A great real estate agent can make a huge difference in many aspects of your selling experience, from your stress level to your profits. Read on to explore the many benefits of selling with a local agent, and discover what it will cost you.

What is the standard commission for a real estate agent?

Real estate agents work on a commission basis, making a percentage of the sale or purchase price of the home their client is buying or selling. Typically, as a seller, you’ll pay 6 percent of the sale price, with half of the total serving as the buyer’s agent’s commission.

Keep in mind that the commission is always negotiable up front, depending on local market factors or your own situation. For example, if you’re going to be using the same agent to help you sell your house and also to buy your new home, you may be able to negotiate a lower rate since they’ll be getting two commissions.

What is the difference between a listing agent and a buyer’s agent?

The listing agent, also known as a seller’s agent, works for the seller to help them sell their house, from listing to closing. The buyer’s agent works for the buyer, guiding them through the process of finding a home they love, into negotiations, and all the way through closing.

Benefits of using a listing agent

You might ask yourself, “Why to use a real estate agent to sell my home?” There are a number of services and plenty of expertise a real estate agent can provide, so it’s important for each seller to take a look at the list of benefits and decide if an agent is worth the expense.

1. Real estate agents provide local housing market expertise

• They have access to a comprehensive list of comparable homes and understand the value of homes in your area.
• Taking into consideration the current market conditions, they can strategize ways to craft the optimal selling approach, with the goal of earning the highest possible return on your home.
• They can guide you to setting the right price for your home, one that will allow you to both pocket as much money as you can while selling in a timely manner.
• They understand local housing codes and can point out any red flags on your property that buyers (and their home inspectors) will find.
• They can recommend the specific home improvements that matter most to buyers in your area.

2. Real estate agents market your listing

• They can provide recommendations for staging your home.
• They can hire a professional photographer to take great listing photos.
• Creating an enticing listing description of a property is an art form, and a skilled agent can call out features local buyers are looking for.
• They list your property on the MLS and online real estate sites like Residence HQ. In fact, agents have access to more listing outlets than sellers who are listing on their own. 
• They host open houses and showings, physically showing your home to buyers.
• They serve as a buffer between you and all potential buyers, fielding calls, answering questions, and scheduling showings.

3. Real estate agents network with other agents to increase buyer interest

• They may show your home to an agent-only crowd to increase buzz.
• They talk to other agents about your home, positioning it as a match for their buyers.
• Homes sold by agents are typically more appealing to buyers agents, as they know they’ll get a commission on the sale.

4. Real estate agents handle your negotiations

• They vet all potential buyers, identifying the serious offers.
• They skillfully work with the buyer’s agent to get you an offer that meets your needs in terms of price, timing, and repairs.
• They help you make smart decisions on negotiating counteroffers.

5. Real estate agents ease the selling process

• Selling a home comes with a lot of paperwork, and your real estate agent will handle it all.
• Professional real estate agents keep an eye out for deal loopholes and unusual requests, and read all the fine print.
• In a multiple-offer situation, they’ll help you identify the pros and cons of each offer, making your decision easier.
• They’ll recommend when you should counteroffer and when you should accept the deal.

When you hire a real estate agent to help sell your home, you benefit from their expertise and experience.

How do I hire a real estate agent?

There are lots of ways to find a great local real estate agent, including asking friends and family members for referrals and searching online. Check out platforms to see a list of agents in your neighborhood and read reviews from their recent clients. It’s important to interview multiple agents before choosing one.

You’ll also want to pay attention to the duration of your agent’s contract. If you’re working with an agent you haven’t worked with before, you may want to go with a short contract term, so that if your house doesn’t sell quickly, you can pivot to an agent who better fits your needs.

The post Why Use a Real Estate Agent to Sell your Home? appeared first on Residence HQ.

Put in maintenance requests ahead of time

If there’s something that requires the landlord’s attention, say, a leaky faucet or slow drain, put in a maintenance request before you move out so the landlord can have these taken care of before the next tenant takes occupancy. This is good for you, too, so you can dot your i’s and cross your t’s before moving day.

