The Process

Marketing: At DCReal Estate.com, we have the most powerful tools to market your home. Over 70% of home purchasers shop for and find their home online. When you market with us, your home is not only listed in all home sale databases and traditional print ads, it stands out here as the first thing buyers see when they begin their search. This means that the several thousand individuals who view our site every day see your home, and see it first. Contact us for a consultation, or view our feedback. Before you make your decision, read the following guidelines for selling your home.

Hire an Agent? Decide between selling the home yourself and choosing a listing agent to market the property and guide you through the process.

Hire a Listing Agent: If you have an agent list your home, sign a listing agreement with a licensed agent. This is a contract between you, the agent, and the agent's broker, allowing the agent to sell your home. You will be working closely with this agent, so make sure the agent is someone you can work with and trust. Make a list of any special features that are not obvious to buyers: nearby schools, pools, golf courses and public transportation. Ask your agent: How will he help you? The list below provides guidelines about the process. The listing agreement may be "exclusive agency," meaning the agent gets paid if they procure the purchaser, or "exclusive right to sell," the agent is paid even if you procure the seller.

Marketing. Ask your agent what they will do to sell your home. Do they have a website? Will they advertise in newspapers? Will they hold an open house? Does their company have good market exposure? Will they work hard to sell your home? Come out at night to show your house to prospective buyers? Selling DC Real Estate takes commitment.

Follow Up. Check your home's listing on the Multiple Listing System. Did your agent describe the property to make it attractive to buyers? Is your agent actively showing the property? What has your agent done to attract other agents to the property?

Disclose. Tell your agent about defects with your property. Your agent will ask you to fill out a disclosure form, as required by law. If you know of a problem and don't disclose, you will be liable for any harm it later causes.

Price. Have an agent give you a free home valuation to determine the price of your home. Do not hire an agent based on quoted price - good agents price your home realistically, bad agents compete by quoting higher prices. Compare your home realistically with others in the neighborhood. Potential buyers will be doing the same, so try to see your home from their perspective. Your home is most salable the first week on the market. Overpriced homes sit on the market, and lose leverage with buyers. When calculating how much cash you will have left over, subtract from the sale price the transfer taxes and related closing costs (plan on around 1.5% of the sale price), as well as any capital gains taxes owed, agents' commission, and mortgage balances. Remember that these costs do not affect the value of your home to a purchaser.

Documentation. Retrieve all documents relating to your property. If you own a condo or coop, order an updated set of association documents from the management company.

Clean. Remember that people will be coming through your home randomly, so keep it in its best condition at all times. Will a home sell for more just because it is clean and looks "showable"? Yes. Buyers know that your home is occupied, but don't make it too obvious. Reduce clutter wherever you can by minimizing objects on table tops, counters, floors and dressers, and hiding objects that don't have a place - a crowded home looks smaller.

Fix it or forget it? Repair broken items and make low cost improvements, but don't spend heavily to make general improvements, such large expenses are difficult to recover. Painting, cleaning and washing are usually enough.

Access. Make your home available to agents as much as possible. If you are home, greet visitors and the door, then excuse yourself so visitors with agents may view your home freely. Restricting access will reduce the number of people that can see your home.

Consider offers. Decide in advance special needs such as specific closing dates, how much time you need to move out, and what contingencies you will accept from the buyer. Contingencies bind you to the contract and take your home off the market, while allowing the buyer time to rethink the purchase.

Questions to Ask an Agent:

Full-Time Realtor: If your agent is part-time, run - don't walk - to another agent. This business is 24 hours a day.

Communication: Is your agent easy to reach? A buyer or buyer's agent who can't reach your agent will quickly move on to another property. Do they return phone calls the same day? Surprisingly, many don't.

Commitment to Excellence: Is your agent professional and attentive to details? Are they just relying on past homes sales to prove their experience? Hint: selling a home in this market does not take much experience, but it does take commitment and time.

Retail: Does your agent entice shoppers into viewing your home? Check online to see if your agent has described your home in a way that will make it interesting. Pull up other listings by that agent to see how they marketed other properties. Were maps, photos, and enticing descriptions part of that retailing? These are simple tools for agents and should be used on every listing.

Websites: Will your agent market your property individually on their own website? Is it a website purchasers will see?

Location: Does your agent work nearby? Selling a house may require repeated visits to the home in order to let purchasers in. If they have to drive from far away this isn't possible.

Open Houses: Will your agent conduct open houses until your property is sold?