Selling Your Home

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Looking to Sell Your Home?

Selling your home is an important financial and emotional decision that should be informed, realistic, and confident. The most successful sellers are those carefully define their needs. Ask yourself, “Why do I want to sell and what do I expect to accomplish with this sale?” Once you determine your objective, we can provide you with the expertise and tools necessary to help you undertake every step with confidence.

What are the benefits of listing with an agent?

Although listing your home For Sale by Owner (FSBO) may be tempting for various reasons, representation can mean a shorter time on the market and a higher sales price of your home. Studies show that homes sold by an agent get 19% more than homes sold by their owners[1], and spend 19 fewer days on the market [2]. Listing with an agent also provides you with the opportunity to list your property in the MLS (Multiple Listing Service). A multiple listing is an information-aggregating service through which participating brokers list and sell their properties within a common market area. By submitting a listing to an MLS, the property receives wide exposure and often results in a quicker sale. Additionally, the paperwork and contracts were one of the largest problems faced by those trying to sell by owner. A total of 19% of FSBOs reported difficulty putting together the legal paperwork necessary to transfer ownership of a property[3]. Working with an agent guarantees an advocate with a fiduciary duty to act with your best interest in mind. An agent is an invaluable resource who will spearhead the effort to price, market, and negotiate the sale of your home.

What should I expect of my real estate agent?

Once you’ve hired an agent you feel comfortable with, they will then take on all the proceedings of your property sale, from pricing, marketing, negotiating, and closing the deal. Your agent should act as your advocate, working only in your best interest. From day one, they should discuss with you your unique goals, and present to you a marketing plan tailored to your specific needs. Your agent should also promote your property to the widest possible audience by means of web and print, report to you regularly, and search out pre-qualified and serious buyer prospects. Once you begin to receive offers, your agent will negotiate on your behalf to secure you the best price, and will guide the sale to a successful close.

The responsibilities of your agent include, but are not limited to; ensuring fidelity and confidentiality, providing notice of material facts, and offering care, obedience, and accounting.

How long should I expect my home to be on the market?

The length of time that a property sits on the market is determined by many factors such as price, current market conditions, condition of the property, and the effectiveness of its marketing. It is important to note that properties that are priced competitively attract more buyers and sell quicker.

How is my home’s value determined?

Your real estate agent should provide you with a Comparative Market Analysis (CMA) which will detail how your property compares to recent solds in your area. Upon reviewing this data and factoring in the condition of your property, your agent will then determine the value of your property.

Where do most buyers start looking for homes?

Research suggests that 90% of home buyers start their search online. It is therefore critical that you ask your agent how they will provide your property with an online presence that stands against the competition.

What happens once an offer is received?

It is your agent’s duty to present to you all offers, regardless of what they may consider serious and sufficient. Once you are presented with an offer, you may choose to accept the contract as is, accept it with conditions (counteroffer), or reject the offer. It is important to note that once both parties sign a written offer, the document becomes legally binding. If you have any questions or concerns, it is important to address them with your agent right away.


[1] Field Guide to Quick Real Estate Statistics
http://realtor.org/field-guides/field-guide-to-quick-real-estate-statistics
[2] Northwestern University, The Relative Performance of Real Estate Marketing Platforms
http://facultywcas.northwestern.edu/-ane686/research/fsbo.pdf
[3] FBSO Sellers Decline as More Sellers turn to Real Estate Agents to Sell the Home
http://economistsoutlook.blogs.realtor.org/2011/12/12/fsbo-sellers-decline-as-more-sellers-turn-to-real-estate-agents-to-sell-the-home/

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