#1 Mistake: Not listing your property with a Full-Time Realtor©

When selling your home there are no guarantees that the ultimate buyer of your home will have simply walked through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer in the shortest period of time. When you list your property, you need to ask some specific questions about how it will be marketed.
In this extremely competitive market, if the Realtor© you are talking to does not run their Real Estate business as a FULL TIME business, then you need to be looking elsewhere. And if their idea of running a real estate business is putting a sign in your yard, entering it in the local MLS, and then running an ad in the local home buyer magazine . . . . well, then they are not seriously up to date in technology, and are not going to get your property exposed to the largest number of buyers possible.
Ask your Realtor© to list for you all of the ways he/she intends to market your home and on what time-line. Also, be sure to ask about the home being advertised on the Internet, and how MANY sites your property will be listed on. At Pinnacle Real Estate Services, we take the marketing of a property very seriously. Our “Strategic Marketing” puts your home in front of more buyers than any other company in Pearl River County, MS.

#2 Mistake: Not Pricing Your Property Right for the Current Market

Perhaps the most challenging aspect of selling a home is listing it at the correct price. It’s one of several areas where the assistance of a skilled, Full-Time Realtor© can more than pay for itself. Listing the home too high can be as bad as too low. If the listing price is too high, you’ll miss out on a percentage of buyers looking in the price range where your home should be. This is the flaw in thinking that you’ll always have the opportunity to accept a lower offer. Chances are the offers won’t even come in, because the buyers who would be most interested in your home have been scared off by the price and aren’t even taking the time to look. By the time the price is corrected, you’ve already lost exposure to a large group of potential buyers.
Your over-priced listing will actually also be helping to sell other properties that are in direct competition with you. Since your price is higher, the lower-priced house will be a better buy for the consumer.
The listing price becomes even trickier to set when prices are quickly rising or falling. It’s critical to be aware of where and how fast the market is moving – both when setting the price and when negotiating an offer. Again, an experienced, well-trained Realtor© is always in touch with market trends – often even to a greater extent than appraisers, who typically focus on what a property is worth if sold as-is, right now.

#3 Mistake: Thinking you need to be in the home to explain things to a prospective buyer.

You will be better served if you allow your Realtor© to do their job without you there. Most potential buyers usually feel more comfortable if they can speak freely to the real estate professional without the owners being present.
Also, if people unaccompanied by an agent request to see your property, you should refer them to your Realtor© for an appointment. Don’t expose yourself, your family, and your property to non-qualified buyers. If they are serious about viewing your home, they will call your Realtor©.

#4 Mistake: Forgetting what you would want to see if you were the buyer of your home.

Remember that although people can be different in personality, they tend to be the same when it comes to expectations at someone else’s expense. In other words, a prospective buyer would probably like to see a perfect home from top to bottom, inside and out. They can envision themselves living in your home, if it’s clean, and problems are already taken care of. Try to do as many of the following items as possible to improve the likelihood of your home selling quickly.
On the outside
• Sweep front walkway.
• Remove newspapers, bikes and toys.
• Park extra cars away from the property.
• Trim back the shrubs.
• Apply fresh, clean paint throughout.
• Clean windows and window coverings throughout.
• Keep plumbing and all appliances in working order.
• Maintain all sealant (window, tub, shower, sink, etc.) in good condition.
• Make sure roof and gutters are clean and in good condition.
• Mow the lawn frequently and plant flowers.
• Keep pet areas clean.

On the inside
• The kitchen and bathroom should shine.
• Quick once-over with the vacuum; carpets should be clean.
• Place fresh flowers in the main rooms.
• Put dishes away, unless setting a formal display for decoration.
• Make all beds and put all clothes away.
• Open drapes and turn on lights for a brighter feel.
• Straighten closets.
• Put toys away.
• Turn off television.
• Play soft music on the radio/stereo.
• Keep pets out of the way and pet areas clean and odor-free.
• Secure jewelry, cash, prescription medication and other valuables.
• Enhance the spaciousness of each room.

