Seller’s Guide Moving Forward
Donna Edwards Real Estate Broker Associate 4200 Maple Avenue - Odessa, TX 79762
(432)934-4439
Table of Contents - Help from your Listing Agent - PAGE 2 - Your Home’s Value - PAGE 4 Priced to Sell, Not Sit
- Providing More For Buyers - PAGE 5 How to Make Your House Easier to Buy
- Showings - PAGE 6 Showing Your Good Side
- Appraisals - PAGE 8 Your Home's Appraisal
- Negotiation – PAGE 8 The Art of Negotiating
- Expected Selling Time – PAGE 9 Time to Sell
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Help from your Listing Agent
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here are literally dozens of things that need to be considered, handled and resolved in the course of selling your home. Certainly that’s why you’ve engaged me as your professional real estate agent.
From placing your home on the market to signing the final closing papers, here's how I will help: Price and Prepare Your Home for sale Market to Other Agents Market to Potential Buyers Negotiate, Handle Paperwork and Close the Deal Prepare Your Home
I will help you prepare your home for sale. From offering advice on how to spiff-up your living space to helping you decide on your asking price, here are a few things you can expect from me. Comparative Market Analysis (CMA). I will generate a report that compares your home to the other homes currently being sold in your area. It may also show other homes that have sold recently, or expired from the market before selling. This data will help you and I decide together on the most realistic asking (or list) price for your home. Interior and exterior improvements. Your home should "smile a welcome" to prospective buyers. The exterior's curb appeal will get them in the door; the interior will seal the deal. I will tour your home with you, offering objective advice about which improvements that should or could be made. Market to Other Agents
I also know the value of spreading the word about your home to other agents. I will widen your audience of potential buyers using these techniques. Multiple Listing Service (MLS). The MLS lets real estate agents show and sell each other's listed properties as "cooperating brokers." It's an electronic database promoting large and small brokers' listings. The more agents who know your home is for sale, the faster it will likely to sell. Hot List I am able to quickly broadcast new listings within the real estate community, via computerized "hot sheets" that announce your home's arrival on the market. The faster agents and brokers know your home is for sale, the sooner their buyers will take a look.
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Lockbox I will provide an electronic key or numeric combination to open a door-hanger, which holds your house key. Agents will be able to show prospective buyers your home, even when you're not there. If you're away from home a lot, or if you're house is off the beaten path, this is a great convenience. Market to Potential Buyers
For every home, there's a buyer. Let me connect you to "the one" with these tactics. Yard Sign Yard signs are an awareness-generating tool, notifying neighbors and drive-by buyers that your home is for sale. Web Listing The Internet is a popular choice for home "shoppers." Nationally, more than 80 percent of people in the market for a new home use it. It's especially valuable for people relocating to your area. I will provide you with real-time listings, online open houses and plenty of photos that showcase your home to Web surfers. Plus I guarantee that your property will be promoted on multiple Web sites. Community Newspaper Ads Though not as widely used as in the past, I will advertise your home in the real estate pages of your local newspaper. Home Book or Magazine Free of charge and available just about everywhere that potential buyers shop, home books are another popular marketing tool among sellers (not to mention a very useful catalog when you're buying you're next home). Showings Our office will set up showings to accommodate the schedules of qualified buyers and their agents – without inconveniencing you and your family. Direct Mail Promotional postcards and other written materials about your home can be sent to targeted market areas and the potential home buyers who live there. Close the Deal
It may seem ceremonial, but closing the deal is often the hardest part of a real estate transaction. I will start working for you even before the final sale. Qualification/Pre-Screening. Prospective buyers visiting your home should be financially able to purchase it. I will work with the buyer's agent to assure that all the people who make an offer on your home provide either a pre-qualification letter (or more complete pre-approval) by a qualified lender. Evaluating and Negotiating the Offer. It takes a certain finesse to navigate the ins and outs of a buyer's offer. Is the offer acceptable? What closing date works for you? Helping in shaping your decisions is why you'll want a me, an objective professional as your partner.
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Contract Acceptance. Buying a home is one of the biggest decisions of your life. Rely on the guidance and objectivity of a trusted professional is important. As your listing agent, I can make sure that details are remembered and your interests protected. Legal and Other Documents. A real estate transaction can involve listing and purchase agreements, multiple disclosure statements, addenda, amendments and contingencies. Do you work with real estate-related legal documents every day? I do. Rely on my familiarity with the language, timelines and requirements that lie within these legal documents. Dispute Resolution. Even the smoothest, simplest real estate transaction involves two parties, with needs and objectives that may differ. As your agent, I can provide skilled negotiation and mediation and conflict resolution. Let me deal with the sticking points that can sometimes offend a seller. Facilitate Closing. The old adage, "the devil is in the details," is no less true at closing. Once you've accepted an offer on your home, I will work quietly and efficiently to keep things moving smoothly and according to plan. Broker, lender or title examiner. Everyone needs paperwork, signatures, verifications and certifications. From opening escrow to title transfer, it's another area where the I can make the difference. Pre-sale Repairs and Upgrades. Got a leaky roof that requires a certification? Or perhaps you've agreed to remove an unsightly tree stump. I can remind you to fulfill your obligation in a timely fashion to prevent breach of contract. Title Services. Creditors' claims, undisclosed heirs and mistakes in public records. These are issues that could stall your closing. Working with the Title Company is another benefit of working with me. Contingency Resolution. Contractual contingencies are terms that must be met before an agreement is binding. The written contingency, therefore, must also be removed in writing, by a specified date, before the contract can be fully in effect. Whether it's financing, inspection or any other item your agreement is subject to, I can assist you in understanding and fulfilling these contractual conditions.
