Selling a Home
Choosing an agent is the single most important decision you will make in marketing your home for sale. It is important that you choose an agent that is dedicated to you and your needs in marketing and selling your home. Price and presentation are enormous factors in capturing the buyers in your price range. I am here to make sure that you understand the best way to present your home and that your home sells for what it should in today’s market.
Why I Excel in Selling Your Home
- I know and understand the local real estate market
- I will market your home on multiple websites simultaneously
- I will refer you to a staging professional to give your home a broader appeal
- I will keep you informed of all of your showings and give feedback following them
- I will market your home directly to other agents to increase your home’s exposure
- I will negotiate the best possible sale for you once a contract has been offered
- I will maintain a dedicated and consistent approach to serving you and your needs
The Listing Process
There are hundreds of real estate licensees in our area. Choosing the right agent for your home sale can be confusing, especially when every agent seems so convincing.
There is a way to determine which is most likely to succeed in getting your price and terms. The key is knowing what questions to ask.
Here are some questions to ask any Realtor®
- Do you work as a full-time Realtor®?
- How many years have you been licensed to sell real estate full-time?
- Tell me about your service guarantee.
- What happens if I am unhappy with your performance?
- Why should I list with you?
- Tell me about your follow up system for keeping me informed.
- How many properties have you sold in the past 3 months?
- Can you provide me with 3 references which I can call on to check.
- What is your marketing strategy for my property?
- What listing price do you recommend for my property?
- What is the single most valuable service you provide to a home seller like me?
There are 3 types of market conditions:
1. Sellers Market
This is when the inventory in a specific area is low. Properly priced homes generally sell within 14 to 21 days maximum. If your property has not received an offer within this time period, it is priced too high.
2. Normal Market
This is when there is no real perceived advantage to either the buyers or sellers. Properly priced homes should sell within 30 to 45 days.
3. Buyers Market
This is when you have lot’s of homes on the market for sale in every price range and area. If you price your property just below other similar homes on the market a sale should result within 60 to 90 days. Usually, homes are declining in value in this type of market, therefore, the sooner you sell, the better it is for you!
The National Association of Realtors researched the history of homes that actually sold in all three types of markets and they discovered two critical pieces of information:
95% of all homes that closed escrow sold within 60 days after the listing price (seller’s asking price) was set at the appropriate market price.
Homes properly priced sold within 3% of the seller’s asking price.
Therefore, if a property has not received an offer within 60 days, it is overpriced by at least 5% to 10% or possibly more.
TIME IS OF THE ESSENCE
The majority of buyer activity on a new listing occurs within the first 3 weeks of the initial marketing period.
For this reason, it is important that you have your home in the
and at the
to the market!
“As Is” Pricing Strategy
The property is SOLD without benefit of any repair work paid for by the Seller that is required or recommended in any inspection reports.
The BUYER may have any and all inspections deemed necessary to satisfy themselves as to the condition of the property. These inspections will be paid for by the prospective BUYER.
A strategy such as this is used when the Seller is either in a Short Sale Situation or have little or no equity in the property.
“Quick Sale” Pricing Strategy
This strategy is almost always effective because when a property is priced at or below the current market , it usually will sell quickly.
This pricing strategy makes it much easier for us to get the attention of other agents in our area. As a result there are numerous showings which then generates one or more offers coming from agents that wait for properly priced homes to show their BEST Clients.
This is by far the most effective strategy to get your home SOLD FAST and for the HIGHEST REALISTIC PRICE the market will bear.
“Traditional” Pricing Strategy
This strategy is called TRADITIONAL because it calls for doing all of the normal and usual activities that eventually lead to the sale of your home…
Such as obtaining the proper inspections and completing all necessary repairs called for before the home is placed on the general market.
The agent is following the series of actions called for in the marketing plan by implementing numerous marketing activities designed to create a demand for someone to want to buy your home.
If you do not have an offer within 30 to 40 days, the property is priced too high and is in need of a price enhancement. It is essential that automatic price adjustments occur every 30 days to maintain marketing momentum. Usually, a price adjustment of 5% to 10% at the end of 30 days will result in a sale shortly thereafter.
Determining The List Price
The real market value of your your home is determined when someone tells us that they are WILLING to pay for your home, you decide to accept that price, and Escrow closes!
That may sound odd but until this event actually happens determining market value is really a matter of making an educated guess.
Are you kidding – you GUESS?
There are lot’s of opinions yet only one set of facts. I will examine the Facts of Record and together we will determine a PRICING STRATEGY designed to sell your home for the most money.
No one can tell me what my home will sell for!
Not really. Someone might tell you a figure but no one knows the market value of your home because it is not established until someone buys it for a specific price. That’s why I use facts of record to determine the pricing strategy.
How do we determine which pricing strategy is best for your home?
As mentioned previously, there are lots of opinions but only one set of facts. Together, we will examine the facts of record to determine the most effective pricing strategy to obtain the maximum price possible for you.
My Total Market Overview examines 3 things:
1. Similar Homes Recently Sold
This tells us what buyers are willing to pay for this kind of home, in this area, at this time.
2. Similar Homes Now For Sale
This tells us about the competition. Buyers will compare your home to these homes.
3. Expired Listings
This tells us what buyers are not willing to pay for this kind of home, in this area, at this time.
80% of Marketing Your Home is accomplished using a pricing strategy based on the facts!
Total Market Overview Objectives are:
1. Getting Top Dollar for your Home.
A Total Market Overview will assist us in determining a pricing strategy that leads to a sale.
2. Mobilizing the Agent Community.
Agents will want to show your home to their buyers since a proper pricing strategy was used.
3. Buyers Are Anxious To See Your Home.
Most agents have several buyers that are ready-to-buy. They are simply waiting for a new listing that is priced properly.
Using the Total Market Overview allows us to position your home to maximize our professional marketing strategies.
Remember, Our Job Is To Prepare Your Home So That It Sells For The Most Money, Not The Least!