So you're ready to sell your home or property? You've made a smart choice to consider Signature Group Real Estate. Much of our success can be attributed to the close cooperation we strive for between agent and seller. To build this relationship, we've compiled some of the most frequently addressed issues for sellers.
View the topics below - and call a "Signature" Agent if you'd like further details.
How to Pick an Agent What should you look for when shopping for a real estate agent? The answer is as individual as the seller. You must of course find a person with whom you feel comfortable showing your home, asking questions, and discussing financial aspects. However, there are some criteria you should always look for overall:
Familiarity with the area - Does he or she know your neighborhood? Can a potential buyer get the answers to their questions?
Proven track record - Ask for the agent's personal sales volume, average time on market, and sale-to-list-price ratio.
Written documents - Ask for your property's marketing plan in writing-and be sure to see every part of your transactions on paper.
We're confident you'll find these qualities in every Signature Group agent. What's more, you'll find specific areas of expertise that can help you sell your home even more effectively.
How to Showcase Your Home Your role throughout the selling process can have a great impact on its success. Working as a team, we can maximize our efforts to sell your home at the highest possible price in the shortest period of time. You can help by keeping your home in ready-to-show condition and being flexible in the scheduling of showings. We recommend you leave your home during showings, but if you do speak with potential buyers, be careful not to weaken your negotiating position. Here are some tips to present your home in its best light:
On the Outside
Pick up toys, pet items, and tools; curb appeal has a huge impact on a buyer
Keep landscaping healthy and trimmed
Sweep front porch, steps and walkway often and polish your door hardware
On the Inside
Remove all clutter, personal objects and unnecessary furniture (have one of our agents or a friend give an honest, third-person viewpoint)
Do a quick dusting and vacuuming right before showings
Lighten up-turn lights on and open drapes and shades to clean windows
Let in fresh air to remove pet and stale cooking odors
Turn off the television and other appliances that may be distracting
Playing soft background music can create a positive experience
How to Get Top Dollar Of course your objective in selling your home is to get the right price. The trick is to accurately understand the realistic market value for your home. The price needs to be high enough to ensure a maximum return to you, yet still appear attractive to buyers when compared with similar homes in the area.
Your home's value is affected by two key considerations:
1) Physical characteristics 2) Market conditions. The size of your home and lot, the architectural design, floor plan, age, amenities, and condition have the strongest impact on the value of the home. However, you cannot discount other factors including mortgage interest rates, economic conditions, buyer demand, seasonal demand, and availability and pricing of similar properties.
Signature Group Real Estate can help you determine an optimal price for your home by analyzing comparable properties in your area.
Using the Multiple Listing Service, we can prepare a report for you that includes:
Active Listings of homes for sale in your area and their asking prices
Under Contract homes that have received and accepted an offer
Sold properties give you a realistic concept of true market value
Expired listings of homes that did not sell-perhaps because they were overpriced
How to Minimize Taxation Many investors don't realize that taxation on the sale of investment property does not have the same tax advantages enjoyed when selling their principal residence. Profits are often substantially affected by tax consequences. With a 1031 Exchange, named after the IRS code, you can sell investment real estate and replace it with other investment real estate without creating a taxable event.
By performing an exchange instead of a sale and new purchase, you can:
Avoid paying taxes on your sale immediately.
Potentially improve your investment income.
Make more funds available for a new purchase by deferring the tax payments
To qualify for a 1031 Exchange, you must trade real estate that is held for business or investment purposes for other like investment property. 1031 Exchanges cannot be used in the sale of your primary residence or second home.
To qualify, you must use a Qualified Intermediary, who in turn buys the next property you have chosen.
You are not required to exchange all of your cash from the sale of the first property into the purchase of the second. However, if you take proceeds from the first sale, each dollar taken is subject to capital gains tax. To avoid the tax, you must rollover the entire gain into the new property. You may also exchange one property for several others or vice versa. It does not have to be one for one.
Signature Group Real Estate can provide you with a copy of the 1031 Exchange Rules and Guidelines and answer any questions you may have about this subject. We recommend that you consult your personal accountant for specific advice.
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