If you have a home to sell, you’re probably excited to get the process started. There are many things you need to consider when selling your property, and it’s hard not to feel overwhelmed by the task. The good news is the Forever Homes team has done extensive research on what you need to know about selling your home – and we’ve answered the questions you’re probably wondering!
How will you determine my home’s value?
To determine your home’s value and set a listing price, I will complete a Comparative Market Analysis (CMA). The CMA uses recent sales of homes close in geography, age, size, and features to yours. (A CMA is not the same as an appraisal, which a licensed appraiser can perform.)
Is it good to start high?
Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical.
- First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run.
- Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled.
- Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction.
It’s best to set a realistic listing price that will bring you buyers quickly. My goal is always to get you the highest possible price in the shortest amount of time.
What percentage of the listing price can I expect to get?
The list-to-sell ratio is determined by dividing the selling price by the listing price. The ratio is largely market-driven. In a sellers’ market, such as we’re in now, is when inventory is low. Sellers may get close to 100% or over 100% if the home sells above list price. In a market with a large inventory of homes, a buyers’ market, buyers have more negotiating power, so the list-to-sell ratio may be closer to 90%. My goal is to get you as close to a 100% list-to-sell ratio as the market will bear.
How soon can I get my home on MLS?
Once we agree to work together, I will begin entering your home information on the MLS system. I will also schedule a time for a professional photographer to take photos of the property. As soon as all the information and pictures are uploaded items, your listing can go live on MLS!
What do I need to do to get ready to list?
- Clean out and/or organize storage spaces, closest, and drawers
- Store away decor or belogings
- Pressure wash the exterior
- Freshen up landscaping and front entry
How will showings be conducted?
You and I will agree on the terms you are comfortable with for showings. We want to make the home accessible to buyers without too much disruption to your personal life. We can use a showing schedule, and unless we agree otherwise, I will notify you in advance of showing requests. We typically use electronic lockboxes that only active members of our local Realtors association can access. We can set the lockbox on a schedule, if necessary. Any time the lockbox is accessed, I receive a notification.
How will you market my property?
Marketing your listing is of utmost importance. Most buyers find their properties online through MLS (via their agent,) Realtor, Zillow, or other search engines. Listings in our MLS system automatically show up on these sites within a day or two of becoming active. In addition, I share my listings with the agents in my network, on my website, and on my social media. We can discuss additional opportunities such as hosting open houses and marketing within your neighborhood.
How long will it take to find a buyer?
Several factors influence the time it takes to find a buyer:
- Market conditions (buyer vs sellers market)
- Price Range (higher-priced or luxury homes typically take longer to sell)
- Location (is your home is in a desirable neighborhood or a unique location?)
- Condition of the home (is move-in ready or in need of renovations?)
In a balanced market, most houses, when priced accurately and without significant damage or extenuating circumstances, go under contract within thirty days. Homes sell faster in a seller’s market, while buyers take more time to look when inventory is high.