Heritage Realty - Winder, GA

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83 E. May St.
Winder, GA
30680
770-867-6121

Sellers

Can I sell my house myself?

Is there any seasonality to the market?

Top 10 reasons to use real estate representation.

How long should it take to sell?

Who can help me determine the right asking price?

How flexible should I be about the asking price?

How do I reach the right potential buyers?

How important is advertising?

What should I expect from an open house?

As a seller, how can I find out what my house is worth? Do I need to get more than one opinion?

What is the difference between market value and appraised value?

Do I need a contingency provision if I have to sell my existing home before I purchase a new home?

Will I owe taxes when I sell my house?

What is a listing agreement?

Can I sell my house myself?
Many people believe they can save a considerable amount of money by selling on their own. They look at the average commission on a house and remember stories of friends or relatives who managed to get through the process with seemingly little trouble. "Other people have sold their own homes," they say – "so why can't I?" Approximately 10 percent of American homeowners handle their own sales. But in order to do this, you'll need to realistically assess exactly what's involved. The routine parts of the job involve pricing your house accurately, determining whether or not a buyer is qualified, creating and paying for your own advertising, familiarizing yourself with enough basic real estate regulations to understand (and possibly even prepare) a real estate contract, and coordinating the details of a closing. These are serious responsibilities to take on, and they include the concerns that your house is only on the market when you're home, your marketplace is limited to those you can reach locally, and a mistake may cost you the money you're trying to save. Commissions are negotiable. You can talk with a broker to discuss the level of services you will require to sell your home and determine an agreed upon commission rate based upon the services provided. The best reason for working with a real estate broker is the enormous amount of information they have at their disposal – information that can help make your house sell faster and easier. Professionals know about market trends, houses in your neighborhood, and the people most likely to buy in such neighborhoods. They also know how to reach the largest number of people who may be interested in your house (both through old-fashioned sales skill and the Internet resources of a reputable real estate company), and are trained in areas like screening potential buyers and negotiating with them. Finally, they're always "on-call," and willing to do the things most of us don't: working on the weekends and answering the phone at all hours.

Top 10 reasons to use real estate representation.
1. Optimize Sales Price
2. They get your home ready to show
3. They maximize your property's exposure in the marketplace
4. Buyers are more comforable contacting agents
5. They can pre-screen prospective buyers
6. They can help guard against misrepresentation and claims
7. They can help provide buyers with community information
8. They will ensure privacy, confidentiality and safety for both buyers and sellers
9. They will negotiate for top dollar
10. They will have access to a customized marketing system

Is there any seasonality to the market?
Peak selling seasons vary in different areas of the country, and weather has a lot to do with it. For example, late spring and early fall are the prime listing seasons in many areas because houses tend to "show" better in those months than they do in the heat of summer or the cold of winter. And of course, people like to do their house shopping when the weather is pleasant.

How long should it take to sell?
Average listing times vary from 30 to 180 days, according to market conditions in a particular region, town, or even neighborhood, and of course, price, terms, condition, location, accessibility and exposure play an even greater role. Selling in any market is easier if you keep time on your side. Most professionals will tell you that allowing yourself at least six months will put you in a position to get a better return from their marketing efforts.

Who can help me determine the right asking price?
Real estate sales professionals suggest asking prices based on a wide array of information you may not have at your disposal, including recent listing and selling prices of houses in your neighborhood. If you're not completely confident in their suggestions, you may want to order an appraisal. Next, establish clear priorities. If you had to choose, are you more concerned with selling quickly, or getting the best price? Someone else — a neighbor, friend or relative — may point out advantages or disadvantages about your house that you hadn't thought about. Third-party views will help you start thinking of your house as a commodity, with positive and negative selling points. Then you should decide on a price that you feel is competitive and consistent with what other houses in your area have sold for.

How flexible should I be about the asking price?
Generally, the first three weeks will be the test period of your initial asking price. If you see showings drop off and very few return visits, you may want to consider repositioning your asking price. Most buyers leave room for negotiation when they make an offer. Thus, a certain degree of flexibility is usually called for on the part of both the buyer and seller. While it is ultimately your decision to accept or reject an offer, or present a counter-proposal, a good sales professional can be of great assistance to you during the negotiating process. In fact, negotiation is one of the valuable skills a real estate professional can offer you. As negotiations proceed — whether in writing, face-to-face, or by phone — your sales professional will inform you of your options in responding to each offer from the buyer, so you can make an educated decision as to how you want to proceed.

How do I reach the right potential buyers?
Today, people are moving farther and more frequently than they used to; it's not unusual for upwardly mobile executives to relocate across the country more than once in a year. The result is that the pool of potential buyers for your house is much larger and spreads far wider than ever before, and the competition to reach them is fierce.

How important is advertising?
Advertising remains an important component in the marketing process. Today, however, this means much more that an ad placed in the local newspaper. Today's real estate brokers have the knowledge and resources to market your home through an array of proven modern methods, including TV, magazines, radio, the Internet and direct mail in addition to traditional print advertising. They are trained to determine where the pool of buyers for your particular property might most likely be found and from that, can best determine the type of advertising that is best for your property

What should I expect from an open house?
The open house is another valuable part of the marketing process, offering prospective buyers the chance to view houses in a low-pressure, "browsing" atmosphere. With that in mind, you shouldn't expect it to generate a sale, at least not directly. What you should look for is interest expressed and requests for private showings made to your sales professional in the days following the open house. Open houses are always valuable. If many prospective buyers attend, it shows you that the property is attractive and saleable. If very few people show up, it can indicate that the price is too high, and cause you to look for ways to improve Curb appeal. Try not to draw your own conclusions — your sales professional will give you a full report on open-house activity and offer a professional assessment of its results. Sales professionals often hold an open house for other sales professionals shortly after a house is listed. This event, usually held mid-week when real estate people can give it their full attention, can be as important to your efforts as your listing in the local MLS. The more professionals who see your house, the more prospects you're likely to reach.

As a seller, how can I find out what my house is worth? Do I need to get more than one opinion?
Initially, your real estate agent can provide valuable guidance and perform a CMA (Comparative Market Analysis) for you. Prior to completing the sale, a formal appraisal will have to be done in order to satisfy a lender.

What is the difference between market value and appraised value?
Appraised value is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process; approximate fees range from $300 to $350. Market value is what price the house will bring at a given point in time. A Competitive market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker.

Do I need a contingency provision if I have to sell my existing home before I purchase a new home?
Yes. If you need the funds from the sale of your existing home, you should be sure that you provide for such contingency in your contract to purchase the new home. By doing so, you will not be obligated to purchase your new home until your existing home sells.

Will I owe taxes when I sell my house?
Thanks to the Taxpayer Relief Act of 1997, many home sellers no longer owe taxes on the gain they make when they sell their house. Married taxpayers who file jointly now get to keep, tax free, up to $500,000 in profit on the sale of their home, as long as they lived in it for two of the prior five years. Single people and married taxpayers who file separately may keep up to $250,000.

What is a listing agreement?
If you do decide to hire a real estate agent to assist you in selling your home, he or she will define the terms of your agreement in writing. This is called a listing agreement. The agreement will cover such items as: Length of time the agreement covers, Commission to be paid to the agent, Advertising or other promotional materials the agent will provide,Sale price of the home

© 2006 Heritage Realty