What is My Home Worth?
The million-dollar question! You’ll often hear that your home is worth what someone is willing to pay for it—but that doesn’t help you figure out how to price it before listing. That’s where I come in.
When selling your home, there are a few types of “worth” to consider, and I’ll help you navigate each one.
What price will generate interest in the buyer pool for your home?
If we can’t attract interest from buyers, your home isn’t going to sell. The first step is to analyze what comparable homes in your area have recently sold for. While online sales prices can give you a general idea, I’ll dig deeper with detailed research and data to help us set a competitive and strategic price.
We’ll also look at the bigger picture—how the current market is behaving. Are homes like yours selling quickly, or is demand slowing down? Pricing your home in a way that stands out often involves more than just matching comps, especially if it’s a buyer’s market.
What value will a potential buyer assign to your home?
Every buyer sees your home differently. The upgrades and personal touches you’ve added may not always align with what buyers value. For example, the custom marble countertops you love might not be a selling point for everyone—they might even think about replacing them.
This is where I’ll help you step back and see your home through a buyer’s eyes. Together, we’ll determine what small changes or updates can increase the perceived value of your home and make it more appealing.
What value will an appraiser assign to your property?
Appraisers play a critical role in determining the value of your home, especially when a buyer is relying on financing. Different types of loans, like FHA or conventional, can influence how an appraiser evaluates your home.
If you’re considering getting an appraisal before listing, I’ll help you understand how to interpret those results. Just remember that appraisals are a snapshot of value at one moment in time—what your home is worth today might shift next month depending on market conditions.
By working with me, you’ll have the guidance to price your home competitively while balancing buyer expectations, market trends, and appraisal considerations. Together, we’ll make sure your home is positioned to attract offers that reflect its true value.
How much are a seller's closing costs?
In North Carolina, seller closing costs typically range between 1% and 3% of the home's sale price, excluding the real estate agent's commission. Here's a breakdown of the common costs a seller may encounter:
1. Real Estate Agent Commission (Listing Agent + any agreed amount toward the Buying Agent)
2. Excise Tax (Transfer Tax)
3. Title Clearing Expenses (if circumstances require)
4. Deed Preparation
5. Satisfaction of Lien Recording Fee
6. Prorated Property Taxes
7. HOA Fees (if applicable)
8. Repairs or Concessions
9. Home Warranty Fee furnished to the buyer by the seller (optional)
10. Miscellaneous Fees
How I Can Help
As your agent, I can provide a detailed estimate of your specific closing costs based on your property and location. I'll also help negotiate repairs, concessions, or other terms to ensure the process is as smooth and cost-effective as possible for you.
Should You Sell Your Current Home Before Buying Another?
Deciding whether to sell your current home before buying another depends entirely on your unique situation, and I’m here to help you figure it out.
The first step is determining whether it’s even feasible to purchase a new home while still owning your current one. If you have a mortgage on your existing home, you’ll need to qualify for both that mortgage and the new one simultaneously. I can help you evaluate your options and connect you with the right professionals to assess your financial position.
For some, it’s less stressful to move into the new home first, especially if you have a busy household or pets. Buyers often want to see homes as soon as they hit the market, and keeping your home in pristine showing condition while managing daily life can feel overwhelming.
On the other hand, selling your current home first can simplify things. Without the burden of two mortgages, you can focus on your next steps without the financial pressure of owning two properties at once.
Coordinating a sell-and-buy situation is entirely doable, and that’s where I come in. I’ll guide you through every step, paying attention to the details to ensure a seamless process. Whether you decide to sell first, buy first, or explore other strategies like a rent-back agreement, I’ll help you make the best decision for your needs and keep everything running smoothly.
When Is the Best Time to Sell?
While certain times of the year, like the months near the end of the traditional school calendar, are often considered ideal for selling, the best time for you depends on your personal goals and circumstances.
