Choosing an Agent

Buying and selling a home is one of the most important decisions of your life. The first thing to do is to find a REALTOR® you can trust.

Icon Realty agents are all full time, experienced agents that have made a decision to align themselves with a growing, innovative real estate company. Our family of agents are well educated and well versed in the workings of a real estate transaction. Icon agents have the technical expertise to market and sell your home to today’s ever evolving consumer. Icon agents will position your home
to give it a strong “online” presence to maximize the exposure to not only local buyers, but to buyers throughout the country and around the world.

Before working with an Icon agent, our clients have a clear understanding of their agent’s duties and responsibilities of whom they represent. Your Icon agent’s duty is to ensure that your home sells quickly, easily, and at a suitable price.

If you choose to have an Icon agent represent you, you should enter into a written contract that clearly establishes the obligation of both parties.

Icon Realty has helped hundreds of clients, including friends and relatives, who have listed and sold their homes through our company.

Next: Setting a price

When setting a price, the important thing is to be realistic. If the price is too high, you may not find a buyer. Too low, and you cheat yourself out of money.

Appraisal
Regardless of what you originally paid for your home and the cost of improvements you have made, the only price that matters is what the market will bear at the time you decide to sell. You may consider hiring an independent real estate appraiser with specialized training and experience. Don’t rely on assessed valuations made for tax purposes. Such valuations may not be reliable indicators of value, as they are usually made using mass appraisal techniques.

Comparative market analysis
Whether or not you get an appraisal, your Icon agent can develop a comparative market analysis. This analysis will describe homes in your area that have recently withdrawn from the market and may compare specific features of your home to others–the value of a corner lot, a city view, or an extra bedroom, for example. The overall analysis should include all factors that can affect the value of your home, including builder competition, market fluctuations caused by the opening of a new school or business, as well as long-term trends.

Net proceeds
Once you’ve decided on a price range, your Icon agent can help you calculate an estimated amount you might net from the sale. If you have owned your home for several years, you may have built up sizable equity. Equity is the difference between the value of your home and the balance on your mortgage. After subtracting what you owe on your mortgage, and costs you will incur in closing. These may include title fees, taxes, a penalty for prepaying your mortgage, brokerage commission, attorney fees, and charges for preparing and recording documents. Finally, ask your tax adviser or attorney about the tax implications of your proposed sale.

Next: Signing a listing agreement

After choosing your Icon agent, you will most likely sign a listing agreement–a contract in which you agree to allow an Icon agent to sell your home during a given period and pay Icon Realty a fee when your home sells.

Icon Realty will generally follow the company’s policy regarding compensation. We do take every situation on a case by case basis, but the amount of the fee will be spelled out in the listing agreement. Your Icon agent will make sure you understand how the fee will be paid before signing.

Exclusive listing
Your Icon agent will ask for an exclusive right-to-sell listing. This means that you will owe the broker a commission regardless of who finds a buyer during the listing period. In other words, if you decide to sell the house to your cousin, your broker still gets a commission. In an exclusive listing, the broker is usually motivated to work harder to sell your home.

It’s possible that a REALTOR® from another company will find a buyer for your home. In that case, your broker is the listing broker, and the second agent is the cooperating broker. Many times the listing broker will agree to pay the cooperating broker a fee from the amount you pay the listing broker. Your listing broker cooperates with other brokers who procure buyers interested in your property and offers to compensate the other brokers for procuring a buyer. Cooperating and compensating other brokers is discussed in the listing agreement you sign with Icon Realty.

Length of listing
The listing agreement will specify how long you agree to list your house with our company. You want a period that’s long enough to motivate your Icon agent to advertise your home and respond to buyers, yet short enough to allow you to change to a different company in the unlikely event you become unhappy with the REALTOR®’s service. Our company policy is to ask for a six month agreement. Our studies have found that this gives our agents ample time to implement all of the marketing necessary and adjust for market fluctuations during the listing term.

Remember that the listing agreement is a contract. You should get a copy for your records. Your Icon agent is bound to the terms just as you are. You can expect your Icon agent to keep appropriate information confidential and effectively market your property.

Next: Marketing your property

Preparing your home
In preparing your home for viewing by prospective buyers, remember that people buy on emotions. Your home has to feel right, or buyers will look elsewhere. Ask your Icon agent and some honest friends to look at your home objectively and suggest ways to make your home more inviting and sellable. Consider both the exterior and interior. Since you will be appealing to buyers’ feelings, you need to pay attention to detail. An extra $50 you spend on red geraniums or new bath towels might mean a significant increase in a buyer’s offer.

