Questions to Ask a Real Estate Agent When Selling Your Home

The up and down roller coaster ride of the real estate market and continued fluctations in interest rates can leave sellers scratching their heads, wondering how to price their homes correctly.

To begin with, you should hire afantastic listing real estate agent. These professionals will have the tools and background needed to help you sell your home in today’s market. But there are specific questions to ask so that you can pinpoint the right professional for you.

It’s smart to be picky! A great real estate agent can help find buyers to sell your home fast, and for the most money. Make the wrong choice, and your listing might languish. Then, the lowballing bargain hunters come circling—it’s not pretty.

Not sure where to get started? You can search for real estate agents in your area with online tools that offer you the chance to read real estate agent reviews from previous clients. From there, you’ll want to call or meet with a few you like and probe further.

Questions to ask a real estate agent when selling a home

Here are some important questions to ask your agent when selling your home, from sales plans to listing costs.

1. What are your credentials?

As you start out to sell your home, at the very least hire an agent who has a state license and belongs to the local real estate trade association. This means that they will have access to the multiple listing service, or MLS, and can list your property far and wide to attract buyers.

2. How many sales did you close last year?

A real estate agent’s past performance doesn’t guarantee a quick sale. Their track record of success with buyers and sellers, though, is some assurance that they are professionals who will know what they’re doing in selling your home.

Ask potential agents about how many clients they’ve worked with in the past and about the price range of the homes they have sold. You ideally want someone who knows just which real estate features will be valued by buyers in the appropriate income bracket. You may also want to ask for recommendations from previous clients.

3. Do you specialize in this neighborhood?

Having a local expert can be a huge advantage for sellers. Local agents will be aware of any upcoming developments in the area, plus plans for stores or other amenities that might affect the value of your property, how quickly it will sell, and the price you’re likely to get. They’ll also know what local buyers are looking for in real estate.

“Working with local agents who know the area and the market is essential – but look for agents who’s marketing reach also extends beyond your neighborhood and zipcode” says Steve Silcock, Broker Owner at RE/MAX Heritage

After all, your agent needs to be able to not only sell your home, but your neighborhood.

4. How do you arrive at the listing price?

Few things are as important to a seller as the discussion of how to price your home, and your real estate agent’s ability to land on a listing price that  is pitched at just the right level for the local market.

A property that is priced too high will languish, eventually turning off potential buyers; but a home priced too low might leave money on the table.

Make sure your agent is knowledgeable about the local market and what similar homes have recently sold for. This will help you arrive at the right price. Be sure to get answers to any of your questions about the process of pricing your home.

5. Whom will I be working with?

You want to find out if you will be working with one specific real estate agent or a member of the agent’s team. Each scenario has pros and cons for sellers, so ask lots of questions. Different agents work with clients in different ways.

6. How much will selling my home cost?

Ask several questions about the costs that you, as the seller, will be paying in the real estate transaction, such as broker’s commission, closing fees, and anything else, so you can plan accordingly—and compare from one agent to the next. This should all be covered in the listing agreement with the real estate agent.

7. What is your sales plan?

A good agent should have a written plan for selling your home that identifies the marketing plan for your property to attract buyers, from listing services to open houses to social media. A comprehensive plan helps ensure you’ll capture buyer interest.

“Buyers are searching online” says Silcock. He advises using an agent who has the capability to provide professional photography, a custom website, and even video, if appropriate. This will make the best impression on buyers.

8. What should I do to get my house ready?

See what the agents’ advice is for necessary repairs or upgrades or what hacks they might suggest for budget-friendly but impactful improvements that would attract buyers. Find out if they suggest staging services or just a good cleaning and decluttering.

Also, ask questions about whether the agents are willing to accommodate your schedule and what days and times they prefer to show houses.

9. How will we communicate?

If you’re a texter and your real estate agent prefers lengthy phone calls, that could present a problem. Likewise, you might prefer the personal touch of a call over an email. Knowing the method and frequency of communication can be important in selling your home. Your agent should also be available to answer any questions that you have along the way.

10. How long will the process take?

While no agents can guarantee how fast the sale and full real estate transaction will go, they should be able to give a ballpark range on how long it will take to sell your house. The national average is about a month, but it does depend heavily on your local market.

Source

Experts in Residential Real Estate in Orlando

If you are BUYING or SELLING real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.

How Long Can a House Be Pending?

