Home Sale Procedures
LISTING PLAN OF ACTION
Our objectives are the following:
1. To assist you in getting as many qualified buyers as possible into your home until it is sold.
2. To communicate with you weekly the results of our activities.
3. To assist you in negotiating the highest dollar value between you and the buyer.
Evan Zener will:
- Enter your home into the multiple listing service to make other real estate agents aware of your property for sale.
- Place a lockbox on your door, enabling other real estate agents to preview and show your property.
- Have professional photos, 3d virtual tour, and aerial photo’s taken to make your listing stand out online.
- Place a basket of shoe covers in your home to protect your floors from sand and debris.
- Place a For Sale sign with attached brochure box in your yard to attract drive-by traffic.
- Create a full-color brochure, available to all agents and prospective buyers who enter your home.
- Provide full-color home brochures for your For Sale sign brochure box.
- Design a special marketing plan, if needed, to accommodate the unique nature of your property.
- Assist in planning repair work to home if necessary.
- Offer guidance in furniture placement and staging.
- Email marketing campaign announcing new listings to local agents.
- Will notify all local investors on appropriate properties.
- Expose your home to business affiliates, past clients, and your neighborhood through circle prospecting.
- Assist you in pricing your home competitively – to open the market vs. narrowing the market.
- Make suggestions and advise you about changes you may want to make your property more salable.
- Constantly update you regarding changes in the marketplace.
- Prospect daily speaking to around 50 people a week looking for potential buyers for your property.
- Represent you on all offer presentations to assure you the best price and terms in negotiations.
- Handle all follow up on a contract being accepted including mortgage, title, inspection, and closing.
- And much more!
SETTING THE PRICE FOR YOUR HOME
There are three factors to consider in selling a home: location, condition, and price, and they are all related. I fine-tune the price by taking all of these variables into. consideration.
LOCATION –Your home’s location and setting influence its value. A home inside a quiet subdivision sells for more than the identical home on a busy street. Views, streams, and trees usually enhance value. Obviously you have no control over location.
CONDITION- You have nearly complete control over the condition of your property and you can increase value and decrease time on the market by making certain that your property is in the best possible condition.
PRICING-Your home must be priced within the appropriate range. You must actually “sell” your property twice: first to the buyer, then to an appraiser. The buyer is more subjective and compares the amenities of your home to those of other homes in the same price range. The appraiser is more objective and compares age, size, and cost – identifiable features in your home against other properties that have sold.
BOOKING SHOWINGS/FEEDBACK GATHERING PROCEDURES
Send any pertinent information prior to the scheduled viewing. If possible, follow up after email is sent and before the property is viewed to answer any additional questions. Confirm appointment.
Well, what did they think? What is the feedback from the showing?
Send an email to the showing agent or potential buyer the day following the showing. Send repeated emails to the showing agent or potential buyer until an email is received. If the agent or potential buyer does not respond after three requests, assume that they have no feedback.
“The buyer thought the house was too small.” – The buyer found a larger home for the same price.
“They liked the house but bought another.”- They found other houses that were better valued.
“They liked the house but bought a new home.”- Buyers will pay 10-15% more for a new house.
“They didn’t like the carpet or wallpaper.”- The seller should replace the carpet/wallpaper due to age or color.
“They thought the yard was too small/the street was too busy.”- They found other homes. with larger yards/quieter streets for the same price.
“The home needs some work.”- The seller may need to make minor repairs or neutralize.
POST OFFER PROCEDURES
When an offer is made on your home, I will do the following:
- Present the offer to you personally.
- Have the cooperating broker share buyer qualifications.
- Go over every item in the contract with you so that you thoroughly understand what the buyers are offering and what they are asking for.
- Discuss all offers with you in private, after listening to the other agent.
Give you as much input as we can regarding:
- Current market and finance activity
- Other sales to date
- Broker comments
NEGOTIATING YOUR BEST PRICE
Ask questions. Get to know the buyer. Things like their family size, financial position, and motivation. Does the buyer own a home now? Why did the buyer select your home?
TIMING-When is the closing scheduled and when must you deliver possession? What deadlines are important and/or required by the buyer? Most concessions occur at or beyond the deadlines.
CONTINGENCIES- Evaluate contingencies carefully and thoroughly Most common is the mortgage contingency. The contract should be specific regarding interest rate, points, and date of commitment. All contingencies, including attorney review, inspections, or repairs should have a specific timeframe in which to be completed.
