Charlotte, North Carolina Real Estate Blog and Housing ArticlesRecently posted or modified blog posts in the category - Selling Your Homehttps://www.housesincharlotte.com/blog/Copyright HousesInCharlotte.com2023-11-08T11:05:33-07:00tag:housesincharlotte.com,2012-09-20:4747Charlotte Listing Specialists - Home Selling Services<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Our%20Listing%20Services%20Blog%20Graphic.png" width="800" height="450" alt="Charlotte Home Selling Services" title="Charlotte Home Selling Services" />
When it comes to selling a home with the services of a real estate agent, I cannot stress enough the fact that not all agents or companies are created the same. There is a HUGE difference between how agents market homes, their understanding of home buyer tendencies and patterns, their use of proper pricing strategies, their experience with staging and preparation, negotiation techniques, reputation in the real estate community, how they handle unforeseen difficulties during the transaction, and on and on. Don't make the mistake of assuming that all real estate agents will get you the same results because choosing the wrong agent can cost you thousands of lost dollars and unneeded stress. Take the time to research them and their results before listing your home.
Our Charlotte listing agents, at Hendrix Properties, view the process of selling your home as more of a systematic project rather than simply popping your home on the MLS with some nice photos and hoping for the best. Every single thing we do from the moment we pull into your driveway all the way through to the closing table is designed to get you the most money for your home, in the shortest time on the market, and with the fewest headaches. We take the job of selling your home very seriously and place a keen eye on every step along the way. Take a look at some of our offerings below and then reach out to <a href="https://www.housesincharlotte.com/agents/chadhendrix/">Chad Hendrix</a> or any of our other <a href="https://www.housesincharlotte.com/about/">Charlotte listing agents</a>.
Our List of Services:
Free Broker Consultation and Price Opinion
When we meet with you at your home, we'll give you a good idea of what your home is likely worth as well as what we feel it should be listed at. Our opinions are based on comparable sold properties in the area, our years of experience, and our understanding of the market. In the meantime, feel free to try out our <a href="http://www.hendrixhomevalue.com">Free CMA (automated market analysis)</a>.
Complimentary Home Staging Consultation
Getting your home looking just right is one of the most important steps in the preparation process. In addition to the suggestions we'll have for you, we also bring in our award-winning home stager who will prepare a detailed, room-by-room to-do list so to speak. This visit will also give her a chance to assess the property and any actual 'staging' needs that the home may need as well.
Custom Home Measurement and Floor Plan
For most properties, we'll have your home professionally measured and generate a beautiful floor plan. Buyers appreciate this and it's also a good way to ensure that the depicted square footage is accurate. This is one of the many services we provide that most agents do not.
Professional Photography
Professional photography is something we strongly believe in. To us, that means bringing in one of the best photographers in the region (we work with 2-3 tried and true professionals). Our photographers don't use their iPhones, aren't the agents themselves taking the photos, and aren't in and out of the home in 15 minutes. Our photographers bring in extra lighting, expensive equipment, great technique, and years of experience, and have wonderful editing skills. It's easy to see the difference in our work versus most.
Drone Photography and Video
Drone photography is one of the neatest forms of marketing in existence. It allows for beautiful overhead shots of your home that can't be taken with traditional photography and show characteristics of your lot that might otherwise be missed.
Magazine-Quality Home Brochures
We create beautiful brochures to be placed inside your residence. Our goal is for buyers to pick one up and take it with them to be reminded of how lovely your home was and some of the more important details. Without these, they may forget some or even all aspects of your home, especially if they've seen several others that day. It's one more way that we work to make your home stand out among the others.
Full Motion Virtual Tour
For certain homes, we may bring in a videographer to shoot more of a full-motion type of video for that added touch. The size, style, location, and price point of the home help determine if this type of marketing is worth adding to the mix.
Facebook Marketing/Digital Advertising
Targeted digital marketing on Facebook is something we do over and beyond what your typical real estate firm will do. We like to place enticing ads in front of likely home buyers and current homeowners within a certain number of miles of your home. This creates a buzz, gives your home added exposure, and increased the likelihood that we'll get your home sold fast and at a higher price.
Multiple Listing Service (MLS)
The local MLS (multiple listing service) is THE main database of real estate listings in our local market. It is crucial that your home is listed here because once listed on the MLS, it then trickles to sites all over the region and country.
YouTube Video
YouTube is the second most popular search engine in the world behind Google. We will post a video or virtual tour of your home on our YouTube channel for easy sharing or for consumers to find naturally.
Single Property Website
Our Single Property Websites are one of the best ways to showcase all that your home and neighborhood have to offer. It's a central place to show professional photos, video(s), home features, and on and on. Here are a couple of examples: http://5351heartwood.com/ and http://3506piaffeavenue.com/
Syndication across Zillow, Realtor.com, Trulia, and National Portals
We want your home listing to be seen by as many prospective home buyers as possible. To do that, we need to go to where they're at. Besides the local company real estate firm websites like www.HendrixProperties.com, home shoppers also frequent popular national portals like Zillow, Realtor.com, Trulia, and a few others. Not all real estate companies show their listings on Zillow but we have agreed to.
Your Home Listing Placed on Local Real Estate Company Websites
When your home is listed with us, we'll also make sure it's listed on every company website around. Thanks to what we call "broker reciprocity" - by allowing other companies to advertise their listings on our website, they agree to showcase our properties on their websites. So, you're getting full exposure across the board.
Eye-Catching For Sale sign
'For Sale' signs were the first form of advertising homes for sale and are still effective today. Our signs, however, are bright and colorful and represent quality. We don't shortchange anything, even down to our distinguishable real estate sign panels and white posts.
Central Showing Service
We use a centralized showing service called "Showing Time" to facilitate showings of your home. Buyer agents go through this service to request appointments to see your home based on your instructions. We can track showings and feedback, manage various things through their app, and simply make it easier to get your home shown.
Electronic Lockbox
We use electronic lockboxes on all of our listings. These lockboxes track every agent who comes into your home even down to how long they were there. These make for an added layer of safety as well as a professional means of entry for those with appointments.
Contract Negotiations
Contract negotiations aren't just about the price of your home. There are many other important terms of a contract, such as due diligence and closing dates, due diligence, and earnest money amounts, closing costs, and dealing with multiple offers. And then, once under contract, we deal with the "second set of negotiations" in inspections and repairs. Deals can easily be lost or made here. Having an experienced negotiator with a good reputation and the ability to work nicely with other professionals is another thing that sets us apart. There IS a difference.
Transaction Management
For us, transaction management is more than simply helping you with paperwork. It's helping you to always understand what's next and what to expect, guiding you through complicated documents with ease, and helping you understand various terminology and options. We want you to feel confident and in the know about the entire selling process.2021-11-13T08:20:00-07:002023-09-27T09:06:47-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:12053Home Selling Frequently Asked Questions (FAQs)<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Home%20Selling%20FAQs%20Blog%20.png" width="800" height="450" alt="FAQs about Home Selling in Charlotte NC" title="FAQs about Home Selling in Charlotte NC" />
Over the past 22+ years, I have been asked all sorts of questions from homeowners about selling their homes. With so much misinformation in advertising and the ever-changing real estate business models, I thought it would be helpful to share my thoughts in this informative, easy-to-read Q&A article. My goal is to provide homeowners like you with candid answers to the most commonly asked questions about the home-selling process. Please let me know if you have other questions that I haven't addressed and I'll be sure to update our article in the future.
Jump To Sections: <a href="https://www.housesincharlotte.com/#FSBO">FSBO vs. Listing with a Realtor</a> | <a href="https://www.housesincharlotte.com/#Pricing">Pricing</a> | <a href="https://www.housesincharlotte.com/#Timing">Timing the Sale</a> | <a href="https://www.housesincharlotte.com/#Preparation">Preparation</a> | <a href="https://www.housesincharlotte.com/#Marketing">Marketing</a> | <a href="https://www.housesincharlotte.com/#Showing">Showing Your Home</a> | <a href="https://www.housesincharlotte.com/#Commissions">Commissions/Fees</a> | <a href="https://www.housesincharlotte.com/#Choosing">Choosing the Right Listing Agent</a>
[<a href="https://hendrixhomevalue.com/">Click here for your Free Home Value Estimate</a>]
FSBO ("for sale by owner") vs Listing with a Realtor
Q: Will I save money selling my home without a real estate agent?
A: It's possible. If you already have an unrepresented buyer lined up (one who is not already working with a real estate buyers agent) and they are in agreement with the terms you've proposed, you may be able to save some money selling it yourself. However, this is rare. In most cases, the staging and marketing abilities of an experienced listing agent can help you achieve far greater results than you would on your own. Not only can a great listing agent help you sell your home for more money but can also attract more activity, more qualified buyers, and stronger overall terms. Listing your home with an experienced Realtor can also help you prevent or easily navigate issues that may arise once the home is under contract. Trying to do this on your own could be detrimental to the contract you have in place if you are not fully educated on the process and legalities.
Q: Can I still list my home on the MLS even when selling FSBO “For Sale By Owner”?
A: Only licensed Realtors can put listings on the MLS but you can achieve this by contracting with a 'discount broker'. A discount or 'limited service' broker can list your home on the MLS for a flat fee and will classify your listing as limited-service instead of full-service. In doing so, you would still need to offer some compensation to a buyer's agent and you would still pay a non-refundable fee to the discount broker. The big downside to you as the seller is that you'd be unrepresented and have no one working for your best interests. Remember, the buyer's agent is contractually obligated to protect their client and serve their best interests, not yours. Another potential downside is that the buyer's agent would be instructed to work directly with you, the seller, instead of having an experienced professional (listing agent) on the other side of the transaction. Frankly, I've never seen this as being a positive approach for any seller.
Q: What are the benefits of listing my home with a full-service Realtor?
A. A great listing agent will help you prepare and even help stage your home (if necessary). They'll also likely hire a professional photographer or videographer so that your home is showcased in its best light. They will help market your home in various ways whether it be through postal mailings, <a href="http://3506piaffeavenue.com/">single property websites</a>, social media advertising, and most importantly, via the MLS. Once listed on the MLS, your home's listing will be distributed to almost every online real estate portal out there. An experienced Realtor will properly guide you through all of the listing paperwork, and seller disclosures and offer you advice on pricing your home strategically (to receive the most interest while maximizing your profit). And that's just the beginning. Once there is interest in your home, your listing agent will help you negotiate the best offer and terms and assist with all of the contracts and paperwork. They will help guide you through the inspection and appraisal process and work with both the closing attorney and buyer's agent to get past any difficulties or roadblocks so that you actually make it to the closing table. There can be a big difference from one Realtor to the next but if you work with a reputable one, they are well worth their commission and much more.
Q: What is an iBuyer?
A: An iBuyer is a company that uses technology to make an offer on your home, often through an automated valuation process. The big players are Opendoor, Offerpad, Zillow Offers, Knock, and Redfin. They seem attractive on the outside because they skip right over the whole listing process and deal directly with you to purchase your home. This can work nicely in a situation where you need to purchase another home but need to sell yours first or if your home needs a good bit of work that you don't want to deal with. The downsides are that they are in the business to make a profit and will typically offer you much less than your home is truly worth. They still charge you commissions and most often charge for unexpected repair fees. I don't think it's a bad idea to check with one of these companies but I would highly encourage you to consult with a qualified and experienced listing agent prior to making a decision, especially if more money in your pocket is important to you.<a id="Pricing"></a>
Pricing Your Home
Q: How do I determine the value of my home?
