Hatteras Island Real Estate: Services for sellers in every
We seem to spend an awful lot of time and effort talking about where
the real estate market has been, where it is headed, and what a great
time it is to be a buyer. But, the fact of the matter is that whether
you are a buyer or a seller, this is the only market that we have, so
we have to do the best we can with the conditions that exist.
Interestingly, there are some constants that don’t change regardless of
what the market is doing at any point in the real estate cycle. One of
these reliable resources is the service that our local real estate
brokers provide to owners who are considering the sale of their
The following is a summary of some of the valuable types of assistance
that Realtors can offer the owners of cottages and unimproved lots on
Annual surveys by the National Association of Realtors consistently
show that the agent services that sellers consider to be important are
help in determining a competitive asking price for their properties,
assistance in marketing their properties to find a buyer, support in
negotiating the best price and terms in the sales contract, and
guidance in understanding and completing the maze of paperwork
associated with a sales transaction.
Real estate agents are aware of market trends. They can analyze and
explain current statistics in the context of what the information means
for the specific property that the owner is considering selling.
Typically, a probable sale price analysis will take into account where
we are in the market cycle, the selling prices of comparable
properties, a review of properties that are under contract to be sold,
and an evaluation of those properties that would represent the most
direct competition for the home or lot being considered.
Depending upon the competitiveness of the seller’s asking price and the
overall level of activity in the market, there is often a lag between
the time a property is listed for sale and the receipt of an offer that
ultimately matures into a contract. During this time, the agent will
actively promote the owner’s property through the Internet, social
media, print advertising, and signage.
One of the most effective forms of exposure is the Multiple Listing
Service (MLS). Through the MLS, a detailed description of the property
is distributed to over 700 members of the Outer Banks Association of
Realtors. Increasingly, through the reach of technology, prospective
buyers can independently research the MLS based on their own personal
criteria. It is estimated that almost 90 percent of buyers use the
Internet at some point in their search for property.
Once an offer to purchase is received on a property that is being
offered for sale, the negotiation process between the seller and the
buyer begins. At this point, the agent representing the
will update the market results and help the seller to achieve the best
possible price under present market conditions. The agent
also review the other terms and conditions of the offer for
reasonableness, usual and customary practices, and any unusual
provisions or contingencies. The seller’s agent will then walk the
owner through the process of establishing a contract, monitoring
pre-settlement activities, and coordinating with the closing attorney.
Throughout the listing process, especially in the beginning, agents
will offer suggestions for actions that the owner might take to make
the presentation of a home more appealing to prospective buyers, and
they will frequently obtain estimates for recommended upgrades to the
There are many dimensions to a real estate transaction. Some of these
aspects are beyond the expertise of the broker. Examples
matters of law, taxation, financing, surveying, pest inspections, and
engineering. When an issue arises that requires assistance that is
outside a Realtor’s field of knowledge, the agent will provide access
to a trusted network of service providers. If the seller is looking for
property in another area, their real estate agent will often be able to
refer them to a Realtor in the new location.
Since 2008, foreclosure proceedings have been filed on over 500 homes
and lots on Hatteras Island. When these unfortunate
arise, agents can objectively discuss available options with property
owners who find themselves in financially distressed circumstances.
In short, our local real estate agents are here to help sellers from
the starting point of understanding market conditions to the final
closing of the transaction.
If you or someone you know is considering the sale of a cottage or
unimproved lot, contact one of our Hatteras Island real estate
brokers. They are experienced, well-trained, and eager to
you achieve your real estate goals.
Hranicka is an associate broker with Outer Beaches Realty. Questions,
comments, or suggestions for future articles may be sent to Tom
Hranicka at P.O. Box 237, Avon, NC 27915, or e-mail to [email protected]
Tom & Louise Hranicka. All rights reserved.