Home Selling 101
The Process at a Glance
1. Decide to Sell
Once the decision has been made to sell, you need to understand your reasons for selling. This many sound obvious, but sometimes people don't take the time to understand their motivations to sell. Are you selling because of a job relocation? a divorce? to move to a larger home? a smaller home? to save money? Once you understand your own motivations, you'll be more effective when working with your Realtor, setting the price, and negotiating.
2. Select a Realtor
Selecting the right Realtor is important since this person (hopefully me) will be your business partner for a while. Some people choose a Realtor based on how high a price the Realtor thinks the seller's home is worth. This is the WRONG way to select a Realtor. Realtors don't determine home prices; the real estate MARKET determines a home's value. The market is the market and no Realtor can get you more for your house than the market will bear - no matter what he or she promises you. If a Realtor (including me) tells you they can get you more for your home than the market indicates, kick him/her out of your home. They may tell you a high price just to get your listing and then your home sits on the market and doesn't sell. You should select a Realtor based on the following criteria:
- their marketing plan
- their references and testimonials
- if you like him or her (you have to work with this person - it's important that you both get along)
- your gut feel (our built-in mechanism that helps in any business setting)
By the way, I have a powerful, results-oriented marketing system, my past clients have been thrilled with my service and results, I'm a likeable guy, and I hope your gut tells you to hire me. I promise you won't regret it. And of course, you don't pay me a dime unless I sell your home.
3. Complete the Paperwork and Price Your Home
I'll handle all the paperwork, from beginning to end. We'll have some preliminary paperwork to complete to get your home on the market. We'll need to determine the price to ask for your home. I'll prepare a comprehensive Property Value Review, which I provide free to sellers. This will tell us what the market is doing and how much your home may sell for. Unfortunately, it doesn't matter what you or I think your home is worth - the only thing that matters is what the market says. The Property Value Review will tell us that. Of course, you have the final say on the list price of your home.
4. Market Your Home
While it is my job to market your home, you play a key role in ensuring the home is in marketable condition at all times. In order for your home to sell quickly and for the most money, it needs to be attractive and desirable to potential buyers. Your home is a product that must be sold. That product must be made and kept attractive. It is important that you, as the seller, prepare your home to sell. Of course, I will advise you on how best to do this. You should do your best to create a "model home." The exterior should be inviting as people drive up - we call this "curb appeal." Often, a potential buyer will eliminate a home from their list just because of the curb appeal, or lack thereof. The interior should be clean and free of clutter. The kitchen and bathrooms are especially important as buyers pay particular attention to these rooms. Children's rooms, too, should be kept clean and as clutter-free as possible. Once the home is made marketable and showable, we move forward to expose it to the marketplace. By implementing my Sellers Edge Marketing System and ensuring we've priced your home right, I'll have your home sold in no time.
5. Negotiate and Accept the Best Offer
If all goes well, an acceptable offer (maybe more) will come rolling in. We will work very closely reviewing and negotiating offers. Several things will need to be considered when reviewing offers:
- price offered
- closing date
- terms
- closing costs
- inspections and repairs
Since it's your home and your money, you have the final say. I will be there to advise and support you based on my experience. If multiple offers are received, which often happens when a house is priced well, then you will be in the driver's seat and we should be able to negotiate a very nice deal for you.
6. Disclosures, Inspections, Escrow, etc.
Once you accept an offer, the escrow period begins... and so does the "fun". Disclosures must be made by you to the buyer (don't worry, I'll help with all of that), and the buyer has the right to perform various inspections. A general home inspection will likely be conducted and should be expected. Others are possible, but not as common. Once the inspection(s) are complete, the buyer may ask that certain repairs be done. You may or may not elect to do those repairs, but the buyer has the right, then, to cancel the contract. We'll discuss all the options if and when those issues arise. During this time, too, the title company handles all the title-related issues, works with the buyer's lender, and coordinates with the buyer’s agent and me. The lender works closely with the buyer to get the loan approved and funded. The buyer's agent and I coordinate all the paperwork (and there's a lot) that needs to be completed, reviewed, signed, and distributed to the title company, the lender, the real estate brokers, the agents, the buyer, and to you.
7. Closing! You Get the Cash!
You and the buyer were able to agree on all necessary terms, the buyer's agent and I worked together to ensure all went well, the lender funded the loan, the title company was a great go-between, the county recorded the deed, your loan (if you had one) is paid off, and you receive your check of the proceeds of the sale. Oh, happy day! And, of course, you move out and onto your destination, either locally or out of the area. If you move locally, hopefully I will help you buy a home, too.
8. Refer Us to Your Friends and Family
If I have provided you the excellent service and support that I promise, then I hope you will think of me when someone you know is looking to buy or sell real estate. I pride myself on providing such good service, that my clients are happy to refer me to others. I hope you will.
9. Call Us Again
Whether you are looking to buy or sell again down the road, 10 months or 10 years, or if you just have a real estate question, please don't hesitate to contact me. I want to stay in touch. I want to be your Realtor for Life!
