Selling Your Home Archives - Preferred Properties of Texas Home & Ranch Properties Stephenville

What to Look For on Your Final Walk-Through

May 25, 2023 by chorton Leave a Comment

The final walkthrough of your new home can be a very exciting experience. You have completed all the necessary steps, including negotiations, inspections and financing approval. Now you are ready to sign your closing papers. Most buyers have already thought about paint colors and furniture placement before the final walk-through. The walk-through is more than just ensuring that your favorite chair fits by the fireplace. Do your due diligence and make sure that there are no issues you need to resolve before the closing table. The final walk-through will ensure that the home is in the same condition as when you purchased it.

Check for the following:

1) Check that there is no damage to the house that the sellers should be responsible for. The weather or careless movers may cause damage. Old and forgotten damage can be discovered when the sellers’ possessions are removed.

2) Make sure that all appliances are in good working order and that no new electrical or plumbing issues have appeared. You don’t need to do a full home inspection but you can check visually for obvious issues that should be fixed before you move in.

3) Verify that all items conveyed by contract are present. If the sellers agreed that certain furniture, decor or equipment would be left, make sure it hasn’t been removed.

4) Verify that the sellers have removed their belongings. You don’t need to arrive at the property with your moving truck to discover that the sellers have left behind a variety of unwanted furniture and trash. The sellers are responsible for clearing out anything that does not go with the sale.

What is a Real Estate Agent’s Role in Helping Sellers?

May 19, 2023 by chorton Leave a Comment

You want to find a realtor that will make the process as easy as possible for you while maximizing your profit when trying to sell your home.

You may be a new agent, and wonder what sellers expect from you. They want you to represent them above all else. They want you to be transparent, to trust you and to minimize any headaches that they may experience.

The following are some of the skills that a great agent for sellers should possess.

Pricing

One of the best things a seller’s agent can do for you is to price your home properly. Many people describe pricing a home as both an art and science.

Agents use recent comparable sales to make their decisions. Knowing the local market and having experience are key to being able to use intuition.

A good agent will find the right price balance to keep sellers competitive while ensuring they get what their house is worth.

A real estate agent will conduct a comparative analysis of nearby homes that are currently on the market, have pending sales, or may have just sold. Your agent may have sold these comps, or at least seen them personally.

You might also wonder how an agent can be better than an online model of valuation. These tools have a high error rate. Zillow’s online calculator, for example, estimates the value of a home at around 20% of its actual value in 87.6% cases. This leaves a large margin of error. These tools cannot account for the nuances or variables that an agent experienced in pricing homes can.

Sellers’ agents should be present at inspections and appraisals in order to prevent any spin from the buyer agent. If an inspector states that a home will require a new air conditioner in five years, then the agent representing the buyer may spin the information by saying that the unit is defective. This can be prevented by a seller’s representative.

Get Your Home Ready

Cleaning a house is not enough to get it ready for the market. Listing agents are experts at maximizing the value of your home.

Listing agents can find out what improvements you should make and recommend who to contact to help.

Your agent will discuss the potential return on investment before you decide to make any improvements.

The agent will also stage the property if necessary. The agent can stage the property by removing clutter, furniture and other items that are not necessary. The agent knows how to help buyers imagine themselves and their belongings in the space.

Your agent can then hire a professional photographer to take photos of your home once it is in picture-perfect condition.

Marketing Expertise

Marketing is a key skill for a seller’s agent. They will know what buyers want and how to make your house appealing.

Your agent will showcase your home in the MLS as well as on social media. They do traditional marketing, such as open houses and flyers.

Buyers screening

It is stressful and time-consuming to try to sell your home. You don’t want to have to deal with unqualified buyers. Your agent will ensure that no one wastes your time. Even a buyer that is truly interested in buying your house might not be able to get financing.

The agents earn money by way of a commission. It is in both your and their best interests to eliminate and screen out unqualified buyers.

Your agent will only work with buyers who are pre-approved and have gone through financial verification.

A good seller’s representative can provide you with a great deal of value. Many of the things that they do, you cannot or may not want to do yourself.

Original Blog: https://realtytimes.com/archives/item/1044820-what-does-a-real-estate-agent-do-for-sellers?rtmpage=

When is the best time to lower your home’s listing price?

May 11, 2023 by chorton Leave a Comment

Some buyers are relieved that the housing market in the United States is finally cooling. Home sellers rush into the market to try and take advantage of any remaining price boom.

The median asking price for homes is up 17.8% year-over-year. But sellers are starting to realize the writing on the wall, as buyers become more cost conscious with the rising interest rates. The price drop is the result.

How do you know when it’s the right time to reduce the price of a house you have on the market?

The price is usually the reason your home is still on the market

It can be frustrating if your house has been on sale for some time and you are not receiving the offers you expect or if you do not receive the attention that you believe it should. According to real estate experts, it’s usually the price that is at fault.

