Frequently Asked Question by clients before selling their home
With the real estate market becoming more and more complex day by day, if is not unusual to hear a bombardment of questions from clients who are to sell their homes. We have come up with a list of frequently asked questions by clients before selling their home. These questions are included with answers from expert real estate agents to help clients understand better
Read the responses and get a better understanding of how to deal with these questions.
Q: “How can I determine the value of my home?”
A: There are two ways to go about home value determination:
- An appraisal: you can hire an appraiser to figure out an estimated value of your home. Appraisal is a specific evaluation which determines the market value of any property. It also takes into account all the renovations and modifications made to that property.
- Comparative Market Analysis (CMA): this analysis can be done by the client as it is considered to be an informal way of determining the land’s worth. This method involves comparison of the property for sale with other properties in the same area.
Q: “What factors influence the value of my home?”
A: when it comes to selling a property, there are a number of factors that determine its value. As a real estate agent it is your job to keep these factors in mind and help your clients gain more profit on the sale. Some of the important factors are:
- Size, square footage, elevation and modernity are important factors
- Location, accessibility, special additional attributes and amenities are also considered crucial in determining the price of a house
- Real estate market conditions and the trends in a particular area
Q: “What is the best way to negotiate selling price of my home?”
A: it is not usual for a deal to follow through on the very first bid. Buyers are often seen countering the price quoted by clients. This is a crucial step in the entire selling process and you need to step up and help your client. For a client to make a deal on their own, they must know the following tactics:
- Having a know-how of market trends
- Making the buyer know of the price determining method
- Always make a counter offer
- Do not be offended and continue with a counter if the buyer made a lowball offer
Q: “How much will it cost to sell my property?”
A: The costs involved in selling a property vary. There are certain services that need to be acquired in order to follow through with a property selling. As a real estate professional, it is your job to provide your client with an estimate of costs involved in selling their house. Some examples of cost include:
- Appraiser fee
- Inspection fee
- Escrow fee
- Lenders fee
Q: “How can I attract more buyers to my property?”
A: attracting buyers is something that is considered crucial in a property sale. There are number of methods to gain buyers attention. You need to make a market plan with your client and stick to it in order to gain more buyers. Some modes of buyer attraction are:
- For Sale Sign
- Open house
- Online marketing
- Local newspaper
Q: “What is my role in the selling process?
A: your clients plays an important role in the entire process. The responsibilities of a client in a real estate transaction are:
- Property maintenance
- Open house conduction
- Looking after valuables
- Letting the professionals deal on their behalf