Fill in holes in the wall

This will mostly be nail holes from hanging pictures, but you may also have some miscellaneous nicks and dings here and there from normal wear and tear, children or pets. Grab some spackle and a putty knife. Remove all screws, nails, and hooks from the walls. Use the putty knife to pack the holes with spackle, then clean up the edge and flatten it with the straight edge of the putty knife. Once dry, use a block or piece of sandpaper to sand the area entirely smooth. If necessary, paint the wall to hide the putty marks. While it may seem like a hassle, your bank account will be glad you took the extra time.

Touch up or paint

The next step is painting, if necessary. Check with your landlords and lease about this. If you’ve painted any crazy colors (or if there are any marks on the wall, from kids or anything else), you are required to return them to white. Make sure you get a matching white to the rest of the apartment, so you aren’t stuck painting everything. Trim, especially trim marred by furniture or possibly chewed or clawed at by pets, may also need a bit of spackle and a fresh coat of paint.

Clean thoroughly

Clean your apartment from top to bottom, literally. Go around the baseboards with a wet cloth, and grab a broom or extended duster to grab spider webs from the ceiling and molding. Scrub every inch of the bathroom so that it sparkles. No mold residue or soap scum should be visible. Same with the kitchen —  and don’t forget the oven. Removing burners, cleaning the drip pans, and cleaning the oven bottom and door are good ideas. Remove cabinet liners and give cabinets a wipe-down, inside and outside.

Rent a carpet steamer

This is worth your time and hassle if you want your deposit back. Besides, your landlord will appreciate the effort. Carpet steamers are more efficient and stronger than a vacuum; they help remove odors, spots and will greatly improve the condition of a room for $50 and a few hours of your time. Be sure to plan ahead for this and move all boxes and furniture to non-carpeted rooms before renting your steamer and vacuum first to remove loose debris.

Check doors, windows and screens

Check doors for damage and putty/paint any spots pets, children, or cumbersome grocery bags or boxes may have left. Clean windows inside and outside if possible (and safe). Check all window and door screens for damage and repair with an inexpensive kit if necessary. These small things will all make sure your rental is in tip-top shape when the landlord walks through.

Grab some WD-40

A can of WD-40 is a tremendous help if there are any sticky or squeaky doors, drawers or cabinets. Spray it on the hinges and open and close several times to spread around the lubricant.

Remove everything

Make sure you check every area, including attics, behind doors, on top of cabinets, and under cabinets for personal effects. Leaving behind anything is bad form. Don’t forget to remove curtain rods you installed (and to cover any holes in walls – see above) or small pieces of furniture or dish ware. The one helpful thing to leave is a toilet paper roll in the bathroom. Everything else, including all trash, belongs to you and must be removed.

Hand over keys and garage door openers

Having all of the keys on a counter in one place makes it easy for the landlord to check they’re all present. Don’t forget to get back spare keys from friends, neighbors, or children. It’s also handy for you to have the original lease available to go over any questions with the landlord.

If something is broken, be honest.

Things break – it’s life. If something is broken, be honest and tell the landlord up front. Your landlord has to itemize expenses taken from your security rental deposit and cannot, under most circumstances, withhold the entire amount for one item. It’s best to be up front and earn yourself a good recommendation for future rental applications.

The post How to get Rental Deposit Back? appeared first on Residence HQ.

Home upkeep might seem burdensome, especially for a first-time buyer used to having the landlord do it. However, it need not be intimidating. Plan to complete one set of quick tasks by the month and additional tasks by the season. Your home will function smoothly if you follow this natural routine throughout the year and keep up with the tiny details.

Monthly Home Care

Clean the furnace filter. Clean filters help your HVAC run more efficiently, lessening the wear and tear on the system. This can also help you avoid expensive repairs and cleaning costs. You may want to replace your filters monthly or every few months depending on factors like whether you have allergies or pets and the quality of the filter.

Vacuum heat registers and vents. Dirt, dust, and debris collect in registers, obstructing airflow and making your HVAC work harder to maintain the temperature indoors.

Test smoke alarms and fire extinguishers. Your home is your most significant investment. Make sure the tools that protect it from a fire are working.

