If you consider selling the house there are two main areas you should investigate: the prices of the houses in recent time in your area and the price tendency over the past several years (so that you know whether the selling market is up or down now).

Selecting an Agent

Of course, you can choose to sell your house without an agent. This will give you a chance to save up to 6 per cent from the house price, which real estate brokers usually charge, but it will also mean taking up the responsibility of the house advertising and being available at all the times to show it.

If you decide to work with an agent, take care in choosing one. Ask for recommendations from your friends or search the web for the experienced professionals. Before hiring one, interview him/her. Inquire whether he/she will be the agent who will actually show the house to the perspective buyers. Look at how he/she presents the house, try to imagine yourself on the place of the buyer – would you find the agent’s words convincing? Ask how the agent estimates the potential selling price of your house and compare it with the information you have already gathered about the selling market. If the agent merely flatters you with an inflated price, you should be able to discover it.

Once the right agent is found, a listing agreement should be signed. It will specify the duration of the agent’s service and his/her compensation. You should not agree to more than 3 months of agent’s service with 1 month being enough in the hot market. When negotiating a commission, take into account the selling market tendency and the price of your house (if it is high, the agent might agree to 5 per cent from the house price rather than the usual 6-7 per cent). Moreover, other conditions should also be discussed at this point. For instance, if there is a specific time when you want the house off-limits for walk-throughs, it is a good time to let the broker know.

Although real estate agent can help you review all the bids and contracts connected with the selling process, you may also take advantage of consulting your lawyer. This will mean, however, extra expenses.