Sold Home

From MarketItSold

Are you thinking of selling your own home? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct?

Well, just like you have stopped changing your cars oil, you might need to outsource this one to a professional too.  Hiring a  Real Estate agent can take away most of the challenges of selling you home. A great agent is always worth more than the commission they charge just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one.  Let us help.

If I were hiring an agent to sell my home today, I would require they

1. Open Communication:
Too many agents just take the listing at any price and will do their best to get price corrections once the home stays on the market. But keep in mind that this will take a seller who is willing to accept the truth! Last year, our Los Gatos neighbor refused to accept our recommendation for pricing the home at $1.3M to induce higher price offers.  Instead he insisted that he will not take anything less than $1.6M and listed the property with another agent at $1,6M .   His home stayed on the market for more than 9 months and sold after 3 price reductions at 1.29M.

So selling a home is a team sport and both parties have to be willing to listen to each other.

2. Work with family time table:
You will be moving your family to a new home and even a new city or state for that matter. And moves by nature are stressful for everyone including your family.  Demand from your agent an appreciation for the timetables you are using to set your calender for the next 6-8 months.

3. Remove as many of the challenges as possible
With 4 buyers for every one seller, the market moves fast and you need to cooperate with your agent to facilitate showings and inspections.  If showing your home become cumbersome and difficult, buyer’s agent might skip showing your house all together.  For instance, adding an electronic Lockbox to provide access to other brokers and agents will help your marketing plans.

4. Relocation Assistance:
Make sure that your listing agent is willing to help you find a new home to move into since that will eventually impact his ability to close your sale.    In most cases, be able to close on your current home and immediately move into your new residence.  Your agent should also educate you on your option to rent your home back from the buyers in case you are unable to rent or buy a new house.

5. Sell and Close
Your ultimate goal is to sell your house and move.  Make sure your agent is working closely with the buyer’s agent and escrow team to avoid any surprises after you have accepted an offer.  We have written extensively about the Negotiations, Escrow and Closing process in our blog.