Selling a house takes longer than you think
I get it, when you’re ready to sell your Naples home, you’re ready to sell. But selling a home takes time and many underestimate just how much time it takes. Not only do you have to consider the average time on the market for your neighborhood and price point, but also the time it takes to prepare … getting your home ready, having professional photos taken, placing it on the local Multiple Listing Service, and generally getting the word out via ads, postcards, emails, etc. Then there’s the negotiation when you do receive an offer, which can take several days, and the preparation to close, which generally takes anywhere from 30 to 45 days,and possibly longer.
“Prequalified” means nothing; “Preapproved” carries more weight
Serious buyers get preapproved for a loan, meaning they’ve applied for the loan, the bank has verified their financial information, and the bank has approved a certain loan amount at a specific interest rate.
Smart Realtors will still call the lender to verify that that buyer is preapproved for the necessary amount and that the lender will have no problem closing in the expected period of time.
Hold off on spending sprees until after the closing
I know you are eager to start buying furniture, or maybe a boat because you are under contract to buy your first Naples waterfront home, or put a down payment on that pool you’ve always wanted, but don’t do it. The loan process is just the start of buying your Naples home, not the finish line. Just before closing, a lender will re-examine a buyer’s financial situation with a recent copy of his or her’s credit history. If there have been any changes — salary decrease, higher credit card balances, new lines of credit, mysterious bank deposits — you could get hit with a higher interest rate or lose the loan altogether.
Your home’s appearance really is important
It’s critical that sellers put themselves in the role of the buyer and try to see their home through a buyer’s eyes. Unmade beds, laundry on the floor, dishes in the sink all leave a first impression on a buyer that can be difficult to overcome. Also, a house that smells good is critical. Sometimes you have to walk out of your home for a bit and walk back in to really get a sense of how your home smells.
When buying new construction, go with your Realtor
It’s true, you can go to a sales center and buy a new construction home in Naples without a Realtor, but using a Realtor in any real estate transaction only helps you. Yes, the on-site builder sales reps provide you with valuable information, but it’s important to remember that they represent the builder and the builder’s interests. Having a Realtor by your side means that you have someone representing your interests, helping you navigate the new construction contract, understand specific clauses, riders and upgrade options, and making sure you know what you need before you sign.
If you sell your house yourself, a Realtor may not show it to their buyer
If you choose to go “for sale by owner,” a Realtor representing a potential buyer may not show your home because unless you agree to pay the Realtor a commission, the Realtor will not get paid. Think about it … the Realtor will likely end up doing the work on both sides of the transaction because most for-sale-by-owner sellers do not realize all that’s involved with getting a contract to a successful closing. A smart Realtor will do all he or she can to find the right home for his or her buyer and that will require discussing the commission with the for-sale-by-owner seller prior to showing the home to the buyer.
We don’t make as much as you think
Yes, Mr. and Mrs. Seller, the full commission is subtracted from your bottom line, but your Realtor is not collecting that full amount from you. Unless your agent is handling both sides of the transaction, he or she is splitting that pay with the agent who brought the buyer to the table. Additionally, each of those agents split their share with their broker and that can span a wide range as each broker sets his or her own fees independently. And finally, a portion of that pay has been spent on marketing your property to get it to a successful sale.
Alysia Shivers Realtor | Naples Florida Real Estate | 239.877.9732
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