- Make sure your mortgage is current. If you’re listing a short sale, research agents who have experience with short sale listings.
- Pack up/store all items you don’t have a pressing need for prior to the listing appointment. Clothes that are not in season, shoes, excess linens, trinkets, memorabilia, holiday decorations, multiple sets of dishes, family photos, etc. Personal items can sometimes encourage bias against your listing. A streamline approach is best for staging purposes to appeal to a larger pool of buyers. Some of your existing items can be used to show how spaces can be utilized and to demonstrate scale—give an idea of how large a room is so buyers can envision their items in the space. Empty spaces often appear smaller than they actually are.
- Maintain any landscaping until the property is sold. At the very least, keep the grass cut and trim tall plants near the house.
- Ensure there are not any outstanding HOA violations. Remedy any issues prior to listing the property.
- Gather all pertinent documents regarding the property. Loan payoff, HOA contact info, repair documents, warranties, and other paperwork relating to the age and/or possible issues with the condition of the property. A home inspection will be conducted and buyers will use the results to negotiate on price and repairs. Latent defects undisclosed and/or not remedied could jeopardize any contracts offered on the property. Listing as-is is a possibility if you cannot afford to make repairs, however, it will most likely affect the price of the property and bring a lower appraisal amount. Consult your agent on all this once you’ve hired one.
- When considering agents, don’t just grab the first one who offers, or the one you know. Interview a few. Make them prove they will advocate for you and your best interests. Listen to what they’re saying. Discern whether they’re good enough to have your business. Do they listen to you? Are they prepared? Listen for cues on their ability to read the market and price your property fairly based on comparable ones. They should show you these comps and explain their strategy for choosing that price. Remember, this is not an exact science. Time will tell if you’re priced too high or just right.
- Don’t fight your agent. Once you’ve signed the representation agreement, cooperate with them. Your agent will ask you to make adjustments to the property that may include repairs you didn’t anticipate. They may ask you to freshen it up a bit to stay marketable, in line with comparable properties at the price you’ve agreed on. Do what you can. A capable agent will know how to accept what you cannot do, and will adjust the price/marketing strategy accordingly.
- Be reasonable. Buyers and their agents are in the market for property. They will likely have seen many homes in your market and they are therefore armed with the same market info you have. They’ll know if your property is in need of updates or if it’s overpriced. Even if you’re in a seller’s market, buyers with financing will only pay so much for a property because it still must appraise at that value.
- Be as flexible as you can with showing times. Vacant properties offer agents freedom to show the property at almost any time, so you’ll get the most visibility. However, if your property is still occupied, find ways to open up the showing times as much as possible to capture the most buyer attention. Once you’ve accepted a contract, be prepared to grant access to a home inspector, termite inspector, appraiser and the buyers for their final walk-through.
- Leave the property during showings and do not interact with potential buyers. Do not encourage any bias for or against your property. Let the property speak for itself.
- When considering offers, consider all aspects of the offer including price, time to settlement, days to obtain inspection results, types of inspections, etc. Listen to your agent’s guidance.
- Ask questions. If you need clarification on anything, disagree with anything, prefer something different, make sure your agent knows this. Selling your property is a huge endeavor. It should feel like a partnership where your concerns are heard and respected.
- Be honest. Your agent is bound by ethics and legalities regarding the contract, the sale and the condition of the property. Don’t put them in a tough spot by withholding information. Let them help you find workable solutions for anything that comes up during the term of your listing agreement.
- Let your agent lead you during this process. Even if you’ve sold property before, you’ve hired a professional to represent you. Allow them to do that.
- When you’ve closed the sale and gotten that nice profit, send your agent some good referrals.
I wish you all the best on your sale. If you have any questions, please let me know.
TDF