PICK A REALTOR THAT FITS YOUR NEEDS
Your real estate agent is an expert in the home selling process and is the one who will be "on your side" and watching out for your best interest.
What to look for when you are trying to hire an agent?
- Full-time agent who can provide 24/7 support
- Good communication skill who can calmly get his/her points across
- Willing to present perspectives that are different than yours so you can see the full picture
- Provide unbiased market data in a condensed user friendly form so you can make informed decisions
There is no standard commission rate. You should compare the services provided by different agents and decide which agent provides the services you need.
PRICE YOUR HOME
DATA COLLECTION AND ANALYSIS
- Your real estate agent will search for all the properties that are comparable to your home. Sold properties will help make a educated guess on the price buyers have been willing to pay. Listing prices of similar homes will allow give you an ideas what your competitions are offering.
- The realtor should also advise you on the market trend in your area. You may need to price your home in the low end of the price range in a cooling market.
WHY IS IT IMPORTANT TO GET THE PROPERTY MARKET VALUE CORRECTLY?
- You lose at least half of the potential buyers if the listing price is 10% higher than market value. Your home will most likely stay on the market longer and requires a price reduction which significantly weaken you negotiation position.
- You can potentially double your audiences by listing the home 10% lower than market price. This may lead to multiple offers in which you can demand the best price and terms.
Impact of listing price on property visibility to potential home buyers
GET YOUR HOME UNDER CONTRACT
- Advertisement: Beside advertising the home on MLS, we will also list your property on other platform such as realtor.com, Zillow, social media and more.
- Showings: offer multiple methods (open house, individual showing, virtual showing, etc) to show your home to as many qualified buyers as possible.
- Screening buyers: your realtor should screen for the most qualified buyers to make sure they can close the transaction in a timely manner.
- Negotiating contract: beside sell price, there are so many other terms and conditions (survey, option fee, earnest money, closing cost, appraisal, personal properties, timeline, etc.) involved in a real estate transactions.
- Review and execute contract: real estate contract may be one of the most complicated documents you have encountered. Your realtor will review and explain all terms and conditions so you understand what you sign.
CONTRACT TO CLOSE
- Escrow/Title work: after the contract is signed, the buyer has three days to deposit the earnest money with the escrow agent/title company. Title company will also investigate the property title to ensure closing can occur.
- Home inspection: The buyer can hire a professional home inspector to ensure the property is in good condition. This must be done before the option period ends. If there are unexpected findings on the inspection report, buyer may use these findings to negotiate for repairs or concessions.
- Home appraisal: A home appraisal provides and independent and impartial analysis of real property. At the end of the appraisal, you will be provided with an accurate estimate of the fair market value of the home being sold. If appraised value is lower than sale price, buyer may use this information to re-negotiate the contract.
- Closing day: you will be signing lots of paper. It is best to review and understand the closing documents before coming to the closing table. Your realtor can explain or find the answer for any questions you may have while reviewing the paperwork.