If the buyer feels that the price is good, they can ignore many other factors.

You may be charging too much if you get little traffic or no offers. It’s possible that you get a lot of traffic but your offers are lowball. Thirdly, if you have good traffic and negative reactions from buyers, it may be time to pay attention to what they’re saying. It’s important to listen to buyers who consistently comment on the price.

When to Lower the Price

You should act quickly if you believe you need to reduce the price of a home. It is best to lower the price of your home on the market within two weeks, especially when inventory remains low. You’ll usually see the most activity in the first 21-days after your house is listed, so take advantage of this.

You may also want to consider some indicators of the local housing market, such as the average number of days that a home is on the market.

Some real estate professionals recommend a price reduction after a home has been on the market for 10 days.

Before reducing the price, your agent should undertake marketing measures. Perhaps they will need to review your photos again and make sure they are good. You should also list the home in several places and address any feedback from buyers.

Learn about price cuts

It is not easy to reduce the price, and you may have to do so more than once. Your potential for needing to adjust prices increases as your time on the market increases.

You should not make more than three price cuts. You will raise a red-flag to potential buyers if you reduce your price more than three times.

It is also important to reduce the price in a strategic and calculated way. If you started with a high price, you might reduce it by 4% or no more than 9%. You might need to make a small cut if your price is comparable to the market value.

Some real estate agents believe it is better to reduce the price of your home in one go, to avoid having to do it again. You should discuss this with your agent. It’s possible that making multiple small cuts will just slow down the sale of your home. This is not what you want.

Original Blog: https://realtytimes.com/archives/item/1045118-when-should-you-lower-your-home-s-listing-price?rtmpage=

You Received an Offer, Now What?

April 21, 2023 by chorton Leave a Comment

Congratulations! Congratulations! Review the terms before you agree. While price is important, a good offer is much more than a simple number. When working with your realtor, consider these factors to help you decide what to do.

Do you have the right timing?

Your next address is required. It’s possible that you are buying a new home. A flexible offer will appeal to you more than one that has a short turnaround time or is inconvenient. You may find that buyers are willing to rent back your home to you temporarily after the sale.

Has a buyer offered to cover some of your costs?

The buyer can sweeten the deal if they offer to pay some of the closing costs. Although this amount is not included in the purchase offer, you will still benefit from it.

What is the amount of earnest money and termination option fee?

Some buyers show their interest by paying a large earnest payment. You may receive a large option payment, which is yours if you choose to cancel the contract.

What other factors are at play?

Many aspects of an offer can make it more or less attractive to you. These include factors such as appraisals, surveys and financing options.

Are you thinking of selling? Our agents at Preferred Properties of Texas are here to help!

Original Blog: https://www.texasrealestate.com/members/posts/you-received-an-offer-now-what/?utm_medium=email&_hsmi=254852030&_hsenc=p2ANqtz-_lo3yvB9BotDw1RY876Q2nDXT-y9lnGGuedPfmvobYvmZLt1yAYXa0uSw-14grwaw7pP1oiqFPmjY8Ntw20z-XJfELbw&utm_content=254852030&utm_source=hs_email

Questions Answered About The Home Selling Process

April 6, 2023 by chorton Leave a Comment

You’re likely excited to start the process if you have a property to sell. It’s difficult to not feel overwhelmed when you sell your home. There are so many factors to consider. We’ve done extensive research on everything you need to sell your home, and we have the answers you’re looking for:

What is the best way to determine my home’s worth?

A Comparative Market Analysis will be done to determine the value of your home and establish a listing price. A Comparative Market Analysis (CMA) uses comparable sales to yours that are similar in age, geography, size, and other features. A CMA is not an appraisal. Only a licensed appraiser can do this.

Is it a good idea for a company to start high?

Although sellers love the idea of starting high to see if they receive higher offers, this strategy is not always practical. If buyers use a price filter that is set to the expected area prices, they may not be able to see your listing. You also run the risk that the appraisal comes in lower than the contract price. This will force you to renegotiate or cancel your contract. If your listing price is higher than the neighborhood value of your home, it will be more likely that your home stays on the market longer while buyers wait for your offer to lower your price. You should set a realistic price for your home that will attract buyers quickly. My goal is to get you the best price possible in the shortest time.

What percentage of the listing price should I expect to receive?

The selling price divided by the listing price is what determines the list-to-sell ratio. This ratio is heavily influenced by the market. Sellers may receive close to 100% in a sellers market (low inventory), or even more if the home sells for more than list price. A buyers’ market has a greater inventory, which means that buyers have greater negotiating power. The list-to-sell ratio might be closer to 90%. My goal is to get as close as possible to a 100% market-to-sale ratio.

What is the quickest time I can get my house on the MLS?

