Jennifer Sarkissian, Seller's Guide

LOIS SCHNEIDER REALTOR

Seller’s Guide

BY JENNIFER SARKISSIAN

PRESENTED

the way to closing.

Uncompromising personal service, integrity and expertise are at the core of Lois Schneider Realtor’s philosophy. We are consummate professionals at addressing every aspect of selling your home. From providing a Comparative Market Analysis and correct pricing based on market conditions, to savvy negotiations and expert advice on all aspects regarding the sale of your home, we are dedicated to supporting our clients every step of the way to a successful outcome.

Step 5: Marketing Your Home

• LSR’s graphics and marketing department will arrange for professional photography, floor plan, and print and digital brochures.

• Your marketing plan will include maximum internet exposure, social media presence and promotion through our vast Leading Real Estate Companies of the World network in addition to our local multiple listing service and Realtor relationships.

Step 6: Showings & Open Houses

Step 2: Preparing Your Home First impressions count. Buyers look for a home that is clean and well maintained.

• Invest in updates, repairs and a fresh coat of paint, where needed.

In this Seller’s Guide, you will find in-depth information about each of the 9 essential steps to sell your home.

Step 1: Selecting a Realtor

• Choose an experienced Realtor with deep local market knowledge, excellent client service and negotiation skills, and strong relationships with fellow local agents.

• Share issues or concerns with your Realtor from the start. Early communication and full disclosure will ensure that you are working as a team.

• Neutralize, declutter and depersonalize.

• Consider a professional stager.

Step 3: Pricing Your Home

• Your Realtor will provide a customized Comparative Market Analysis to help determine the most advantageous pricing strategy for your home.

• Proper pricing captures a higher selling price.

• Overpricing reduces the selling price.

Step 4: Complete Listing Paperwork

• Your Realtor will guide you through all necessary listing contracts and disclosures.

• Your Realtor will arrange for private showings, Realtor and public open houses, and provide feedback from buyers and other Realtors.

Step 7: Offers

• Your Realtor will help you evaluate a buyer’s offer, explain the real estate contract, and negotiate the best possible price and terms for your home.

• Attorney review will take place once you and your buyer have agreed to terms and signed the contract.

Step 8: Under Contract

• Your Realtor will guide you through home inspections, appraisal, title search, a certificate of occupancy and a final walk-through during the “Under Contract” period.

Step 9: Closing

• Included in the Seller’s Guide is a list of closing costs and a moving checklist to help guide you through the final stages of selling your home.

We are with you every step... all

JENNIFER SARKISSIAN

Professional Accomplishments

• Summit area Realtor since 2017 and formerly licensed with Keller Williams and Berkshire Hathaway HomeServices

• 2021 Leading Edge Society Winner

• Consistent Top Producer

• Owned and operated a successful high-end Swiss luxury distribution company since 2006, currently on the Advisory Board

• Held several top management positions in Communications and Finance at the World Gold Council, AT&T International, Citibank and Capital Private Bank

• Graduate, REALTOR® Institute (GRI)

• Member North Central Jersey Association of Realtors

• Member National Association of Realtors

• Member of Garden State Multiple Listing Service

• Licensed Real Estate Associate in New Jersey and Florida

• BA Communications - The Pennsylvania State University

• Post-graduate classes - Harvard University

• Speaks fluently French

Personal Information/Community Service and Involvement

• Summit resident since 2010 with her husband, three children and three dogs

• Family Promise Homeless Shelter Coordinator for Our Lady of Peace

• Food Pantry Volunteer

• Newark Academy Parents Association

• Newark Academy 1774 Sandwich Initiative, Volunteer

• St. John’s Soup Kitchen, Volunteer

• Thanksgiving Food Drive, Volunteer

• Newark Thirteenth Avenue School, Organizer Annual Coat Drive

• Pickleball champ and mother to a NJ ranked Cross Country/Basketball player

• Loves all things turquoise, working dogs, vintage cars, and amazing watches

Testimonial

“Jennifer was amazing since the moment we met her. She has a lovely personality, was super helpful through the process and made the whole transaction fast and easy. Jennifer never missed a call or text and always made sure to keep us informed of the process and next steps.”

Jennifer Sarkissian, GRI Sales Associate

mobile: 724.989.5191

office: 908.277.1398

Email: jsarkissian@lsrnj.com

PREPARING YOUR HOME

First impressions count. A small investment in time and money will give your home an edge over competitive listings. Below are some suggestions that will help you get top market value.

