Home Selling in Miami>Question Details

Manny Aguilar,  in Miami Lakes, FL

What should a seller know about selling a house?

Asked by Manny Aguilar, Miami Lakes, FL Thu Jun 14, 2007

What do you think are the main things a seller should know when they are ready to sell their home?
Please exclude issues about professionals service fees.

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Manny has provided a valuable list and Kristin has hit the nail on the head about price. In the current buyer's market we are experiencing, it is VITAL to price a home correctly, right from the start. A real estate agent can help in setting a realistic list price.
2 votes Thank Flag Link Fri Jul 13, 2007
Anytime you choose to go a route with an agent, buyer, or investor you should have some accurate numbers of what other houses are selling for in your area. You also want to know what happens if you don't feel like they are getting the results you need then you have an option to withdraw your agreement. This will work well with an agent or investor.

The best option is for the seller that puts options in their agreements.
0 votes Thank Flag Link Sat Jun 6, 2009
It's not all about price... It is about price, presentation and marketing.

Ask your agent how they will set the price - how they will advise you on ensuring that your property is market ready, and lastly ask them how they will market your home.

With over 85% of buyers searching online before they visit a property, your marketing strategy needs to be more than take a few snaps, put it in the MLS and putting a sign in your front yard.

Ask them to show you their marketing plan, and statistics on how successfull it has worked for their other clients.

It is not all about price, it is price, presentation and marketing.
0 votes Thank Flag Link Thu Jun 26, 2008
They should know the data regarding pricing, go over it with the Realtor, and take their pricing advice. They should realize they have an emotional attachment and cannot look at the pricing aspect the way a potential buyer will--that the buyer is going to have the same data. And yes, I realize here and there exists a seller who can do that, but we realtors admit we are mostly too emotionally involved with out own homes to be able to do it without outside opinions.
0 votes Thank Flag Link Thu Jun 26, 2008
That the Realtor is usually right i.e. if the Realtor did his homework and did a "Comp" of the neighborhood which went back 6 months and included all activity such as actives, pendings, settleds, etc. and included any upgrades to the home and priced it accordingly, you should have a good estimate what the home will sell for. Including this crazy market.
The Realtor being objective, will spell it as he or she sees. In business, you can't get too personal, meaning you shouldn't include in the pricing for the most part, things you or a family member repaired or installed (sentimental items) and put a price tag on it, ofcourse with some exceptions, it's usually too high.
0 votes Thank Flag Link Thu Jun 26, 2008
The number one thing buyers should be aware of and accept is the importance of pricing the property right coming out ofthe gate. In our opinion this is absolutely critical....................

The "Eckler Team"
0 votes Thank Flag Link Thu Jun 26, 2008
Here is a list of some of the things sellers should consider when considering selling their home:

Eight steps to selling your home

Define your needs. Write down all the reasons for selling your home. Ask yourself, "Why do I want to sell and what do I expect to accomplish with the sale?" For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move. For your goals, write down if you'd like to sell your house within a certain time frame or make a particular profit margin. Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale.

Name your price. Your next objective should be to determine the best possible selling price for your house. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. You will need to take into account the condition of your home, what comparable homes in your neighborhood are selling for, and state of the overall market in your area. It's often difficult to remain unbiased when putting a price on your home, so your real estate agent's expertise is invaluable at this step. Your agent will know what comparable homes are selling for in your neighborhood and the average time those homes are sitting on the market. If you want a truly objective opinion about the price of your home, you could have an appraisal done. This typically costs a few hundred dollars. Remember: You're always better off setting a fair market value price than setting your price too high. Studies show that homes priced higher than 3 percent of their market value take longer to sell. If your home sits on the market for too long, potential buyers may think there is something wrong with the property. Often, when this happens, the seller has to drop the price below market value to compete with newer, reasonably priced listings.

