Seller Resources

Whether you are thinking about selling your first home or your seventh home, a trained real estate professional can help you earn more money in less time on the sale.

We work hard to understand the unique selling points of your home and neighborhood, and can provide you with the expertise you need to put a SOLD sign on your property.

To help you get started on your home sale, take advantage of these valuable resources.

 

This Month In Real Estate

Is now a good time to buy?
What trends are affecting the value of my home?
What new economic policies will be shaping my decisions in the coming months?
Watch this month's video.

 


Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the United States and Canada. This Month in Real Estate is a monthly video news series that offers an inside look at the national real estate market. Each edition provides a snapshot of the numbers and trends that drive the real estate market, as well as expert opinion and analysis.

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8 Steps to Selling Your Home

1. Define your needs.
Write down all the reasons for selling your home. Ask yourself, "Why do I want to sell and what do I expect to accomplish with the sale?" For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move. For your goals, write down if you'd like to sell your house within a certain time frame or make a particular profit margin. Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale.

2. Name your price.
Your next objective should be to determine the best possible selling price for your house. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. You will need to take into account the condition of your home, what comparable homes in your neighborhood are selling for, and state of the overall market in your area. It's often difficult to remain unbiased when putting a price on your home, so your real estate agent's expertise is invaluable at this step. Your agent will know what comparable homes are selling for in your neighborhood and the average time those homes are sitting on the market. If you want a truly objective opinion about the price of your home, you could have an appraisal done. This typically costs a few hundred dollars. Remember: You're always better off setting a fair market value price than setting your price too high. Studies show that homes priced higher than 3 percent of their market value take longer to sell. If your home sits on the market for too long, potential buyers may think there is something wrong with the property. Often, when this happens, the seller has to drop the price below market value to compete with newer, reasonably priced listings.

3. Prepare your home.
Most of us don't keep our homes in "showroom" condition. We tend to overlook piles of boxes in the garage, broken porch lights, and doors or windows that stick. It's time to break out of that owner's mindset and get your house in tip-top shape. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important. Your real estate agent can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers.

  • A home with too much "personality" is harder to sell. Removing family photos, mementos and personalized décor will help buyers visualize the home as theirs.
  • Make minor repairs and replacements. Small defects, such as a leaky faucet, a torn screen or a worn doormat, can ruin the buyer's first impression.
  • Clutter is a big no-no when showing your home to potential buyers. Make sure you have removed all knick-knacks from your shelves and cleared all your bathroom and kitchen counters to make every area seem as spacious as possible.

4. Get the word out.
Now that you're ready to sell, your real estate agent will set up a marketing strategy specifically for your home. There are many ways to get the word out, including:

  • The Internet
  • Yard signs
  • Open houses
  • Media advertising
  • Agent-to-agent referrals
  • Direct mail marketing campaigns

In addition to listing your home on the MLS, your agent will use a combination of these tactics to bring the most qualified buyers to your home. Your agent should structure the marketing plan so that the first three to six weeks are the busiest.

5. Receive an offer.
When you receive a written offer from a potential buyer, your real estate agent will first find out whether or not the individual is prequalified or preapproved to buy your home. If so, then you and your agent will review the proposed contract, taking care to understand what is required of both parties to execute the transaction. The contract, though not limited to this list, should include the following:

  • Legal description of the property
  • Offer price
  • Down payment
  • Financing arrangements
  • List of fees and who will pay them
  • Deposit amount
  • Inspection rights and possible repair allowances
  • Method of conveying the title and who will handle the closing
  • Appliances and furnishings that will stay with the home
  • Settlement date
  • Contingencies

At this point, you have three options: accept the contract as is, accept it with changes (a counteroffer), or reject it. Remember: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with your real estate agent right away.

6. Negotiate to sell.
Most offers to purchase your home will require some negotiating to come to a win-win agreement. Your real estate agent is well versed on the intricacies of the contracts used in your area and will protect your best interest throughout the bargaining. Your agent also knows what each contract clause means, what you will net from the sale and what areas are easiest to negotiate. Some negotiable items:

  • Price
  • Financing
  • Closing costs
  • Repairs
  • Appliances and fixtures
  • Landscaping
  • Painting
  • Move-in date

Once both parties have agreed on the terms of the sale, your agent will prepare a contract.

7. Prepare to close.
Once you accept an offer to sell your house, you will need to make a list of all the things you and your buyer must do before closing. The property may need to be formally appraised, surveyed, inspected or repaired. Your real estate agent can spearhead the effort and serve as your advocate when dealing with the buyer's agent and service providers. Depending on the written contract, you may pay for all, some or none of these items. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If there are problems with the home, the terms set forth in the contract will dictate your next step. You or the buyer may decide to walk away, open a new round of negotiations or proceed to closing. Important reminder: A few days before the closing, you will want to contact the entity that is closing the transaction and make sure the necessary documents will be ready to sign on the appropriate date. Also, begin to make arrangements for your upcoming move if you have not done so.

