FAQs

1. How should I prepare my house before selling it?

Initial impressions are a big deal in real estate! Potential buyers walking through a house or touring it online will be looking for ways to pass or negotiate down on the price. Deaton Group Realty will provide staging tips for all areas of your property to ensure your property makes a wonderful, First Impression! In addition to each room looking clean and de-cluttered, we will also help with making sure the systems of your property (HVAC, Electrical, Plumbing, etc.) are in sound & safe condition.

2. Should I order a home inspection?

We always recommend a pre-sale home inspection! This inspection, and any repairs needed following the inspection, will ensure that we obtain the best buyer for your property, at the best price!

3. How long will it take to sell my home?

Once your property goes ‘live’ on the market, it may take anywhere from four to six weeks to sell. However, if the market is “hot” and very active, we could expect your property to be ‘under contract’ with a buyer within a week. On the flip side, if there is a ‘slow down’ in the market, needed repairs, or updates needed, the property could sit on the market for months.

4. What is the selling price of my home?

This is typically the most important question sellers have! The price we obtain depends on many factors and fluctuates based upon the current market. The most common factors are location, neighborhood/surrounding area, features & updates, size of the property including land. We will look at the age and condition of the property. Do major repairs need to be done? If so, that might be needed to help us get a higher price? And again, the market matters. Like everything else, home prices vary depending on supply and demand. Our job at Deaton Group Realty is to inform our clients about these different factors and accurately list their house.

5. Is there a reason my home’s assessed value differs compared to the market value?

A public tax assessor gives the assessed value of a property for tax purposes only. This assessment IS NOT a current, accurate, representation of your property’s market value. This assessment typically occurs yearly for taxation purposes only. We will conduct a thorough market analysis on your property to provide today’s “Most Likely Sales Price” for your property based on recent market activity, trends and our industry knowledge.  This fair market value is an agreed-upon price between a willing buyer and seller

6. Are real estate prices negotiable?

As with most products, almost everything in real estate is negotiable. Typically, the list price and the final sales price differ some. Sometimes lower, sometimes higher. This sales price to list price ratio is a good indicator to gauge on the listing agent’s knowledge of the market, how effective the marketing is, and can provide some insight into the current market itself. The current market’s saturation will determine how much wiggle room there is for negotiation. If you’re on the buyer’s side, expect the house to be able to be purchased for less if there is a lower demand than supply in the market, and vice versa. If you’re on the seller’s side expect the property to sell for less if the demand is low… and vice versa. At Deaton Group Realty, whether you are a buyer or a seller… or both, we will guide you on pricing based upon our market knowledge and current market activity.

7. What is the first step in buying a home?

The first step is to talk with a licensed agent with Deaton Group Realty. We will discuss the entire buying process with you, including providing direction for obtaining your ‘pre-approval’ for a mortgage loan. Without being approved for a mortgage it will be quite difficult, if not impossible, to purchase a new home. We have many lender partners to help you, regardless of your personal financial situation, and will guide you to a reputable mortgage corporation and advisor that we trust.

8. Should I sell my current property before buying a new one?

Well… maybe! The final answer depends on your current funds, your financial ability to obtain another loan, the market activity and the ability to find short-term housing. If a client needs more equity to purchase a new home or meet a mortgage plan, then it is best to sell one’s current home before purchasing their next one. That being said, they will most likely need temporary housing at a friend or relatives, or by arranging a short-term rental elsewhere. Deaton Group Realty will be able to guide you on the best scenario after meeting with you and discussing the process.

9. Should I get a home inspection?

Definitely! We always recommend obtaining a home inspection from a state licensed, third part home inspector. A home inspection is a vital step when purchasing a property. A professional inspector has a keen eye for how well the house has been taken care of and noting needed repairs. The inspector can comment on structural and cosmetic issues, along with any local code issues. A home inspection is for your protection!

10. Should I do a final walk-through?

Absolutely! A final walk-through is not required but highly recommended. Final walk-throughs give you one last look at the property, prior to closing, to make sure nothing has changed since the initial inspection or previous visits. Also, if repairs were requested as part of the sale, this follow-up visit ensures all repairs are done according to the agreement and contract.

11. How does earnest money work?

Earnest money is similar to a deposit when renting a place. It is made in good faith to demonstrate to the seller that the buyer’s offer is legitimate. It has been a valuable step in the purchase process for many years, but it has lost some of its strength recently due to the changes in real estate law. Your Deaton Group Realty agent will discuss this with you to determine if it is a valuable step in your purchase process.

