Knowledge of your particular area is also crucial. “Your realtor doesn’t necessarily need to have a shingle in your area, but you want someone who is comfortable in your neighborhood,” Michael says.
A bigger issue than price
Ultimately, the goal of the interview process is to find an agent with whom you feel comfortable and confident working—not necessarily the person who promises the most money.
“Don’t always go with the person who gives you the biggest price,” Michael cautions. “You can list a house for one-million dollars, but that doesn’t mean someone will buy it. Exposure is a bigger issue that price.”
Therefore, be sure to ask the agents you interview where they plan to advertise your house. The more your house is seen, the better your chances of a successful sale.
Why use an agent?
Although the Internet now makes it easier to see and even post real-estate listings on your own, a real-estate agent can get your property far greater exposure than if you choose to go it alone.
Homeowners who try to save on real-estate commissions by selling their property without the expert help of an agent almost always lose money in the long run, says Michael. “You aren’t paying a realtor for anything until your house is sold.” In contrast, many of the avenues which allow homeowners to advertise and sell on their own require payment up front.
Furthermore, since realestate agents have a license regulated by the state, they are knowledgeable about legal issues like contracts and fair housing laws that could confound the average homeowner, reports Realty Times.
“Your house is your biggest investment. Don’t gamble. It might not save you money,” Michael says.
A solution to real-estate fees
Still, there are ways to avoid paying many typical real-estate fees without sacrificing quality.
Tracy Dellaria is the retirement counselor at Sedgebrook in Lincolnshire. She says that the people who move to her community save thousands of dollars on closing costs and commissions— not just once but twice.
“First, unlike other real-estate transactions, the entrance deposit we offer at Sedgebrook lets you avoid a laundry list of settlement fees, transfer taxes, and other out-of-pocket expenses usually associated with closing costs.
“Second, since the entrance deposit is returned to you should you ever decide to move out of the community, there are no transaction fees or commissions on the resale. Sedgebrook saves you that cost once again.” Tracy says.
A good season for sellers
Despite media reports on the state of the market, Tracy reports no slow-down in the number of people planning a move to her community.
Likewise, Michael sees a positive forecast for sellers. “The economy is up, stocks are up, and interest rates are good. There is no reason for anyone not to buy.” Buyers are more serious today, Michael explains. Generally, they are motivated and eager for a fast sale.
Still, Michael has a few tips to help you further shorten your selling time. Be sure that your house is clean and in move-in condition. Put up your holiday decorations so that potential buyers will see your house as more than just another property, but as a home where they would want to live.
Even though home improvements may be the last thing you want to do once you’ve made the decision to sell, Michael says that a fresh coat of yellow paint or new, maple cabinets make a big impression on buyers. Don’t be afraid to spend some money. “Your investment comes back, usually two-fold,” she says.
Above all, price your house right. Here, the expertise of a real-estate agent is crucial. A good agent has the experience, resources, and enough knowledge about other properties in your area to get your house seen—and to get it sold.
What to ask your agent
How do you find the real-estate agent that’s right for you and your house? The U.S. Department of Housing and Urban Development (HUD) recommends several questions to ask your potential agent:
Knowledge and Experience
• How many years of experience do you have?
• What is your knowledge of my neighborhood?
• How many listings do you currently have? What percentage of those listings have you sold?
• Do you have references?
Selling Strategy
• What is your marketing plan for my property?
• Where will my property be advertised?
• Will you personally plan and coordinate meetings with potential buyers?
Availability
• Are phones in your office answered seven days a week?
• Will you be available to me after traditional office hours and on weekends?
Fees and Commissions
• How are your fees structured?
• Can I get that in writing?