Working with an agent

To begin with, think local. Select someone who is the right fit for your needs. Select someone who is very familiar with your neighborhood and the properties for sale in it. A CENTURY 21® Agent has the regional expertise along with a global network available to them. Because you will want the widest possible exposure for your home, you also will want a real estate firm that works with other agencies to get your property sold. Beyond these parameters, select an agent who is competent, efficient, and ethical. Perhaps the agent who first sold you your home would be a perfect candidate. If not, ask family, friends, and neighbors for recommendations, or choose a firm headed by an individual who is known in your community. We think that the most important thing to consider when you are selecting an agent is how technology savvy they are. Did you know that 93% of people that are looking for real estate start their search on the web. Make sure you have an agent that can promote your property the right way. The Amenity Real Estate Group offers a FREE address specific website for anyone who lists their property with us. Check our featured listings page to see how we work.

· The worth of your home. The agents should inspect the home and prepare a written comparative market analysis.

· Marketing plans. These are a must. Ask an agent what the plan would be to market and sell your property. Discuss open houses, newspaper ads, the local Multiple Listing Service (MLS) - which gives your home maximum exposure to all local agents. Definitely be sure to discuss the agent’s interactive marketing plans for positioning your property on the internet. This is a critical piece to marketing a property in today’s market.

· Length of the listing duration and consider the local market conditions. Understand their standard listing agreement. Experts advise against signing a listing for more than 90 days unless it contains an unconditional cancellation clause. If you like, you can always extend the contract later.

· Number of listings. Find out how many listings the agent now has and how many he or she normally sells in a month and over the course of a year. Too many listings - more than 50 - with a low sales rate, may not be a good sign.

· Get references. Ask for the names and phone numbers of recent home sellers. Call them and ask if they were satisfied with the level of service delivered by the agent.

 

The most common type of contract for listing properties is the exclusive right to sell. It gives the real estate broker the exclusive right to sell your home during the term of the listing. If a sale occurs - even if you sell the home yourself - the broker gets a commission. The broker may share the listing with other brokers on the Multiple Listing Service (MLS) to get the widest possible exposure for your home. If you request that the property not be listed on a multiple basis, only the broker named in the contract and his or her sales agents can market and show it.

 

There is no standard commission. They are not set by law and vary depending on service, customer needs, and company policy. In general, agents charge between 4 percent and 8 percent for full service. If you insist on pricing your home above the agent’s market analysis, an agent may require or request a higher commission to cover the added marketing expenses and time which will be needed to sell it. Think of a commission as a point you must negotiate and evaluate.

Setting the price

A key part of the marketing plan is setting the list price. If a home is priced too low, you won’t benefit from the optimal profit. If a home is priced too high, potential buyers may be scared away. To determine the best asking price review the cost of recently sold homes, evaluate the competition and study marketplace trends. CENTURY 21 Sales Associates are trained to use this information to help you reach the right asking price. It is also helpful to discuss other terms and conditions, such as timing and items that can be included with the sale of the home. Both of these can make your home more attractive to potential buyers.

                 1.              Location: You can't get away from this one. If your house is located in a desirable area that is in demand, you will be able to get a higher price                           than you can for the same house in a less desirable area.

                 2.              Condition: A house that has been better maintained and shows better will always sell for more than one that has had deferred (neglected)                             maintenance and needs work.

                 3.              Desirable amenities: If a house has amenities that are currently popular in the marketplace, it will bring a higher price.

                 4.              Calculate the price per square foot: The average price per square foot for homes in your neighborhood shouldn't be the sole determinant of the                               asking price for your home, but it can be a useful starting point. Keep in mind that various methodologies can be used to calculate square f                                 footage.

A formal written appraisal can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, or if there is any other circumstance that makes it difficult to put a value on your home. Appraisers consider the location of the home, its proximity to desirable schools and other public facilities, the size of the lot, the size and condition of the home itself and recent sales prices of comparable properties, among other factors.

Showing your property

Although the buyer is a guest in your home, you want the buyer to imagine owning the home. You don't want to make the buyer feel like an intruder.

Now it's time to get your home ready for the spotlight. Start with a good cleaning, then eliminate any clutter, add a fresh coat of paint and tidy up the yard. Talk to your real estate professional about other tips that can help boost a home's curb appeal and impress potential buyers once they're in the door. One way to make a home more attractive is to purchase a Home Protection Plan. This insurance protects you, the seller, from paying repair or replacement costs of major items during the listing period. It also protects the buyer during their first year of homeownership.

Check the Temperature If weather permits, open the windows -- if there is too much noise outside, close them. And if it's cold enough to wear a sweater to stay warm, turn on the heat. You want the temperature inside to be comfortable and to give the buyer more of a reason to linger, especially on hot or cold days!

Create a Mood Light A fire in the fireplace, and if you have water fountains, turn them on. They are especially useful for drowning out traffic noise.

Play Up the Visual Open all the window coverings to let in light. Keep blinds partially closed that otherwise show undesirable outdoor scenery such as a dilapidated fence or a nearby structure that obstructs views. If you have seasonal photographs showcasing flower gardens, leaves bursting in color or a snow-covered lawn twinkling from street lights, then display them in a prominent position. Turn on every light in the house, including appliance lights and closet lights. Brighten dark rooms with few windows by placing spot lights on the floor behind furniture.

Negotiating the deal

When a buyer is ready to make you an offer they will contact you or your agent to let you know. Buyers should present their offer formally with a contract of purchase and sale. These documents can be obtained from the buyers or sellers agent, lawyer, or notary. If you are going to use their services to review the contract, and later transfer the property title to the successful buyer, they will happily supply you with some blank copies for free. It is also advisable to review one to become familiar with a typical real estate purchase and sale contract.

Most home buyers and home sellers want to arrive at a win-win agreement, but that's not to say either side would regret getting a bigger “win” than the other. Successful negotiating is more than a matter of luck or natural talent. It also encompasses the learned ability to use certain skills and techniques to bring about those coveted win-win results.

1. Start with a fair price and a fair offer
There's no question that significantly overpricing your home will turn off potential buyers. Likewise, on the buying side, making an offer that's far lower than the asking price is practically guaranteed to alienate the sellers. Asking and offering prices should be based on recent sales prices of comparable homes.

2. Respect the other side's priorities
Knowing what's most important to the person on the other side of the negotiating table can help you avoid pushing too hard on hot or sensitive issues. For example, a seller who won't budge on the sales price might be willing to pay more of the transaction costs or make more repairs to the home, while a buyer with an urgent move-in date might be willing to pay a higher portion of the transaction costs or forgo some major repairs.

3. Be prepared to compromise

                 "Win-win" doesn't mean both the buyer and the seller will get everything they want. It means both sides will win some and give some. Rather     than approaching negotiations from an adversarial winner-take-all perspective, focus on your top priorities and don't let your emotions overrule                 your better judgment.