Brandon Patton Tri-Cities Real Estate Market Leaders
When you first decide to sell your home it may seem like there are no options available when it is time to choose your realtor but if you interview a few different real estate companies you may be surprised. Every real estate company does not offer the same options and every agent within each agency will have a different business model. Each real estate company has the ability to negotiate listing agreements with their clients when they decide to provide their real estate services so if you take the time to do your homework before you sign a contract then you will get better results.
Each agent within an agency will have a different marketing strategy and a different volume of home sales. Before you sign your listing contract with your Realtor you need to ask yourself if you chose the right agency and the right Realtor. Getting the agent that will list your home for the lowest commission may not get you the best results and paying an agent a huge commission will not guarantee that you are working with a top producing agent. Below you will find a few useful questions to ask your agent about their listing services:
- What is the total commission going to be and how is the commission structured? This is important because some realtors use the technique of offering a higher commission to the buyers agent to entice other agents to show your home.
- Where does your company Advertise and where do you advertise as an agent? This is important because some agents spend thousands on marketing every month and other may spend $ 0. Also, according to the National Association of Realtors 90% of home buyers start their home search online so a company that places well in Search Engines may help. Also, there is a difference between advertising homes for sale and advertising yourself as an agent.
- Pay attention how easy they are to contact! What good is hiring an agent if all they do is put a sign in your yard? Good agents answer their phone every time or return calls quickly. If they are top producing agents then they will have assistance who will take their calls and schedule their appointments for them but as long as the experience is professional then people calling about your home should be happy.
- Availability? Ask them if they plan on doing Open Houses or if they have restrictions to showing your homes as certain times. Often time's people who want to see a home give a short notice and they may want to see your house at night or on a weekend. Some agents have 2 or 3 listings while other may have 40.
- Qualifications! There is a bunch of different real estate credentials that can be earned through continuing education. Some agents have Masters degrees with every accreditation and others may have the minimal to be licensed.
- Biased opinions, Some agents represent large developers that may have 20 brand new homes for sale in the same price range as your home. Which house do you think that agent will show?
Remember that attracting buyers to your home is not the only important aspect that a realtor has in mind when they list your home for sale. An experienced Realtor will be able to look at your home and have an idea if your home will meet FHA, VA, or Conventional standards for a mortgage. They will be able to see past the first step of selling your home which is finding the buyer and they will be able to see what they will have to do to close the deal with that buyer when they do arrive. An experienced Realtor has negotiated a bunch of contracts and they are ready to see what the first offer will look like and they will have a good idea of the best way to jump through the hoops that start popping up when you are trying to hold a deal together. Most real estate contracts will have contingencies written within the offer so you need to make sure that your Realtor has the back bone to represent you but does not blow the deal by offending the buyers. Some examples of common hurdles in a real estate contract are as follows:
A low offer- Some buyers think it is OK to submit a low offer just to see how the seller responds. Depending on the price range of your home and the current market conditions the term low offer is open for interpretation. However, a good seller agent will respond to a low offer in writing ASAP and try to establish a working relationship with the buyers.
Home inspection- It is common for the buyer to write in an inspection contingency within their offer that allows them to hire a home inspector to inspect the home and provide suggestion for repairs. This can be a heated moment for the sellers if they have negotiated the price down as far as they are willing to go and then a huge list of repairs shows up with the threat that the deal is over if the repairs are not completed within 7 days . An experienced agent would have seen this coming and could have prepared the sellers for this before they reached this phase. They will also have great techniques at this point to keep the deal together. The price can still be renegotiated to cover repairs or the agents can even agree to a commission reduction to the seller if the seller does the repairs.
Appraisal The appraisal may come in low!
Extension of closing- Sometimes issues arise at the last minute and the closing date of your home will have to be extended. This can create a huge issue if you have moved out of your house so the buyers could move in and 5 days before they are scheduled to move in they send in a closing extension because there bank is not ready to close.
Condition of property– Whenever I sell a house a like to meet the buyers at the home when I first hand them the keys to their house so I can see what the house looked like when they received the keys and I will have a better understanding of what their reaction what to the condition of the property.
Using an Experienced Realtor is defiantly worth it but the tricky part is finding the experienced Realtor that will help you every step of the way and eliminating the useless Realtors who will not do anything for you. There are a lot of new trends popping up that are alternatives to standard real estate transactions but it is best to precede with caution before you sign up for a discount service. Some are great services that will work for you but hopefully this list will give you an idea of what some items are that may show up during the sale of your home. For more information please contact me anytime!
Brandon Patton Tri-Cities Real Estate Market Leaders
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Source by Brandon Wayne Patton