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For Sellers

For Sellers

As Your Agent, I Will:  Complete a comparative market analysis that will compare your home's value to that of your neighbors.  I will share all the data that I have used to evaluate your home.  Compile a comprehensive plan detailing all the efforts I will employ to sell your home, including Internet and local media.  Present your home to as many qualified buyers as possible getting your home maximum exposure.  Make suggestions to help you stage your home and generate curb appeal to ensure you get the highest price.  Assist with obtaining offers and help you in negotiating the best deal as smoothly as possible. Help you find your next home and answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.

Recent Home Sales ? What are homes selling for on your street? Feel free to contact me to find out what neighborhood homes are selling for, free of charge, or to receive a more detailed analysis of the value of your home.  

Getting the Highest Price for Your Home Curb appeal is key and could make a difference whether people stop and take a flyer, or drive right by. Here are a few tips to increase the curb appeal of your home. Staging your home is important. Many buyers will stay in your home longer if it's staged appropriately. I have compiled some ideas to present your home in the most effective manner.

Closing Costs to Expect:      Broker's marketing cost is a full-service fee and will locally cost between 6% to 7% for a residential home. Attorney Fees, usually a necessity in NC, very modest costs for the seller's side.  Local property transfer tax, county transfer tax, state transfer tax, and state capital gains tax are the charges that you'll pay f selling your home. Credit to the buyer of unpaid real estate taxes for the prior or current year are variable and depend on date you close and date your taxes are due.  FHA fees and VA costs are all fees are now negotiable between an buyer and seller. Home inspections fees are in some rare circumstances paid for by the seller and include pest, & other inspections.  Usually the buyer responsibility.Miscellaneous repair cost from correcting problems noticed during the home inspection.

Selling a home isn't much work if you break the tasks down into a 6 step process

Step 1: Plan/Prepare   Some 5 million existing homes are sold each year, and while each transaction is different every owner wants the same thing - the best possible deal with the least amount of hassle and aggravation. Unfortunately, home selling has become a more complex business than it used to be. New seller disclosure statements, longer and more mysterious form agreements, and a range of environmental concerns have all emerged in the past decade.  More importantly, the home-selling process has changed. Buyer brokerage - where REALTORS® represent homebuyers - is now common nationwide, and good buyer-brokers want the best for their clients.

The result is that while almost 100,000 existing homes are sold each week, the process is not as easy for sellers as it was five or 10 years ago. Surviving in today's real estate world requires experience and training in such fields as real estate marketing, financing, negotiation and closing - the very experience you get by putting me to work for you.

Are you ready?  The home-selling process typically starts several months before a property is made available for sale. It's necessary to look at a home through the eyes of a potential buyer & determine what needs to be cleaned, painted, repaired and tossed out.   Ask yourself: If you were buying this home what would you want to see? The goal is to show a home which looks good, maximizes space and attracts as many buyers - and as much demand - as possible. More importantly, when you seriously have decided to sell you need to begin to think about your property less as "your home" and more as "your product." Are you able to do this?  Is it Is it a good product?   While part of the "getting ready" phase relates to repairs, painting and other home improvements, this is also a good time to ask why you really want to sell. Selling

 a home is an important matter and there should be clear on your reason to sell - perhaps a job change to a new community or the need for more space. Your reason for selling can impact the negotiating process so it's important to discuss your needs and goals in private .

Step 2: Call me for a market analysis    Why call a Realtor?  Granted, some people are able to go to work for themselves & sell their own homes without the services of a real estate agent. Some of these successful do-it-yourselfers are very experienced home sellers who know about the sales process and are prepared for the legwork & aggravation. Some sellers find themselves in a market of extreme housing scarcity. Others are transferring ownership of their home to a child, a coworker or a tenant who's already living in the home. These circumstances are the exception, not the norm, however.

  For most buyers & sellers, a for-sale-by-owner (FSBO) transaction simply isn't in the cards. Buyers who are not local, lack experience or free time simply can't navigate the hurdles & details, preferring to let someone else do that work. Some buyers do want to shop FSBOs, because those home shoppers often expect to reduce the price straightaway at least the amount of the marketing fee, regardless of how the homeowner initially priced the home.  Buyer & Seller can't both save the marketing fee !