PRICE- Requires buyers to respond to counter offers by a specific date. If you make a concession on price, be sure that your requirements (personal property, timing, etc.) are met.
IMPORTANT- Take a cooperative position. You can also accept the contract with this clause: “Seller acceptance of this contract is contingent upon approval by the attorney for the seller within three days of the date of acceptance.” Remember that personal property included in the sale can be used as a negotiating tool.
PREPARING FOR THE HOME INSPECTION
Many of these items may be taken care of with little or no cost. Some of these items will indicate to the home inspector and buyer that the house has been maintained. Do not do quick cheap repairs. The inspector will be suspicious of amateur work and will tend to take a closer look at the house.
- Clean out gutters.
- Divert all water away from the house (i.e. downspouts, sump pump, condensation drain, etc.) Grade should taper away from the structure.
- Trim trees and bushes back from the foundation, roof, siding, and chimney.
- Paint all exterior wood and caulk around trim, chimneys, windows, and doors. Replace rotted wood if applicable.
- Seal asphalt driveways if needed.
- Seal or point up masonry chimney caps. Install metal flue cap.
- Clean or replace HVAC filter, clean air returns.
- Point up any failing mortar joints in brick or block.
- Test all smoke detectors.
- Update attic ventilation, if needed.
- Clean the chimney, fireplace, or wood stove.
- Seal masonry walls in basement.
- Get all windows and doors into proper operating condition. Make sure all doors, especially closet
- doors, open and close with ease.
- Put all plumbing fixtures (toilet, tub, shower, sinks) into proper working condition. Look for any leaks.
- Install GFCI receptacles near all water sources.
- Check sump pump for proper operation.
- Replace any burned out lights.
- Remove firewood from contact with the house.
- Proper grading is recommended under deck.
- Proper vapor barrier in crawlspace.
- Caulk all exterior wall penetrations.
- Caulk all tub/shower fixtures.
- Caulk along tub/floor, tub/walls, tub/shower/glass doors.
- Remove any visible moisture from the crawlspace. Moisture levels in wood should be below 18% to deter rot and mildew.
- Check that bath vents are properly vented.
- Remove points, solvents, gas, etc. from the crawlspace, basement, attic, porch, etc.
- Check that toilets are secured to floor.
- Expose all attic and/or crawlspace access.
UNDER CONTRACT PROCESSING THE SALE
- Open title
- Deliver earnest money check and contract to the title company
- Obtain receipt for earnest money check from the title company.
- Order all necessary inspections.
- Examine the title commitment for clouds and make sure problems are disclosed early so closing is not delayed.
- Ensure that you receive copies of all documentation pertinent to the transaction.
- Note all contingencies and attempt to remove them within the time limit provided or get an extension of time, if needed.
- Stay informed of the buyer’s loan application and the progress of the appraisal on your home.
- Be present during inspections and stay informed of their findings. Roof, pest control, pool, building, plumbing & Heating.
- Coordinate/execution of any required repairs.
- Verify the survey has been ordered and completed.
- Provide title company with any charges for HUD-1.
- Have closing papers drawn before closing so that if any problems arise you are more prepared.
- Coordinate the closing and move-in dates.
- Make moving arrangements in advance.
- Check all companies with your local better business bureau.
- Get at least three bids.
- Inform each company of the destination and timing of your move
- Ask about the types of services they offer and rates and charges that will apply
- Ask what their liability is for your belongings and what claims protection you will have.
- Ask how pickup and delivery will work.
- Ask them to explain their estimates in detail and to give you a copy.
- If you get non-binding estimates, actual charges may exceed the estimate, so be sure you have enough cash or a certified check to pay the estimated cost of your move plus 10 percent more at the time of delivery.
- Specify pickup and delivery dates in the order for service
- The bill of lading is your contract with the mover, so read it carefully. If you have any questions, ask your mover.
- You have the right to be present each time your shipment is weighed, and you may request a reweigh of your shipment.
- Unresolved claims for loss or damage may be submitted to arbitration.
If you are moving interstate, moving companies should give you a copy of a consumer booklet entitled, Your Rights and Responsibilities When You Move and information regarding the mover’s participation in a dispute settlement program. After you have gathered this information, compare bids to see which mover best suits your needs and budget.