Updated: Aug 6, 2021
Check out some FAQs that Sellers will often ask Agents, and get real answers about real estate.
When's the best time to sell?
Rumor has it, the best time to sell is "peak real estate season" - Spring and Summer. But is that true? No. Life is not dictated by the seasons here in sunny Southern California, and neither are we. If we learned anything from Covid-era real estate, the traditional real estate season is no longer and the economy is truly directing the market in terms of when it's best for ready Sellers to put their homes on the market.
The best time to sell is when you are emotionally ready - as selling can be a emotional commitment - and when your personal circumstances support the move. Job changes, family needs and downsizing often dictate when a Seller chooses to sell, and this decision can only be made by YOU. Any Agent who pushes you to sell for any reason is not the Agent for you. You guide the ship, we just listen to the wind and set the sails for you.
How's the market?
Currently? We are in a serious Seller's Market, meaning there is a LOT of demand with fewer homes on the market (due to Covid). This typically translates to higher home prices and bidding wars - which means more money in the Seller's hands upon closing.
But as we know, the market ebbs and flows - and this is why it's important to have a Realtor who has their finger on the pulse of the market at all times. At the time you're reading this, we could very well have gone back to a Buyer's Market - or found ourselves in a balanced market, where supply and demand are closely tied and nobody has a particular dominance.
Follow our social media pages for the latest info on where the market's at, and what you can expect as a Seller (or Buyer!).
What's my home worth?
In real estate, we perform what is called a Competitive Market Analysis, CMA, or comps. This analysis takes local market information including local homes for sale, homes under contract, and homes that have sold into account when formulating a price for your home. The process can be lengthy and should be thorough, including quantifiable information like square footage, number of bedrooms and number of bathrooms - as well as more qualified information such as desirability of neighborhood, amenities and condition of the property.
Like people, each home is unique. A Realtor who has done their job well can walk you through the process of pricing your home, justify the means of determining that price, and leave you feeling confident in the number. Be weary of Agents who may overprice your home to dazzle you - this can lose you big money in the end when Buyers and Buyers' Agents overlook your property because of the unrealistic listing price.
How do I prep my home for sale?
Great question! Just some quick de-cluttering and cleaning can really amplify your home's curb appeal and garner a great first impression for Buyers.
There are several simple things you can do to spruce up your home in a pinch, and with little investment. Some quick suggestions are drawing the curtains to let in as much natural light as possible, switching out old rugs for new ones, taking down family photos, and cleaning up clutter. We have a much more comprehensive list of what all you can do to quickly improve the look of your home, and increase the curb appeal and value.
Email Allie at firstname.lastname@example.org for our list of To Dos, as well as any vendors you may need to get in touch with to do more heavy lifting to get your property ready for sale. We have a comprehensive list of contractors and vendors, screened and approved, and we are happy to share this info with you.
How do you market a home?
Marketing your home for sale is one of the most important parts of the selling process. Your Agent should be able to clearly define all that they plan to do to get your home sold, in the quickest time, for the right price.
Old-school tactics are still at play in the market, including hosting Open Houses and leaving flyer boxes on your For Sale sign out front. But in this digital age, isn't there more? You betcha. Social media, paid and organic content creation, 3D and virtual tours, and on-the-ground marketing can all help share the good word about your home on the market. Fortunately, digital marketing is our THING.
What about commission?
There's an industry secret I'd like to let you in on, regarding commission.
The first is common knowledge that "the Seller pays the commission" and though this is technically true, there's a catch. The Seller may set the commission rate with the Listing Agent, and that rate is then split between the Listing Agent and Buyer's Agent upon closing. But although the Seller is technically paying for the commission - they are paying it from the sale of the home - that the Buyer is paying for! So the Buyer's money goes to the Seller, which then is split between Agents (Brokers). Ultimately, the Buyer and Seller both pay the Agent commissions.
Other important information for you to know is, commission is always negotiable. Although the typical range is 5-6% in the Los Angeles market, this is NEVER set in stone. If your Agent doesn't ask you to discuss commission that's a big ugly red flag - because transparency is non-negotiable as far as we're concerned.
Have other questions you'd like answered as a potential Seller?
Contact Allie at 562-966-1139 or let us know in the comments below!
#realestate #SellerFAQs #SellersMarket #BuyersMarket #LosAngeles #LongBeach #OrangeCounty #consciousrealestate #commission #realestatemarketing #marketupdate #homevalue #vechilrealestate #craftedrealestateexperiences #rootedincommunity