Frequently Asked Questions!
Cold, Hard, Facts in Real Estate Home Selling!

Honesty in Real Estate – The Cold, Hard Truths

We believe honesty is always the best policy, and we will always tell you like it is. If you want to have the best chance of success in selling your home, for the highest price, in the shortest period of time, Better Homes Realty has the experienced professionals to get you results.

Click on the questions below, for answers and recommendations!.

1. How do I determine what the current condition market is?

Know your local real estate market. What prices are homes being sold for? How fast are homes selling? What are the average days on the market (DOM)? What is the current inventory level in this community? What type of market is it (Buyer’s, Seller’s, or Balanced)? Where is the market headed? What benefits or disadvantages does this city or community hold? Are homes in this area appreciating, and at what average rate? What is the resale value or school Ratings? All these are important questions to know about in the local market where you want to sell a home. This information is vital to making an informed decision. Real estate will always be locally focused, and to be able to sell your home it is critical to know what the local trends are for your neighborhood. Our skilled real estate agents know the local markets and can advise you about the pros, cons, benefits, and drawbacks for evaluating different options in the marketing of your home, and to effectuate the best price and highest return.

2. What about the Showing Condition?

A clean and uncluttered home sells more quickly than a dirty home, which could knock thousands of dollars off of your profit. A big chunk of money can be lost for not putting in a little extra effort. One of the greatest payoffs to home selling will be the time you spend cleaning and decluttering your home.

3. What about Pricing my home?

Price your home to sell. From the very first day that you list your home for sale you will want to attract the most qualified and most interested buyers. A home’s list price is so important. Together we will look at all the factors that can affect selling your home, and how and why your home’s initial list price gets your home sold.

Keep in mind that many real estate agents who seek your listing may have a tendency to increase and “Auction” up the listing price, hoping that they can convince you to list with them. They know you want the highest price, so they tell you what you want to hear. Unfortunately, many agents are interested in getting the listing, but may not be totally honest.

The first few weeks of marketing a new home shine the brightest and draws the attention of buyers waiting for a new home to hit the market. If they see your home priced correctly they will break down your front door to take a closer look. A listing that stagnates on the market for weeks and months becomes stale and may cause buyers or other agents to wonder why the home hasn’t sold. They will either assume that something is wrong with the home, or that it’s priced too high, and they may want a discount. If the home has been on the market due to being priced too high, buyers may assume you could soon get desperate to sell and that you may consider taking a discount. By pricing the home correctly from the beginning you can avoid the discounts and increase your chances of having multiple interested buyers. Our agents are marketing specialists who are trained to market homes, and not to just list them and hope someone else in MLS will sell it. At Better Homes Realty we focus on getting your home maximum exposure for maximum results.

4. How inconvenient is it to sell a home?

Knowing up front that you’re going to be inconvenienced during the sales process will make the home selling process a lot easier to handle. You’re going to have to do a lot of packing to get your home ready to sell. Your normal everyday schedules will likely be interrupted by visiting prospective buyers. Buyers don’t schedule viewing when it is convenient for you, and they usually schedule multiple showings on the same day. If you’re able to anticipate this it can make the process a lot less painful. You should always expect to be inconvenienced.

5. What about Repairs needed?

Repairs left undone can cost you more money than the repair itself, as they can be a lot less expensive to complete if you do them before you sell your home. Once the needed repair is evident to a buyer they’re going to pad the actual cost to repair as they’re adding a layer of emotion to the projected cost. When they see a simple repair that could have been fixed they wonder what else is in need of repair, and they may wonder if the home was properly maintained. They will wonder what may be lurking beneath the surface, hidden and not visible to the naked eye.

6. What impact does “Overpricing” have in marketing my home?

If your home is overpriced it will most likely only help sell your neighbor’s home. Buyers are qualified to buy in a certain price range, so they’re looking at homes that they can afford in that range. Your competition is your neighbor’s home in your neighborhood and other similar communities. If your home is priced too high they may never see it, as it will not come up in the home search targeted to their price range. Your home will be coming up in a higher price range, likely with homes that are larger and include nicer features and are more appealing. If priced in a higher range buyers may look at your home but will skip it because they can buy a larger home, possibly with some nicer features, for the same amount of money. Why would anyone pay more for less space, or fewer features and amenities?

