For Sellers
Selling your home shouldn't be a stressful ordeal. Making the smart
move of choosing a REALTOR® is your first step to ensuring that your
investment in your home pays off. Our services and experience allow you
to focus on your move while We manage your home sale from our initial
consultation to the closing deal, and beyond. We pride ourselves on
repeat business and hope you'll come to understand why.
As real estate professionals, we will help you make the right decisions. The following questions and answers will give you a better idea of what the sale process entails.
What makes a home sell?
This entire site could be devoted to answering this question. To be as concise as possible, a successful sale requires that you concentrate on five considerations: your price, terms, condition, location, and exposure.
When is the best time to list a home for sale?
As soon as you decide to sell it. If you want to get the best price for your home, the key is to give yourself as much time as possible to sell it. More time means more potential buyers will probably see the home. This should result in more offers; it also gives you time to consider more options if the market is slow or initial interest is low.
Is there any seasonality to the market?
Late spring and early fall are the prime listing seasons for Fairfield County because homes tend to "show" better in those months than they do in the heat of summer or the cold of winter. And of course, people like to do their home hopping when the weather is pleasant.
But keep in mind that there are also more homes on the market during the prime seasons, so you'll have more competition. So while there is seasonality in the real estate market, it's not something that should dominate your decision on when to sell.
What about market conditions -- price trends, interest rates, and the economy in general? Should they have any bearing on when We list?
Probably not. Even if you're under no pressure to sell, waiting for better market conditions is not likely to increase your profit potential.
How long should it take to sell?
Average listing times vary from 60 to 180 days, according to market conditions in the town, or even neighborhood; and of course, price, terms, condition, location and exposure play an even greater role. Selling in our market is easier if you keep time on your side.
What if I can't sell my old home before we have to move?
This situation can arise for any number of reasons. For instance, getting the job promotion you've been waiting for may mean having to relocate very quickly. Another example: you finally find your "dream home," and need to get it under contract before it sells to another buyer. Whatever the reason, don't panic. You have some viable alternatives to the potential nightmare of double mortgage payments.
If you don't have to sell in order to buy a new home, renting is one option to think about. Consider the advantages and disadvantages of renting your old home. If you're being transferred, you may be able to obtain a short-term rental while you're becoming familiar with the new area. Either way, The Villepigue Team can help, by advising you how much you can expect to receive for rent, or what you need to charge to cover your mortgage payments and other costs you'll entail as a landlord.
How do I price my home?
In a word, realistically. That's not to say you can't get what your home is worth. You just have to be realistic about its value, and price it accordingly. A good place to start is by determining the fair market value.
What is "fair market value," and how do I determine mine?
Simply put, the fair market value of a home is the highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase. It is usually not the asking price.
To get an estimate of fair market value, contact Justin and Marlo and ask for a Competitive Market Analysis (CMA) of your house. They will provide this service free of any charge, without obligation.
The analysis will give you a realistic figure based on the most salient points of the local real estate market. It should provide information about recent sales of similar houses, including how much they sold for and how long it took.
What's the difference between fair market value and asking price?
Generally speaking, the owner's asking price -- the advertised price of a home when it goes on the market -- is set slightly higher than fair market value. You can assume that some negotiation will be necessary to reach an agreement with a buyer.
Who can help me determine the right asking price?
The Villepigue Team can suggest asking prices based on a wide array of information you may not have at your disposal, including recent listing and selling prices of houses in your neighborhood. You may also want to order an appraisal.
Next, establish clear priorities. If you had to choose, are you more concerned with selling quickly, or getting the most money possible?
Someone else -- a neighbor, friend or relative -- may point out advantages or disadvantages about your home that you hadn't thought about. Third-party views will help you start thinking of your home as a commodity, with positive and negative selling points. Then you should decide on a price that you feel is competitive and consistent with what other homes in your area have sold for. How flexible should I be about the asking price? Most buyers also leave room for negotiation when they make an offer. Thus, a certain degree of flexibility is usually called for on the part of both the buyer and seller.
While it is ultimately your decision to accept or reject an offer, or present a counter-proposal, we can be of great assistance to you during the negotiating process. In fact, negotiation is one of themost valuable skills we offer. As negotiations proceed -- whether in writing, face-to-face, or by phone - Justin and Marlo will inform you of your options in responding to each offer from the buyer.
Should I fix my home up before it goes on the market?
Unless your home is nearly new, chances are you'll want to do some work to get it ready to market. The type and amount of work depends largely on the price you're asking, the time you have to sell, and of course, the present condition of the house.
