Questions a Seller Should Ask a Realtor Before Listing Part I
Selling your home for an ideal price is all about being prepared. It’s your realtor’s job to help you prepare by equipping you with essential information about your home’s condition, the current market, and your selling strategy.
That’s a lot of information so to simplify this process, we’ve broken it down into two sections, so you know what to focus on when meeting with realtors. First, you’ll want to update yourself about the current market, and then you’ll get into the nitty gritty of finding your target buyer.
On that note, here’s part I of our list of questions a seller should ask a realtor before listing:
Is This a Good Time to Sell In This Neighborhood?
A great starting point is learning about your local real estate market. Are you currently in a buyer’s or seller’s market? Or is it more balancedl? Are many comparable homes on the market in your area? The idea is to see how much competition you’re working with, and how your neighborhood is generally perceived by aspiring homebuyers. The more competition you’re facing, the more important it is to maximize your home’s value.
What are Homes Like Mine Selling for Right Now?
The first step towards calculating your home’s value is looking at the “comps,” or comparable properties in your area that were recently sold. What was the average for-sale price? Did most of them sell for above or below asking price? What was the condition of the homes (compared to yours)? How many offers did they receive?
The comps are your main criteria for what’s considered a high, average, or low price. If you price your home considerably higher than the comps, you will attract fewer buyers as they are looking at the same numbers we are.
Who is the Likely Buyer for My Home?
This is a question most sellers don’t ask, but when you are interviewing Realtors asking this question will give you a lot of information on how they think. If they see your home as ideal for first-time buyers, buyers looking to do extensive renovations, couples without kids or families, it changes how you prepare the home for the market.
For example: if you have an older home in the Gables on a larger lot, it’s prime for someone looking to build new construction or do extensive renovations. So while you could update your kitchen or your flooring, you likely won’t up the sale price as much as the cost of the renovation.
The more information you have on where your home fits in the market in regards to buyers, the more effective it will be to cater your selling strategy to their unique needs – and a good Realtor will be able to maximize this factor for you.
Should I Wait or List Now?
The right answer is to list when you are ready. There are pluses and minuses to selling at every time of the year and the best time to list is when you are ready and the house is ready as well.
We always recommend interviewing Realtors six months before you think you are ready to put your home on the market so there is time to handle any lingering maintenance issues, clean up the landscaping (if necessary) et cetera. Of course, we can always move that timeline up based on your needs.
What is My House Worth and How Did You Determine That?
Before you determine your home’s selling price, ask your realtor what they believe the house is worth right now. If someone were to buy the home today, what would be considered a good offer?
Then, by taking it a step further and asking your realtor how they arrived at this number, you’ll learn more about their approach and whether you will work well with them or not. Your realtor’s answer will tell you how far you are from the price you have in mind, which brings us to our next question:
What Should I Fix or Improve Before Listing?
There are many things you can do to increase the value of your home, from upgrading your kitchen and bathroom to hiring a professional cleaning crew to replacing old lighting fixtures. However, your realtor knows what’s most important to your target buyer. So, ask them what kind of changes will make the biggest impact on their perceived value of your home. Certain upgrades may be worth your time and effort, whereas others might not.
Your Realtor should be able to approach your home as if they were representing a buyer and speak to you about what’s going to move the needle (and what won’t).
Should I Stage My Home?
The answer should always be that you should make your home inviting so when a prospective buyer sees it online and then tours it, they can envision themselves in your home.
Does that mean staging? Sometimes. Often, it means using the furniture you have to make the space feel as open as possible and people can see the uses for each room clearly.
How Will You Market Property?
It’s easy for a realtor to say they will do their best to get the price you have in mind. It takes a bit more thought to explain how they actually plan to make this happen. How will they market your home to your target buyer? What kind of marketing strategies have worked for them in the past? Will they be taking professional photos and videos of your house?
Before agreeing to list your home, you should be confident in your realtor’s ability to follow through on their words. A comprehensive marketing strategy also shows that your realtor wants to sell your home quickly and out-perform your competitors when it comes to attracting attention.
Speaking of highly experienced real estate agents, the Kern Team is happy to be of service when you’re finally ready to sell your home. We’re also available to answer any questions you have about the market or the home selling process. We pride ourselves on keeping our clients informed, and that includes 100% transparency with each step of this life-changing experience!
