A listing agent has your back when it comes to the financials, like setting a listing price and marketing, staging, and making repairs to your house.
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A listing agent has your back when it comes to the financials, like setting a listing price and marketing, staging, and making repairs to your house. He or she can also help you navigate more personal issues, such as your timeline, and what you’re hoping to achieve with the sale.
When so much money is on the table, it’s crucial we:
Now, let’s break all of that down …
This is the BIG question, right? How do I set the price? The short answer is you’ll need to trust us to recommend a smart listing price. We conduct a thorough Comparative Market Analysis.
See our Section on how we market for you HERE
When offers start pouring in, we will negotiate with prospective buyers on not only the sale price but also on what contingencies are attached to the contract. As with any negotiation, there could be some stressful, fraught moments with the buyers.
Once you’ve signed a purchase agreement with a buyer we help navigate the sale’s remaining steps. This includes negotiating home repair requests post inspection and dealing with any last-minute surprises before closing.
The average listing agent does all of the above. A great listing agent does all of the above, while also inspiring your confidence — that they’re getting the best price for you, and that they’re representing you and your home in the best possible light.
Agents, Brokers, and REALTORS®: What’s the Difference?
“Agent” is a catchall phrase that is used, in casual conversation, to describe the three types of professionals who buy and sell real estate: agents, brokers, and REALTORS®. No, they’re not really the same. Yes, you should care about what makes them different.
A real estate agent is a licensed professional who helps people buy, sell, rent, or invest in homes. To become an agent, a person must take pre-licensing training from a certified institution (these vary from state to state) and pass their state’s real estate licensing exam. Once they have their license, an agent must affiliate themselves with a real estate brokerage.
Some agents specialize in representing buyers, some specialize in representing sellers. Some do both. An agent who represents both the buyer and the seller in the same real estate transaction is called a dual agent. By law, a dual agent must disclose dual agency to both parties. (If an agent is seeing other people, you obviously need to know.)
A real estate broker is a professional who has additional education beyond the agent level, as required by state law, and who has passed a broker’s exam. In some cases, brokers also have more years of experience than agents. The biggest difference between a broker and an agent is that a broker may work independently. An agent must be overseen by a broker.
A REALTOR® is a broker or agent who belongs to the National Association of REALTORS® (NAR), the largest trade group in the country. A REALTOR® commits to following a strict Code of Ethics intended to protect buyers and sellers; for example, REALTORS® pledge themselves to protect and promote the interests of their client. Agents and brokers who are not NAR members can’t call themselves REALTORS®.
When it’s time to sell your house, you may be feeling a little anxious. A chapter of your life is closing. There’s a lot of money on the table. You may be thinking “Is my house priced too high?” “Too low?” “Am I leaving too much money on the table?” These are big questions.
Luckily, we have so many resources at your disposal to figure out where your house stands among the crowd – our expertise and guidance, plus online property sites to get insight into the market.
So take a deep breath. Then do your homework. The more you know, the more confident you’ll be when it’s time to make those big decisions.
The good news: Local market info is freely available online, so you, the seller, can get a sense of what your house is worth.
The bad news: Local market info is freely available online, so most buyers will also have a general idea of what they think your home is worth.
When pricing your house, Simple Property Inc has your back in a way an online property listing site just can’t.
Our agents:
A website will do none of the above.
We’ll also recommend ways to market your house (Instagram-able photos, blog-worthy descriptions, etc.), pro stagers who can set your home up to dazzle buyers, and inspectors and contractors who can make any needed repairs.
That being said, you’ll want to have your own sense of what your house is worth too. As invaluable as a listing agent is to your selling journey, being the seller means you’re also the final decision maker.
The CMA takes a three-pronged approach to determine the fair market value for the property – where the market has been, where it is now and where it is headed.
Past Sales – determines sold property values within the past six months generally.
Present – these are properties currently in escrow. This information can be harder to discern because while we can see a property has an accepted offer and is in escrow, the data still shows only the LIST price and not the agreed sales price. We attempt to find out but it’s not always possible.
Future – these are active listings and what asking prices are establishing a forward-looking trend.
This is an important step and we have two easy methods. Automated and custom.
