Frequently Asked Questions
Asking questions is part of your job in the Real Esate process, answering those questions is our job! Feel free to contact any of our agents anytime to ask anything related to the Real Estate process. Below are just a few of the most frequently asked questions:
How do I choose an agent?
Selling a home is a complex transaction, so experience should be a consideration. Our lead brokers have 20+ years in this field and review every single transaction. Many of our top agents have over 10 years of experience. The key to finding the right agent is to interview them, ask them questions about the real estate process or find out about their experience. The right agent can lead you to selling your home quicker than later at the price you deserve!
What are the costs involved?
Fees vary depending on the type of property as well as what is negotiated in the sale. Your Realtor® can provide an estimated closing statement to give you an estimate of what is to be paid as part of the sale. Some costs include: Lender fees, Escrow fees, Home inspection and Appraisal.
What are the steps involved in selling my home?
Selling your home involves many steps, from consultation to pricing, marketing to escrow. Feel free to ask one of our agents to sit down with you to help walk you through this!
How are buyers attracted to my property?
You will work with your listing agent to develop a marketing plan and attract as many potential buyers as possible. Methods include: Yard Sign, Online Advertising, Open Houses and most importantly the VMDC Realty Network
What factors can influence the price of my home?
You want your home to sell for the highest price possible, but also in a timely fashion. Here are some factors that influence the price of your home: Current real estate market conditions, Hard facts such lot size & square footage also the condition of your home, Desirability factors (location, special amenities and property attributes), Selling and listing price of comparable homes in the area, Your level of motivation
Please note - There are many conditions that also do not affect the price of your home: The profit you wish to make from the sale, The amount of money spent on improvements, The original price you paid for your home
How do I negotiate?
Pricing your property with a 'cushion' for negotiation can be costly if it pushes the price above the fair market value range. To begin the negotiating process, you need interested Buyers. If overpriced, the number of Buyers that see the property is reduced, so the likelihood of an acceptable offer is also reduced. The best approach is to price a home just within the market value range. This allows room for negotiations, without sacrificing exposure.
What are the dangers if I overprice?
When a property is overpriced, windows of opportunity are missed. Broker and buyer interest is at its highest when a property is initially placed on the market. But if the property is priced above realistic market value, the excitement and number of showings are greatly reduced. Later, it may be necessary to adjust the price below market value to compete with new, competitively priced listings.
What is the best approach to pricing my home?
The best approach is to price a home just within the market value range. This allows room for negotiation, without sacrificing exposure. Make no mistake; we want you to get the best possible price for your property. However, when a home is priced too high for the market this may: Attract lookers but not legitimate buyers, Imply you aren't motivated to sell, Reduce the number of showings, Help competitive listings look better, Cause financing issues for the buyer if the property doesn't appraise at the higher price, Ultimately force you to drop the price below market value in order to sell
What is my role in the selling process?
No one has a more important role in the home selling process than you. Here are some ways your participation can contribute to a successful sale: Maintain the property, Ensure the property is easily accessible for showings, Communicate - let your agent know how to contact you, Remove or lock up valuables, Secure pets, Limit conversations with buyers/agents about price