8 Easy Steps to Selling a House in Greensboro

Sold HomeIt’s easy to feel overwhelmed when you’re selling a house.

Between pricing your home, performing housing inspections, and preparing the house for showings, there’s a lot to do!

Whether this is the first time you’ve sold a home, or the 10th, here are eight easy steps that will save you time, worry, and energy while you prepare your house for the market.

Step 1: Find a Great Seller’s Agent

One of the most important steps to selling a house is finding a great realtor near you. Speak to a variety of different realtors in your area, and treat each conversation as if it were an interview. A realtor with experience in your specific housing market will be highly preferable to one who only sells, say, lakefront property.

Ask all the realtors you interview how many homes they have sold in your area, how recently they have sold them, and how often they have had to lower an asking price. Look for a realtor who is experienced, knowledgeable, and up-to-date on current market trends.

Step 2: Settle on the Right Asking Price

Once you have started working with your real estate agent, it will be time to discuss your home’s asking price. In order to settle on a reasonable figure, your realtor will be able to give you a professional comparison between your home and other homes nearby. If your home has more to offer than other local homes do, you may be able to price it higher. On the other hand, it may also be necessary for you to perform certain repairs and additions to ensure a higher asking price.

Even though you would like to price your home as highly as possible, listen closely to the opinion of your realtor. An overpriced house rarely sells, and your realtor will be able to provide you with realistic expectations.

Step 3: Make Your Home Look Its Best

Once you have settled on an asking price, it will be time to prepare the house for the market. The first step is to give your entire home a thorough cleaning, both inside and out. Then, perform a detailed housing inspection to evaluate which repairs, if any, are necessary.  Be prepared to invest whatever is needed to encourage buyers to make an offer. You may want to add small upgrades around the house, such as new granite countertops, updated appliances, or hardwood floors.

Don’t forget to spend some time scrubbing or pressure washing the outside of the house. A good first impression is key!

Step 4: Have Professional Photos Taken

Studies consistently show that homes with professional listing photos sell more quickly than homes without them. The average home buyer spends just 20 seconds looking at the first listing photo, at which point s/he either moves on, or decides to learn more. Since those first few seconds are so crucial, it’s important to invest in professional photographs that will showcase your home at its best. Though professional photos can be costly, they are not something to skip out on, as well-taken photos can make a huge difference in how quickly your home sells.

Step 5: Market Your Home

Once the house is on the market, your realtor’s goal will be to get your home’s listing in front of many potential buyers as possible. This means exploring all avenues, from social media outlets to professional real estate listings. Your real estate agent will be able to handle most of this for you, and will also be able to use agent-to-agent referrals, open houses, and For Sale signs to spread the word. In some cases, direct mail advertising, media advertising, and brochures may also be appropriate to help the house sell.

Step 6: Receive and Negotiate Offers

Sometimes, the first offer a seller receives will be at or above the asking price, and all there will be left to do is accept it. Most of the time, however, the offer you receive will be either below the asking price, or involve additional requests for items you haven’t considered. For example, the potential buyers may want you to throw in the hot tub or shed that you had planned to take with you, or they may stipulate that you need to make additional repairs or renovations before they can finalize the deal.

This sort of give-and-take is a perfectly normal reality of selling a house, and your realtor will be well-prepared for it. You may either decide to make a counter-offer, or wait for a better one to come along. You may even be lucky enough to have two or more buyers bidding for your house at the same time. This is where having an experienced seller’s agent really comes in handy, because he or she can assist you in choosing the best offer, or even encourage a bidding war between the two buyers.

Step 7: Prepare for Closing

Once you decide to accept an offer, both you and the buyer will have obligations to fulfill before the sale can be finalized. Your agent should be in close contact with the seller and/or his agent during this time to make sure that everything is on track for the chosen closing date. Scheduling home inspections, radon testing, wood-destroying insect inspections, and other finalizing details may all be necessary before the house can officially be sold. Of course, you will also need to remove any remaining items from your home, garage, and property. Your realtor will be able to walk you through all of the necessary steps and ensure that no detail is forgotten.

Step 8: Close on the Sale

The final step in selling a house is “closing” the sale. This is an official meeting wherein the ownership of your home is transferred from you to the new owner. Usually, both the seller’s and buyer’s agents are present along with the buyer and seller, in addition to a loan officer and a closing agent who has prepared all the necessary legal documents. All parts of the sale will be reviewed and verified, and the final documents will be signed and distributed to both parties. Lastly, you will hand over your keys, and voila–the sale will officially be complete!

Selling a House? Find a Greensboro Realtor Near You

Voted the Triad’s Top Realtor for the last 10 years, Ed Price Realtors is ready to help make selling your home as seamless and efficient as possible. If you’re ready to sell your house in Greensboro or High Point, contact us today to for professional, experienced real estate guidance.