Today, home buyers have unfettered access to property listings online, so you have to make a great first impression — on the internet and IRL. That means you’ll have to declutter all the stuff you’ve accumulated over the years, make any necessary repairs, and get your home in swoon-worthy condition. We'll help all the way even staging, if necessary.
Home buyers look at countless listings online. The best-marketed homes have beautiful photos and compelling property descriptions. So much is needed these days - social media, videos, virtual tours, texts, and audio messages. We'll consider all these options and more. See Our Process HERE
One of the best ways to get buyers in the door is to have an open house. This is your chance to show off your home’s best assets, and help buyers envision themselves living there. We will organize, advertise, and host the event to ensure it’s a success.
Staging Really Does Help. A Lot.
A recent survey from the NATIONAL ASSOCIATION OF REALTORS® revealed that:
Staging entails hiring experts with a flair for interior design. They reimagine your living space and give your house a makeover (with temporary decor and furnishings) so that it gets “oohs” and “aahs” from the buying masses.
Great staging isn’t an insurance policy — there’s no guarantee it will bring in more money when you sell your home — but it’s an important marketing tool. It presents your house in a flattering light and helps you compete at a favorable price. (In that sense, staging is like dressing your house for the price you want, and not the price you have.)
Staging also leads to eye-catching listing photos, which are especially valuable given that most home buyers begin their search by scrolling through listings online.
Before You Stage, budget accordingly. Simple Property, Inc has professional staging services you can utilize.
Staging costs vary depending on where you live and how many rooms you’re staging. On average, home sellers pay between $302 and $1,358 for staging. If your house is empty because you’ve already moved, you might also have additional expenses for renting furniture and other homey decorations to make it look lived-in.
Many stagers offer consultations for as low as $150. Using the advice you learn during the consultation to try DIY staging may be your best option if you’re on a tight budget. Listen for tips on how to use the furniture and decor you already have to show off your home’s best assets.
For the Best Results, Declutter
Spoiler alert: No buyer wants to walk into a messy house.
So, take time to clean and declutter your home. Organize everyday household items into crates and keep them out of sight. Stow away seasonal decorations (that means no Christmas in July). Make time for — or invest in whole-house cleaning, including carpet shampooing. Change lightbulbs, finally make those minor repairs, and add a fresh coat of paint to any room that needs it. Clean out closet spaces — because buyers will want to check out the closets.
Also worth considering? Removing personal items from view, such as copious family photos, artwork, or religious keepsakes. The concern is not that home buyers will be offended by you or your lifestyle. The goal is to neutralize the space and help home buyers imagine themselves living there. (But don’t go overboard. You don’t want rooms to feel sterile, either.)
Yes, we did just tell you to clean out your closets. So where are you supposed to put all this stuff? If you don’t have a discrete place to tuck things away, consider renting a storage unit.
You don’t have to stage your whole house to make buyers swoon. Staging the rooms where people tend to spend the most time usually makes the biggest impression on buyers. Start with the living room, followed by the master bedroom and the kitchen.
Keep in mind that you’re not going for an HGTV-worthy overhaul: Even small touches, like putting fluffy towels in the bathroom or replacing shabby throw pillows in the family room, can make your home that much more attractive.
Oh, and BTW: Stage Your Yard, Too
Your house has to look its best — inside and outside. After all, buyers form their first impression when they pull up in front of your home. It’s no surprise, then, that curb appeal — how your home looks from the exterior — can increase your home’s sales value up to 17%, a Texas Tech University study found.
If you’ve never had your yard professionally landscaped, now may be the time to do it. Landscaped homes have a sales price advantage ranging from 5.5% to 12.7%, according to research by Alex Niemiera, a horticulturist at Virginia Tech. That would mean an extra $16,500 to $38,100 in value on a $300,000 home.
Professional landscaping, however, can cost a lot. You’re aiming for polish, not a new garden of Versailles. If budget is a concern, start with these DIY improvements:
Then move on to these easy upgrades to your home’s exterior:
Even basic upgrades — like laying fresh mulch, changing porch lights, or installing a new mailbox — can help a buyer fall in love at first sight.