7. Will Buyers renegotiate after the Home Inspection?

In short, yes. Now is their time to nickel and dime for all the needed repairs. In an Inspection report there may be dozens of little things listed. Hopefully, you aren’t blind sided with an unknown major needed repair. If you have any needed major repairs they should be disclosed to prospective buyers prior to the presentation of their offer, so you know that the offer reflects the defect. Fix your repairs prior to listing your home for sale to prevent a buyer asking for a discount.

The inspection period will always welcome a skilled negotiator. Make sure the Realtor you hired is an effective negotiator. At Better Homes Realty we are trained specialists in negotiations to benefit you.

8. Should Sellers be present during home showings?

When a buyer has scheduled a showing to view your home it’s important for you to leave for several reasons. First, you want the buyers to be able to stroll through your home and feel comfortable without them perceiving you as breathing down their necks. You want them to envision themselves living in your home, picturing themselves in your kitchen or around the dinner table, or relaxing in the family room listening to their favorite music or watching their favorite shows. Ideally they are imagining your home to be the perfect spot to entertain friends and family. Second, you don’t want them to try to extract any details from you regarding why you’re moving, as that could give them a reason to offer you less money for your home. A favorite tactic for buyers and their agents is to try and find out valuable details that indicate you need to move. Lastly, turn off the cameras. If a buyer senses that you might be listening in they may not focus on the home. Instead, they will not interact verbally with one another and may resent the intrusion of their privacy.

9. What if my home smells?

Smelly homes usually sell for less money. Nothing is worse than a smelly home from pets, smoking, or cooking. We love our pets, but they can leave behind those not-so-pleasant smells. If you’re a smoker you need to plan well in advance and take your smoking outside to freshen up your home’s interior. Perhaps you adore foods with very pungent spices. These favorite dishes should be put on hold until after you sell your home and move out. A thorough cleaning of your home, including the fabrics, rugs, and carpets, will go a long way in removing these odors. If you have carpeting where pets have had accidents, replacing the carpet would be advised. Many hotels plug in ozone filters that clean and filter the air of odors. Consider renting one before your home is put on the market.

10. Is a cash offer the best offer?

Cash is usually king, but not always. Many all-cash buyers make lower offers because they think “Cash is King.” Many times financed offers will produce a higher net profit for sellers. When financing buyers may have to compete with cash buyers they need to make their offer look very appealing to beat out the cash offers, by making sure their offer is accurate and complete. A purchase contract has many different time frames, and your Realtor should make sure the buyer will be quick in adhering to these important time frames.

11. Do well-maintained homes sell for more money?

A well maintained home provides a sense of well-being to any prospective buyer. They feel that the home has been well cared for, and will not provide them with too many worries down the road. Red flags are virtually non-existent with a well-maintained home, as compared to a home that appears to not have been maintained. This peace of mind usually results in a buyer’s willingness to pay more for a well-maintained home.

12. How does communication affect selling my home?

Once the decision has been made to sell your home it is critical for your communications to be prompt and timely. If you are notified of a possible showing move quickly to make sure everything is ready, lights are turned on, blinds are open, and the home is clean and uncluttered. Remember that showings are always inconvenient, so you must expect to be inconvenienced. Ignoring your Realtor’s requests for answers to questions from prospective buyers may jeopardize a possible sale. Responding to contract negotiations in a timely manner is essential. Time is of the essence. Do not delay in approving and signing a contract change or update. Be available, prompt, and courteous when selling a home.

13. What does it mean to “Neutralize” my home?

Buyers must envision themselves living in your home, and this involves taking the “you” out of your home. When you decide to sell your home it is important to realize that your home now needs to feel like it could welcome anybody, and to suit their own family. Begin packing before you list your home for sale, and remove all the memories and knick knacks on display. Neutrality must now be present in your home. Most employers who hire a third party relocation company will even repaint the interior of a home and replace the carpet with neutral colors, in hopes of providing a blank canvas for buyers to envision themselves and their furniture in the home without distractions.

