There are those who want to buy real estate . Then there are those who want to sell their property . And though, during a particular real estate transaction, the seller and the buyer are two different parties, the buyer has, in all probability, been a past seller himself. Most often, the selling has been done first in order to raise funds for the future purchase. If you are going to be one such seller you will want the sale to be both profitable and satisfying. You therefore need to research and consider certain pointers that will help you avoid the pitfalls.
How do you know how to price your property ? Your real estate agent , Jeff Melancon , can enlighten you as to events in the marketplace, current trends of prices, terms and conditions, and even financing practices for properties similar to yours. Basically, what you want to think of is an asking price that sounds both reasonable and profitable and will help you make your sale as quickly and as effortlessly as possible.
Once you have decided on your asking price you need to formulate a marketing plan. What can you do, cosmetically or structurally, to your property to make it attractive enough to be sold? Then you need to advertise your property to the public and to other real estate agents. It has been noticed that in more than half the transactions that take place your buyer comes through another real estate agent . After all, he or she is helping that client look for something he can buy, and your property is up for sale, isn't it? Your agent will extend information about your property to other real estate agents through a Multiple Listing Service and other cooperative networks. Realtors are expected under the Realtor's Code of Ethics to utilize these cooperative services to the benefit of their clients. Your real estate agent , Jeff Melancon , will give you valuable advice to help you decide the media of your choice for advertising, the frequency with which you advertise the sale of your property, and other advertising tactics.
However, although advertising is important, it has been established that personal contacts, friends, family and clients are responsible for the greater majority of real estate sales.
Because you have advertised the sale of your property you will be approached by strangers. This could pose a security risk. If your property is being marketed through a real estate agent you will not be compelled to allow strangers into your home. Your real estate agent will be expected to first pre-screen prospective clients and then accompany them through your property.
And now, on to one of the most important aspects: negotiating. Whether you're a buyer or a seller most of the issues you deal with are the same. You need to evaluate every proposal that comes your way, objectively. Your real estate agent can help you do this without you having to compromise your position. Remember that the initial agreement is just that, 'initial'. It only initiates the whole process, which includes appraising, inspecting and financing.
Though this may appear simple it could be fraught with risks along the way. Who better than to guide you through it and help you formulate your legal, winning agreement than your real estate agent Jeff Melancon ?
Monitoring, Renegotiating and Closing
What are some of these risky propositions that may pop up during the process of selling your property ? Financing unexpected structural repairs, an ambiguity in the title or deed could sour the deal for you. You may be overwhelmed by all the paperwork itself. Here's where your agent can really prove useful by resolving certain issues, helping you renegotiate and seeing that you close the transaction.
Paying your agent
Generally the seller pays the real estate agent through a sales commission after a transaction. Be fair, open and honest in dealing with your real estate agent. In return your real estate agent will be committed to you and your cause.