Categorize your needs and desires

What is Important to you as a Seller

Every Seller's needs are different. It is important to make a list of what is important to you and then relay that list to your agent so he or she can make the process of selling your home as easy as possible. Issues important to you may include Buyer's Qualifications, Multiple Listing Service, Broker Commissions, Showing Procedures, Advertising, Open Houses, Inconvenience, Possession by Purchaser, Pricing, Closing Costs, Security, Salability, Financing Options, Negotiations, Timelines

Pricing Your Property

Determining price is one of the most critical steps in preparing your home for sale. A well priced home often sells quickly once it is put on the market and can often result in multiple offers and possible bidding wars, while an over priced property may linger on the market unnecessarily causing costly delays.

When your home is priced right from the outset, you maximize your opportunity of reaching the most qualified buyers and obtaining top dollar.

  • Pricing your home correctly:
    • Can save valuable time negotiating the sale of you property
    • Reduces risk because overpriced home's may eliminate some buyers if it is out of their price range or the pricing out weighs the homes true value
    • Ensures that other agents will show the home promptly to their clients
    • It's good when it comes time to appraise. Your home must appraise at the selling price for the buyer to get financing
    • Makes it competitive in a market where multiple similar properties may exist.
    • Encourages multiple offers and raises your chances of attracting more than one buyer who will compete to bid on your property

Tips to Prepare Your Home for Sale

  • Tidy up the grounds, porches and garage. Keep the lawn trimmed and edged. Make sure that your yard is clean. First impressions count!
  • Your front door adds to that first impression - be sure it is scrubbed or repainted if necessary.
  • Wash windows and clean/dust window coverings.
  • If any decorating or painting is needed (especially in the kitchen), do it now! Twenty dollars worth of paint will make a much larger difference in the sales price.
  • Bathrooms help sell homes. Make this room sparkle.
  • Illumination is like a welcome sign. Replace bulbs and turn on the lights.
  • Wash dishes, make beds, put away clothes and straighten up.
  • Keep pets out of the way during showings – many people are allergic.
  • Leave the showing to the salesperson. The salesperson knows the buyer's requirements and can best emphasize the features of your home. If possible, leave the house during a showing.
  • Don't discuss anything about the sale with a potential customer. Let your agent discuss price, terms, possession and other items concerning the sale. Your agent is qualified to bring negotiations to a favorable conclusion.
  • Never apologize for appearance, it either distracts or accentuates the problem.
  • Pack away valuables; store extra furniture, knick-knacks, guns and medicines.

Look at your home objectively. Pretend you are seeing it for the first time, through a buyer's eyes.

You only have one chance to make that good first impression!

Marketing Your Home

Specific marketing activities to sell your home begin the moment you sign the Listing Agreement. A marketing plan exposes your home to as many potential purchasers as possible - making them aware of the key selling features and benefits of YOUR home.

Possible ways to market your home include:

  • Listing your home on the Multiple Listing Service
  • Internet exposure across the Web on Multiple Websites
  • Installation of a "For Sale" sign (if you desire)
  • A custom property profile flyer
  • Brokers Open Houses –other agents who work this area can stop by and preview your home for their clients
  • Public Open House events – exposing your home to potential buyers
  • Print Advertising by way of Newspapers, Magazines, Postcards and Flyers

The Negotiation Process

  1. Real Estate Purchase Contract from a buyer includes Price, Earnest Money, Deadlines, Contingencies
  2. The Counter- additional addendums to the Initial Contract will be used to respond to the original offer. It may include changing any or all of the details such as Price, Deadlines, Inspections, sellers Disclosures and Contingencies.
  3. The Acceptance
  4. The Due Diligence- waiting period between the accepted offer and closing.
    During this period the following will take place
    • Inspections
    • Surveys
    • Appraisal
    • Loan Denial Deadline
    • Contingencies
    • Earnest Money can become non refundable
  5. During this time the Buyer may come back to the Seller and ask them to repair/ replace items, adjust time frames, or lower price. Each request from the buyer begins a new negotiation process, which your agent will help you to understand.

Finalizing the Deal

  1. Prior to Closing the buyer will do a Final Walk thru inspection.
  2. Closing Fees to Seller should be provided 24 hours prior to closing
    • Title Insurance
    • Tax Pro-Rations
    • Utility Pro-Rations
    • Recording fees
    • Title and Wiring fees
    • Agent commissions
  3. Settlement
    • Recording (24-48 hours) generally
  4. Helping the Buyer
    • Manuals/ Utilities/ Neighbors contact/ To do List

Seller Etiquette

  1. Dealing Directly with buyers
    • Occasionally and unrepresented buyer may approach you directly
      While it may seem helpful to give them a tour or discuss your home with them, this is generally not a good idea. Instead Politely direct them to your agent to schedule tours and to provide them with an information they need regarding your home.
  2. Dealing Directly with other Agents
    • Due to the amount of marketing that goes into selling your home
    • Typically all Marketing materials for your home clearly state your agent as the contact for your home…
  3. Understanding the Buyer
    • During the marketing process your agent will be giving you feedback each time a prospective buyer walks through your home. In reviewing this feedback it is important to remember that just like each seller, buyers all have different likes and dislikes. It is never worth your time to become offended at the feedback you receive about your home. Remember there is only so much you can control.
    Can Control
    • Price
    • Condition of the home
    • Marketing Plan
    Cannot Control
    • Size
    • Location
    • Neighbors
    • Floor Plan/ Amenities
    • In some cases a seller can remodel their home to fit current trends, but never do so without consulting your agent, who will help you determine Cost vs. Value