So you think you want to move...what next?
Why Do You Want to Sell?
Do you want to sell your home in order to move to a different neighborhood,
school district, or to be closer to family or employment opportunities? Perhaps
you're leaving the area. Maybe you want a country setting or want to be closer
to town. Or maybe you need more bedrooms or storage? You may even want to
downsize. As an experienced real estate agent, I counsel my clients to help you
understand not only your underlying reasons for wanting to sell, but the
implications of how selling might impact your life and finances in ways you
might not have anticipated. When appropriate, I will suggest other options for
you to consider that might help you better reach you're financial, lifestyle and
real estate goals.
When Do You Want to Sell?
If it is critical for you to sell quickly, using a top-producing real estate
agent can help you expedite the process compared to selling your own home. Or,
perhaps you have the flexibility of deciding when you want to sell, and there is
no urgency. I can help you understand the current market conditions in the area,
and help you decide on the optimal time to place your home on the market.
What are the Current Market Conditions?
The current real estate market may affect not only how much your home might sell
for, but also how quickly. For example, in a buyers market, there are more homes
for sale than there are buyers, so buyers have more negotiating power. In a
buyers' market, having an agent with excellent negotiating skills on your side
can be instrumental in a successful sale, preserving your sales proceeds as much
as possible. In a sellers' market, there are fewer homes on the market, prices
may be increasing and there may be multiple bids on desirable properties. In
this kind of market, an experienced agent will help you price your home properly
correctly to maximize your exposure and bring you the best market price and
terms available within your time frames.
Select an agent and price:
While it is possible to price and sell your home or real estate without an
agent, this is one of the largest & most important financial decisions you will
ever make.
How To Select The Right Listing Agent:
Good agents strive to continuously improve themselves. Ask about their
credentials and education. Only agents who are members of the
National Association of Realtors
can call themselves a REALTOR®.
Other Important Questions to Ask a Potential Agent:
- Look for a full-time agent.
- Interview a few agents. Are they familiar with your neighborhood? What
do they recommend you do to prepare your home for sale?
- Find an agent who is tech-savvy: today's transactions move at
internet speed.
- Ask how much time the agent will have for you.
- Ask the agent specifically how they will market your property.
- Does the agent return your calls promptly? Time is money when attempting
to sell a home.
- Complex issues will arise over the course of selling your home. You
should feel comfortable that your agent is willing to explain everything to
you until you understand clearly.
- Finally, a good agent will spend more time listening to you and asking
you questions about what you want, rather than talking about themselves.
Pick an agent with whom you feel comfortable.
What Is Your Home Worth?
Has your home appreciated? Do you know what it is worth? Pricing your home
accurately is one of the most critical decisions you will make. On their own,
most people tend to overestimate the value of their home. An overpriced home
will languish on the market, and worse, may even be actively shown by agents
just to make another home look like a better value.
How Are Agents Paid?
Real estate agents don't get paid until you have successfully sold your home;
typically they are paid a percentage of the real estate's final selling price.
The commission is generally split between your listing agent and his brokerage
agency and the agent representing the buyer and their brokerage agency. Keep in
mind that, your listing agent will pay for all the costs of marketing your home.
Why Choose Me?
When I list a home for sale, I immediately set in motion a complex and
tech-savvy marketing plan to broadcast the availability of your home. I notify
my personal sphere of influence, I host Brokers' Open Houses. I will quickly
post your home with photos on my website and the MLS (Multiple Listing Service).
As a technologically sophisticated agent, I use digital photography, virtual
tours, Internet search and optimization technology to maximize your listing's
exposure to as many agents and buyers as possible. I will also market your
property quickly and effectively through proven methods, which may include
signs, fliers, lock box, public open houses, and advertising like postcards and
newspapers.
Prepare to show:
Presenting your home in its best light can add thousands to the market price.
Creating Curb Appeal:
The value of curb appeal is in enticing drive-by buyers to want to come inside
the home. The yard should at least be comparable to the neighborhood; the cost
of a quick clean up by a landscape crew usually pays for itself through a faster
sale near the asking price. Add a splash of color by planting annuals along the
entryway. I will tell you if the exterior of the home needs any improvement.
Should You Make Repairs?
A quick coat of paint and other relatively affordable cosmetic upgrades might
take years off a home's appearance. A light neutral paint color has the broadest
appeal and may also make rooms look larger. Will undertaking significant repairs
prior to putting your home on the market generate the best return, or will
selling your home "As Is" in its present condition? I can help with that
decision. Having a written estimate from a contractor helps alleviate buyers'
fears of the unknown. Allowing the buyer to choose their own contractor relieves
you of liability compared to pre-sale repairs, plus they can choose the
materials. Consult with your agent before spending any money - I will advise you
on how best to allocate your budget.
Cleaning Up Your Property:
Keep your property tidy, clean, well-lit and smelling good. Your agent is able
to see your home as a buyer will and can recommend how to show it in its best
light. Often this requires removing memorabilia that you love but that others
may see as clutter. Let buyers visualize their own belongings in the house.
Turning on lights, even in the day time, makes your house appear more inviting,
cheerful, and even spacious. A professional carpet cleaning can remove stains
and odors that you may not notice but are immediately noticeable and often
offensive to buyers who don't smoke or own pets.
Staging:
A relatively new concept, agents may recommend staging so the home appeals to
the widest audience. Do-it-yourself tips include putting out fresh flowers and
baking fragrant cookies before an open house. Professional stagers may be called
upon to rearrange or even refurnish the house with their own furniture
inventory, particularly applicable for situations like vacant homes.
Disclosures & Inspections?
