KNOW YOUR LOCAL MARKET

• IS IT A BUYER’S OR SELLER’S MARKET?
• WHAT ARE THE COMPARABLES IN YOUR AREA SELLING FOR?
  • CUSTOM DETAILS DON’T MATTER AS MUCH AS YOU MIGHT ASSUME
  • WHAT HOMES ARE GOING FOR IN YOUR AREA IS GOING TO BE VERY CLOSELY LINKED TO WHAT YOU CAN GET FOR YOUR HOME
  • LOOK UP A FEW SIMILAR SIZED HOMES WITH THE SAME NUMBER OF BEDROOMS AND BATHROOMS IN YOUR NEIGHBORHOOD
  • BE PREPARED TO LIST CLOSE TO WHAT THOSE HOMES ARE LISTING FOR

TIME OF YEAR

• HOME BUYING IS SEASONAL
• CERTAIN SEASONS CAN IMPACT HOW QUICKLY AND FOR HOW MUCH YOU CAN SELL YOUR HOME
• THE SUMMER WILL GENERALLY SEE HIGHER AND FASTER SALES IN MOST MARKETS
  • THIS ESPECIALLY GOES FOR MARKETS WITH LARGE MILITARY INSTALLMENTS IN THE AREA
  • NEW ORDERS ARE GENERALLY EXECUTED IN THE SUMMER IN AN EFFORT TO NOT DISRUPT FAMILY LIFE MORE THAN IT ALREADY IS

WORK WITH A REAL ESTATE
AGENT

• EVEN IF YOU ARE THINKING OF GOING FSBO FIND A BROKERAGE IN YOUR AREA THAT OFFERS LOW FEE STRUCTURES THAT COULD ASSIST YOU IN:
  • LISTING ON THE MLS
  • ACCEPTING AND NEGOTIATING SALES CONTRACTS
    
• A GOOD AGENT SHOULD:
  • OFFER GUIDANCE
  • NOT ONLY PROVIDE MARKET EXPERTISE BUT GET YOU ACCESS TO THE MARKET DATA
  • NEGOTIATE ON YOUR BEHALF
    • THI S IS A HUGE PART OF THE JOB AND AN EXPERIENCED AGENT WILL KNOW HOW TO HANDLE MULTIPLE DIFFERENT SCENARIOS AND COUNTER SITUATIONS
  • HAVE HANDY TIPS AND TRICKS FOR GETTING THE BEST PRICE
  • WILL LIST YOUR PROPERTY ON THE MLS
    • MLS LISTINGS ARE DIRECTLY FED TO 3RD PARTY RETAILERS SUCH AS ZILLOW AND REALTOR.COM
  • CAN MARKET YOUR PROPERTY EXTERNALLY AND INTERNALLY TO OTHER AGENTS

DECLUTTER AND DEPERSONALIZE

• USE PSYCHOLOGY TO YOUR ADVANTAGE
  • YOU WANT THE BUYER TO BE ABLE TO IMAGINE THEMSELVES LIVING THERE. THAT WILL BE HARD IF THEY ARE LOOKING AT YOUR FAMILY PHOTOS. TAKE THOSE DOWN
  • CLUTTER CAN UNCONSCIOUSLY LEAVE A BAD TASTE IN A PERSON’S MOUTH. IF YOUR HOUSE IS CLUTTERED THE POTENTIAL BUYER MAY RESPOND NEGATIVELY TO YOUR HOME

MINOR REPAIRS AND
TOUCHUPS

YOU DON’T NEED TO GO ALL OUT TO COMPLETELY REVAMP YOUR HOUSE AND TO BE HONEST THE REMODELING COST WILL NOT ALWAYS BE REFLECTED IN THE SALES PRICE SO DON’T WORRY ABOUT YOUR OUTDATED COUNTERS OR CABINETS!
LET THE BUYER CHOOSE TO REMODEL THE KITCHEN