If you’re in the process of buying a home, there’s no doubt you’ve seen the term “Sale Pending” or “Pending Offer” on more than a few real estate listings—perhaps even on the very home you’re trying to buy! So, how long does it take for a house to go from pending to sold?

We spoke with real estate agents from coast to coast to bring you the answers. But first, a little background on what it means to be pending on Realtor.

What does ‘pending’ mean?

The terms of a pending offer can vary quite a bit. But a pending offer almost always means there’s an “accepted and binding contract” between buyer and seller, according to real estate agent Carrie George of Keller Williams Top of the Rockies. It means that both parties have signed a contract and are ready to move forward.

But there are often boxes that need to be checked (on both sides) in order for the sale to go through.

“An offer is ‘pending’ because there are some items that have not yet been completed in order for the contract to close,” explains real estate agent Chantay Bridges of Los Angeles Real Estate Now. “This can be anything from contingencies of the purchase, repairs, inspections, court approval, or reports.”

“No time limit negates a contact,” says Benjamin Ross, a Realtor® with Mission Real Estate Group. “The contract must be terminated, or adhered to and fulfilled (by both parties). Courts will decide legal disputes if the parties involved can’t come to a cooperative resolution, but until then—the property sits in limbo.”

How long does it take for a house to go from pending to sold?

In other words, how long does this crazy limbo period usually last?

“There’s no hard or fast answer, but typically if a buyer is getting a loan, the total under contract time is about 30 to 60 days,” George explains. “If a buyer is paying cash, the closing can take place in as little as a week.”

The amount of time an offer remains pending will often depend on exactly what terms each party is trying to meet, and how straightforward they are.

“In the event the contract close date is delayed for funding or repair issues, the pending status would continue until there’s a resolution— or the contract is terminated,” Ross says. “This can go on for a long time.”

The bottom line? Pending offers (on average) tend to last anywhere between a week and two months, but delays do happen. Here are a few of the most common reasons why.

Why pending offers can take longer

There are a lot of mundane reasons a pending offer can just sit in limbo for months on end. Those include things like inspections, or a delay with the survey, appraisal, or even the homeowner insurance. Here are a few other issues to be aware of.

1. Repairs

“Repairs can definitely cause the pending status to stretch out for a longer period of time,” Ross says. “Most of the time, both parties are in agreement. However, there are times when hostility arises, and parties seek legal counsel. During this time, the property will remain pending.”

2. Financing issues

“Pending offers can go longer than 30 to 60 days if the buyer and seller agree to a longer term due to financing issues,” says Michelle Sloan, a Realtor with Re/Max Time Cincinnati. “One example is if a seller is building a home and requests a longer period between contract to closing in order for them not to move twice—but the buyer would have to agree to those terms in the offer.”

3. Missing paperwork or special loans

Missing paperwork situations include title issues, “such as a missing deed or a signature on a deed from a long-lost family member,” says Chris McDermott, principal broker of McDermott Realty.

Another thing to consider is the type of financing being used, since the red tape surrounding certain types of loans can also lead to longer close times.

“Areas where FHA, state, and local-led financing, and/or USDA loans are more prominent, are likely to have longer transaction times, resulting in longer pending times,” says McDermott.

What can you do to speed things up?

The answer might sound simple, but being organized and having a great real estate agent helps a lot.

“Having a good and attentive real estate agent can actually make or break a pending status,” says Denise Supplee, a Realtor with Long & Foster. “Throughout the sale process, both sides of the sale have tasks to complete, and often these tasks must be conveyed by the agent.”

So be sure to hire a real estate agent who has the expertise to see the deal through—both by helping you to complete your half of the contractual to-do list, and by keeping on top of the other party if things fall behind.

Source

Experts in Residential Real Estate in Orlando

If you are BUYING or SELLING real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.

Habits of Highly Effective Home Sellers Today

Selling your home isn’t as easy as it used to be. Now that the red-hot market is cooling off, sellers need to reset their expectations—and yes, even adjust their sales tactics.

So we’ve asked real estate experts to share the habits of highly effective home sellers today—the best practices of how they prep their property and negotiate with homebuyers. Listen and learn—and if all goes well, your home is bound to become the next success story on your block.

1. They make sure their house is in good condition

During the COVID-19 pandemic, when many Americans were desperate to move, they might have not cared so much what they were buying, or the shape it was in. But now, buyers have become a lot more leery about homes needing repairs.