One of your primary duties as a seller is to make a list of anything that should
be disclosed to buyers. Real estate agents are familiar with the legal
environment surrounding disclosures and will prompt you to develop thorough
disclosure documents that will serve both you and the buyer in creating a sound
and satisfactory transaction. Depending on the condition and age of your home,
and the current real estate market, your agent may recommend you have a termite
and pest inspection done before placing your home on the market. This can help
avoid nasty surprises and broken contracts down the road.
Showing Your Home:
It is important to leave your home while agents are showing it to potential
buyers. I recommend you leave the showing of your home to professionals for
several reasons. Buyers are more comfortable discussing the home's merits and
drawbacks with their agent if you are not there; they might even feel like they
are intruding if you are home. Your agent is experienced in dealing with others
on your behalf and has a fiduciary duty to represent your interests in the best
possible way; let them do the talking. This way, you don't accidentally
volunteer information that your agent could use more strategically during
negotiations.
Accepting an offer:
Having an experienced negotiator on your side can save time and money.
Price Isn't Everything:
Price is not always the deciding factor and the first offer may not be final: My
role is to help you sift through all the terms and conditions of the offer(s)
you receive to help you create a transaction that best suits your needs. When
appropriate, I will help you draft up a counter offer in response to an offer
that comes up short of your needs. Contrary to popular belief, when presented
with multiple offers, the highest price offer may not be the best offer to
accept, after all things are considered.
Dealing Objectively and Fairly:
Selling your home requires remaining objective and always negotiating in good
faith. I will help you negotiate contractual terms that are beneficial to you
and fair to the other party. An experienced agent knows how to handle situations
including multiple offers and multiple counter offers prior to your going into
contract with one buyer, or "ratifying" their offer.
The Deposit:
Once there is a ratified offer, the buyer will deposit an agreed upon good faith
deposit into an escrow account, reflecting their earnest intention to purchase
your property.
Keep it in Writing (counter offers and addendums):
Converting all verbal agreements to a commitment in writing signed by both
parties clarifies everyone's intentions and prevents things from being
ambiguous, forgotten or contradicted later. I will help you draft addendums to
your contract that will help further your objectives.
Escrow, Inspections, and Appraisals:
During this stage of the property selling process, the buyer will learn a lot
more about the property.
What is Escrow?
In a nutshell, escrow begins when your earnest money deposit and purchase offer
is accepted by the seller. Escrow ends when you become the official new owner,
registered in the county records.
Title Company and Escrow Holder:
The title company will research the complete recorded history of the property,
to make sure that the title is free and clear of all encumbrances by the date of
closing and that all new encumbrances are properly added to the title. You will
receive a copy of the "preliminary report", which I can explain to you.
Contingencies:
Most purchase agreements provide the buyer with specific amounts of time to
inspect the property, review the preliminary title report and all disclosure
documents and obtain financing and insurance before they must actually complete
their purchase of the property. At the successful conclusion of each of these
milestones, the buyer will remove that contingency of their purchase and move
one step closer to the close. Or, the buyer may use information they have
learned to request a renegotiation of the terms of the contract (often the
price). This is when an objective, experienced listing agent can really make a
difference by helping you make an informed decision on how to respond to the
buyer.
Inspections:
The buyer has the right to have a wide variety of property inspections to
determine the property's condition and the cost of any impending repairs or
upgrades. Inspections may include roof, termite/pest, chimney/fireplace,
property boundary survey, well, septic, pool/spa, arborist or mold. You are
entitled to a copy of any of their inspection reports.
Appraisal and Loan Approval:
I recommend accepting offers from buyers who have a lender's pre-approval
letter, which is stronger than a pre-qualification letter. Later, the lender
will send an appraiser out to the property, to ensure the property is worth the
sales price.
Buying your next home:
You may have already started dreaming about buying your next home. Now that
your current home is farther along in the sales process, you have a better
chance of getting an offer accepted.
What Do You Want in Your Next Home?
Chances are, living in your current home has given you some pretty clear ideas
about what you want from your next home. My job is to help you prioritize your
needs and set realistic goals about the likelihood of finding and being able to
afford these dreams.
Where Will You Live?
Worried where you will live if your home sells before your next purchase closes?
This is a common concern when juggling a sale with a purchase. I have many ideas
to help you! For example, I can negotiate a rent-back period, where you continue
to rent your first home back from the buyer while I help you find and buy your
new home.
Close of Escrow:
This is it. You've started packing, the movers are coming. Congratulations,
you've sold your house!
Final Walk-Through Inspection:
A few days before the buyer closes on your property, they will visit it one last
time. This final inspection is to ensure that the property's condition meets the
buyer's expectations compared to its condition when they made their offer.
During this final inspection you will have the opportunity to "sign-off" on the
property's condition to document that you have transferred the property in
satisfactory condition.
Canceling Home Services and Utilities:
I can provide you with a list of phone numbers to call local utilities and
services so that they can terminate your service as of the date escrow will
close. For the buyers' convenience, I will suggest they initiate service as of
that same date.
If Things Get Complicated:
Sometimes things don't go according to plan. This is when you really need an
experienced real estate agent. Maybe something in the house broke at the last
moment, or the buyer's loan won't close on schedule; there are a lot of
variables. I've been through this numerous times and have various strategies and
options to help make your transaction as smooth as possible for you.
Close of Escrow:
When your transaction is nearly completed, the title company will provide you
with a "closing statement" - a summary of all the financial details (pro-rations
on property taxes and all the transaction-related costs.) I will go over this
with you to be sure it is accurate.
Feedback:
A good agent knows there is always room for improvement, so I will ask for your
written feedback on my service and performance.
