Expect "market value." On average most homes in today's market take between 60 to 90 days to sell. Most often homeowners interview several Real Estate Professionals before assigning the listing. Most listings are assigned for 90 days with the option to extend or cancel.
There is an array of tools that agents use in listing presentations to convince the Sellers that they are the elite person for the job. Featured listings on sites like Realtor.com, Trulia.com, Zillow.com, ListingBook.com, signs, flyers, brochures, mailers, notepads and the list goes on. In reality, the MLS (Multiple Listing Service) sells your home.
Nine of ten homes are sold through the MLS. Agents spend thousands to advertise and promote themselves, remember that's how you heard about him/her. Advertising and Open Homes are tools for prospects, but the MLS brings a qualified Buyer, ready to purchase your home.
The town's Realtor is often the town's best marketing company. Interview a few Realtors and ask for references. Ask about their plan of action to sell your home. I recommend a brand agency, such as Sotheby's, Prudential, etc. These companies caravan the listing and do "wants and needs" every week in the office meetings. They connect many Buyers to Sellers.
Once the house is on the market you will set how to preview the property: by appointment only with the owner or the agent. With the lockbox, call first, leave a message, no viewings, vacant and go direct. This will greatly determine how quickly the property will be sold.
Sometimes the best offers come in the beginning, so don't think because you got a great offer you under priced the property or others will follow. Be aware of the market value and honest about the amount of work and/or repairs the property needs. Make sure to fill out correctly a Seller's Questionnaire and the Transfer Disclosure Statement to avoid all future liabilities. Disclose everything you know about the property!
The Buyers should hire an independent physical inspector to inspect the condition of the property. You should receive a copy of the report because it is subject to the sale of the property. The Buyer will mostly likely also pay to have an appraisal done for the bank to issue a loan. This does not apply if they purchase the property in cash.
You should expect that there will be some negotiations and you won’t always get exactly what you want. Understand that the Buyers are seeing things they would like to change in the property and those things cost money. Expect to pay both sides of the commission for the listing and selling agents and an additional 2% closing costs. You should get a pro-ration for your home insurance premium in escrow.
Lastly, don't forget to turn off utilities and make sure to leave all keys and remotes for the new owners.
My name is Zevi Shafran and I am a Real Estate Broker at Ewing & Associates Sotheby's International Realty in Sherman Oaks, CA 91423. I have been a Real Estate agent since 1999 and a Real Estate Broker since 2002. I service Agoura Hills, Calabasas, West Hills, Woodland Hills, Tarzana, Encino, Sherman Oaks, Studio City & Taluca Lake. I specialize in Luxury Estates, Short Sales and Foreclosures.
Please contact me if you have any questions:
Zevi Shafran
Broker Associate
Ewing & Associates
Sotheby's International
818-974-2279
Info@ZeviShafran.com
http://www.ZeviShafran.com
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