Your Home’s Value Priced to Sell, Not Sit
Being carried over the threshold. Baking cookies with the kids. Every holiday for the past eight years. Start counting the memories created in your home, and it may be hard for you set a realistic list price.
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The actual value of your home, however, isn't decided on the priceless value of cherished memories; it's determined by the market. Market value is the amount that prospective buyers are willing to pay at the time you're ready to sell. The best way to judge market value and ensure you get the best price is to obtain a Comparable Market Analysis (CMA) from me. This analysis of homes in your area includes those that are currently on the market, expired from the market, pending a sale or already sold. Of course the best indicator of your home's value is the sale price for similar homes in your area that have already sold. The comparison is based on several factors, including the proximity to your home and the similarity of characteristics, such as lot size, square footage and number of bedrooms and baths. Since the goal is to obtain a balanced market view, you and I will look at four basic groups: Current listings to identify "the competition." Recently sold homes to indicate what buyers are willing to pay. Homes with a sale pending to point to current demand for this type of home. Expired homes to suggest what buyers are unwilling to pay. While I will help you make sure you are taking into consideration the most appropriate details, be sure to avoid the urge to price your home based upon considerations that don't affect market value, such as: How much money you need to purchase your next home. How much you paid for your home. How much you paid for home improvements. The value of a similar home in a different community. Area appreciation statistics. The cost to build the same home today. Personal attachment.
Providing More For Buyers How to Make Your House Easier to Buy
With so many tools and information sources available, the homebuyer is even more sophisticated and demanding than ever. In addition to wanting to know everything about your home. Such information is actually a powerful sales tool for you! By making it easy for buyers to learn everything there is about your home, you can actually influence the sale. Working with me will help ensure that these details are wellmarketed to potential buyers. You should also be sure to share any key information about your home with me. I can use it to more effectively and efficiently market – and sell –
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your home. I provide as much information about your home as possible – on the Web. Time-starved home buyers like to use the Web as a convenient way to hasten the home search process. Oftentimes, it's the homes that are marketed online, with the most information, photos and details, that sell the fastest and for top dollar. Here's a sample of the kinds of information you may wish to make available to potential buyers: Fixtures or furnishings you plan to include in the sale of your home, including draperies, blinds, and appliances. Warranty information on appliances that go with the house. Records of maintenance costs, such as utilities (especially budgets), property taxes, insurance, and trash/recycling pick up. Homeowners' (or condo) association bylaws, financial statements, maintenance fees, and special assessments. Here's a list of information I will prepare to make available online: Multiple photos of your home (inside and out, showing your home's best features) A brief description of your home's best features Mapping tools to show your home's location Home details including parking, number of bedrooms, bathrooms, etc. Contact information for me, so interested buyers can schedule showings online
Showings Showing Your Good Side
Who doesn't want their home to look their best for company? And while prospective buyers aren't "company" per se, they are VIPs. So naturally you'll want to show them your home in its very best light. Presenting your home is an important part of the selling process. Not to be confused with marketing your home, showings are simple, but effective tools for giving interested buyers a closer look. Showings
A showing is a scheduled appointment that gives a potential buyer the opportunity to tour your home. For security reasons, never show your home to people who knock on your door or meet you on the street. All showing will be by appointment and let the agents be present during the home showing. You, however, should not be present. Find something to do away from your home during the time of the showing. The presence of an owner makes some buyers uncomfortable and they tend to hurry or fail to ask questions. And because traffic congestion and other factors can throw off the appointment
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time by several minutes, it's best to leave a bit before the appointed time. Allow some extra time before returning home, too. If you must remain, be courteous and inconspicuous, and avoid conversation. The buyer's agent knows what the buyer is looking for, so let him/her discuss your home's features and answer any questions. If a questions is asked of you, it is best to simple refer them to me. The marketing difference
Different than showings, marketing (which will be taken care of by me) is a strategy designed to inform as many people as possible about your home. I can create maximum exposure for your home through our Web site, home books and other marketing tools. This unique combination of services means your home is actively marketed every single day until it's sold. That's our service guarantee. And because 80 percent of home buyers use the Internet in their search for their next home, you should work with me; one who will showcase your home online, using loads of information and feature details, as well as plenty of photos. That way, online shoppers can have a virtual preview of your home before taking an inperson tour. Being ready
I will give you as much advance notice as possible when a prospective buyer wants to view your home. Similarly, other agents who are part of the Multiple Listing Service (MLS) will make appointments through my office. However, it's best to ensure that your home is ready to show at all times. You don't want to turn away a potential buyer simply because you're under prepared! Before each showing, you'll want to: Make sure home is in clean & orderly and all valuables have been secured. Turn on all lights, even during the daytime, including outside entrance, closet, basement and attic lights. In addition, open all drapes and blinds. Turn off the television, stereo and radio. (Easy listening music is okay). Make sure agent sign-in sheet & information sheets are in place. Place pets in an fenced area of the yard, take them with you or ask friends to keep them since some people are allergic to or afraid of animals. Repair any damage caused by pets and check for pet odor. Display an arrangement of fresh flowers, hang decorative hand towels in the bathroom and place an attractive tablecloth on the dining room table. (The point is to present your home so that potential buyers can easily imagine themselves living there.) Clean windows and mirrors.