According to Datha Santomieri, co-founder and vice president of Steadily, a national insurance agency for landlords, buyers’ hesitancy toward fixer-uppers has a lot to do with rising costs.

Having a turn-key home is “more important than ever before, because we’re in the middle of a housing recession in terms of home sales and homebuilding, in part due to surging mortgage rates,” she says. “Home prices continue to rise, so sellers need to present their homes in the best light possible to attract offers in a slow market.”

Boyd Rudy, an associate broker with Dwellings Michigan in Plymouth, MI, agrees.

Home sellers “should make sure that their home is in tiptop condition, which means taking care of any necessary repairs, touch-ups, or deep cleaning that may be needed,” he says.

2. They’re realistic with their list price

Pricing a home has become tricky. After all, it’s likely your largest asset, and it’s only natural to want to recoup all that it’s worth. But in the strong seller’s market that we have been experiencing over the past two years, many sellers feel entitled to receive an offer for whatever list price they can dream up, and then some.

However, Amanda Zachman, founder and executive director of MV Realty in Delray Beach, FL, cautions against letting emotions guide your pricing strategy, especially in a real estate market that is slowing down.

“Successful home sellers don’t try to outwit the rules of supply and demand by listing their home at a price that’s overly inflated,” she says. “Although today’s market can be challenging, there’s no reason that homes listed at the right price can’t sell quickly.

“I recommend that home sellers list at market value or even below it,” she continues. “This might seem counterintuitive, but a listing below market price could lead to bidding wars and closing prices beyond initial expectations.”

If you’re wondering how to figure out the current market value of your home, ask a qualified real estate agent to perform a comparative market analysis on your home, which looks at recently sold properties in order to give you a better idea of a fair price range for your home.

3. They focus on curb appeal

During the pandemic and even beyond, homebuyers were so desperate to move that a record number weren’t too picky about how a home looked. Many were even buying houses sight unseen!

But today, given higher inventory levels, buyers can afford to be a bit more selective. And the first make-or-break moment is how a home looks from the curb.

“Buyers start evaluating a home from the curb,” says Dustin Fox, owner of Fox Teams in Fairfax, VA. “To impress the buyer, sellers keep their outdoor areas clean, well-maintained, and attractive. They run landscape maintenance regularly and keep the yard clutter-free to improve the overall curb appeal of the home.”

4. They accommodate showings

As the market slows down and you can expect fewer offers, it becomes more important than ever to accommodate showings.

Bill Samuel with Blue Ladder Development in Chicago says the name of the game here is flexibility. Put simply, the more people have a chance to see your home, the better your chances of receiving a strong offer.

“Successful home sellers do a good job of planning ahead for showings,” he says. “They have a plan in place for getting their home ready to be shown and have somewhere to go while prospective buyers visit the property. They’re also willing to accommodate last-minute requests and are generally as flexible as possible.”

5. They’re transparent and honest

Over the past few years, sellers have not had to worry about buyers asking too many questions about the condition of their home, but those days are over. The market has slowed down enough to allow buyers to be more thorough in looking for deficits, leaving sellers the choice of whether or not to be upfront in the transaction.

“Effective home sellers today need to be transparent and honest with potential buyers,” advises Rinal Patel, co-founder of We Buy Philly Home in Philadelphia. “This means disclosing any known problems with the property, being upfront about the asking price, and generally just making sure that all of the information about the sale is out in the open.”

Too often, sellers think that they can score a better deal if they hide their home’s deficits. That’s usually not the case.

In fact, misrepresenting facts about the home can land you in legal trouble or end up completely derailing a deal.

6. They’re willing to compromise

While the market used to be a strong seller’s market—where sellers could get everything they wanted and more from an offer, including no contingencies and offers above the asking price—that’s no longer the case. These days, sellers have to be willing to put some skin in the negotiations.

“Unfortunately, too many sellers sabotage deals by not being willing to compromise,” explains Neil Dempsey, CEO of Four 19 Properties in Granbury, TX. “Effective sellers are willing to negotiate offers and see the situation from the other side once they enter a transaction.”

If you’re having trouble figuring out where you can negotiate, ask your real estate agent to go over common negotiation points with you. Then, decide where you’d be willing to bend and where you should stand firm. Be sure to look at any offers with those details in mind.

7. They choose their real estate agent with care

During the red-hot market of the past two years, homes were selling so fast and furious that just about any real estate agent was guaranteed a sale. But as the market cools off, selling might become a harder road—and that’s why you should make more of an effort to find the very best real estate for your circumstances to help stack the odds in your favor.