Prepare your home. Most of us don't keep our homes in "showroom" condition. We tend to overlook piles of boxes in the garage, broken porch lights, and doors or windows that stick. It's time to break out of that owner's mindset and get your house in tip-top shape. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important. Your real estate agent can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers. * A home with too much "personality" is harder to sell. Removing family photos, mementos and personalized décor will help buyers visualize the home as theirs. * Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen or a worn doormat, can ruin the buyer's first impression. * Clutter is a big no-no when showing your home to potential buyers. Make sure you have removed all knick-knacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible.

Get the word out. Now that you're ready to sell, your real estate agent will set up a marketing strategy specifically for your home. There are many ways to get the word out, including: * The Internet * Yard signs * Open houses * Media advertising * Agent-to-agent referrals * Direct mail marketing campaigns In addition to listing your home on the MLS, your agent will use a combination of these tactics to bring the most qualified buyers to your home. Your agent should structure the marketing plan so that the first three to six weeks are the busiest.

Receive an offer. When you receive a written offer from a potential buyer, your real estate agent will first find out whether or not the individual is prequalified or preapproved to buy your home. If so, then you and your agent will review the proposed contract, taking care to understand what is required of both parties to execute the transaction. The contract, though not limited to this list, should include the following: * Legal description of the property * Offer price * Down payment * Financing arrangements * List of fees and who will pay them * Deposit amount * Inspection rights and possible repair allowances * Method of conveying the title and who will handle the closing * Appliances and furnishings that will stay with the home * Settlement date * Contingencies At this point, you have three options: accept the contract as is, accept it with changes (a counteroffer), or reject it. Remember: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with your real estate agent right away.

Negotiate to sell. Most offers to purchase your home will require some negotiating to come to a win-win agreement. Your real estate agent is well versed on the intricacies of the contracts used in your area and will protect your best interest throughout the bargaining. Your agent also
0 votes Thank Flag Link Thu Jun 26, 2008
Buyers want value today - price and presentation. Not price alone.

How will your propert look online and in person? What will your property say to buyers?
- nice
- same as the others
- or , wow , we need to put an offer on this property - it looks like home.

Make sure that you have a home staging consultation to find out what buyers think?
Over 85% of buyers search online before visiting a listing, does your's stand out in the online photographs?
0 votes Thank Flag Link Thu Jun 19, 2008
The are many different responses to this question. At Terrabella Realty we have organized the various tips and tricks for sellers. Please take a look at our Sellers Guide located on our website. Clik on the posted link and you'll find your answers. If you have any questions about South Florida real estate, don't hesitate to ask. We look forward to hearing from you soon.
0 votes Thank Flag Link Fri Jul 27, 2007
In the Florida real estate market at this time, understand that your home may not sell immediately. Prepare the home to sell, present it in its best condition, stage it and get rid of clutter, use the services of an experienced realtor and most importantly, price it to sell! The market has changed - price your home to sell in the present buyer's market! Don't languish on the market for months and months - if you need to sell, price it to sell.
I have a list for sellers - I'd be happy to share. Just send me an email.
0 votes Thank Flag Link Sat Jun 16, 2007
1. Increase your home’s "Curb Appeal" before you list it for sale.
2. Clean your house.
3. Pack up your house when you prepare it for sale.
4. Prepare a House document Book.
5. Gather copies of your original purchase documents.
6. Make sure you know what you owe on your property.
7. Check for title defects.
8. Make a list of all the things you need to do when you sell.
9. Always make the home available to showings
10. Use a professional Realtor®!
Real Estate is a highly regulated industry and many laws are written to protect the consumer. Once you decide to sell your home, you are now subject to all of those laws, rules and regulations, and the penalties are extreme. A professional Florida Realtor® knows the laws and has passed the exams and has access to all the forms, documents and information necessary to ensure both you and the buyer are protected.
It is also important to know that when a buyer is looking for a new home, they will generally choose to use a Realtor® to assist them. Those Realtors® will use the Multiple Listing Service (MLS) and other professional marketing tools to help them find the right property. You, as an individual, do not have access to all of those resources.
Realtors can also assist in many other areas to make sure the transaction is legal and efficient.
Web Reference: http://www.keyes-miami.com
0 votes Thank Flag Link Thu Jun 14, 2007
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