DO CONSIDER MAKING SMALL FIXES:

• LEAKY FAUCETS AND SQUEAKY DOORS
• CHIPPED PAINT
• CONSIDER CLEANING AND PAINTING THE BASEBOARDS TO GIVE YOUR HOME A FRESH APPEARANCE
• IF THE WINDOW COVERINGS ARE OLD REPLACE THEM. SAME WITH SCREENS
• MAKE SURE TO REPLACE THE AIR FILTERS
• HAVE THE AIR VENTILATION SYSTEM CLEANED OUT
  • MAKE SURE THIS IS INCLUDED IN THE MARKETING

BOOST CURB APPEAL

• FIRST IMPRESSIONS MATTER AND THAT INCLUDES THE APPEARANCE OF THE HOME AS THE BUYER PULLS UP
• CLEAN UP THE LANDSCAPING
  • CUT BACK ANY BUSHES
  • WEED THE FRONT YARD AND THE BACK IF IT IS VISIBLE FROM A STREET
• GET ANY TREES THAT OVERHANG THE ROOF CUT BACK.
  • THERE IS A GOOD CHANCE THOSE COULD IMPACT THE APPRAISAL OR THE ABILITY FOR THE BUYER TO GET HOME OWNER’S INSURANCE THROUGH THEIR LENDER
  • THIS COULD AFFECT THE DEAL
• TIDY UP THE ENTRANCE
  • REPLACE THE DOOR MAT IF IT IS OLD OR WORN
  • REPAINT THE DOOR IF IT LOOKS OLD OR CHIPPED
  • ADD SOME SHRUBBERY TO CREATE A MANICURED APPEARANCE

PROFESSIONAL STAGING AND PHOTOGRAPHY

• GET PROFESSIONAL PHOTOS
  • THIS IS A MUST AND MAKES ALL THE DIFFERENCE
• CONSIDER GETTING A FLOOR PLAN OR VIRTUAL TOUR
  • STUDIES HAVE SHOWN THIS BOOSTS BUYER INTEREST IF THEY CAN REALLY SEE HOW YOUR HOME IS LAID OUT WITHOUT HAVING TO GO THERE AND FIND OUT
    
• STAGING:
  • AI HAS COME A LONG WAY FOR VIRTUAL STAGING
  • IF YOUR HOME IS STILL FURNISHED CONSIDER REARRANGING FURNITURE TO MAKE IT APPEAR MORE STAGED
    • REMOVE ALL THE BULK AND HIDE IT AWAY IN THE GARAGE OR IN STORAGE
    • YOU CAN HIRE A STAGING COMPANY TO COME IN AND SHOW YOU HOW TO CONCEPTUALLY REARRANGE YOUR HOME TO BEST HIGHLIGHT FEATURES AND MAKE IT APPEAR MORE PLEASING TO BUYERS
      • REMEMBER YOU ARE TRYING TO SELL YOUR HOME AND HOW YOU HAD YOUR FURNITURE MAY WORK FOR YOU BUT MAY NOT SHOWCASE THE HOME ITSELF. SOMETIMES IT IS GOOD TO GET A NEUTRAL OPINION AS TO HOW YOUR HOME SHOULD BE STAGED

USE A COMPARATIVE MARKET
ANALYSIS

• ALSO KNOWN AS A CMA, YOU CAN WORK WITH YOUR AGENT TO EVALUATE SIMILAR PROPERTIES
• DO NOT OVERPRICE YOUR HOME
  • YOU MAY FEEL YOUR HOME IS WORTH MORE BUT IF YOU OVER PRICE IT COMPARED TO SIMILAR PROPERTIES IN THE AREA YOU MAY HAVE TROUBLE SELLING
  • OVERPRICING LEADS TO:
    • PRICE REDUCTIONS
    • LONGER TIME ON MARKET
  • THIS SHOULD BE A CONCERN WHEN YOU FACTOR IN BUYERS SEEING THOSE PRICE REDUCTIONS AND SUBCONSCIOUSLY CONCLUDING THERE ARE DEFECTS IN THE PROPERTY THAT ARE CAUSING IT TO BE REDUCED.
  • BUYERS WILL LIKELY MAKE OFFERS FOR EVEN LESS IF THEY SEE SEVERAL PRICE REDUCTIONS AS THEY WILL ASSUME THEY HAVE IDENTIFIED A DEAL

