Selling a home need not be difficult. Each deal is unique and requires many different skill sets. No two deals are alike because of seller circumstances, market conditions, house condition, pricing.
Find a good realtor that you like, you trust and you are in “flow” with. In other words someone with whom you can discuss your options and they will tell you the truth and keep their commitments. By this time you have already received a pre-listing packet and have all your questions ready.
More than likely your Realtor will show you:
- Your odds of selling as a percentage
- The best time of year to sell (adjusted for seasonality +outside forces)
- Property exposure and how that will be achieved
- A clear concise written Global Marketing Plan with options
- The absorption rate for your neighborhood
- A velocity chart showing supply and demand in price bandwidths
- A relevant easy to read market analysis
- Communication preferences and frequency
- Showing instructions options
Some very relevant questions would be;
- Your question list?
- Why are you selling?
- Where are you going?
- How soon do you need to be there?
- What is the condition of your house?
- Are you willing to list your home at a fair market value?
- What would happen if the house didn’t sell?
- If the Realtor found a buyer for the house in 72 hours would you be okay with that?
- Deciding on Pricing 30 day price, 60 day price, 90 day price…
- De-cluttering and preparation for showings
- Realtor walk through prior to launch
The listing agreement is signed. Ask any questions that may have come up. Okay now your house is a product competing against all the other houses in the demographics for the lifestyle. It has to be the best or at least in the top 3-4. All things in control (ie condition, pricing, etc) need to be in alignment.
Showings begin and there is a flurry of showings the first few weeks. Feed back is gleaned from every Realtor’s buyer that has set a showing whether it was shown or not. Adjustments are made in response to the feedback. Realtors representing buyers will be attempting to find out what your motivation for selling is to give them a leg up on the offer. It is important that you not be present during showings but if you find yourself present during showings you can always refer questions like “it’s such a lovely home why would you want to sell this?” A great answer is “so your buyer can buy it.”
- An offer is made accompanied by a pre-qualification letter from a lender or a financier with proof of cash and an earnest money check.
- The Realtor combs through the offer and brings his expertise and clarifies the offer or offers if there is more than one, making sure the contingency dates and all additional provisions are in alignment.
- Which offer is best and why; going over every detail of the offers with the seller.
- Negotiating at this point.
- Offer or counter-offer is accepted
- Some very important pieces coming up will be: Inspection, appraisal and loan conditions met and title documentation.
- Inspection is done soon after the offer is accepted. Either issues are agreed upon and are resolved or the buyer may terminate the contract at this time.
- Appraisal is next. If the house appraises under the value of the purchase price, the buyer’s agent may renegotiate with the seller, put additional money down to keep the loan to value ratios in line or terminate the contract.
- Loan conditions are met.
- Title documentation is received and all exceptions if any have been noted and mitigated.
- The buyer’s Realtor will arrange to do a final walk through to see that all inspection items were addressed and all inclusions exclusions are in place.
- Closing typically takes place at a title company. Basically you bring keys, garage remotes, etc.
- The title closer will guide the parties through the various documents that are signed. After signing keys and remotes are exchanged and you have Sold! your home.