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Seller's Guide

A Step-by-Step First Time Seller's Guide

Putting your home on the market can be a stressful process, especially when you don’t know what to expect. Fortunately, with the help of an experienced team of Real Estate Agents and this easy to follow guide, you can smoothly complete the process. Following these steps will help you prepare so you can get organized and sell your home for the best price possible.​​​​​​​

STEP 1

Understand Why You're Selling

What do you want to accomplish with the sale of your home? Do you want to make a certain amount of money that you can put toward a larger or nicer home? Do you need to sell it as soon as possible to facilitate a move to a new city or area? Once you understand your needs, you can better craft your offer. For example, if you need to sell quickly, you might want to price your home lower than if your goal is to make a certain profit margin. Make sure you convey these needs to your team of Real Estate Agents once you choose one so they can adjust your selling price accordingly.

STEP 2

Determine Selling Price

Knowing how to price your home is one of the most important parts of the selling process. When you set a fair price in the beginning, you’ll get the most interest from other Real Estate Agents and prospective buyers. Overpricing your home could lead to reduced interest, and underpricing leads to receiving less than what your home is worth. Working with a team of Real Estate Agents is the best way to determine the right selling price for your home. A team of Real Estate Agents with experience can determine what other comparable homes are selling for, evaluate the current market, and may even suggest a home appraisal.

STEP 3

Start Preparations

If you’ve kept your home in showroom condition since you’ve lived in it, you’re in the minority of homeowners. Once you price your home, it’s time to start getting it ready to be shown to potential buyers. This includes getting rid of clutter, depersonalizing the space so that buyers can envision themselves in the space, making any small repairs, and doing a deep clean to make sure your home is in pristine condition.

STEP 4

Develop a Marketing Strategy

We will develop a marketing strategy that is perfect for advertising your home. This involves listing the home and then driving the right people to that listing through social media campaigns, agent-to-agent referrals, traditional media, or SEO advertising. Our team creates a marketing campaign that aims to get the most possible traffic to your listing in the first three weeks after becoming a client.

STEP 5

Evaluate Offers

Receiving an offer is an exciting part of the process, but it doesn’t mean the journey is over. We will evaluate each offer and make sure the party making the offer is prequalified or pre-approved by a mortgage lender and that their offer is acceptable to you. If the offer is too low, you can make a counter-offer or offer other ways to bridge the gap, such as covering some or all of the closing costs, making repairs, adjusting the move-in date, or leaving some appliances or fixtures for the new buyer.

STEP 6

Accept an Offer

Once we deem the offer is acceptable, we will review the proposed contract to make sure it’s all in order and includes the necessary components such as deposit amount, down payment, financing, inspection rights and repair allowances, contingencies, settlement date, and a list of fees and who will pay them. When both parties have agreed to the term, a final contract will be prepared by your team of Real Estate Agents.

STEP 7

Get Ready to Close

You have accepted an offer and are now very close to the end of your selling journey. But first, you and the buyer must make a list of what needs to be done before closing. In some cases, your home may need to be formally inspected, surveyed, and appraised. In other cases, major or minor repairs will need to be made before the house can close. We will head up efforts to develop and execute this list, get each action item paid for by the correct party, and make sure everything is in order by the closing date. A few days before the closing date, we will call the company closing the transaction to make sure everything is ready to go. If you haven’t done so already, you also need to make arrangements to move out of the home so the new buyer can take possession.

STEP 8

Close

You’ve reached the last step in the seller’s process. When you close on a home you are selling, you are legally transferring ownership of the property to the new buyer. We will meet with the company closing the transaction to sign the final paperwork and go over any issues that have not yet been taken care of. During this time, you can also make plans with your team of Real Estate Agents to handle final details such as canceling utilities, cable, and lawn or trash services, changing the name on accounts that the new owner is retaining and ensuring the new owner has instructions for all appliances that will remain in the home.

Seller Resources

Designed to help you navigate the selling process with clarity, from preparing your home for market to closing with confidence.

1: Consider a pre-sale home inspection.
An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.

