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The Home Listing Agreement From A- Z

Tuesday, May 22nd, 2012

As a seller you will be required to sign a listing agreement with your agent. A listing agreement is basically an agreement where the seller signs an agreement with a broker/agent for the agent to sell their home for them.

There may or may not be limits put upon the seller as to how much the seller can do or is expected to do when it comes to the sale of their home.

This contract is generally required by law and can vary from state to state; however there are generally some common styles that are utilized most often.

There are actually three typical types of Agreements that can be signed; although there are many others out there that are similar to these three main styles but have their own individual additions or omissions.

Listing agreements are meant to benefit both the seller and the agent; although in most cases it is to benefit the agent for the work they will be putting into the sale of your home. Nobody likes to work for free and a listing agreement helps an agent/broker assure that their hard work will pay off when the home sells. These agreements can also vary according to state laws but in general the most typical styles are what are covered in this article.

Exclusive Agency Listing, Open Listing, and the Exclusive Right to Sell Listing are the three typical types of listing agreements that most agents will offer. Each choice depends upon what you are willing to do as work for yourself and what you expect from your agent.

Some agents and/or agencies will offer only one standard agreement or two; while other agencies could offer you more or less and even different types. Your choice should also depend upon what your particular area is experiencing locally as a real estate market as a whole.

Exclusive Agency Listing

This type of listing agreement is probably one of the most commonly utilized agreements in the business with some different variations in how the agreement is written up and what is included. The exclusive agency listing and the open listing are quite similar except in the case of the exclusive agency listing a broker represents the owner.

The owner may sell their own property if they can on their own and not pay a commission and the broker is free to work with other brokers in order to bring in buyers to make offers on the home. If the broker alone sells the home then the broker gets paid a listing commission; however if another broker brings the buying party in then the commission is shared with the selling broker.

In either case the commission is paid by the seller but it is one common commission that is split between the two agents if there are two involved. This type of agreement is also the best one for the seller because the seller is represented at all times from the very beginning to the very end of the sale unless the seller sells the home themselves and then in some instances these the agent is not obligated to represent them fully, depending upon the agreement.

Open Listing

An open listing agreement is an agreement that allows the owner to sell their own home and is not an exclusive agreement; whereas the owner can list with various brokers and pay only the broker that actually sells the home. With an open listing the biggest difference from the other agreements is that the seller actually only pays the agent who sells the home and not the agent that represents the seller. If the seller sells their own home they pay no commission because they utilized no agent.

There are dangers with this type of agreement and this could be a case of “it sounds so good to be true” because you could literally end up listing but with your own leg work end up paying no commissions. While this sounds wonderful it also comes with some issues, such as you have no representation or guidance should you be the person who sells your home.

It also requires you to do a lot more work and most people simply do not want to put in the hours it takes to utilize an open listing. Some agents may not offer this type of listing either as they are taking a chance on doing a lot of work and ending up with no commission.

Exclusive Right to Sell Listing

This is probably the other most commonly utilized type of listing available. In this case your broker has exclusive right to earn a commission representing the seller and bringing in and representing the buyer. In this case the broker must provide what is best and most fair for each party and generally will make it so there is nobody who underpays or overpays.

The seller cannot sell the home themselves unless there are exceptions written into the contract. The seller pays both the buyer’s agent fees and the sellers agent s fees because the agent is one in the same. This is probably one of the other most common types of listing agreements offered.

Call me to talk about how we work in New Bern NC.

How we Use Technology to Sell your Home

Tuesday, March 27th, 2012

Once upon a time Realtors would come to your house, you would sign contracts for them to sell your home and then they’d proudly go to the front of your lawn and place a “FOR SALE” sign in front.

They would go back to the office and place it on the MLS (Multi Listing Service) for all the other Realtors and agents out there to know there was a new place available.

Then you would wait until either the right agent pulled the listing up for their buyer or someone would drive by and instantly fall in love with your home.