If you're in a hurry to sell, do the "little things" that make your home look better from the outside and show better inside.
What is "curb appeal," and how do I create it?
"Curb-Appeal" is the common real estate term for everything prospective buyers can see from the street that might make them want to turn in and take a look. Improving curb appeal is critical to generating traffic. While it does take time, it needn't be difficult or expensive, provided you keep two key words in mind: neat and neutral.
Neatness sells. New paint, an immaculate lawn, picture-perfect shrubbery, a newly sealed driveway, potted plants at the front door -- put them all together, and drive-by shoppers will probably want to see the rest of the house.
Hand in hand with neatness is neutrality. If you're going to repaint, stick to light, neutral colors. Keep the yard free of gardening tools and the kids' toys. Remember, when a family looks at a house, they're trying to paint a picture of what it would be like as their home. You want to give them as clean a canvas as possible.
What should I do to make the homes how better?
First, make your home look as clean and spacious as possible. Remember, people may look behind your doors -- closet and crawlspace doors as well as those to the bedrooms and bathrooms. So get rid of all the clutter; have that garage sale and haul away the leftovers.
After you've cleaned, try to correct any cosmetic flaws you've noticed. Paint rooms that need it, regrout tile walls and floors, remove or replace any worn-out carpets. Replace dated faucets, light fixtures, and the handles and knobs on your kitchen drawers and cabinets.
Finally, as with the outside of your house, try to make it easy for prospective buyers to imagine your home as their home. Clear as much from your walls, shelves, and countertops as you can. Give your prospects plenty of room to dream.
Should I make any major home improvements?
Certain home improvements that are useful to almost everyone have been proven to add value and/or speed the sale of houses. These include adding central air conditioning to the heating system, building a deck or patio, basement finishing, some kitchen remodeling, (such as updating colors on cabinets, countertops, appliances, panels, etc.), and new floor and/or wall coverings, especially in bathrooms. Improvements that return less than what they cost are generally items that appeal to personal tastes, like adding fireplaces, wet bars, and swimming pools, or converting the garage into an extra room.
The challenge that comes with any home improvement designed to help sell your home is recouping your investment. There's always the risk of over-improving your home -- that is, putting more money into it than neighborhood prices will support.
So how much is too much?
Professional renovators have found that, no matter how much you improve any given home, you're unlikely to sell it for more than 15% above the median price of other houses in the neighborhood, whether you do $1,000 worth of work or $50,000. That's why you might want to ask The Villepigue's opinion about the viability of recouping the cost of any major renovation you have in mind before you start the work.
Should I do the work myself?
If you have the time and talent, do-it-yourself improvements are the most cost-effective way to go. Painting, wallpapering, replacing cracked trim and old plumbing fixtures -- the difference between work done by a competent amateur and a professional is usually time and money. Just make sure you don't tackle something you can't handle -- this is no time for "on-the-job training!" If you're not experienced, it may be worth calling in a professional.
Larger jobs involving mechanical systems, (such as heating, electrical, plumbing, etc.) or work that must meet local building codes are another story. Even if you or the family handyman know exactly what you're doing, it's not a good idea to engage in this type of work unless you're licensed to do so. Your efforts couldmake you responsible for more than you realize if something you worked on goes wrong after you sell.
How do I reach the right potential buyers?
There was a time when selling a home was simple. Your real estate agent would put a sign in the front yard, an ad in the paper, and wait. Of course, agents still do those things -- but that's far from all we do. Today, people are moving further and more frequently than they used to; it's not unusual for upwardly mobile executives to relocate across the country more than once in a year. The result is that the pool of potential buyers for your home is much larger and spread far wider than ever before, and the competition to reach them is fierce. Because you'll probably need to cast a wider net to find the right buyer, choosing a real estate team that offers the sophisticated marketing techniques that define likely buyers, where to find them, how to reach them, and how to persuade them to buy one home over another has never been more important. The fact is, virtually everything we've discussed up to this point, from pricing to home improvements, the Competitive Market Analysis to the "For Sale" sign in the yard, is part of a marketing process that's put into motion when you decide to work with The Villepigue Team.
What's an MLS®, and why do I need one?
A Multiple Listing Service, or MLS, is one innovation that makes it easier to reach a large number of prospective buyers and dramatically increase the exposure of a property.
Quite simply, it's a system under which participating brokers agree to share commission on the sale of houses listed by any one of them. So, for example, if you list your home with us and another broker actually sells it, we share the commission. The advantage to you is clear; more people have an interest in selling your house.
