To some people, the idea of paying third parties to find you a home, close the sale, and later, help you sell your home, seems like a formality they can live without. But there are many more jobs your Fab Real Estate Team at Berkshire Hathaway HomeServices network real estate professional performs for you, and the most important is your protection.
When your home is listed with your real estate professional, it’s marketed worldwide, including to other real estate professionals. The first place it’s listed is in the multiple listing service, which has compensation rules that allow other licensed professionals to bring their qualified homebuyers to see your home. If your home sells under contract, they’re compensated by your real estate professional.
The reason this system has worked so well for decades is that the only homebuyers who will see your home are motivated, understand the process, are willing to take the appropriate steps, and are ready to buy. Unrepresented homebuyers may come to your door and ask to see your home, but beware. They think your listed home is an open invitation to look around. Other buyers simply aren’t quite ready to buy, or they’d have their own real estate professional. Whatever their reasons, they’re strangers who haven’t been vetted and shouldn’t cross your threshold. It’s best not to discuss your home, your reasons for selling, or provide other information to unrepresented buyers. Instead, direct them to your Fab Real Estate Team network real estate professional. They’re trained to help both buyers and sellers.
Whether you’re a homebuyer or seller, a home warranty can give you peace of mind. Also known as a home service contract, the home warranty typically covers mechanical systems and built-in appliances in the home.
Not to be confused with homeowner’s insurance, which covers damage from external forces, home warranties are designed to fill the gap between the original manufacturer’s warranty and normal wear and tear, according to HomeServiceContract.org.
Here’s how it works. If your AC goes out, or your dishwasher breaks, you contact the home service company and describe the problem. The dispatcher will send the appropriate licensed plumber, electrician, or appliance repair specialist to service the call. Expect to pay a service fee of about $50 or higher for each visit.
Remember that home warranties don’t provide blanket service. They don’t cover repairs or replacement for pre-existing conditions or for elderly mechanicals that are beyond their useful lifespan. But they are good for emergencies if your toddler clogs the toilet trying to “wash” his teddy bear.
For home sellers, home service contracts improve the home’s marketability to homebuyers and diminishes liability. For buyers, warranties can absorb the costs of unexpected repairs or replacements. Extended coverage for non-built-ins such as clothes washers, dryers, and stand-alone refrigerators is usually available.
When you think about the wide range of systems and appliances that it takes to operate your home, a home service contract is a bargain at approximately $400 to $500 and could pay for itself with one use.
Homebuyers tend to move like a herd – they stampede together and they graze together. Signs your market is easing may include showings with fewer offers, longer days on the market (tracked by your area’s multiple listing service) and more questions, contingencies and demands from buyers.
We at Fab Realty Group members of the Berkshire Hathaway HomeServices network professional can help you with sales and staging strategies and bring offers from qualified buyers. So what can you do to help?
Make your home pristine.
There’s a huge difference between a home that’s “move-in ready” and one that “needs work.” Show pride of ownership by putting your home in top move-in condition so that your home is more appealing to buyers than any other home in your area and price range.
Price it right.
You can expect lower offers in a slower market, but homes that are priced fairly and in pristine condition will be treated with respect and enthusiasm by buyers. Consider pricing slightly below market value or offer to include all appliances to attract more interest from buyers.
Be willing to negotiate.
Negotiation works best when both parties get what they want. You might take less money in exchange for a cash offer or quick closing. Your buyer may be willing to pay your asking price, but may ask you to pay their closing costs.
You may sell your home for a little less than you were expecting, but you’ll find that a slowing market means you’ll be able to buy your next home for less, too.
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