“Simplifying the Real Estate transaction.”
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Knowing what to expect when your house goes up for sale can be half the battle of getting through the transaction.
With the recent NAR settlement, home sellers in Nevada now only negotiate the commission for their listing agent, rather than automatically including compensation for the buyer’s agent. This means sellers are no longer required to offer compensation to a buyer’s agent upfront, but instead, buyers may negotiate agent compensation directly with their own representation. However, a buyer can still request in their offer that the seller contribute toward their agent’s commission as part of the overall purchase agreement. This shift gives sellers more control over their costs while allowing negotiation flexibility based on market conditions and buyer demand. Pricing strategically and offering competitive terms can still be key factors in attracting qualified buyers and securing the best possible sale outcome.
It is important to note that agent compensation is not set by law; it is negotiable. NAR does not dictate compensation. This was true before the NAR settlement agreement. Compensation is negotiated at the onset of a relationship with a buyer or seller and, pursuant to the NAR settlement, must be memorialized in a written agreement between the agent and client. |
The Listing Plan
Your house will be listed in the local Multiple Listing Service (MLS) to notify all of the other area Realtors that the property is for sale. It will also appear on various internet websites for potential buyers to view. A For Sale sign will be posted in the front yard & a lockbox will be placed for other Realtors to show your property to buyers. Although a For Sale sign and lockbox are not required, they are highly suggested in order to market and sell your home quickly.
Listing and showing the property are very important aspects to the selling process. Property photos paint a picture for the buyer. Without several listing photos, buyers will not be able to see the layout of your home or its unique selling features. The more property photos included in the listing, the more serious buyers you will attract to view your home in person. Without an abundance of pictures the property will attract more “looky-loos” than serious buyers. Allowing other agents to show your property when you are not home will help to sell your home faster. If you don’t have a lockbox, many agents will put you at the bottom of their client’s list of homes to see because it’s a headache to track down your agent, who must track you down to find out when you’ll be available, which may not fit into the buyers’ schedule. In today’s market, there are plenty of other properties on the market for serious buyers to consider and view.
Listing and showing the property are very important aspects to the selling process. Property photos paint a picture for the buyer. Without several listing photos, buyers will not be able to see the layout of your home or its unique selling features. The more property photos included in the listing, the more serious buyers you will attract to view your home in person. Without an abundance of pictures the property will attract more “looky-loos” than serious buyers. Allowing other agents to show your property when you are not home will help to sell your home faster. If you don’t have a lockbox, many agents will put you at the bottom of their client’s list of homes to see because it’s a headache to track down your agent, who must track you down to find out when you’ll be available, which may not fit into the buyers’ schedule. In today’s market, there are plenty of other properties on the market for serious buyers to consider and view.
Although very few houses are sold at open houses, they are ideal to hold for the public and other agents. I recommend not being present for an open house so that potential buyers feel comfortable while viewing the house. With open houses and general viewings, it is important to keep the property touched up, cleaned up and ready for showings.
Most of the foot traffic to your home will be within the first 2-3 weeks of being listed. The average days on market (DOM) can be around 60-90 days depending on the current market conditions. Keeping your house neat and tidy, especially if you have children or pets, is one of the more difficult parts to selling. Although buyers try to envision themselves living there, it’s difficult to look past the scattered toys and dirty dishes.
If / When the property hits the 6 week listing mark with no offers, we will meet to discuss sales strategy. Markets change quickly. It may be the time to discuss price reductions or simple physical changes/improvements to enhance the property. This could be as simple as cleaning out the cluttered garage or painting colored walls a more neutral tone.
When the listing agreement is signed, you can generally expect a 3 step process: getting ready, showing the property and responding to the market conditions.
When the listing agreement is signed, you can generally expect a 3 step process: getting ready, showing the property and responding to the market conditions.
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