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Clean the kitchen and bathrooms. In the event a potential buyer drops by unannounced and unaccompanied by an agent, it is best not to show your home. Ask for his/her name and phone number. Inform the person that you'll give their information to your listing agent for follow up. Your agent is trained to screen interested buyers so you don't waste time showing your home to someone who's not qualified to purchase it.
Appraisals Your Home's Appraisal
Listing your home at the right price is crucial to its eventual sale, and relying on the knowledge and experience your agent will help you determine exactly what that price should be. As your agent I will provide you with a Comparative Market Analysis (CMA) to show you where your home fits in with other, similar homes in your area. Then I will help you set a fair price that is in line with the market value. An appraisal is simply a opinion of value determined by a licensed appraiser. It focuses on value (an estimation of the benefits of owning a particular home) and on price (the actual amount of money a buyer will pay). The buyer typically arranges and pays for the appraisal, but only after you've accepted and negotiated their offer. When you put your home up for sale, prospective buyers (and the lenders who hold or insure their mortgages) expect that your home is worth your asking price. An appraisal for less than the asking price can complicate, or perhaps block, the sale without further negotiations.
Negotiation The Art of Negotiating
Only an artful negotiator can take two sides with opposing interests and bring them to consensus. No formula can be applied to the process; no scientific equation can bring it about. And the back-and-forth communication that is negotiating is a huge part of the home buying and selling process. A favorable negotiation involves me working with the buyer's agent to arrive at an agreement on price, and terms and conditions. As with any bargaining session, the discussion can get bogged down; but as professional, I know how to avert problems. It's about working through, around and over any potential sticking points to bring the talks to
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a mutually satisfying conclusion. More than one buyer has rescinded an offer in the negotiation process, so it's best not to tackle this oh-so-important business dealing without the help of a skillful negotiator. When you have me as your listing agent, you have a guide who will understand your concerns, expectations and needs – not only in negotiation, but throughout the entire home-buying process. I will be able to negotiate on your behalf; after all, at stake is your best interest and your peace of mind in knowing that your home was sold at its best value.
Expected Selling Time Time to Sell
It's a fact. Your home will attract the most excitement and attention when it's first listed. And all the buzz simply increases your chance for a quick sale. However, nobody can promise when your house will sell. It could be one day, two weeks, three months – or longer. Some of it depends on these factors: local and national economic factors market conditions the number of comparable homes for sale in your area whether or not people are buying new homes, existing homes, or none at all Any or all of these factors can speed up (or slow down) the sale of your home. So ... want to know a secret for selling your home faster? Here are three! Make it look good. Price it right. Market it well. Make it look good
Ever see a food commercial that just makes you drool? It looks so good. Presentation, they say, is everything. And so it is with your home. The more appetizing it is, the more likely buyers will bite. As your agent I will have some do-it-yourself tips for making your home look – and show great. Price it right
Buyers purchase homes at market value–not above it. Price your home at market value and you're likely to see more prospects, which increases your chance for a sale. Let me price it right – from the beginning. Market it well
Reduce the time to sell with proper marketing. Innovative, effective marketing is crucial to improving your sell time.
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To reach the most possible buyers, as a good agent, I will advertise your home across many different and relevant venues, going far beyond traditional methods like print advertising to proven-effective venues like the Web and direct mail. With 80 percent of home buyers online, you'll want to be sure you're working with an agent who uses the Internet to sell your home; otherwise, you'll be missing out on a lot of buyers! Marketing is so much more than advertising. It's a complex process that's a little of both art and science. Having technologies and ideas is one thing; knowing how and when to use them is another.
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