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Selling Real Estate FAQ’s

Selling Real Estate FAQ’s

The real estate space can be overwhelming and confusing, especially when you don’t understand the jargon. It is no wonder therefore that real estate agents field hundred of questions on a daily basis. To help ease people’s anxieties, it is an agent’s obligation to provide guidance through the complex world of home buying and selling. However, there are some questions that are asked more often than others. As such, to help with answers to some of those questions compiled a selling real estate faq’s guide.

What is the role of a real estate agent?

To start with, in a seller’s context an estate agent is a qualified professional that aids you in selling your property. Additionally, real estate agents have an in-depth appreciation of the local property market. Moreover, they can facilitate informed property appraisals. Furthermore, real estate agents will help you strategist the most effective method of sale. Another important task they perform is to actively promote and market your property to reach the widest coverage.

How much do i have to pay an agent?

In property transactions, there are usually two real estate agents that are involved. The first agent represents the seller and the other agent represents the buyer. Real estate agents representing the seller in most instances charge a fee to represent them and effectively market the property. Usually, marketing is in the form of print publications, internet advertising, as well as radio and television slots.

What is an exclusive listing?

Under an exclusive listing arrangement, you give one agent sole rights to sell your property. Moreover, an exclusive listing arrangement is in most instances utilised for the sale of residential real estate.

What is an open house?

In the first instance, an open house is a term used to describe a timeframe under which a dwelling is open for survey by potential buyers. In addition, the term also references actual real estate for sale by the owner.

What is an agent’s role at an open house?

An open house is an excellent opportunity for an agent to engage with potential buyers. As such the agent’s role at an open house includes interaction with buyers. The role also entails the agent evaluating buyer interest and motivation.

How long should it take to sell my house?

The length of time it takes to sell your property once it is placed on the market is dependent on varying circumstances. To start with, the price you place on the property is a huge factor in how quickly or slowly it sells. Secondly, the means you utilise to sell your house have a huge bearing on the speed with which the property sells. Tip: In most instances auctions usually provide the most effective way to sell, at the best price and within the shortest time.

What does ‘overcapitalised’ mean?

The term ‘overcapitalised’ alludes to a circumstance where you have spent more cash on your property than you will recover from the sale price.

When is the best time to sell my house?

Firstly, it is critical to think strategically about when you put your house on the market. It is also important to consider the period in the year when to sell. Subsequently, these factors have a huge bearing on the sale price and the speed at which the house sells. Although the period differs from market to market, the best time to sell real estate is mid-January to mid-June. However, regardless of circumstances ensure your house is prepared and ready for the market.

What are closing costs?

Buyers and sellers incur closing costs when transferring ownership of a property.

This list is by no means conclusive, however, it does give you a good starting point in your journey to sell you house. Lastly, it goes without saying that engaging a competent agent or agency is very important. Talk to us today to see how we can help you sell your property.

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Teddy Chibanguza

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