You asked for it, you got it! These are 5 common things we explain to most of our clients when they are thinking of selling! Let us know if any of these were new information to you.
- Zestimates are not accurate- Zillow has its place, but this is a computer that is based on algorythms. Can it truly see the value in your home? No, ask a Realtor to step foot in the home and physically see the condition. We have had years of training and selling homes on the market. Longer than Zillow has been around. Let our years of experience show you how to get top dollar for your home. Even if you're not ready to sell right now, we will send you updates every 3 months with updated values to keep you informed. And we do it for FREE.
- Commission is split between 4 or more parties- You as the seller pay for the commission to the agents. It is split among the two agents representing the buyer and seller, and their brokerages they work under. Also, if there is a team, like Homes by Henson, that would be a 5th person. Then you have the transaction coordinator on both sides. It can be up to 7 people that are sharing that commission. But it is well spent and well earned. Those 7 people are working to sell your home and create a smooth as possible transaction for you.
- Doing minimal repairs can earn you as much as 3x the value of the repairs- Always consult your realtor before doing the repairs. Because some add value and others do not. Even investing $5k into your home can make you an extra $15,000-20,000!
- You are not required to order the inspections- In fact, we would recommend that the buyers conduct their own inspections. This takes the liability off of you. Give them the opportunity to find out as much about the home as possible. This is great so that they don't turn around and say something wasn't disclosed and they didn't have a chance to inspect for it. Welcome to "Sue-Happy California". Also, if the buyers are spending the money on inspections, that shows their dedication to the home. They are already investing in your home so they are more likely to follow through on the purchase.
- Property is sold as-is, SUBJECT to buyer's investigations- Yes, As-Is, we know the home is sold As-Is. But did you know that the buyer STILL has a LEGAL RIGHT to inspect the property AND renegotiate based on the findings? Don't be upset if you tell you agent that your home is sold as-is but then the buyer still asks for repairs or a credit. (See excerpt from the California Residential Purchase Agreement Pg. 5 below) They have a right to ask, you have a right to decline.
There you have it. Those are 5 things we find that sellers don't typically know when they are selling a home. Let us know which ones you didn't know about!