THE FIRST IMPRESSION

‰ Make sure your doorbell works

‰ Polish door hardware

‰ Be sure house number is visible

‰ Paint door & threshold step

‰ Buy a fresh doormat

‰ Sweep front porch

‰ Put pots of fresh flowers on porch

‰ Clear walk & driveway of leaves

‰ Remove pet & cooking odors

SPICK & SPAN

‰ Clean carpets, vents & fans

‰ Clean fridge & stove

‰ Make baths & kitchen sparkle

‰ Wash marks off walls

‰ Refinish wood floors, if needed

‰ Powerwash exterior & walkways

‰ Shampoo carpets

‰ Remove upholstery stains

GENERAL MAINTENANCE

‰ Clean & repair windows

‰ Replace burned out light bulbs

‰ Tighten door knobs

‰ Touch up & repair cracked walls

‰ Repair leaking taps & toilets

‰ Regrout baths

‰ Reseal the driveway

‰ Clean yard of any evidence of pets

CURB APPEAL

‰ Mow lawn, mulch beds

‰ Seasonal flowers

‰ Trim shrubs & bushes

‰ Weed & edge garden

‰ Pick up any litter

‰ Repair & clean gutters & leaves

‰ Touch up exterior paint

‰ In winter, clear snow & salt walks

‰ Remove dead plants

NEUTRALIZE, DECLUTTER, DEPERSONALIZE

‰ Consider hiring a professional stager

‰ Declutter the whole house

‰ Clear stairs & halls

‰ Store excess furniture

‰ Clear counters & stove

‰ Make closets neat & tidy

‰ Clean out garage & basement

‰ Organize & store toys

‰ Repaint interior in neutral colors

‰ Replace dated hardware & light fixtures

‰ Remove personal photographs

STRATEGIC STEPS IN PREPARING YOUR HOME CAN MAKE ALL THE DIFFERENCE

Your LSR agent will recommend repairs, cleaning and staging that can help you get the best possible offer for your home. We offer a comprehensive list of preferred vendors in our Resource Guide. In the Guide, you will find our recommendations for the following and more:

Carpet Cleaners

Cleaning – Exterior

Cleaning – Interior

Dumpster Rental

Estate Sales

Staging

Floor Refinishing

Gutter Cleaning

Handyman

Hauling

Home Inspectors

Home Stagers

Landscapers

Painters

Paving

Window Cleaning

Staging has proven to have a powerful positive impact on the sale of your home. Your LSR agent and/or a professional home stager works within your time frame and budget to prepare your home for sale so that it sells in the fastest time period and at the best price.

Some nationwide statistics that show the power of staging include*:

• 86% of buyers can better visualize their future home when the house is staged.

• Staged properties sell 6-10 times faster than non-staged properties.

• Staged homes sold on average $40,000 over list price.

• Most important rooms to stage: living room, primary bedroom and kitchen.

• Worried about the cost? Staging pays for itself. The average staging investment of 1.3% of listing price resulted in a 7.1% over-list return on investment.

97% of buyers view a home online first and usually on a mobile device. You have about 8 seconds to grab their attention to slow them down to look more closely at your home. Staging ensures that your property appeals to the most people possible both online and in person!

* Sources: National Association of Realtors (2022, 2023), REALTOR Magazine (2022) and Real Estate Staging Association (2022)

COMPARATIVE MARKET ANALYSIS

Your LSR agent will use a Comparative Market Analysis (CMA) and his/ her experience in the market to determine the best pricing strategy for your home. A CMA looks at recently sold homes in your market and uses the data to determine a suggested list price in order to attract the most buyers and highest offers.

A CMA compares homes that are similar to yours in terms of size, age, number of bedrooms and baths, and condition. Some of the other factors that determine list price are:

• Layout and floor plan

• Updates - kitchen and bath renovations

• Home office space

• Size and usability of the property

• Outside features - deck, patio, porch, pool

• Basement - finished or unfinished, walk out

• Garage - number of bays, detached or attached

• Age of systems - heating, cooling, hot water heaters

• Special energy systems - fireplaces, double glazed windows, solar

• Age/condition of roof

• Distance to town, trains, schools

• Location - busy road or quiet neighborhood street

• School district

A CMA will also look at what homes are currently on the market in your neighborhood and price range so you can price your home advantageously. Additionally, your LSR agent will consider current market conditions and absorption rate.

CRITERIA THAT DETERMINE VALUE

LOCATION

Location is the greatest factor affecting value.

COMPETITION: ACTIVE INVENTORY

Buyers compare your property to other properties - active, under contract and recently sold - in the same price range and use these comparisons to determine an appropriate list price. A large inventory of homes provides greater competition and drives prices down while a small inventory creates a pent-up demand for homes and may push prices higher.

