Home Selling in Utah
Selling a home can be one of life's most challenging and frustrating experiences. Every home is unique, and every buyer has different preferences. It's hard to determine who will be interested in buying your property, what they will be willing to pay for it, and how long it will take for them to find it. When selling a home, you are also usually involved in buying a home, and sometimes relocating to a far away place. This is a lot for a seller to deal with. The new home purchase is often contingent on selling the old one, and there are about a thousand steps that could go wrong. Having the help of a knowledgeable real estate agent can make a huge difference and can greatly ease this complicated transaction process.
Many home owners are hesitant to list with a Realtor because they want to avoid losing their equity by paying a commission. In many cases they choose to sell by owner, spend a few hundred on advertising, then after months of little or no results end up listing with an agent after they move and have no other choice. If you are in no rush to sale, it doesn't hurt to try selling by owner because sometimes homes sell simply because their is a sign in front of their house. However, if you are in a rush to sell quickly you should consider professional help.
The fact is, homes listed by Realtor’s sell for more money than those sold by owner. The average home listed by an agent sells for 16% more than the average home listing by owner (which far out weighs a 6% commission.) Buyers looking for FSBO's are looking for a deal, they feel they should be rewarded the Realtors commission for finding the house themselves, and will almost always low ball an offer.
There are also discount realtors - who will list a house for much less than 6%, and usually do almost as much for you as the full service brokers. One of the best Discount Realtors in the Salt Lake Valley is Zip Realty.
Tips to Help you Sell your Home
Price Your Home Right
Sellers often think that a higher price will give them negotiating room. But in fact many buyers don't even look at a property that is overpriced, much less make an offer on it.
This can lead to the property’s becoming “shop-worn.” Buyers often inquire about the length of time a property has been on the market. If it has been on the market a long time, they begin to wonder if there is something wrong. The sellers then have to drop the price, taking less than they might have if they priced it correctly to begin with.
Well-priced homes attract buyers in their price range. If the buyer perceives that a home is a good buy, the seller is positioned to receive the listing price or close to it.
Listing your House
Most Realtors like to tell you that the standard listing fee in Utah is 6%. The fact is, the average listing price is closer to 5%, and all listing fees are negotiable. It's recommended that you interview several Realtors before selecting a listing agent.
Selling a Utah Condo
Condos are generally easier to sell than Utah Houses. They are easily found, and are easy to price as most units are very similar. For some free interet help in selling your condominium post your Condo on the sites listed on this page.
What to do if you get multiple offers:
There are three things you can do if you get more than one offer in Utah:
1. Ask all the buyers for their highest and best offer.
2. Counter both offers with an Addendum to Real Estate purchase contract for multiple offers which states that you have the option to accept their acceptance.
3. You could also accept one offer and reject the other offer and put it in a back up position. offer.
Placing your home up for lease option is another strategy to consider when your home just won't sell.
