Once you make the decision that you are ready to sell or buy a home, ask yourself this question: “What details should you reveal about yourself and your house in order to realize your goal?”
Your REALTOR works for you, representing you, and looking out for your best financial interest. It’s their job to help you to obtain your goal; however, sometimes buyers and sellers hesitate when it comes to sharing important information.
Perhaps you simply do not know what information would help your REALTOR with protecting your bottom line. Sometimes, disclosing too much information to anyone can make you feel vulnerable. It is important to be prepared for the specific things your REALTOR should know as they represent you and your needs.
Here are 4 Things You Should Share with Your REALTOR:
Don’t hide repair issues: As a seller, if you know that your house has issues which are things that buyers fear (mold for example), you need to let your REALTOR know. If you have repaired the issue, you can present the receipts for the repairs or mitigation services– which would negate any concerns. Fact is, your buyers will do a home inspection before the deal is done and it will probably reveal if there is (or once was) an issue with any of the key components of the home. If you hide issues and get away with it, you could face a lawsuit from the buyer later down the road, when they eventually find out. So, it is best to be honest and upfront about any of these types of issues and avoid that unpleasant moment of surprise when buyers (and your REALTOR) learn the full story and feel you were hiding it.
Share your ideal timeframe and any reasons for urgency: This can help your REALTOR determine the best course of action in terms of marketing, negotiations, and even pricing. For example, if you are not in any rush, you could afford to price aggressively and see where the market and buyers’ interest takes you.
Include must-have contingencies: Maybe you are building a home and it needs appliances, so you plan on taking all of the appliances with you when you sell. Maybe its custom made drapes you won’t leave behind. Most people leave the range, dishwasher, often the fridge, and anything custom made to the house. Your REALTOR should know this information upfront so they know what to include in the listing information. Buyers don’t like the surprise of missing items that they assumed were part of the deal.
Explain the type of home you want and all must-have amenities: If you are a buyer, it is vital for you tell your REALTOR exactly what it is you want in a home –from the style and age, to the location and must-have items (like a huge walk-in closet in the master bedroom). Also include the basics like number of bedrooms, square footage, and number of bathrooms to help your REALTOR find the right listings for you to view. This saves time and frustration by eliminating properties that don’t fit your needs or desires.
Communication is key to a great working relationship with your REALTOR. Certain facts must be shared to both protect your interest, the sale, and help you realize your ultimate goal.