Sellers’ Q & A
A: Consider the season and the weather in your decision. Generally, the real estate market picks up in the early spring after winter months. / Here in the Tulsa area, our real estate market remains very upbeat. Positive signs continue to look bright with job opportunities. Another factor is the time of year you choose to list your home for sale. Remember – buyers buy homes year round. While the market does traditionally shrink somewhat during the holidays, home sales rebound nicely as spring approaches. The strongest selling season is typically during the spring months through July. August is often one of the slowest months of the year, mostly because home buyers and sellers alike to summer vacations.
A: An appraisal and/or comparative market analysis (CMA) are your best indicators. Your realtor can help you arrange both of these. When selling your home, setting the right price is absolutely critical to your home selling success. We recommend you follow these steps to insure you’ve set the best price for your home.
- Understand what the current real estate market conditions are and accumulate the recent sales and competing properties currently on the market. Be prepared to price your home based on current data and not emotional attachment to you home.
- Compare apples to apples and take into consideration factors like the square footage, number of rooms, location and overall condition of your Tulsa home.
- Real estate market conditions can and do change. Prices are constantly changing based on current market conditions. We recommend you base your home’s price on the most recent comparable sales in your neighborhood.
- Request a Bigelow Group Home Valuation (CMA) – a background and analysis that helps determine a fair market value for your home.
- Make sure your home is staged for top dollar and the curb appeal for your single-family home, condo, townhome, etc. is spectacular!
A. There are 5 primary factors affecting the sale of your home:
- Market – whether the market is tilted to favor sellers or buyers greatly influences the sale, both in terms of price, and time on market.
- Condition – properties in “market condition” tend to do much better, getting sold more quickly and for higher prices. Think staged interiors and landscaping for curb appeal.
- Location – all real estate is local. Some neighborhoods do better than others, even in the same zip code. What is in the surrounding area? What about shopping, transportation, other businesses nearby? Do the area schools have a good reputation?
- Price – getting the price right for your house. Too high and your house could sit a long time and may result in selling for lower price in the long-run.
- Quality of Construction – In a neighborhood where one builder has built all the homes, quality will be more or less equal. Where there are custom homes, the obvious appearance of quality in custom construction is of utmost importance. What should I do to get my house ready to market?
A: Declutter countertops, walls, closets, etc. Clutter hinders the buyer from seeing how their furniture, etc., will look in the house. Clean and organize all rooms, above all, clean bathrooms and the kitchen. Closets should be in good order, minimize stuff on the floor. The exterior, mow the lawn, trim bushes. First impressions (curb appeal) can determine whether or not the buyer will even look inside.
A: Realtors are trained to market your home. The have access to tools to advertise the sale of your home, including some internet sites, that are restricted only to those listed with Realtors. Realtors are experts in the local market. Realtors have access to transaction documents to List and Sell your home. Probably most important, they are connected to the most important real estate network in the country – the Realtor network. The Bigelow Group is equipped with the knowledge and the tools to promote the sale of your home in various media to get it sold in the shortest amount of time, for the right price, with the least amount of hassle for you.
A: The Seller’s Disclosure is the owners sharing information about the property being sold. It is important to be honest about the condition and attributes of your property when completing a Seller’s Disclosure. Sure things go wrong and things break after a sale has been completed. But the last thing you want is for a buyer to believe you knew about the issue and failed to disclose it. Be open. Be truthful. Don’t try to hide a defect.
A: The agent will advertise the open house and put up yard signs and try to get people to the open house.
Here are some tips for the seller:
- Clean the entire house including the garage and remove clutter
- Mow the lawn or remove toys from the driveway and yard or in winter shovel the snow from driveway, sidewalk and walkway.
- Lock up valuables and prescription medicines.
- Take your pets with you.
- Put fresh flowers in some of the rooms.
- Turn on all lights.
A: A 1031 exchange refers to legislation that allows an investor to sell a property, reinvest the proceeds in a new property and as such defer all capital gain taxes.