October 13th, 2008
What you need to know before you put your house on the market
So you have made the decision to sell your home - now what? There are two major things you need to think about before the “for sale” sign goes up in the front yard.
Full Service Agent vs. Discounted Brokerage
When you consider the current market in your area you may find that there are many benefits to using a full service agent. First and fore most, a full service agent should have the experience to be able to help you price your home correctly and guide you through preparing you and your home for the sale process. This process is much more complex then many people realize, especially if you have never sold a home before. The first step is to take a tour of your home with the eyes of a buyer. Do you need to paint? Should you remove or add furniture? Does the yard need a little or a lot of work? Are there any “quick fixes” that could potentially add to the value of your home or make it more attractive to buyers? These are all things that a full service agent will walk you through to ensure that your home is truly ready to be sold.
Discount brokerage firms typically will not provide these services, or will charge a fee to do so if offered. Why would someone choose a discount brokerage agent? Well - because they want to save money. What they don’t consider is what their own time is worth. The reason that selling homes is a job is because it requires work. Creating marketing materials, knowing the competition (other homes on the market), accurate pricing, and everything listed above are all things that take time and expertise and should take place before the home even goes on the market. With a discounted brokerage this becomes your job!
Once you have put the home on the market you need to get buyers in to see the home. A full service agent will conduct open houses, brokers opens, and customize a marketing plan to accomplish this task. They will also be available to do private showings, answer questions about the home, and negotiate any offers. With a discount broker you are responsible for these things. Holding open houses, scheduling showing appointments, and allowing access to the home are also things that will fall onto the shoulders of the home owner. All this while dealing with the stress of selling your home! Have you ever been in your home while a stranger has walked through it? You will now.
In addition to making sure that your home is ready to hit the market, your full service agent will ensure that people know it is for sale and can be bought! Your home will be listed on the Northwest Multiple Service which can be accessed by licensed real estate agents. While the same is true with a discount broker, you are listed as the contact person and will have to field inquiries regarding your home. It is also important to note that many agents are reluctant to show homes listed by discount brokers for the following reasons: a) it is potentially more work for the agent, b) they are often asked to do things that should be done by the sellers agent, c) it can be more difficult to gain access to the house, d) it can be a lower commission (less money) for the agent. If this is the perception of the majority of licensed real estate agents, then think what that means for the exposure of your home. This can have a negative impact on your home and can increase the length of time it takes to sell.
The big question is - do you really know what it takes to sell a home and are you willing to put the time in to do so? Keep in mind that statistics show that using a full service agent can result in a higher price in less time, thus making it cost effective to hire a full service agent.
Is Your Home Buyer Ready?
Now that you have decided on a broker, you need to address the appearance of your home. As agents we are continually shocked at the state of some homes on the market. For example, one home’s front door literally required shoving because so much laundry was piled up behind it. Laundry in the entry way - really? We have seen dirty dishes in the sink, unmade beds, dirty diapers on the patio, and Allison was once peed on by a dog! Are these things deal breakers? No, but is that how you would want your home remembered by potential buyers?
We, as your agents, have a checklist of housekeeping items to be completed before putting your home on the market. This ensures that your home always has its’ best face forward. As part of the preparations, we will do a walk through with you so that you can see what a buyer would see. Depending on how long you have been in the home this can be a trying task. While you love to see your children’s smiling faces all around your home, potential buyers would like to be able to envision their own decor on the walls. That antique furniture that you inherited from Aunt Susan may not be the best thing in your completed updated modern kitchen. Making these changes may mean adjustments to your everyday lifestyle.
Our other role as agents is to educate you on how and when people should be able to view your home, the condition it should be in when people do view it, and what to do when people ask you questions directly regarding your home. Some sellers have a tendency to disclose too much information that can weaken their negotiating position later on. An easy solution to this problem - don’t be home when people come through. This is yet another adjustment that you should be willing to make when you put your home on the market. One of our clients had an agent call to make a viewing appointment right as they were putting dinner on the table. Their adjustment - load the food on paper plates and head to the park for a nice outdoor meal!
Selling your home is more than just putting up a sign in the yard and holding an open house. We are here to guide you through everything that needs to be done to ensure top dollar for your home. Remember we don’t get paid until your home sells, so we have a vested interest in making sure that happens. If you would like to know how to get your home ready to sell, just give us a call. We would be happy to help!
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