Selling Your Home
For many people, selling their home can be a stressful experience. We commit to work with you individually, taking the time to understand your specific objectives and crafting a plan to achieve your goals.
We are dedicated in helping you:
Why use a REALTOR®
All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. Our team proudly displays the REALTOR “®” logo. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.
Here are several reasons on the value of choosing The Barnes Team as your REALTORs®:
1. When selling your home, we will provide you up-to-date information on what is happening in the marketplace, price, financing, terms and condition of competing properties.
We will prepare a comparative market analysis, with active homes, and homes that have sold recently and discuss a pricing strategy.
2. Your REALTOR® markets and advertises your property to other real estate agents and the public to ensure your house gets maximum exposure to potential buyers.
As your REALTOR® we can recommend repairs or cosmetic work that could improve the appearance and salability of your property. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. We act as your marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses and brokers’ tours for agents.
3. Your REALTOR® will know when, where and how to advertise your property.
As your REALTOR® we will prescreen and accompany qualified prospects through your property. This will save you time!
4. Your REALTOR® can help you objectively evaluate every buyer’s proposal and prepare and review the contract for sale and purchase.
The initial agreement is only the beginning of a process of appraisals, inspections and financing which can eliminate a lot of possible pitfalls.
5. Your REALTOR® can assist you through the entire selling process.
Between the initial sales agreement and closing, questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. We can help you resolve these issues and move the transaction to closing.
THE SELLING PROCESS
BUILD A PLAN OF ACTION
Analyze why you are selling
If you know exactly why you are selling, then it will be easier for you to set the right plan of action. Do you need to sell quickly? Is getting the highest price your priority? Discuss your limitations and bottom line with your Realtor® so they can help you set realistic goals.
Prepare you home
You know what they say: “you never have a second chance to make a first impression.” From the moment a potential buyer drives up and enters the home, they should see a manicured lawn; a clean garage; organized closets and rooms; and it should be cleaned from top to bottom.
Find representation and Listing Contracts
The listing contract gives a licensed real estate professional authorization to act on your behalf in the sale of your home. Listing contracts must be in writing, and will have a termination date and compensation structure.
Negotiate the best price and terms
- Read offers thoroughly, and evaluate the price and terms being offered. Some things to consider are:
- Is the Buyer willing to pay for most or all of the closing costs?
- Who is responsible for repairs? What is the dollar amount the Buyer is asking for in repairs?
- When is the closing date?
- Are there any financing contingencies, or is it a cash offer?
Be honest when filling out your disclosures. Insist the Buyers get a home inspection.
Collect net proceeds after mortgage payoff or bring cashier’s check to the closing table for any losses.
SETTING THE PRICE
The single most important factor to consider when selling your house is the price! The price of a house is one of the many reasons why a buyer has decided to view your property.
So before setting the sales price of your house, we will run a Comparative Market Analysis (CMA). The CMA will look at every similar home that was or is listed in the same neighborhood over the past 6 months. We will look at comparable within a 1-2 mile radius and watch for major diving lines and physical barriers such as highways, major streets, as this could be a factor in the difference between house prices.
Compare original list price to final sales price to determine price reductions. Compare final sales price to actual sales price to determine ratios. Adjust pricing for lot size variations, amenities/upgrades.
Examine history to determine price reductions. This could also assist with determining what is selling and what is not and why. Determines how quickly inventory is turning over
These homes are your competition! It is important to view these listings so you can adjust your home price accordingly and to establish the total number of homes in the area
MAKE A GOOD FIRST IMPRESSION
A good first impression can influence a buyer into making an offer or not. It is recommended that you make any necessary and cosmetic repairs, de-clutter and organize your home, and CLEAN from top to bottom prior to your listing agent showing your home. You do not want to give buyers the chance to use the negative first impression they have as means of negotiation.
As a seller, you should consider the following:
Make any necessary cosmetic improvements or repairs (peeling or faded paint, cracks, stains, etc.). Fix loose knobs, sticking and squeaking doors and windows, and any warped cabinet drawers. Many buyers believe there will be ten problems they have not noticed for every one they do see.
Is the lawn mowed and neatly edged? Are trees and bushes neatly pruned? Are flowers in bloom? If not, it may be time for a garden upgrade. Adding colorful annuals to the front garden will make a big difference.
Keep everything neat and uncluttered. Oil squeaking door hinges, tighten loose cabinet knobs and fix faulty wall switches. Organize or pack away tools not in use and discard boxes and scrap materials.
Does both the exterior and the interior look like they have been well taken care of? Would the interior colors be offensive to others? If so, consider repainting them a neutral color.
Does the carpet have stains? Or does the carpet look old and dirty? Consider having the carpets steam-cleaned by a professional company.
Allow as much light as possible to enter the room. Consider removing draperies, shades or other window coverings that do not allow the maximum light exposure. Be sure to also check all the light bulbs throughout the house and replace any that are burnt out.
