Selling Simply with The Millslagle Group loading...
simply
SELLING
HOME SELLER FREQUENTLY ASKED QUESTIONS
simply
SELLING
HOME SELLER FREQUENTLY ASKED QUESTIONS
simply
SELLING
HOME SELLER FREQUENTLY ASKED QUESTIONS
Joe & Laura Millslagle
Broker Associate | Realtor®
941.815.3461
JoeAndLaura@TheMillslagleGroup.com
TheMillslagleGroup.com
let's get social
@the.millslagle.group The Millslagle Group
PREPARE IT
ADVERTISE IT
SHOW IT SELL IT
Meet with me
Clean, declutter, paint
Negotiate offers
Get under contract
Determine price
Strategic marketing
Inspections + appraisals
Closing day!
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03
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Whether you are not sure if you're ready to say goodbye to your home, or you're ready to pass off
those keys to someone else ASAP – this guide is for you! I've compiled all of the answers to my most
frequently asked questions about selling a home into this guide. Use this to refer back to throughout
the process, or whenever you decide it's time to list.
This is my most frequently asked question, so it's the perfect one to kick this off with. Here is a the
home selling process in a simple 4 step process:
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What does the home selling process look like?
simply
THE SELLING PROCESS
PROS AND CONS OF PRICING IT...
Determining your home’s market value is one very important reason to use a real estate agent. I will
do a comparative market analysis (CMA) to help you set the correct listing price. I look at recent
sales of comparable homes, similar homes that are under contract, and homes that are listed in the
same price range of your home. Then I compare features of the homes including the size, style,
number of rooms, age of the home, amenities, condition, lot size and placement, and the location or
neighborhood. (Note: the tax appraiser’s assessed value of your home has nothing to do with the
market price.)
Setting a very high price just to “see what we get” is never a good idea. Setting an unreasonably
high price usually results in longer time on the market, which does not look good to buyers and will
frustrate you. Many sellers ask about the price that Zillow or other real estate websites give for their
home. These are not reliable because these sites are only taking into consideration very general
demographics. My job is to determine the perfect listing price to get your home sold for the most
amount of money, in the shortest amount of time.
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What is my home worth?
Should we price it higher just to see what happens?
HOME SELLER FAQ
below market value
+ The home will receive high interest and a quick sale
+You may get a multiple offer scenario, which may include offers higher than asking price
- Risk of having to seller at a lower price
at market value
+ No appraisal issues
+ Buyers and agents will recognize a fair price
+ Will appear on more relevant buyer searches
over market value
+ If you have to receive a certain amount for the home
- It will take much longer to sell
- The more days it's on the market, the worse it looks to prospects
- The home may not appraise by the buyer's lender, back to negotiations
=
An easy answer is when it’s best for you! Obviously, if you are closing on a home purchase, moving
for work, or want to get settled before the new school year, you have a timeline you need to work
with. But, if you have the luxury of choosing when to sell, there are a few considerations. Spring is
traditionally a time when there are more buyers looking, but you may also have more competition.
Fall, and closer to the holidays, is a good time to get a higher price from buyers that need to move
before the new year. Watching the market is always smart. A seller’s market, meaning there are
more buyers than sellers, is always a good time to list.
When should I sell my home?
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How long will it take to sell my home?
The length of time on market will depend upon the market in your area at the time of listing and
whether the home is priced realistically. I am always working to get you the highest price in the
shortest time possible. On average, a home that is priced right goes under contract in two to three
months. If you need to sell fast, that should be reflected in the list price.
How much will I pay in commissions?
Real estate commission is typically 6%-7% of the sales price, (although it varies) split between the
listing and selling sides. Commissions are not paid directly to the agents, but to our brokers. They
collect fees for marketing your home on MLS and other websites, administrative costs, insurance
fees, and required fees for storing your transaction records as required by law. My broker then pays
me for representing you in the transaction. As your agent, I will work very hard to represent you
ethically and with your best interest always the priority. If you have any questions about the
commissions, I’d be happy to talk with you further.
What do I need to do to get my home ready to sell?
