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Q. Why shouldn't I price my house a little high, since I can always drop the price later?
A. That's a strategy that sounds good - but, in fact, is more likely to result in a lower price. Here's why. The first few weeks a house is on the market is when it will have the most activity. If a house is overpriced, it has to compete with houses at that higher price level, which are houses at that higher price level, which are almost certainly larger or have newer/more luxurious features.
So the overpriced home is unlikely to attract an offer. Worse yet, those first weeks are when real estate agents preview the house. If it's overpriced, they may not even bother to show it to their buyers. Eventually, the seller will have to drop the price - and may end up with an even lower price because Buyers will wonder why the house has been on the market so long and may factor that into their offer.
Q. What is meant by the term “contingency” in a sales contract?
A. Sales contracts typically contain several “contingency” clauses, or stipulations that the sale is subject to. For example, with a mortgage contingency, if the Buyer is unable to obtain financing within the specified timeframe, neither the Buyer nor the Seller is required to complete the purchase. Among other common provisions in the “subject to” section are termite and other inspection issues and the purchaser's need to sell a current home first.
Q. What should you do first – Buy or sell?
A. If you already own a home, you're probably struggling with this basic question: what do I do first, buy the home that I want or sell my existing home? And the answer is as individual as you are. Generally, most real estate professionals would advise you to list your present home and shop for your new home simultaneously. However, depending on the market and/or your individual needs, you may want to consider an alternative. In a very robust real estate market, a home could sell within a few days of listing. So if you have very specific criteria for your new home with regard to location, size, views, age, etc., in a competitive market you may want to begin searching for and buying that home first before you sell your existing home. Your Hartman & Associates sales associate will discuss with you fully your individual needs and circumstances to help you find the right solution.
Q. What do you need to consider when preparing to sell your home?
A. There are many things to consider when preparing to sell your home, and the more prepared you are for the journey, the easier it will be. Here are some basics to consider: Presentation is everything! You'd be amazed at the difference “cosmetic” improvements can make in how Buyers react to your home. So you may want to spend some time sprucing up your home with paint and landscaping as well as taking care of necessary repairs you may have been avoiding. This not only will help you get the very best price, but may help you get an offer sooner.
Making arrangements for pet care If your house is also home to a cat or dog, that can be noted in your listing so that real estate Agents act with due caution. You may want to close your pets off in a separate room or fenced area outside, or request advance notice when your house is to be shown.
The value of placing a lock box on your home is very beneficial to you. A lock box is a key storage system placed on an entrance to your home that is accessible only by active, licensed real estate agents. With today's technology, lock boxes allow us to know which Agent showed your house and when. A lock box allows Agents to show your home when you're not there, without having to go to the listing Agent's office to obtain (and later return) the key. By making it more convenient for real estate Agents to show your home, it will be viewed by a greater number of buyers.
Q. How do we begin the process?
A. Of course, the pivotal person in all this is your Hartman & Associates Agent, who plans the marketing activities and sets them in motion. A thoroughly thought out marketing plan is a critical factor in selling your home and getting the desired price, and that begins even before the “For Sale” sign is placed out front. With over three decades of experience in the real estate industry, at Hartman & Associates we thoroughly school our Agents in how to do the vital research and planning that will bring results right to your doorstep! What also helps us bring results is that Hartman & Associates has established a strong local presence. You may have noticed that our office is an enthusiastic participant in charitable community events, and many of our Agents are actively involved in the communities they serve. Since most people find a real estate Agent and a home through personal referrals, our Agents produce solid results because they are an integral part of the fabric of the community.
Q. What’s my agent going to do for me?
A. At Hartman & Associates, we do our homework in order to effectively sell your home.
In an initial meeting, your Hartman & Associates Agent will measure each room in your home, take exterior and interior photos, and assess the key features. The Agent will also ask about any improvements you may have made over the years.
Other topics of discussion might include how to make your home more valuable to the average Buyer and whether major appliances will be included in the sale. This is also an opportunity for you to bring up whatever concerns you may have.
Your Agent will then create a customized marketing plan and presentation that will give you a clear idea of what you can expect of us. That presentation may include:
1. a comprehensive market analysis
2. a schedule of marketing activities
3. Ad copy, along with a list of newspapers and marketing publications in which the ad for your home will appear
4. promotional materials with photos of your home and its special features – prepared as handouts to prospective buyers or for distribution to a custom mailing list
Once you list with us, we will immediately start putting the marketing plan into action, to help you achieve a timely sale at the best possible price.
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