Inspect electrical cords for wear. Cords become a fire hazard if the rubber coating wears off or cracks.

Clean the garbage disposal. Grind ice cubes, then flush with hot water and baking soda to remove food buildup that can damage the device.

Clean faucet aerators and showerheads. Mineral deposits from tap water build-up and lower the water flow. Remove the aerators and soak them overnight in vinegar, then scrub them with an old toothbrush.

Inspect the outside of your home. Keep an eye out for loose roof shingles, damaged siding, cracked bricks, driveway or sidewalk cracks, insects, and overgrown trees or shrubs. Call a pro to correct any problems you find.

Spring

Inspect the trees. If you see lots of dead branches on a tree, or a tree hasn’t sprouted spring leaves like it should, call a certified arborist who can look for illness and catch a problem before it kills the tree. You also don’t want a tree weakened by illness to fall on your house.

Clean the gutters. Gutters control the flow of rainwater and snowmelt on your house, protecting your roof, walls and foundation. Clogged gutters can cause a roof to leak or water to get into your house. Clean them at least twice a year — more often if many trees hang over your roof.

Freshen the exterior paint. If you see peeling, chipping, or flaking paint, you may need a touch-up or full new coat of paint. Get the painting done before summer’s heavy rains and high temperatures damage exposed surfaces.

Wash the house. Water the winter away from your home’s exterior with a good scrub. Wash the windows and screens, and hose off the dirt, grit, and mildew from the façade. That grime can damage paint and masonry over time. Spray the house with a mild detergent that won’t harm your landscape and hose it off. You may want to resist the urge to use a power washer because it can damage siding and brick.

Check the HVAC. Call an HVAC tech to do a bi-annual checkup and service your system. They should check ductwork for any damage and clean and service the furnace and A/C compressor.

Clean ducts and vents. Call a pro to remove the accumulated dirt, dust — and if you have indoor pets ­— dog or cat hair from the system. Your HVAC won’t have to work as hard if the ducts are unobstructed, extending its life.

Check the deck. The cool days of spring are a great time to refinish the deck or replace rotten boards.

Update your home’s pest control contract. Hire a pro to check for termites, rats, and other home-damaging invaders every month.

Fertilize your lawn, trees, and shrubs. They slept all winter. Feed them now that they’re waking up.

Summer Home Care

Water plants and foliage. Make sure your greenscape gets plenty of water. Dead landscaping costs you money.

Check your sprinkler system. Look for clogged lines, leaky valves, and pools of water. Check the timers. Call a pro for repairs if you find problems.

Oil the garage-door opener. Oil the garage door’s chain and hinges, too.

Check for leaks around the toilets and in the dishwasher. Call a plumber if you see problems.

Prune trees and shrubs. This removes dead or diseased branches and keeps them healthy.

Seal tile grout in bathrooms and kitchens. Keep water from getting between the tiles and damaging walls and floors.

Fall

Fertilize your garden. Give your lawn, trees, and shrubs one last shot of strength before the coming of the cold.

Clean the gutters. With the autumn leaves raining down, this will be the most extensive gutter cleanout of the year. Remember, clogged gutters can cause a roof to leak or water to get into your house. 

Check the chimney. Get ready to use your fireplace by calling a chimney sweeper for an annual inspection and cleaning. They should be checking the flue, firebox, and damper.

Check the HVAC. As you did in the spring, hire a pro to service your furnace and ductwork. Ask the technician to check out the thermostat to ensure it works and ensure ducts and vents are unobstructed and undamaged.

Clean the dryer vent. You can do this yourself or get an HVAC tech specializing in dryer vents to remove the lint and inspect the vent. Clothes dryers cause almost 3,000 fires a year, and a blocked vent makes your dryer work too hard to dry clothes and blow its heating element.

Flush the hot water out of the water heater. This removes accumulated sediment that can destroy the appliance.

Seal air leaks. Grab a couple of tubes of color-matched exterior caulk and seal up any cracks between trim and siding, window and door frames, and anywhere pipes or wires enter your house. This will prevent moisture from getting inside your walls.

Drain in-ground sprinkler systems. Any water remaining in the lines can freeze and damage the system.