We will decide together on how to handle showings. We can set parameters as to the hours and
days that showings are allowed, and how to notify you in advance. Homes show best when the
homeowner is not present, but if this is not possible, we will work together to create the best
experience for the buyer that also fits your lifestyle. Usually we use an electronic lockbox that allows
buyers’ agents to access your house key. These boxes also notify me any time they are opened, so
no one is accessing your home without my knowledge. If you have pets in the home that need to be
tended to during showings, we will work out the best way to handle them. Furthermore, I will try to
get feedback from each showing and pass that information back to you.
How will the showing process work?
I recommend that you give the home a thorough cleaning– get rid of anything you aren’t taking with
you, declutter surfaces, take care of repairs, make sure the major mechanical systems are in good
operation, have the exterior pressure cleaned and the landscaping spruced up. You may also
consider repainting if it is overdue or if the home is painted in dark or bold colors.
I strongly discourage those routes, not only because I want to help you sell your home, but also
because they can be a huge burden and don’t get you the best price. Buyers know that when a
home is sold FSBO or on a flat fee service, that the seller is paying little or no commissions, so they
will offer less. Consider that when you sell your home by yourself, you will have to be present for all
showings, and you won’t have someone to advocate for you through all the steps of the contract
and closing process. If something goes wrong, you’ll want me in your corner to prevent problems or
save the deal, so you don’t have to start over.
Should I consider FSBO or a flat fee listing service?
What marketing will you do to help sell my home?
Hands down, our best marketing tool is the Multiple Listing Service (MLS.) This is the database all
real estate agents use when searching for properties for buyers. And buyers are using websites like
Realtor.com, which is why all my listings automatically show up on these websites. My broker will list
your home on our company website, and I may also use additional avenues such as open houses,
socail media ads, and direct mailing, depending on your home and market.
HOME SELLER FAQ
It sometimes happens that a home does not appraise at or above the contract price. When this
happens, we go back to negotiations to determine if we can save the deal by adjusting both the
sales price and the terms of the contract to the satisfaction of both buyer and seller. Usually we are
able to work it out and save the deal. You always have the right to refuse to lower the price to meet
the appraisal, but it’s usually in your best interest to try to work with the buyer to resolve the issue as
the next appraisal could result in the same valuation. If you are concerned about the appraisal
value, go ahead and have your home appraised before setting the listing price.
Incentives are something I like to consider on a case-by-case basis. There are certain circumstances
where it may be smart to offer an incentive. Some incentives can be offered from the start. For
example, if your home is in an area that doesn’t get a lot of traffic, we may offer an incentive to
agents to bring us a buyer. Or if you know the appliances are at the end of their lifetime, you may
offer a home warranty to help the buyers replace them. Other incentives, like helping with closing
costs, are better used during the negotiation process.
It’s smart to disclose any issues right up front. Your buyers will have the right to inspect the home, so
it’s best they not be hit with bad news after going under contract. If you know of problems with the
appliances, plumbing, electric, HVAC, roof, foundation, property lines, or deed, these need to be
listed on the Seller’s Disclosure. If there are repairs that you can have done before listing, go ahead
and take care of those. Anything that cannot be remedied before listing should be considered when
setting your list price.
A multiple-offer scenario is a fun position to be in as a seller. I will help you through the negotiation
process to select the right buyer– and that is not always the one with the highest offer. We need to
consider how strong the offer is, whether they are offering cash or financing, how much they are
financing and what type of loan they are using. How much they are offering to put in escrow and
the terms of the inspection process are indications of their commitment to the deal. You may also
draw on sentiment: are they buying your home as an investment or a place to raise their family?
Should I offer incentives like a home warranty, closing costs, or selling agent bonus?
What do I need to disclose?
What happens if my home doesn’t appraise above the contract price?
How do you negotiate multiple offers?
HOME SELLER FAQ
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more questions?
We are always available to help! Shoot us a text or give us a call for the quickest response. Helping our
clients sell their home for top dollar and with the most ease is what we are passionate about – We’re
always here to answer your questions.
Joe & Laura Millslagle
Broker Associate | Realtor®
941.815.3461
JoeAndLaura@theMillslagleGroup.com
TheMillslagleGroup.com