A: With residential real estate (homes/townhomes/condos), buyers will actually determine the value of your home. This so-called "market value" is what the buying public is willing to pay for your home based on many factors such as the current market conditions, supply & demand, comparable home sales, size, location, condition, and home improvements. As a homeowner, you can increase the desirability and potential for a higher sales price through better home preparation and the marketing/exposure of your listing.
Q: How do I choose the best list price for my home?
A: You can estimate a good list price by taking into account what other similar homes in your neighborhood or surrounding areas are selling for and then comparing things such as price per square foot, condition, location, improvements and upgrades, and other factors such as the current market. An experienced Realtor can help counsel you on this as well as supply you with a CMA (comparative market analysis) to help you make the best decision.
Q: If I price my home higher, will I get more for it?
A: Pricing your home with a little buffer room is quite common but simply pricing it higher than it should be (in hopes of getting higher offers) can actually backfire. Overpricing your home could result in fewer home showings and extended days on the market. More days on the market (especially in a seller's market) could cause buyers to question if there is something wrong with your home. Another problem with overpricing your home is that you may go over the max threshold for some buyers that would have shown interest had you been priced correctly. Our opinion is that you will likely receive a better price when you price it reasonably from the very beginning and then allow the market (buyers) to drive the price up. There is a strategy to this that shouldn't be taken lightly.
Q: Are Zestimates and other online home valuation tools accurate?
A: Well, they can be but in no way should these be relied on to be 100% accurate. The estimates from Zillow or <a href="https://hmbt.co/BwnbdM" data-uw-styling-context="true" data-uw-rm-brl="false">sites like ours</a> are automated valuations based on tax records and sales data from the MLS. They don't take into account such things as location, condition of the home, upgrades, recent home improvements, etc. An experienced Realtor can help properly evaluate your home and prepare a current CMA (comparative market analysis) based on all of these factors.
Q: Is Market Value, Appraised Value, and Tax Value the same?
A: "Market Value" is the price a home buyer is willing to pay for your home. A professional appraiser can determine the "appraised value" which may or may not correspond with the market value. Lenders typically use the appraised value when determining the LTV (loan to value) ratio during the mortgage process. "Tax value" is the value that the city or county tax assessors place on your home for tax purposes. This value can stay in place for as long as 8 years (in NC) while the market value can fluctuate. Tax value is typically lower than market value, sometimes by 20% or more.<a id="Timing"></a>
Timing the Sale of Your Home
Q: How soon before wanting to sell, should I have a Realtor out?
A: If you're even contemplating a sale, I would suggest having an experienced Realtor come out as soon as possible even if you're not planning on selling for months. Not only is this a good chance to meet/interview your possible future listing agent but it also gives you plenty of time to be working on any suggested repairs, improvements, and decluttering you'll want to do before listing. A top-notch listing agent can spot even the smallest things that may make a big impact on the way your home shows and feels to prospective buyers.
Q: How long does it take to get my home ready for the market?
A: 2 to 3 weeks is a good, safe estimate assuming that your home is almost ready to go. To properly list a home, we usually need a couple of weeks so that we can line up our home stager, photographer & videographer, design the printed & digital marketing pieces, have professional home measurements made, complete the listing paperwork, etc. An extra week will give us a little buffer room to make sure that things are done just right. A couple of weeks may seem like a long time but what you don't want to do is rush to get your home on the market before it's 100% ready, as it could end up costing you more than just time.
Q: How long does it take to sell my home?
A: In this current seller's market, we can usually get your home under contract within the first weekend or week it's on the market. There are clearly some variables here such as whether or not you've taken our advice with preparation and proper pricing, whether or not there are factors that we can't control (environmental factors, noise from a busy road, power lines behind the home, location, etc), and the current market that you are selling in. There are always home buyers out there and we most definitely have the skills to make your home stand out from the competition. When the right things are put into place, you can usually expect positive results rather quickly.
Q: When is the best time to sell my home?
A: You'll often hear that spring is the best time to list your home. Spring is typically the start of the selling season and buyers become much more active. Others may say it's best to list in the summer, before the start of the new school year. Truth is, there are ALWAYS buyers out there regardless of the time of year. If you're thinking of listing in the spring or summer, there will be more competition in the market. If you waited later in the year to list, your results could be just as good, if not better, because there is typically less inventory. In a nutshell, the best time to sell is when it's right for YOU. We will help your home stand out no matter the time of year.<a id="Preparation"></a>
Preparing Your Home
Q: What can I do now to prepare my home for sale later?
A: Ideally, go ahead and have us out for a visit so that we can walk through your home with you and give you customized suggestions (remember, you can't do this too soon). But, if you're not ready for that yet, I would do the following: De-clutter as much as possible; Sell or donate furniture or possessions that you won't need going forward; Pack up items you don't need now and neatly stack boxes in the garage or store offsite at a storage facility or in a POD delivered to your residence; Repaint, if needed, to freshen up the space or neutralize strong paint colors; Make any necessary repairs to the interior or exterior; Spruce up the landscaping (pruning, aerating, and seeding, adding mulch, etc). This would be a heck of a start and something that you can be working on months in advance.
Q: Won’t my home sell anyway, regardless of whether or not I put much effort into preparing it?
A: This is a common question and I can tell by many of the homes I see on the MLS that many homeowners (and real estate agents) seem to live by this presumption. However, there's also the saying "If you're going to do something, do it well" and this is exactly how we like to work. We know for a fact that even the smallest things can make a big difference. This can amount to more money in your pocket and stronger, more qualified buyers. We don't just pop your home on the MLS and hope for the best. We put extra time and effort into your listing to ensure we get you the best results possible...the best price, the most buyers, the strongest terms, and the best overall experience.
Q: Should I get my home pre-inspected prior to putting it on the market?
A: It depends. In theory, it's a great idea for both parties. Having your home inspected prior to listing will give you time to make the necessary repairs that will likely be found during a buyer's inspection period. Some home sellers also like the peace of mind they have knowing there (likely) won't be any big surprises that arise that could be detrimental to the transaction. Just remember, should you decide to have your home pre-inspected, you'll want to be prepared to either remedy those items before listing or disclose them to future buyers (as those issues would then become 'material facts'). Now, if your home is fairly new, in good condition and you've been doing preventative maintenance on your home, it's probably okay to just wait for the buyers to do their own inspection and then take things from there. We can advise on what we feel would be best in your situation once we see your home.
Q: Will my home show better vacant or furnished?
A: There's no question about it, staged homes show better, sell faster, and for more money than vacant homes, period. Staging will make your home stand out in photos, make it feel much more appealing in person, allow potential buyers to better visualize themselves living there, and will ultimately get you a better price and better terms for your home. With that being said, not every room in your home needs to be staged. In some cases, vignette staging (light staging and accessorizing) may be enough. In other cases, bringing in furniture for the more prominent areas (kitchen, living room, dining room, owner's bedroom, office & outdoor spaces) will work best. We will typically provide (at our cost) a complimentary home staging consultation by our award-winning home stager to determine what the best approach is for you. Included in this consultation is a written step-by-step document that details what you can do on your own too. We've personally seen some of our sellers walk away with thousands (and for some, tens of thousands) of dollars more compared to other similar homes that were not staged. The decision to stage your home (fully or partially) should not be taken lightly. <a id="Marketing"></a>
Marketing Your Home
Q: What is the MLS?
A: The MLS, or Multiple Listing Service, is the main database that houses information for the majority of all homes for sale by cooperating real estate brokers (member participants). It was originally founded over 100 years ago, long before computers and internet technology were around as a way to exchange and share listing information to brokers outside of one's own personal network. Even as recently as 1999 when I became a Realtor, listing data was kept in-house, often in notebooks and the only way to get exposure was through signage, open houses, phone calls, flyers, or direct mail (thank goodness technology has evolved!). Because of the establishment of the MLS, smaller brokerages are able to fairly compete with larger brokerages since all homes for sale are listed in one central location. Note, a listing broker must make offers of compensation to all cooperating brokers on the MLS.
Q: What real estate websites will my home be on?
A: Once your home goes on the MLS, the listing will be syndicated and distributed to nearly every local real estate website (such as <a href="https://www.housesincharlotte.com/" target="_blank">ours</a>) as well as popular national portals including realtor dot com, Trulia, and Zillow. So, as long as you list your home with a licensed Realtor (and if you agree to public marketing via your listing agreement), your home will be displayed openly to the public along with every other MLS listing.
Q: Is professional photography important?
A: This is a big YES! With that being said, it's important that your Realtor has a relationship with a great photographer, not just someone with a nice camera. There's no regulation on whether or not someone can call themselves a 'professional photographer' so your Realtor should have a relationship with a proven photographer that understands proper lighting, angles, how to get the right shot, has good editing skills, etc. We've worked with several great ones over the years and only work with the ones that we feel will showcase your home in the best possible light.
Q: What are your thoughts on Open Houses?
A: My answer here may ruffle some feathers but frankly, home buyers are not sitting around waiting for Open Houses in order to find their dream home. Buyers may visit an open house if they come across one or may even seek them out, but open houses are no more effective than sending out flyers for actually getting your home sold. Homebuyers today have access to every home on the market right at their fingertips: smartphones, tablets, and desktop computers or via their buyer's agent. Another thing to note is that some agents like to hold open houses as a tool for attracting new buyer clients or neighbors. The big downside to open houses in my book is that you can have unattended, unqualified strangers walking around your home (and possibly going through your valuables) because the agent on duty can not be with everyone at one time. Open houses can also be a major safety concern for the agent in some cases, especially if they are alone. A "brokers open", on the other hand, makes more sense as it's basically an open house for other real estate brokers. Most of the time your home will sell because it's listed on the MLS and other forms of marketing, not because of an open house.<a id="Showing"></a>
Showing your Home
Q: What steps should I take to get my home ready for upcoming showings?
A: When you have a showing, make sure your home looks clean, neat & decluttered as much as possible. Turn on all of the lights and ceiling fans, open blinds and curtains, and put on some soft music. It's a good idea to remove pet items, make the beds and maybe do a light cleaning. Buyers will often open up your closets, cabinets, pantry & fridge too. Another thing we recommend to our sellers is to lock up or remove any valuables and secure important documents in the home. Although buyers will have their agent with them, they can't always be with them 100% of the time. For those of you with home surveillance equipment like cameras, nanny cams, and Ring doorbells, please make sure you turn OFF the audio before you leave. Sellers are not allowed to listen in on conversations with other parties without their consent.
Q: Should I be present when my home is being shown?
A: My short answer is, No. While you may be one of the nicest, most charming people ever, home buyers and their agents want and need their own private space to freely and openly discuss your home and their feelings. This is another reason we don't allow overlapping showings on our listings. Buyers are making a huge decision and usually only have a short window of time to view your home. It's best to give them their space.
Q: Are the prospective buyers coming through my home pre-approved?