This is a significant process and must be done using all forms of media to maximize the exposure your property receives. This creates the most possible buyer's to secure the highest price possible.
Please see Our Process page HERE for details.
An open house is a prospective buyer’s opportunity to give your house a whirl. To wiggle the light switches. To admire the crown molding. To awkwardly ask to use the bathroom. (Which, by the way, savvy buyers will totally do — because they’ll want to test how the water pressure holds up when they give the toilet a flush.)
For you, seller, an open house is a chance to throw open the doors. To dazzle buyers with the big reveal. To make someone fall head over heels for your charming abode. These tricks can help you make your open house a massive hit.
Your Simple Property, Inc agent will typically hold an open house for two to three hours between 11 a.m. and 5 p.m. on Saturdays and Sundays, when buyers have time and flexibility away from their jobs. To maximize your foot traffic, avoid having your open house during holidays, big community events (marathon days, for example), or unofficial “holidays” like Super Bowl Sunday.
In your own personal Open House Show, we have two roles. To you, they are the director, giving you instructions on how to prepare for open house day, and what to do during the event. To buyers, your agent is the host. They will welcome viewers, introduce your home’s impressive features, and take questions from the audience.
Your job is to make your house look like its best.
Our job, an expert on your local real estate market and what makes buyers tick, is to take care of the rest. That will include:
We will also recommend that you should probably leave while we show off your house to strangers, who will look under your sinks and peek into your closets. Why should you heed that advice? Because it makes good business sense for you.
The last things you want buyers to think after the open house is, “This place needs work,” or “This seller is desperate — I have the upper hand.” So, let your agent take the lead. We know the nuanced ways to show your home in its best light so that buyers will oooh and ahhh. We also know how to strategically answer questions from buyers to help set you up for success later, during negotiation.
We can also stage a broker’s open house on your behalf. Unlike standard open houses — where buyers can stop by — at broker’s open houses, only real estate agents and other industry professionals are invited to attend. Generally, a broker’s open is held within the first few days of a house being put on the market. Complimentary lunch is often served as an incentive to get more people to show up.
There are two main benefits of having a broker’s open house:
If your house “shows well,” as they say in the industry, the agents who toured your home may recommend it to one (or more) of their buyer clients. If your home doesn’t get rave reviews, we will relay that feedback to you, and may suggest improvements before the next open house, such as staging certain rooms.
You want your home to look its best while it’s on the market — especially during the open house. Often the best way to primp your home for its big day is to stage it.
Staging may involve renting new furniture or decor for certain rooms in your home. There are also some easy staging tricks you can try on the day of your open house. Consider displaying a bouquet of fresh flowers in the entryway, setting your dining room table to make it look inviting, or turning on your outdoor sprinklers shortly before visitors arrive to make your lawn sparkle.
When your home is on the market, you need to keep it in showing shape — not only for the open house, but also for any scheduled showings with buyers. Even though you’ve already (hopefully) cleaned and organized your home for its listing photos, there’s a good chance you’ve let clutter or dust pile up again, especially if you have children or pets.
Make sure appliances, windows, and mirrors are fingerprint-free. Clean and organize your closets, cabinets, and under the sinks (during the open house, buyers are allowed to be nosy). Clear every bit of clutter and get rid of it or put it in storage.
Don’t have the bandwidth to do a deep clean? Hire a house cleaning service to do the work for you. A professional cleaning service costs around $115 to $230 on average. If you’re not sure about which service to hire, we have recommendations.
If buyers get a whiff of something funky, they’re going to run — not walk — out of your open house. A week prior to the open house, ask us or a neighbor to do an honest, no-holds-barred smell check. Some possible smell solutions:
You want your home to feel cozy and inviting, but not like someone specific (you, for example) is living there. Personal belongings such as family photos, awards, and religious art can distract home buyers and make it harder for them to imagine themselves living in your home. You don’t have to go overboard — the idea isn’t to eliminate every trace of yourself — but consider temporarily hiding some pictures and personal effects out of sight during the open house.
There’s a safety element to stowing your personal belongings, too: Even though one of our agents will be at the open house, you’re inviting strangers into your home.
