Some homeowners decide to sell their homes themselves in order to save the commission charged by a real estate agent. The commission rate may vary, depending on where you live or what agency you choose, but it is generally upwards of five percent. However, handling you own sale means you will be responsible for placing ads, scheduling showings, and navigating the deal down the bumpy road to closing. What’s more, buyers who know you are saving on an agent’s commission may offer less for your home, wiping out the financial incentive to do it all yourself.

• Help with establishing a fair asking price for your home.
• Promoting your home to other agents and listing your property in the multiple listing service (MLS).
• Promoting your home on Realtor.com, a national Internet database.
• Creating, paying for, and placing advertising.
• Scheduling appointments, and being present at all showings.
• Setting-up broker open houses.
• Pre-qualifying buyers to make sure they can obtain a mortgage.
• Helping you with buyer negotiations.

1. Seller's representative (also known as a listing agent or seller's agent). A seller's agent is hired by and represents the seller. All fiduciary duties are owed to the seller. The agency relationship usually is created by a listing contract.
2. Subagent. A subagent owes the same fiduciary duties to the agent's principal as the agent does. Sub agency usually arises when a cooperating sales associate from another brokerage, who is not representing the buyer as a buyer's representative or operating in a non agency relationship, shows property to a buyer. In such a case, the subagent works with the buyer as a customer but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer-customer can expect to be treated honestly by the subagent. It is important that subagents fully explain their duties to buyers.
3. Buyer's representative (also known as a buyer's agent). A real estate licensee who is hired by prospective buyers to represent them in a real estate transaction. The buyer's rep works in the buyer's best interest throughout the transaction and owes fiduciary duties to the buyer. The buyer can pay the licensee directly through a negotiated fee, or the buyer's rep may be paid by the seller or by a commission split with the listing broker.
4. Disclosed dual agent. Dual agency is a relationship in which the brokerage firm represents both the buyer and the seller in the same real estate transaction. Dual agency relationships do not carry with them all of the traditional fiduciary duties to the clients. Instead, dual agents owe limited fiduciary duties. Because of the potential for conflicts of interest in a dual-agency relationship, it's vital that all parties give their informed consent. In many states, this consent must be in writing. Disclosed dual agency, in which both the buyer and the seller are told that the agent is representing both of them is legal in most states.
5. Designated agent (also called, among other things, appointed agency). This is a brokerage practice that allows the managing broker to designate which licensees in the brokerage will act as an agent of the seller and which will act as an agent of the buyer. Designated agency avoids the problem of creating a dual-agency relationship for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties. The broker still has the responsibility of supervising both groups of licensees.
6. Non agency relationship (called, among other things, a transaction broker or facilitator). Some states permit a real estate licensee to have a type of non agency relationship with a consumer. These relationships vary considerably from state to state, both as to the duties owed to the consumer and the name used to describe them. Very generally, the duties owed to the consumer in a non agency relationship are less than the complete, traditional fiduciary duties of an agency relationship.

• Your location
• Economic conditions
• Supply & demand in the local housing market
• Seasonal influences
• Local schools
• Average home prices in the neighborhood
• Your home’s extras including a pool, fireplace, central air, etc.

For buying and selling purposes, appraisals are usually based on market value – and appraisers and agents often factor in current economic conditions, as well as comparing your property to others that recently sold and are currently on the market. Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value. Additionally, a market appraisal for sale if very different from the appraisal you may have for tax purposes. Ask your agent to explain this difference.

Appraised value doesn’t consider special considerations, like the need to sell rapidly.

Lenders usually use either the appraised value of the sale price, whichever is less, to determine the amount of the mortgage they will offer.

• Make sure the closing date is reasonable for you.
• Look for the largest earnest money deposit possible; since it’s forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.
• Make sure you know what you’re leaving with the property – check what the buyer expects to remain with the property.
• Determine what the requested repairs will cost and whether you’re willing to do the work or would rather lower the price by that amount.
• See what other factors the buyer wants met before the contract is final — inspections, selling a home of their own, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they won’t drag on and keep your sale from becoming final.
• Beware of the contract expiration date and see how long you have to make a decision on the offer.

• Make sure the lawn & shrubs are well maintained.
• Repair any cracks in the foundation, driveway, and in walkways.
• Resurface the driveway if necessary.
• Clean the gutters, chimney, and siding.
• Check to make sure window casings, shutters, and siding on doors is in good condition.
• Paint the house if there’s any peeling.
• Make sure garbage and debris are stored properly out of sight.
• Plant flowers and make sure all gardens look neat.