Before you begin working with any real estate agent, you should know who the agent represents in the transaction. Mississippi real estate licensees are required to disclose which party they represent in a transaction and to allow a party the right to choose or refuse among the various agency relationships. There are several types of relationships that are possible and you should understand these at the time a broker or agent provides specific assistance to you in a real estate transaction. The purpose of the Agency Disclosure is to document an acknowledgement that the consumer has been informed of various agency relationships which are available in a real estate transaction. For the purpose of this disclosure, the term seller and/or buyer will also include those other acts specified in Section 73-35-3(1), Mississippi Code.,”…list, sell, purchase, exchange, rent, lease, manage, or auction any real estate, or the improvements thereon including options;.”

SELLER’S AGENT

A seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) to represent the seller in finding a buyer for his property. A licensee who is engaged by and acts as the agent of the Seller only is known as a Seller’s Agent. A Seller’s Agent has the following duties and obligations: To the Seller: * The fiduciary duties of loyalty, confidentiality, obedience, disclosure, full accounting and the duty to use skill, care and diligence. To the Buyer and Seller: * A duty of honesty and fair dealing. * A duty to disclose all facts known to the Seller’s Agent materially affecting the value of the property which are not known to, or readily observable by, the parties in a transaction.

BUYER’S AGENT

Buyer’s Agreement A buyer may contract with an agent or firm to represent him. A licensee who is engaged by and acts as the agent of the Buyer only is known as the Buyer’s Agent. If a Buyer wants an agent to represent him in purchasing a property, the buyer can enter into a Buyer’s Agency Agreement with the agent. A Buyer’s Agent has the following duties and obligations: To the Buyer: * The fiduciary duties of loyalty, confidentiality, obedience, disclosure, full accounting and the duty to use skill, care and diligence. To the Seller and Buyer: * A duty of honesty and fair dealing.

DISCLOSED DUAL AGENT

A real estate agent or firm may represent more than one party in the same transaction. A Disclosed Dual Agent is a licensee who, with the informed written consent of the Seller and Buyer is engaged as an agent for both Seller and Buyer. As a disclosed dual agent, the licensee shall not represent the interests of one party to the exclusion or detriment of the interests of the other party. A disclosed dual agent has all the fiduciary duties to the Seller and Buyer that a Seller’s or Buyer’s Agent has except the duties of full disclosure and undivided loyalty.

A Disclosed Dual Agent may not disclose: (a) To the Buyer that the Seller will accept less than the asking or listed price, unless otherwise instructed in writing by the Seller. (b) To the Seller that the Buyer will pay a price greater than the price submitted in a written offer to the Seller, unless otherwise instructed in writing by the Buyer. (c) The motivation of any party for selling, buying, or leasing a property, unless otherwise instructed in writing by the respective party, or (d) That a Seller or Buyer will agree to financing terms other than those offered, unless otherwise instructed in writing by the respective party.

CUSTOMER

“Customer” shall mean that person not represented in a real estate transaction. It may be the buyer, seller, landlord or tenant. A Buyer may decide to work with a firm that is acting as agent for the Seller (a Seller”s Agent or Subagent). If a Buyer does not enter into a Buyer Agency Agreement with the firm that shows him properties, that firm and its agents may show the Buyer properties as an agent or subagent working on the Seller’s behalf. Such a firm represents the Seller, (not the Buyer) and must disclose that fact to the Buyer. When it comes to the price and terms of an offer, the Seller’s Agent will ask you to decide how much to offer for any property and upon what terms and conditions. They can explain your options to you, but the final decision is yours, as they cannot give you legal or financial advice. They will attempt to show you property in the price range and category you desire so that you will have information on which to base your decision.

The Seller’s Agent will present to the Seller any written offer that you ask them to present. You should keep to yourself any information that you do not want the Seller to know (i.e. the price you are willing to pay, other terms your are willing to accept, and your motivation for buying). The Seller’s agent is required to tell all such information to the Seller. You should not furnish the Seller’s agent anything you do not want the Seller to know. If you desire, you may obtain the representation of an attorney or another real estate agent, or both.

If you have any questions about these catagories, when looing for a home in Pearl River County, MS, please call Michelle Fradella at 601-799-1848, or email her at PRCHomes