I WANT TO LIST MY HOME - AN OVERVIEW
The biggest decision for most sellers when they list their home is usually what the listing price will be. What is the home worth? Will I get back what I paid originally? Sometimes, you can come to a number on your own - factoring in upgrades you've made, recent sales in the neighborhood and knowing if the market has gone up or down. The best way to get a realistic number for your home is to talk to a real estate agent and request a CMA (comparative market analysis). A CMA will analyze comparable homes in the area that were recently sold or listed. This is a report you can keep and is a complimentary service that most real estate agents provide. Some tips about CMA's:
Updated CMA's. You can request that your real estate agent update their CMA at any time and present you with a new one. If your real estate agent cares about your business, they will always give you the updated version. You may request this because of new features in the home or just because you think the market has shifted. Maybe you've even noticed a few sales in your neighborhood that went over listing price. All of these are valid reasons to request a new report on your property.
All CMA's are not created equal. Once in a while, a seller will request multiple CMA's from multiple agents and then list their home for the highest valuation received. Listing for the highest price isn't necessarily always the wisest choice. If your real estate agent is knowledgeable they will be able to explain how they came to the valuation provided and why they chose the comparable properties that they chose.
Your real estate agent is both a consultant, confidante and trusted adviser. Keep this in mind as you begin your search for the real estate agent that will serve your needs the best. Our recommendations and tips:
Full-time. Hire a full-time agent. This is their career. They are building a business they can be proud of in the community that they love. They will invest time and money in their continuing education, in their client services and continually study the marketplace to stay informed.
Reputation. Find a real estate agent with a great track record, high client satisfaction and a reputable brokerage. They should have proven systems for transaction management, marketing and all other aspects of the business. They should have great relationships with other real estate agents in town and local vendors. They should be professional and their business should have a professional brand presence. After all, this is who will be representing you to other agents, buyers and neighbors and will have an impact on how others perceive your property.
Impression. When you met, did they have a professional demeanor? Did they seem informed and answer all your questions? Do you feel like you can trust them to advise you correctly in the future and handle one of the largest transactions in your life? If the answer is yes to all these questions, put this real estate agent on your shortlist for the job.
You have found a great real estate agent. Together, you determined a price for your home. The process will change depending on the client and their needs, but with The Bacorn Group, these are generally the next steps:
Listing Agreement. You sign a listing agreement, which specifies what you are listing your home for, who you are listing with, what the amount of commission will be, how long the agreement is valid for and other details about listing your property.
Home Preparation. Repairs, cleaning, staging, etc. Our agents will give you unlimited consultations on this depending on your home and budget. You may just be removing clutter and personal items, having the home professionally cleaned and staged or you may be interested in hearing ideas for low-cost-high-return repairs and renovations. Each property and client is different.
Listing & Marketing. You've listed your property and are working on home preparations. Our team is working on getting your home on the market for the date specified. You will be introduced to your team, which usually will include your escrow officer, transaction manager or our executive assistant. The initial paperwork for your property will be completed and submitted. You will sit down with your real estate agent and fill out a packet of disclosures which clarify details on the property for prospective buyers. You will receive a calendar of all scheduled work, including photography and video. Marketing and advertising will begin. Open houses will be scheduled.
Our systems are extensive and our detailed marketing plans guarantee the maximum amount of exposure for our listed properties. Request our listing package for more information.
Depending on the traffic at open houses and feedback on the home, your real estate agent may advise that you either set an offer deadline or just take offers as they come. Your real estate agent will go over any received offers with you and together, you will determine how to respond. Generally, this comes in the form of a counter-offer to get the best terms possible for you. Your real estate agent will share what their negotiation strategy will be.
You have accepted an offer. Now, you are in escrow. This means that the buyer's deposit has been given to the escrow company and is being held until the end of the escrow period. All inspections and negotiated repairs are completed. All paperwork is being completed and submitted by our team. If there is a loan involved, the appraisal is scheduled and completed. The lender completes their underwriting and approval process. The buyer removes their contingencies. Now you just need to sit down with the escrow officer and sign your closing documents.
The closing date arrives. The loan funds and funds are distributed to the appropriate parties. Your agent makes sure the new buyers get their keys and garage openers. Now you can celebrate!