A: No, not all of them. Anyone coming through your home will certainly be accompanied by a licensed real estate agent but there's no guarantee that the agent has a contractual relationship with the buyer yet and there's no guarantee that the buyer has been pre-qualified. However, there's an unwritten expectation that the real estate broker has at least researched the buyer prior to showing the home and performed some type of due diligence on them. As the homeowner, you can most certainly ask your listing agent to require proof of funds or a pre-qualification letter from the buyer's agent upfront, but you may risk losing a legitimate buyer that may have made a last-minute trip to the area, wasn't prepared with proof of financing or didn't fully understand the process.<a id="Commissions"></a>
Real Estate Commissions/Fees
Q: How much do Realtors charge to sell my home?
A: If you're going with a full-service real estate brokerage (which you absolutely should), you can typically expect to pay somewhere in the 5-6% of purchase price range which usually covers the cost of paying both the listing firm and the buyer agent firm. Now, it's important for you to know that there is no standard commission rate or percentage. Real Estate commissions are negotiable from firm to firm and are NOT set industry-wide. With that being said, 5-6% is what I see the most often. You'll want to ask the listing agent what's included in that fee and whether it includes marketing expenses like staging, photography/media, print materials, mailings, video, 3-D floor plans, broker's open events, etc., or just their representation. And please understand that your individual agent is not making the entire commission. Your agent only receives a percentage of the company's commission (the listing contractually belongs to the brokerage, not the agent) and then usually pays for all or most of marketing expenses, taxes, etc. out of their own pocket. In the end, a good agent earns their commission and then some.
Q: Are real estate commissions or fees negotiable?
A: Yes, commissions are negotiable. While any individual firm or Realtor may or may not negotiate what they charge, fees and commissions are negotiable from an industry perspective. Trust me when I tell you that you should focus more on what the listing agent will actually do for you rather than putting all of your emphasis on saving half of a percent or so. A good Realtor is well worth their commission and then some. They are responsible for not only getting your home sold but also creating demand, negotiating the best terms for you, and getting you to the finish line.
Q: How much are the closing costs to sell my home?
A: In addition to the commissions (roughly 5-6% of sales price), you will also pay various fees at closing such as seller-prep/attorney fees, your prorated portion of HOA dues, the HOA closing/release fee, your prorated portion of property taxes and the excise tax. In NC, this excise tax (also known as a transfer tax) is usually paid by the seller in resale transactions and calculated at $1 for every $500 of the sales price. There may also be some additional misc fees charged to you at closing but these are the larger ones. <a id="Choosing"></a>
Choosing a Realtor to Sell Your Home
Q: Should I interview multiple Realtors?
A: You absolutely can and most agents would expect you to do so but it's not necessary, especially if you already have a good relationship with a Realtor you know and trust. See my next answer about what to look for when choosing a listing agent to sell your home. Should you choose to interview one (or more), this would be good information to keep in mind.
Q: What should I look for in a listing agent when choosing one to sell my home?
A: When selling your home in ANY market (buyer's market or a seller's market), you always want to look for an experienced listing agent that understands the current market conditions in your area. They should be able to provide examples of their marketing and explain how they plan to market your home so that it stands out from the competition. Ask what they do to help you prepare your home and ask if they use a stager, professional photographer, or videographer. Do they employ other types of marketing such as drone footage, floorplans, descriptive MLS write-ups, social media advertising, printed brochures, or <a href="http://14524rhodeshall.com/" target="_blank">single property websites</a>? Look for someone that will provide you with a CMA and honestly discuss pricing based on comparable properties. A good agent will be honest with you and will help you price it strategically so that your listing gets the right kind of activity. Be wary of any agent that is willing to overprice your home as they have just proven to not have your best interests in mind. More than likely, they are just trying to "win" your listing. Ask to see their <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/" data-uw-styling-context="true" data-uw-rm-brl="false">reviews and testimonials</a>, talk to them on the phone and in person to go over their process, and discuss your expectations. I wouldn't put too much emphasis on an agent that boasts about their numbers or claims to be a "top producer" as that could also indicate they are too busy to give you the personal service and attention a listing requires. Lastly, I realize commissions are important but that should be one of the last things to consider unless all other things are equal. The right agent will help you achieve better results (including more profit) in the end.
Q: Are all real estate agents the same?
A: Absolutely not and that's important for you to know. Simply having a real estate license does not give agents the skill set necessary to help you achieve the best results when selling your home. Their work ethic, level of experience, amount of effort, understanding of the market and today's consumers, communication style, and marketing expertise can vary immensely. This can easily equate to tens of thousands of dollars difference in your pocket as well as the level of stress that you do (or do not) have during the process.
Q: Will I get better results if I list my home with one of the ‘big’ companies?
A: No. When I became a Realtor in 1999, it helped to be associated with a larger firm (I actually worked with two large, exclusive firms) but the MLS has changed the way consumers shop for homes and has also leveled the playing field so that smaller independent firms (like Hendrix Properties) can market their listings in the same way that larger firms do - and in some cases, do a much better job. In today's digital marketplace, sellers should focus on the individual listing agent's capabilities rather than their company. After all, home buyers aren't looking for homes based on who the listing agent works for. They're looking for homes that suit their best interests, period.
Q: Should I consider one of these ‘Guaranteed’ or ‘We’ll buy it if we can’t sell it’ programs?
A: I would not advise it. Keep in mind that this is just a sales pitch to get into your living room and definitely not geared toward getting the best results for YOU. The way it works is that the company guarantees to buy your home from you if they can't sell it within a certain time period. The catch is they will buy it at a price that is significantly less than the current market value. If you truly want the best results, hire a reputable listing agent that simply works hard for you. No gimmicks are necessary.
Q: What makes Chad Hendrix and Hendrix Properties different from others?
A: At Hendrix Properties, we pride ourselves on being very customer-centric, detail-oriented, and doing what's best for our client's best interests, not our own. Also, we are very hands-on and consider ourselves to be more like project managers than salespeople in the sense that we develop a plan, organize the steps, and then execute with a high degree of success. We know what buyers want, we know where to find them (we get thousands and thousands on our website monthly), and we know how to attract them to your home. We work hard, don't shut off at 5 pm, are easy to reach, and do a good job at setting expectations.
Q: Okay, I am ready to sell. How do I get started?
A: The best way to get started is by filling out the form below and telling us a little about what you're considering doing. From there, we can set up a friendly and casual marketing consultation at your home so that we can get to know you and your home a little better. This is completely confidential and will go directly to Chad Hendrix's inbox. You can expect a reasonably quick reply from there.
[<a href="https://consumer.hifello.com/lp/64ee310945423900253bdba4" target="_blank">Click here for your free Home Value Estimate</a>]
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2021-11-03T08:35:00-07:002023-08-30T06:21:56-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4184Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/1188/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is Spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move to consider your home and sell for more money than you would have in the spring.2018-12-16T09:30:00-07:002019-02-11T14:50:11-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4587Selling Your Charlotte Condo for More<img src="https://assets.site-static.com/userfiles/1188/image/SellingYourCharlotteConodForMore-01.png" width="800" height="420" alt="Selling Your Charlotte Condo For More " style="vertical-align: middle;" />
How to Make Your Unit Stand Out
If you're considering selling your Charlotte <a href="https://www.housesincharlotte.com/charlotte-condos-townhomes-for-sale/" target="_blank">condo or townhome</a>, you may find it hard to differentiate your property. Most units within a neighborhood have the same layout. The only difference may be the size and number of bedrooms and bathrooms. The amenities, location, and exterior are all the same. So what will make your unit stand out? How can you get the best price?
Function
Most condos and townhomes aren’t spacious. But there are different elements you can add to maximize functionality. These elements can also add design and style. This can make all the difference in selling your Charlotte condo or townhome.
Barn doors are very popular right now. They are a great blend of function and style. Use a barn door for a bathroom that it’s already a bit tight. That way you don’t have to worry about the inswing or outswing of the door. They are also great for dividing rooms. Use them to hide storage, shelving, or laundry.
With easy to use hardware, it’s certainly possible to install them on your own. And with many different door styles to choose from, you have a range of options from contemporary to farmhouse. <a href="http://www.homedit.com/cool-interior-sliding-barn-doors/">Check out these ideas from HomedIt.</a>
Another way to maximize function is to make use of dead space. Dead space is usually taken up by items that can’t be moved because they are working parts of a home. Think water heaters, HVAC, or other equipment.
A condo we looked at recently had a hot water heater in the corner of a kitchen. This was consistent in every unit. Moving the hot water heater would have been costly. It was once covered by old cabinets. The homeowners removed most of the cabinets in the kitchen to make it bigger and more functional. They built a custom “island” in the corner to conceal the hot water heater. They turned the space into a working area of the kitchen and also added a design feature unique to their unit.
<img src="https://www.housesincharlotte.com/uploads/agent-1/SellYourCondo_ExtraImage-01.png" alt="sell-condo-charlotte" width="700" height="449" />
Optimize space
As mentioned before, space is an issue in condos and townhomes. You want everything to look bigger. Even if every unit is the same square footage, it still helps if your property appears bigger.
Back to the condo referenced earlier. As we mentioned, they did some major work to improve the kitchen’s appearance. They installed open shelving to replace the old, bulky cabinets. This provided the illusion of a larger room, while also presenting a contemporary vibe. <a href="http://www.decoist.com/kitchens-open-shelving-ideas/">Decoist offers unique ideas for modern open shelving.</a>
Keep it simple
Don’t overdesign your condo or townhome. You have only so much space so it’s not necessary to include everything you’ve ever seen on HGTV. Keeping it simple doesn’t mean you should pick the cheapest, most standard tile for your bathroom or backsplash. Because you have smaller areas to tile, you can spend a few more dollars. Subway tile will always be in style. It’s never going to look dated. White subway tile with gray grout is timeless, simple, and looks great.
Other factors
Low inventory can also be a major factor in the sale price. If there is little inventory in your area for condos or townhomes, you may benefit from being in a seller’s market. However, don’t count on this to yield you more money than what the property is actually worth and what buyers are willing to pay. It still has to appraise for that value for a buyer to secure a mortgage.
If you want to differentiate your condo or townhome, then you literally must think outside of the “box” of your unit. If there are several units for sale in your neighborhood, you’ll want yours to be at the top of buyer’s lists. These are just a few ideas from our own experiences. If you’d like more ideas on selling your Charlotte condo or townhome, <a href="https://www.housesincharlotte.com/contact/" target="_blank">talk to Hendrix Properties</a> about how we create the best seller experience.2017-08-20T14:31:00-07:002023-08-06T04:41:10-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4565What to do NOW to Prepare Your Home for a Sale LATER<img src="https://assets.site-static.com/userfiles/1188/image/PrepareNow_SellLater_HendrixProperites-01.png" width="800" height="420" alt="Prepare Home For Sale NC" style="vertical-align: middle;" />
Spring is on the horizon which means you're about to see a lot more For Sale signs popping up.
Spring is, historically, the most prolific selling season for homeowners, and homes tend to sell even quicker than normal once the temp heats back up and the flowers are out. Maybe you've been thinking of downsizing or maybe you've decided it's time to capitalize on Charlotte's historically low inventory, but if you're going to sell, you need to prepare now.
Want to <a href="https://www.housesincharlotte.com/blog/how-the-charlotte-home-selling-process-works/" target="_blank">put your house on the market</a> in a few weeks or months? Here's what you should be doing to get ready.
