Before You Make That Big Step…
You’re planing to sell your house or condo, and you’ve chosen your agent. You’ve hired painters and repair people to fix the place up and either cleaned or had the place cleaned professionally. The place looks decent and the home stager is going to make it look great. You have the general knowledge that what you can list your place for may change based on how many other homes near you are for sale and what type of condition they are in – those houses are your competition. So, what are the questions you should ask your agent?
What’s the highest price I can get for my home?
You cannot change the year your home was built. Your home only has but so many rooms and bathrooms. Your home is where it is. It cannot be magically moved to a better location. There may even be newly constructed homes in your neighborhood that no one has ever lived in. So there is going to be a price limit based upon your home’s age, layout, square footage, number of bedrooms and baths, as well as the lot size.
Based on the list price, how long should I expect to wait before receiving an offer?
Listing too low could cause you to lose out. Listing too high will definitely drive potential buyers away. The price you decide upon will determine how long it takes to receive offers. Your agent should prepare and review the comparable sales in your area as well as other important factors. If you chose to price it lower than comparable homes, expect to see offers within the first few days or weeks. If you decide to price on the higher-end of the price range, expect 4 to 6 weeks — if not longer — and also plan for a potential price reduction along the way. (When a house has been sitting on the market for a while, it can leave potential buyers with a bad impression.)
What is the Open House strategy going to be?
Agents should have at least one Broker’s Open House and a few Sunday open houses in the beginning. Some agents will tell you that open houses don’t work. Others will promote holding an Open House every weekend. Find out what other sellers are doing by studying the market yourself. One-size-fits-all may not be the best approach.
If you are a serious seller, motivated to move your home and working with an experienced local agent, these final discussions should put you on the path to success.