Wrap insulation around outdoor faucets and pipes in unheated garages. Uninsulated pipes may freeze, and when frozen pipes thaw, they flood the house.

Winter

Cover your air-conditioning unit. Protect it from the elements with covers made just for this purpose.

Clean refrigerator and freezer coils. Removing the dust buildup with a coil brush will help your fridge run better and last longer. Unplug the fridge before you do it. Empty and clean drip trays, too.

Inspect the roof, gutters, and downspouts after storms. Your house takes its heaviest beating in the winter. Call a pro if you spot damage. This is also an excellent time to check your basement for leaks (once the ground has thawed out).

Keep an eye on the pipes. You wrapped your pipes in the fall, but there’s more you can do to keep them freezing. Let a faucet drip on cold nights to keep water moving, and keep the thermostat set to a minimum of 55 degrees if you’re not at home.

The post How to take care of your home season by season? appeared first on Residence HQ.

Ask for Credit for the Work to be done.

The vendors are about to leave. They are probably packing and daydreaming about their life after the sale if the property nears closure. Repairing their aging house is the last thing they want to do. It’s possible they won’t approach the job with the same diligence as you, the new owner, would. They cannot even give the task much priority.

You can utilize the money from a cash-back credit at escrow’s end to finish the job on your own. Most likely, you could perform the task better than the merchant.

Finally, if you receive the credit, there will be less back-and-forth to ensure that the vendor did the repairs appropriately.

Think Big Picture

You probably won’t worry if a little portion of a bathroom floor is broken, if the faucet leaks, or if the tiles require caulking if you know you’ll be remodeling it in the near future. Those issues will be resolved during your next makeover.

Negotiations are still open on the repairs, though. Your closing fees will be partially mitigated if you request a credit from the seller to address these problems.

Keep Your Plans to Yourself

A reputable listing agent will accompany you, your agent, and the inspector on the home inspection. If you disclose your goals or your degree of comfort with the property in front of the listing agent, it might come back to bite you during further negotiations or talks.

They will be more ready to let the seller know if they think you are uncomfortable with the home inspection. On the other hand, if you spend two hours choosing paint colors and measuring the areas, you lose negotiating leverage.

The sellers will undoubtedly learn about your plans for a complete kitchen makeover if you make that information known. Additionally, they won’t be as likely to give you credit to fix parts of the kitchen cabinets during repairs.

Eyes Wide Open

Never sign the original contract with the expectation that you may and will lower the price following the examination. It will bite you in the rear, especially in a cutthroat industry.

There is nothing to discuss if the property inspection is perfect. You run the danger of alienating the sellers and potentially providing them motivation to go on to the next buyer if you try to bargain in any case to make up for what you lost during initial contract talks.

You must enter escrow with all of your eyes open. A real estate deal isn’t finalized until the money is exchanged and the deed is handed over. Be alert at all times. Otherwise, you run the danger of missing out on additional good chances for bargaining, which can result in buyer’s regret.

The post How to Negotiate Repairs After a Home Inspection? appeared first on Residence HQ.

25 percent of sellers get a home inspection before contacting an agent. It’s the third-most common pre-listing, pre-agent activity, behind completing home improvements (which 50 percent of sellers do) and coming up with a listing price (39 percent).

One of the main reasons sellers do a pre-inspection is to know ahead of time what a buyer will find during their inspection. 85 percent of buyers get at least one inspection while buying a home, so knowing what they’ll find ahead of time can lower stress and prevent long-drawn-out negotiations.

Getting a pre-inspection may not be worthwhile if your home is brand new, you’ve made updates recently, or you already know there are issues and you don’t have the money to make repairs before listing.

Pre-listing home inspection cost

A pre-listing home inspection costs between $250 and $700, depending on where you live and the size of your home. For some sellers, the upfront cost is worth pre-inspection benefits. Remember that you won’t have to pay for another inspection once you have an offer in hand — that’s the buyer’s responsibility.

What a pre-listing home inspection covers

Like a buyer’s home inspection, a pre-listing home inspection checks major systems, mechanicals, windows, and doors and looks for signs of water damage, mold, and cracks. You may also choose to pay extra for radon testing, well-water testing, internal mold testing, or lead-paint testing.