Here are two examples where timing plays a critical role:
Relocating for a dream job and need to sell quickly?If your priority is selling fast, with price as a close second, you’ll need a strategy tailored to the current market conditions—possibly even down to your specific neighborhood. I can analyze the local market, identify the features that are helping nearby homes sell quickly, and recommend updates or adjustments to make your home stand out. Together, we’ll develop a plan to attract buyers and get your home sold in the timeframe you need.
Hoping to move into your dream waterfront home and maximize your sale price?When getting top dollar is your priority, it’s crucial to understand the market for both your current home and the one you’re planning to buy. I can help you assess the timing and pricing strategies that will work best, considering whether selling during the "off-season" or temporarily renting might give you an advantage. With the right guidance, we’ll position your home to achieve your goals while navigating the complexities of selling and buying.
Whatever your circumstances, I’ll help you evaluate your options and craft a selling strategy that aligns with your unique needs and timeline.
What are an agent's responsibilities and how much are the fees?
In North Carolina, a real estate agent's responsibilities include helping you set the right price for your home, marketing the property, coordinating showings, negotiating offers, and guiding you through the closing process. They handle the human aspect of the transaction—managing emotions, overcoming communication challenges between parties, and addressing any unexpected roadblocks that may arise. Your agent also ensures all paperwork is completed accurately and on time, helping you navigate local laws and regulations throughout the sale.
As for fees, the commission for a real estate agent is typically a percentage of the sale price, though this amount is negotiable. The commission structure may vary depending on the agreement and could include a split between the listing agent and the buyer's agent, or other arrangements that may be made. It's important to discuss the commission and services with your agent to ensure both parties are clear on expectations and pricing.
How long does it take to sell a house?
The time it takes to sell a home can vary depending on a few key factors. Market conditions are one of the biggest influences—when the market is strong, homes tend to sell faster. However, in a slower market, it might take a little longer. The pricing strategy you choose is also crucial. If you price your home correctly from the start, you'll likely attract more buyers and see a quicker sale. Overpricing, on the other hand, can lead to your home sitting on the market for longer, possibly requiring price reductions down the road.
The unique aspects of your home, like its location, size, condition, and features, also play a role in how fast it sells. If your home has desirable features, it could attract more attention. If there are repairs or updates needed, it may take a bit longer to sell.
When you list your home also matters. Listing during peak selling seasons—like spring and early summer—often results in quicker sales because of increased buyer demand. However, listing during the winter may result in a longer time on the market, though there’s often less competition.
Looking back at the 2019-2020 market, it was an exceptional time for sellers. Homes sold quickly due to low inventory and high demand. While we’re not in that same market anymore, homes can still sell quickly in a hot market, but every situation is different.
Ultimately, the time it takes to sell depends on these factors, but as your real estate agent, I’ll help you set realistic expectations, develop a solid strategy, and work to get your home sold as quickly as possible.
Who Pays the Buyer’s Agent?
When you purchased your current home, the fees for your agent were likely covered by something called Cooperating Compensation. In this arrangement, the seller agreed to pay the listing broker a specific fee. Once your offer was accepted and became a contract, the listing broker shared a portion of their fee with your agent.
As of late 2024 (or earlier in some areas), this process has evolved. While Cooperating Compensation still exists, sellers now have more options to decide how—or if—they contribute to the buyer’s agent fees. Here’s what that might look like:
If you choose not to contribute to these fees, it’s important to consider the potential impact on your home’s appeal. In this area, VA loans—frequently used by military and veteran buyers—are a significant part of the market. VA loans allow qualified buyers to purchase with little to no money down, but traditionally, the VA forbade buyers from paying agent fees. While a temporary ruling now allows buyers to cover these costs, the fees still cannot be rolled into their loan, which limits the cash available to many VA buyers.
By declining to offer buyer agent compensation, you may unintentionally exclude a large pool of military buyers who simply don’t have the upfront cash to cover these costs.
How I Can Help
I’ll help you navigate these changing dynamics, offering tailored advice to ensure your home remains competitive and appealing to the broadest range of buyers. Together, we’ll weigh your financial goals against market trends, local buyer demographics, and compensation strategies to find the best approach for selling your home effectively.
