Selling a Home | Overview of the Process
A Real Estate transaction is the contractual process of selling and buying property, such that the ownership passes. As your agent, I will always consult with you in depth, but my role is to undertake actions on your behalf just as if I were the seller of the property. Essentially, my representation of you, the seller, and your interests are paramount. My hope is that as we work together, I will be able to make your role in the transaction very simple and straightforward: I will take on the complex parts on your behalf and facilitate the sale of your property at optimal value with minimal aggravation.
The following has been created as an overview of how we will be marketing your property. It will briefly explain many of the tools and methods my team will use to sell your house.
One of the most important factors in the marketing of your property is its pricing. One of my main goals is to sell your property in a timely manner and still at maximum value. Since we are dealing in an active marketplace, houses that are overpriced will sit on the market, or worse, may not go to settlement due to issues with appraisal. I am always cognizant of the hidden “carrying costs” of an unsold property, which is why pricing the property appropriately is such an important issue. Later in this packet you will find the ways in which a price for a particular property can be dictated by comparable properties that have sold that are in similar to the one we will be selling. I always encourage sellers to be realistic and these elements are in the forefront of my mind as I suggest an asking (listing) price to you.
Selling your property at maximum value requires that it be in tip top condition. Put yourself in the mind of a potential buyer and you will immediately see that the “curb appeal” of a house is prime. Thus, money and sweat equity that you put into landscaping, painting, siding, general maintenance and upkeep, is money well spent.
Showing Your Home
Once the prospective buyers enter your property, further impressions are immediate and telling. I will be coaching you on improvements you can do to favorably impress buyers and their agents. I will gladly refer reliable improvement pros who will be at your side for any necessary fix-ups. Please bear in mind that I have sold literally thousands of homes since I began my profession in the late 1970’s, so hopefully my advice is tempered by this experience to give you the maximum outcome with minimum expenditure for improvements.
Once your property is listed, it will in all probability be placed on a “lock box” for realtors to bring their clients in to view your property. In addition, “open houses” will usually be scheduled during the first weekend the property is put on the market. Normally, it is best that you are not in the property while it is being shown.
Offers and Negotiation
After the property has begun to be shown, it will probably not be too long before one or more prospective buyers will make an offer. Usually such buyers will come with their own “buyers agent” who will represent them in the negotiation. Their initial offer is the first step, which I will present to you with my objective advice. Sometimes the offers are higher than list price, sometimes lower; some may have contingencies on which I will also advise you. These negotiations are often quite delicate and I take this aspect of my role with great care, again, in order to optimize your value as well as the ease and reliability of the transaction for you.
The offer that is accepted will then become a ratified contract once all the terms and price are agreed to by the parties involved. At this point a buyer normally will have between five and seven days to make a home inspection. A professional, licensed inspector will look at everything from the roof to the basement, inside and out, to assure the buyer that there are no hidden flaws in the property. 99% of the time they turn up something, often trivial, which will be your responsibility to repair prior to settlement. This is rarely a deal-breaker, but I mention it now so that it will not be a surprise to you later.
The final step in selling your property is about a month or so away, depending on when you have chosen your settlement to be. And now, as you embark on one of the most important financial transactions of your life, I would like to assure you that as your listing agent, I will do all that is in my power to sell your house for the maximum value in the shortest amount of time possible.