Sellers who hope to "work for themselves" by taking on this chore often find they are "working for free."

 Here are five reasons why.

1. FSBOs can't list their home in the MLS. FSBOs aren't permitted to put their home in the multiple listing service (MLS) because these industry membership organizations are open only to licensed real estate brokers and agents, who pay fees to maintain these databases. FSBOs get locked out of many home search engines and Web sites, including the gigantic Realtor.com. Sure, a determined FSBO can shoulder the expense to put a for-sale sign in his or her front yard and run an advertisement in the local newspaper, but the home won't receive the same volume of print and internet advertising offerd by a team organization  No classified advertising reaches as far or with as much  exposure as home listings through the MLS.

2. Agents won't show FSBO homes.  In a typical home sale, the buyer's agent receives at least half of the commission that the seller pays the listing agent. Without a listing agreement, there's no guarantee that the buyer's agent will be compensated for his or her services, unless the buyer pays, signing a brokerage agreement that specifically provides for such compensation. Even when a FSBO offers to pay the buyer's side of the commission, most agents are reluctant to go through a transaction with an unseasoned self-represented seller across the table. That means the pool of potential buyers for FSBO homes is limited primarily to unrepresented and frequently unqualified prospects.

3. FSBOs usually mis-price their home. Like most home owners, your own home is special to you. Without market and appraisal data many FSBOs honestly believe their own home is worth more than comparable homes in the same neighborhood.  At other times owners are not aware of positive influences in their real estate market.  I provide an update on market conditions, an assessment of the likely selling price of the home and tips for improving the home's buyer appeal. It helps to have the facts, no matter what approach to pricing you take as the seller.  It is important to remember; when you offer your home for sale, it is transformed from your home to your  product, so you want to offer a product that makes you money!!

  Remember: the seller sets the price, but ideally the most effective decision is an informed decision. 

4. Buyers will feel intimidated. Potential buyers will spend far less time inside a for-sale home if the owner is present during the showing.  They are shy about discussing its pluses and minuses even with their own agent when the owner is within earshot. Polite buyers will also be less inclined to make an offer if they know they'll be negotiating directly with a proud homeowner. Alternatively, rude buyers shamelessly try to "beat down" even a reasonable price!  Having an agent creates an effective emotional buffer between the seller and buyer.

5. FSBOs are likely to stumble into legal trouble. Real estate transactions are fraught with potential liability for unwary sellers. A FSBO who overlooks even one required form or legally mandated disclosure could face lost marketing days,a lost sale, or even a protracted and expensive buyer lawsuit after the transaction closes.

 

In other words, home selling is part art, part science, part marketing, &  part negotiation.  Unlike math where 2 + 2 always equals 4, in real estate there is no certain conclusion. All transactions are different, and because of this, we both need to as much as possible to prepare your home for sale and market aggressively

Step 3: You Set the Price  Every reasonable owner & agent wants the best possible price and terms for the home.  Several factors, including market conditions and interest rates, will determine how much the market will fetch for any home. The idea is to get the maximum price and the best terms during the window of time when your home is being marketed. We look for ways together to maximize the value of the offering in the marketplace to increase the profits of the sale.

What is your home worth?
All homes have a price, and sometimes more than one. There's the price owners would like to get, the value buyers would like to offer and a point of agreement which can result in a sale.

In considering home values, several factors are important:

  • The value of your home relates to local sale prices. The same home, located elsewhere, would likely have a different value.
  • Sale prices are a product of supply and demand..
  • Owner needs can impact sale values. If owner Smith "must" sell quickly, he will have less leverage in the marketplace. Buyers may think that Smith is willing to trade a quick closing for a lower price -- and they may be right. If Smith has no incentive to sell quickly, he may have more marketplace strength.
  • Sale prices are based on market forces & are not based on what owners "need."  Anyone who could control these market forces would be very wealthy indeed! When an owner says, "I must sell for $300,000 because I need $100,000 in cash to buy my next home," buyers will quickly ask if $300,000 is a reasonable price for the property. When buyers instead purchase competing similar homes in the same community selling for $250,000, the seller will not be able to compete for the salel.