<img src="https://www.housesincharlotte.com/uploads/agent-1/InterviewAgents-01.png" alt="" width="750" height="267" />
Start Interviewing Realtors
No, seriously. Even if you won't be ready to list your house for half a year, choosing the right seller's agent is the single most important decision you'll make throughout the process. Now's the time to start asking friends and family for recommendations, then setting up meet-and-greets with the Realtors who strike your interest. Check out their websites, look at some of their current marketing, and take note of how well they treat you now. If you can't get a Realtor to call you back or set up plans before they get the listing, you might be even MORE disappointed once you're on the market! Here's a good list of <a href="https://www.housesincharlotte.com/blog/10-signs-youve-chosen-a-great-listing-agent/" target="_blank">things to look for when choosing a seller's agent</a>.
<img src="https://www.housesincharlotte.com/uploads/agent-1/Preinspection-01.png" alt="" width="750" height="267" />
Get an Inspection
Getting your home pre-inspected is a smart move if you hope to have a seamless sale (and who doesn't?) Hiring an inspector to show you what buyers will see is invaluable; it's better to know now if your roof is leaking than to be hit with a $5,000 reduction ask once you've got a buyer on the line. Your Realtor can help you determine which items on the repair list are must-dos and which are just nice-to-dos. Better to <a href="https://www.housesincharlotte.com/blog/13-very-important-things-to-know-before-listing-your-home-for-sale" target="_blank">hit the market with your house in tip-top shape</a> than to give buyers things to pick at.
<img src="https://www.housesincharlotte.com/uploads/agent-1/Declutter-01.png" alt="" width="750" height="267" />
Go Ahead and De-Clutter
You're going to have to do it anyway when you move! Why not take the initiative to clean out your house - your closets, the kitchen cabinets, the garage - and get rid of or donate what you don't want. Not only will you make it easier to perform necessary repairs or to stage your property properly, you'll make the house look more spacious by moving out stuff. You always want your home to be as de-personalized as possible. This provides you the added benefit of having less to pack, too, once you eventually schedule your move!
<img src="https://www.housesincharlotte.com/uploads/agent-1/HitTheMarket-01.png" alt="" width="750" height="267" />
Prepare to Hit the Market Hard
In this market, the first few weeks are critical to getting your home sold, and maybe even inciting a bidding war! There's a lot of planning that should take place before you go live on the MLS. Work with your Realtor to come up with the absolute best price for your home; too much and your home will linger on the market, too little and buyers will wonder what's wrong with it (and you'll lose out on money!) Discuss a comprehensive marketing plan for your house: Professional photos, a digital video, social media posts, and open houses if they're something you want. Those first few weeks your house is on the market should run like a well-oiled machine.<br /><br />
So, how early should you start preparing if you're thinking of selling your house this year? We suggest starting the thought process around 4-6 months before you actually want to hit the market, but as little is two months is enough to really set your home heads above the rest. The most important thing is to give yourself time to make smart, informed decisions about the professionals you work with and the way you want your house to be marketed.2017-02-08T09:30:00-07:002019-02-28T09:47:45-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4517Are the Holidays a Bad Time to Put Your Home on the Market?<img src="https://assets.site-static.com/userfiles/1188/image/ChristmasDoor.jpg" width="800" height="420" alt="Are the holidays a good time to sell your home?" style="vertical-align: middle;" />
It's a fair question.
The holidays are festive, they're cozy, and they're a lot of fun, but are they a bad time to list your home? In a word: No.<br />Despite popular belief, homes still sell well in strong markets in fall, winter, and every other season. It's true that fewer homes sell during the holiday season, but what the statistics don't tell you is that holiday-listed homes can actually sell faster and for a higher price than those listed other times of year. Here's why.
Inventory is Low
The less competition your home has, the better it will be for your bottom line. Because of the fallacy that homes don't sell well during holiday season, many homeowners wait until spring to list. That gives you a great opportunity to list and get a lot of attention. Home buyers who're looking at the end of the year are often more under-the-gun than at other times because of job relocations or school schedules. You've got a captive audience at holiday time. Use it.
The Timing is Behind You
Why are end-of-year buyers so motivated? Several reasons. They may be feeling pressure to get settled before the new year begins. They also may be hoping to take advantage of tax rebates and write offs, especially if they're first-time buyers or in the wake of an uncertain political climate. They may be more motivated to buy (and close quickly!) Traffic to your listing might be lower than it would be at other times of year, but the buyers who show up are more motivated.
Emotions Take Over
The holiday season is full of emotions. Emotions sell houses! The cozier, more festive, and more inviting your home feels, the more buyers will be able to picture themselves living in your home. If you have a fireplace, light it. Bake some cookies to fill the house with the smell of delicious food. Decorate for Christmas or whatever holiday you celebrate, but don't go overboard; you want the buyer to imagine their family celebrating the holidays there, not yours.
Take Advantage of Mortgage Benefits
Historically, interest rates tend to drop most at the very end of the year. Because of the holidays, lenders tend to be less backed up and can often process loan applications faster and get you to close sooner. Not only that, but mortgage brokers and lenders working under quota for the year may be more likely to work with buyers to hit their numbers, widening your pool of potentials.
The best thing you can do to get your home sold quickly during the holiday season is to <a href="https://www.housesincharlotte.com/contact/">hire an experienced Realtor</a>. This is not the time of year to go it alone.
Hendrix Properties knows how to get your home sold during winter - we do it all the time! Call us today to talk about our holiday marketing plan, seller incentives, and to find out why pricing your home correctly is the best thing you can do for your sale.
2016-11-21T14:15:00-07:002020-07-02T05:22:43-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4516How to Sell a Home With Pets<img src="https://assets.site-static.com/userfiles/1188/image/HowToSellaHomeWithPets_Sm.png" width="800" height="420" alt="How to sell a home with pets" style="vertical-align: middle;" />
Your pets are your world...we get it. We're pet people (specifically, dog people!) here at Hendrix Properties and we love our furry friends just as much as you do. Unfortunately, potential buyers might not feel the same way. Don't let your pets kill a potential sale!
How can you ready your home for market when you've got pets? Here are a few suggestions for making sure buyers see your home, and not your animals.
<img src="https://www.housesincharlotte.com/uploads/agent-1/PlanAhead-01.png" alt="" width="700" height="93" />
First, Plan Ahead
You'll need to do something with your pets during showings...what will that thing be? Does your animal do well in a boarding facility, or do you have a friend nearby you can drop him off with? Can you take your pet to work for a few hours? If your animal won't handle the back-and-forth all that well, consider having someone watch him for an extended period of time while your house is on the market. Keeping Fido at your sister's for a few weeks and visiting often might make him less anxious than constantly shuffling him out of his home.
<img src="https://www.housesincharlotte.com/uploads/agent-1/ConsiderPetAllergies-01.png" alt="" width="700" height="93" />
Consider the Allergic
Some people don't like cats, but some people are really, truly allergic to them. If you have cats, the last thing you want those people to do when they think of your home is sneeze and get teary eyes. If you can have someone else watch your cat for a few weeks leading up to and during your home's time on the market, that might be a good solution. That way you can work on the dander and hair while your pet is away.
<img src="https://www.housesincharlotte.com/uploads/agent-1/HandleThePetHair-01.png" alt="" width="700" height="93" />
Handle the Hair
Odds are, your pet probably sheds. If you've got a hair issue, the time to deal with it is before you list your house, not frantically an hour before a showing. Start with your furniture, where hair has likely collected over time and use a lint brush or squeege to remove it. Then, look for hair in less noticeable places: your air vents, the corners, and even on your welcome mat! You may not notice it anymore, but buyers will.
<img src="https://www.housesincharlotte.com/uploads/agent-1/DealWithPetOdors-01.png" alt="" width="700" height="93" />
Remove Odors, Stains, and Poo
Your pet smells! No really, he does. You've probably gone "nose-blind" to it but it's usually pretty easy to tell when a home has animals living in it. Do everything you can to freshen your home's scent: open windows, Febreeze fabrics, and have your carpets deep cleaned. Along the same lines, clean thoroughly anything that's got pet stains or damage like chew marks. When in doubt, throw it out! And that poo? It's in your yard, and you don't want buyers avoiding landmines in your yard. Pick it up, and be diligent about doing so while you're on the market.
<img src="https://www.housesincharlotte.com/uploads/agent-1/HaveAPetAudit-01.png" alt="" width="700" height="93" />
Have a Pet "Audit"
Think you're in the clear? Have a trusted friend come over and give you some honest feedback about how well you've done removing any signs of pets from your home. In an ideal world, buyers won't notice any signs you've got a dog or cat - they'll just see your home. Does your friend still smell an odor or did you forget to remove that huge dog crate from the laundry room?
We can't stress enough how important it is for your pet to be off the property during a showing. You may think it's far fetched, but there are even liability issues to consider when your pet is interacting with strangers inside your home. Of course, some people will love to play with your pet, but is that how you really want them spending their time at your home? Some people really, truly don't feel comfortable about animals and the sight of a pet - even a crated or gated one - might make them extremely uncomfortable. Don't be "in the dog house!" 2016-10-24T13:10:00-07:002019-10-30T14:51:12-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4514Is Your Home Priced Too High? How to Know<img src="https://assets.site-static.com/userfiles/1188/image/IsYourHomePricedToHigh.png" width="800" height="420" alt="How To Know If Your Home Is Priced Too High?" style="vertical-align: middle;" />
We get it. It’s a seller’s market out there (for now), but even in a hot market, overpricing your home can be bad business. At Hendrix Properties, we’re big believers in the data behind properly-priced homes; they sell faster and for more money than homes that are asking too much.
But maybe you’ve already signed with an agent and are on the market with a price you’re worried is too high? If you suspect you may have overpriced your home, here’s how to tell.
Your Neighbors’ Houses Keep Selling
The number one way to tell your home’s overpriced? If your neighbor's homes are going on and off the market while your home is sitting there! Particularly if you’re in a “hot” neighborhood like <a href="https://www.housesincharlotte.com/south-charlotte/dilworth/">Dilworth</a> or zip code <a href="https://www.housesincharlotte.com/south-charlotte/homes-for-sale-28277/">28277</a> (Ballantyne), your home should be seeing offers within the first few weeks on the market. Unfortunately, by pricing yourself too high, buyers see your neighbors’ lower-priced homes as a value and quickly snap them up. Oops!
You’re Not Getting Any Showings
There are only a few reasons you wouldn’t be getting showing requests in a seller’s market. One is that your home’s photos aren’t good (your agent used a professional photographer, right?), and the other is that you’re overpriced. Think of buyers searching under “thresholds.” Those are usually nice, round numbers like $400,000 or $275,000…if your home is priced above (especially just above) one of these thresholds, you may not even appear in buyers’ MLS search results. Of course, a good buyer’s agent should show them your home, anyway, but you can’t count on it.
Offers Aren’t Coming
Of course, without showings, you won’t be getting offers, but what if you have tons of showings but no offers? This clearly indicates you’re not only asking too much but way too much. Buyers know home prices are somewhat negotiable, so if they’re interested, they’ll throw out an offer to see what might happen. If they come to the table already feeling like you’re way too far apart on price to meet at an agreeable price, they may choose to avoid the negotiating hassle altogether.
