11 Useful Tips for Selling your Home

I'd like to share some insights and tips for making the sale of your house as quick and easy as possible. Can a real estate agent really help in selling your home? Yes! But there is a lot of work involved and it's only by coordinating our efforts - yours and mine - that we can avoid the pitfalls, time delays, and aggravations that can flare up during the house selling period.

• Let go of your emotions regarding the house
• What to look for in a Realtor when selling a house
• Be an informed Seller!
• Determining the Market Value of your house
• Types of Listings
• Details of a Listing Contract
• Presenting a "well-groomed" house
• Preparing your house - the exterior
• Preparing your house - the interior
• Preparing your house for potential buyers
• Marketing of your house

Let go of your emotions regarding the house

Whether it's been home for many years or just a few, you may have memories and "feelings" that can interfere with the selling process. You must now see that what was once your home, now becomes your house. You need to think of your house as a marketable commodity, a property, something separate from yourself that you need to sell to someone else. My goal is to shorten the time it takes to sell the house so you can move on to the next phase of your life.

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What to look for in a Realtor when selling a house

The majority of house sellers feel that it is better to entrust the sale of their biggest investment to a professional rather than trying to learn on a trial-and-error basis. Due to the complexities of modern real estate transactions which include legal and financial components, working with a professional is highly recommended. So, how do you choose a Realtor who will be effective?

Look for the following attributes:

• a sense of professionalism
• a full time Realtor who is as committed to the industry as he or she is to getting your house sold!
• is familiar with the area in which your house is located
• is familiar with the price range and can negotiate with qualified buyers in the price range in which your house will be listed
• shows evidence of advertising and marketing ability
• provides references from previous sellers

You should also ask the following:

• Are you a full time Realtor?
• How long have you been in the real estate industry?
• Are you an MLS (Multiple Listing Service) member?
• How familiar are you with the area where my house is located?
• Can you supply 3 names and addresses of recent clients for whom you sold a home so I can contact them for reference purposes?
• How did you arrive at the suggested listing price for my house?
• What would be your specific marketing plan for my house?
• How would you keep me informed of the progress of the sale of my house?

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Be an informed Seller!

In our initial conversation, I will ask you many questions in order to set the list price of your house. Trying to put a price on your house without professional help is almost never successful. Pricing a home involves evaluating various market conditions and financial factors. I can help by providing up-to-date information on what is happening in the marketplace and the price, terms and conditions of other houses for sale in your area. These are key factors in getting your property sold at the best price, quickly and with minimum wrangling. It's what I do best.

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Determining the Market Value of your house

You may have a fairly good idea of what you think your house is worth but, predicting how much someone will pay for your house should not be a guessing game. Unlike clothing or automobile prices that fluctuate according to shelf life or newer models, the market value of a house is simply the price at which the house, in as-is condition, will sell within a given period of time. I will provide you with a "Competitive Market Analysis" that may or may not agree with what you think your house is worth. Perhaps you remain convinced your house is worth more. If so, we may need to discuss the market value of your house at length to reach a reasonable price.

You can count on my honesty, integrity, and professionalism. My promise to you is that I will NEVER engage in the practice of "Buying A Listing", that is agreeing with you for the sole purpose of eventually talking you into lowering the price. As stated before, my goal is getting your property sold at the best price, quickly and with minimum wrangling.

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Types of Listings

There are several types of listing contracts, but very few are used. The most common is the "Exclusive Right to Sell" contract, but there are also the "Open Listing". the "Exclusive agency Listing" and the "One-time show" listing contract. Let's see these one at a time:

• Open Listing
  The "open listing" is mostly used by those FSBO - For Sale By Owner but are also willing to work with Realtors. Basically it gives a Realtor the right to bring buyers to view a house and offers a commission should the house sell to the buying prospect. The house will not be marketed by the Realtor nor will it be placed on the MLS database.
  