 

2: Organize and clean.
Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and seasonal items. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

 

3: Get replacement estimates.
Do you have big-ticket items that will need to be replaced soon? Find out how much it will cost to repair an older roof or replace worn carpeting, even if you don’t plan to do so. The figures will help buyers determine if they can afford the home, and they’ll be handy when negotiations begin.

 

4: Locate warranties.
Gather up the warranties, guarantees, and user manuals for the furnace, washer/dryer, dishwasher, and any other items that will remain with the house. It may seem like this task can be left until closing, but you don’t want lost paperwork or last-minute scrambling to cause the deal to fall through.

 

5: Spruce up the curb appeal.
Walk out to the front of your home, close your eyes, and pretend you’re a prospective buyer seeing the property for the first time. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? What do you see framing the entrance, if anything? Is the walkway free of cracks and impediments?

Real Estate Agents aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the Real Estate Agent difference for home buyers:

 

1. Ethical treatment.
Every Real Estate Agent must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a Real Estate Agent’s client, you can expect honest and ethical treatment in all transaction-related matters. The first obligation is to you, the client.

 

2. An expert guide.
Buying a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.

 

3. Objective information and opinions.
Real Estate Agents can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. Real Estate Agents can use that data to help you determine if the property has what you need. By understanding both your needs and search area, they can also point out neighborhoods you don’t know much about but that might suit your needs better than you’d thought.

 

4. Expanded search power.
Sometimes properties are available but not actively advertised. A Real Estate Agent can help you find opportunities not listed on home search sites and can help you avoid out-of-date listings that might be showing up as available online but are no longer on the market.

 

5. Negotiation knowledge.
There are many factors up for discussion in a deal. A Real Estate Agent will look at every angle from your perspective, including crafting a purchase agreement that allows enough time for you to complete inspections and investigations of the property before you are bound to complete the purchase.

 

6. Up-to-date experience.
Most people buy only a few homes in their lifetime, usually with quite a few years in between each purchase. Even if you’ve done it before, laws and regulations change. Real Estate Agents handle hundreds of transactions over the course of their career.

 

7. Your rock during emotional moments.
A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.

Once you are under contract, the buyer’s lender will send out an appraiser to make sure the purchase price is in line with the property’s value.

 

Appraisals help guide mortgage terms.
The appraised value of a home is an important factor in the loan underwriting process. Although lenders may use the sale price to determine the amount of the mortgage they will offer, they generally only do so when the property is sold for less than the appraisal amount. Also, the loan-to-value ratio is based on the appraised value and helps lenders figure out how much money may be borrowed to purchase the property and under what terms. If the LTV is high, the lender is more likely to require the borrower to purchase private mortgage insurance.

 

Appraised value is not a concrete number.
Appraisals provide a professional opinion of value, but they aren’t an exact science. Appraisals may differ quite a bit depending on when they’re done and who’s doing them. Changes in market conditions also can dramatically alter appraised value.

 

Appraised value doesn’t represent the whole picture of home prices.
There are special considerations that appraised value doesn’t take into account, such as the need to sell rapidly.

 

Appraisers use data from the recent past.
Appraisals are often considered somewhat backward-looking because they use sold data from comparable properties (often nicknamed “comps”) to help come up with a reasonable price.

 

There are uses for appraised value outside of the purchase process.
For selling purposes, appraisals are usually used to determine market value or factor into the pricing equation. But other appraisals are used to determine insurance value, replacement value, and assessed value for property tax purposes.

How long have you been in residential real estate sales? Is it your full-time job?
Like most professions, experience is no guarantee of skill. But much of real estate is learned on the job.

 

How many homes did you and your real estate brokerage sell last year?
This will touch on how much experience they have, and how up-to-date they are on the local market.

 

What designations or certifications do you hold?
Real estate professionals have to take additional specialized training in order to obtain these distinctions. Designations and certifications help define the special skills that an agent can apply to your particular real estate needs. One designation sellers might for is the CRS®, or Certified Residential Specialist, but there are also specialists for military customers, seniors, and those who are considering a short sale, among others.

 

How many days does it take you to sell a home? How does that compare to others?
The Real Estate Agent you interview should have information about their performance on hand and be able to present market statistics from their local MLS to provide a comparison.

 

What’s the average variation between your initial listing and final sales price?
This is one indication of a Real Estate Agent’s pricing and negotiating skills.