ECONOMIC ENVIRONMENT

Low interest rates and readily available mortgage financing enable more potential buyers to enter the marketplace. Economic trends such as rising, stable or declining markets affect buyers’ willingness to purchase. An optimistic economic forecast encourages consumer confidence, increasing buyer demand.

QUALITY, CONDITION, FEATURES & AMENITIES

Below are some common examples that DO NOT impact value:

A neighbor or friend’s opinion

What one paid for the property

What one needs or wants to net

The condition of your property will affect the speed of sale and the ultimate sales price. High quality workmanship and newer amenities contribute to the marketability of the property.

TERMS & MOTIVATION

Flexibility during negotiations, such as contract contingency dates, inspection requests and matching a buyer’s closing date are important considerations when selling your home.

PRICE

If the house is not properly priced from the outset, a sale may be delayed and the final price may be less.

The Importance of Intelligent Pricing

Correctly pricing your property at its market value will expose it to a much greater percentage of qualified buyers seeking a home in your price range, and increase your chances for a quicker sale.

Conversely, pricing your property over market value will reduce the percentage of qualified buyers, leading to a longer selling period and ultimately a lower selling price. The percentage of buyers increases even further when price drops below market value. The right price will bring the right buyer.

BENEFITS OF PROPER PRICING

Selling Price vs. Timing

Timing is extremely important in the real estate market. The graph illustrates the importance of placing your property on the market at a realistic price from the very beginning. A property attracts the most excitement and interest from the real estate community and potential buyers when it is first listed. Therefore, it has the highest chance to sell when it is new on the market.

More competition will result in the best possible price for your property in the shortest amount of time!

IF A HOUSE IS CORRECTLY PRICED FOR THE MARKET THERE SHOULD BE ONE OFFER FOR EVERY TEN SHOWINGS

• If your house is not being shown it means that buyers believe the price is too high for its location, condition and features.

RECOMMENDATION:

A significant price repositioning for the market.

• If your house is being shown, but there are no offers, it means that buyers are finding homes that they believe are a better value for the same price.

RECOMMENDATION:

A moderate price repositioning for the market.

• If your house is in the running, but the buyers buy something else, or if the buyers view the house a second time, but decide not to make an offer, it means we are close to the proper price.

RECOMMENDATION:

A minor price repositioning for the market.

Over improvement

Owner’s need for money

Original purchase price was too high

Lack of factual data

Seller does not need to move

Corporate relocation or buyout

According to the National Association of Realtors,

LISTING PAPERWORK

Prior to listing your home, you will need to fill out and sign the appropriate paperwork. Your LSR agent will go over the paperwork with you and answer any questions on the following documents:

• Exclusive Listing Agreement (if applicable)

• Garden State Multiple Listing Service Listing/Commission Agreement

• GSMLS Property Input Sheet

• Consumer Information Statement

• NJ Memorandum from the Attorney General regarding Housing Discrimination Laws

• Seller’s Disclosure

• Lead Paint Disclosure

• Internet Authorization

• Disclosure to withhold Name and Phone Number (if applicable)

• Dual Agency Consent Form (if applicable)

If possible, please provide a copy of the following to your LSR agent:

• Property Survey

• Condominium or Cooperative Documents (if applicable)

All of the listing paperwork can be completed in hard copies or electronically via our online transaction management system, Dotloop.

MARKETING PROPOSAL

Our award-winning, in-house Marketing Department, together with your LSR agent, will create a custom marketing plan personalized to your home and your goals.

Photography and Video

• Professional photography

• Videography

• Specialty photography as needed (drone, twilight shots)

• Interactive Floor Plan

• Virtual Tours

Print Marketing

• Custom brochure

• Detailed listing description

• Professional floor plan

Social Media

• Instagram

• Facebook

• YouTube

• Twitter

• LinkedIn

Real Estate Websites

• LoisSchneiderRealtor.com (LSRNJ.com)

• Zillow

• Realtor.com

• Trulia

• 100+ other websites,local and worldwide

Showings and Open Houses

• Realtor Open Houses

• Public Open Houses

• Private showings and feedback from showings

Our Network

• Leading Real Estate Companies of the World

• Luxury Portfolio International

• Who’s Who in Luxury Real Estate

• New York Metro Group

• Brown Harris Stevens Partnering Worldwide

• Email campaigns to NYC area Brokerages and Realtors

• Utilizing our personal, local real estate connections with other agents

MAXIMUM EXPOSURE ON THE MOST IMPORTANT WEBSITES

Thousands of viewers will find your home on hundreds of key real estate related websites that will ensure maximum exposure for your home.

