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    Real Estate
    Sunday, May 12, 2024

    You've listed your home. Now what happens?

    When you decide it's time to sell your home, it will take a little more than a "For Sale" sign to bring in the offers. You should expect that you'll be in close touch with your real estate agent and that you'll have to keep the home as spotless as possible before the closing.

    A few steps should be taken before the listing to make sure your home looks its best. You should give each room a thorough cleaning, and you might want to invest in some basic upgrades such as putting a new coat of paint on the walls. Mow the lawn, trim the hedges, and tend to your flower beds to enhance the curb appeal.

    Your real estate agent will also work with you prior to listing to prepare advertising materials. John D. Mayfield, writing for the National Association of Realtors publication RealtorMag, says you'll want to create a few advertisements to highlight the best features of your home. You may also need to have a professional photographer tour your home to take photos, as high quality images will showcase the rooms better than amateur ones shot on basic equipment.

    Once these preliminary preparations have been made, you can expect your home to be advertised in a number of different ways. It may be featured at your agent's brokerage, in newspapers, and in online real estate classified sites.

    Your home will also likely be featured on the Multiple Listing Service. Rick Hazeltine, writing for the National Association of Realtors, says real estate agents in the area use the MLS to find out when new properties are listed.

    A sign should be placed outside your home, indicating that the home is for sale. The sign may also have the contact information for the listing agent or brokerage. ZipRealty says another sign may be placed at the intersection with a busier road to direct people to check out the residence.

    In many cases, your agents will attach a lockbox to the main entrance of your home. This device contains a key to your home which is accessible by entering a numerical combination. Hazeltine says a lockbox lets an agent get into your home when they show it to potential buyers, allowing easier access than if they had to rely on you to be present.

    Some homes will sell within days, and others will take much longer to find a buyer. Mayfield says agents should meet with you to go over their plan for marketing your home over the next 30, 60, and 90 days. Unless they update you regularly, check in periodically to see how this plan is proceeding.

    Hazeltine says your agent will often look to schedule an open house as soon as possible. In addition to letting people see the home when it is newly listed and generating the most interest, it lets you take advantage of the cleanliness of your home.

    At least two open houses will probably take place. ZipRealty says the first one will be open to brokers, allowing agents to see if the property would suit the needs of any of their clients. The second open house should be open to the public in general, allowing both agents and potential buyers to tour the home. Hazeltine says you can consult with your agent to determine if any additional open houses are necessary.

    Once the home is on the market, it will be available for showings. ZipRealty says you may not get much notice when your agent hears from an interested buyer, but that you should plan to be out of the home when they tour the property. Your agent should be able to answer any questions the buyer might have, and they'll be more comfortable if you aren't shadowing them during the walkthrough.

    Since you may get several visitors even after the open houses, you'll need to keep your home looking nice. Buyers might not be impressed by the property if they encounter clutter and messy rooms, so you shouldn't ignore any cleaning duties. Make the beds, put away dishes and toys, and take out the vacuum a little more often.

    Hazeltine says that homes are listed for an average of 60 to 90 days before a sale, though it may take longer to sell a home in a slower market. The property will generate the most interest when it is newly listed, so you shouldn't be discouraged if fewer people are asking for a showing in later weeks.

    Take a serious look at any offers you receive. Even if the price suggested by a buyer is much lower than what you are asking, you may be able to start negotiating and settle on a mutually satisfactory number.

    If your home has been on the market for a long time with no offers or little interest, however, it's time to reassess your strategy. Hazeltine says most sellers start to get concerned that their sale is lagging if you have not found a buyer within six weeks. At that point, you may want to meet with your agent to discuss lowering the asking price, doing a few more renovations, or otherwise making the property more appealing to buyers.

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