Clean your home thoroughly and make minor repairs such as tightening towel racks and gluing wallpaper edges. For larger repairs, consult your Icon agent as to whether repairing the item will generate a good return on the sale. Repainting the woodwork may be worth it, but replacing the carpet may not. Hire a professional inspector to examine your house for structural and mechanical defects. Get an inspection early, and you can avoid surprises.

Honesty and candor
If your home has a major problem you don’t intend to correct, be candid about it. Don’t paint over the water marks on the ceiling to hide a leaky roof. Buyers will find out about the problems anyway, especially if they are smart shoppers and hire a professional to inspect your home. In an age when lawsuits are as common as family sit-down dinners, it pays to be open about everything.

You should consider including a one-year residential service contract with the sale of your home. This buyer perk is a common practice and helps ease concerns. Typically, after the first year, the buyer has the option of renewing the coverage at his or her expense. A residential service contract is simply an agreement with a company to repair certain items on the property if such items fail to function or are in need of repair (for example, air conditioning unit, heating equipment, plumbing system, etc.).

Attracting and screening buyers
As part of the overall marketing strategy, your agent may arrange a tour of your home for local REALTORS® and perhaps schedule an open house for the public. Your Icon agent may also run ads in local newspapers, Web sites, and other publications tailored specifically for the type of home you are selling. As responses come in, your Icon agent will screen out sightseers and half-hearted inquirers and make appointments with the serious prospects.

When the showings begin, keep your home clean and ready. Your Icon agent will try to give you advance warning before showing your home but be prepared anyway. If people drop by and are not with a REALTOR®, it’s best not to show them your home. Ask for their names and phone numbers and refer them to your Icon agent.

Purposeful absence
When a REALTOR® comes to show your home, it’s best if you are not there. Many buyers feel like intruders when the owner is present; they tend to hurry away. Letting the buyers walk through your property at their own pace will help put them at ease. They will feel free to look around and ask questions. If you must be there, let the REALTOR® handle the showing. Sit quietly and be courteous, but avoid engaging the buyer in conversation. The REALTOR® needs the buyer’s complete attention to show your home properly.

Fair housing
REALTORS® are required by law to make your property available to all persons without regard to race, color, religion, national origin, sex, disability, or familial status. Your Icon agent will not discuss any matter that may potentially discriminate against any person.

Next: The offer

When a buyer makes an offer on your home, your Icon agent will contact you promptly. Your agent will scrutinize the document, review it with you carefully, and answer your questions. The written offer lays out all the terms of the proposed transaction–the price the buyer is willing to pay and the financing terms–and becomes a binding contract if you sign it.

The offer may be contingent on the buyer selling a home first or obtaining an inspection. Ask your agent how these terms affect you and whether the offer is in line with the market. The offer describes the property, states who pays for which closing costs, and specifies dates of closing and possession. Along with making the offer, the buyer may place some earnest money with the escrow agent at a title company as a sign of good faith. The earnest money will be kept in an escrow account and applied to the buyer’s down payment or closing costs when the sale closes.

Your options
In reviewing the offer, you have three options: accept, reject, or make a counteroffer. A counteroffer is a rejection of a buyer’s offer with a simultaneous offer from you to the buyer. Carefully review the figures compiled earlier to determine your net proceeds–closing costs may be quite different from earlier calculations. Discuss the possibilities with your Icon agent, your attorney, and a tax adviser.

Seller’s disclosure
In most residential sales, Texas law requires that the seller deliver a seller’s disclosure notice to the buyer on or before the effective date of purchase. This document provides important information about the seller’s knowledge of the condition of the property. Complete the notice to the best of your knowledge and belief. Your Icon agent will ask that you complete the notice at the time the listing is first taken. Copies of the completed notice will be made available to those looking at your property.

Lead-based paint disclosure
If your property was built before 1978, federal law requires that before a buyer is obligated under a contract to buy the property, the seller shall: 1) provide the buyer with a lead hazard information pamphlet (as prescribed by EPA); 2) disclose the presence of any known lead-based paint or hazard; 3) provide the buyer with a lead hazard evaluation report or records available to the seller; and 4) permit the buyer to conduct a risk assessment or inspection for the presence of lead-based paint or hazards. A contract for the sale of property built before 1978 must contain a statutorily prescribed Lead Warning Statement to the buyer. Your Icon agent will provide you with the forms necessary to comply with the law and will suggest procedures to follow in order to comply.

