Seller FAQs

Answers to your Seller Questions

Seller FAQs Header Image

Q:  How do I decide to sell my house?

A:  If there is no urgent need to sell, the narrower in time between setting the listing price, and when the Buyer determines the true market value, the sooner an offer will come in at or near the listing price.  However, if you are under more urgent time constraints to sell, this can put more pressure on you to sell your house for true market value.  I will be happy to provide a report I call “Odds of Selling” based on market activity in your neighborhood.   Click here and I will call you to schedule a consultation.

Q:  How does my house compare to others in my area?

A:  As a real estate professional, I have access to details about currently listed and sold properties through the Multiple Listing Service (MLS), and other professional services that are not available to the public.  I will be able to see how much competition there is for your proposed listing price range, and what effects market conditions have in your area.  You then will be able to determine your best listing price by analyzing homes comparable to yours in age, size, condition and location.

Q:  What are buyers willing to offer?

A:  Buyers determine the value of your house, not appraisers or you as the Seller.  Buyers make their assessments by comparing your property with others that offer similar features and are in a similar age and condition as yours.

Q:  How much will it cost me to sell my house?

A:  Your costs include commissions to be paid to the licensed real estate agents involved in the sale.  Additionally your costs include other non-commissioned fees related to the sale that the Seller is required to pay.  Your net proceeds will be the selling price minus all sales-related commissions and fees that are paid by you.The standard real estate brokerage commission to be paid by the Seller is 6% of the selling price.  This commission is shared between me, as your agent, and the agent for the Buyer.  All expenses incurred by me for the marketing and selling of your house will by paid by me out of my commission.Other fees paid by the Seller are fixed transactional costs, which should total less than 1% of the selling price.  So, as an estimate of maximum selling costs, budget on a total of 7% of selling price.

Q:  How much is my house worth?

A:  The “worth” or true market value of your house will be determined by comparable houses in your market at this time.  Ultimately what your house is worth will be determined only by what the Buyer will be willing to pay.  Listing price is determined by the Seller – worth, or value, is determined by the Buyer.

Q:  Is the listing agent legally obligated to present  a copy of the written offer to client?

A:  By law the listing agent is required to present all written offers to the Seller even after another offer has been accepted.  The only exception, which is not commonly done, would be if the listing agent had written instructions from the Seller to only present offers that meet certain criteria.

Q:  If there are no "comps", how do I sell my house?

A:  You might have a unique and rare property, which has no comps available.  In such case, consider getting an appraisal.  An experienced appraiser can do an appraisal with no comps based on square footage, features etc., and also on your current zoning.