 

What specific marketing systems and approaches will you use to sell my home?
Your agent should have an aggressive, innovative plan and understand how to market property online.

 

Will you represent me exclusively, or might you also choose to represent the buyer?
While it’s usually legal to represent both parties in a transaction, your Real Estate Agent should be able to explain his or her philosophy on client obligations and agency relationships.

 

Can you recommend service providers who can help me obtain a mortgage, make home repairs, and so on?
Practitioners should be able to recommend more than one provider and let you know if they have any special relationship with any of the providers.

 

How will you keep me informed about the progress of my transaction?
The best answer here is a question. A Real Estate Agent who pays attention to the way you prefer to communicate and responds accordingly will make for the smoothest transaction.

 

Could you please give me the contact information of your three most recent clients?
Ask their former customers if they would use the agent again in the future.

Tips For Selling Your Home

Included are some easy and cost effective suggestions to help transform your home in such a way that homebuyers can visualize living there. Success breeds success! Clean, warm and inviting homes feel successful and people want to be a part of that!

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1. Clean the house

Thoroughly clean the house, including all surfaces, floors, windows, shelves, ovens, sinks, commodes, and even closets. Everything visible should look pristine. I believe it is money well spent to hire a cleaning crew to come in and deep clean. Buyers can notice the difference.

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2. Make sure the house smells good

Make sure the house smells good. If there are pets present, I recommend a carpet cleaner come out to the house and steam every room.

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3. Eliminate clutter

Eliminate clutter from all counters and floors in the kitchen, bathrooms, off mantles, chests of drawers, etc. Pack all personal photos and frames, figurines, etc., except a few on each surface. Leave enough to keep the room interesting. Keeping larger and fewer larger pieces is recommended over numerous small ones.

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4. Kitchen appliances in cabinets

Put small kitchen appliances in cabinets and other items that are sitting on countertops (spices, coffee, etc.) away and out of sight. Consider putting these items in the pantry, but keep the pantry well-organized and tidy. You want a buyer to see how much space there is for storage. Pack in boxes all superfluous cans of soup and staples you can do without. Free up shelf space wherever possible.

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5. Keep closets and pantries organized

Keep closets and pantries organized and orderly.  Buyers relate to a house in order.  Go as far as to organize clothes by color or length on a hanger!  This will add to the successful feeling of the home.

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6. Touch up walls

Touch up walls and nail holes, but be sure the paint matches exactly for tone and finish. If the wall(s) are particularly marked or dirty, have the wall(s) painted in a nice shade or neutral tone. It does not have to be white!

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7. Clean up the yard

Clean up the yard. Blow leaves, trim and edge the walkways, pull out weeds, add new mulch wherever possible under trees and shrubs, prune bushes so they look well-maintained, and power wash the driveway and walkway if they are stained. I recommend hiring a landscaping company to give your yard a thorough inspection. This is money well spent! FIRST IMPRESSIONS ARE EVERYTHING!!!

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8. Clean and organize the garage

Clean and organize the garage. It is okay to have things stacked in an orderly fashion in about 1/3 of the garage, but try to have enough clean space to show a buyer the width and depth of the garage. If you can’t fit your things into 1/3 to 1/2 of the space, it is suggested that you rent a storage space and move as much as possible into storage.

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9. Store or organize hoses

Store or organize hoses and other items that make the yard look messy. Put all empty pots and tools, portable sprinklers, and the like out of sight. Discard any plants that look dead or neglected. Add large flower pots in strategic places with new flowers or greenery. This will enhance your front entry and the back patio!

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10. Make front entry inviting

Make the front entry inviting. Again, clear away any small items or debris. Make sure your front door is clean and presentable. It should be free of paint chips and cracking. If it has an out-of-date paint color, it is recommended that you paint it a complementary color to the house’s color. Deep red is always a popular choice. Stay away from high gloss! Buying a new stained door can make the front entrance a positive first impression. Adding a large flower pot or an interesting art element can also add flavor to your entrance. Buy a new doormat. Something welcoming and attractive. Don’t overdo it and be certain not to block the entrance in any way at all. Every passageway needs to feel as open and large as possible.

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