The Steps to Effectively Market and Sell a Property
The Steps to Effectively Market and Sell a Property
STEP EIGHT
Need advice on what it takes to sell a home in Santa Fe? Effectively putting your property on the market and creating a great sale is all about the details. Once your property is listed with the Neil Lyon Group, what happens? Quite a bit, as you will see. Please read on.
At the time a property goes “under contract” we enter a new and critical phase of the selling process.
tion, we handle the buyer’s pre-closing walk through, we assist with the transfer of utility accounts and we will be with the owner at the closing table to provide the support that will be needed in the 11th hour and to be a resource when last minute questions arise.
● The Contract Checklist:
● Extraordinary Expertise:
The purchase agreement
NEIL LYON, CRB, CRS, GRI FOUNDER
505 660-8600 cell 505 954-5505 office neil@neillyon.com MATT DESMOND ASSOCIATE BROKER
Contracts are long and complex. The standard purchase contract is currently 16 pages and accompanied by as many as 40 pages of disclosures and other related documents. To make the process of monitoring the contingencies (usually 5 or more) and their related time frames manageable, we promptly produce a contract checklist that summarizes every contingency and important detail in the contract and the related deadlines. This provides a practical tool that the owner can use to monitor the escrow process. We send the summary to all involved parties so that everyone can keep abreast of the many details that will be handled as the transaction moves to closing.
More often than not, the hardest work begins once the purchase contract is executed and the escrow process begins. As a team that handles upwards of 30 to 50 transactions a year, we have seen just about anything that an owner can imagine and many things they cannot. Our job is to manage the complicated process from start to finish, which gives us great satisfaction and is the reason why hundreds of property owners and buyers wouldn’t work with any one other than the Neil Lyon Group.
505 670-1289 cell matt@neillyon.com STEPHANIE HAMILTON ASSOCIATE BROKER
505 603-1918 cell stephanie @ neillyon.com NINA FARANA OPERATIONS MANAGER
505 954-5522 nina @neillyon.com DONALD BURG MARKETING AND DESIGN DIRECTOR
505 988-2533 donald@neillyon.com CINDY LYON ASSOCIATE BROKER
● Constant Contact:
The NLG Operations Manager also delivers weekly updates to owners to highlight upcoming milestones as the escrow process moves forward. There will be appointments to manage that will include inspectors, appraisers, insurers, the buyers or those engaged by the buyers, in-laws, siblings of the buyers, contractors, architects, surveyors, well and septic inspectors (when applicable) and a host of others who are involved and will request access to the property.
505 660-8400 cindy@neillyon.com DEBBIE CRAWFORD ASSOCIATE BROKER
505 216-8571 debbie@neillyon.com
SANTA FE BROKERAGE
326 Grant Avenue Santa Fe, NM 87501 505 988-2533 sothebyshomes.com
● Bringing the Transaction to Closure:
As contingencies are satisfied and waived, we get closer to the anticipated end of the escrow process. We make sure the closing statement is correct, we assist with the buyer’s re-inspec-
4
STEP ONE
STEP THREE
Meet with the owner
Prepare and collect needed documents
● To
understand the circumstances driving the desire to sell: Reason(s), timing, possible broker referral in the destination market, and other important considerations. ● To
thoroughly view the property and understand it’s major attributes in order to determine its value and recommend the most effective listing price. ● To
gather information about the home for marketing and advertising: its history, construction details, past repairs and renovations and what aspects of the property have been the most important to the owners. ● Prepping
the property for the best possible sale. To determine if a “pre-marketing inspection” would be beneficial or necessary, and if any work is required to prepare the property for the market. STEP TWO
Determine the market value and recommend the most effective listing price ● We
review recent and relevant sales and make needed adjustments on the most relevant sales to zero in on the property’s expected market value. ● We
determine which currently available properties represent competition to the property and how those properties impact our listing price recommendation. neillyon.com
MARCH 2020
● Sotheby’s International Realty (SIR)
Listing Documents: They include the Listing Agreement, the Neil Lyon Group Performance Guarantee Amendment, the Property Data Form, the Waiver of MLS Benefits, the Seller’s Property Disclosure Statement and Lead-Based Paint documents (if the house was constructed prior to 1978 or if the exact construction date isn’t known but prior to 1978 is likely). ● Owners’ Documentation:
In addition to obtaining the documents required by SIR, most owners possess important documents that can be useful to the sales and marketing process. If available, we’ll want a set of house plans or an accurate floor plan, a property survey or site plan, a past title insurance policy (which could reduce the cost to the seller when a new title insurance policy is issued for the next owner), and a well-drilling record and/or septic permit, if the property has a water well or septic system. If applicable to the property, we’ll want a well-sharing agreement, a road maintenance agreement, and a complete summary of past repairs and renovations that have been completed during the ownership of the property. Any information that can be provided regarding the roof warranty (whether it is transferable and, if so, how to complete the transfer), will serve to expedite your transaction. ● Title Commitment and Record-
ed Documents: We will contact our preferred title company and order a neillyon.com
title insurance commitment and the recorded documents. If the commitment reveals issues of concern, we can address these issues early in the marketing process to avoid the impact of their presence on a possible sale. Timeliness in dealing with title issues can be the difference between a closing that is right on schedule, or a delayed closing or contract termination. STEP FOUR
The three initial marketing tools ● Photos: After
we receive the executed listing documents, we will engage one of our professional photographers to produce over 35 interior and exterior photos of the property. We typically have the images within 7-10 days. ● A Matterport 3-D Virtual Tour: will
be filmed within the same time frame. This process requires that the property is staged and camera-ready and that only the videographer is present at the time of filming (2-5 hours depending on the size of the home and the number of levels). Our videographer will then edit and produce the film so that within 24 hours it is ready to be posted to our Matterport-ready websites. ●A
Color Luxury Brochure: The NLG Marketing Specialist will visit the property to experience the environment and collect first-hand information for the text and to create an extensive list of property features. This will be combined with images selected from the photographs to produce a 4-page brochure.