Questions about Selling Your Home? We have the answers!

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 Emmer Real Estate has many expert agents that know what you need to do – and we’ve answered the questions about selling your home that you’re probably wondering:

How will you determine my home’s value?

To determine your home’s value and set a listing price, our agents 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. Our 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, known as a buyers’ market, buyers have more negotiating power, so the list-to-sell ratio may be closer to 90%. Our goal is to get you as close to a 100% (or higher!) list-to-sell ratio as the market will bear.

How soon can I get my home on MLS?

Once we agree to work together, our team will begin entering your home information on the Multiple Listing Services system. Our company functions as a team, which means that we don’t have to wait on the schedule of outside vendors (such as photographers). So our turn around time is significantly faster. We have a professional photographer on staff, as well as a Listing Coordinator that enters all of your property data into MLS. As soon as all the information and pictures are uploaded, your listing can go live. This can take as little as 24-48 hours!

What do I need to do to get ready to list?

For your part, it’s a good idea to begin decluttering your home. This will include 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. Once our agents take a look at your home, they can talk further about specific things that will help your home show better.

How will showings be conducted?

You and your agent will agree on the terms you are comfortable with for showings. We want to make the home accessible to buyers without too much disruption to your personal life. We can use an online showing schedule, called ShowingTime, that will notify you in advance of showing requests. This software is exclusive to Real Estate Agents, so there is no worry about having nosey neighbors coming through your home. We also use electronic lockboxes that only active members of our local Realtors association can access. We can set the lockbox on a schedule, if necessary. Any time the lockbox is accessed, we receive a notification, which ensures the safety of you and your home.

How will you 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 our MLS system automatically show up on these sites within a day or two of becoming active. In addition, we have an in-house Marketing Manager that will share your listing with other agents in our network, on our website, and on our social media pages. 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 you qualify the buyer?

When an offer is received, our team 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. We 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.

Is your commission negotiable?

You’ve heard the saying, “Everything in life is negotiable.” However, keep in mind that the commission is split between the two sides, and both agents must abide by the structure their brokerage follows. We believe that all agents should be compensated fairly for their hard work. If we were to reduce the commission upfront, buyers’ agents might be less likely to advocate for your property. Emmer Real Estate will work very hard to represent you honestly with full loyalty and integrity to earn the designated commission. This work is our livelihood, and we pride ourselves in going above and beyond the call of duty to earn our pay and close transactions for our clients.

Will you also represent the buyer?

If your listing agent happens to find the buyer for your home, be assured that they are trained and experienced in handling both sides of the transaction fairly. As professionals, we respect the confidentiality and loyalty required in dealing with both parties. On the plus side, communication is easy when one of our agents represents both sides. Working on both sides of the transaction is hard work, but it would not be a problem. However, if you feel uncomfortable having your agent represent both sides, we are more than willing to work with you and have another agent in our firm represent the buyer.

Can I cancel if I find my own buyer?

The listing agreement is a contract between you and Emmer Real Estate. It stipulates the terms for cancellation, which you are encouraged to review. Once you have signed the listing agreement, a prospective buyer that approaches you directly should be redirected to the agent that you are working with.

How often will we communicate?

Communication is key to an easy and successful sale. Our agent will keep you appraised of events every step of the way. You are welcome to reach out to them with questions or concerns. When you go over the listing information with your agent, you will discuss the preferred means of communication and schedules to make sure you know each other’s availability and boundaries.

Thinking of selling? We are here to help! Contact us today and let’s start this journey together.