Whether you’ve never sold your home, or you’ve moved multiple times, you may have never stopped to think about what goes into the process of selling. There is more to selling a home than you might think. More than likely, you may be under the assumption that your home will sell itself currently because, nationally, homes for sale receive 3.6 offers and they sell within 18 days.
If you’re a business student, you can more than likely list the four Ps of marketing: product, price, place, and promotion. To some, it might appear that there really isn’t much to selling a home – stick a price on it, take some photos, stick a sign in the front yard, maybe even put it on the MLS, and sit back, waiting for buyers to flood in. There is much, much more that the best agents provide.
Way before your home goes on the market, your agent will create a detailed value and pricing study based on similar homes in size, price, proximity, and condition (this is known as a CMA). An overpriced home will sit on the market longer than it should. The longer it stays on the market, buyers, as well as other agents, begin to wonder if there is something wrong with it. And if you were in the market for a home, wouldn’t you think the same?
Your agent will then develop a staging and declutter plan to make the house show at its best because first impressions matter. This type of effort provides a neutral canvas for buyers to start imagining their things in the home.
This marketing plan is a very comprehensive strategy which considers every aspect of selling the home. The focus being to maximize efforts which will hopefully get the highest possible price offer in the shortest amount of time with the fewest unanticipated events.
Those marketing materials need to present the home in its best light. Usage of professional photos give the buyer the potential to see the home online and make some major first impressions. If the photos do not make the property look good, your buyers may not want to see it. In addition, those photos may be used on brochures, postcards and even social media. They are crucial when it comes to the sale of the home.
One of the most important values the agent brings to the table is their negotiation experience. Realtors must be good negotiators to help get you top dollar for your home. Every phase of that sale involves negotiation, and the position of third-party negotiator eliminates an uncomfortable situation for sellers having to deal directly with buyers, other agents, appraisers, inspectors, and lenders. Your listing agent will be your champion.
I’d like to share with you the following list which includes typical things that most professional realtors will provide. When interviewing an agent, feel comfortable asking questions regarding their position on these items. Another item you might find helpful is our Sellers Guide.
Listing Presentation
- Create Value/Pricing Study
- Staging/DeClutter Plan
- Develop Marketing Plan
- Document Preparation
Marketing
- Professional photos
- Property Description
- Lockbox
- Sign
- MLS & Portals
- Flyers
- Showings
- Open Houses
- Answer phones
- Just Listed/Just Sold
- Prospect for buyers
- Weekly Follow-up – Seller
- Inquiry phone calls
- Pre-qualify buyers
- Maintain files
Negotiations
- Meet with buyer’s agent
- Write & Review contract
- Net sheet
- Present offer
- Negotiate
Pending
- Inspections
- Appraiser
- Resolve Issues
- Review Escrow Statement
- Track buyer’ loan progress
- Coordinate closing
- Documents Review
- Attend final inspection
- Attend settlement
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