Time to Sell Your Home? Property Listing 101!
What to expect:
Listing your home for sale can be an emotional process that can leave a seller looking in a million directions as to finding solutions in getting top dollar while not spending top dollar in repairs and upgrades to get the job done. It can also be a process of excitement, one that leaves you confident in looking toward a new horizon and knowing you're well prepared to face any negotiation. What’s the difference? An experienced, educated, and skillful Agent! Many times we hear at listing appointments “What do I need to do to get my property ready?” As you can imagine this is never the same answer twice.
To begin to answer this question, a property needs to be examined and researched on many different levels. Some examples of this are looking at comparable’s and competition, comparing the property conditions of your likely comparable’s, and considering the value ceiling of homes like yours in your neighborhood. Some educated or repeat sellers choose to do a home inspection prior to listing to identify any situations that need fixed before contracting a sale with a buyer. The minimal fee upfront may save you a deal or a long list in repair negotiations later.
When pricing your home it is important to understand what buyers in your market are currently looking for. Is the market rich with listings giving a buyer dozens of properties to pick from? When this happens sellers often find themselves in a position of needing to negotiate more aggressively which can lead them to consider more upgrades or price reductions. Maybe inventory of home listings is low? This leaves a seller in a sweet position of having multiple buyers fighting for something nice as soon as it hits the market causing tough negotiations to increase prices. At the end of the day, a skilled agent will be able to guide you in making a listing price decision. Do you list high, hoping to have room to negotiate at the risk of not meeting appraisal? Do you list low in the hopes of receiving multiple offers and getting a deal over listing price? These questions are almost always answered by market conditions! More to consider, who is the likely buyer you will attract? Is your home a starter home that will attract first time buyers that may need help with seller concessions for closing costs, or investors that have cash looking to buy rentals? What conditions influence this? Maybe your home is a large ranch with irrigation rights, farm equipment, produce production, or a horse facility? A skilled agent will help you determine value and tactic when pricing a property such as these effectively.
Something to ponder… “What if I get into contract with a buyer then I change my mind?” OR “The buyer has several contingencies to back out, do I? ” Unfortunately a seller needs to be properly prepared and understand that selling a home is a much more serious decision than buying one. The seller does not have the same contingencies as buyers to change their mind. The seller is often bound by a specific performance requirement. If a seller has special conditions that could cause them to not want or be able to sell, it is absolutely vital that these conditions be negotiated in the sales contract and not the listing agreement in order to have any enforcement. It is important that a seller be upfront with their agent from the beginning so the agent can prepare to negotiate the possible contingency.
“Ok, I have agreed to sell my home to a buyer. What stay’s and what goes?” “I just bought a brand new washer and dryer, do I have to leave it? “ “ My mother bought me the flower planters in the backyard, I can’t leave them!” As defined by the Oregon Revised Statutes a “fixture” that is required to stay has to be affixed to the property. Yes this means your curtain rods if screws hold them to the wall. This could also mean your custom T.V. mount or bolted down gazebo! An experienced agent will have a conversation with you and create a list of possessions such as these that need to be advertised as excluded in any marketing. Don’t forget, the sales contract takes precedence over the listing agreement! Anything not clarified in the sales contract could be at risk if not negotiated correctly! It is important to have an agent experienced in negotiating sales agreements on your behalf as the seller. You need a professional eye to ensure your true interests are represented when you agree to sign!
At the end of the day, I feel that you as the reader of this blog can agree that we have only covered a few of the possible questions that you may have at the beginning of making a decision to sell your most valuable and important asset. I also would venture that you as the reader have a better resolve as to why you need an agent to represent you and guide you through the process safely, confidently, legally, and professionally. I invite you, If this has inspired you to explore and converse about how Atlas Realty Group can help you, to reach out! Let’s have a cup of coffee and talk about your goals and what your individual situation creates for a successful game plan. Thanks for reading!