Would You Make a Good Real Estate Agent?

Realtor Handing Over KeysMost metropolitan areas have hundreds of realtors available. If you’re a Greensboro, High Point or Triad homeowner planning to sell your house, how do you choose the right one? Here are five qualities that make a great real estate agent.

1.   Communicative

Your realtor should be a good listener, so that your wants, needs, and requests are heard and understood. Your realtor should be able to clearly explain options and potential costs, and answer your questions in clear and simple terms. Your real estate agent should also be able and willing to update you on any positive events or challenges that will affect your goal to buy or sell a home.

2.   Adaptable

During the process of buying or selling property, your circumstances may change. An adaptable real estate agent will be able to adjust to those changes and let you know how they will affect your goals.

3.  Knowledgeable

A good realtor is knowledgeable about:

  • The neighborhood or area in which you want to buy or sell a home.
  • Comparable properties in the area that have been recently bought or sold.
  • How to help you get the best property available for your budget.

4.  Motivated

Look for a real estate broker that is truly motivated to help you buy or sell a home. After understanding all your requirements, it should be evident that your agent is proactive and committed to helping you achieve your goals.

5.   Organized

Your realtor should be a good project manager. He or she likely has multiple clients, so the ability to keep good track of meetings, showings, and paperwork will help him or her to stay organized and sell your home efficiently.

Looking for a Qualified Real Estate Agent?

If you’re looking for a highly qualified real estate agent in the Greensboro or Triad area, contact Ed Price & Associates today.

Buyer’s Agents and Listing Agents: Understanding the Difference

Realtor house for sale

 

 

 

 

 

 

When you’re cruising through your ideal neighborhood and spot your dream house for sale, it probably seems like common sense to dial the number listed on the sign in the yard. But before you grab your phone, remember: that agent represents the seller, not you. As a buyer, it may be wiser for you to invest in a buyer’s agent: someone who works for your best interests, to ensure that you get the best possible home for the lowest possible price.

Here, we’ve outlined some differences between buyer’s agents and their counterparts, listing agents, to help you determine which type of realtor is right for you.

What is a Buyer’s Agent?

Buyer’s agents haven’t been around forever. They’re something relatively recent to the real estate industry; a new breed of agent that appeared partly as a result of the mid-2000s housing crisis. Unlike a listing agent, a buyer’s agent is exclusively invested in the best interests of the buyer. Although both buyer’s agents and listing agents are responsible for viewing properties, evaluating neighborhoods, and offering educated advice on property inspection and mortgage leasing, only a buyer’s agent can legally work to bring you the lowest sale price on a home.

Another advantage of a buyer’s agent is that they are able to legally share information about a seller’s position. This means that they can disclose information that may benefit you as a buyer, such as the reason the owner is selling, whether or not they have already located a new house, and how long they have lived in the neighborhood. Listing agents, on the other hand, are forbidden from sharing information that could compromise your final sale price.

So, what is a Listing Agent?

A listing agent, also called a seller’s agent, is a homeowner’s biggest advocate. When a listing agent starts working with a seller, he or she signs a written contractual agreement called an Exclusive Listing Agreement. Essentially, it states that the agent has a legal obligation to work on the seller’s behalf to get the best available terms for him or her. Some duties of a listing agent include:

  • Creating a marketing plan for the home
  • Commissioning professional photos of the home
  • Assisting in staging the house
  • Performing a comparative market analysis to find the fairest selling price
  • Recommending contractors to prepare the house for market
  • Coordinating and hosting showings

In general, a listing agent’s job is to make the home-selling process as easy for the seller as possible.

Listing agents are also legally obligated to share any information they learn about a buyer with the seller. If you strike up a conversation with a listing agent during a showing, any information you disclose could be used against your favor during negotiations. Are you relocating to the area because of the big salary increase you’ve received at your great new job? That’s valuable information to a listing agent; information they’re required to share.

Which should I choose?

Obviously, neither buyer’s agents nor listing agents are evil. Both are determined to help make the home buying experience as simple and rewarding as possible. Both have a passion for the real estate business; and both are very knowledgeable in the complex area of home buying. It’s just a matter of determining whose interests they are legally bound to prioritize. If you’re selling your home, a listing agent will help make your home as appealing to potential buyers as possible. And if you’re buying, resist the impulse to simply call whoever’s name appears on the For Sale sign, and invest in someone who will be primarily in your corner.

Here at Ed Price Realtors, we represent both buyers and sellers. Whether you’re interested in placing your house on the market, or finding the perfect home, Ed Price’s professional representatives are here to guide you every step of the way. If you’re considering buying or selling a home in the Triad area, give us a call today to get started.