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Thought about selling your home? Or just curious about how much your house is worth? Get started now by contacting a CENTURY 21® King agent.
Only a professional can help you build a comprehensive analysis of your individual circumstances. Let a CENTURY 21 King agent show you the way.
CONTACT US TODAY! 909-980-8000
ABOUT LISTING AGREEMENTS
The common top three listing agreement choices are:
1) Open Listing
2) Exclusive Agency Listing
3) Exclusive Right-to-Sell Listing
The best choice for you will depend on your willingness and ability to tackle some of the home selling duties and the local real estate market climate.
An open listing lets an owner sell her home by herself. It is a non-exclusive agreement, meaning the owner may execute open listings with more than one real estate broker and pay only the broker who brings an able buyer whose offer the owner accepts.
Exclusive Agency Listing
An exclusive agency listing is similar to an open listing except the major difference is the agent will represent the owner. The owner still reserves the right to sell the property herself and not pay a commission. The broker is free to cooperate with another brokerage, meaning the second brokerage could bring an able buyer whose offer the owner accepts. Typically, the broker is paid a listing commission that is shared with the selling broker, so the owner pays both fees.
Exclusive Right-to-Sell Listing
An exclusive right-to-sell listing is the most commonly utilized instrument. It gives the broker the exclusive right to earn a commission by representing the owner and bringing a buyer, either through another brokerage or directly. The owner pays both the listing and selling broker fees. The owner cannot sell the property herself without paying a commission, unless an exception is noted in the contract.
SETTING THE PRICE
A key part of selling a home is setting the list price. If a home is priced too low, you won’t benefit from the optimal profit. If a home is priced too high, potential buyers may be scared away. To determine the best asking price review the cost of recently sold homes, evaluate the competition and study marketplace trends. CENTURY 21® King Sales Associates are trained to use this information to help you reach the right asking price. It is also helpful to discuss other terms and conditions, such as timing and items that can be included with the sale of the home. Both of these can make your home more attractive to potential buyers.
1) Location: You can't get away from this one. If your house is located in a desirable area that is in demand, you will be able to get a higher price than you can for the same house in a less desirable area.
2) Condition: A house that has been better maintained and shows better will always sell for more than one that has had deferred (neglected) maintenance and needs work.
3) Desirable amenities: If a house has amenities that are currently popular in the marketplace, it will bring a higher price.
4) Calculate the price per square foot: The average price per square foot for homes in your neighborhood shouldn't be the sole determinant of the asking price for your home, but it can be a useful starting point. Keep in mind that various methodologies can be used to calculate square footage.
A formal written appraisal can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, or if there is any other circumstance that makes it difficult to put a value on your home. Appraisers consider the location of the home, its proximity to desirable schools and other public facilities, the size of the lot, the size and condition of the home itself and recent sales prices of comparable properties, among other factors.
SHOWING YOUR HOME
Although the buyer is a guest in your home, you want the buyer to imagine owning the home. You don't want to make the buyer feel like an intruder.
Now it's time to get your home ready for the spotlight. Start with a good cleaning, then eliminate any clutter, add a fresh coat of paint and tidy up the yard. Talk to your real estate professional about other tips that can help boost a home's curb appeal and impress potential buyers once they're in the door. One way to make a home more attractive is to purchase a Home Protection Plan. This insurance protects you, the seller, from paying repair or replacement costs of major items during the listing period. It also protects the buyer during their first year of homeownership.
Check the Temperature
If weather permits, open the windows -- if there is too much noise outside, close them. And if it's cold enough to wear a sweater to stay warm, turn on the heat. You want the temperature inside to be comfortable and to give the buyer more of a reason to linger, especially on hot or cold days!
Create a Mood Light
A fire in the fireplace, and if you have water fountains, turn them on. They are especially useful for drowning out traffic noise.
Play Up the Visual
Open all the window coverings to let in light. Keep blinds partially closed that otherwise show undesirable outdoor scenery such as a dilapidated fence or a nearby structure that obstructs views. If you have seasonal photographs showcasing flower gardens, leaves bursting in color or a snow-covered lawn twinkling from street lights, then display them in a prominent position. Turn on every light in the house, including appliance lights and closet lights. Brighten dark rooms with few windows by placing spot lights on the floor behind furniture.
FIRST TIME SELLERS ADVICE
At first, selling your home seems daunting: You haven't sold a home before, the market looks complex, and what worked for owners 10 or 20 years ago seems inappropriate today.
What steps should you take? Here's a simple list to get you started.
1. You Can Do It. Some 5.65 million existing homes were sold in 2007* , more than 15,000 a day. Other owners have done it and so can you.
2. Define Your Goal. Do you want the highest sales price -- or the biggest check at closing? They're not necessarily the same. Imagine that two homes sell for $300,000, but one owner pays 2 points and agrees to replace the roof. The owner who sold without such costs got a bigger check at settlement. The bottom line: To have a successful sale you need to look at both price and terms -- you must have a strong negotiator in your corner.
3. Times Have Changed. Today's real estate marketplace is radically different when compared with 10 years ago. Purchasers now use the Internet, receive seller disclosure forms, get home inspections, and are routinely represented by buyer brokers. The result is that buyers can be better prepared than in the past.
4. Sparkle And Shine. Imagine going to a supermarket and seeing dusty fruit or aisles filled with old shelving and cans. It doesn't happen because the grocery store knows how to present its goods. Sellers must do the same. Get rid of things you don't want to move, organize closets and storage areas, and clean everywhere.
5. Mechanics Count. Buyers expect everything to work. Home inspections are now entirely common and what buyers miss home inspectors will catch. Fix and paint things now and they won't be an issue in the future.
6. Set the stage. When buyers see your home, it's showtime. They want an environment where they can see themselves. De-clutter and hide knick knacks that will distract them from their dreams. Given them a show where everything is painted, arranged, and attractive, a home where the only issue is when to move in.
7. Know the market. Real estate is local. Your broker can explain current market trends in your community, including what's selling, what isn't selling, and why. This information is central to getting the optimal price and terms.
8. Know the competition. Your property will be competing with other homes for buyer attention. Ask your broker how to be competitive -- and how to have an edge.
9. Be realistic. Markets differ by location and time. When interest rates are low and the local job base is growing, it's great to be a seller. But when times are slack and mortgage rates are rising, homes also sell. The trick is to be realistic, to get as much as market conditions will allow.
10. Have a plan. Real estate marketing involves far more than a sign in the yard and an ad in the paper. Successful brokers use a variety of methods to attract and qualify prospects, including the latest Internet and communication advances.