You, Not Your Agent, Set the Price
Particularly in a low-inventory market, some Realtors are anxious to get more listings. In an ideal world, you and your agent will agree on a price based on data, comps, and experience. In a world where your home is overpriced, you’ll throw out an inadvertently high number, and your agent will say, “No problem!” Sellers can’t be as objective about price as agents can, so if you price your own home, you may be asking for trouble.<br /><br />
We’ve written before about overpricing your home and the stress it can bring. There’s more to selling than sticking a sign in the front yard, but remember, no amount of effective marketing will work if your home is priced too high!
At <a href="https://www.housesincharlotte.com/contact/">Hendrix Properties</a>, we’ll work with you to develop a data-driven price that’s right for your specific market and based on your home’s direct comps. Call us today at 704-343-8555 to find out how we can get your home sold fast.
2016-09-19T12:25:00-07:002023-11-08T11:05:33-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:451310 Signs You’ve Chosen a Great Listing Agent<img src="https://assets.site-static.com/userfiles/1188/image/SignsYouPickedAGreatAgent.png" width="800" height="420" alt="Best Listing Agent in Charlotte NC" style="vertical-align: middle;" />
Think a good listing agent is defined by how often you see one of their flyers dropped in your mail, how many of their signs you see in your neighborhood, or by which company they work for? Good news! You’ve got more options than you think.
We’re going to give you 10 signs you’ve found the right listing agent to represent you and your home, no fluff, no ulterior motives included.
Sign 1:
They’re likable and easy to establish rapport with. If you like an agent, odds are most other Realtors and prospective buyers will, too, and that can be the ‘intangible’ difference that matters when it comes down to negotiations.
Sign 2:
Your gut tells you that you can trust them. If your agent’s words don’t ring “sales-ey” and they actually make you feel listened to, you’re in a good spot. You’ve got to feel reassured that they’re there for you and not themselves.
Sign 3:
They’re not afraid to tell you the truth even when it may be uncomfortable or something you’re not prepared to hear. Sometimes the truth can sting a little bit, especially when it comes to an unrealistic perceived market value or the condition of your home, but a good agent isn’t afraid to hurt your feelings if it means they’ll provide you better results in the long run.
<img src="https://www.housesincharlotte.com/uploads/agent-1/SignFour_TheyHaveData.png" alt="" width="750" height="223" />
Sign 4:
They’ve got data. When a good agent gives you their opinion on how to price your home, they can actually show you how they came up with that number. Some agents will voluntarily agree to list your home at too high a price just to get your listing, but experienced brokers know everyone loses when homes are priced too high.
Sign 5:
They work with a professional stager. Staging isn't needed in all homes but most can use at least a little polishing up. If your agent put forth the extra expense and effort to help you tweak the things needed around your home to help it sell, you know you’re working with someone who understands the value of the presentation.
Sign 6:
They use professional photographers. <a href="https://www.housesincharlotte.com/blog/6-reasons-professional-real-estate-photos-are-important">Professional photography</a> can be the difference-maker when it comes to measuring up against the competition, particularly online. If your agent is taking the pictures or video themselves - on their phone, no less! - your home isn’t getting the attention it deserves.
Sign 7:
Their marketing materials are top notch. Marketing includes a lot of things: a good website, brochures, logo, digital marketing, etc. If your agent’s own marketing materials shine, rest assured they know how to make your home shine, too.
Sign 8:
Their listings sell fast. The number of days a listing is on the market is often indicative of how well it was marketed and priced. If your agent is selling their listings faster than the competition, you’re on the right track.
<img src="https://www.housesincharlotte.com/uploads/agent-1/SignNine_GoodCommunication.png" alt="" width="750" height="223" />
Sign 9:
They communicate well and are available. Good agents never forget that there is a real person behind their listing and that each home is more than just number. If you can easily get in touch with your Realtor or if you send a text or email and they get right back to you, you’re a priority.
Sign 10:
(Our personal favorite) They get straight to the point and leave out the excess “fluff.” Successfully selling a home doesn’t require sales pitches or scripts. The best listing agents know it’s all about taking the things that work and doing them better than everyone else. If your agent has to rely on a pitch to get your business, they’re likely not focusing on what really works.
Is your listing agent measuring up?
Have you been interviewing potential agents and just haven’t found one you ‘clicked’ with quite yet? <a href="https://www.housesincharlotte.com/contact/">Give Hendrix Properties a call.</a> We’re happy to talk to you more about just how easy selling your home should feel when you’re working with the right agent.2016-09-12T12:10:00-07:002019-02-23T07:41:23-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4510How the Charlotte Home Selling Process Works<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/8.5x11_infographic_final.jpg" width="800" height="1035" alt="Home Selling Process" title="12 Step Home Selling Process" />
The Home Selling Process<br />
Find a Reputable Realtor to List Your Home
Most people find a great Realtor through referrals from friends or neighbors. Don’t just call the first agent you think of, though...take some time to look at each Realtor’s website, their marketing strategy, and more, then ask for a meeting in person. The initial meeting doesn’t have to be lengthy, but you’ll want to give the broker a chance to see your home, learn a little about your motivations and goals, and give you some rough ideas on how to prep your home for the next steps. You’ll also want to give yourself enough time to get to know the agent, ask important questions, and determine whether you like their personality. You’ll be spending a lot of time talking to your Realtor!
Also important to note is to get in touch as early as you know you’ll be selling - months in advance is not too early! Don’t assume your home is ‘ready to go’ because it looks clean and tidy. A great listing agent may see room for improvement in areas you didn’t even realize buyers would notice.
Review Comparable Homes/Strategize Over Pricing
Once you’ve chosen a Realtor, they’ll prepare a CMA (Comparative Market Analysis) or at least print out a few MLS sheets of similar properties that have sold in your area. In some cases where a property is really unique and comparables are hard to find, it may be a good idea to pay for an actual appraisal. Either way, take a good, objective look at the CMA or Appraisal to understand what home buyers have paid for similar properties recently. After all, these numbers determine your home's market value. Sometimes, the broker may already have this information prepared for your initial meeting. In other cases, they may need to see the home first in order to work up a more accurate assessment. The Realtor may offer their opinion on where your home should be priced, but if not, don’t be afraid to ask. This is important to note: If you have not already signed a listing agreement with a prospective Realtor, don’t tell them anything you wouldn’t want possible buyers to know. After all, they don’t represent you until the agreement is signed.
Sign Listing Agreement and Disclosures
Once you decide to make a Realtor your official Listing Agent, notify them, and they’ll prepare a Listing Agreement and other paperwork to review with you and sign. If you haven’t already discussed these details in your initial meeting, expect to talk about how much they charge (their “commission rate,” which is often negotiable), the length of the listing period, how they’ll market your home, the duties you’ll owe each other along the way, any known defects to your home, etc. Once signed, it’ll be official. You’ll be in a contract with their real estate company to sell your home. For more details on this stage, check out our popular article on 13 things every seller should know before listing their home.
Prepare Your Home for the Market
Ideally, you’ll have started preparing your home for sale before meeting with Realtors, but now is the time to fine-tune it even if you have. You’ll want to fix any issues you know of upfront, from a broken dishwasher to a leaky roof. It might be a good idea to have a “pre-listing inspection” by a licensed inspector so that you are aware of any issues up front that you might not know of. If you decide against that route, at least spend some time looking at your home as if you were a buyer. Here’s a <a href="https://www.housesincharlotte.com/blog/21-things-you-can-do-to-your-home-to-prepare-for-your-home-inspection/">good list of things to look for</a>.
You’ll want to make sure the home looks the best it can. This may mean new paint, de-cluttering, de-personalizing, installing new fixtures, or even appliances. In most cases, homeowners can benefit from bringing in a home stager. They may decide that a simple checklist of things for you to do will suffice and accessorizing is all that needs to be done or determine that the home actually needs to be staged with furniture. This may feel like a lot of work, but it’s incredibly important and worth the effort.
Professional Photography/Videos
So, your home has been cleaned, repaired, staged, or accessorized and is basically ready for the world to see. Now it’s time to have it photographed, specifically, <a href="https://www.housesincharlotte.com/blog/6-reasons-professional-real-estate-photos-are-important">professionally photographed</a>. If your agent is walking around taking pictures with their phone or even their own camera and tripod, they’re likely not going to do your home justice. Most buyers research homes for sale online before deciding to visit, so the photos of your house will be studied, shared, and looked at time and again. So much goes into properly highlighting your home’s assets: lighting, angles, editing, time of day, etc. Don’t shortchange your home and alienate potential buyers for what is a relatively small fee. Get a professional!
Market Your Home/List on the MLS
The MLS (Multiple Listing Service) is the main database of homes for sale in any given area. Once your Realtor puts your home in the MLS, that data feed then trickles down to thousands of sites locally and around the world (think: Zillow and Trulia) and is by far the most important piece of marketing that needs to be put into place from the get-go. Your home will appear on most real estate company websites (competitor sites), national portals, and directories as a result of being in this MLS data feed. A vast majority of the time, your MLS listing will be what sells your home as it's the first place Realtors and most consumers go to look for homes for sale. However, other marketing pieces such as targeted Facebook ads, email blasts to other agents who have sold homes in your area, and blog features can really increase exposure and help your home sell much faster than the MLS listing alone.
Schedule Showings on Your Home
Now that your home is being marketed openly, real estate agents will start asking to show your home. In most markets, electronic and punch code lock boxes can be installed at your property for easy access. Agents will make appointments through a centralized showing service platform and come out to view based upon your confirmation. You’ll want to be absent during these showings for various reasons. After the showings, your agent will attempt to get feedback from the buyer’s agent (and hopefully an offer) and use that information to gauge any need for changes to the home, appearance, or marketing strategy.
Negotiate Offers (hopefully multiple!)
If everything has been done correctly regarding the preparation and marketing of your home, you should expect to get an Offer to Purchase at some point after listing. In a hot seller’s market, you may even get multiple offers! Once you do, you’ll want to carefully consider the details of each offer, such as the offer price, how much <a href="https://www.housesincharlotte.com/blog/understanding-due-diligence-and-earnest-money-on-the-nc-offer-to-purchase-and-contract/">due diligence and earnest money</a> is being offered, the proposed closing date, the pre-approval letter, etc. There are many things to consider, and the highest price may not mean the best offer. Discuss the pros and cons carefully with your agent.
Execute the Contract
In most cases, you’ll find some terms in an offer agreeable, but others you want to negotiate. By starting a negotiation, you’re effectively rejecting the initial offer and proposing a new offer of your own. If you and the buyers agree to all terms (often done verbally after the initial rejection), a new official offer can be drawn up, all parties will sign, and now you are officially Under Contract. Remember, try to separate your emotions from the business side of this process and not let it turn into a battle of wills. Shooting for a “good, fair deal” and with a calm, collected approach will serve you well; you don’t want to look back in a month and wish you hadn’t held out over what now seems like a silly issue.
Buyer's Due Diligence Period
While having a contract on your home is a great start, the transaction isn’t over yet. The buyer will likely be <a href="https://www.housesincharlotte.com/blog/21-things-you-can-do-to-your-home-to-prepare-for-your-home-inspection/">getting inspections done</a> (some call this the “second set of negotiations”), working to secure financing if they’re not paying cash, having their lender order the appraisal to determine how much they’re willing to lend, having their attorneys will be examining the title, etc. Many steps after the contract negotiations can impact the sale of your home.
