- If You Use a Real Estate Agent
- If You Sell on Your Own
- 4 Critical Skills for Any Property Seller
It’s time to close the current chapter in your life and start a new one on the other side of the country. Before you get all excited about that last part, you’ll first need to sell your home.
At this point, you need to decide to sell your property on your own, or to perhaps use a real estate agent. Whichever way you choose to go, it is likely to be a stressful process.
Have a read at the breakdowns below to see which option would be a better fit for you in your situation:
–> If You Use a Real Estate Agent
Using a real estate agent means that you turn the entire process of selling your property to one who is experienced and, hopefully, an expert on the type of property you are selling, as well as a source of knowledge when it comes to the physical location of that property.
If you find a good real estate agent, and you need to research your options, you will get expert advice on pricing, repairs to be made, updates that will provide greater value, staging your property, etc to name but a few.
The cost that you pay, of course, is the commission to the agent (usually 5-7%) of the sale price.
You need to ensure that your agent:
- Has a good track record for sales in your area and your niche (residential, commercial, etc.);
- Listens to what you want;
- Provides advice based on factual information on the current market;
- Has a plan for marketing your property which is shared with and approved by you;
- Has a contract with a definite start and end date;
- Promises to keep you fully updated on showings and feedback from lookers;
- Has a track record of working well with both buyers and sellers, as well as with other agents who may ultimately be involved.
–> If You Sell on Your Own
In the event, you’ve decided not to go with a real estate agent, be aware that the following will be your responsibilities:
(1) Marketing of your property
Fortunately, there are a large number of “For Sale By Owners” websites you can use to post your sale, and this is a big plus. But, keep in mind, you will be responsible for the content of your posting.
How creative are you in describing your property? This might be the time to contract with a creative writer who can craft amazing descriptions of your property. There are a number of freelancers and writing services with creative writing experts who can “make your property description rock.”
You can check out writing services like Trust My Paper or Grab My Essay (both have substantial business-related creative writing departments) or look for freelancers on sites such as Upwork and Freelancer. Check out their expertise and samples of what they have produced before choosing one.
Marketing will also include using the digital space. In addition to using popular for-sale-by-owner websites, you may want to use social media too. In fact, producing a nice video for social media marketing is something you should consider.
(2) Making of a defect list
Furthermore, you are also responsible for going through your property, making a list of defects, and fixing them. Or not, and the buyer will make sure to adjust his price accordingly!
Do you have chipped paint inside or out? Sticky windows, etc.? Make sure not to forget the seller’s disclosure statement, copies of your utility bills, property taxes, HOA costs, etc. Potential buyers will want to see all of these detailed figures.
(3) Staging your home
You must stage your home for showing. A real estate agent with experience will provide great advice. You will need to research this on your own and be certain that it has great curb appeal, both inside and out.
(4) Being a pseudo-agent
You will need to take the calls, arrange the showings, and seek follow-up comments and feedback.
Once you accept an offer, you will need to draft all of the legal documents (there are online resources), arrange the necessary with the conveyancing attorneys, and make sure that you have covered all the bases. The latter might involve a cost for the advice that you must plan for – do not cut corners here.
4 Critical Skills for Any Property Seller
Whether you are selling your own property or have contracted with an agent, there are some critical skills that any seller must have:
(1) Knowledge of the local market
This is critical. You or your agent must have intimate knowledge of the current market. This is perhaps the most important factor in pricing of a property – understanding what the local market will allow.
Of course, this will be modified by updates and improvements that have been made – things that may set the property above the rest in the area. What these are worth in terms of pricing will also have to be understood.
(2) Integrity and honesty
This must happen from the very beginning. You need to describe the property accurately; your seller’s disclosure must be painfully honest; you must accurately answer questions that potential buyers might have. You must openly provide documents related to utility bills, insurance, and taxes.
If there have been issues, you must disclose them and show documentation of how you fixed those issues. And if you use an agent, you need to get references from former clients to ensure that your agent is a person with a solid sense of ethics.
Integrity is critical in any business operation. Seth Macintyre, Marketing Director for Studicus, says, “Once you have compromised your integrity, and you have been dishonest with a potential customer, just to make a sale, you are sunk. It will all come out in the end, and the sale will be lost.”
(3) Communication skills
You will get all sorts of interested home buyers stop by, with a variety of backgrounds and with a variety of personalities.
Your communication skills include diplomacy, to be sure, when you are dealing with difficult people. Part of communication is also listening, and you should listen to objections or negative comments about your property.
First, they can give you insight as to things you might do to help a sale. Second, you will need to practice not becoming defensive in the face of criticism. You are emotionally involved with your property; the buyer is not. And this is one benefit of an agent. S/he is more objective and is probably an experienced diplomat/negotiator.
(4) Understanding of laws and regulations
Rules and regulations can vary widely, and you must be aware of all of these requirements. If you use a local agent, that will be covered, of course.
About the author: Nicole Garrison is a content strategist, writer, and a contributor to a number of platforms, including Best Essay Education, and Pick the Writer, and a variety of venues for marketing specialists. The is a dedicated and experienced author who pays particular attention to quality research. In her free time, Nicole is a passionate runner and a curious beekeeper. She also runs her own blog, Live Inspired Magazine.
