Here are some thoughts for first time home/condo sellers or even things to review by people that have not sold in a long time. Have confidence by seeing some of the things we’ve learned in our experience that can get the best price and make it a smooth selling process.
Being a first-time Seller, or selling for the first time in a long time, there can be a LOT to consider.
Below you will see some concepts and things we think can be helpful to consider.
Know the Market
There can be several factors regarding market conditions to consider in an effort to ‘know the market.’
- Evaluate market conditions and supply of Buyers vs Sellers
- Try to compare similar size +/- 10%, and design style – zoom in on size if possible
- How many condos or homes have sold in the past 6-9 months, like yours
- How many condos or homes are there currently on the market
- Of the Active for sale now listings, how many have offers
experienced agents like ourselves are able to easily assemble this information – just ask
Talk with an Agent
Talk with friends, collegues, but be careful with this process – websites and friends, even friends that are agents in other locations, charge fees to ‘refer’ your business out. If you clicked on a link online to talk with a referring company, they are likely charging a fee to the agent that eventually makes contact with you. That fee paid by the agent can eat into the advertising dollars spent to achieve your goals!
Being able to trust an agent is not the same as knowing how much experience an agent has, but both are valid points. Be careful if talking with an agent that you don’t know. Make sure you know how long the person has been licensed in real estate. This is easy in the State of Wisconsin. The Department of Safety and Professional Services has a web page for all professional trades. The link is below and just click on the Health Business Individual Credential/License Search option. Fill in the last and first name, check that you are not a robot, and that should be enough to learn if the person is a broker or agent. If the name isn’t there, it can be an honest mistake like spelling, but it can be something else.
Hire an Experienced Agent
Trust is important, but just as one would be hiring the most experienced surgeon, today’s world brings experience that new agents just don’t have. Not everything can be prevented, but experienced agents know what to look for.
- Experienced agents have expertise. They are experienced because they’ve earned the trust of others. (check their years of experience in link above)
- Learn what would be best with how to present the home/stage
- Should the home be pre-inspected?
- Go over how showings occur
- What are you paying for with the commission – ask how the agent markets
- Go over your goals with the agent – learn from their experience