Real Estate FAQs About Selling Your Home

FAQs about buying and selling your home

What does your company charge to help me sell my home?

Each REALTORS® fee structure may differ slightly. This will vary based on the individual agent's programs, marketing plan, price of the property, condition and salability of the property, and the needs of the client. Also, keep in mind that usually 40% - 50% of that commission is an offer of compensation to cooperating agent for bringing a buyer. The commission also includes reimbursement for the out-of-pocket marketing costs or other costs incurred by the agent and broker to market the property. Your REALTOR® does not get paid until your home closes.

What are the three biggest mistakes home sellers make?

  • Over-pricing the property
  • Not using a REALTOR®
  • Not listening to the advice of their REALTOR®

A home is worth what the market is willing to pay, not how much the seller wants or even needs out of the house. The price of the home will depend on market conditions, inventory, condition of the property, location, recent comparable sales, as well as other factors.

A REALTOR® will help you price your home properly so you have the best shot of selling it for the most money, and in the shortest amount of time. Your REALTOR® will also provide a comprehensive marketing strategy, knowledge of all contracts and addendums you will need, they will negotiate on your behalf, help coordinate inspections, follow-up with the lender and buyer's agent to avoid surprises and ensure a smooth close, provide experience and advice, coordinate walk-thru and closing, help convey and arrange all other details such as repairs, receipts for repairs, keys, utility transfer, deed set signing, and more.

REALTORS® will offer advice on where to price a home, certain repairs and upgrades that should be done prior to placing the home on the market, and advise you during the negotiation process of a contract. Sometimes sellers decide not to take the advice of their REALTOR®, and consequently may end up getting less for the property, have an extended market time, or both.

Is a big name company going to sell my house faster and for more money?

Having an agent and a real estate company, whether large or small, that can meet your needs should be your primary concern. Nebraska Realty is one of the largest and most progressive companies in the metro area. We understand that the agent you select is even more important than the company, and this shows in our philosophy of allowing agents to do what is in the best interest of their clients. One good indicator of how well a company is performing in selling homes is by looking at the average days on market. Nebraska Realty has tracked average days on market since 2004, and each year since then our listings have sold faster on average than any other major real estate company in the Omaha/Lincoln metro areas.

Nebraska Realty agents are honest with their clients about the home's price and condition, even when it is something they may not want to hear. Price and condition, plus the marketing and advice a professional REALTOR® provides will determine how much you ultimately get for your home and how fast it sells.

Should I list my home for a little more than the market value so I have room to negotiate?

People that try to work in negotiating room by over-pricing their property typically end up getting less than they would have if the home was priced correctly to start. The best market time for a home is within the first three weeks. If a home is not priced correctly during this time, especially in a buyer's market, the property is missing out on the best prospective buyers. By the time the price is adjusted, it may have been on the market for several weeks or months. At this point buyers are asking "what is wrong with this property", or "it seems like a good home for the money so why has it been on the market this long?" Some buyer's may think "They are probably desperate to sell by now so I am going to offer them less." The bottom line is by over pricing the property you will usually end up chasing the market, and netting less for your home than you would have if it were priced properly at the beginning.

Company X said that they could sell my home for more money then what you are proposing it may be worth. Is that true?

Careful! Some agents may throw out over inflated list prices just to capture the listing. Statistics still show that a home's optimum days on the market are the first 21-days. If your home price starts too high the buyers that were looking for a home just like yours may miss it because it's priced out of their search parameters. By the time it's reduced down to a fair market value, you may receive lower priced offers based on the extended days on market.

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