The Top 10 Seller FAQ’s I Receive As A Real Estate Agent
Making the decision to sell your home is a BIG deal and it involves a lot of steps along the way.
If you’ve never navigated the process before it can definitely feel overwhelming and sometimes even a little confusing.
That’s why as your friend in real estate, I created a Seller’s Series on the blog to help you know exactly what steps to take from start to finish.
When I say I’m here to help every step of the way, I really do mean it.
From the FIRST steps to take before you list your home, to showings and open houses, to under contract, and clear to close, I’ve got you covered.
As I wrap up this series (for now – there’s always more where this came from!), I wanted to list some of the most frequently asked questions that sellers have all in one place, so that in case you’re wondering them too, you can easily find your answer or be pointed in the right direction!
And if your question isn’t covered in this blog post, shoot me a DM here! I’m always happy to chat and help you specifically.
For now, let’s get into the Seller FAQ’s that I find myself answering the most. ⬇️
The Top 10 Questions People Ask When Selling Their Home
1. I want to sell my home! What do I need to do FIRST?
When I first connect with clients who are interested in selling their home, we all start in the same place… and that is market analysis. And if you aren’t familiar with what that means, it’s really just a fancy way of saying that we establish your price.
Because often when selling, the first question you have is, “what should I list my home for?”
A market analysis helps you answer that question and it isn't done by guessing!
Instead, it’s done by calculating adjustments between your home and the homes that have recently sold in your area. The adjustment amounts have been created using local data from our local appraisers, so you can know that you will be getting the most current market value for your home.
This step is super important so that we can list your home competitively, but also in a way that will attract buyers who are serious.
If we price too low, you run the risk of leaving money on the table. If we price too high, you run the risk of having your home stay on the market for more days than you’d like and you’ll likely end up cutting the price of your home throughout the process.
I ultimately want you to price it right from the very beginning, so that you can experience a win/win situation – you end up with a sale price that you’re happy with and buyers experience a fair trade as well.
To get your market analysis rolling, it’s wise to connect with a trusted, local realtor for a seller’s consultation where your agent can provide information and guidance on the selling process, the current real estate market conditions, and strategies for effectively marketing and selling the property.
2. How exactly do I need to prep my home for the market to ensure it’s in the best shape for buyers?
At the Real Estate Collective, we’ve developed a 3 step proven process to help you prepare your home for the market in order to achieve the best outcome!
This process alone has given our clients a 47% return on investment, so if you’re looking to maximize the money in your pocket when selling, trust me on this…
1️⃣ Prep
First things first, PREP! This of course involves cleaning the home inside and out, but also can involve upgrading or renovations if needed. And no, this doesn’t mean you have to spend a ton of time or money.
We’re talking small things that make a BIG impact. Things like fresh coats of paint, new flooring, and small updates or upgrades (like kitchen appliances, for example). 🎨🛠️
For a closer look at some strategic ways to prep your home for market, CLICK HERE!
2️⃣ Perfect
Once your home is prepped, it’s time to PERFECT! ✨
This is where my staging expert will come in and get your home looking picture-perfect for listing photos and showings, so you can really sell those potential buyers. This is what allows buyers to visualize the space as their own. They can come in and imagine what their life would look like in the home.
3️⃣ Present
You’ve prepped and you’ve perfected, now it’s time to PRESENT. 📸
During this phase of the process, our exclusive photographer will come in to make sure every corner of your house is looking its absolute best and captured effectively, so you can feel confident knowing quality offers will be coming in.
If you’ve ever browsed Zillow or any other platforms showcasing homes for sale, you know that the pictures can really make or break a property.
That’s why professional photography is a non-negotiable because let’s be real… professional photos are WAYYYY more exciting to look at than Sharon’s iphone 5 photos, ya feel me? 🤣
3. How do I actually list my home for sale?
Once you’ve chosen a local real estate agent to work with and taken the first steps to prepare your home for market, it’s time to LIST!
Based on your market analysis, your real estate agent will help you determine the appropriate listing price for your home based on factors such as its condition, location, market trends, and comparable sales in the area.
From there, you'll sign a listing agreement that outlines the terms of your partnership, including the agent's commission rate, the listing price, and the duration of the listing agreement.
Once all the legalities are taken care of, your agent will handle the listing process for you so that your property gets added to the Multiple Listing Service (MLS) and potential buyers can actually find your listing.
4. How do I navigate showings when I’m still living in the home?
One of the most common questions that sellers ask once they list their home for sale is, “how do we navigate showings?” And this is SUCH a valid question, especially if you plan to continue occupying the home while the property is listed for sale.
It can feel stressful to think about having to navigate your daily life when there are potential showings scheduled in the midst of it all.
While this part of the selling process can definitely feel overwhelming, this is where having a trusted realtor by your side is SO key!
For me personally, I see it as my job as your real estate agent to make showings extremely seamless, so that your life is disrupted as little as possible.
Together, we’ll work to find out what times are most accommodating for you AND for buyers to see your home.
There will of course be times where showing requests can come at a short notice, but if we develop a clear plan beforehand, we can efficiently and effectively show your home in a timely manner without feeling like you’re constantly putting your life on hold.
5. What do I do once I start receiving offers for my home?
When you’re selling your home, receiving an offer is SUCH an exciting feeling! It instantly feels promising and often makes sellers feel super confident that their transaction will move quickly.
While it’s true that receiving offers on your home is a good sign, my best advice when working with clients who are selling their home is to not get their hopes up quiteeee yet.
When we receive offers on your home, we need to do a little investigation first in order to see if the offer is even something you want to entertain.
For example, if the buyer offers wayyyy under asking and has outlined a ton of contingencies in their offer, there’s a chance it’s not an offer that will be at the top of your list for consideration.
