Selling your Salt Lake City Home - FAQ
If you are planning to sell your Salt Lake City home in the near future, you will likely come across some questions about the process. Of course, Salt Lake City real estate agents are the best resource for specific questions regarding the sale of your home; however, just to get you started on your home selling process, here are some answers to common questions among home sellers that you might find helpful.
- How do I choose the right Salt Lake City real estate agent?
Choosing your Salt Lake City real estate agent is a highly personal, and important, decision. Keep in mind that you will need to work closely with this person for a duration of several weeks (maybe several months). Selling a home involves a significant amount of money and complex legal documents. There is a lot at stake for the home seller, so take the time to choose a real estate agent with whom you feel comfortable. Check with family, friends, coworkers for a referral. Experience is an important factor as well.
- How do I determine a listing price?
Salt Lake City real estate listings include homes in all price ranges. Determining the value of your home will depend on a number of factors. Your Salt Lake City real estate agent will typically look into “comparables”, or "comps," which are similar homes that are listed in your neighborhood or similar properties that have recently sold. Whether you are in a buyer’s or a seller’s market will also influence the listing price as will the condition of your home and how anxious you are to sell the home.
- What is an MLS?
The Multiple Listing Service, or MLS, is a database that allows licensed brokers and real estate agents to store and share information about homes that are up for sale. Listing contracts between home sellers and their listing agents typically include a clause that allows the real estate agent to add your property information to the MLS database.
a. Who manages the MLS?
There are hundreds of different MLS systems nationwide, and each MLS database is managed by an association of local brokers/real estate agents. Basically, a group of real estate agents in a given area form a local association and require all of its participating members to pay a fee. This membership fee is then used to manage the MLS system.
- What costs are typically involved in the sale of a home?
Some of the costs involved in selling your home are the fees for a home inspection, appraisal, escrow fees, a title search, and various other closing costs. These costs will vary widely and depend greatly on what you negotiate with the buyer in the contract for sale. You will also be responsible for paying your Salt Lake City Real estate agent.
- How can I attract buyers to my home?
Your Salt Lake City real estate agent will advertise your home through a variety of mediums such as the MLS, internet, newspaper, etc. For your part, your home should be clean, clutter-free, and have curb appeal.
- Do I have to accept an offer made on my home?
No, but if the offer mirrors the terms/conditions that are stated in your listing contract, then you might still be obligated to pay your estate agent commission.
- How long will it take to sell my home?
This is a question that is best answered by your Salt Lake City real estate agents because it depends, to a great degree, on the current market conditions as well as your willingness to negotiate.
For specific questions relating to the sale of your Salt Lake City home, be sure to consult with your Salt Lake City real estate agent.