Final Walk Through
The final walk-through is typically the last step before closing and is often done the day before the closing is scheduled. In most cases, a final walk-through won’t be scheduled until after their due diligence period is over, and all the issues of the deal are hammered out. The buyer will understandably want to come through your home to make sure all agreed-upon repairs from inspections were made, no damage was done to the home in the moving-out process, and to have one last look. This can be both an exciting and nervous time for buyers! Even though you’ll be dealing with your own stresses, you’ll want to make this step as easy as possible for the buyer. Try and give the home a good cleaning, arrange to have your things moved out earlier in the day, and give them the space they need to process the purchase they’re making.
Close!!
To close on the home, you’ll be signing paperwork via a closing attorney. In most cases, you’ll go to the attorney’s office, where you’ll be guided through all the paperwork, usually in a different room or at a different time than the buyers themselves. In some situations, you may be able to sign ahead of time with no need to come to closing at all. Once all paperwork is signed, the attorney will arrange to record the new deed and any other paperwork. At that point, it’s official...you’ve sold your home! Congratulations!
If you're considering selling your home, you can start by using our <a href="https://consumer.hifello.com/lp/64ca8079fb632300251eec5c" target="_blank">Free Home Value Report</a> tool or fill out the form below, and we will be in touch.2016-08-17T11:20:00-07:002023-09-12T06:25:40-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:447313 (Very Important) Things to Know Before Listing Your Home for Sale<img src="https://assets.site-static.com/userfiles/1188/image/ThingsToKnowBeforeListingYourHome.jpg" width="800" height="420" alt="ListingHomeForSaleNC" style="vertical-align: middle;" />
I often sit back and try to imagine what it would be like if I were just a homeowner without the knowledge that I have as a Realtor and wanted to sell my own home. What would I do? Who would I call? Where would I price it? Where would I even begin? Technology is constantly changing the real estate market, making it more and more overwhelming every day. I want to take the mystery and confusion out of selling your home and put everything in simpler terms. As I sat down to write this guide I thought of 13 things I really wanted you to know, because they’re what I’d want to know if I were about to sell my house. You’d be surprised how many agents either wouldn’t want to tell you or wouldn’t know to tell you several of these items, but I believe an educated seller is the best kind there is. <br />
Pricing your home high will not bring you a higher purchase price! <br />
Consumers are smarter and savvier than they’ve ever been thanks in large part to all the digitally-available information out there. However, I still see home sellers (and agents!) pricing homes high thinking that it will bring a higher price. Folks, don’t you think that consumers and especially their agents know what the home is actually worth? Would you knowingly overpay if you were the buyer?
By overpricing a home, you risk losing out on possible buyers who aren’t searching in the price range you’re listed in, and buyers may make assumptions that you’re an unreasonable seller. You could be inadvertently creating more time spent on the market for your home, and possible appraisal issues IF you can actually find a buyer willing to overpay. The wise thing to do instead is to price your home at a good, fair price. In the case of a seller’s market, you could even create a bidding war which will could either drive up the price a little more or, at the very least, bring you the buyer with the best conditions.
Know the factors that contribute to the value of your home. These factors will help you determine the appropriate listing price based on other homes available in your area. Make sure to weigh all the factors, not just focus on the best features. Pricing your home incorrectly can also affect a variety of factors like the volume of traffic, loss of buyers, time on market, and possibly even the appraisal.
<img src="https://www.housesincharlotte.com/uploads/agent-1/Pricing-01.png" alt="" width="631" height="415" />
You Do Need an agent to sell your home. <br />
Now, I’m not saying it’s impossible to sell your home on your own but a good listing agent can make a world of difference for you. They can help ensure a higher price, shorter selling time, provide assistance with legal documents, avoid common pitfalls, etc. It’s just not worth it. The following statistics say quite a bit:<br />- 92% of homes sold are sold by an agent, versus just 8% for those listing FSBO (for sale by owner).<br />- Homes sold by an agent receive 18% higher closing price than those sold FSBO. <br />- 12% of FSBO sellers say they struggle with understanding and completing the appropriate paperwork.<br />- 6% of FSBO sellers admit they struggled with things like pricing the home, preparing the home for market, and time management during the sale.<br />- 18% of FSBO sellers say they struggled with selling the home during their expected time frame. <br /><br />
Not all Realtors are created equal. <br />
Sure, anyone that passes the state real estate exam maintains all academic requirements and joins a local MLS board can sell your home. But just like in any profession, people make the difference. Some Realtors will naturally have a deeper understanding of what it takes to sell your home. Some may have more experience than others or a better work ethic, or simply a better personality. If you can find a Realtor that has everything you were hoping to find, you’re on the right track for a successful home sale. Otherwise, your home may stay on the market longer, you may get a lower price, or you may just hate every minute of the selling process altogether. <br /><br />
A quality listing agent is not defined by the company they work for. <br />In other words, “Joe Blow” from National Real Estate Company may be no better than “Jane Doe” from Local Boutique Real Estate Agency.
As a matter of fact, it may be quite the opposite. Big companies don’t grow unless they grow their agent base. They grow by having good hiring practices, having “tools” and training that appeal to agents and having a brand name that gives confidence to their agents. What no firm (big or small) can teach is work ethic, character, experience, or the ability to simply get the job done. The point is, don’t get caught up in the name of the company the agent works for because it makes no difference to you as a seller. I know some pretty awesome Realtors (and unfortunately some not-so-great ones) from both big and small firms. It’s all about choosing the right Realtor for your needs.<br /><br />
What you see if typically what you’ll get. <br />
Successfully selling a home requires a good mix of marketing, executing, and customer service. As you look around at one or more agents to possibly list your home, check out their website. Is it well put together, informative, easy to navigate? Or is it outdated and in need of work? Get testimonials. What kinds of things are people saying about that agent? Look for examples of their marketing efforts such as virtual tours they’ve done of past listings. Does it appear that they’re using great photography and up-to-date technology? Even in 2016, I could randomly pick any 10 listings off the MLS and bet you that only 3 or 4 of them have professional photographs. What you see is usually what you'll get. Open your eyes and observe before you sign.<br /><br />
Home staging is a great investment.
Believe it or not, “home staging” wasn’t a term I had ever heard of when I started selling homes back in 1999. Back then, it was simply about “making your home look nice” or “preparing your home for sale.” But now, accredited Home Stagers exist that specialize in making your home look the best it possibly can. In many cases, a stager will come out for a consultation for $75-200 and give suggestions on how to de-clutter, organize, or use what you currently have to make the home look nice. In other cases, the home stager may need to bring more modern furniture out to help buyers see past dated decor. Depending on the number of rooms that need staging, this can usually be accomplished for several hundred dollars or more but is so worth it. If you’re trying to sell your home for the highest amount of money and shortest time on the market, staging is not something you should be scared of. I work with the best in the business and can say without a doubt that home staging is worth every penny of its investment and more.<br /><br />
Use Professional Photography for your online listing and marketing. <br />
Consider this: you’ve worked hard to get your yard looking great, painted your front door perhaps, deep cleaned your home, even staged it, and then your Realtor shows up and starts taking photos with their smartphone, tablet, or personal camera.
I see it all the time...While smart devices can do some pretty amazing things nowadays, they’re no substitute for true professional real estate photography. The professionals understand things like creating proper lighting, color balance, knowing the right angles, correctly framing the shots, creating focal points, highlighting the best characteristics, quality photo editing techniques, the importance of quality equipment, and more. Photographs are often the buyers very first impression of your home, so don’t you want that first look to be high quality and impressive to entice buyers to your home? A professional is able to create quality images that really showcase your home, they are not just taking shortcuts to get the job done.
There’s so much more to it than just snapping photos. Your home will be displayed on websites all over the country so don’t take shortcuts and don’t allow your Realtor to either. <br /><img src="https://www.housesincharlotte.com/uploads/agent-1/ProfessionalPhotography.png" alt="" width="750" height="563" /><br />
Curb appeal can be the difference-maker<br />
This one is pretty self-explanatory but being that I don’t see it stressed enough, I want to reinforce it. The outside of your home is typically the very first thing that people see. Your plant beds, lawn, and front entrance, all need to be perfectly manicured, edged, and welcoming. When the curb appeal looks considered, it’s a pretty darn good indication that the inside of the home has been well cared for, too. And even if it means paying to get a landscaper out to help you, I’m suggesting that you find a way to do that.
Think about the way today's internet shopper is viewing homes. The vast majority of homes for sale use the front of the home as the first picture, so it’s the first thing internet viewers see. If they don’t like the first picture, they may scroll right on to the next listing.<br /><br />
A specialized agent might not be the best choice. <br />
If you’re currently living in a subdivision or niche area, you’ve probably seen several agents who constantly send you marketing pieces in your mail or newspaper box claiming to be the neighborhood expert, throwing stats and pictures of past listings at you. These are all efforts to keep their name in front of you so that you’ll think of them when it’s time to sell your home, but it’s more about marketing themselves, not your property. So, let that be your main focus, not just what someone claims. <br /><br />All agents have access to the same data that is needed in order to determine the true market value of your home whether they’re a neighborhood “specialist” or someone from across town. Choose the kind of agent that I talked about in #3 and #5 whether they’ve ever sent you a postcard or not.<br /><br />
“Open Houses” don’t sell your home. <br />
I could possibly get run out of town by saying that, but it’s true! Think about it. If you’re looking to buy a home, are you going to ride around endlessly looking for open house signs with pretty balloons attached to them or are you going to hop on your computer or smart device and go straight to the best and most accurate source for homes for sale? I’m not saying that it never happens or can’t happen but common sense should tell you that it’s highly unlikely. The truth is, agents typically hold open houses to both appease the seller but also to attract some curious buyer prospects, ultimately turning them into clients. All while allowing complete strangers to roam through your home! Please keep in mind that I’m only speaking about the Charlotte region as a whole. Other localities may not utilize broker reciprocity or list all homes on the MLS as their common practice, but in Charlotte we do. Forget this practice and focus on the things that DO work.
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Know how to sort through the fluff when finding an agent.<br />
Agents trying to earn your business or get your listing will often throw some stats or bits of information your way to convince you they’re the one you should go with. By no means am I suggesting that stats are a bad thing but it’s important to take them with a grain of salt and focus more on HOW the agent is actually going to get your home SOLD. When I was new to real estate, we were often encouraged to say things such as “our company is #1 in the southeast” or “if we sell one of our own company’s listings, we’ll earn more commission and therefore our agents will work harder to sell your home.” None of that stuff mattered then and it doesn't matter now if they agent who is listing your home isn't putting the right things into place. <br /><br />
Understand how the digital age has changed the way your home is marketed. <br />
Twenty years ago, if your home were listed with an agent a picture and description would be in a really thick book and would be kept in the real estate office for agents to look through. I’m not kidding...a book! Eventually, the MLS (multiple listing service) actually became computerized so agents could view listings on their local office network computer. And then came company websites. Any given real estate company could now list all of their own listings on their own websites and you could view them online. And if you wanted to see listings with another company, you’d hop over to their site and on and on. But the big game changer was when “broker reciprocity” came about. With broker reciprocity, real estate companies and their agents could show other company’s listings on their sites as long as they were willing to allow other companies to do the same with their listings. So, what does this mean? Well, no matter what agent or company site you go to nowadays, you’re actually searching for everything on the market that’s listed on the MLS regardless of who the real estate company is. These listings are the result of a direct data feed straight from the MLS. Now consumers truly have vast amounts of information at their fingertips and homes are not just shown on one website but literally thousands, from local sites to the national portals. With that being said, I’m sure you can understand how preparing your home, staging it, taking the best photography, etc., are more important than ever.
