Brokers Blog

Selling a home may be a nightmare if you do it without proper preparations. But with the help of a real estate broker, your home may be out in the market in no time.

After meeting up with a trusted real estate broker, they will tell you to do the following accordingly:

1. Have a CMA or a Comparative Market Analysis report.

   A CMA report can help estimate how your home might be worth based on the average price of the properties within a mile radius. If you know how a home for sale is priced within the range of your neighborhood, your home can compete in the market. Overpricing can put your home at risk of staying in the market for a long time.

2. Prepare the home.

   Remember: First impressions last. Homebuyers will not bother asking about a shabby house. And during home surveys done by interested homebuyers, the amount of repair needed for the house affects the negotiating process — more repairs means bigger demand for a discount.

   Start with the basic cleaning, remove unattractive sights in the house. Consider plastering, re-painting the walls and the exterior, sanding the worn-out floor or buy a new carpet, or re-touching the landscape. Then if really needed, have a new roof, do some bath and kitchen remodeling, or electrical and plumbing updates. You may also consider sod replacement, to make your house homier.

3. Have your real estate broker do the advertising.

   Even with a 3 to 6 percent commission added for a real estate broker’s advertising services, think of the other things they can spare you from: the tedious effort to sell your home. Real estate brokers can do all the advertising for you through the papers, the internet, through open houses and other useful campaigns.

Knowing these steps can make your sale smoother, but some transactions can hit some bumps too. The buyer may have financing issues, or questions and request during the home inspection. But to prevent this, be prepared and purchase a home warranty for the buyer’s use or try offering them a repair credit. This can attract more potential buyers.

Selling a property is not as easy as it looks. You must do the necessary preparations and listen to your real estate broker. Do necessary touch ups, price appropriately and entrust the advertising to your home broker.

Related Posts:

• A Property Showing Planning Guide for Real Estate Brokers
• Practical Advertising Fundamentals for Real Estate Brokers

The United States Department of Justice recently settled a lawsuit against Consolidated Multiple Listing Service Inc. According to the lawsuit, the real estate broker listing service illegally stifled their competition, and also prevented fees to go down for home buyers and sellers. This has led to a call to change on how a real estate broker should deal with a client, whether he is a home seller or a buyer.

This settlement goes to a public comment, prior to the approval of the judge. According to Christine A. Varney, the agreement is set to remove unlawful activities and impediments that real estate brokers do to prevent competition. This is now expected to give clients to find lower priced real estate brokers and firms which can help and assist them with their needs.

According to information released by the Department of Justice, a real estate broker was not able to operate from other locations such as their home offices. Also, they had to pay an initiation fee worth $5,000. This is more than the regular fee that a real estate broker should pay.

The agreement was released, as the National Association of Realtors released their sales report of houses which were previously occupied. The data shows that homes were selling faster, and that money spent for construction were increasing, instead of the decline that experts were predicting.

This settlement now forces new changes. For example, the listing service should allow any real estate broker to be a member, and not to base it on business models. Also, it should repeal rules that would enable home sellers to select the services that a real estate broker would perform, so that they can save money in expenses that they do not really need. This would also require the single contract form to be removed.

This settlement can be reviewed and enforced by the Justice Department for a span of ten years. A real estate broker and the residents in the area concerned are expected to benefit from this settlement. More and more people are now becoming aware of the situation in the real estate industry. All concerns can now be addressed properly, so that everyone can get the service that they need.

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• Discount Home Brokers Can Now Access South Carolina Market
• Traditional Real Estate Brokers VS Online Brokerages

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