8. Close the deal.
"Closing" refers to the meeting where ownership of the property is legally transferred to the buyer. Your agent will be present during the closing to guide you through the process and make sure everything goes as planned. By being present during the closing, he or she can mediate any last-minute issues that may arise. In some states, an attorney is required and you may wish to have one present. After the closing, you should make a "to do" list for turning the property over to the new owners. Here is a checklist to get you started:

  • Cancel electricity, gas, lawn care, cable and other routine services.
  • If the new owner is retaining any of the services, change the name on the account.
  • Gather owner's manuals and warranties for all conveying appliances.

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How to Price to Sell and Still Make a Profit

The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent's knowledge of the overall market and what's selling - or not selling - will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won't leave money on the table.

Here are some points to consider:

Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).

Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It's important that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don't place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.

Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.

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Increasing Your Home's Appeal

Remember the 60-second rule: That's all the time you have to create a winning first impression. Here are some simple to significant ways to maximize your home's appeal.

Exterior

  • Keep the grass cut and remove all yard clutter.
  • Weed and apply fresh mulch to flower beds.
  • Apply fresh paint to wooden fences.
  • Tighten and clean all door handles.
  • Clean windows inside and out.
  • Powerwash home's exterior.
  • Ensure all gutters and downspouts are firmly attached and functioning.
  • Paint the front door.
  • Buy a new welcome mat.
  • Place potted flowers near the front door.

Interior

  • Evaluate the furniture in each room and remove anything that interrupts "the flow" or makes the room appear smaller. Consider renting a storage unit to move items off-site.
  • Clean and organize cabinets, closets and bookshelves.
  • Clean all light fixtures and ceiling fans.
  • Shampoo carpets.
  • Remove excessive wall hangings and knick-knacks.
  • Repair all plumbing leaks, including faucets and drain traps.
  • Make minor repairs (torn screens, sticking doors, cracked caulking).
  • Clean or paint walls and ceilings.
  • Replace worn cabinet and door knobs.
  • Fix or replace discolored grout.
  • Replace broken tiles.
  • Replace worn countertops.

Special details for showings

  • Turn on all the lights.
  • Open all drapes and shutters in the daytime.
  • Keep pets secured outdoors.
  • Buy new towels for bathrooms.
  • Buy new bedding for bedrooms.
  • Replace old lamps or lampshades.
  • Play quiet background music.
  • Light the fireplace or clean out the ashes and light a candelabrum.
  • Infuse home with a comforting scent, such as apple spice or vanilla.
  • Set the dining room table for a fancy dinner party.
  • Vacate the property while it is being shown.

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Understanding the Buyer

As the seller, you can control three factors that will affect the sale of your home:

  1. The home's condition
  2. Asking price
  3. Marketing strategy

However, it's important to note that there are numerous other factors that influence a buyer, and you need to understand these consumer trends when you enter the sellers' market. The more your home matches these qualifications, the more competitive it will be in the marketplace. Your real estate agent can advise you on how to best position and market your home to overcome any perceived downsides.

Location
Unfortunately, the most influential factor in determining your home's appeal to buyers is something you can't control: its location. According to the National Association of REALTORS(r), neighborhood quality is the No. 1 reason buyers choose certain homes. The second most influential factor is commute times to work and school.

Size
While some buyers want to simplify their lives and downsize to a smaller home, home sizes in general have continued to increase over the decades, nearly doubling in size since the 1950s. Smaller homes typically appeal to first-time home buyers and "empty nesters," or couples whose children have grown up and moved out.

Amenities
Preferences in floor plans and amenities go in and out of fashion, and your real estate agent can inform you of the "hot ticket" items that are selling homes in your market. If your home lacks certain features, you can renovate to increase its appeal, but be forewarned: That's not always the right move. Using market conditions and activity in your neighborhood as a gauge, your agent can help you determine whether the investment is likely to help or hinder your profit margin and time on the market.

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Practicing Good Seller's Etiquette

Let's face it: When your house goes on the market, you're not only opening the door to prospective buyers, but also sometimes to unknown vendors and naïve or unqualified buyers. As with any business transaction, there is an expected protocol to how sellers, buyers and their respective agents interact. Should you find yourself in a sticky situation, alert your agent so he or she can address and remedy the problem.

The aggressive agent
When your agent puts your house on the market, typically all promotional materials state clearly that your agent is the primary contact for buyers and buyers' agents. However, sometimes a buyer's agent will contact a seller directly to try to either win over their business or cut the seller's agent out of the deal. This is not reputable behavior and you should report it to your agent immediately if it happens to you.

The unscrupulous vendor
Have you ever started a business or moved into a new house and suddenly found your mailbox full of junk mail? Unfortunately, this also can happen when you put your house on the market. When you sell your home, it necessitates all kinds of new purchasing decisions and less-than-ethical vendors are keenly aware of this. Though MLS organizations enforce rules on how posted information is used, some companies have found ways to cull information from various sources to produce mass mailing lists. If you find yourself regularly emptying your mailbox of junk, let your agent know. He or she can tap the appropriate sources to prompt an investigation into the matter.