Thank goodness those are days gone by. Today’s technology has brought marketing your home to a whole new level giving you a much better chance to sell. There are possibilities, both old and new, that can be used to market your home and if your Realtor isn’t utilizing some of these, ask them why or if they could possibly do so. To be honest, if your agent is worth their weight they’re either already using at least most of these techniques or beginning to implement them into their marketing techniques. This is the marketing of today’s Real Estate world.

Online Techniques

The TNT (Tried ‘n True) Techniques – this is the typical marketing techniques we’ve grown up with. Putting your sign in your yard, listing on the MLS, putting ads in newspapers or local Home Catalogs are all the “old fashioned” way that Realtors listed homes. There’s nothing wrong with using the old ways because they can and do still work; but you have to make sure you utilize them along with the new age technique.

Social Media Marketing – Your agent should utilize their own business versions of each of the different Social Medias. These medias include Facebook, Twitter, LinkedIn, YouTube, Google+ and any other of the up and coming medias you see out there on the internet. How do they utilize these medias to sell your home?

Facebook – is the largest by far and should be the first place the marketing campaign starts! First by listing pictures of your house; begin with Facebook where your home gets tagged with your names so your friends and connections see that your home is for sale and their friends, etc. By listing on Facebook their own business friends, other agents, customers, potential buyers, etc. will see the listing also.

Next is Twitter – Posting a short Tweet with a link to their “newest listing” (your home) with a few quick comments. They can also post often with a link to their site which should list all of the homes they are currently listing, including yours.

On YouTube – they can post everything from a PowerPoint type of presentation to a virtual walk-through tour of your house or an introduction to their own website telling about the many homes they have.

On LinkedIn – the Realtor is generally linked with other agents and this will allow those who are connected outside of their own Brokerage Firm to know they have a new listing. There are others listed as their connections also that will see the listing.

The Agency or Realtor’s website – should be very professional and specialize in showing all of their listings in a highly professional way. A virtual tour, not a click as you walk through style of tour, which gives you a 3-dimensional view of the homes they’re listing.

Google+ – is the new kid on the block and many agents won’t be listed here yet. It’s growing in size and hoping to take over as “the new Facebook” but isn’t even close yet. The G+ site should allow not only for pictures but they have a system where other people on Google can give it a “plus” and rate it so everyone can see the higher rated items.

Other Technologies

QR Codes are not all that new as marketing techniques and if you’ve owned a Smart Phone you know what they are. There are special apps that you can download and when you scan the QR Code, which looks like a block of black & white boxes, information about that product comes up. Realtors are now utilizing these QR Codes directly on the signs of homes, on any articles or print information about homes they’re listing and anywhere they can place them. An interested consumer clicks their phone and takes a picture using the QR Code app which will then automatically take them to the mobile designed web page and can even give you a pop up which allows you to hit “Call Now” and reach the listing agent or their agency.

Email newsletters are another way many agencies and Realtors will keep in contact with their current and former clients. In these newsletters they can list their newest listings along with some interesting articles about real estate itself; whether it be trends or do-it-yourself articles. Delivering a note to potential buyers with pictures and links automatically allows the buyer to not only look at the information themselves but also perhaps share it with a friend that they know is looking for a home in your particular area or price range.

Marketing Is Continuously Changing

The marketing industry is continuously changing for every product line out there and real estate is a product line. Your agent should always be on top of the ever changing marketing techniques out there and even ahead of the crowd when it comes to developing their own techniques to showcase your house. Open houses do work but there are so many other ways to get the word out there that your home is for sale and on the market. Showcasing it in different ways that grab the attention of the buyer is always a plus. What it comes down to is making sure your agent not only knows and uses these techniques but keeps up on the newest techniques or discovers their own techniques as time goes on. In the end you want your home to sell and sell quickly!

