If you are thinking about selling your property, you will want to select a real estate company and real estate agent to assist you in the process. The real estate agent that you choose to help you sell your property is called a listing agent. When choosing a listing agent, you will want to find an agent who will sell your home for the most money in the least amount of time. But there is much more to selling a home than that, and many things set a good or great agent apart from an average one. You should evaluate real estate agents based on the services they offer, their skill level, their expertise, and their character. Ultimately, the right real estate agent for you is the one that best understands your goals and expectations.
All agents should provide the following basic services. If you are considering working with an agent who does not cover the following items, consider trying to negotiate a lower commission. Here is what to expect from your real estate agent.
Provide a comparative market analysis
A comparative market analysis (CMA) is a report that shows recently sold homes that are like yours in the same area. Real estate agents use it to help you determine an appropriate listing price for your home and to inform you about the price range you can expect given your local market conditions.
Attract qualified buyers
There are many ways agents attract buyers, but it is standard practice to place the property on the Multiple-listing service (MLS) and to make sure the listing shows up on major real estate portals such as Zillow and Trulia. Your listing should have a complete and clear listing description and professional photographs. You should ask your agent what additional tools they have to attract buyers.
Screen qualified buyers
Your agent should speak to every potential buyer’s agent to vet the offer and to gauge their interest. Your agent should be able to find out how much money a buyer is putting toward a down payment, how much earnest money they are willing to put down, and how soon they want to close. Serious buyers usually have definitive answers to these questions.
Facilitate showings
Your agent should coordinate showings, and always give you an agreed-upon amount of notice ahead of time. Remember, you have hired an agent to sell your home so it is best if the agent is present at all showings.
Sell in a reasonable timeframe
The ideal timeframe depends on your real estate market. Your real estate agent should tell you what the average time on the market is for your area and provide an estimate on how long they think your home should take to sell.
Convey offers, handle paperwork and facilitate negotiations
Your agent is legally required to tell you about all offers. It is also their job to handle all negotiations between you and the buyer and guide you through actions that need to be taken to close the deal, like signing paperwork and arranging inspections and appraisals.
While the services above are standard in all listing agent-seller relationships, the best agents go above and beyond to provide additional benefits.
Understanding new technology
Leading agents incorporate new technology into the selling process. Not only does technology help agents find more buyers but it also helps buyers find your property, which is a benefit for you.
Videography
Professional photography should be standard for any real estate agent, but great agents realize how multimedia entices buyers and finds more buyers. A great agent will offer videography which piques buyers’ interest and minimize showings from buyers who end up not being interested. This can also attract out-of-town or international buyers who cannot tour the property in person.
Access to private off-market networks
Great agents are usually ranked in the top 10 percent of their market, which gives them access to specialized networking groups. With a large network of other top agents at their fingertips, great agents can test buyer interest in your listing before it even hits the market, which can limit your homes days on the market – a plus when it comes to attracting buyers before the listing becomes stale.
Great real estate agents have highly developed skills that set them apart from an average agent. Additionally, a great agent invests time, energy, and money to hone their skills, increase their knowledge base, and to network with peers within the real estate industry.
Communication with seller
A great agent knows the importance of great communication with their clients. That means they clearly set expectations, field questions whenever you have them, take phone calls when you need their help, provide feedback on everything from pricing to home improvements, and give suggestions to help you get the most money from your sale.
Communication with other realtors
In addition to their communication with you, a listing agent also needs to be skilled at communicating with the buyer and/or buyer’s agent. They need to respond promptly to buyers’ agents, respond promptly to showing requests, and speak clearly during negotiations and communicate your needs and wants.
Professional reputation
Great real estate agents operate a retention and referral-based business, which means that most of their clients are repeat buyers and sellers or people referred to them by past clients. These agents are likely to have outstanding online reviews.
Local market knowledge
A great agent will know what sells in your area and will know ow to highlight your home’s best features to get top dollar. They will also be aware of seasonal trends in your market and can help you determine the best time of year to sell for more money and less time on the market.
Strong market strategy
Great agents include the services of a professional photographer and videographer in their commission fee. They have a strong social media presence and are eager to post your listing on sites like Facebook and Instagram. These are only a few examples of a strong market strategy. A great agent should have a comprehensive marketing plan so you know exactly how your home will be marketed to the public.
Professional network
A great agent will have recommendations for real estate attorneys, stagers, home inspectors, contractors, and other vendors that you may need when selling your home.