  
• One-Time Show
  Similar to an "open listing" it allows Realtors to show a house to potential buyers but there is a contract that guarantees the agent a commission and prevents the buyer and seller from negotiating directly to avoid paying the Realtor's commission. Like the "open Listing", the house will not be marketed by the Realtor nor will it be placed on the MLS database.
  
  
• Exclusive Agency Listing
  An "exclusive agency" listing allows a Realtor to list and market a house guaranteeing a commission upon the sale, but also allows you to find a buyer on your own with no commission paid if you make the sale. Though not popular among professional Realtors, it will get the listing posted on MLS.
  
  
• Exclusive Right to Sell
  Perhaps a misnomer, this contract does allow other Realtors to sell your house, and your listing Realtor will earn a commission regardless of who makes the sale. Realtors will invest time and money and provide full service with this type of contract by listing your house on the MLS, advertising it in selected media, and perhaps even holding open houses. Of course, the Realtor and his or her company must still sell the house in order to get paid, but the odds are better for a sale with this full service approach. This is the more successful approach and the only one I use.
  

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Details of a Listing Contract

Besides the address and sellers name, there are several other items that must be included in a listing contract.

• The Selling Price and Terms of Sale
  Disclosure of what "personal property", if any, is included in the selling price. "Personal property" means anything not attached to the house like appliances, window coverings, etc. You may also have to list what "real property" is excluded from the sale. "Real Property" means items that are attached to the house but you do not intend to include in the sale. Examples may be a chandelier, built-in HDTV, etc. It is important that this information be posted on the MLS (Multiple Listing Service).
  
  
• The Real Estate Commission
  It is customary to offer a percentage of the sale to the Realtor(s) involved in the sale of your house. The percentage may vary, but it must be agreed on before you complete the listing agreement. It must be clear to you how and when a realtor's commission is earned. Earning a real estate commission can occur when a buyer presents an offer that meets your selling price or after negotiating on price and terms through counteroffers. If you get "cold feet" about selling your home, and many sellers do, make sure you do so before you agree to any terms with a buyer.
  
  Once you reach terms with a buyer, you have in effect incurred two contractual obligations: one to the buyer, another to the Realtor(s). If for any reason you should change your mind about selling or moving, the Realtor has earned his or her commission according to the terms of the listing agreement, and must be paid.
  
  
• MLS (Multiple Listing Service)
  Your listing contract must specify whether or not the house will be listed with the local MLS. It is definitely in your best interest to do so because the MLS exposes your house to thousands of Realtors increasing the possibility of a sale. Not listing your house on MLS or selling by owner drastically lowers your chances of finding a buyer. A sign on your lawn, brochures, open houses and advertising in local periodicals and on the Internet are only some of the ways to announce your intentions to sell. The MLS database can be accessed across the state, nationwide, even worldwide increasing the chance of finding a buyer sooner and with less hassle.
  
  
• Duties and Obligations of the Listing Realtor
  A listing contract specifies that the listing Realtor is acting as a "seller's agent" working for you and only you in the sale of your house. A Realtor is an agent who is responsible and answers to his or her client(s). He or she has a "fiduciary duty" to act in the best interest of the client. This involves a lot of liability, which is one reason for all the disclosures and page after page of contract, and why they want to be paid for being more than just a "salesperson".
  
  The listing contract should disclose in detail what to do if your listing Realtor also finds a buyer for your house. Will he or she continue to act as your agent or will they assume the duties of a dual agent. The listing contract also provides permission for your listing realtor to act as an agent on other real estate transaction. They can continue to list other properties and represent buyers looking at other houses besides yours.
  

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Presenting a "well-groomed" house

First impressions can make the difference to a homebuyer. An inviting environment speaks to a potential buyer with its comfort, allure, and cleanliness. Preparing your house for these important "guests" requires time and an eye for detail. Do not just box the items and put it in the attic, basement, garage or closet. Preparing a house for sale requires the removal of clutter everywhere. Ask a friend or your Realtor to walk through the house with you to help spot cutter that after years of use and familiarity may have become "invisible" to you.