We’re not suggesting that visitors have any intention other than potentially buying your home. It’s just a good idea, generally speaking, to keep your home secure.
Light doesn’t only (literally) brighten up your space. It also makes rooms look and feel larger. On open house day, open all curtains and blinds to let natural light in. (And in the week before the open house, make sure curtains and blinds are squeaky clean.)
Replace every single burnt-out light bulb in and outside the home — buyers should see a working light every time they flip a switch.
Buyers will judge your house on its outsides. So make last-minute improvements to turn up your home’s curb appeal . Cut the grass, prune the trees, and trim the shrubs. Touch up porch fixtures and furniture with a little paint. Heck, paint the whole porch, if your budget allows. Plant new shrubs or set out potted flowers.
Small, relatively low-budget outdoor enhancements will make your home look more enticing to buyers and can add some last-minute value to its price.
After your agent signs in and welcomes buyers to your home, they typically will have some time to wander around on their own. Even though you won’t be there, you can still draw visitors’ attention to features in your home that you’d like to highlight.
Prior to the open house, post (friendly, aesthetically pleasing) signs around the house with calls to action such as, “look down, new hardwood floors,” or “gas fireplace, push this button.” Buyers will likely appreciate the help, and that they’re working with a conscientious seller.
Serving warm cookies or freshly baked brownies at an open house is one of the oldest tricks in the book. That’s because it works: Buyers love being greeted with a sweet treat and a cold or warm beverage depending on the time of year. Refreshments also give people a reason to stay longer: No one will rush off because they’re hungry or thirsty.
After the open house ends, we will share with you what questions buyers asked and any comments they overheard by visitors. Buyers’ remarks will likely run the gamut, including some that could be negative. (“Why is the closet such a mess,” for example.)
The important thing is to stay open to buyers’ feedback, and to follow your Simple Property Inc agent’s advice about how to respond. Based on buyers’ reactions, we may recommend that you make certain repairs, do some painting, or invest in additional staging before your next open house.
Whatever they advise, it’s not personal — it’s just the business of selling your home.
When you receive an offer, or multiple offers, for your property you’re going to face a question you may not have previously considered: How do you know if an offer is the best one for you?
Your Simple Property agent will be a big help here. We will understand and review the merits and faults of an offer because — believe it or not — it’s not always about price. We will have a sense of what you want financially and personally — and can help you determine whether the offer at hand satisfies those goals.
5 Important Things — Other Than Price — to Consider When Evaluating an Offer
Want to fetch top dollar for your home and walk away with as much money in your pocket as possible?
Of course you do. You’ve gone through the time-consuming process of setting your asking price, staging your home, promoting your listing, and preparing for open houses — and should be rewarded for your efforts.
Your first instinct may be to just pick the highest bid on the table. But the offer price isn’t the only thing worth considering. When vetting offers, evaluate these five areas in addition to price:
One important consideration when weighing an offer is the size of the earnest money deposit. The EMD is the sum of cash the buyer is offering to fork over when the sales agreement is signed to show the person is serious (i.e., “earnest”) about buying your home. This money, which is typically held by a title company, will go toward the buyer’s down payment at closing.
A standard EMD is 1% to 3% of the cost of the home. If a buyer tries to back out of an offer for no good reason, the seller typically keeps the EMD. Therefore, the higher the earnest money, the stronger the offer.
Most offers have contingencies — provisions that must be met for the transaction to go through, or the buyer is entitled to walk away from the deal with their earnest money. Contracts with fewer contingencies are more likely to reach closing, and in a timely fashion.
Here are five of the most common contingencies:
Depending on the type of mortgage, the buyer must make a down payment on the house — and the size of that down payment can affect the strength of the offer. In most cases, a buyer’s down payment amount is related to the home loan they’re taking out. Your chief concern as a seller, of course, is for the transaction to close — and for that to happen, the buyer’s mortgage has be approved.
Generally, a larger down payment signals the buyer’s financial wherewithal to complete the sale. The average down payment, according to the NATIONAL ASSOCIATION OF REALTORS®, is 10%. Some mortgage products, such as FHA and VA loans, allow for even lower down payments.
