Selling Your Home
a few quick things you should know
It is natural to explore selling your home when you are going through a life-change (increase or decrease in the size of your household, change in income, desire or need to relocate, etc.). It is also prudent to consider selling when you are looking at the benefits of a refinance.
No matter what prompts your decision to sell your home, here are a few things to keep in mind:
- Price It:
Find the comparable sale price -- not the price other homes are listed at, but what they're selling at. Find out what they sold for in the last six months. You'll have to become cold-hearted about your home: your nicer carpet, hand-tooled cabinetry and bigger yard don't automatically boost your asking price.
- Fix it:
Spiff up the old homestead. The two best things you can spend your money on are paint and cleaning. The rule of thumb is, you have exactly six seconds to impress a drive-by house hunter. Make them count.
- Market it:
High visibility is your ultimate goal. Marketing your house to potential buyers is the only way to get it sold. A homemade sign on poster board doesn't quite do the trick. If you're using a real estate agent, they should take care of it -- make sure they do. The possibilities include home buyers' magazines, direct mailings, home relocation packets, flyers, open houses, the Multiple Listings Service and networking to other real estate agents. Your agent also should take care of showing your property to potential buyers and monitoring any offers.
Finding a real estate agent
You find a real estate agent just as you would any other important professional: Seek recommendations from your friends and people you know in the real estate business, build a short list of possible agents and then meet and interview several.
Ask the potential agents to bring with them to the interview:
- A comparative market analysis of your property.
- A sample marketing plan.
- Background information on themselves and their agencies with references.
Going FSBO
Of the approximately 4 million single-family homes sold in the United States each year, 20 percent to 30 percent are sold without a real estate agent. For sale by owner, usually seen as the acronym FSBO and pronounced "FIZZ-bo," is when a homeowner sells a home without an agent. Selling your home isn't simple, but if you're willing to wear all the different hats -- from marketing to negotiating -- this deal can save you 6 percent to 7 percent in brokerage commission fees.
Finding a great Real Estate Agent may make your process much easier, and if you need a referral to someone trustworthy, contact your HOMELOAN Source Loan Officer for the name of one or more specialists in your area.
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