In addition to their service offerings and real estate industry-specific skills, great real estate agents are dedicated, determined and willing to help make selling your home as trouble-free for you as possible. Great real estate agents have specific character traits that set them apart from other agents.
Trustworthiness
A trustworthy agent will not try to persuade you to work with them by giving you an unrealistic listing price. They will be ethical and adhere to the standards of the National Realtor Association. They will always set reasonable expectations, explain their responsibilities, and give you time to review the listing agreement.
Sincerity
Great agents are always honest, even if it means saying things you do not want to hear, like your home is not worth what you think it is or that it needs improvement. They build a relationship with you based on honesty and keeping your best interests at heart.
Integrity
Top agents put their seller’s needs above their commission. That means they will go above and beyond to move a deal forward, whether they are physically pitching in to help get your home staged or buying a new light fixture the buyer wants.
Work ethic
Real estate is not a Monday through Friday, 9:00 AM to 5:00 PM job, and a great agent understands and embraces this. They will not resent clients for reaching out to them outside of traditional working hours.
Empathy
Great agents know that sometimes plans change and not every deal works out and they will understand if you decide to take your home off of the market. A great agent will not hold your listing hostage with a cancellation fee if you have a change of heart.
Aside from services, skills, and traits, the best real estate agent for you depends on your goals, your communication style, the level of support you need, and your personal values. We are confident you will find the best agent for you here at S&B Realty.
Once you have chosen your S&B Realty agent (your listing agent) you will work together to set a price and prepare your home for photographs and sale. Now you are ready for the public to see your home.
What is a showing?
A showing is when a potential buyer looks at your home and is considering purchasing it. A showing can take place during a scheduled appointment or during an open house. An open house is scheduled on a particular day and block of time where anyone can come by without an appointment to view your home.
How do I prepare my home for a showing?
Your S&B agent is a great source of advice regarding home preparations so that your home generates the highest offers, and your home is being presented in a manner that highlights its best features. Before photographs are taken and before the first showing you should:
- Clear and clean kitchen counters – this includes removing the paper towel holder, kitchen towels, soap dispensers, small appliances, cutting boards, etc.
- Clear and clean bathroom sinks, tubs, and showers – including shampoo, soap, facial tissue, toilet bowl brush, wastebasket, put seat cover down, etc.
- Replace burned out lightbulbs.
- Turn on all the lights throughout the entire house.
- Open all window treatments.
- Remove unnecessary furniture and décor – including drink coasters, remote controls, personal photographs, religious items, political items, etc. – remember, less is more.
- Remove floor mats and runners – including kitchen mats and bathmats.
- Turn off all ceiling fans, tv’s and computer screens.
- Clear appliances of magnets and clutter
- Make all the beds – make certain sheets are tucked neatly under comforters, pillows are plumped and straight, etc.
- Place all shoes, jackets, clothing in closets.
- Clear all nightstands and dressers of miscellaneous items.
- Remove all pet items.
- Have windows cleaned.
- Reorganize your closets and pack excess items.
How can I help to make a showing successful?
- Leave you home when it is being shown. Buyers need to visualize themselves in the home, and it is difficult to do so if the owners are there.
- Make your home available as often as possible. Although it is inconvenient to show your home on weekends it is important to remember that this may be the only time a buyer can see the property.
- Listen to the feedback from your S&B agent about ways you can make your home more appealing.
What is an offer?
An offer to buy your home is a purchase agreement signed by the potential buyer that includes:
- The amount of the offer
- An explanation of how the buyers will pay, such as cash or a loan.
- The terms – such as the inspection period, contingencies such as the sale of the buyer’s home, or a satisfactory appraisal.
- A target date for the closing.
- An earnest money deposit.
- A time limit for the offer.
Now that I have received an offer how do I evaluate it and decide how to respond?
An offer to buy your home is a purchase agreement signed by the potential buyer that includes:
- The amount of the offer
- An explanation of how the buyers will pay, such as cash or a loan.
- The terms – such as the inspection period, contingencies such as the sale of the buyer’s home, or a satisfactory appraisal.
- A target date for the closing.
- An earnest money deposit.
- A time limit for the offer.
What happens if I receive multiple offers?
If you receive multiple offers, your S&B Realty agent will advise you on one of these options:
- Accept the best offer. If one offer stands out above the rest, you can accept that one right away, but be careful not to be swayed by a high offer if the financing seems uncertain or if the buyer has not explained how they are going to handle a low appraisal.
- Ask for all potential buyers to give you their best offer by a certain deadline.
- If there is one offer that is close to what you want, counter that offer to see if they will accept it.
