If you have a presentation scheduled with an agent, here's what you may want to know & accomplish beforehand.
Before you meet with an agent about the possibility of selling your property, here are a few things you can do to prepare yourself for the appointment:
Consider your expectations for a listing price
Knowing what your home is worth is very different from having a feeling of what your home is worth. Meaning, you may not know what you home is worth, but you may have a feeling that your home is worth a specific amount based on a lot of different factors:
- The amount of work or money you've put into the home
- The sales price of neighboring homes
- Recent changes in your community
- The unique amenities & features in your home
- The emotional attachment you have to your home, neighborhood or community
Keep in mind that while this information is valid & can impact how much your home will sell for, a realtor will review specific market factors without the bias a homeowner would have. Having this unbiased third party means you will get an honest estimate based on facts, experience & statistics.
With that said, it's vital that you consider your desired list price, as well as the amount you need to make from the sale. On the flip side, it would be useful to think through what price would be too low for you to consider moving forward with selling. Be ready to discuss this further, leading to our next point.
Discuss what you'd be willing to do to the home
It's possible that after reviewing sales near your that your agent may have some recommendations. These suggestions might be based on a few factors such as (but not limited to):
- Updates needed to reach your desired list price
- Repairs needed to sell the home quicker
- Changes in keeping with similar homes that recently sold near you
- Potential issues buyers may have with certain aspects of the home
You may also have projects you'd like to do before you sell as well. Think through & list those items so you have a good idea of where your goals & the agent's suggestions align & differ. Be honest with yourself about both the dollar amount & time you are willing to contribute before considering selling your home.
Remember that the agent's goal is to sell your home as quickly as possible, for the highest amount possible & their recommendations are simply that; a recommendation.
Verify a timeline for listing the home
While you might not be ready at this very moment to sell your home, for whatever reason, you will definitely want to consider an ideal timeline. Maybe you have a deadline by which you need to sell your home, but if not, think about some of the following:
- When would you like to receive proceeds from the sale?
- Will you need to avoid selling after a certain date to avoid additional costs such as a double mortgage payment, utility bills, taxes, or insurance?
- Do you need to avoid moving twice?
Giving the realtor a realistic expectation of when you will be ready to list the property for sale, as well as when you need to receive funds from the sale will help the agent tremendously. Not only will this help the agent develop a solid plan for the future, but if the expectation is slightly unrealistic, they can begin problem solving that with you.
Brainstorm questions you may have
Lastly, think through any common misconceptions about the process you might have. Here's a good list of things to think through that might jog your mind:
- What are some of your fears about selling a home?
- What are some things you are excited about?
- What expectations do you have about the process of selling a home (good or bad)?
- What are some past experiences that left a good or bad impression on you?
- How long do you perceive this process taking?
- Do you have people you'll need to involve in this process who won't be at the meeting?
- What are some things that must be done by the agent to consider this process successful to you?
Regardless of how prepared you are or how prepared you feel you are, we are confident the presentation with your agent will help you tremendously. Whether you've never sold a home before or this isn't your first rodeo, you'll leave with a much better sense of what to expect in the near future, your role & most importantly the value your agent will bring throughout the entire process.