Over the years, the MLS concept has grown from a strictly local sales tool into a powerful national marketing system. That's due largely to ERA, whose pioneering use of the fax machine led to the development of the nation's first, and still the largest, interstate shared listing system.
How important is advertising?
Advertising remains one of the most important components of the marketing process. Many people don't realize how costly advertising can be -- a photo listing ad run in the local newspaper can cost anywhere from several hundred to several thousand dollars. That's just advertising in the local newspaper. The Villepigue Team employ a variety of other proven advertising methods, including the Internet, magazines, and direct mail.
What should we expect from an open house?
As another valuable part of the marketing process, the open home offers prospective buyers the chance to view houses in a low-pressure, "browsing" atmosphere. With that in mind, you shouldn't expect it to generate a sale, at least not directly. What you should look for is traffic, and calls to your agent for private showings in the days following the open house.
Open houses are always valuable, even if very few people show up. Such a situation can indicate that the price is too high; it may also lead you to look for ways to improve curb-appeal. Try not to draw your own conclusions - Justin and Marlo will give you a full report on open home activity, and offer a professional assessment of its results.
They will also hold an open home for other agents shortly after your home is listed. This event, usually held midweek when real estate people can give it their full attention, can be as important to your efforts as your listing in the local MLS. The more professionals who see your house, the more prospects you're likely to reach.
Should we try to avoid being at home when the home is shown?
You should definitely plan to be out of the home during any open home your agent has scheduled; the same goes for first showings to prospective buyers. People often feel uncomfortable speaking candidly and asking questions in front of current owners. You want them to feel as free as possible to picture your home as their "dream home."
Find out how much your closing costs could be.
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FAQ's Click Here
- Complete a comparative market analysis that will compare your home's value to that of your neighbors.
- Compile a comprehensive plan detailing all the efforts We will employ to sell your home, including Internet and local media.
- Present your home to as many qualified buyers as possible getting your home maximum exposure.
- Help you stage your home and generate curb appeal to ensure you get the highest price.
- Assist with obtaining offers and help you in negotiating the best deal as smoothly as possible.
- Help you find your next home and answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.
What are homes selling for on your street? Use HomeRadar.com to find out what neighborhood homes are selling for, free of charge, or choose a more detailed analysis of the value of your home.
Getting the Highest Price for Your Home
Curb appeal is key and could make a difference whether people stop and take a flyer, or drive right by. Here are a few tips to increase the curb appeal of your home. Staging your home is important. Many buyers will stay in your home longer if it's staged appropriately. We have compiled some ideas to present your home in the most effective manner.
- Title insurance fees depend on the sales price of the home.
- Broker's commission is a full-service fee and will cost anywhere between 5% to 7%.
- Local property transfer tax, country transfer tax, state transfer tax, and state capital gains tax are the charges that you'll pay for the privilege of selling your home. Credit to the buyer of unpaid real estate taxes for the prior or current year are variable and depend on when you close and when your taxes are due.
- FHA fees and costs are all fees are now negotiable between an FHA buyer and seller.
- Home inspections fees are in some circumstances paid for by the seller and include pest, radon and other inspections.
- Miscellaneous fees can accrue from correcting problems noticed during the home inspection.
As real estate professionals, we will help you make the right decisions. The following questions and answers will give you a better idea of what the sale process entails.
What makes a home sell?
This entire site could be devoted to answering this question. To be as concise as possible, a successful sale requires that you concentrate on five considerations: your price, terms, condition, location, and exposure.
When is the best time to list a home for sale?
As soon as you decide to sell it. If you want to get the best price for your home, the key is to give yourself as much time as possible to sell it. More time means more potential buyers will probably see the home. This should result in more offers; it also gives you time to consider more options if the market is slow or initial interest is low.
Is there any seasonality to the market?
Late spring and early fall are the prime listing seasons for Fairfield County because homes tend to "show" better in those months than they do in the heat of summer or the cold of winter. And of course, people like to do their home hopping when the weather is pleasant.
But keep in mind that there are also more homes on the market during the prime seasons, so you'll have more competition. So while there is seasonality in the real estate market, it's not something that should dominate your decision on when to sell.
What about market conditions -- price trends, interest rates, and the economy in general? Should they have any bearing on when We list?
Probably not. Even if you're under no pressure to sell, waiting for better market conditions is not likely to increase your profit potential.
How long should it take to sell?
Average listing times vary from 60 to 180 days, according to market conditions in the town, or even neighborhood; and of course, price, terms, condition, location and exposure play an even greater role. Selling in our market is easier if you keep time on your side.
