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CENTURY 21 Jeff Keller Realty

(706) 796-0106 | (800) 423-1292

Guide to Selling a Home

Real Estate 101

 

This may be the first time you've ever sold a real estate property. Or, it may have been
some time since you've been involved in a real estate transaction. Here's a quick refresher
on some of the real estate specific terms you'll want to review.


Real Estate Brokers and Real Estate Agents
Listing agreements are made between Real Estate Brokers and Sellers. A Real Estate Agent
or Sales Person works for the licensed real estate broker. The commission for the sale of your
home will be paid to the real estate broker. The real estate broker will pay a split of that
commission to me, the real estate agent.


The Fair Housing Act
The Fair Housing Act, originally passed in 1968 and amended in 1988 is a federal law in the
United States that prohibits discrimination in housing.
 
Seven "classes" are protected under the Fair Housing Act. They are:
• Race
• Color
• Religion
• National Origin
• Sex
• Handicap
• Familial Status
 

As we market and sell your property, it is illegal for us to use any words or phrases that would
be deemed discriminatory to these groups. You can learn more about The Fair Housing Act
at www.HUD.gov.

 

The Multiple Listing Service (MLS)
The Multiple Listing Service is a proprietary database of all properties currently under an active listing contract in a given area.
 
All active agents and brokers who belong to this MLS will have access to information about your property listing. Buyer's agents searching for a new home for their clients will learn about your property listing through this online database.
 

Appraisal
Before you sign your listing contract with an agent, you should be offered a competitive market analysis of your home's value. You should set the final asking price on your property based on this market value estimate.
 
When you receive an offer on your home, the buyer's lender will require an official appraisal of the property from a licensed appraiser. This valuation helps assure the lender that they would own a marketable property if the buyer (or the borrower in the lender's eyes) should default on their mortgage. The buyer will pay for the house appraisal, but you should know that it may be different
than the market analysis that your agent provided you.
 

Inspection
In addition to an official appraisal, most interested buyers will request a home inspection before final sale. The goal of a home inspection is to give the buyer an objective, independent and comprehensive analysis of the physical condition of your property and check for any safety issues that might otherwise be unknowable. A professional inspector will check on the structure, construction and mechanical systems of the house.

  

Showing Appointments / Open Houses
Buyers in the market for a new home will arrange showing appointments to see your property through their buyer's agent or through your agent. When an interested buyer is scheduled to see your property, it's best if you, your family and any pets you may own are not at home.
 
Buying a new home is a very emotional process, and it's sometimes hard for prospective home owners to imagine themselves living in a particular place when the current resident is still inside. Your agent will work with you and the other real estate professionals who will be showing your home to schedule and supervise the many listing appointments that will be made when your house goes on the market.
 
Additionally, your agent may ask that they have an Open House at your property. Open Houses are usually most effective on the weekends during several hours in the afternoon.
 
These home showings will most likely be an inconvenience for you and your family during the home selling process. An aggressive showing schedule will help us sell your property quickly, which is your ultimate goal.

 
Home Staging
According to the Real Estate Staging Association, a properly staged home can:

 

• Increase a property's perceived value
• Help a listing's competitiveness in a down real estate market
• Drastically reduce the Days on Market (DOM) of a property
 

In fact, their 2010 study on both vacant and occupied homes showed that staged properties spent 67% less time on the market than non-staged properties.
 
Home staging is designed to market and sell your home in a way that's appealing to the largest buyer audience possible. Staging uses simple design principles, and may radically alter the way that your home is arranged and decorated.
 
It is possible to stage both a vacant and owner-occupied property. Before activating your listing, we should discuss the benefits and requirements of professionally staging your home for sale.

  

Questions or Concerns?  Contact us today for a free, professional consultation.

 

 

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