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Selling a Home in Los Angeles Part 1: Hire a Realtor®

Posted by janepeters on February 11, 2016
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Are you selling a home in Los Angeles? Now is the time to hire a Los Angeles Realtor®.

You may be tempted to put a sign on your lawn and handle the transaction yourself, but that would not be wise.  You think you are going to save money by not having to pay commission fees, but you could end up paying more.  Why?Selling a home in Los Angeles

  • The first step in selling your home is to understand the market price. Your real estate agent will help you get to the right figure by going over recent sales of comparable properties in the same neighborhood. The buyer’s agent is going to look at the same comps, so the price needs to be competitive. Homes currently on the market do not qualify since they may not sell for the listed amount. Although you may look good compared to over-priced listings.
  • The buyer knows that you are saving money and will negotiate accordingly. They will factor in the money you are saving by not paying commission and offer accordingly. Also that buyer may bring their own agent who is experienced at negotiating. It may put you are a disadvantage.
  • When it comes to negotiating you may not be able to keep your emotions at bay, and negotiating is a large part of the process. You are not just going to have a back and forth over the purchase price, but the inspections may present more hurdles to climb over. Who is going to be advising you on the best course of action?
  • Are you going to want to handle all the showings that come with listing your home? Buyers will want to see your home at the drop of a hat, and it is not a good idea for the seller to be present when they come by. Open houses are a good way to showcase your home. Having the seller there can make buyers uncomfortable.
  • Do you know what is involved in the long escrow process. You as a seller have certain contingencies which must be met and you are going to have to stay on top of the buyer to meet theirs. The Purchase Contract favors the buyer, so having someone in your corner making sure nothing falls through the cracks is a good idea.
  • Selling a home can be a stressful process. Using the services of a real estate agent can help relieve some of if and make your life easier.

How to choose a Realtor®.

There is a lot more involved than just listing your home on the MLS and putting a sign on the property.

  • The property should be properly marketed. A home that is well presented with a well-written and comprehensive description, together with good photos, will go a long way to attracting buyers.
  • An internet savvy agent is going to get you the most exposure. They will have a web presence themselves and understand the best sites to showcase your home.
  • It is advisable to hold open houses until the home is in escrow. Who will be holding those open houses?  Will it be the agent themselves or someone else?  I would want to know how involved the agent is going to be in the process. Putting an assistant on the open house is a way for them to pick up buyer clients. Make sure selling your home is top priority.
  • If you are an absentee owner is a lockbox going to be put on the home or is the agent going to show it?  In Los Angeles, until recently, lockboxes were rarely if ever used. Now, on an empty property they are becoming more common.  If you are not comfortable having your home on a lockbox you need to make that clear up front.
  • How available is your agent going to be for showing requests?  You would be surprised at how many agents limit showings, or are difficult to reach. If you are in a hurry to sell, then time is of the essence, and a buyer who cannot see one property easily will move on to the next one.
  • How personable and approachable is your agent? This is still a people business and agents like to do business with someone with whom they feel comfortable, as I would imagine do sellers.

Bottom line you and your Realtor® will be working as a team for a couple of months or longer. This needs to be a good relationship.  Choose carefully.

Selling a Home in Los Angeles:  The Series:

Step 1:  Hire a Los Angeles Realtor®

Step 2:  Get ready to list

Step 3:  Handle the offer(s)

Step 4:  The escrow process

Step 5:  Prepare to move

Need Help? Have questions? Fill out the CONTACT FORM or call Jane at 310-351-9208

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