12. How many houses should I view before purchasing one?

This depends on the market, the buyer’s needs and the inventory level. With today’s online abilities, all aspects of a property can be viewed without ever stepping foot on the property. It is best to use the online resources provided by Deaton Group Realty to view houses online initially. We also recommend for the buyer to drive by the homes, first, in order to check out the exterior of the home, and the surrounding neighborhood. After narrowing the list down, we can then schedule in-person showings for those properties of greatest interest. Typically, it is best to go see no more than 5-6 houses at a time.

13. What happens if I decide to back out of buying a house?

We will discuss all the terms of the purchase contract, including those that provide protection for our buyers in case there is a need to terminate the purchase agreement.  Deaton Group Realty is not a law firm, and our agents are not attorneys, but we have knowledge of the state real estate contracts, terms, and process. We are your representatives, and we will guide you, but if you have any legal questions, it is best to discuss with a licensed attorney. Remember that when you enter into a purchase agreement, it is a legally binding contract.

14. What is a mortgage and how does it work?

A mortgage is a loan to finance a property. Most buyers do not have the necessary “cash” on hand to buy a home, without obtaining a mortgage. Thus, a mortgage serves as a secure loan that comes with an interest rate and gets paid off over 15 or 30 years, typically.

15. What is the process of using a title company?

A title company is a neutral third party used, in Arkansas, to handle the exchange of money, property transaction, title insurance and related documents. This escrow agent transfers the money and documents involved in the real estate transaction until all terms and conditions of the sale are satisfied. 

16. Are you familiar with this neighborhood?

Cities, communities and neighborhoods differ greatly in terms of types & ages of homes, amenities nearby, and access to popular highways, roads and schools. We have an extensive knowledge throughout Central Arkansas. Your Deaton Group Realty representative will be able to provide information on any area you are interested in.

17. Have you sold houses in this price range?

Our agents know the local, and national, real estate markets well. Over the agency’s many years, Deaton Group Realty has experience and knowledge of real estate in all price ranges, throughout Central Arkansas. Regardless of the price range, or location, we are able to provide the information, and guidance, you need.

18. Are you a part-time or full-time agent?

We are a full time, full service, agency with extensive knowledge of our local real estate market, and large library of resources to assist our clients.

19. Can I see your real estate license?

Sure. All of our agents are licensed with the State of Arkansas, and can provide proof of our licensing at any time.

20. Do I work with you directly or your team?

Building trust is key for a successful, and enjoyable, relationship. Your Deaton Group Realty representative will be your partner, and direct point of contact, during the entire real estate transaction. Some of our agents work as teams and they will communicate the team relationship with you, clearly, at the initial consultation.

21. How many sellers do you currently represent?

Some clients are concerned that with too many clients, we might not have the time to meet their personal needs. Other clients are concerned that with too few clients, we don’t have the necessary experience. We want to assure all our clients that we will provide the maximum attention to your needs, regardless of the number of clients we are currently working with. Your satisfaction, and protection, is always our highest priority.

22. What are your listings’ average days on the market?

The average Days on Market for a listing is a component of an agent’s Key Performance Indicators.  At the heart of this indicator is what sellers should expect for how long it will take to sell their property.  This timeline is based on many factors… the condition of the property, the location, the market, the size, number of bedrooms, updates, etc.  Deaton Group Realty will take all of the factors into consideration and provide you with a fair expectation of Most Likely Sales Price and timeline.

23. What is your list price-to-sales price ratio?

The list price-to-sales price ratio is the difference between what the house was listed at and actually sold for. A strong list-to-price ratio often depends on the market and location, but you ideally want to be above 90%. Unless the market is abnormally active, we do not want to be well over a 100% ratio — being this high over usually signifies an underpricing of homes to pad the ratio.

24. What is the best way to contact you?

As your REALTOR, communication is essential to our relationship and the real estate process, and it is a high priority for Deaton Group Realty. Our clients deserve the absolute best service. With today’s communication tools, we will be ‘in touch’ throughout the process, in many manners. We implement communication plans with each client based upon their specific needs. We have the tools and systems in place to support our clients and promptly answer any of their questions or concerns, plus provide proactive communications during the entire real estate transaction.