Looking to Sell?
Seller’s Guide
S e l l i n g y o u r h o m e h a s l o n g b e e n c o n s i d e r e d a s t r e s s f u l p r o c e s s a n d w e w o r k t o
c h a n g e t h a t e v e r y d a y. Fr o m l i s t i n g t o c l o s e , r e d i s c o v e r t h e f u n a n d e x c i t e m e n t o f r e a l e s t a t e w i t h u s . Yo u r E l e g r a n a d v i s o r i s a t r u s t w o r t h y g u i d e t o s t r e a m l i n e
t h e e x p e r i e n c e , f r o m t h e d e c i s i o n t o m o v e a l l t h e w a y t o t h e c l o s i n g t a b l e a n d b e y o n d T h i s g u i d e w i l l h e l p y o u m a k e a p l a n a n d a c h i e v e y o u r g o a l s
1. Find an Advisor
2. The Forbes Advantage
3. Elevate Your Listing
5. The Forbes Advantage (Continued)
6. Listing Your Property
7. The Sellers Path to Closing
8. Glossary C O N T E N T S
Find an Advisor
F I N D T HE R I G HT P A R T N E R F O R Y O U
Deciding to sell is the first stop in your journey that is best undertaken with a partner that will guide you every step of the way An Elegran Advisor (Licensed Real Estate Salesperson) has the knowledge and experience to put your property in front of highly qualified buyers
It's crucial to choose an advisor whose personal and professional values match your own. Since you'll be working closely together for an extended period, it's important to conduct a bit of research and ask some direct questions
ELEGRAN ADVISORS HAVE THE EXPERIENCE, MARKET KNOWLEDGE AND ACCESS TO DATA THAT HELPS YOU MAKE INFORMED DECISIONS THROUGH THE OFFER AND NEGOTIATION PROCESS Q U E S T I O N S T O A S K
WHAT IS YOUR COMMUNICATION STYLE?
HOW WILL YOU DETERMINE THE LIST PRICE?
HOW OFTEN WILL WE BE TALKING?
WHAT IS YOUR MARKETING PLAN?
WHAT HAPPENS AFTER A LISTING AGREEMENT IS SIGNED?
The Forbes Advantage
Forbes Global Properties is a robust resource for luxury home buyers and sellers—a curated consumer marketplace that connects discerning buyers directly to the world’s finest homes and the top-tier agents that represent them
INDUSTRY SHARE OF VOICE
Forbes / Forbes Global Properties
Berkshire Hathaway / BHHS / Warren Buffet
Sotheby’s / Sotheby’s Int. Real Estate
Christie’s / Christie’s Int. Real Estate
Coldwell Banker
Savills
Knight Frank
Engel & Völkers
W H AT I S F OR B E S GL O B A L P
S ?
Established in 2020 as a showcase of luxury homes and an invitation-only association of real estate experts, Forbes Global Properties™ is the real estate partner of Forbes, one of the world’s most trusted media brands. Leveraging Forbes’ audience and worldwide reach, Forbes Global Properties introduces discerning buyers, sellers, and real estate aficionados to a curated collection of coveted homes around the globe
W H AT S
No other luxury real estate platform has the same international reach of media power as Forbes A broker-owned, broker-led organization, membership in Forbes Global Properties is reserved for only the most distinguished brokerage firms. The invitation-only network spans more than 600 locations and comprises approximately 19,000 luxury property experts across 25 countries including the U.S., Asia, Australia, Canada, the Caribbean, Mexico, the Middle East, New Zealand, and Europe
Elevate Your Listing
Elegran’s collaboration with Forbes Global Properties has revolutionized our business Within just one year we’ve doubled the number of sales listings and the average sale price. This transformation is not just about numbers - it’s about reaching an audience that appreciates quality, luxury, and exclusivity
Associating your property with the Forbes brand immediately lends it a level of prestige and trustworthiness Potential buyers recognize this, and are more inclined to explore and invest. U
The Forbes name carries weight. As an established powerhouse in the media world, Forbes can project your listing across continents, ensuring that it gets unparalleled visibility
It’s not just about reaching more people, it’s about reaching the right people Through Forbes and Forbes Global Properties, your listing will be directly presented to a curated audience of highnet-worth individuals, who are actively seeking luxury properties.
E L E G R A N ’ S C O M M I T M E N T
While the collaboration with Forbes Global Properties is an important part of our strategy, it’s our dedicated team at Elegran that ensures your listing is positioned, presented, and promoted in the best possible manner. P
E X P E R T I S E :
With years of experience in luxury real estate, our team understands the nuances of the market and the desires of discerning buyers
C H :
Every property is unique We pride ourselves on crafting bespoke marketing strategies for each listing, ensuring that its unique features are highlighted.