PRICE STRATEGICALLY

• THERE ARE STRATEGIES TO PRICING YOU CAN DISCUSS WITH YOUR AGENT
• STUDIES HAVE SUGGESTED THAT ROUND NUMBERS AND PRICES THAT INCLUDE 9’S ARE LOOKED AT FAVORABLY BY PEOPLE
• OTHER STRATEGIES INCLUDE UNDERCUTTING OVER OVER PRICING HOMES

KNOW HOW YOUR PROPERTY IS BEING MARKETED
FOLLOW UP WITH YOUR AGENT

• THERE ARE MANY WAYS TO MARKET PROPERTIES AND WHEN LISTING YOU CAN DISCUSS THE WAYS YOUR AGENT INTENDS TO MARKET. THESE CAN INCLUDE:
  • LISTING ON THE MLS
    • SITES SUCH AS ZILLOW WILL PICK THESE LISTINGS UP VIA MLS CONTRIBUTION
  • SOCIAL MEDIA
    • DOES YOUR AGENT HAVE A PLATFORM THROUGH THEIR BROKERAGE OR INDIVIDUALLY THEY CAN MARKET YOUR PROPERTY ON?
    • ARE YOU HOPING TO POST YOUR PROPERTY TO YOUR OWN SITES? DISCUSS THIS WITH YOUR AGENT SO THEY CAN CREATE THE MARKETING MATERIALS FOR YOU WITH THE RIGHT CONTACT INFORMATION.
    • THERE ARE LEGALITIES AROUND HOW TO OFFICIALLY ADVERTISER A PROPERTY AND IF DONE CORRECTLY YOUR AGENT WILL BE THE ONE RECEIVING ALL COMMUNICATIONS AND INTEREST IN THE PROPERTY INSTEAD OF YOU.
  • OPEN HOUSES AND SHOWINGS
  • PRINT MATERIAL SUCH AS FLYERS, POSTCARDS, AND BROCHURES
  • ONLINE AGENT TO AGENT MARKETING CAMPAIGNS
  • VIDEOGRAPHY ON PLATFORMS SUCH AS YOUTUBE

COMPARE ALL TERMS

• DON’T JUST LOOK AT THE PRICE! REVIEW CONTINGENCIES, CLOSING COSTS, AND FINANCING
  • MANY TIMES A BUYER WILL COME WITH AN OFFER FOR THE LISTING PRICE BUT HAVE REQUESTS FOR SELLER CONCESSIONS TO COVER FEES AND CLOSING COSTS OR REPAIR REQUESTS
  • DON’T GET CAUGHT UP ON CONCESSIONS. WOULD YOU HAVE ACCEPTED AN OFFER FOR $10,000 BELOW THE LISTED PRICE? THIS IS THE SAME AS TAKING AN OFFER AT LISTING + $10,000 FOR CLOSING COSTS

COUNTEROFFERS

• DON’T IMMEDIATELY REFUTE AN OFFER THAT MAY BE CLOSE TO WHAT YOU ARE LOOKING FOR
• YOU CAN ALWAYS COUNTER AN OFFER TO BEGIN NEGOTIATIONS FOR BETTER TERMS WHILE MAINTAINING BUYER INTEREST
  • A COUNTER OFFER IS NOT A CONTRACTUAL OBLIGATION, AND YOU ARE UNDER NO CONDITION TO ACCEPT THEIR INITIAL OFFER IF YOUR COUNTER. YOU WILL HOWEVER BE CONTRACTUALLY OBLIGATED TO HONOR THE COUNTER OFFER IF THEY ACCEPT