<br /><br /><img src="https://www.housesincharlotte.com/uploads/agent-1/RealEstateInTheDigitalAge-01.png" alt="" width="600" height="452" />
A good agent is worth it!<br />
I totally understand that the thought of paying a real estate company to list your home seems like such a large expense but keep in mind that when an agent truly does it right, there’s so much more to the equation than meets the eye. The marketing alone can be the difference between top dollar and average dollar; at Hendrix Properties, we literally put hundreds of dollars into a listing before it even goes on the market. Properly pricing a home (or not) can help a home sell faster. Good or bad negotiating can convince buyers and their agents of home’s value or even cause a deal to fall through if delicate issues pop up. Managing the transaction all the way through and dealing with inspections and various other things that often come about is a pretty crucial element of an agent’s job as well. And don’t forget about half of what you pay a real estate company to list your home typically goes towards paying the buyer’s agent, or whoever procures the buyer. Now, are all agents worth their pay? Nope. But, I believe a good one typically is.
Selling a home can be an incredibly important step in your life on many different levels and can also be an emotional one. Whether you choose to list your home with another company or put your trust in our hands here at Hendrix Properties, I want you to achieve your goal and believe that it starts with having a full understanding of what it takes.
If you have questions about any of the topics we covered here, or selling your home, in general, feel free to call or text me at 704-737-4400 or just shoot me an email at <a href="mailto:Chad@HendrixProperties.com">Chad@HendrixProperties.com</a>2016-03-27T13:15:00-07:002019-05-17T04:29:42-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4452How Do Real Estate Agents Get Paid?<img src="https://assets.site-static.com/userfiles/1188/image/adult-american-business-1059122.jpg" width="800" height="420" alt="Real Estate Agent " style="vertical-align: middle;" />
Well that's the million dollar question, isn't it?
Before I even get into this, I want to clarify and stress that there is NO standard or set commission structure. Real estate commissions are negotiable, not set by any government or organization, not agreed upon by local boards, etc. Every company has its own policies and can charge whatever they choose to charge. And even within certain companies, agents may also even have the flexibility to charge what they want as well. In addition, the structure of payment may differ from one region to the next. There is absolutely NO price setting in real estate.<br /><br />In this article, I’ll be discussing how listing agents and buyers agents typically get paid as is fairly customary in the Charlotte, NC region and I’m sure much if not most of the rest of the country as well.
How do listing agents get paid?
So let's say John and Jane Seller want to sell their home. They can go one of three ways. They can try and sell their home without a listing agent (“for sale by owner” or “FSBO”), they can sell their home using a “discount real estate agent or discount broker,” or they can go the “full service” route.
With the full-service route which is essentially what you get when you hire a traditional real estate agent to help you find a home, agents will often charge between 5-7% (let’s just say 6% for the sake of simplifying it but again, there is NO standard) of the purchase price. With that 6%, the listing company (the seller's agent) is expected to help with pricing, preparing home to be shown, marketing it, contract negotiation and handling, etc…full service. Now, out of that 6%, 3% of it is typically offered to whichever company procures/brings the actual buyer. Example. John and Jane agree to list their home with ABC Realty for 6%. The home will be listed at $200,000. ABC Realty offers to compensate whichever company brings the buyer 3% of that (ABC Realty decides what to offer buyers agents but 2.5-3% is often seen). Pretend Realty comes along with one of their buyers who loves the home and buys it. n this example, ABC Realty grosses $12,000 (6% x 200K) and out of that, turns around and pays/compensates Pretend Realty $6000 ( 3% of 200K just as they publicly offered on the MLS), leaving ABC Realty with $6000 for their share. The contract to list the home was between the sellers and ABC Realty and that’s why initially ABC Realty received the entire 6%.
Now, what if ABC Realty had not only listed the home but found the buyer for it too? <br />Well, since the listing contract was for 6%, ABC Realty would make $12,000 and would not need to pay any of that out to another company because it was ABC Realty who found the buyer and not another real estate company. In many cases, there may be an agreement within the listing contract that addresses this. If ABC Realty lists the home AND finds the buyer for it as well, the total commission will be 5% instead of 6%, hypothetically.
It’s important to note here that payment always goes to the real estate company. <br />From there, the agent for each company is paid based on whatever agreement they have with their brokerage. People often think that the Agent makes All of that 3% or 6% or whatever but they’re actually only getting their “split” which could be much less. There could be referral fees on top of that which could reduce the agent’s portion to an even lower amount.
If John and Jane Seller went the discount broker route, they might have an agreement to pay a flat fee to the listing agent + an amount to be offered as compensation to whoever brings the buyer similar to the full-service route. <br />Using a discount broker often means that the seller pays a flat fee such as $500-$995, for instance, to have their listing placed on the MLS but they may be limited to only that service while having to provide their own photos, negotiate their own contract, etc. Being that most listings on the MLS are offering to compensate buyer agents 3%, the sellers may still offer that as well in an effort to compete with other listings even though they’re trying to save money on the listing end of it. <br /><br />In cases where the sellers are trying to avoid paying to list the home altogether and sell it themselves by going “for sale by owner”, they’re not agreeing to pay anything to a listing company. However, they may or may not still be offering to compensate a buyer’s agent if they bring a buyer along which is typical in real estate transactions.
How do Buyer’s agents get paid?
Buyer’s agents are typically paid when they help a buyer find and purchase a home. The vast majority of the time, they are paid by the listing company representing the seller of the home that their buyer purchases. In our market, you’ll most often see listing companies offering 3% to whoever brings the buyer and therefore, that’s what the company who brings the buyer usually makes. The actual buyer’s agent gets their “split” from there.
What if a buyer agent’s client buys a home in which the listing agent was only offering 2.5%?<br />Well, that depends on the agreement the buyer’s agent had with the buyer client. In some cases, the buyer’s agent may not have an actual agreement with the buyer but instead is simply showing them homes and acting as a “subagent of the seller”. In that case, this agent is probably limited to only receiving the 2.5% or whatever was offered by the listing agent. (If you're being shown homes by an agent but you haven't signed anything this is probably the arrangement you're under.)<br /><br />In most cases, however, an agent and a buyer will have a “buyer agency agreement” which is essentially a contract for representation between the agent and buyer. In this case, the compensation is spelled out right in the contract. Take a look here at what our contract says:<br /><br /><br />COMPENSATION OF FIRM.
(a) Firm acknowledges receipt of a non-refundable retainer fee in the amount of $_________________which shall 0
shall not 0 be credited toward any compensation due Firm under this Agreement.
(b) Buyer agrees that Firm's fee for services hereunder shall be in the amount of 3% of gross purchase price
("Fee") (Insert dollar amount, percentage of purchase price, or other method of determining Firm's compensation for each type of
property the Buyer may purchase, such as resale, new construction, land/lot and/or unrepresented seller. Do not insert N/A or a
zero ($0)).
(i) Firm shall seek the Fee from a cooperating listing firm (through the listing firm's offer of compensation in MLS or
otherwise) or from the seller if there is no listing firm, and Buyer agrees that Firm shall be entitled to receive same in
consideration for Firm's services hereunder.
(ii) If Buyer purchases property where the compensation offered by the listing firm and/or seller is less than the Fee, or where
no compensation is offered by either the listing firm or the seller, Buyer and Firm agree that Buyer will pay the difference
between the Fee and the compensation offered unless prohibited by law. Firm will timely inform Buyer if the
compensation offered is less than expected.
<br />Now, in this example, the agreement stated that the buyer’s agent would be paid 3% for his/her services. Since the cooperating listing firm (see i.) was only offering 2.5%, technically the buyer owes the buyer agent’s company an addition .5%. However, you’re very likely to see that amount just slide and for the buyer’s agent to be content with whatever was offered through the MLS and cooperating listing firm.
I hope this gives a little clarity to understanding how real estate agents get paid. It can be confusing! Still have questions about how real estate agents do what they do? Call us. We love to talk shop.2014-12-17T14:35:00-07:002020-07-02T05:27:47-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4447When Is The Best Time To Sell My Charlotte Area Home?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/for_sale_gray_house.jpg" width="800" height="420" alt="For Sale Charlotte" />
Is there a more asked real estate question than this one? Most consumers and Realtors alike have always been under the impression that selling during the spring and summer are better than late fall and winter but how many have really studied the numbers as opposed to simply passing on that standard answer? Well, I did and wish I had done it sooner.
Crunching The Numbers On Seasonal Selling
I had a Charlotte client (a future seller) ask me recently if it’s better to go ahead and put his home on the market now or wait until spring. My initial response was that there are always buyers out there, by listing it now there will be less competition, and that no matter when we list it, we’ll get him top dollar and sell it faster. But, that started bugging me. I wanted to dig into it deeper because that’s a very important question that needs a very accurate answer.<br class="kix-line-break" /><br class="kix-line-break" />So, I decided to use the year 2013 as the basis of my “study”. I also wanted some fairly large sampling sizes so I took 4 popular areas in the Charlotte region including the Lake Norman area, Union County, South Charlotte, and Cabarrus County. I then broke the results up by quarter (you know, Jan-Mar, April-June, July-Sept, Oct-Dec) and decided that I’d run the numbers to see how many homes actually sold during each quarter. In each of the 4 examples, fewer homes closed in the 1st quarter than any other quarter. We can stop there, right? Well, no….that likely means that fewer people listed their home during winter which really doesn’t answer the big question. So, digging a little further, I wanted to see what the average sales price was for each quarter and guess what? Yep, the average sales price was also lower for homes sold during the 1st quarter than any other quarter.
Cabarrus County seemed to have some pretty sound and consistent numbers. The average price ranges are a little lower than the other samplings so perhaps it just has the appearance of being more consistent.<br class="kix-line-break" /><br class="kix-line-break" />The Lake Norman area also has some really consistent numbers…the kind of numbers one might expect going into this. <br class="kix-line-break" /><br class="kix-line-break" />The Union County sampling (Waxhaw, Weddington, Marvin, and Indian Trail) confused me a little bit because the average sales price for the 3rd quarter was drastically higher than the other 3 quarters and I can’t explain why.<br class="kix-line-break" /><br class="kix-line-break" />And South Charlotte had a steady increase in averages sales price throughout the year. It’s also thriving so I’m not the least bit surprised.
So What's the Bottom Line?
Again, in all of these examples, fewer homes were sold in the 1st quarter and the average sales price was lower as well. So, when is the best time to list your home? Well, probably not in November or December (Charlotte area Realtors, please don’t shoot the messenger!). But then again, I listed a waterfront mansion on Lake Norman December 15th of 2012 and within a week had found the buyer that eventually bought it. So, you never really know.