Most buyers request a home inspection as a condition of their offer. A home inspection is a thorough review of your home’s structure and systems by a professional home inspector. Buyers can use the inspection report to decide if they want to rescind their offer if a major issue is uncovered or to request repairs if the contract is contingent on a satisfactory report. In some cases, a home inspection is solely for the buyers’ information and cannot be used to negotiate. Sometimes it is advantageous to have a home inspection when preparing your home for sale. This provides you with the opportunity to remedy any issue that may hinder the sale of your property and is a nice incentive to a prospective buyer.
What is looked at during a home inspection?
The inspector will check:
- Structural conditions such as the foundation, beams, and floors.
- Roof conditions.
- Mechanical systems such as heat and air conditioning.
- Hot water tank.
- Appliances – to make sure they are working.
- Plumbing – for leaks, rust, and water pressure.
- Electrical systems such as grounded outlets, and code violations
- Safety issues such as stairs, handrails, mold or chimney maintenance.
What is not looked at during a home inspection?
The inspection will not check items that are unusual or inaccessible, such as:
- Septic systems
- Wells
- Underground pipes, sprinkler systems
- Pipes and electrical behind the walls.
- Swimming pools and spas
- Anything that is blocked by furniture or other items.
How should I prepare for an inspection?
Before the home inspector arrives, you should:
- Clean your home.
- Remove or place your pets in crates.
- Replace all blown out light bulbs.
- Empty your washing machine, dryer, dishwasher, and oven.
- Make sure everything is accessible including your attic, your garage, and any sheds.
- Leave documents/warranties about maintenance and repairs.
- Identify anything that does not work and explain if you are going to get it fixed.
- Leave the house.
Now that the inspection has been completed, what is next?
The buyer is the party that orders and pays for the inspection, so the inspection belongs to the buyer, and they have no obligation to share it with you. Once the inspection report has been generated, you and your S&B agent can discuss how to handle any possible issues the buyers mention. You can negotiate with the buyers, decide to fix an item, give the buyers a financial concession for the buyers to fix it themselves, or provide documentation that the problem has already been addressed.
An appraisal is usually required when the buyer is purchasing your home by securing a loa. An appraisal is an objective valuation of your property that serves as a safeguard for the buyer and the buyer’s lender. Although the buyer pays for an appraisal, the appraiser works for the lender. The appraiser determines the value of your home based on similar properties that have already been sold in your area.
How is my home appraised?
Appraisers research other properties and neighborhood values, as well as an in-personal visit for the evaluation of your home. An appraiser may look at:
- Comparable properties in your area that are of similar size, age, and condition.
- The square footage of your property.
- The number of bedrooms and bathrooms.
- Your location.
- The quality of your flooring, windows, or improvements.
How should I prepare for an appraisal?
- Provide a list of all major improvements to the home and the age and condition of your roof, heating and air conditioning systems, and appliances.
- Clean your home.
- Remove or place your pets in crates.
- Leave the home or stay out of the appraiser’s way.
How can an appraisal affect the sale of my home?
The appraised value dictates the maximum amount the lender will allow the buyers to borrow. An appraisal could require renegotiation of the sales price if the appraised value comes in lower than the sales price. Depending on how the contract was written you can:
- Ask the buyer to come up with extra cash to make up the difference between the loan amount and the purchase price.
- Reduce your price to the appraised value.
- Split the difference with the buyer.
- Cancel the contract.
Your S&B agent can advise you on your options in the context of the contract and current market conditions.
Your closing will take place ON THE DATE indicated in the purchase contract, unless there has been a formal addendum changing the date.
What should I do to prepare for the closing?
- Complete any repairs required by the contractor. Provide receipts and invoices to your S&B agent.
- Gather all appliance manuals and warranties for the buyers.
- Hire a mover. You must be moved out the day BEFORE the closing.
- Cancel all utilities for the day of the closing.
- Change your address.
- Bring any rented equipment such as cable boxes, and modems to the service provider.
- Review all settlement documents received from the title company/attorney.
- Clean the house.
- Give all your keys (house, mailbox) and access devices (garage door opener, FOB) to your S&B agent.
What’s next?
- You can sign all your paperwork before the day of the closing.
- If you live in another state or country, you can sign all your paperwork without traveling back to Florida.
- You will receive the proceeds from the sale, usually by wire transfer.
- Cancel your homeowner’s insurance after the closing, to make sure you are covered on that day.
- Save your closing documents and home improvement records for tax purposes.
FORT LAUDERDALE FL 33308