If you'd like, I can help you "stage" your house with the services of an experienced and highly qualified interior designer that I trust and use regularly.

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Preparing your house - the exterior

Basic guidelines include:

• Remove debris and clutter from the yard, including tree limbs and leaves, unused vehicles, lawn equipment, seasonal or personal lawn decorations, etc.
• Powerwash or paint dirty or moldy exterior
• Reseed grass, if necessary
• Trim shrubbery, plants and trees
• Regravel or reseal driveway, if necessary
• Powerwash or seal decks and porches
• Clean and clear gutters and downspouts; make sure they are functional
• Make sure all exterior lights are functional
• Add mulch colorful flowers to landscape; makes the grounds look refreshed
• Make sure windows are clean and operational
  

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Preparing your house - the interior

Basic guidelines include:

• Repaint front door(s) if they remotely need it - especially if you regularly use the side or rear entry
• Keep furniture to a minimum but make the rooms look comfortable
• Unclutter countertops and shelving but not too bare since the house is lived in
• Clean exterior of all appliances, cabinets and tile grout
• Clean floors everywhere; especially clean all oil marks from the garage floors
• Fix all dripping faucets
• Remove all mildew from showers and bathtubs
• Replace furnace filter(s)
• Check for safety: stair railings, sliding and pocket doors, cracked glass or window panes, liquid, dust, or pet stuff on floors, remove wood or metal slivers, clean and inspect fireplace(s)
• Make sure your guests can easily navigate throughout the house
  

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Preparing your house for potential buyers

Basic guidelines include:

• If possible, give family members assigned tasks in advanced that will be put into action when a short-notice showing is scheduled.
• Open window coverings to allow maximum light into the house. Turn on lights and A/C to comfortable setting where possible
• Make sure the house smells nice and clean. You may want to air out the house before the scheduled showing but close the windows before the guests arrive
• Do not overwhelm the house with candles and air fresheners
• Make sure kitchen and bathrooms are spotless!
• Make sure beds are made
• Remove pets or at least keep them outside or in a kennel
• Place a Facts Sheet where it would be easily seen and picked up
• Leave the house! Go for a walk. Visit your neighbor. If not possible, make yourself as inconspicuous as possible.
  

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Marketing of your house

Though all Realtors are trained in both the buying and selling of houses, they often specialize in one aspect or the other. You would normally use the services of a professional Buyer's Agent when purchasing a home, a person dedicated and well versed in all aspects of finding homes for prospective buyers. Selling your house is another matter. You need the services a professional Listing Agent.

A sign goes up on your front lawn. Ads are placed in the local newspaper and periodicals. You house is displayed on the Internet. And your Realtor may even hold an open house on the weekend. This is only "surface" marketing. More important activities occur "behind the scenes". After the listing contract is signed, the "For Sale" sign goes up and fliers are printed, the listing Realtor's main job is to market your house to other Realtors and to homebuyers.

An Office Preview will introduce your home to other agents working in the same office, giving them a headstart on selling your property and making a commission. Once a week, the agents in an office will visit new listings either in groups or individually. They are looking for anything memorable or different to determine if your house is one they would be proud to show and sell to their clients and prospective buyers. Remember, you only have one chance to make a good impression. I can help you make your house not only presentable, but memorable, to the Realtors and their buyers.

After an Office Preview, there is the Broker Preview where all members of the local MLS visit new listings. Considering the numerous houses available, you may have to "entice" brokers to visit your house over others with incentives that can range from simple catering, to "progressive lunches", or raffling a gift or cash prize. Again, I can help you determine if this is advisable, necessary, or not.

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Getting Started Selling Your Home

When you are ready to sell your home, talk to Cherylé Sanderson first by email (below) or by calling (281) 413-9990.  We will work with you to make your home selling experience as quick and easy as possible.