Don't let these numbers deter you from listing your home if you're ready. There are actually plenty of really, really good reasons the holiday season is a great time to put your home on the market in Charlotte:
There's always less inventory this time of year which could make your home stand out
People are anxious to cash in on end-of-year tax incentives for home buying
There are always people on the market. New jobs start Jan. 1, parents want to move over the Christmas holidays, people's leases end.
The key to listing your home any time of year and having a great response is pricing it correctly. An overpriced home in the dead of winter is probably going to sit on the market longer than an overpriced home in spring...those are just facts! If you use the right agent, market your home appropriately, and price it right you'll be able to find a buyer no matter what month it is.
Bottom line, if you’re contemplating selling your home, let’s at least go ahead and discuss and prepare. Getting one step ahead of Charlotte's active spring market could make the difference in multiple offers and a stale, lingering home. That preparation starts now. I’ll give you the best guidance and advice I can and am eager to work around your schedule. So, <a href="https://www.housesincharlotte.com/contact/">contact me.</a>2014-11-18T14:14:00-07:002020-07-02T05:31:56-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4409How to Choose the Right Listing Agent<img src="https://assets.site-static.com/userfiles/1188/image/adults-business-connection-1181715.jpg" width="800" height="420" alt="Choosing The Right Listing Agent Charlotte NC Realtor" style="vertical-align: middle;" />
Did you know only about <a href="http://blog.redfin.com/blog/2014/04/1-in-4-homeowners-have-buyers-remorse.html#.U_tnU_ldVgI" target="_blank">47% of people</a> say they "loved working with" their real estate agent?
Consider all the other service-oriented pros you patronize: doctors, lawyers, dry cleaners. A lot of variables go into whether or not you have a good experience or become a long term client of any business professional, and it's the same for brokers too.
Choosing a listing agent can feel really overwhelming. Everyone has a suggestion and a simple online search for "local real estate agents" can bring up thousands upon thousands of conflicting results. So how do you make the very important decision about who you ask to help you sell your home? If you ask us, these are a few things to weigh very, very carefully:
Get the Right Recommendations
Everyone knows a real estate agent (or six), and everybody's got an opinion. That's great! But what you don't want to do is put too much stock in any one recommendation, and you want to make sure you're vetting potential candidates from day one. Ask people you already know and trust - and who have had similar home buying/selling experiences to your own - to give you a recommendation. Also be sure to ask pointed questions about their suggestion: What would you change about your agent? <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/" title="Hendrix Properties Testimonials" target="_blank">Would you use them again?</a> And try to be objective about their report. Did they fault an agent for being too chatty rather than concern themselves with her business acumen, for example? Lastly, remember that with recommendations come the opposite. Ask people you know if they've heard or experienced anything negative with a local agent. It's important to know if someone regretted their decision to use a particular agent and why.
Determine the Experts
For many years, real estate was an easy part-time profession - agents were the only way people found and sold houses! Thanks to the internet agents are working overtime to continue being a valuable part of the selling experience. You want to trust the biggest business transaction of your life to someone who practices real estate full time and more importantly, is an expert in relevant areas whether that's a neighborhood, among your construction style, or even for a particular demographic. On the flip side, never choose a listing agent simply because they're the 'default' agent in a particular area. Odds are you'll just become One More Listing and likely won't get the personalized service you're looking for.
Interview the Candidates
Good real estate agents understand and appreciate your <a href="https://www.housesincharlotte.com/blog/home-selling-frequently-asked-questions-faqs/">desire to interview them</a>. Don't worry about wasting anyone's time or offending an agent; interviewing several before you make your decision is a critical part of the home selling process. You'll be able to get a good feel for the agent's personality - Are they funny? Too quiet? Very professional? - and see if you mesh (which is important given the amount of time you'll spend dealing with your listing agent!) You should also have a list of specific questions prepared, and do a lot of listening as well. You don't necessarily want to choose the agent you like the most, you want to choose the one you feel will get you the most money for your home in the shortest amount of time.
Ask About their Tools
A lot of people don't realize there are subtle but important differences between firms and agents. There is no standard rate for real estate commissions and you shouldn't expect every agent's going to pay for printed materials, open house refreshments, or even the sign in your yard! You also want to know as much as possible about the agent's tools, and you should ask about any listing agent's marketing plan. Do they have a customized backend software system you can follow along with? Are they doing anything to market your home that competitors aren't like using social media or blogs? What are their feelings about professional real estate photography and staging, and who pays? All of these are great questions to ask.
Odds are, the agent for you is probably not the agent who takes every listing thrown their way. Good listing agents are as selective about their clientele as they are professional, understanding that their value-adds may not be right for a certain property or seller. And that's okay! There's a niche for every real estate agent and one or every seller. Sometimes figuring out where your needs and a Realtor's offerings overlap is the hard part but if you take your time and trust your gut you'll likely be happy with the outcome.2014-08-25T09:39:00-07:002022-06-03T06:44:25-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:440821 Things You Can Do to Your Home to Prepare for Your Home Inspection<img src="https://assets.site-static.com/userfiles/1188/image/apply-blue-brush-221027.jpg" width="800" height="420" alt="Preparing Home Prior To Inspections " style="vertical-align: middle;" />
When selling your home, there are 3 important parts of the of the process that can often become hurdles.
The initial negotiations over price and terms
The buyer's loan process and securing a loan
The home inspection process in general.
In this article, I'd like to address the home inspection process and things that can be done to make this big step go a lot smoother.
Once a buyer and seller go under contract on a home, the buyers will typically schedule a home inspection (either on their own or through their Realtor) to be done withing the first 2-3 weeks. Once the inspection is complete, the buyer will usually come back to the seller with a list of items they're requesting to be fixed, replaced, or looked into. As the seller, wouldn't you like that list to be really short and painless? Also, don't you any buyer would be relieved when the report is initially given to them and instead of umpteen pages of "problems", it's actually much less?
Well, here's what you can do to make your life and your transaction a little easier and more secure. Be proactive and address issues around your home before the inspector even shows up!<br /><br />Below is an incomplete list of things you can do to prepare for the real estate home inspection based on things commonly found on inspection reports. Take matters into your own hands! Based on my years of experience, it's always best to do these things before you even put your home on the market as part of the staging process.
<br />Home Exterior
1. Ensure all trees and bushes are trimmed away from the home. <br />2. Remove mulch or dirt from contact with siding by 6 inches or so. Also, while you're at it, ensure all grading is sloped away from the home.<br />3. Clean gutters of leaves and debris.<br />4. Wash all exterior windows and even skylights if you're able. Inspectors will want to be able to check windows for broken seals, and if windows are dirty, they'll often suggest that windows need cleaning so that proper inspection can be done. <br />5. Give your trim a fresh coat of paint (preferably before putting your home on the market), and make sure that any rotten wood is properly replaced and that all necessary caulking is done to prevent water penetration. (Trust me, this is so common to see on inspections that it's truly refreshing when there are no issues.)<br />6. Look for any holes in the siding and make sure they're patched or caulked. Lawnmowers can often throw rocks into the siding, which creates holes. Check gaps where certain pipes/hoses enter the home to ensure they're properly sealed to prevent intrusion by water, insects, etc.<br />7. If you have brick steps, make sure all masonry is pointed up.<br />8. Ensure any rails along steps or porches are secure and sturdy.<br />9. If you have any gates, they should latch properly.<br />10. Remove any excess wood (firewood, scraps) from too close to home, particularly if it's in contact with the exterior.<br />11. If you haven't had an HVAC checkup or inspection lately, you might consider having your installer out for a general checkup. It may also put the buyer at ease to know that you're taken steps to make sure those major systems are in good working order.<br />12. Check to ensure the crawlspace is dry and a proper vapor barrier is in place.
Home Interior
13. All doors should shut and latch properly, and all locks should easily engage. Some WD-40 might come in handy for any tight locks.<br />14. Check for loose receptacles and tighten them.<br />15. Test all smoke and carbon monoxide detectors to ensure they're in safe working order.<br />16. Secure all stair rails and railing along the catwalk if applicable. These should never be loose or wobbly.<br />17. Replace any burned-out light bulbs, make sure all lights are working, and test any ceiling fans while at it.<br />18. Look for gaps in caulking, particularly near sinks and showers/tubs, and re-caulk where necessary. You should probably consider re-caulking the shower/tubs to have fresh, clean caulk. Buyers will eventually be using that same shower, and they'd much rather not have to look at dingy, dark, mildewed caulk from prior owners.<br />19. Take a look at every window in the home. Look for broken seals (cloudiness, moisture between panes), and cracks in glass, and ensure that all windows open and shut properly with no loose tension springs.<br />20. Go to each bathroom and ensure all faucets are secure, hot/cold handles produce appropriate temperature water, and that toilets are secure to the floor.<br />21. Replace air filters throughout the home. A dirty air filter can often indicate how well the home was taken care of, so don't give buyers a reason to assume otherwise.
While doing these things won't mean a spotless inspection report, you'll surely cut way back on what an inspector may find. It will also cut back on the work you'll need to do later in the transaction, show some pro-activeness on your end, and hopefully help to put the buyer at ease!
I'd love to hear any thoughts from you and especially if this list actually helped you along in your own transaction. What did I miss? What minor issues have you dealt with in past home inspections?2014-08-05T13:58:00-07:002023-08-09T05:46:17-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:43686 Reasons Professional Real Estate Photos are Important<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Camera_Lenses.png" width="800" height="420" alt="Professional Protography Camera Lenses" style="vertical-align: middle;" />
It should come as no surprise that photographs are a critical part of real estate marketing.
Now that every home on the market is accessible with just a few clicks of the mouse it's more important than ever to show a house in its best light - first impressions are everything in real estate.
Smart, focused real estate brokers understand the importance of using a professional photographer to highlight a home's best assets and minimize its flaws and there are lots of statistics to back up the value that comes from marketing a home using professional photos. Here are just a few of the ones we think are the most eye-opening:
Studies show that online listing with professional photographs gets up to 139% more click-throughs than similar homes using amateur photographs.
Online buyers say photographs are the #1 thing they want to see when they're looking for homes online and almost 100% of these buyers say photos are either "very useful" or "somewhat useful."
Participants in studies pitting professionally-photographed homes against similar, non-pro photographed homes say the professionally done homes are worth almost 13% more (though in reality, there's no significant difference.)
In those same studies, participants respond that they're over 7 times more likely to visit the homes with professional photographs than those without.
Homes listed for $300,000 and up are statistically more likely to sell when marketed with SLR photos (as opposed to point-and-shoot photography.)
Various reports say that professionally-photographed homes sell between 2 and 4 times faster than homes without professional photos.
Still not convinced? Take a look at the examples below of homes photographed using inferior cameras (i.e. cell phone cameras, point-and-shoot cameras) juxtaposed against their professional counterpoints:
The good news is, there are real estate firms out there who include professional photography with every listing they take on<a title="Hendrix Properties" href="https://www.housesincharlotte.com/">.</a> That's just smart business! Before you choose a real estate firm to list your home, consider what kind of value you're looking for and what's important to you. We think professional photography should be on that list.2014-04-24T13:34:00-07:002023-07-13T05:41:02-07:00Chad Hendrix