What if I can't sell my old home before we have to move?
This situation can arise for any number of reasons. For instance, getting the job promotion you've been waiting for may mean having to relocate very quickly. Another example: you finally find your "dream home," and need to get it under contract before it sells to another buyer. Whatever the reason, don't panic. You have some viable alternatives to the potential nightmare of double mortgage payments.
If you don't have to sell in order to buy a new home, renting is one option to think about. Consider the advantages and disadvantages of renting your old home. If you're being transferred, you may be able to obtain a short-term rental while you're becoming familiar with the new area. Either way, The Villepigue Team can help, by advising you how much you can expect to receive for rent, or what you need to charge to cover your mortgage payments and other costs you'll entail as a landlord.
How do I price my home?
In a word, realistically. That's not to say you can't get what your home is worth. You just have to be realistic about its value, and price it accordingly. A good place to start is by determining the fair market value.
What is "fair market value," and how do I determine mine?
Simply put, the fair market value of a home is the highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase. It is usually not the asking price.
To get an estimate of fair market value, contact Justin and Marlo and ask for a Competitive Market Analysis (CMA) of your house. They will provide this service free of any charge, without obligation.
The analysis will give you a realistic figure based on the most salient points of the local real estate market. It should provide information about recent sales of similar houses, including how much they sold for and how long it took.
What's the difference between fair market value and asking price?
Generally speaking, the owner's asking price -- the advertised price of a home when it goes on the market -- is set slightly higher than fair market value. You can assume that some negotiation will be necessary to reach an agreement with a buyer.
Who can help me determine the right asking price?
The Villepigue Team can suggest asking prices based on a wide array of information you may not have at your disposal, including recent listing and selling prices of houses in your neighborhood. You may also want to order an appraisal.
Next, establish clear priorities. If you had to choose, are you more concerned with selling quickly, or getting the most money possible?
Someone else -- a neighbor, friend or relative -- may point out advantages or disadvantages about your home that you hadn't thought about. Third-party views will help you start thinking of your home as a commodity, with positive and negative selling points. Then you should decide on a price that you feel is competitive and consistent with what other homes in your area have sold for. How flexible should I be about the asking price? Most buyers also leave room for negotiation when they make an offer. Thus, a certain degree of flexibility is usually called for on the part of both the buyer and seller.
While it is ultimately your decision to accept or reject an offer, or present a counter-proposal, we can be of great assistance to you during the negotiating process. In fact, negotiation is one of themost valuable skills we offer. As negotiations proceed -- whether in writing, face-to-face, or by phone - Justin and Marlo will inform you of your options in responding to each offer from the buyer.
Should I fix my home up before it goes on the market?
Unless your home is nearly new, chances are you'll want to do some work to get it ready to market. The type and amount of work depends largely on the price you're asking, the time you have to sell, and of course, the present condition of the house.
If you're in a hurry to sell, do the "little things" that make your home look better from the outside and show better inside.
What is "curb appeal," and how do I create it?
"Curb-Appeal" is the common real estate term for everything prospective buyers can see from the street that might make them want to turn in and take a look. Improving curb appeal is critical to generating traffic. While it does take time, it needn't be difficult or expensive, provided you keep two key words in mind: neat and neutral.
Neatness sells. New paint, an immaculate lawn, picture-perfect shrubbery, a newly sealed driveway, potted plants at the front door -- put them all together, and drive-by shoppers will probably want to see the rest of the house.
Hand in hand with neatness is neutrality. If you're going to repaint, stick to light, neutral colors. Keep the yard free of gardening tools and the kids' toys. Remember, when a family looks at a house, they're trying to paint a picture of what it would be like as their home. You want to give them as clean a canvas as possible.
What should I do to make the homes how better?
First, make your home look as clean and spacious as possible. Remember, people may look behind your doors -- closet and crawlspace doors as well as those to the bedrooms and bathrooms. So get rid of all the clutter; have that garage sale and haul away the leftovers.
After you've cleaned, try to correct any cosmetic flaws you've noticed. Paint rooms that need it, regrout tile walls and floors, remove or replace any worn-out carpets. Replace dated faucets, light fixtures, and the handles and knobs on your kitchen drawers and cabinets.
Finally, as with the outside of your house, try to make it easy for prospective buyers to imagine your home as their home. Clear as much from your walls, shelves, and countertops as you can. Give your prospects plenty of room to dream.
Should I make any major home improvements?
