Steps to getting your home SOLD . . .
First, consider the reason you are putting your home on the market, reflecting on your needs,
priorities and timeframe. Do you need a larger home to accommodate a growing family? Are you
pursuing a job transfer out of the area? Is a particular school district important to you? Are
there financial considerations or family responsibilities involved? After answering the 'why,'
consider your timeframe. Generally, sellers want to sell as quickly as possible. But is there a
particular date by which you need to move?
As your partner in this venture, my commitment is to listen and understand exactly what
is most important to you in selling your home.
2. Consider the market. It is every seller's aim to sell as quickly as possible while getting
top dollar for their home. Does the current market support that? While earlier in 2012 and
before, this may have been a more difficult task, recent statistics in many north Atlanta
communities, particularly in certain price ranges, give reason for optimism. In fact, with
inventory low, homes in good condition and appropriately priced are not only selling quickly,
but many are soliciting multiple offers.
Without staying up to date on current relevant market conditions, specifically those pertinent
not only to Atlanta but the sub-market in your particular area, even the most extensive
marketing campaign will not get your home sold in a reasonable time, and certainly not for top
dollar. Both your pricing strategy and marketing plan must be based on an understanding of
the most current relevant market conditions. And those conditions, always fluid, must be
constantly monitored. Thus, while your plan needs to be implemented in a consistent and
focused manner, it must remain flexible enough to react to unexpected market changes.
Bottom line, don’t waste the first crucial few weeks that your home is new on the market. Be
pro-active. Learn your specific micro-market before that ‘For Sale’ sign goes in the ground.
With access to statistics and analyses of the most recent sales data from FMLS, my job
is to educate you and keep you updated with relevant information. This awareness of the
trends in a fluid market help us both to strategize to get your home sold within your
timeframe and with your priorities in mind.
3. Get your home ready for the market. Most of us don't live in a 'model' home. But the
buyers coming to see your home will see many other homes, including, perhaps, new
construction. Today's buyers have higher expectations than buyers of past years. And
since buying a home is likely the largest single purchase they will ever make, they will look
at many homes, comparing inventory before making an offer. They want to make sure their
money is buying them the most of what is important to them in a home. Visiting other
active listings in your neighborhood can give you a heads-up on what buyers are seeing
and an idea of how your home compares to its competition.
The basics of getting your home ready to sell include de-cluttering, a thorough cleaning,
needed repairs and staging. A professional stager can offer an objective eye and invaluable
advice as to how to present your home in the best possible light so that it lands on a buyer's
'short' list. That advice might include suggestions for furniture placement, lighting and
possible minor updates or painting. In some cases, the stager will provide actual décor to
supplement current furnishings or stage an entire vacant home. Remember, the condition of
your home is a significant factor in how quickly it sells and the price the buyer is willing to offer.
As your consultant, my goal is to help you present your home so that buyers will walk
in and say to themselves, "I have to have this house and I'm willing to pay for it!"
4. Price your home 'in the market.' This is where #2 above, i.e., understanding the current
market, is critical. It is also where you might reflect on #1, why you are selling. Homes sell
for market value. Simply put, market value is what is a buyer is willing to pay and a seller is
willing to accept. Market value is not what the home up the street sold for six months ago
or for what a Seller needs to get. In setting your initial list price, you should consider not
only what similar homes in your area have recently sold for, but how currently active listings
are priced. One set of data tells you what past buyers have been willing to pay. The other
tells you where your competition lies. A third analysis is that of those homes that have been
on the market and did not sell (have expired or been withdrawn from the market) and of
properties that are under contract. A study of these properties will give you an idea of what
list prices the market could not sustain and what prices solicited a successful negotiation. If
your home is particularly unique and there are not any real comparables, you might consider
hiring an appraiser for a pre-listing appraisal. Just remember. If you set your list price within
the market value range for comparable properties, you are increasing the likelihood that a
greater number of buyers will ask to view your home. The more showings, the greater the
likelihood of finding that perfect buyer in your timeframe.
My goal is provide you with both relevant data and the benefit of my pricing experience
so that together we may devise a pricing strategy that will get you the best offer within
the selling timeframe that is important to you. I will keep you updated with pertinent
changes in a fluid market during the listing period. With a pricing strategy and
professional staging, I will work with you to create a "Sellers' Market" around your
listing.
5. Marketing your home. If you chose to utilize the services of a Realtor®, your marketing
will be handled for you. However, not only should you be aware of your agent’s marketing
strategy, asking for follow-through and accountability, but your own participation is
important. Maintaining your home’s condition, making your home available for showings as
well as for open houses, agent caravans or to update photos is critical. Also, it is likely that
you possess an appreciation for assets and benefits of your home or neighborhood that
your agent, not actually living there, may not be aware or overlook. Say, the friendliness of
the neighborhood, the active Book Club or award-winning swim team. Don’t hesitate to
speak up about these things. The more you can help to portray a lifestyle and sense of
community to buyers, the more specific your agent’s marketing materials can be, targeting
as many groups of potential buyers as possible. You may also know about local bulletin
boards, networking groups, nearby businesses that allow flyers or have access to a
neighborhood newsletter in which space can be requested. Selling your home is a
partnership between you and your agent.
