Dear Mrs. Lank: My daughter is planning to sell her house and has met with her Realtor to discuss the asking price. Although she has not yet signed a contract, she plans to stay with this Realtor. However, she would like to get a second opinion from another Realtor. She wonders whether it is ethical to do so. Is this accepted practice? -- N.W.
Answer: Certainly.
It's common for a homeowner to interview several different brokers before a house is listed. I would suggest three different agencies at a minimum. There's nothing unethical about it.
Until she has signed a listing contract, your daughter is under no obligation to anyone. If it makes her feel better, she can inform other agencies upfront that she's already consulted one broker she likes. My guess is that they'll still be happy to send someone over to talk with her.
Even if your daughter eventually lists with the first broker, the additional interviews will be useful. She'll learn a lot by listening to them. Several agents will already be familiar with her property, which may end up a plus for her and for them.
How To Sell
Dear Edith: I'm underwater in my mortgage but still want to sell and get into a nicer home. I've considered trying to do a lot of enhancements to our house but it's generally just an average house. I don't know that all the fix ups will pay off. -- Via e-mail
Answer: In most cases, it's not wise to invest much money in "a lot of enhancements" for a house you're going to sell. Situations differ, and you can always ask the advice of local real estate brokers who know your neighborhood -- and your house -- better than I do. Even in a normal market, though, you're not often likely to recoup your outlay. Instead, just clean your house, get rid of clutter and personal items, polish till it shines. Give the place the doll-up you'd give a used car.
Perhaps this just isn't the right time to move. You may want to give some thought to just remaining where you are for a while.
Five Months From Now
Dear Edith: I'd like to purchase a home but cannot close for about five months yet. Can I put an offer in and ask for a closing date in five months? What is the typical offer-to-close length? -- J.
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