• Clean, clean, clean. Your windows, floors, and bathroom tile should sparkle.
• Clean heating & air conditioning filters.
• Shampoo dirty carpets, repair dripping faucets, and oil squeaky doors.
• Peek in the oven & make sure it’s clean — buyers may use this as a benchmark to see how well you maintain your appliances.
• Remove clutter from the basement, attic, and closets.
• If you house is crowded with too much furniture, consider putting some in storage.
• Paint any rooms that need a fresh coat of paint – use a neutral off-white.
• If you’re a smoker or if you have pets make sure your home doesn’t smell that way. Invest in air fresheners.
• Make your house feel like a home. Put some flowers in a vase on the table, guest towels out in the bathroom, and light a scented candle.
• Have a termite inspection to prove to buyers that the property is not infested.
• Get a pre-sale home inspection so you’ll be able to make repairs before buyers become concerned and cancel a contract — costing everyone money. With this inspection buyers will have a better sense of how much these needed repairs will affect their costs.
• Gather together warranties and guarantees on the furnace, appliances, and other items that will remain with the house.
• Fill out a disclosure form provided by your sales associate. Take the time to be sure that you don’t forget problems, however minor, that might create a liability for you after the sale.

5 Ways to Speed-up Your Sale

• Price it right and set a price at the lower end of your property’s realistic price range if you want it to move quickly.
• Get your house market ready at least two weeks before you begin showing it.
• Be flexible about showings. Yes, it’s disruptive to have to have your house shown on the spur-of-the-moment, but the more often someone can see your home, the sooner you’ll find a seller.
• Be ready for offers, buy discussing with your agent what price and terms you find acceptable and those that are unacceptable. Don’t refuse to drop the price if after 30 days you haven’t had an offer.

• Get at least three written estimates.
• Get references and call to check on the work. If possible, go and look at other projects completed.
• Be sure that the contract states exactly what is to be done and how changes along the way will be handled.
• Make a small down payment, so you won’t lose a lot if the contractor fails to complete the job.
• Be sure the contractor has all the necessary permits, licenses, and insurances.
• Be sure that the contract states when the work will be completed and what recourse you have if it isn’t. Remember that you can cancel a contract within three business days of signing it.
• Ask if the contractor if he will be on the job, and if not, ask to meet the foreman.
• Get the contractor to indemnify you if work does not meet any local building codes or regulations.
• Be sure your contract states that the contractor will clean-up at the end of the job and be responsible for compensating you for any damage.
• Guarantee that materials used meet your specifications.
• Don’t make the final payment until you’re satisfied with the work.

• The sale price
• What is included in the sale price — draperies, carpeting, light fixtures, heating oil, etc.
• The amount of the down payment
• The date of settlement and possession date
• Contingencies to the sale — inspections, required improvements, legal review of the contract by the buyer's or seller's attorney, etc.
• The amount and length of the mortgage loan, interest rate and time limits to secure the loan
• Determining which closing costs are to be paid by the buyer and which by the seller

• Gain from the sale of a prior home on which tax was postponed
• Whether you purchased the home or acquired it by gift or inheritance
• Whether you used your home partly for business or rental
• Costs associated with selling your home
• Home improvements or additions, which may help to offset capital gains
• Your age (If you are 55 years of age or older, you may be eligible for a one-time-only capital gains exclusion of up to $125,000 on the sale of your home.)
• Purchase of another home of equal or greater value within two years prior or subsequent to the sale of your current home
• The sale of your home. In certain cases you can exclude up to $250,000 in gain ($500,000 for married couples filing a joint return) on the sale of property that was your principle residence for at least two years. Generally, you can use this exclusion every two years.

So here are our answers to the questions most asked of us when we first meet with a prospective seller:

1. How many years have you been in the business?
Dutchess Country Realty has been operating since 1989.

2. How long have you been selling homes in this area?
Broker and owner, Brad Rebillard, a native of Amenia, has been selling Real Estate in this area for the past 22 years.

3. How many homes have you sold in the last year?
We pride ourselves on selling the most properties in the local area. For 2008 our office continued to sell homes. Even with the economic downturn, there are houses selling that are priced right.

4. What is your commission rate?
Our commission rate is 5 percent on residential sales and 6 percent on vacant land and commercial properties.

5. How would you market my home if I sign with you?
We would begin by submitting your home to the Columbia County/Northern Dutchess Multiple Listing Service. This way you would have over 80 real estate offices working on the sale of your property. We have a wonderful Internet site that would list your house on-line. In addition, we would discuss strategically advertising your property in such publications as Country Homes Magazine, the New York Times, Poughkeepsie Journal, Millerton News, etc. We would offer you the opportunity to place a sign on your property, discuss the possibilities for holding an open house, and suggest mailing information to your neighbors and friends. We would include your home in our newsletter to let our current and previous contacts know that your home is for sale.

6. Can you give me the names and phone numbers of other families who have used your services?
Yes, upon your request we will gladly supply you with references for our office.

7. Our office Staff:
Brad Rebillard. Licensed Real Estate Broker – N Y. & CT.

Sale Agents:
Carolynn Merwin – Millerton, NY
Theresa Westlake -- Columbia County Specialist
Wayne Euvrard – Amenia, NY
Jeanne Rebillard – Amenia, NY – Rebillard Public Relations. Co.