Targeted, aggressive, creative and continuous marketing is my commitment. Utilizing
the internet where the great majority of buyers first see the home they purchase is
critical, but there are many, many more opportunities to put your home in front of both
buyers and buyers' agents. (See 'Finding Your Buyer').
6. The Offer. It is a good idea to become familiar with the Purchase & Sale Agreement prior
to receiving an Offer from a potential buyer. The buyer will set a Time Limit, usually a very
short period, by which the Seller must either accept, reject or counter the Offer. A degree of
familiarity with the Agreement will help you respond without undue stress and preclude
potential oversights for terms that are important to you. The contract negotiation period
can be an unnerving time. But remember, though emotions may be involved on both the
buying and selling side, this is a business transaction.
I will provide you with the necessary documentation early in the process, reviewing
the content, answering questions, and consulting with other professionals when
beneficial to you. My experience in the negotiation of both real estate and other types
of contracts (See 'About Elaine') has ingrained in me a level of thoroughness and
commitment to delving for the underlying concerns and priorities of both parties. My
approach is calm and positive but, at the same time, firm and persistent. It has proven
successful in finalizing many mutually agreeable deals! Speak softly and know the
market!
7. Inspection/Due Diligence. If agreement is reached through the Offer/Counteroffer
process, the Agreement becomes 'Binding' and the Buyer and Seller are under contract.
Though the process from this point may vary, generally it goes like this. The date the
last party signs and delivers the last Counteroffer to the other party becomes the Binding
Agreement Date. This date serves as the beginning of the Inspection or Due Diligence
period, the term of which is agreed to by the Parties. During this period of time, the Buyer
usually conducts inspections on the Property and may initiate further negotiations asking
the Seller to make repairs noted during the inspection. Many contracts fall through at this
point. But if the Parties agree on repairs to be made, a Walk-Thru may be scheduled before
Closing to give the Buyer the opportunity to check the repairs and to see if the Property is
in substantially the same condition it was during inspection.
As with the contract negotiation phase, I am committed to utilizing my negotiating
experience to facilitate reasonable and fair resolutions to any issues that might arise
during inspection. I will make certain you understand any inspection reports and repair
requests and that your questions are answered. I can also serve as a resource for any
service providers that may be called upon during this phase, if you desire.
8. Between Inspection and Closing. Other than the Seller making any agreed upon repairs,
most of the work done after inspection and prior to Closing is on the Buyer’s side. However,
Sellers need to remain vigilant, following up on any outstanding contingencies in the
Agreement as those for financing and appraisals or, perhaps, a Short Sale contingency or
a Contingency to Sell Other Property, if the Buyer must first close the sale of his current
home. (Oftentimes Sellers do not realize that the purchase does not only have to pass
muster from their Buyer, but perhaps from the Buyer's inspector, lender, appraiser,
underwriter and/or other participants.) Sellers may also have contractual obligations set
out in the Agreement, perhaps related to the transferring of utilities or another specific
request. If the Buyer is applying for a loan, which is generally the case, the Lender may ask
for certain documentation as might the Closing Attorney. The period of time beginning with
execution of the Agreement through Closing can be a stressful time for both Buyers and
Sellers. Concerns that an inspection might reveal latent issues, that a lender's appraisal
doesn't support the purchase price or that financing falls through hang over both Parties
until all contingencies to the Agreement are fulfilled.
As your Realtor®, my priority is to stay abreast of the status of all of these events
keeping in close contact with all the participants in the transaction. I work to coordinate
the exchange of needed documentation, assist you in fulfilling any of your obligations
under the Agreement and keep you, the Seller, informed every step of the way to ensure
a smooth and timely Closing.
9. Closing! In Georgia, Closing generally takes place in the office of a Closing Attorney.
Usually, the Buyer will select the Closing Attorney, not to say that it isn’t negotiable.
Closing, defined, is where legal ownership of a property is transferred. Your agent, as well
as the Buyer’s agent, will be present along with the Closing Attorney and, sometimes a
lender representative. The Seller is generally expected to bring the keys to the home,
garage remotes, etc. They may also provide any written warranties or manuals for the
systems or appliances in the home or termite control services, etc. This varies. The Closing
Attorney will provide a preliminary HUD to both parties prior to Closing to review for
accuracy. They will also give instructions regarding the transfer of funds, etc. Usually, the
Buyer takes possession of the property at Closing but sometimes, the Buyer will agree to
take actual possession within a certain period of time, a day or two, after Closing. Though
the Closing Attorney is often selected by the Buyer, especially if a loan has been obtained,
the Attorney technically represents the Lender.
Communication and timeliness is imperative throughout the process but especially
during this critical phase. As your agent, I am constantly in contact with all parties
playing a role up to your actual Closing (and sometimes after). Polite but persistent
communication helps ensure that they are no ‘surprises.' It is my commitment to be
vigilant and keep you in the loop as to the status of your Buyer's financing, the
appraisal, and any other contingency in your transaction.
"Home is where one starts from." T.S. Eliot
