Ready to Sell? Here’s What You Should Know.

Deciding to sell your home can be tough; it holds memories. Maybe it’s where your child took their first steps or is the home you grew up in. Maybe you’re leaving behind your hometown for bigger and better things. It can be an emotional process, but the right agent can make it as easy as possible. Let’s discuss the steps in selling your home, and some things to do to make your life easier.

To start, shop around for Real Estate Agents. Get to know successful agents in your area, treat this process like an interview. Find out what commission they charge (this is negotiable in many cases. If you like the agent but not their rate, see if they can work with you), how they will market the property, and what they will do to ensure your satisfaction. You want an agent that is a member of the local Multiple Listing Service, is well-connected in the area, and is a member of the National Association of REALTORS (NAR). NAR members adhere to a strict code of ethics and are dedicated to ensuring they offer you the best professional service possible. If you’re looking to purchase a new home in the same area, also find out if they’re a buyer’s agent. Not all agents will work both sides of a transaction, but having a listing agent that will also help you in buying your new home will make the transition smooth.

Once you’ve selected your real estate agent, set up a listing appointment with them. A good agent will have prepared for you a comparative market analysis showing the estimated market value, a seller’s net sheet to show what you will bring home after selling the home, and some sample promotional materials to show you what will be done to market your property. This is the value of hiring a real estate agent. Their resources, connections, and market knowledge are going to be what helps you move your home quickly and for the most money possible. Lastly, you will be asked to sign a listing agreement that will outline how much commission that you’re paying, how much the listing agent will share with the buyer’s agent, how they will market the property, and how they will list the property. The agent may also have you fill out and sign a Seller’s Property Disclosure Statement that will disclose any latent defects of the home and what items will be remaining with the home. This is a legally binding contract when signed by a buyer. Please make sure that you’re being honest and completing it to the best of your knowledge. ALSO please let your agent know at this time any special showing requirements (examples: no showings between 9AM and 3PM). If the property is vacant, this isn’t generally a problem but many sellers are still living in their home when selling.

Now, you may compare agent commission rates and be tempted to list your home as for sale by owner, or “FSBO”. I strongly advise against going this route. Not only will you be responsible for all showings and calls about the property, but you will also have to work with attorneys and lenders before and after the property goes under contract. There are so many chances for a mistake to happen. A real estate agent will reduce this risk.

After the listing appointment, an agent will do several things. The first thing an agent will do, most likely, is list the property in the Multiple Listing Service (MLS). This is how other real estate agents will find the property. The MLS is like Google for real estate agents. It’s how we locate properties that meet our buyer’s needs. Immediately after, they will install a key lockbox on the property (with your consent) that will allow other agents that are members of the MLS to access the property securely. They’ll also install a sign that allows those interested to clearly identify the property and catch the eye of those browsing the neighborhood.

As soon as the property is on the market, it would be wise for you to go to REALTOR.com or Zillow to ensure that the information about the listing is accurate, and that it is listed for the correct amount. Your agent should also be verifying this information and providing you with marketing reports periodically. I present my sellers with small updates weekly, and more comprehensive updates at the end of each month the property is active on the market. This gives my clients an opportunity to not only review my work to see where their money is going, but also to give me ideas on how to improve my business. This is also a great opportunity for me to reevaluate my marketing tactics and remember that I work for the client.

Your agent should coordinate with you with any showing requests to make sure that it fits your schedule. After all, you still own the house. Please do your best to make the home as available as possible. Agents understand that life happens, but our livelihood depends on selling your property. Not only can it be frustrating for your agent if 9 of 10 showing requests are denied, but in some cases it can also constitute breach of contract. You should also do your best to keep your home as clean as possible, and odor free. A dirty or smelly home can be a turn-off for a potential buyer. TIP: some say that the smell of cinnamon during showings helps a home sell faster. It may be a good idea to break out those Christmas candles!

Hopefully, your home has interest quickly and the offers start flowing in. One thing you should know: in Georgia, a real estate agent is legally required to present you with ALL offers in a timely manner. Don’t get offended if an agent brings you an offer for $50,000 below your asking price. It is their legal obligation to do so.

After the home is under contract, there will likely be a few people that are going to need to enter the home. The first of these will be the home inspector. Their job will be the identify any issues with the property and recommend repairs. Next, if the buyer is financing the property, you’ll be paid a visit by an appraiser who will give the lender the market value of the property. An appraiser may also recommend repairs on the property as required by the lender or loan type. Lastly, the day of or day before closing, the buyer and their agent may come do a final walkthrough of the home. This is to ensure the property is in the same shape it was when the offer was signed, all repairs have ben completed, and anything you said was staying on the Seller’s Property Disclosure is still present.

No less than 3 days before closing, the attorney handling the closing will send to both you and your agent a closing disclosure. This will outline all that you’re paying for at the closing. This may include concessions to closing costs, insurance, commission to your agent, taxes, and mortgage payoffs. This should all balance out to equal the number that you will bring home after the closing. It is best practice to sit down with your agent to ensure that this is correct and consistent with the contract and any other variables.

Lastly, it’s time to close! All your things are packed and it’s time to head to the attorney’s office. The seller’s side of the closing is pretty quick. You’ll sign your documents, hand over the keys, and move on to bigger and better things! Selling your home can be a lot. Enlist the help of a REALTOR to make it as easy on you as possible. You won’t regret it.

Austin Wayne Futch (Ga. License #422569)

229-425-7822

afutchc21@gmail.com

https://afutch.sites.c21.homes/

Century 21 Smith Branch & Pope

1814 US HWY 41 N Tifton, GA 31794

229-386-8737

229-386-9981

DISCLAIMER: This post should not serve as legal advice, nor does it establish an agency relationship. Austin Wayne Futch is a Licensed Real Estate Sales Person, license number 422569, with Century 21 Smith Branch & Pope located at 1814 US HWY 41 N Tifton, GA 31794 (office number: 229-386-8737).