Sale prices are NOT the whole deal. Which would you rather have: A sale price of $200,000, or a sale price of $205,000 but where you agree to make a "seller contribution" of $5,000 to offset the buyer's closing costs, pay a $2,000 allowance for roof repairs, fund two mortgage points, re-paint the entire house and leave the washer and dryer? No less important, a home sale by itself can be complex. There will be people looking at your house, documents to sign and issues to be negotiated. Because a home sale involves a number of both personal and business concerns, you need to get it done right. You need to carefully prepare your home, understand the market and see what alternatives are realistically available. The old motto "be prepared" applies to the whole sales "team,"  you and me!

What's an acceptable offer?  The goal of every seller is to have a line of buyers outside the front door, each clutching higher and higher offers. And while this has been known to happen, in most markets there is some balance between the number of buyers and sellers. A number of factors determine whether a buyer's offer is acceptable. They include:

  • Is the offer at or near the asking price? Is the offer above the asking price?
  • Has the buyer accepted the asking price or something close? Has the buyer then buried thousands of dollars in discounts and seller costs within tiny clauses and contract additions?
  • What is the alternative to the buyer's offer? If a home has not attracted an offer in months, then sellers need to determine if a better deal is possible -- recognizing that each month costs are being incurred for mortgage payments, taxes and insurance.
  • Does the owner have enough time to wait for other offers?
  • What is the financial affect  if no other offers are received?
  • What if several offers are received? Do you choose the high offer from the purchaser with questionable finances who may not be able to close, or a somewhat lesser offer from a buyer with preapproved financing?
  • Owners -- with my support -- will need to carefully review offers, consider marketplace options and then determine whether an offer is acceptable to them

 

 

.Step 4:Negotiate your offer     How do you negotiate?  It's sometimes argued that negotiation must produce one "winner" and one "loser." Others suggest that a "win/win" situation is possible where each side gets something of value. Real estate bargaining typically involves compromises by both sides. It's not war; it's not winner-take-all; and it's not the time to take personally any comments made by purchasers. Instead, negotiating should be seen as a natural business process; buyers should be treated with respect; and with sellers we never lose sight of either their best interests or their baseline transaction requirements. These are the standards we set for serving each owner, which must be met before the home can be sold.

 

Step 5: Close   

It might seem as though once a sale agreement has been signed that the selling process is complete. Not only is it not over yet, but some of the most complex aspects of a real estate transaction now begin. This is when my real work for you begins!
A purchase agreement for your home  sets not only a purchase price for the home, but also a series of terms and conditions. Example: Contracts routinely depend on the ability of a buyer to obtain financing, which is why we prefer buyers with preapproval letters from lenders.  

A growing percentage of transactions involve a home inspection, or a physical review of the home by a trained and independent observer.   Lenders will establish numerous conditions before granting a loan. They will want  a title exam, title insurance to protect against title errors, termite inspections, surveys and an appraisal to assure that the home has sufficient value to secure the loan.The realtors involved typically arrange required inspections, negotiates any repair issues,  and helps the owner prepare for closing.

 

When should you close?
With automation now available, closings can occur within a week in some areas -- at least in theory. In practice, it takes time to arrange financing, conduct inspections, obtain appraisals, locate replacement housing, contact movers, pack and actually move.

While instant closings are not practical, neither are closings too far in the future. The problem with closings much past 60 days is that loan rates are difficult to lock in. If mortgage rates go up, it's possible that the buyer will no longer be able to afford the home and thus the deal may fall through.

The result of these considerations is that most homes close 30 to 45 days after a sale agreement has been signed.

Selling your home shouldn't be a stressful ordeal. Making the smart move of choosing a REALTOR® is your first step to ensuring that your investment in your home pays off. Allow me to serve you, and I'll put to work my contacts & experience.  Focus on your move while I manage your home sale from our initial consultation to the closing deal, and beyond. I pride myself on repeat business and hope you'll come to understand why.