For my last blog entry, I looked at what a buyer’s agent can do for you. This time, I will look at what a listing, or selling, agent can do for you:

 

  1. Set expectations for how the selling process will go—Many sellers are not completely sure how the process of selling their home will go. Will it take a long time or will it happen quickly? Should they accept the first offer or wait for others? How long should they wait before considering a price change? All of these questions should be answered in the initial meeting by the listing agent.
  2. Set the price—Some homeowners already have a price they think their house should sell for, whether or not it is based on market realities or sentimental value. It is the listing agent’s duty to give an honest assessment based on comparables in the area. After looking at recent sales in the neighborhood, comparing size of houses (including number of bedrooms and bathrooms) and any other important factors, the listing agent should set a firm price point for the most return in the quickest amount of time. It does no good to overprice a home, as it will sit longer and make buyers think there is something wrong with it.
  3. Communicate with sellers on a constant basis—Whether or not there is activity on the house, the listing agent should keep up to date with their seller on a constant basis. They should always alert the seller of any offers, give advice on when they think a price drop should be done and give any other advice they think will help the house sell faster. It is imperative for the listing agent to make the seller feel comfortable and that you have their best interests in mind.
  4. Advertise the house—Simply putting a sign in the yard and slapping the picture on the MLS isn’t enough. A good listing agent should post the house on social media, host open houses and constantly remind their database that they have a wonderful house for sale. Some agents think simply getting the listing is a job well done. A good agent knows the work has just begun.
  5. Be honest—As an agent, it is your duty to provide information on any defects the house has. If you see it or know about it, you must reveal it. This includes the sellers, who should fill out a seller’s disclosure making available any repairs or problems with the house while they have lived there. Failure to do so may result in a lawsuit, even after the new homeowner’s have been there for a while. When in doubt, disclose, disclose, disclose.
  6. Negotiate a fair price—While you probably won’t get what you list the house for (unless you are in a very hot market), a good agent should be able to get close to what they are asking for. They should use their powers of negotiation and market knowledge to bring the seller the biggest return.
  7. Handle multiple offers—A listing agent must be able to juggle multiple offers and single out the one that fits best. This involves choosing the most solid buyer from the bunch, making sure there are as little hurdles as possible to get to the finish line. If financing is a question for one buyer but not for another, go with the more secure option. If one buyer has a contingent offer on the table while another has no strings, pick the no strings every time.
  8. Advise the seller on concessions—Once a buyer is under contract, the inspection period begins, which means issues could pop up. Alert your sellers to what is a good concession to make and what isn’t. You should tell them beforehand what issues are possibilities to pop up during the inspections, like that leaky roof or drafty window. Tell them other options that can be explored, like issuing a credit instead of doing the repairs yourself.
  9. Make closing smooth as possible—Make sure any issues are put down before closing. Nobody wants a hidden surprise minutes before the deal is done. Be a fire preventer, not a fire fighter.
  10. Celebrate! You just sold a house and made your clients extremely happy. Go and have a drink and talk about what a ride it was. Just make sure you keep in contact because these clients want to refer you for the great job you did with their house.

Do you think the home values in your area have recently gone up? Check and see with my free home evaluation.

E-Mail me at kdarr@stlrealestatellc.com to set up a meeting!

 

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Article Written By: Kevin Darr, a licensed Real Estate Agent at STL Real Estate.

Thinking of buying or selling a home in the St. Louis metro area? Call Kevin today for a free home evaluation or buyer’s presentation. Kevin can be reached at 314-780-3090.

By | 2017-12-05T08:24:23+00:00 January 28th, 2016|Categories: 1. STL Real Estate, Blog, Homeowner Tips, Real Estate Agents, Sell House Fast|Tags: , , , , , |