What you love isn’t necessarily what a prospective buyer may love. Neutralize your home of your passion for purple or your bold reds, or mounted hunting treasures or your school sports trophies. Do not give a buyer a reason to find distractions in what you like. Selling your home is not the time to show the world your interests and hobbies. You want to show how the buyer could fill their potential new home with what makes them tick. Buyers need to picture themselves in the home so it will be easy for them to buy your home and build their own dreams. Give the buyers as much of a blank canvas as possible in order to visualize their family in your home for years to come.

14. Do better photographs and videos sell homes at higher prices?

Yes, high quality photographs and videos do matter. Over 90% of buyers start their home search online, so they want to see homes first before they read about the details. They want to see high quality photos and videos, and poor quality photos will have buyers snubbing their noses at your home. If you ever had your home listed for sale and you didn’t get any offers, buyers probably skipped over your listing due to limited or poor quality photos. Many homes online and in MLS are amateurish and taken with cell phones, with poor lighting and quality. We highly and strongly recommend using a Realtor who will engage the services of an experienced Home Photographer. At Better Homes Realty we hire the best Photographers and Videographers in the business, who will enhance the beauty of your home and showcase it, making it stand out above all the rest. Even optional Drone Photography is available and can enhance the experience of your home even more.

15. Do Sellers have to Divulge Defects?

Trying to hide a defect may haunt you. You never want to get a call from an Attorney indicating that your buyer is now suing you for not disclosing a structural issue that you were aware of. You may have thought you could keep an issue to yourself so you can sell your home for more money. Many states warn, “Buyer Beware”! Being slapped with a lawsuit is never welcome news. Some courts have upheld that, “neither the Seller nor the Seller’s agents, unless asked, are required to disclose defects, except those which might pose an “immediate health or safety risk” to the buyers.” While Sellers and their agents must not misrepresent conditions they are asked about, it’s always better to speak the truth and fully disclose issues up front. A trained Realtor should have industry connections to help you alleviate issues involving repairs or defects that need to be addressed. There is a solution for every problem. Work with a trained Realtor to review options, because they may not be as bad or costly as you think. At Better Homes Realty we have a staff in charge of renovations, upgrades, and construction projects. They can be a vital resource to help solve problems at reasonable prices.

16. Should I accept the Buyer’s offer, or negotiate?

The overall price and general terms are the most important factors of any offer. Cooperation between the buyer and seller continues to be the name of the game to find common ground. During negotiations involving a home sale or Inspection Repair request, a little bit of cooperation will go a long way, and quite often, ends with a favorable outcome for a home Seller. Don’t fight the buyer on every item as they may withdraw altogether, and then everyone loses. A little give and take, more often than not, can result in superior results. Focus on the major items that are important to you. A highly skilled real estate professional should be able to lead and guide you through the process, so you can accomplish your selling goals, at the highest price possible, under the most favorable terms.

17. Is the Closing date also the move-out or possession date?

It’s important to understand that by the closing date all of your belongings should be packed up and moved out of the home, leaving behind a clean home ready for the buyers to move into after the closing. Unfortunately, you won’t be able to stay a few days after closing to finish packing or moving, or finding a new place to stay.

Staying after the closing date increases risk to you and your family. Something could go wrong or get damaged while the home is in your possession, and this could lead to possible legal claims. Ultimately it’s not worth the risk to stay in the home that you no longer own.

18. Does a Buyer need to meet financing eligibility requirements before showing?

Real estate agents shouldn’t even be showing buyers your home unless they know the buyer’s credit, income, and assets have been reviewed by a qualified lender to make sure they can afford to buy your home. Unfortunately, not all real estate agents adhere to this common-sense business practice. Make sure the real estate agent that you hire scrutinizes any incoming offer for the buyer’s ability to actually be able to pay for your home. Every offer should be accompanied by a strong pre-approval letter. Also, cash offers should include copies of current bank statements (without private account info), or “Proof of Funds” (POF), ensuring that they have the ability to close.

19. What is involved in “Staging” and “Prepping” a home to sell?

This is a huge opportunity that can potentially increase the price and value of your home by thousands of dollars. It will also enhance your saleability, creating a quicker sale for a higher amount. It involves a lot of work to prep and stage your home for sale, but the rewards are immeasurable!

