Answering Seller FAQs
This page is dedicated to answering some of the frequently asked questions I receive from sellers. If your question(s) is/are not here, you can call or text me during my listed business hours to discuss, or send me an email with your question(s) and I will respond as soon as I can!
WHAT ARE YOUR BUSINESS HOURS?
My current business hours are
Monday - Saturday: 9 AM - 5:30 PM
Sunday: Closed
CAN I CALL/TEXT YOU AFTER HOURS?
Of course! I understand how thoughts, ideas, questions and concerns can come about at all hours of the day & all days of the week. You are always welcome to reach out to me, and I will respond during business hours the next day.
WHAT COMPENSATION RATE DO YOU CHARGE?
I aim to be fully transparent regarding my compensation rate for the services I render. With that being said I proudly offer 3 compensation rates.
There is NO "standard" commission/compensation
DOES YOUR COMPENSATION INCLUDE THE BUYER'S BROKER'S COMPENSATION?
Thank you for asking! No, the rates listed do not include the compensation for a buyer's broker. There are a couple reasons for that:
*Not all buyers have a broker, and I am willing to assist an unrepresented buyer if you should agree. (This is discussed during the listing agreement breakdown session)
*Buyer Broker compensation is not required, and can be negotiated, but we do use the offer of buyer's broker compensation strategically to win in today's market:
*Offering buyer broker compensation allows your home to be more competitive in the current marketplace. With higher interest rates and continued low inventory my goal is to create as much desire for your property as possible and this can be one way to help buyers feel more inclined to work with you to buy your home!
*Not all buyers have the funds necessary to cover their broker's compensation AND closing costs, etc. You will see that being open minded to broker compensation your buyer pool grows. While it is highly unethical, there are brokers who will refuse to show a property if there isn't a compensation offered for them, especially if their buyer cannot cover this expense alone.
While it is always YOUR choice, I would advise considering offering (or being open to accepting an offer requesting) buyer broker's compensation. This is likely to improve the speed & smoothness of your transaction. There are many ways we can offer a buyer broker compensation and still net the best price, so let's discuss this concern further to help you feel prepared!
HOW LONG IS OUR REPRESENTATION AGREEMENT?
I currently offer representation agreements in increments of six (6) months. The market is shifting and homes do sit longer than they have in the past so a span of about 180 days allows me to properly market your property and bring you the most current & qualified buyers possible. If you feel that, at any point, you are not receiving the best quality service, we can discuss the termination process. On the opposite side, we can discuss making your agreement longer if you have any extenuating circumstances, or just wish to move slower in the process!
HOW DO I KNOW IF/WHEN THERE IS A SHOWING?
Part of your service, regardless of which compensation package you choose, is access to the ShowingTime App.
This app is very user friendly and will allow you to see upcoming appointments. It also offers customizable notifications; you can choose how you'd like to be notified of showing requests! The options are email, text message, or push notification. You will also receive a text message from me notifying you of requests!
If your property is vacant, or you don't want to respond to every request through the app, you can opt for me to receive everything & notify you via text message to confirm the availability of the home for the requested time/day.
You can also opt to set up a buffer time to ensure that you have ample time to prepare for visits, and to allow for visits that take longer than anticipated.
You will be informed & in control throughout the showing process, as well as knowing who entered your home and for how long!
WHAT DETERMINES MY HOME'S VALUE & LISTING PRICE?
Setting the right listing price is CRUCIAL for attracting highly interested and qualified buyers to your home, and selling it as quickly as possible. here are a few things that influence your home's value, and the listing price I suggest:
*Market Conditions: This is a big factor for selling your home! We will determine current trends in your local market, including recent sales of similar properties, inventory levels, and buyer demand for homes like yours.
*Property Specifics: There are unique features in every home, and these can play an important role in pricing your home appropriately.
*Location: Homes in desirable areas will typically sell more quickly and for a higher amount than similar homes in other areas.
*Condition: The overall condition of your home, including age, curb appeal, upgrades, and necessary repairs, will all play a factor in pricing your home.
*Size & Features: Square footage, number of bedrooms and bathrooms, unique features and upgrades/repairs you've recently completed will contribute to the determined value/listing price of your property.
