Q:  We have made the decision to sell our home but we are still weighing our options of exaclty how to go about it.  A friend suggested we handle the sale ourselves to save the money paid to a realtor in commission fees.  As a realtor, what are your thoughts on this?

A:  Selling your home without the help of a realtor is an option but one that should be examined very carefully before making the decision.  While it is quite possible for a homeowner to sell his own property, once you have considered everything that is involved you may come to the conclusion that the assistance of a realtor is well worth the commission fees.

How to price your home is one of the first steps.  Your goal is to get top dollar for your home without pricing yourself out of the market.  In order to do this you will need to know what the market will bear which will require some information gathering and for this you’ll need a realtor.  A realtor will have access to all of the data available in your area regarding the recent home sales.  Without this information pricing your home can be a guessing game that can cost you time and money.

Once you have your home ready to sell and have determined a price you can begin to promote the sale of your home.  You need to know how to reach your potential buyers through print media, direct mail, internet and other forms of marketing in order to optimize your advertising dollars.  Advertising is another strong argument for hiring a realtor.  A professional realtor can lend you the added benefit of aggresively marketing your home at no additional expense to you.

The next step to conquer will be that of showing your home to prospective buyers.  To keep this task manageable you should encourage potential buyers to make an appointment.  Drop-ins can become difficult to manage and will make if harder to screen for serious qualified buyers.  Again, a realtor can be very helpful in this area.  Knowing that a professional has gathered information on the people touring your home should afford you some additional peace of mind.  In addition your realtor may all ready know people interested in a home like yours. 

The final stages of the sale of your home include negotiation with a serious buyer, a contract for the sale and the final closing.  Once the price has been negotiated a qualified professional should draw up a contract for the sale of your home.  Whether it is an attorney or another professional this person should be able to manage the proceedings through to the closing date and final signing of the documents.  An experienced realtor can assist you through the negotiations and represent you at the closing table. 

When working with an experienced realtor these details are taken care of for you.  From assessing the look and condition of your home to representing your interests at the closing table, the burden of overseeing the particulars falls to your realtor.  If it is the realtor’s commission that you are concerned about, consider the fees you will have to pay to newspapers and magazines to advertise your property, legal fees to draw up contracts and the value of your time overseeing these details and showing your property.  Once put into perspective, a professional realtor not only saves you time and aggravation but can also save you money in the long run.

Q:  We have been thinking of selling our home.  Can you give us some tips to help us get started?

A:  First impressions are important, especially when you’re marketing your home.  You need to look at your home from a different perspective and set the stage for your prospective buyers.

One of the most important aspect of your Realtor’s job is to be honest with you.  This may be an uncomfortable process for both of you in the beginning but an invaluable process if done with candor.  Shed your sensitivities and let your realtor do a thorough job from the start.

Evaluate the curb appeal of your home.  Start at the driveway and note every detail from the cleanliness of the driveway to the condition of the landscaping.  Ask questions such as; does your home need power washing, paint or the windows cleaned?  Is the front door fresh and clean?  Walk around and make a list of everything that needs to be taken care of. 

Once inside your home you will want to look at everything.  Scrutinize the walls and flooring to start.  Does the carpet need to be cleaned?  Could the walls use a fresh coat of paint?  Have those beautiful hardwood floors lost their luster?  If you have answered yes to any of these questions, you should address each issue before you begin to show your home. 

The next job to tackle is clutter.  Look at counter tops, kitchen drawers, closets and pantries.  The general rule of thumb is to get rid of at least half of the clutter.

You may want to rent a storage unit while your home is on the market.  This can help give your home a very tidy appearance to potential buyers.  Keep in mind that your goal is to market your home in such a manner that you will receive top dollar when sold.

Once you’ve tackled the obvious you can begin setting the stage.  Candles or potpourri are recommended to give your home an inviting scent.  Elegant place setting on the dining room table are also a nice touch.  The task at hand is to allow the potential buyer to see and feel what your home has to offer.  If you are unsure of how to accomplish this, there are professionals who can help. 

The benefits from this painstaking process can be tremendous.  If your home is a pleasure to show, real estate agents will be proud to introduce your home to potential buyers.  The confidence inspired by a well maintained home can be seen in the serious offers received from buyers and fewer days on the market.

Q:  We have often toyed with the idea of selling our home but the unanswered question is always, what is it worth?  How do we answer that question?

A:  “How much is my home worth?” is usually one of the first questions a seller asks.  To answer this question you should have a professional help you to determine the appraised or market value of your home.  A certified appraiser can give you a written document detailing the value of your home and on what he or she has based the value.  Your realtor can research the recent sales of similar homes in your area to help you determine a comparable value of your home.

Many different aspects of the home are considered when determining the value.  For example:  size, quality and location will be very important facts to compare to other homes.  Calculating the total square footage of actual living space will determine the size of a home but equally important is how that space has been utilized.  The number of bedrooms and bathrooms, size of the kitchen, the existence of a family room or dining room are all considerations. 

While the size of a home can be estimated by gathering a few facts from the homeowners, a close visual inspection should reveal the quality of the home.  The quality and type of materials used in constructing the home are of great importance.  The more durable, higher quality materials should depreciate less over time. 

The location of the home is also considered.  Some of the criteria used to formulate a home’s value based on location are unique to properties at Lake of the Ozarks.  Information such as lakefront footage, if any; the depth of the water along the lakefront; and the grade of the lot or topography are additional considerations when determining the value of the property.

Like other residential areas, the condition and value of the surrounding properties may also affect what a home is worth.  As well, demographics such as income levels, school ratings and general economic conditions of the area may shape the resulting value. 

Do not be influenced by someone who simply wants to tell you what you want to hear.  A realtor who has done their homework should be able to show you the supporting data.  The same real estate professional can also guide you toward a reputable certified appraiser to obtain the appraised value of your home.