Selling a home can be one of the largest financial transactions in your life. You will find the home selling process significantly different than what you experienced as a buyer.
Selecting the correct agent to represent your home is crucial. An agent with knowledge of your local market, experience in selling, and willingness to work as your partner in the transaction will make your experience far more positive. And as a seller, you evaluate not just the agent, but the company the agent represents. Berkshire Hathaway HomeServices Michigan Real Estate is built on the foundation of a full service brokerage—providing a team of support staff to assist the agents at every step in the process. Representing integrity, strength and investment prowess, we make a great partner.
Select your Agent
Once you have decided to sell your home—choose your agent wisely. The best decision you can make is to select the agent that commits to explain things you may not want to hear, but truly need to hear. It is the mark of a professional to be honest and forthcoming about the expectations in a home sale.
Make the Commitment
Making the decision to sell your home is a major commitment. You are committing to be in regular contact with your agent and communicate closely, keep your home clean and orderly, make the home available for showings, keep the sidewalk shoveled, and any number of small continuous tasks that can help your home sell faster, and a higher price. But it is work, and does take effort. It’s a commitment.
As a seller, it’s crucial that you research and stay informed. Ask your agent what the home down the street sold for. Ask how many times your property was viewed online. Taking a proactive stance in understanding your local real estate market will equip you with the knowledge to truly understand the value of every offer that will be placed on your home. You’ll feel more confident about the sales process, and secure in the offer you finally accept.
The Pay Off
The offer. When your agent approaches you with your first offer, your research and local market knowledge will provide you with an instant barometer of the reasonability of the offer. An important piece of advice to sellers is to have thick skin. The value of your home is entirely based on what a buyer is willing to pay, and what a seller is willing to accept. A low offer isn’t an insult, but rather a difference in opinion. The buyer may have been looking for home for 6 weeks—they looked at your home and said “this is what we think it’s worth.” Be informed, understand the offer. Never reject an offer. If you’re an informed seller, and you’ve been watching and listening to the local market, you can review the offer with perspective and respond with a reasonable counter.
By definition, your home is worth what a buyer is willing to pay, and a seller is willing to accept. An appraisal done after the purchase agreement provides the appraiser with one more piece of information to determine value. This can make a difference, as the appraiser simply confirms the sales price per the purchase agreement.
After the Offer
As a seller, be understanding. Buying a home is a complicated process. The buyer’s mortgage company will put restraints on the transactions—such as inspections and appraisals. Be understanding of the buyer’s process—the requirements to test the water perhaps, or for lead based paint, molds, radon. Inspectors are paid to find things that may be wrong—even new homes may have issues. This is part of the disclosure process for all parties, and is good for all parties.