“Successful sellers hire a great real estate agent and follow their advice,” says Al Cannistra, a broker with Texas Today Realty in Lubbock.

“That advice could cover a myriad of things such as how to best prep the home for sale, how to properly price for the current market, or when to make price changes needed to keep the listing from becoming stale,” says Cannistra. “Sellers should recognize that their agent is sharing their experience with the goal of bringing the best possible return.”

Experts in Residential Real Estate in Orlando

If you are BUYING or SELLING real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.

What Is a Quitclaim Deed

Quitclaim deeds and specific terms may come up if you’re transferring property between family members or spouses.

If you are selling your home now, you may not remember that you signed and received a deed when you purchased your property, such as a warranty deed or quitclaim deed (sometimes called a quick claim deed).

The particular real estate deed provides proof of ownership for the buyer and transfers the title or deed to you, regardless of who the property owner (or co-owner) was before you.

Two types of deeds to transfer ownership of real property

The legal document that transfers ownership of the property can be a warranty deed or a quitclaim deed.

Warranty deed: Used in most real estate sales transactions, this deed says that the grantor (previous owner) is the owner of the property and has the right to transfer the property to you (the grantee). In addition, the deed serves as a statement that there are no liens against the property from a mortgage lender, the Internal Revenue Service, or any creditor, and that the property can’t be claimed by anyone else. Title insurance provides the financial backup to the warranty deed, and requires a title search to verify that no other claims, encumbrances, easements, or liens on the property are outstanding.

Quitclaim deed: Used when a real estate property transfers ownership without being sold. No money is involved in the transaction, no title search is done to verify ownership, and no title insurance is issued. A quitclaim deed real estate transaction sometimes occurs between family members.

Why use a quitclaim deed

Quitclaim deeds are a quick way to transfer property, most often between family members. Examples include when an owner gets married and wants to add a spouse’s name to the title or deed, or when the owners divorce and one spouse’s name is removed from the title or deed. In other cases, a quitclaim deed can be used when parents transfer property to their children or when siblings transfer property to each other.

Some families or parties opt to put their real property into a family trust, and a quitclaim deed can be used then as well.

Another time that a quitclaim deed might be used is when a title insurance company. finds a potential additional owner of a real property and wants to make certain that this person doesn’t make a future claim of ownership.

In that case, the insurance company would ask that person to sign a quitclaim deed.

It is important to recognize that a quitclaim deed impacts only the ownership of the house and the name on the property deed or title, not the mortgage. For instance, in the case of a divorce, if both ex-spouses’ names are on the home mortgage loan, they are both still responsible for the mortgage payments, even if a quitclaim deed has been filed.

Quitclaim deed basics regarding grantors and grantees

The rules about how a quitclaim deed is handled vary by jurisdiction, but generally you need to include the legal description of the property being transferred, the date of the transfer, and the names of the “grantor” and “grantee.”

Not all states require you to record a quitclaim deed, but it’s wise to have the deed signed by the grantor and grantee and notarized in front of a notary public, then copied and recorded at the county recorder or county clerk’s office.

Other elements of a quitclaim deed

While quitclaim deeds can differ by locale, there are common elements to this type of deed. The elements below are what you’ll normally see:

• The title
• The date of execution
• Who the grantor and grantee are
• The habendum, which describes the transfer of ownership rights
• The consideration, which describes what the grantee gives to the grantor in return for the rights
• A legal description of the property
• Notarized signatures

Do you need a quitclaim deed?

It might make sense to use a quitclaim deed if you’re a parent who wants to transfer a home to your children, or if you recently got married, when a spouse wants to add the other to the title of their property.

One of the biggest benefits to using a quitclaim deed is the fact that it avoids title search or title insurance. However, you should note that quitclaim deeds are not used for real estate sales, considering the new owner will not receive any guarantee related to the validity of the title.

How to create a quitclaim deed

First, read up on your county’s requirements. The information is often available online. If possible, get a sample deed form.

Quitclaim deeds must be in writing to be valid, with information including the property, date of transfer, location, and the names of those involved (grantor and grantee). This type of document is typically notarized to be valid.

After the deed has been notarized, copy it and record it at the county’s clerk and recorder’s office. While recording the deed isn’t required by law in all states, it’s advisable in order to protect you from future claims on the property’s title.

Experts in Residential Real Estate in Orlando

If you are BUYING or SELLING real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.