SELLER Frequently Asked Questions

Q: How long will it take to sell my home?
A: It depends on the market, the price, the location and the agent.* There's a saying in real estate that everything sells at a price. But what price? Active, under agreement and sold data on comparable properties provide a fairly good basis for pricing. But, unless it's a condominium building, there's often a wide range of quality to consider, as well as the location of your home. In a good market, "testing the market" is fine. But keep in mind that the buying public is savvy; a property considered too overpriced will be ignored. You and your agent should pick the magic number that assures you the best price in your optimum time frame.

*agents are licensed as either sales associates or brokers.

Q: How do I coordinate the sale of my present property with the purchase of my new one?
A: Work with an agent who is creative and experienced in coordinating the two transactions. Pricing will be ultra important. Ideally, you will have your property under a strong Purchase and Sale Agreement (P&S) and will close on both homes the same day to avoid a bridge loan.

Q: What is involved in the listing process?
A: If you already have a relationship with an agent you trust, that's great. If not, you might want to expand your search. Generally, the reputations of firms and their track records are well known. Interview the agent/s to be sure you agree on the best process to achieve your goal: selling your home in your desired length of time for the best price you can get. The usual length of time of a listing agreement is six months; but be sure you're able to cancel the contract if you feel the agent is not doing a good job. Be sure you have confidence in the person you choose.

Q: Is it possible to put my home under agreement but to delay the closing until it's convenient for me?
A: It depends. If it's a first-time buyer, there might be flexibility in his or her lease term so that a convenient closing date can be arranged. Excluding this scenario, a good rule of thumb is that the higher priced the property, the more flexibility there will be with the closing date.

Q: Why is Buyer Brokerage good for a seller?
A: The firm that offers Buyer Brokerage provides more potential buyers for your property i.e., maximum exposure. Attorneys and accountants are advising Buyer Brokerage to their home-buying clients. Consumer-directed articles have been promoting it for years. Buyers are going to the firms that offer this special service.

Some brokerages belittle Buyer Brokerage. Don't believe it. Buyers represented by Buyer Brokerage are better qualified because their agents are advising them properly. The important criteria for you, the seller, are the legitimacy of the buyer and the strength of the buyer's offer. Whether an offer is made through a seller's agent or a buyer's agent should be irrelevant to you, so long as the buyer is serious and you get your price.

Q: Can you represent me as the seller's broker and represent a buyer for my home as buyer's broker?
A: No. That's a dual agent and Hammond Real Estate does not practice it. However, I can receive an offer on your property from a buyer, but my fiduciary relationship is with you.

Q: What should I look for in a seller's agent?
A: Look for a person you can trust to handle your very precious, very special investment. An agent who will give you an honest valuation of your home, not some wild price just to "buy" the listing. An agent who will aggressively and conscientiously market your property. An agent who is affiliated with a firm that does Buyer Brokerage. An agent who utilizes today's technology to market your property, like Hammond Real Estate's HomeMovie web-based service. An agent who is committed to putting your best interests before his or her own. An agent from a reputable, successful firm with a terrific track record - a powerhouse behind your power-broker. An agent who will work well with you and respect your wishes - after all, it's your home until the closing.

Q: What should I look for in a real estate company.
A: Look for the company that will give your property maximum exposure.

The company with the best REAL track record, not the distorted one. A company with a full-time receptionist and an on-hand "floor" broker, so that the caller gets live, immediate attention, not an answering machine during normal hours. A team-oriented office, where any agent in the office can set appointments to show your property when a buyer calls - spontaneity and timing are essential.

A large brokerage with full-time agents. You want your property represented by professionals who have been in the business for years, with a database of potential buyers for your home. A high-tech company with the best competitive edge. Any office with a fully computerized database. When a buyer calls, the salient and positive data about your property should be immediately at hand, so that an appointment can be scheduled to show your property. An enthusiastic, energetic office - the one that burns the midnight oil.

An office that practices Buyer Brokerage, not just a few agents in the office, so that your privacy is always protected. For example, sometimes a seller needs to sell because of a relocation, divorce, etc. When a buyer has this information, it necessarily colors his or her thinking in terms of what price to offer. When an office practices Buyer Brokerage, the reasons a seller sells and a buyer buys are kept private - we respect our fiduciary relationships.

A brokerage that is concerned with getting you the best price for your home via market forces. Beware of the office that sells an extraordinarily high percentage in-house! A reliable, reputable firm, so you feel confident with the marketing and selling process. A friendly office so that each buyer is welcomed warmly and assisted in earnest - buyers like to do business with offices they feel comfortable in.