Complete your own market research which can be done on our platform or multiple other platforms. Very few homes are identical and “market comps” can be misleading. What you value a property at can be significantly different than someone else’s valuation. Research existing listings and homes sold in past 6 months. Tour similar properties to yours and attempt to objectively compare the list price.
Interview multiple brokers. Have the broker outline in writing the services they will provide for the asking fee. Compare each brokers scope of services. In the listing agreement commit to only pay your broker with the cooperating fee “Negotiable”. Note if the broker tells you buyer brokers will not show your house without a cooperating fee listed this statement is borderline illegal with the act of not showing your house being illegal. Make the term of any listing agreement as short as possible. Consider listing without a price to avoid a price ceiling or mispricing. Note when a market is in equilibrium or strong sell market like today you should have real market offers in 1-30 days. If you do not the house has been mispriced (high) or in the multiple millions where the candidate pool of buyers is very small.
Aesthetic improvements, paint, carpet maintenance etc. should always be considered. Physical improvements can be very risky and not provide a return on investment.
Should be considered if necessary and find staging companies on Unpriced.
Consider listing without a price or making it known that the list price is not an asking price but a requirement of the MLS and provides general guidance. No homes are exactly alike and no buyers are alike with same motivations. Market price is what someone is willing to pay and what someone is willing to accept. List prices can be irrelevant as shown over the past couple of years.
Be very careful rejecting a good offer simply because it was made quickly. Always counter to maintain engagement, even if you counter a low ball offer at the ask. Thoroughly understand contingencies and avoid all if possible. Know inherent contingencies due to state law. i.e. Attorney review period. On cash offers ask for “proof of funds”.
As a Seller you want limited to no contingencies. Most common include:
- Financing: Very Common. Get a pre-Approval Letter from bank, and proof of equity funds. Note this is not a binding commitment letter and financing may not be ultimately approved.
- Home Sale: Less common. Not advised and if agreed to, do not take your house off market.
- Inspection: Very Common. You should always write your contract AS-Is even if you agree to an inspection.
- Repair/Maintenance Contingency: Less common. Agreeing to a credit at closing is less risky than having to perform the repair or maintenance
It is very simple to google Buyer names and make some basic assumptions on the quality of the Buyer. Do not hesitate to ask questions.
Do not get caught in Buy Sell trap. Can you close on your buy without closing on your sell?
Hire an attorney to protect your interest. Not all states require an attorney review period or that an attorney needs to be involved. Ask the attorney to submit a proposal with a summary of services and the cost for those services. Understand your risk of non performance.