STAY OBJECTIVE

• DON’T LET YOUR EMOTIONS CLOUD YOUR DECISION-MAKING!
• TRY NOT TO MAKE ASSUMPTIONS ABOUT YOUR BUYER OR THEIR MOTIVES AS YOU DO NOT KNOW THEM
  • IF YOU THINK THEY ARE TRYING TO TAKE YOU FOR EVERYTHING THEY CAN, YOU ARE PROBABLY CORRECT. BUT YOU ARE ALS TRYING TO GET THE BEST DEAL POSSIBLE
  • FIND THE MIDDLE GROUND YOU CAN BOTH SETTLE WITH

HOME INSPECTIONS AND
APPRAISALS

• BE PREPARED TO NEGOTIATE IF ISSUES ARE FOUND OR IF THE APPRAISAL COMES IN LOW
• DON’T LET THE HOME INSPECTION BE A SURPRISE!
  • GET A PRE-LISITNG INSPECTION SO YOU CAN GET A JUMP ON ANY SMALL OR MINOR REPAIRS AND BE PREPARED TO LIST WITH ANY LARGER REPAIR ITEMS CONSIDERED
  • THIS MAY SEEM COUNTERINTUATIVE AND YOUR INCLINATION MAY BE TO TRY AND HIDE AN ISSUES, BUT KNOW IF IT COMES UP IN A PRE-LISTING INSPECTION IT WILL COME UP IN THE ONE DONE FOR THE BUYER. THESE ISSUES CAN BE WHAT BREAKS A DEAL AND RESULTS IN THE PROPERY BEING “BACK ON THE MARKET”
    • EVEN WITH A LINE SUCH AS “NO FAULT OF THE SELLER” BUYERS ARE GOING TO ASSUME THE DEAL FELL APART DUE TO DEFECTS IN THE HOME
    • THIS WILL INEVITABLY RESULT IN PRICE REDUCTIONS AND LONGER TIME SPENT ON MARKET

PAPERWORK AND LEGAL
DOCUMENTS

• YOUR AGENT AND ESCROW COMPANY WILL GUIDE YOU THROUGH THE REQUIRED CONTRACTS AND DISCLOSURES BUT KNOW SIGNIFICANT DATES
  • DON’T RISK THE DEAL FALLING APART BECAUSE A LOAN ESTIMATE WAS NOT DELIVERED TO THE BUYER OR THE CLOSING WAS DELAYED DUE TO NOT BEING SCHEDULED AND COMMUNICATED TO BOTH PARTIES!
  • FOLLOW UP WITH YOUR AGENT TO MAKE SURE EVERYTHING IS MOVING ALONG AND HAPPENING AT THE CORRECT TIME
  • YES IT IS YOUR AGENT AND ESCROW AGENT’S JOB TO GET TO THE CLOSING TABLE BUT IT IS YOU THAT IS AFFECTED IF THE DEAL FALLS THROUGH. BE AWARE OF WHAT IS GOING ON!

FINAL WALKTHROUGH
AND HANDOVER

• ENSURE EVERYTHING IS IN THE AGREED-UPON CONDITION
• BUYERS CAN SUE FOR COMPENSATION IF THEY FEEL THE HOUSE IS NOT TURNED OVER IN THE EXACT CONDITION THEY EXPECTED IT.
  • THIS ESPECIALLY HOLDS TRYE IF YOU REMAIN AFTER CLOSING SO MAKE SURE THE PROPERTY IS TURNED OVER IN THE CONDITION THEY EXPECTED
  • DON’T OPEN YOURSELF UP TO LITIGATION VIA DAMAGES FROM MOVING POST CLOSE OR WEAR AND TEAR FROM STAYING ON AFTER CLOSE