Motivations for a seller’s home inspection

Every individual seller’s motivations are different, but here are some of the most common reasons people decide to hire a home inspector before listing their home for sale.

Fear over losing a buyer to property condition

If you’re concerned that a poor buyer’s home inspection could break a deal, you might do a pre-inspection now so you can repair any major defects before listing. This will help you avoid a lengthy (and stressful) negotiation with your buyer and could prevent them from walking away over severe repair and maintenance issues.

Some of the most common issues that raise red flags in a home inspection are roofing, plumbing, electrical, or foundation issues; termites or other pests; mold or water damage; window or door problems; chimney damage; asbestos; and lead paint.

Fear of limited offers due to incorrect pricing

If you don’t price your home in a way that properly reflects its condition, you may have a hard time attracting buyers. And you risk accepting an offer only to have the buyer’s inspector find hidden problems that lead them to cancel the contract altogether.  

A canceled contract will appear on your home’s property history on the MLS and sites like Zillow and Trulia. Buyers and agents are typically wary of homes already being offered falling through. If you have a contract canceled, be prepared to answer why — buyers’ agents will ask!

Fear of equity stuck in the home

Sellers may use a pre-listing home inspection to streamline the sale process in hopes of closing faster. This is especially common for sellers who need to use the cash from their home sale as a down payment on a new home. Completing a pre-inspection can indeed shave a few days off your sale process if it leads to buyers being willing to waive their inspection after seeing your pre-inspection report.

Benefits of a pre-listing Home inspection

In addition to mitigating some of the fears listed above, here are a few additional benefits of completing an inspection before listing.

Better marketing

Pre-inspections don’t only uncover negatives — they can also allow you to promote what’s great about your home. If your inspector gives you any good news — like your furnace has plenty of good years left or your sewer connection is in perfect condition — you can promote those in your listing.

Making the results of your pre-inspection available to buyers is a way to build trust. Building trust with your buyer is especially important if you’re selling for sale by owner (FSBO), as you’ll be working with your buyer directly.

Valuable improvement advice

A pre-inspection can help sellers prioritize which improvements and upgrades to complete before listing. By following your inspector’s advice, you can update the parts of your home that are in most crucial need of repair and bypass less important upgrades. Remember, buyers, aren’t just looking for cosmetic upgrades. They also want to know that your home’s major systems are in good shape. So if you end up replacing your roof, upgrading your HVAC system or installing new energy-efficient windows as a result of your pre-inspection findings, you’ll want to use those as selling points.

More negotiating power

When you already know the issues that will come up during the buyer’s inspection, you can price accordingly, giving you stronger negotiating power. For example, if you’ve already factored the need for a new roof into your listing price and you make that clear upon receiving the initial offer, buyers are less likely to come back and try and get you to lower the price further.

Alternatively — but equally as beneficial — if your pre-inspection comes back clean, you will have more leverage when negotiating with buyers.

Time saved

With all the information about your home (good and bad) already out in the open, you won’t have to worry about a lot of renegotiating once the buyer does their inspection. And if you opted to have the repairs done before listing, you also won’t have the stress of trying to fit in a bunch of repairs while you’re busy trying to pack and move.

You’ll attract serious buyers.

If a buyer is already informed about what’s in your pre-inspection and wants to move forward with the purchase, it’s a good sign that they’re a serious buyer.

Opportunity to oversee the repair

If an issue is uncovered during the buyer’s inspection, they’ll likely want you to repair it before closing or offer a credit. If they want the repairs completed before closing, the buyer will probably request that a licensed professional complete the work (not done DIY), and they may even want to choose their contractor.

So, if you can complete the repairs before listing, you have control over the contractor you use (and the budget), or you can even DIY the smaller projects.  

Disadvantages of a pre-listing home inspection

Just because your inspector caught something doesn’t mean the buyer’s inspector would have. So, when you do a home pre-inspection, you may find issues that may have otherwise gone undetected. And once you know about them, you’re usually obligated to fix them — more on that below.

