What to Consider when Selling a Seattle Home - FAQ

Selling your Seattle home can be an exciting endeavor, and If you have never been through the process of selling your home before, then you probably have a lot of questions. Even though it is not required, it is recommended that you turn to a Seattle real estate agent for more comprehensive advice. However, just to get you started, here are some answers to common questions that sellers have regarding Seattle property listings:

Are all Seattle real estate agents the same? The simple answer to this is “no." Some Seattle real estate agents specialize in representing buyers and some represent sellers. For example, a listing agent has a fiduciary duty  to the home seller, while a buyer's agent will have a contractual obligation to the home buyer. In addition, an agent may focus on a specific geographical area or may specialize in homes in a specific price range (e.g. luxury estates). When choosing your real estate agent, be sure to do your homework and research the agent’s credentials, experience, and expertise. You may also want to spend an hour or so with the agent to be certain that you feel comfortable with the agent and that your visions regarding the sale of your home are similar.

How can I determine the fair market value of my Seattle home? In order to determine what the current fair market value of your home is, you and your real estate agent will look at recent Seattle property listings for comparable sales. Referred to as “comps”, these will give you an idea of what similar homes have sold for in the recent past. You can then adjust the price up or down, based on how your home differs from those that have sold recently to arrive at a fair market value on which to base your listing price.

What is the MLS? The Multiple Listing Service, or MLS, is an invaluable tool when you are selling your home. Seattle real estate agents are able to input your home’s listing into a MLS database which affords agents and brokers throughout Seattle access to all the pertinent information regarding your home.

How can I find a buyer for my home? The key to selling your home is finding the right buyer. Your Seattle real estate agent will use a variety of tactics toward that goal. Some of the tactics your agent may use include inputting your listing into the MLS, advertising over the internet, newspapers, and flyers, and conducting open houses. As a seller, you can help by ensuring that your home is clutter-free, properly staged to attract buyers, and that the outside has curb appeal.

Am I required to accept an offer made on my home? Only you can make the final decision to accept an offer made on your home. Typically, there is a brief period of negotiation before you arrive at an agreement to sell your home. If, however, an offer is presented to you that mirrors the terms and conditions agreed upon in your listing contract and you refuse the offer anyway, you could be obligated to pay your Seattle real estate agent’s commission.

If you have specific questions relating to the sale of your Seattle home, sit down with your real estate agent and discuss your questions and concerns before you enter into a listing contract.

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