If, by chance, the appraisal comes in higher than your contract’s sale price, the buyer with a higher down payment would more likely be able to cover the difference with the large amount of cash they have available.
The more cash the buyer plunks down, the more likely the lender is to approve their loan. That’s why an all- cash offer is ideal for both parties. The buyer doesn’t have to fulfill an appraisal contingency — whereby their lender has the home appraised to make sure the property value is large enough to cover the mortgage — or a financing contingency, which requires buyers to obtain mortgage approval within a certain number of days. As always, having a sales contract with fewer contingencies means there are fewer ways for the deal to fall through.
Settlement, or “closing,” is the day when both parties sign the final paperwork and make the sale official. Typically, the whole process — from accepting an offer to closing — takes between 30 and 60 days; however, the average closing time is 42 days, according to a report from mortgage software company Ellie Mae.
Some transactions can take more time, depending on the buyer’s financing. For example, the average closing time for a Federal Housing Administration (FHA) loan is 43 days, according to Ellie Mae.
Whether you want a slow or quick settlement will depend on your circumstances. If you’ve already purchased your next home, for instance, you probably want to close as soon as possible. On the other hand, you may want a longer closing period — say, 60 days — if you need the proceeds from the sale to purchase your new home.
The actual negotiation is the job of your agent, who will be experienced in real estate deal-making. That being said, you should still strategize with your agent before they make that counteroffer for you. Here are five ways you can nab a better deal:
Rather than starting a bidding war, we ask all buyers to come back with their “best and final” offer by a certain deadline (say, within the next 24 hours), and then choose the one that’s right for you.
At the end of the day, receiving an offer is a good thing! It means you’re getting closer to a sale. But remember, you may have to give a little in the negotiations, too. Keep your head on your shoulders — don’t make an emotional decision — and you’ll be all the more likely to get what you want.
In Every Inspection, There Are Stakes for Buyers and Sellers. Once the buyer has made, and you’ve accepted, the offer, your home will get the once-over from the buyer’s home inspector. The inspection is usually a contingency of the offer, meaning the buyer can back out based on serious problems discovered. The lender also expects an inspection to make sure it’s making a good investment. Makes sense, right?
During the home inspection, an inspector will examine the property for flaws. Based on the inspector’s report the buyer will then give you a list of repair requests.
We will work with you to negotiate those requests. Don’t want to be responsible for a repair? (Maybe it’s best if the buyer has the fix made by their own contractor anyway.) We may be able to negotiate a price credit with the buyer instead.
By the way, inspections aren’t necessarily a big, scary deal. We will help advise you about repairs you need to make before the inspection.
In addition, back when you put the home on the market, you were required to disclose to buyers the home’s “material defects” — anything you know about the home that can either have a significant impact on the market value of the property or impair the safety of the house for occupants. Material defects tend to be big underlying problems, like foundation cracks, roof leaks, basement flooding, or termite infestation.
Every home is different, so which items are checked during your property’s inspection may vary. But home inspectors typically look at the following areas during a basic inspection:
Depending on the sales contract, the purchase may also be contingent on a roof inspection, radon inspection, or termite inspection.
What a home inspection won’t cover is the unseen. Your inspector isn’t going to rip open walls or mountaineer on the roof.
A home inspection report is by no means a to-do list of things that you must address. Many home repairs, including cosmetic issues and normal wear and tear, are negotiable.
There are, however, three occasionally overlapping types of repairs that sellers are typically required to deal with after a home inspection:
Again, addressing these might take the form of a credit on the price, which in the case of structural issues could be sizeable.
Assemble your paperwork
Transparency is key. Ideally, you’ll have summaries or invoices of renovations, maintenance, and repairs you’ve done on your home that you can provide to the home buyer. Create a file that collects this documentation and share it with the buyer.
Make sure your home is squeaky clean
Your home should be pristine when the inspector arrives — a good first impression will set a positive tone. Take time to declutter and deep clean the whole house. A deep clean (stuff like cleaning the range hood and upholstery and sanitizing garbage cans), averages between $200 and $400, according to Angie’s List, depending on the size and condition of your home.
Remove any obstacles that may block the inspector's access
Take measures to ensure the inspector has complete access to all facets of the property, including electrical panels, attic space, and fireplaces. This may require temporarily moving clothing and other items that impede access.