Do you have to disclose a pre-sale home inspection?

Yes, you do have to disclose property condition issues that you are aware of (whether you know of them because of the pre-inspection or for another reason). What you are required to disclose depends on where you live, but you must generally let a buyer know about any significant flaws in your home. Even in states with less-strict disclosure laws, you are still required to disclose an issue if asked directly.

Ask your real estate agent for a list of the required disclosures in your state. They are usually related to major systems in the home, structural issues, health concerns or items that would be very expensive to fix.  Here are a few examples of common disclosure questions:

• Are you aware of any lead-based paint in your home?
• Are you aware of any past flooding?
• Are you aware of foundation issues with the home?

Note that anything found during the pre-sale home inspection would be disclosed simultaneously as any issues you already knew about in your home. Disclosures are usually shared upon receipt of an offer but can also be made available to interested buyers before they make an offer.

Do sellers disclose repaired items?

Technically, if the issue has been remedied, the seller must no longer disclose it. However, the rules vary state by state, so consult your real estate agent or attorney. Remember, though, that disclosing certain items you’ve repaired can be a positive for buyers.

Repairs to point out in marketing

Buyers know that maintenance and repairs are just part of owning a home. So anything you can point out that is recently repaired or upgraded can be very attractive to buyers. Here are a few repairs that buyers love to see:

• New roof: Replacing a roof is a big-ticket item, so if your roof is new, ensure it’s noted front and center in your home’s listing description, e.g., “Roof replaced in 2019!”
• New wiring: If you did work to bring your electrical system up to code, call it out — especially if you’re selling an older home and buyers might be wondering about the electrical anyway.
• A new furnace or AC: Every major system in your home has an expected life span, and having to replace a furnace or air-conditioning unit shortly after buying is a worry for buyers. It can put buyers at ease if you’ve recently replaced one or both of these items. 

The post Should I get a pre-listing Home Inspection? appeared first on Residence HQ.

Remember that breaking a lease is easy; paying the steep penalties may not be. Here are a few ways to help you and your landlord navigate this process amicably.

Give advance notice

If you’re not renewing the lease, you typically need to provide at least 30 day’s notice to the landlord before the contract ends. Check your lease to make sure, because it may require more notice (60 or 90 days).

Always give notice to vacate in written form. These letter templates can help you make sure you include all the important details.

Short-term rentals covered under a month-to-month rental agreement likely have different notice terms, which should be included in the contract.

Know the law

Local, state and federal laws protect both renters and landlords, and they usually vary depending on where you live.

Federal law protects individuals who enter active military service, while each state has its own specific laws to protect tenants in special circumstances. Some states also require landlords to make reasonable efforts to find another renter for your unit, regardless of why you have to break the lease.

In these cases, you’ll want to consult an expert to determine your rights and responsibilities. Larger metropolitan areas often have tenants’ unions that can help renters navigate such disputes. These organizations can also help if your landlord doesn’t actively try to find a new renter, tries to charge you more money than what is legal or fails to answer your inquiries.

Be prepared to pay or provide a solution

If your reason for breaking the lease is not protected by the law, check your lease to determine exactly what it will cost you. Likely, you’ll have to pay a steep fee and/or cover the monthly rental cost during your remaining agreement period. You probably won’t get your security deposit back either.

Consult with your property manager to see if you can come up with a solution. Remember that breaking a lease creates a financial burden for both the renter and the landlord, so both parties have an interest in efficiently resolving things.

Look for creative alternatives that can mitigate costs on both sides. For example, if your agreement allows it, offer to find someone to sublet or rent with a new lease.

But remember: Even though most subletters sign their own agreements, the actual lease will still be under your name, making you legally liable for any damage. Check here for a sample request-to-sublet letter.

Document everything

Get every conversation about breaking your lease in writing. Email is the easiest way to document, but if you have face-to-face or phone interactions, take notes and email your landlord to confirm the details.

This may help avoid miscommunication between parties or bolster your case should the issue escalate.

Seek expert legal advice

Navigating federal, state and local laws can be challenging on your own. If you think you have a case and need advice, you may need to consult a legal expert who specializes in tenant rights.

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