BUYING & SELLING | A FIVE-PART SERIES PRESENTED by MG Residential’s Resident Blogger | Katie Shea Britton
PART 1 | GET LISTED
There are as many different reasons for listing a house as there are properties on the market at any given time. Great new job in a distant city? Let’s go! Feeling the need to be closer to family? Time to move home. But some reasons are less obvious, though equally as valid. Does your current home function in a way that’s less-than-ideal for your lifestyle or family? You’ve invested your time and your money into creating a home, and if those are not paying you dividends – both financially and emotionally – perhaps it’s time to list.
Even for those homeowners who’ve been through the purchase process before, the notion of “where do I start?” hits right away. Maybe you haven’t spoken with a lender since your last refi a decade ago. Or the lender you worked with to buy your current home has switched to another financial institution. Before any conversations with a lender, you’ll want to consider your current home’s value, which will then give you an idea of your new purchasing power. Any stellar real estate agent will make clear that he or she does not set the sales price for your home – the market does. Once more… the agent does not set the sales price for your home, the real estate market sets that price. Based on careful evaluation of current market conditions and the best set of comparable properties (“comps”) available at that time, your agent will work with you to establish a reasonable list price based on ALL of your criteria. Looking to sell quickly? Let’s price accordingly. Looking for top dollar? Let’s do the prep work necessary to make that achievable. The key in this whole strategy is finding the right listing agent. So how is that done?
As in most industries, real estate professionals work hard to earn business. And more often than not, the best business is earned through referrals. Hopefully, you can think of a friend, family member, colleague, or neighbor who sold their home successfully, meaning they sold for the best price in the shortest amount of time with the least amount of hassle. You’ll want to get their agent’s contact information right away! Perhaps you’ve seen “For Sale” signs popping up in your neighborhood and you’ve seen them quickly change to “Under Contract” and then “Sold.” You’ll want to give those signs a closer look. Those agents might be well-established in (and therefore well-educated about) your neighborhood. No matter the source of the recommendation, strive to connect with the agent you feel will be your guide, advocate, and interpreter through the complex process of listing your home. In the end, your ability to communicate clearly with one another will set the tone for a successful relationship.
Once you’ve signed your listing agreement and you’re ready to go, your agent should be able to make any introduction you’ll need throughout the process. He or she will likely have lenders with whom they’ve worked in the past; also cleaners, landscapers, and handymen on speed-dial. And the great agents will have already been working their networks of buyer contacts to get your house sold even before you’re listed.
No matter the reason, listing your home starts with finding the right agent. And that right agent is part of the #1 Real Estate team in Brookland, MG Residential.
The Menkiti Group is an integrated real estate services firm dedicated to transforming lives, careers, and communities through the strategic development, management, and sale of residential and commercial property. Over the past 12 years the Menkiti Group has invested over $145 million in DC’s emerging neighborhoods, developed over 600,000 square feet of residential and commercial property and assisted over 2000 families in purchasing real estate. For more information, please visit www.menkitigroup.com or call (202) 243-7777.