Thinking about Selling your Property?
Courtney Bass + Co. offer the experience, market insight and resources needed to successfully sell your luxury home.
FAQ:
What can we do pre-listing to make our house most appealing?
The first thing buyers see is the front exposure and landscaping. Pay close attention next time you drive up or observe from the front yard – if you were looking for a home, would it make the right first impression? Does the paint, front door(s), driveway and landscaping look well-maintained or neglected? In 2021, a newer roof is especially desirable considering the changes in homeowner insurance rules.
Is there any benefit to having a pre-list inspection performed?
Yes. It takes out some of the guesswork about what buyers might find and require repaired/credited (yes, even with an “as is” contract). It also gives you an opportunity to get a head start and repair items that make sense. *ask how you may qualify to receive a refund of inspection fee at closing
What is an appraisal?
Appraisals can be helpful in pricing property more accurately and as justification on price (within the description). I usually recommend getting an appraisal for more unique properties that are challenging to value.
Should we offer a home warranty?
Some sellers (or agents) offer a home warranty to potential buyers as incentive, especially in the case of older appliances, but in a strong seller’s market it’s unnecessary. Buyers will sometimes ask for it within their offer or as part of negotiations after inspection.
What closing costs must I pay?
First, sellers usually choose the title/closing company or attorney, and it is customary that they pay for the buyer’s title policy. (if buyer demands to choose where to close, they would forfeit the seller-paid title policy). Other fees paid by the seller include prorated taxes, HOA, estoppel, lien & title search, transfer taxes and seller’s portion of fees to title, plus commission. Rule of thumb is around 1% + commission.
Isn’t it better to price my home higher than anticipated sale price (for negotiation)?
You’re likely to accumulate unnecessary days on the market when you price too high. For one, if there are potential buyers qualified for your home’s market value range but you list higher- they may never see the listing, or rule it out based on price.
What are some indicators I should consider when determining my list price?
Most times it’s “market value” and agents look for recent comparable sales to support the list price. This can be challenging when comps are scarce, so it’s imperative to share aspects of your home that reflect value. *The market is unusual at the moment – too many variables to cover here.
What steps are involved in listing my home?
In a nutshell, determining the right list price, signing an agreement and deciding on showing procedure. Of course there are a number of options to consider which your agent should cover.
What options and choices are available to me regarding listing contract, purchase offers and the steps involved?
There are multiple decisions to be made before the listing agreement is signed – and I suspect some aren’t commonly mentioned by agents. For example, are you aware that FL agents operate by default as “transactional” brokers? Simply, it means fairness but no fiduciary duty to seller, though you may require exclusive agency if you prefer. Exclusive Agency requires fiduciary duty to the client, and would prohibit your agent from also working with the buyer. This is your choice. Some agents will agree to a slightly discounted commission should they also bring the buyer, thus earning the entire commission.
Another option that should be decided at time of listing is the type of contract you prefer to receive for offers. The two most common forms are (1) the Standard and (2) the “As Is.” Your agent should be able to explain the difference.
If I receive multiple offers, how should I base my decision?
It’s not always the highest offer that wins. The strongest offer with all things considered should be the measure. That can mean fewer contingencies or a hefty down-payment. Verifying buyer qualifications is highly recommended.
Who is responsible for commission and how is it paid?
The seller traditionally pays the listing broker an agreed-upon percentage of the purchase price, and the broker will offer part of this to a cooperating agent- clearly stated in realtor terms on the MLS listing. *This info will be stated within your listing agreement.
What duties and responsibilities should I expect from my agent?
Your agent should manage every step and detail from listing through closing and keep you updated on a weekly basis. The agent’s job is largely a role of consulting, negotiation and communication with all parties involved. We all desire a smooth, easy transaction, but there are plenty opportunities for problems- and a solid, seasoned agent can keep everything on track or work out a solution.
How will you market my property?
While many efforts are the same for all luxury properties, such as high-quality, captivating photography, drone images, video/virtual tours, syndication of the MLS listing out to multiple web-based sites like Realtor & Zillow, social media marketing and both digital and print advertising, some, like equestrian and golf properties, have additional outlets that capture those niche audiences. Besides all that, there are Broker’s Open events to get as many agents previewing the property as possible, or something more elaborate to entice as many of the most likely buyers to visit, tour and enjoy catered food & beverage with live music, luxury car test-drives, art exhibits, etc. There really isn’t a one-size-fits, and should you desire a lifestyle event to help promote your home, it will be customized for the greatest effectiveness.
What is most important in selecting an agent?
Experience, reputation, & commitment. It helps to like the professional representing you, and more importantly, you should feel comfortable trusting your agent to make you a top priority.
What’s a fair amount of time to list with an agent?
Luxury homes typically stay on market longer than the average home. Even in a great seller’s market like we have now, we often see homes pending after 30 days and more likely 60-90. Because of the time, effort and expense associated with successfully marketing a luxury property, most agents will ask for at least a 6 month agreement, and more likely 1 year.
If you’d like to ask questions related to the present market, I welcome your call.