Accepting the offer
Once you and the buyer agree on terms and sign the contract, the buyer will generally have to find a lender and apply for a loan. Your Icon agent may monitor the loan process, which could last several weeks. During this time, your agent will also be busy coordinating other arrangements to prepare for the final sale.

Title search
As part of the process, the title company may order a survey of your property and research the title to your home, making sure the chain of title is clear. Clearing the title may require paying off liens–that is, any monetary claims against your property. Examples are: mechanic’s liens, unpaid state and federal tax liens, court judgments, and probate considerations (if a co-owner has died). The product of the title search can be in the form of title insurance, abstract of title, or certificate of title, depending on what is commonly used in your area.

Inspection and repairs
If the buyer requires it, your Icon agent can coordinate an inspection of your home. A buyer may hire an inspector to review many items in the property such as the structural components, mechanical items, electrical systems, and plumbing systems. The inspector will report to the buyer the items that the inspector finds to be in need of repair. Most likely, the buyer will provide a copy of the inspection report to you and may ask you to complete certain repairs. Don’t be surprised if the inspection notes some items in need of repair. An inspector is trained to see items and defects that are not obvious to you and your agent. No matter how new or well-maintained a home is, an inspector may find some items in need of repair.

Next: Closing the deal

The days leading up to closing can be some of the most stressful for both the buyer and the seller. As the seller, you are hoping that everything goes as expected without any unwelcome surprises. Closing is the final step that transfers ownership of the house, and it helps to be prepared.

If you’re selling your home, consider creating a checklist of what you’ll need on closing day.

• Keys, padlock combinations and garage-door openers
• Codes to security system (if applicable)
• Owner’s manuals for all appliances
• Checkbook for closing costs or other expenses paid by seller (as agreed to as part of the buyer’s final offer)

An expert in the industry, your Icon agent, will walk you through the closing process, answering any questions that may arise and ensuring the selling process goes smoothly.

The days of sifting through a newspaper for a new home are on their way out. 86% of home buyers started using the Internet as part of their process BEFORE they started looking for a specific home, the other 14% did after they started looking, but BEFORE they contacted a real estate agent that means that 100% of buyers surveyed started looking at homes first, agents second. What does this mean to you, the consumer looking to sell your home?

Now more than ever it’s important to align yourself with a tech savvy company that will give your home maximum internet exposure. Example of different websites your home will be featured includes but isn’t limited to: a prominent placing on Realtor.com, HAR, MLS, Obeo, Craigslist, Postlets, Realtour.com, Backpage.com, Active Rain, ML Podcasting, Google Base, Hot Pads, Kijiji, Local.com, Oodle, Lycos, Trulia, Vast, and Zillow. The internet marketing industry is forever evolving. We at Icon Realty stay on top of these changes because we are just as motivated to sell your home as quickly as possible, and for the most money. Icon Realty utilizes several internet tools to quickly capture possible home buyer leads, and positions your home to give it the best chance to sell your home quickly, and for the most money possible. Icon Realty agents, when given the opportunity, will showcase these different tools we use during our listing presentation.

You may ask yourself, why should I choose Icon Realty over some of the better known brokerages to sell my home? Well the answer is simple; internet savvy, experienced agents, and a dedication to providing unparalleled service to our clients while maintaining a lifelong relationship, in order to grow together over time. Most Houston based real estate companies and most consumers with computer access can research the same basic information pool about our real estate market. Icon Realty knows that service from first contact through closing and beyond, and making ourselves available to our clients 24/7 is what our clients want. You can’t get that from just simple information sharing. Icon agents pride themselves on making themselves available to their clients via all different types of communication. Whether it’s a conversation that requires a cup of coffee together, a phone call, or just a simple email or text message, you can rest assure that you will have your questions and concerns answered in a timely manner.

In a time of slumping sales and the evolution of internet marketing, the cream is rising to the top. Icon Realty is well ingrained in this business, and local community organizations, and will be here for the long haul. Contact an Icon agent for your free home valuation, and let’s sit down together and figure out a comprehensive plan to sell your home quickly without unneeded stress.

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