I will start entering your information into the MLS system once we have agreed to work together. I will schedule a professional photographer to take photos. Once all information and photos have been uploaded, your listing will be live on MLS.

What should I do in order to be ready to list?

It’s a smart idea for you to start organizing your storage space, closets, drawers, and decor, as well as putting away any of your belongings. It may be a good idea to have your exterior pressure washed and your landscaping cleaned up. We are happy to discuss specific items that can help improve the appearance of your home.

What will it take to show the results?

We will reach an agreement with you regarding the terms of showings. We want the home to be accessible to all buyers with minimal disruption to your life. If we do not agree to a showing schedule, I will inform you before any showings. Most often, we use electronic lockboxes that are only accessible to active members of the local Realtors association. If necessary, we can schedule the lockbox. Each time the lockbox has been accessed, I get a notification.

How do you market my property

It is vital to market your listing. Most buyers search the internet for their property via MLS (via their agent), Realtor, Zillow or other search engines. Within a few days of being active, listings in our MLS system will appear on these websites. Additionally, I share listings with agents in my network, on this website and on social media. We can also discuss other opportunities, such as hosting open houses or marketing in your area.

What is the time it takes to find a buyer for your property?

There are many factors that influence how long it takes to find a buyer. The market conditions, price range (pricier homes are more difficult to sell), location (whether the property is in a desirable area or unique location) and condition of the house (is it ready for move-in or in dire need of renovations). Most houses go under contract in 30 days if they are priced correctly and there is no significant damage or other extenuating circumstances. In a seller’s marketplace, homes sell quicker while buyers take longer to search for houses if there is more inventory.

Are you able to qualify the buyer?

Once an offer has been received, I will work closely with the buyer’s agent in order to vet the buyer. All offers must be accompanied either by a pre-approval letter from a mortgage lender, or if you are paying cash, proof of the funds necessary to pay for the purchase price. After accepting an offer, the buyer should pay the agreed-upon escrow deposit and schedule inspections according to the contract. If financing is required, their lender will begin the loan approval process. To ensure that the process is completed correctly, I will keep in touch with the buyer’s agent.

What are the associated costs?

The seller typically pays the fees for the agent. These are split between the buyer’s and seller’s agents. The seller pays their portion of HOA dues and property taxes. The buyer will pay their share to the seller if the entire annual amount has been paid. To make the transaction smoother, the seller may pay a portion to the buyer’s closing expenses.

Is your commission negotiable?

The commission cannot be negotiable. Remember that the commission will be split equally between both sides. Both agents must adhere to the brokerage structure. Buyer agents may be less inclined to advocate for your property if we reduce the commission upfront. To earn the commission, I will do everything possible to represent you truthfully and with integrity. This is my job, and I will do whatever it takes to earn my salary and close transactions for clients.

Do you want to represent the buyer as well?

If I do find the buyer for your house, you can be sure that I have the necessary training and experience to handle both sides of the transaction fair. As a professional, you can trust me to keep the confidential information and be loyal when dealing with each party. Communication is easier when I represent both sides. Although it is difficult to work on both sides of a transaction, it wouldn’t be a problem.

Can I cancel my order if I find my buyer?

Listing agreement is a contract between me and you, and/or my brokerage. You are encouraged to read it. It also contains the cancellation terms. After we have signed the listing agreement should any potential buyer who approaches me directly be directed to me.

How often will we communicate with each other?

A successful sale is made easier by communication. You will be kept informed of all developments at every stage. If you have any questions or concerns, please don’t hesitate to contact me. We will go over the listing information and discuss our preferred communication methods and schedules so that we are aware of each other’s availability.

Are you thinking of selling? Our agents at Preferred Properties of Texas are here to help!

Homeowners Can Benefit Financially and Emotionally by Remodeling Outdoor Features

March 22, 2023 by chorton Leave a Comment

Most Realtors (92%) recommend that sellers improve curb appeal before selling their home. The largest percentage of Realtors ^(r), suggested that sellers improve the curb appeal of their home before listing it for sale. These were also the most popular projects for which landscape professionals have seen increased demand in the past year. These and other findings are based on a report by the National Association of Realtors and National Association of Landscape Professionals.

Many homeowners have made their backyards their own, creating oases filled with plants, trees, and pools. If the homeowner wants to sell, these outdoor features can be embraced by him or her.

Landscape professionals were most in demand for outdoor projects such as an overall landscape update (61%), maintenance (58%), and a new patio (55%). They saw less demand for a wood deck (15%) or an in-ground swimming pool (25%) as well as tree care (29%).

It is not surprising that most Realtors ^(r/) and homeowners place high importance on a yard’s curb appeal. Green spaces and healthy outdoor living can improve the quality of life, enhance home value, make communities more attractive, and help people’s mental as well as physical health.