We also take internet advertising to the next level through our special affiliation with our global partners: Who’s Who in Luxury Real Estate, Leading Real Estate Companies of the World® and Luxury Portfolio International. You will enjoy access to award-winning worldwide real estate websites that place your home front and center both locally and globally.

100+ real estate websites through syndication.

MARKETING SAMPLES

SOCIAL MEDIA

VIRTUAL TOURS

DIRECT MAIL

EMAIL MARKETING

DIGITAL ADVERTISING

INTERACTIVE FLOOR PLANS

PROPERTY VIDEO

HANDLING SHOWING REQUESTS

If you staged your home or prepared it well for photography, you should be in good shape for showings and open houses! Here are a few tips to keep in mind when you start to get requests to show your home:

Be Flexible

• Keep the house in “show-ready” condition.

• Be prepared to leave the house on short notice.

Leave For Showings

• Plan to leave the house at least 15 minutes before the appointment time and allow extra time before returning.

• Buyers need “space” to envision the house as their own.

• Buyers need to feel comfortable taking their time in the house and speaking freely with their agent and each other.

• Leave to avoid conversations with potential buyers that may hurt you.

• Allow your agent and the buyer’s agent to do the best job possible to sell your home.

Take Your Pets With You

• A pet-friendly home and property can be a great selling point, but pets can distract buyers from properly concentrating on your home.

• Avoid potential conflicts with buyers who are not comfortable with pets.

• Clean up pet waste, swiffer pet hair, put away toys, check for and remediate pet odors.

Light The Way

• Turn on ALL the lights in your home (yes, all).

• Check for burned out bulbs.

• Consider adding lamps in dark corners.

Check For Odors

• Avoid cooking strong-smelling foods in the days and hours before showings.

• Use candles and air fresheners judiciously –don’t overdo it!

• Remove litter boxes.

• Run kitchen and bathroom fans or open windows where necessary.

Keep It Cool (or Warm)!

• Make sure your home is at a comfortable temperature.

• Avoid rushing buyers out because they feel too hot or too cold.

• An excessively hot or cold home may cause buyers to question if the systems are working properly.

REALTOR OPEN HOUSES

Usually held Tuesdays or Thursdays between 11:00 am - 1:00 pm

• Allows for Realtors to preview your home and inform their clients

• LSR will advertise your Realtor Open House on the Garden State Multiple Listing Service and via e-blast to our network of thousands of local Realtors.

PUBLIC OPEN HOUSES

Usually held Saturdays and/or Sundays between 2:00 pm - 4:00 pm

• A great way to expose your home to potential buyers

• LSR will advertise your Open House on social media and many highly trafficked websites such as Zillow, Trulia, Realtor.com and LSRNJ.com

OPEN HOUSEpreparing for your

In addition to the suggestions for showing your home on the previous page, here are some last minute tips to prepare for your open house

‰ Sweep front walkway and shake out the door mat.

‰ Clean and put away the dishes.

‰ Clear and wipe down countertops and sinks in kitchen and bathrooms.

‰ Empty garbage cans.

‰ Check that the towels in the bathroom are clean, straightened, and matching.

‰ Close toilet lids.

‰ Make all the beds.

‰ Clean and put away laundry.

‰ Give the floors a quick sweep or vacuum.

‰ Tidy the closets.

‰ Throw all personal items in a basket and put in the back of your car.

‰ Secure or hide valuables and prescription medications.

‰ Turn on all the lights.

‰ Clean debris, tools or toys from the yard.

‰ Put cushions on patio furniture, remove grill cover and open patio umbrella.

‰ Check for odors and use air freshener if necessary (just a little).

WHEN A BUYER makes an offer

Negotiating the transaction can be the most complex part of selling your home. That’s why it’s important to have an ethical, experienced Realtor who can walk you through the many potential transaction scenarios you may encounter.

Offer Details

The buyer’s agent will present the following:

• A written contract including price, terms, and contingencies

• A mortgage pre-approval or proof of funds

• Signed Seller’s Disclosure and Lead Paint Disclosure, if applicable

Potential Responses

Accept the offer as-is

Reject the offer.

Counter-offer. You may make changes to the offer, such as adjustments on price, closing date, or contingencies and present this counter offer back to the buyer. The buyer may then choose to accept, reject or make another counter offer in response. The negotiations continue until the price and all terms of the contract are agreed upon by both parties.

Multiple Offers

In low inventory, high demand markets, you may receive more than one offer for your home. Your LSR agent will review your options for handling multiple offers, evaluating the strengths and weaknesses of each offer and responding in a fair and timely manner.

