If you have a home to sell, you’re probably excited to get the process started. There are many things you need to consider when selling your property, and it’s hard not to feel overwhelmed by the task. The good news is we’ve done extensive research about what you need to know about selling your home – and we’ve answered the questions you’re probably wondering:
How will Gabe determine my home’s value?
To determine your home’s value and set a listing price, Gabe will complete a Comparative Market Analysis. The CMA uses recent sales of homes close in geography, age, size, and features to yours. (A CMA is not the same as an appraisal, which a licensed appraiser can perform.)
Is it a good idea to start high?
Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical. First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run. Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled. Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction. It’s best to set a realistic listing price that will bring you buyers quickly. Gabe's goal is always to get you the highest possible price in the shortest amount of time.
What percentage of the listing price can I expect to get?
The list-to-sell ratio is determined by dividing the selling price by the listing price. The ratio is largely market-driven. In a sellers’ market, which is when inventory is low, sellers may get close to 100% or over 100% if the home sells above list price. In a market with a large inventory of homes, a buyers’ market, buyers have more negotiating power, so the list-to-sell ratio may be closer to 90%. Gabe's goal is to get you as close to a 100% list-to-sell ratio as the market will bear.
How soon can I get my home on MLS?
Once there is an agreement to work together, Gabe will begin entering your home information on the MLS system. He will also schedule a time for a professional photographer to take photos of the property. As soon as all the information and pictures are uploaded items, your listing can go live on MLS.
What do I need to do to get ready to list?
For your part, it’s a good idea to begin cleaning out or organizing storage spaces, closets, and drawers and putting away some of your décor or belongings. You may also want to have the exterior pressure washed, and the landscaping cleaned up. We will provide you with a Pre-Sale Home Checklist and Megan will work with you on staging and a furniture placement that will best showcase your home. We can talk further about specific things that will help your home show better.
How will showings be conducted?
You and Gabe will agree on the terms you are comfortable with for showings. He wants to make the home accessible to buyers without too much disruption to your personal life. You can use a showing schedule, and unless you agree otherwise, Gabe will notify you in advance of showing requests. He typically uses electronic lockboxes that only active members of our local Realtors association can access. Gabe can set the lockbox on a schedule, if necessary. Any time the lockbox is accessed, he receives a notification.
How will Gabe market my property?
Marketing your listing is of utmost importance. Most buyers find their properties online through MLS (via their agent,) Realtor, Zillow, or other search engines. Listings in the MLS system automatically show up on these sites within a day or two of becoming active. In addition, Gabe shares his listings with the agents in his network, on his website, and on social media. We can discuss additional opportunities such as hosting open houses and marketing within your neighborhood.
How long will it take to find a buyer?
Several factors influence the time it takes to find a buyer. These include the market conditions, price range (higher-priced or luxury homes typically take longer to sell,) location (whether your home is in a desirable neighborhood or a unique location,) and the condition of the home (is move-in ready or in need of renovations?) In a balanced market, most houses, when priced accurately and without significant damage or extenuating circumstances, go under contract within thirty days. Homes sell faster in a seller’s market, while buyers take more time to look when inventory is high.
Will Gabe qualify the buyer?
When an offer is received, Gabe will work with the buyer’s agent to vet the buyer. All offers should be accompanied by either a pre-approval from a mortgage lender or, if paying cash, by verification of funds available to cover the purchase price. Once you accept an offer, the buyer must put down the agreed upon escrow deposit, schedule any inspections as stipulated in the contract, and, if financing is involved, their lender will initiate the loan approval process. Gabe will stay in close contact with the buyer’s agent to make sure due process is followed.
What are the costs involved?
The seller usually pays for the real estate agent fees, which are divided between the buyer’s agent and the seller’s agent. The seller also pays their share of the property taxes and HOA dues. If the full annual amount has been paid, the buyer will repay their portion back to the seller at closing. Often the seller elects to pay a portion of the buyer’s closing costs to help make the transaction work for the buyer.
Will Gabe also represent the buyer?
If Gabe happens to find the buyer for your home, be assured that he is trained and experienced in handling both sides of the transaction fairly. As a professional, Gabe respects the confidentiality and loyalty required in dealing with both parties. On the plus side, communication is easy when he is representing both sides. Working on both sides of the transaction is hard work, but it would not be a problem.
Can I cancel if I find my own buyer?
The listing agreement is a contract between you and Gabe and/or his brokerage. It stipulates the terms for cancellation, which you are encouraged to review. Once the listing agreement has been signed, a prospective buyer that approaches you directly should be redirected to Gabe.
How often will we communicate?
Communication is key to an easy and successful sale. Gabe will keep you appraised of events every step of the way. You are welcome to reach out to him with questions or concerns. When you go over the listing information, Gabe will discuss your preferred means of communication and schedules to make sure both partiers are aware of each other’s availability and boundaries.
Thinking of selling? Gabe is here to help! Shoot him a message or give him a call today at (904) 501-8515.
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