Certain home improvements that are useful to almost everyone have been proven to add value and/or speed the sale of houses. These include adding central air conditioning to the heating system, building a deck or patio, basement finishing, some kitchen remodeling, (such as updating colors on cabinets, countertops, appliances, panels, etc.), and new floor and/or wall coverings, especially in bathrooms. Improvements that return less than what they cost are generally items that appeal to personal tastes, like adding fireplaces, wet bars, and swimming pools, or converting the garage into an extra room.
The challenge that comes with any home improvement designed to help sell your home is recouping your investment. There's always the risk of over-improving your home -- that is, putting more money into it than neighborhood prices will support.
So how much is too much?
Professional renovators have found that, no matter how much you improve any given home, you're unlikely to sell it for more than 15% above the median price of other houses in the neighborhood, whether you do $1,000 worth of work or $50,000. That's why you might want to ask The Villepigue's opinion about the viability of recouping the cost of any major renovation you have in mind before you start the work.
Should I do the work myself?
If you have the time and talent, do-it-yourself improvements are the most cost-effective way to go. Painting, wallpapering, replacing cracked trim and old plumbing fixtures -- the difference between work done by a competent amateur and a professional is usually time and money. Just make sure you don't tackle something you can't handle -- this is no time for "on-the-job training!" If you're not experienced, it may be worth calling in a professional.
Larger jobs involving mechanical systems, (such as heating, electrical, plumbing, etc.) or work that must meet local building codes are another story. Even if you or the family handyman know exactly what you're doing, it's not a good idea to engage in this type of work unless you're licensed to do so. Your efforts couldmake you responsible for more than you realize if something you worked on goes wrong after you sell.
How do I reach the right potential buyers?
There was a time when selling a home was simple. Your real estate agent would put a sign in the front yard, an ad in the paper, and wait. Of course, agents still do those things -- but that's far from all we do. Today, people are moving further and more frequently than they used to; it's not unusual for upwardly mobile executives to relocate across the country more than once in a year. The result is that the pool of potential buyers for your home is much larger and spread far wider than ever before, and the competition to reach them is fierce. Because you'll probably need to cast a wider net to find the right buyer, choosing a real estate team that offers the sophisticated marketing techniques that define likely buyers, where to find them, how to reach them, and how to persuade them to buy one home over another has never been more important. The fact is, virtually everything we've discussed up to this point, from pricing to home improvements, the Competitive Market Analysis to the "For Sale" sign in the yard, is part of a marketing process that's put into motion when you decide to work with The Villepigue Team.
What's an MLS®, and why do I need one?
A Multiple Listing Service, or MLS, is one innovation that makes it easier to reach a large number of prospective buyers and dramatically increase the exposure of a property.
Quite simply, it's a system under which participating brokers agree to share commission on the sale of houses listed by any one of them. So, for example, if you list your home with us and another broker actually sells it, we share the commission. The advantage to you is clear; more people have an interest in selling your house.
Over the years, the MLS concept has grown from a strictly local sales tool into a powerful national marketing system. That's due largely to ERA, whose pioneering use of the fax machine led to the development of the nation's first, and still the largest, interstate shared listing system.
How important is advertising?
Advertising remains one of the most important components of the marketing process. Many people don't realize how costly advertising can be -- a photo listing ad run in the local newspaper can cost anywhere from several hundred to several thousand dollars. That's just advertising in the local newspaper. The Villepigue Team employ a variety of other proven advertising methods, including the Internet, magazines, and direct mail.
What should we expect from an open house?
As another valuable part of the marketing process, the open home offers prospective buyers the chance to view houses in a low-pressure, "browsing" atmosphere. With that in mind, you shouldn't expect it to generate a sale, at least not directly. What you should look for is traffic, and calls to your agent for private showings in the days following the open house.
Open houses are always valuable, even if very few people show up. Such a situation can indicate that the price is too high; it may also lead you to look for ways to improve curb-appeal. Try not to draw your own conclusions - Justin and Marlo will give you a full report on open home activity, and offer a professional assessment of its results.
They will also hold an open home for other agents shortly after your home is listed. This event, usually held midweek when real estate people can give it their full attention, can be as important to your efforts as your listing in the local MLS. The more professionals who see your house, the more prospects you're likely to reach.
Should we try to avoid being at home when the home is shown?
You should definitely plan to be out of the home during any open home your agent has scheduled; the same goes for first showings to prospective buyers. People often feel uncomfortable speaking candidly and asking questions in front of current owners. You want them to feel as free as possible to picture your home as their "dream home."
Find out how much your closing costs could be.
