When you enter a real estate contract, you are committing to a real estate agent to sell your home for a period of time. This is known as the length of the contract. Typical contract length are 6,9, and 12 months long. Depending on the complexity of the project, a time table is engineered to work for both agent and client. A typical home is priced correctly should be on the market for 120 days in Whatcom County. This is four months or so. The contract also dictates a commission or percentage of the sale that goes towards the agent.
The agent does not get the entire commission. He has to give some percentage to the buyer’s agent. Typically this amount is about half. From there, the agent splits his commission with the brokerage house. The seller will put up a sign. He or she may also talk about a marketing plan. This may be paid for by the client or the agent depending on what is entailed. Usually, the client will put more money forth to market their property. The agent usually dedicates their time in implanting the marketing plan.
When is the best time to sell?
The best time to sell is in the Summer. The summer is when schools are closed and families are looking to move.Plus the weather is nice and going from house to house with out the rain is plus for people in Whatcom County.
Historically, this has also been the busy season when inventory comes on the market and prices reach higher levels. For this reason, seller usually wait for this season as well.
It seems to be the unspoken agreement that May through August is the time to list and buy. If your wanting to wait for a deal, and willing to trudge through the rain, then maybe an off season listing would be best for you. Prices tend to be a bit lower and better deals can be made for listings still on the market from the busy season but didn’t sell.
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