Home Selling Advice

1. Selecting a REALTOR may be one of your biggest decisions in this process. I suggest you talk to your friends and ask for referrals. Often they will even tell you which companies to stay away from. Make sure the REALTOR you choose has experience in your area of town. A South Austin REALTOR may not be the best choice when selling your home in Cedar Park. Ask your REALTOR about the commission split they have with their broker. A good REALTOR should never pay more than 20% of the commission to their broker. Asking about commission splits is a good way to determine if a REALTOR is inexperienced. Make sure the REALTOR has been in business at least two years and is good enough at their job to do it full time. Make sure the REALTOR works for a company large enough for them to have someone for back up. When your REALTOR goes on vacation, you want the marketing of your home to continue. Finally, make sure the REALTOR has a marketing plan that makes sense to you.

2. Staging is extremely important. Ask your REALTOR to assist you in staging your home, or ask them for references of professional home stagers. We see our homes every day and set our homes up for personal convenience. When you are marketing your home, it is very different. Every home at every price range should be staged. It might be as minor putting extra items away in the garage, and rearranging furniture. Don’t forget about the front and back yards. Make sure the area outside the front door is clean and uncluttered. Before you spend much money, ask your REALTOR for advice.

3. Make sure your home is priced correctly. A good REALTOR will tell you what similar homes near you have sold for in the last six months. A better REALTOR will also show you what your current competition is. Depending on your current competition, you may be able to raise your price, or you might need to lower it. Also make sure your REALTOR monitors the competition weekly and tells you if any of the area homes went under contract or lowered their prices. You should talk to your REALTOR no less than once a week. One final caution on pricing, is not to list with a REALTOR just because he tells you your home will sell for more than other REALTORs said it would sell for. Often a REALTOR will over price a home to get the listing, and then after 30 days suggest the seller lowers the price. Remember the market will determine what your home will sell for, not the REALTOR.

4. Make sure the home is being properly marketed. Does your REALTOR upload the maximum number of photos allowed by the MLS system? Does your REALTOR do a full virtual tour of the home or is there only one panoramic picture and a slide show. Does your REALTOR have fliers outside the home for potential buyers to view? Does your REALTOR market the neighbors? They are often the best sales people for your home. Does your REALTOR put your home of all available property tours? Does your REALTOR hold open houses? Does your REALTOR advertise your home on all available websites? These are just the beginnings of a good marketing plan.

5. Make sure you and your REALTOR closely discus the feedback from other REALTORs. This advice may lead you to additional staging and to adjusting the price.

6. Make sure your REALTOR prequalifies all buyers for your home. Good REALTORs have lenders that call the buyer’s lender to make sure the buyer can really purchase your home. The last thing you want to hear after you move out and you’re on your way to closing is that the buyer could not get their loan.

Home Selling Advice

John Mick