Offer Withdrawal

A buyer may withdraw their offer at any time up until the completion of attorney review, so timeliness is important when responding to an attractive offer.

Offer Acceptance

An offer is considered “accepted” once both parties have signed the contract. The Realtors send copies of the fully executed contract and other pertinent documents to the attorneys for both buyer and seller.

Attorney Review

Attorney review is usually a three-business day period when buyers and sellers have their real estate attorney review and modify the contract. Buyers and sellers can cancel the contract for any reason during attorney review. At the end of the review period, the revised contract becomes binding, and the property is considered “Under Contract.”

CONTRACT under

1. Your LSR agent and attorney will confirm that the buyer’s deposit is made in accordance with the dates on the contract.

2. The home inspection and other recommended inspections, such as wood-destroying insect inspection, radon inspection, sewer line inspection, chimney and roof inspections, mold inspection and an oil tank sweep are performed during the time frame allowed in the contract. These inspections are performed at the buyer’s expense.

3. After the home inspection, the buyer may request repairs or a credit for repairs through your attorney. Your LSR agent will assist with negotiations regarding the repairs or concessions required, and help arrange contractors.

4. The buyer’s lender will order an appraisal. Your LSR agent will assist the buyer’s agent to arrange for the mortgage appraiser to visit the property, provide a floor plan and comparable sales to the appraiser and be there to answer any questions.

5. Your LSR agent and your attorney will confirm that the buyer’s mortgage commitment is secured in accordance with the date on the contract.

6. Your LSR agent will assist with the application for the municipal Certificate of Occupancy and the inspections required, and help with any issues that may arise.

7. Your LSR agent will arrange for and attend the walk-through prior to closing. The buyer and their agent come to the house to make sure that everything is in the condition it was when they agreed to purchase the home, and that agreed-upon repairs have been made. Be sure to pay attention to the following before you leave your home for the last time to ensure that:

• No damage has occurred since the date the buyers agreed to purchase.

• All of the fixtures, appliances, mechanical items and utilities are in working order.

• Everything you agreed to include in the sale is still there.

• The house is clean.

• You are entirely moved out and have left behind no items that were not agreed upon in the contract.

ESTIMATEDseller closing costs

Seller closing costs in New Jersey are typically 6-7% of the purchase price. To help you budget, below you will find an approximate breakdown of closing costs. This is not an exhaustive list. Please check with your real estate attorney for more exact fees. These figures are based on estimates and will vary.

Realty Transfer Fee

Approximately 1% of the purchase price. (Calculator available at LSRNJ.com/seller-resources) : $

Inspection Costs

Home Inspection Repairs or Credits varies : $

Certificate of Occupancy $50 - $150 : $

Real Estate Commission

“Exit Tax” (if leaving New Jersey)

as per listing agreement : $

A 2% withholding to the state of New Jersey can apply if you are a non-resident and do not qualify under IRS regulations for the sale of your home. Check with your attorney. : $

Prorated Adjustments:

Either a charge or credit to adjust for payments made prior to and/or beyond the closing of title.

Property Taxes + - $ HOA Fees + - $ Water + - $

Assessments + - $ Sewer + - $ Heating Oil + - $

Total Prorated Adjustments + - $

Estimated Closing Costs: $

HOME SELLER’Schecklist

BEFORE LISTING

‰ Locate your survey, deed, copy of title insurance.

‰ Check with your town to make sure all your permits are closed out.

‰ Choose a local real estate attorney

‰ Prepare your home for the market - repairs, decluttering, painting, staging, cleaning.

‰ Determine list price, list date, showing instructions, dates for broker and public open houses.

‰ Complete listing paperwork and disclosures.

ON THE MARKET

‰ Keep your home in “showing ready” condition.

‰ Ask your LSR agent for feedback from showings and open houses and make adjustments if necessary.

‰ Work with your LSR agent to adjust marketing plan and pricing, if necessary.

‰ Be patient and flexible.

APPROACHING CLOSING DAY

‰ Work with your LSR agent to obtain a Certificate of Occupancy from your municipality.

‰ Make appointment with your attorney to sign all closing documents.

‰ Arrange for movers.

‰ Set up a final cleaning of the home.

‰ Gather warranties and manuals for appliances and household systems.

‰ Provide a list of service providers as a courtesy to your buyers – landscapers, plumbers, electricians, HVAC contractors, etc.

‰ Collect keys, garage door openers, and alarm codes for your new buyer.

‰ Notify the postal service of your new address.

‰ Transfer homeowners insurance to your new home.

‰ Contact utility companies and advise of shut off dates and new address, including phone and cable, water, gas and electric.