From professional photography to meticulously crafted descriptions, and from targeted advertising campaigns to personal showings, we ensure the entire process is seamless for both the seller and potential buyers.
By listing with Elegran, and leveraging the unparalleled advantages of Forbes Global Properties, you’re not just putting a property on the market. You’re associating it with a legacy of luxury, trust, and excellence
The Forbes Advantage
WHY FORBES?
Curated showcase of approximately US $8 billion of the world’s finest homes at forbesglobalproperties com
Digital Ecosystem
High-impact page on forbes com where homes are presented to Forbes readers alongside engaging editorial and unique insights.
Curated articles written by top Forbes contributors on forbesglobalproperties com and forbes com tell the unique stories behind important homes for sale
Most Trusted Magazine in the US #1
150M Magazine Readership 5M Countries 80
Social Media Footprint 42M+
Engaging newsletters and curated social media content promote important properties
Elegant digital and print branding tools under the Forbes Global Properties brand help to present and position homes to potential affluent homebuyers.
Premier advertising opportunities in Forbes digital and print publications, strategically targeted to reach qualified prospects.
Sources: Google Analytics, December 2021; MRI Doublebase 2021; GfK MRI Starch YTD 2021, Average (January-No-vember); MRI-Simmons, Fall 2019, Updated June 2022. Forbes Global Properties® is a registered trademark used under license.
Powerful consumer analytics and tools that help agents to pinpoint, engage, and target prospective home buyers. 5.
Listing Your Property
When your property is about to enter the market, it’s essential to prepare for the various scenarios that can unfold on the path to securing a signed contract. Whether your listing garners multiple offers swiftly or takes some time to gain traction following numerous showings, an Elegran advisor can be a valuable ally, providing essential guidance during critical moments of the sales process
M A R K E T IN G Y O U R P R OP E R T Y
Elegran provides global exposure for your home Elegran’s established syndication network ensure your listing appears in publications, and website where buyers are searching Your listing will be marketed to an entire NYC brokerage community of more than 20,000 agents
O F F E R E V A L U AT I O N
Once potential buyers submit their offers and demonstrate their financial qualifications to purchase your property, your advisor will assist you in evaluating which offers are worth accepting, countering or ultimately declining. (The right offer for you may not always be the highest offer.)
E X P E R TN E G O T I AT I O N
While determining the selling price for your property, you may need to discuss and reach consensus on several other aspects before finalizing a signed contract. Negotiation on matters such as repairs, furnishings, fixtures, and responsibilities related to fees and taxes during the closing process
The Seller’s Path to Closing
Glossary
Appraisal
An estimate of the fair market value of a home, delivered by an unbiased third party.
Back-to-back Escrow
That an owner makes to oversee the sale of one property and the purchase of another at the same time.
Capital
The sum of a buyer’s savings, investments or assets.
Closing Costs
Taxes and fees that sellers must pay upon signing a mortgage and taking possession of a property.
Commission
In exchange for brokerage services, sellers pay a percentage of the property’s sales price at the closing table.
CO-OP Shareholder
Owner of a co-op unit, since what they are actually purchasing are share of stock in the co-op corporation.
Escrow
The sellers attorney will hold money (typically a 10% deposit) in an escrow account to secure the sale until the transaction is complete.
Exclusivity
An exclusive right-to-sell listing agreement specifies that the selected agent has the sole right to list, market and sell your property for the duration of the agreement.
Financial Statement
A formal written record of a buyer’s financial activities, including their assets, debts and liabilities.
Flip Tax
A transfer fee, payable by the seller or buyer to the building upon the sale of an apartment.
Inspection
A careful examination of the property and related documents by a licensed inspector.
Lender
A person or company that manages loans for real estate purchases.
Lien Search
A background check on the property and the seller to ensure there are no outstanding debts or claims upon the property.
Maintenance Fee
Fees paid by co-op shareholders that contribute to building operations.
Market Value
Theoretically, the highest price a buyer would pay and the lowest price a seller would accept.
Marketing Plan
A plan that highlights what marketing strategies (photography outreach, staging, etc.) will be implemented.
Mortgage
A legal agreement by which a bank or other creditor lends money (at interest) in exchange for the title of a debtor’s property.
Staging
Styling/furnishing a property for sale to enhance its appeal.
Transfer Tax
A tax imposed when the title of a property changes hands from one entity or individual to another.