*Comparable Market Analysis (CMA): I will conduct a thorough CMA to determine the value of your property. This involves analyzing the recent sales of similar homes in your area, and including the factors listed above.
*Your Input: Of course your personal goals and expectations are taken into consideration, and thoroughly discussed, so you feel more comfortable moving forward. I know the emotional and financial attachment you've formed with your property, and I will work closely with you to arrive at a competitive and suitable price that meets your goals!
The goal is to strike a balance between maximizing the profit and attracting the most qualified and interested buyers possible.
WHAT IF I DON'T WANT TO/PLAN TO MAKE ANY REPAIRS TO MY HOME?
The choice to make repairs is entirely up to you. I will share some options/information for you to consider:
*No Repairs/Selling "as-is" is when we mention in the MLS that you will not consider or complete any repairs. This tells buyers that the price is the price. While we cannot stop a buyer from conducting inspections and requesting repairs/credits, we can put them in the mindset that your property comes "as-is".
We can also negotiate repairs! You can agree to complete some, but not all, of the repairs requested. Or you can agree to only complete the repairs required by the appraisal. We will work to find a "happy medium" that makes you and the buyer(s) happy!
You can opt to give a credit/concession instead of completing a repair, or you can offer to pay a set amount of the cost of the repair directly to their chosen service provider. This is a very common choice for sellers, and we will establish an appropriate amount together to incentivize the buyer(s) to move forward despite needing some repairs.
HOW I CAN HELP:
I will advise you on the potential impact(s) of choosing to decline any and all repairs, only completing some, or giving concessions instead - based on the current market conditions. I will work with you to understand the specific repair requests, and we can prioritize them in order of importance! I'll guide you through the negotiations of repairs and/or concessions, help obtain estimates for repairs, and thoroughly discuss all options when the time comes!
The best approach will depend on YOUR circumstances and priorities. We'll discuss inspection reports in detail and explore your options to determine the best solution for you!
WHAT IS A "PRE-LISTING INSPECTION" AND DO I NEED ONE?
A pre-listing inspection is something I encourage sellers to consider because it can give you a significant advantage in the current market. Let's talk about it:
*Proactive approach to repairs needed: you'll be able to identify repairs/concerns with your home before it goes on the market, which gives you time to address the repairs needed on your own terms and helps you better control the timeline and cost of the sale!
*You'll build trust with buyers through transparency. You'll better understand your home's condition, and so will they! This minimizes fear and big surprises later in the transaction, and increases the likelihood that the buyer is "all-in" to get to the closing table with less risk of late term terminations.
*You'll receive stronger offers because buyers will know exactly what to expect when they buy your home. The risk of delay and/or last-minute issues is much smaller because we will ALL know what is going on before a purchase agreement is ever signed!
Think of it this way; by addressing potential issues pro-actively, you'll be presenting your home with it's best "foot forward". This allows more serious buyers to approach your home with stronger offers that allow us to feel more confident as we inch closer to the closing table. It can also reduce liability for you later on!
Let's discuss this option more so your questions can all get answered!
IS THE PROPOSED CLOSING DATE SET IN STONE?
We always aim to close on-time, but the date is flexible due to a number of factors! It's better to consider the date listed in an offer/purchase agreement as a "goal date" than a for sure.
Why?
*Loan approvals: Mortgage lenders sometimes encounter delays during underwriting, or require more time if the buyer is contingent on the sale of their home first.
* Title issues: Unforeseen problems with the title, solar company, HOA, etc can arise, so we may need to arrange an extension if this occurs!
*Inspections/appraisals: Some appraisals return "dependent on repair" or the buyer may have inspection repair/remedy requests to consider. These may lengthen the closing time frame, but not always.
*Gaps with communication: Sometimes, delays occur due to miscommunication between different parties involved in the transaction. We're all human, so we'll shift to accommodate and make the best of every situation.
I will keep you in the loop along the way, and promise transparency throughout the deal. I also do not advise scheduling movers, or changing utilities,etc, until we receive confirmation on a firm closing date!
We'll tenatively schedule things for a day or two AFTER the "goal date" to avoid issues, and do our best to all remain flexible when necessary!