• 1. Declutter: If you aren’t going to take it with you then get rid of it. Consider donating or selling it. This includes everything in your home that you are not planning to keep, such as clothing, furniture, household decor, dishes, toys, garden equipment, etc.

• 2. Store it: Take at least half of what’s left that you plan to keep and pack that up, and move that to a storage unit. Remove everything possible that you don’t need to use while you still live in the home. The theory here is that you want the buyer to feel like they’re in a home that’s larger than it actually is. For example, we want buyers to feel like they are in a 2,000-sf home, instead of a 1,500-sf home; or to feel like they are in a 3,500-sf home, instead of the actual size of 3,000 sf. The home needs to feel bigger, roomier and spacious, regardless of its actual size.

• 3. The Kitchen: The Kitchen is one of the two major focal points for practically every buyer, the other being the master ensuite. Why is it that buyers often walk into a kitchen and open up cabinets at random? Are they actually looking for storage? Not usually. It seems to be a habit of most buyers to open everything. Remove all out-of-season and special occasion dishes. Pack up and remove as many dishes, pots and pans, and small appliances as possible. Remove everything that you don’t need to cook with and feed your family. Opening up neat and spacious cabinets sends subliminal messages that the kitchen has lots of room and great storage.

• 4. The Closets: It doesn’t matter how many closets you have, buyers will still open the closets and look inside, and most are full and cluttered. If possible, remove everything on the shelves and on the floors. Remove as many clothes, shoes, hats, and purses as possible. Pack them and store them. If you can’t slip your hand between each hanger then more clothes need to be removed. Again, opening closets that are neat, organized, and spacious sends a message that there is plenty of storage. Limited closet space does not need to be a deterrent from buying the home if decluttered and organized properly.

• 5. Bathrooms: Declutter and remove as much as possible. Put your toiletries in a storage container that can be kept under the sink when not being used. Throw away bath or beauty products that are no longer being used.

• 6. Cleaning and Painting: Clean floors, carpet, light fixtures, fans, garage, basement, etc. Consider touching up or repainting a room if necessary. Try to keep everything spotless during showings with no distractions.

• 7. Showings: Keep all lights on, with fans on low, and blinds and curtains open. Keep everything off of kitchen and bathroom countertops, and keep shower curtains open, with tubs and showers clean. Make sure the yard is neatly trimmed and clean. If possible, consider baking some cookies for an open house or before several showings on opening day. The fresh baked smell of cookies or bread is proven to be inviting and enhances the experience. Some sellers have even heated up a small pan of water with cinnamon or nutmeg prior to showings in lieu of cooking. Have some small cool water bottles available.

• 8. Interior Design: At Better Homes Realty we have one of the top Interior Designers in the Birmingham Area on retainer. She may be available for additional consultation regarding staging and prepping the home for sale. If additional furniture, decorating, or design is needed to enhance the home, she will make those recommendations.

20. Who do I hire to market my home?

Experience sells, and at Better Homes Realty we have over fifty years of experience, service and results. Hiring a skilled, trusted, and trained real estate professional gets homes sold in the shortest period of time and for the highest price possible. Selling a home is one of life’s most important events, don’t trust it to just anyone. Do your homework and choose your Realtor wisely. Ask yourself if they are skilled, trained, and knowledgeable. Are they service motivated and more interested in helping and representing you and your interests, and willing to sacrifice their time and talent on your behalf? Do they counsel, consult, listen to you, and protect your interests? Are they good negotiators?

We don’t just list homes, we market them!

Choosing a friend, neighbor, or spouse of a co-worker may not be in your best interest. Many agents swim in a “Sea of Mediocrity” and are not fully trained in the nuances of marketing and negotiations. They list homes in MLS and hope someone else will sell them. It could cost you thousands of dollars in lost opportunity by choosing a friend or neighbor over a highly skilled marketing specialist. Our homes are marketed all over the USA on 87 different websites, far beyond just Zillow and Realtor.com. We have marketed thousands of homes, and won numerous local, regional and national marketing awards. Our agents are highly trained and skilled marketing specialists. Please call for a free, no obligation consultation!

If you found these FAQs helpful, please don’t keep it all to yourself, but share with others who could benefit in the home selling process. And thank you, if you decide to share!