Consider removing utilitarian items, stacks of paperwork, toiletries, kitchen utensils, and electronic equipment.
Neat, well-organized closets show there is ample space available for the new homeowner and their things. They look larger when there are fewer items stored in them.
The kitchen countertops should only have the bare necessities. The kitchen should have good aromas or no smell at all. Sinks and floors should be clean and dirty dishes out of sight. The cabinets should be wiped down and the appliances free of food and crumbs.
Clean, clean, clean. Every crevasse within the home should be spotless and gleaming. Tubs, toilets, showers, sinks, cabinets, replace all light bulbs, clean ceiling fans, blinds, to name a few.
CURB APPEAL CHECKLIST
Check the home from the roof line down.
Is the roof free and clear?
Are the gutters clear and neatly hung?
Are bushes, trees and shrubs neatly trimmed?
Inspect the condition of the paint or siding?
Is it time to power wash the siding?
Is touch up paint needed?
Is the front door in good shape?
Do flower beds need an upgrade?
Are plants neatly trimmed?
Is the bed free and clear of weeds?
Is the bed properly mulched?
Are flowers in bloom?
Keep the lawn neatly groomed.
Is the lawn free from weeds and neatly edged?
WHY HOMES DON’T SELL
If you have had your home on the market for several months and haven’t seen much activity or any offers, chances are it might be one or more of the following reasons:
Price is too high
Being priced too high is the first thing you should consider if your house is still sitting on the market while others around it are changing owners. Look at other homes for sale, as similar and as close to yours as possible. If they have sold for less than you may be priced too high.
The condition of your home
There are a lot of homes on the market, new and existing, you are competing against. The more you can do to make your home look appealing to a buyer, the better your chances for a quick sale. Make sure that both the interior and exterior paint is in good condition. Repainting doesn’t cost much, and will usually make the biggest impact on buyers. Try to stick with light, neutral colors. Make sure all the floors are cleaned, and if you have carpet have them steam cleaned. If the carpet still looks worn, consider replacing it. The cost might be minimal and it makes an impact when buyers enter your home.
The best listing agents will use an aggressive marketing campaign to market your home. Before hiring a Realtor® to list your home you want to be sure to ask what type of marketing/advertising campaign he/she has. Is your listing agent advertising on the internet (such as their own website or realtor.com), MLS, local newspapers, magazines, open houses, broker tours? If all your agent has done is put a sign in your front yard and added your home to the local MLS, then you may want to speak with your agent about what they are doing to effectively market your home.
The market is slow
Buyers are expecting to find bargains during a slow market. Get creative and separate yourself from the competition. For example, offer buyer incentives, contribute money towards the buyers closing costs, or assist with their down payment, offer a point or two to buy down their interest rate. The ultimate way to beat a slow market is to simply wait it out; however, this is not always an option for many sellers.
Your home isn’t easily accessible
To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first. Many homes on the market have “lock boxes” on them. The lock box is a device which holds a key to the home, that only qualified local agents can access. Homes that are listed as being “lock box, no appointment needed” will get shown more often than homes listed as “agent has key, call for appointment”. If at all possible, you should let your agent put a lock box on your home for easier showing. If not, you should do anything else you can to make it as convenient as possible for agents to show your home.
Help For Sellers: Short Sales
Losing your home can be emotional and stressful. When we sit down with homeowners in distress we recommend to immediately contact their lender, which we know can be difficult. Communication is key. Discuss with your lender programs that may be available to help such as MAKING HOME AFFORDABLE PROGRAM.
These programs may assist you whether you are: Current on your mortgage but feel you will have trouble making payments (now or in the future) and/or currently behind on your mortgage. If you do not meet the requirements for these programs, or the payments do not work within your budget, a short sale may be an option. While you are on the phone with them, ask them for their short sale workout package so you can begin gathering the necessary documents. Once you discuss with your lender the short sale, that is where we come in.
As a Certified Short Sale Professional (CSP), we will then work together and get the property listed at market value. Once an offer is received we can submit that along with all the supporting documentation to your lender so we can start the short sale process. Please keep in mind this is a very brief overview and there are other important items to consider when doing a short sale. We will discuss those at our consultation. It is also important to remember as your REALTOR® this is handled like any normal real estate transaction. NO FEES up front. I do not get paid until it closes!
From listing to closing, we will navigate the entire sales process for you, using our resources and expertise to sell your home for top dollar in the least amount of time and with the least amount of inconvenience.
We will analyze the market to price the property accurately and get your property in the best condition to evoke maximum emotional appeal with buyers.
Most agents simply list homes. We will strategically market them and actively target the types of buyers most likely to want your home. Your home will be actively advertised 24/7 to both buyers and the Realtor community nationwide and internationally.
We appreciate the opportunity to represent you in getting your home sold! Contact us today to find out how we can help you!