When it comes time to buy or sell a home, the good folks at The Lucas Group are always more than happy to help out. The process is not always as simple as it seems, though. In fact, there are moments where it may seem downright daunting. However, there is no need to worry. By taking the time to ask all of the most important questions, the usual pitfalls become much easier to avoid.
This guide is here to help any and all buyers and sellers who are looking to avoid scams and enjoy a simpler outlook. The top real estate agents pride themselves on removing all of the guesswork from the process so that the seller or buyer can enjoy the proper peace of mind. Be sure to read on and learn more before getting started in earnest….
Table of Contents
How Should The Home Be Prepared For a Sale?
Of course, the home will need to look presentable when the owner is ready for a sale. That means that the entire residence needs to be deep cleaned and if there are any minor repairs that need to be done, those should be handled as well. If there any holes in the wall or any rooms that have not been cleaned in a while, these are areas of concern that must be addressed.
There are also subtle changes that can and should be made. For starters, the walls should be painted a neutral color, as this makes the property more attractive to a potential buyer. Cream-colored walls (white and grey also work well in these instances) will give the illusion of more space. This also gives the prospective buyer the chance to picture themselves in the home more easily.
How Long Will The Process Take?
The average homeowner is told to expect the process to take anywhere from 55 to 70 days. The home will typically remain on the market for at least 25 days. From there, the rest of the waiting period is focused on the closing process. This is not a guarantee that the home will be sold within this time period, though. The exact amount of time depends on a few different factors.
The time of year is always going to play a major role. The average home sells much more quickly during the spring and early fall months. Is the market in question a seller’s market or a buyer’s market? This is something that the realtor can help a homeowner to determine so that they are not placing unrealistic expectations on themselves. The condition of the home and the manner in which the financing is obtained will also play sizable roles in the speed of the transaction.
How Is The Listing Price Decided?
A comparative market analysis will need to take place before the homeowner is able to decide on a listing price. Yes, this step can be handled without the realtor’s help but it is not recommended by any stretch of the imagination. The agent is able to pinpoint similar homes in the area and let the seller know what they can reasonably expect. It is important for the seller to be able to take a step back in this regard.
Let’s face it, the average person is always going to overvalue their home. It is hard to remove emotions from the equation and take an impartial approach. The best agents are experts when it comes to individual neighborhoods and can provide the seller with all of the information that they need.
Is The Commissions Payment Negotiable?
The realtor’s fees can be negotiated but be forewarned in these instances. Some agents might be willing to work for a bit less, others may not be willing to settle for anything less than the usual commission’s fee. A realtor will normally receive 6 percent but there are discount brokers who will go as low as 3 percent.
It is also acceptable to negotiate these fees directly but a realtor can also reserve the right to reduce the number of services that they have to offer in these instances. In other words, the seller is always going to get exactly what they pay for. The less that the realtor receives, the less they are going to help along the way. This is a rule of thumb that the seller needs to live by.
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