The naïve buyer
Yard signs, Internet listings and other advertisements can generate a lot of buzz for your home. Some prospective buyers - particularly first-timers - will be so buzzed to see your home that they'll simply drop by. If this happens, no matter how nice these unexpected visitors are, it's best not to humor their enthusiasm by discussing your home or giving an impromptu tour. Instead, politely let them know that your real estate agent is in charge of scheduling tours and provide them with the agent's contact information. If you attempt to handle these surprise visits on your own, you might inadvertently disclose information that could hurt you during negotiations down the road.

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Moving Tips

Use These Moving Tips for a Trouble-Free Move to Your New Home

Your moving timeline might differ if you are selling a house and have accepted a quick closing date. Push everything forward as necessary to accomplish your move as quickly and easily as possible.

As Soon as Your House Goes on the Market

  • Purchase packing supplies, such as tape, boxes and wrapping papers or plastics.
  • Buy stickers or red markers to flag fragile packages.
  • Start keeping track of all moving expenses, because some might be tax deductible.
  • Clean and organize all closets.
  • Clean and de-clutter every room in the house, including the garage and basement.
  • Pack unused items that you plan to keep. Label each box's contents and store the boxes in a safe but out of the way location where they won't interfere with showings.
  • Donate unneeded items to charity or have a garage sale to get rid of them.

As Soon as You Know a Moving Date

  • If you're hiring movers, get price estimates and a list of services. Place your order when you know you have a firm move date.
  • If you're moving yourself, check moving truck prices and reserve a truck.

4-6 Weeks Before Moving

  • Keep packing if you're doing the work yourself. If movers will pack you ask the moving company for advice on the best ways to prepare.
  • Contact people who work for you on a regular basis, such as pool maintenance companies and gardeners, to cancel their services. Leave their business cards for new owners.
  • Place reference manuals for major appliances in a kitchen cabinet or drawer where new owners will find them. Label extra keys and place in the drawer.

2 Weeks Before Moving

  • Call utility companies and arrange for meter readings on the day of closing so that all services after that date are the responsibility of the new owner. The new owner should also notify utilities of the switchover and set up new accounts.
  • Have utilities disconnected at closing if the new owner does not establish accounts.
  • Stop auto delivery of propane gas or fuel unless it is really needed.
  • Arrange to discontinue your telephone service on the day of closing. Give your cell phone number or another contact number to everyone associated with the move and real estate closing, just in case they need to reach you after the home phone has been disconnected.
  • Arrange to disconnect your satellite or cable TV coverage.
  • Now do just the opposite to begin establishing services at your new home.
  • File a change of address notice at the post office, making it effective on your moving date or a few days before.
  • Notify your creditors, magazine subscriptions, friends and family, doctors, dentists and others of your new address.
  • Schedule a cancellation date or new address for newspaper deliveries.
  • If you're moving out of the area, start picking up items out for cleaning or repair. Return library books and rented DVDs and videos. Arrange to have your prescriptions transferred to a pharmacy near your new home.
  • Start an essentials box or two–all the things you'll need immediately after you unload at your new location, such as toiletries, a broom, towels, sheets, blankets, a change of clothes and nightwear.
  • Find certificates verifying that your pets are up-to-date on required vaccinations. Gather other important documents and plan to carry them with you on the day of moving.
  • Open a bank account at your new location, or, if you're staying in the area, order checks with your new address.

1 Week Before Moving

  • Confirm that your closing is still on track and handle tasks required by your closing agent.
  • Confirm moving and delivery dates with movers or check your truck reservation.
  • Clean each room thoroughly as you finish packing. Don't forget major appliances. Wait to pack your vacuum and other tools necessary for last-minute cleaning on moving day.
  • Arrange to cancel existing homeowner's insurance coverage after the closing is complete and you no longer own the property. If there's a delay, call your insurance agent immediately.
  • Arrange for someone to read the level of propane gas or fuel oil in tanks that remain on the property if your sales contract requires the new owners to pay you market price for the fuel.

On Moving Day

  • Walk through every part of the house to find stray items, opening cabinet and closet doors.
  • Make sure you have keys to your new home.
  • Supervise movers as they load, then again at delivery to make sure boxes and other items go to the right rooms at your new home.
  • Watch for damaged items or damaged boxes. Note all damage on the mover's bill of lading and ask the supervising person to sign off on the notation.
  • Unpack your essentials box–then try to relax for awhile before you start the big unpacking job.
  • If you've ever moved you know there's more to it than this! Transporting pets, plants and people in a comfortable way should top your list, and nearly everything you cancel at your old home must be started again at the new location.
  • Generic tips are a good guide, but start your own personalized list of moving musts on the day you decide to move.

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