Q: How much needs to be done to my house before putting it on the market?
Our best advice, before spending months and millions (figuratively) upgrading your place—or just throwing up your hands and giving up before you begin—show your home to a Realtor. You might be pleasantly surprised by your current sales prospects. A lot of times there are things that don’t need to be done and sometimes there are important things you want to address before listing your home. Our team can help guide you in the direction and offer advice for your listing.
Q: How much is my house worth?
While the median home price in the Phoenix area is about $273,000 (According to azcentral.com in 2018), including new homes, the exact price of your own home will depend on its size, neighborhood, and lots of other factors. Further complicating matters is your own skewed perspective: We tend to mentally inflate our home’s positives and airbrush out the flaws that are all too apparent to the cold, calculating eyes of buyers. Be careful to not compare your property to the highest price home in your neighborhood, but rather price your place strategically. Stay realistic.
Q: How long will it take to sell my home?
According to Zillow, in 2018, homes in the Phoenix area were on the market an average of 68 days. However, the sales time varies wildly based on area and price. Pricing competitively and make sure that you and your agent are getting the place in front of as many eyeballs as possible.
Q: Is staging really important?
On average, a staged home sells 88% faster—and for 20% more money—than a home that’s left as is. The reason it works, of course, is it gives buyers a “stage” onto which they can play out their home-owning fantasies and envision themselves living in your home. We have an amazing staging designer who stages all our homes when needed and our listings do not sit on the market for long when they are staged and priced properly. This service is part of what we do and we never charge for it.
Q: Should I be present when buyers view my house?
We recommend you are not present but you can come by when there is an open house, it’s just better to not claim ownership so potential buyers are not uncomfortable. A solid real estate team will share questions, comments and surveys from showings with you. At KGG, we have a list of questions we ask each and every potential buyer then that feedback is relayed to our sellers and the seller can make adjustments on items as necessary.
Q: What is the agent’s commission?
While the commission can vary, it is typically 6% of a home’s sale price —and that’s usually shared with the buyer’s agent. But what’s implied by this question is “What are Realtors doing to earn that fat check?” Here are some facts to keep in mind: Unlike lawyers who get paid by the hour, or doctors who are paid by the appointment, listing agents don’t get paid unless they make a sale. For every hour an agent spends with a client, he or she will typically spend nine hours on average working on that client’s behalf doing everything from networking to finding potential buyers to filling out paperwork. And no, not all agents are created equal. It’s no different from choosing an attorney, accountant, or the doctor who will deliver your baby. You want to be sure that you trust that person and are comfortable with them.