This is why it’s crucial that the FIRST step after receiving an offer is to carefully review the terms and conditions outlined in the offer letter. Your real estate agent will typically go through this paperwork with you and help you fully understand exactly what the offer entails.
You don’t want to rush this or breeze over it! It’s incredibly important to view the offered price, proposed closing date, contingencies, and any additional terms the buyer may have included, so that your agent can help craft an appropriate response and help you decide how to strategically proceed!
6. What are some different negotiation strategies I can use to ensure that I get the best outcome when selling my home?
Once you’ve received offers on your home and you’ve decided which ones you’d like to entertain, you may find that you want to negotiate.
And I know what you might be thinking… negotiate?! That sounds intense and scary. But trust me, it’s a totally normal and common thing in the real estate world.
This is where working with a local, trusted real estate agent is going to come in handy because this is what they are trained to do. You shouldn’t be left to come up with negotiation tactics on your own. Instead, you want to have someone on your side that has done this before so you can do it correctly and strategically!
In my experience, there are 4 common negotiation tactics we can use based on your specific circumstances:
Counter offer WITH an expiration date
Reject the offer entirely
Create a bidding war
Agree to pay closings costs with the contingency of a higher purchase price
For a deeper dive into each of these negotiation strategies, CLICK HERE!
7. How can I best prepare for the home inspection and appraisal as a seller?
When you accept a buyer’s offer, they will then have the opportunity to conduct an inspection prior to closing. While these aren’t required, most buyer’s agents will recommend that a buyer has an inspection so that they are fully equipped with an in-depth understanding of the property's overall condition.
During the inspection process, the inspector will work to identify any existing or potential issues that might affect the home's value, safety, or livability. They look for any issues that could pose safety hazards or might require immediate attention.
Additionally, the inspection provides an overview of the general condition of the property, which helps the buyer make informed decisions about the purchase, understanding the repairs or maintenance required after closing.
With all of this in mind, it’s important for you as the seller to understand that based on the findings of the home inspection, your potential buyer could come back with additional negotiations.
Most of the time, this includes them negotiating repairs or asking for a reduction in the sale price to cover the costs of addressing those issues.
While this can often feel frustrating as the seller, just know that it's a very common thing and expecting it will give you more opportunity to prepare for it!
This is why I always suggest that as the seller, you do as much due diligence as you can up front BEFORE you list your home, so that you can avoid potential negotiations like this during the under contract phase.
Once the inspection is completed and negotiated, the bank will order the appraisal. Similar to a home inspection, a home appraisal serves multiple purposes, primarily to determine the fair market value of a property.
This information is important for you to know as a seller because just like a home inspection can be used as a negotiation tool, an appraisal can too!
This is why one of the FIRST steps that we take when you’re ready to sell your home is conduct a market analysis to ensure that we’re listing your home correctly from the start, so that we can yet again hopefully avoid any under contract negotiations.
8. What do I need to do as the seller during the “under contract” phase?
My best advice here? DON’T. GET. COMFORTABLE. 🙅🏼♀️
In my experience, home sellers often make the mistake of not putting in the effort after the contracts are signed. And trust me I get it – accepting an offer often feels like the final step where you can sit back and relax.
But the way that you act during the under contract phase is JUST as important!
The biggest mistake you can make is to not make your home show ready any time that buyer or their inspectors are walking in. You want to keep them excited and looking forward to living life in your home.
The three key things you can do to prep your home for inspection are:
Understand what inspectors are looking for
Keep it clean
Conduct a “mini inspection” yourself prior to the real thing
For a deeper dive into each of these, CLICK HERE!
9. What is the typical closing timeline?
Once the inspection and appraisal process have been completed, you’re SOOOO close to closing. And I’ll be honest – those last few days prior to closing can feel hectic as the seller, but my motto is always this: if we have a plan, the smoother the process can go.
Ideally you will already have your movers set up, so that you know exactly when your property will be vacant.
Overall, the 7-10 days before closing is really the buyers time to shine. They will be working with their underwriting team during this time to get the final approval.
Once they receive final approval from the bank, we’ll then schedule the closing. The contract date for closing is always a moving target, but we try our best to hit that target best we can!
10. What exactly happens at closing?
In Montana, we close at title companies, but some states use attorneys or closing offices. Regardless of where you close, the closing appointment is where both parties will sign ALL the documents that will transfer ownership of the home to the buyer and the buyer submits all of their required funds to purchase the home.
Once all paperwork has been signed and funds have been disbursed, the buyer is officially the new owner of the property and you have officially sold your home! 🙌🏼
As the seller, you will need to bring the following to closing:
Government Issued Photo ID
Extra keys and garage door openers to the property.
Any outstanding documents you may be instructed to bring by your real estate team (could be completed repair receipts etc.)
The closing process typically takes an hour and once it’s finished, the property should transfer ownership within 24 hours and your money should be in the bank! 💸
Ready To Start The Home Selling Process?
My hope is that this list of Q + A gives you a pretty good idea of how the home selling process works and gives you a confidence boost to get the process rolling.
While it *can* feel like a lot, I’m a firm believer that the more you know, the better you can navigate all of it with ease.
And at the end of the day, when you don’t know something or have more questions, your real estate agent should serve as your go-to person that works with you from start to finish to make the process feel way less overwhelming.
So, whaddya say? Are you ready to begin the home selling process?
If you’re local to Billings, CLICK HERE to get started and I’ll help you get started on the right foot.
And if you aren’t local to Billings, good news for you – I know people. 😏
Connect here and I’ll get you in touch with a trusted agent in your area to start the home selling process with ease!