3 Truths About The Real Estate Shift, Sellers Need To Know

Monday, August 25th, 2008

Dear Mr. and Mrs. Seller,

The Real Estate Market has shifted and you need to be aware of this shift. Do not listen to the propaganda that the media is distributing, but do listen to your local Real Estate expert. Real Estate is a local market not a global one!

1. In New Bern NC, It is not 2005 and homes are not flying off of the shelf but they are still selling.

2. If you do not have to sell or are not motivated to sell, don’t.

3. The homes that are selling are the most beautiful ones and the ones that are priced right.  

5 Known Facts About Selling U’R Home in New Bern

Thursday, June 19th, 2008

1. Make Your Home Beautiful: The Top 30% of the most beautiful homes sell, therefore clean everything, make your home sparkle. Stage your home with a professional stager. Look at your home with the eyes of a buyer, would you buy your home again?

2. The Bottom 30% Rule: The homes that are selling are priced in the bottom 30% of their square footage category.

3. If it is Broken, They Will Find It: Sure you can get by with doing the least amount to your home but it will only hurt you in the end. Most buyers will get a home inspection and the problems will be discovered so find it and fix it first.

4. Just because you think your home is worth it, does not make it so: Pay attention to the numbers your agent gives you, what has sold, pended, and what is currently active in your neighborhood. These numbers will tell you the true value of your home.

5. Keep the Faith: It does take longer now to sell your home so be patient and listen to the people you have hired.

Don’t Sell Your Home in New Bern or Havelock Until You Do These 5 Things

Wednesday, May 21st, 2008

 If you are about to sell you home in the New Bern or Havelock  Market then here are some deal saving tips to consider:

  1. Get estimates from a reliable repair person on items that look like they would need to be replaced. For example a roof or worn carpeting. This way, buyers will have a better sense of how much these needed repairs will effect their cost.                                                                                                  
  1. Have a termite inspection done  to make sure that this will not be the problem keeping your from selling your home.
  1. Get a pre-sale home inspection so that you’ll be able to make repairs before buyers become concerned and cancel a contract.
  1. Find and leave out warranties and guarantees on the furnace, appliances, and other items that will remain with the house. 
  2. Consult a Home Staging professional on ways to present your home in the best possible light.

 

Staging, Is it A Fact or Fiction?

Tuesday, April 22nd, 2008

Home Staging Helped During the Parade of Homes in New Bern NC this weekend,

I saw may people and asked them what they thought of the staged home that I was sitting in. Many thought that it was very well done and some even thought that someone actually lived in the home.

There is not a lot of furniture, appliances or even pictures on the wall but it definitely stool out among those that were not staged.

I also think that because it was staged that it helped when it came to the judging of the home itself.

Barb Schwarz says on her website that 93% of ASP staged homes sell on average in 1 month or less
AND
“Your Investment in ASP Home Staging will always be less than your first Price Reduction”
Barb Schwarz, The Creator of Home Staging

Remember, people can not buy what they can not see!

What Everybody Ought to Know About Home Staging

Friday, February 1st, 2008

Master BedroomI had been hearing for quiet some time about this concept of staging the home that you have listed.

I have seen presentations by professional Home Stagers and by New Bern NC Real Estate agents that have taken a 2 day certification. I thought that this was a good idea but was not 100% convinced that it indeed helped to sell a home until I saw a home before and after it was staged.Quote

If home owners and agents will just do some investigation on this subject, they will find that it is money well spent. I was so convinced that it would work, I had 2 of my listings staged. Not more than a few weeks went by and we received an offer on one of my homes. The issue is that no one including Real Estate Agents can visualize what a room would look like when a home is vacant. They need that visual help from furniture. Even if a home is not vacant, if you can not place your furniture in a home, you will not buy it. If a home is staged correctly then all anyone would need to do is place their furniture and items in the places where the stager has arranged.

For example, the stager would set up the dinning room as if someone was expecting a guest. With the dining room set up it would be easy to be able to place your own belongings.

Go see 101 Roxboro Ct New Bern NC in person or on-line at NcPropertiesonline.com, and you decide.

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