Find answers to burning real estate questions (submitted by homebuyers and sellers!) in this monthly column.
Home sellers have a lot of questions about the selling process. Fortunately, RE/MAX agents have the answers.
Consumers recently posted their top real estate questions on Instagram and RE/MAX agents, each affiliated with an independently owned and operated RE/MAX brokerage, answered! Here’s what they had to say.
Q: Would selling right now be a good idea? How do I know when a good time to sell is?
“This question depends on so many factors. For example, what neighborhood or market is the home in? And how long the home has been owned? If someone is considering selling, I would tell them to first seek out a real estate professional to help them understand how much equity they have in their home and what their local market looks like. Local market is important – and the closer to their home and neighborhood, the better the data. Once they know how much equity they have, they can figure out the cost of selling (commission, fees, title, lender, etc.) and determine if that’s their best next move.” – Angelica Olmsted, RE/MAX Professionals, Denver, Colorado
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Q: How do I set an asking price for my home?
“Contact your local RE/MAX agent to come to your home for a guided tour, and [tell them about] all of the benefits and features you love most about your home. They will use this information to check local stats and provide you with a Comparable Market Analysis (CMA) to determine your asking price. In this challenging market climate, there are more strategies than ever to get the best price for your home. Work with your RE/MAX agent to determine the best strategy to accomplish your ideal end result, whether that be a quick closing, highest possible price, or somewhere in between.” – Rachele Maczuk, RE/MAX Today, New Haven, Missouri
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Q: At what point in the home selling process do I hire a real estate agent?
“I would recommend hiring a real estate agent early in the process of selling a home. Hiring a REALTOR® months in advance will often help put sellers in the best position to sell and maximize their return. First, it’s important to analyze market conditions and strategize on when the best time to hit the market will be. Many variables are at play here and a few include seasonality of the market, inventory and competition projections, interest rate projections, and how that effects a buyer’s buying power. And in many cases, track the school year cycle because that may affect when buyers want to buy and move. Second, it’s incredibly important to take the time to prepare your home to hit the market. A rushed approach can often leave money on the table for sellers. I personally push sellers to meet months in advance so we can analyze what type of cost-effective improvements can be done to maximize their return. In many cases, I will pull in an interior designer or stager to help sellers with improvement ideas, de-cluttering, and de-personalization techniques. Lastly, real estate agents can often recommend trusted vendors to help sellers prepare for hitting the market. Examples include painters, flooring contractors, landscapers, contractors, estate sale companies, and much, much more! With all of the above being said, I would highly recommend sellers hire a REALTOR® a minimum of 3-4 months in advance to put them in the best position to sell.” – Josh May, RE/MAX of Grand Rapids, Grand Rapids, Michigan
“There is no straightforward answer. If you are doing renovation work, then you should contact an agent up to 12 weeks before listing. If minor repairs need to be done and you’ve already begun to declutter your home, then maybe six to eight weeks prior to listing. And if you are confident that you are ready to sell and perhaps in a rush, then one to four weeks.” – Rich Froehlich, RE/MAX Town & Country, Fishkill, New York
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Q: Where can I go to hire an agent?
“RE/MAX agents are available in [more than 110 countries and territories] worldwide, and finding an agent near you is simple! Visit remax.com/real-estate-agents to search your local region. From here, you can read bios on agents, visit their websites, see their listings, get their contact information, send them a message, and more. Reaching out to the agent of your choice is quick and easy!” – Rachele Maczuk, RE/MAX Today, New Haven, Missouri