Leave the utilities on
For the home inspector to test items such as the stove, dishwasher, furnace, and air conditioning system, the utilities must be connected regardless of whether the house is vacant; otherwise, the inspector may need to reschedule, which can potentially push back closing.
Fix minor problems ahead of time
Many cosmetic issues — say, a broken light fixture or a scratch on the wall — are minor and easy to fix, but they can make buyers more concerned about how well you’ve maintained other areas of the home. It’s best to take care of small problems yourself before the buyer’s inspection.
It can give you time to fix deal breakers.
Granted, a pre-inspection costs money — a basic inspection is about $315, with condos and homes under 1,000 sq ft. costing as little as $200 and homes over 2,000 sq ft. running $400 or more, according to HomeAdvisor.com. That said, it can enable you to address major issues that could cause a buyer to pull out of their offer. Big problems may include mold, water damage, or foundation cracks.
It can mean fewer surprises — and help you market your home.
Knowing what needs to be fixed in your home in advance will enable you to be upfront with buyers about any big pre-existing issues, which can give buyers peace of mind. You can also make it known to prospective buyers that consideration for those items has already been factored into the sales price.
It can speed up the negotiation process.
Having a pre-listing inspection can help reduce, or even eliminate the time-consuming process of having back- and-forth negotiations.
If you discover any material defects to the property in a pre-listing inspection, you are legally required to disclose them to buyers — even if you fix them. Also there’s no guarantee that the buyer’s own inspection won’t reveal things yours didn’t find. The choice to do a pre-listing inspection is yours, but it never hurts to get a head start on repairs.
Be Aware of These Tried-and-True Tactics for Negotiating Repairs
When it comes to repairs, your agent will haggle with the buyer’s agent for you — though it’s ultimately your decision as to how you want to respond to the buyer’s home repair requests.
Here are four time-tested negotiating techniques that your agent may deploy to protect your best interests — without reducing the sales price:
Home inspection may sound like a burdensome process, especially when you’re so close to your goal. But when you cross it off your list, you’re readier than ever to jump to the next level — and into your life’s newest phase.
Final Walk Through
To help ensure that the walk-through goes smoothly, take these six steps ahead of time to prepare:
Step #1 — Clean house
Your home should be spotless for the final walk-through. Assuming the buyer is taking ownership on closing day, you should be fully moved out at this point. But moving can be messy. After purging, packing, and moving, you may want to do one more deep cleaning.
Step #2 — Leave owner’s manuals and warranties.
Make the buyer’s life easier by providing all manuals and warranties you have for home appliances. Print physical copies and put these documents in one place for the new owner. If you have receipts from contractors for repairs, leave them with the manuals.
Step #3 — Provide a vendor list
Give the buyer contact information for home contractors or maintenance companies that you’ve used in the past. These vendors are familiar with your home, and the new owner will appreciate having a list of servicers they can trust will take good care of their new home.
Step #4 — Check for forgotten items
Do one more check throughout the home to make sure you’re not leaving anything behind. One exception: You may want to leave unused or leftover paint cans in the colors currently in use within the home — but confirm with the buyer first.
Step #5 — Turn off water shut-off valves
The last thing you want before closing is a flood. With the buyer’s permission, turn off your house’s main shutoff valve 24 hours before closing.
Step #6 — Lock up
Until settlement is complete, you’re legally responsible for the home — meaning you’d be liable if there’s a break-in before closing. So, the day before settlement make sure to close window coverings and lock the entry doors. If a house looks un-lived in, it’s a welcome sign to burglars. It’s a good idea to leave a porch light on, or to set an interior light to turn on and off with a timer.
If the final walk-through reveals an issue with the house, don’t panic. The standard protocol is for the buyer’s agent to immediately alert the listing agent that there’s a problem. Then, both parties work together to solve it. Typically, either the closing gets delayed or there’s additional negotiation, such as monetary deduction of the sales price. In other words: There are options, and your agent can help you through this.
The last stage of the home-buying process is settlement, or closing. This is when you sign the final ownership and insurance paperwork and make this whole thing official.
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