The Selling Process
Selling a home or property can be a daunting task. There’s more to it than just propping up a “For Sale” sign in your front yard. Understanding the process can give you a leg up on the task. A Real Estate Agent can work with you to understand the process, to manage your expectations, and ultimately, ease the stress.
The following are the steps or phases of the Selling Process.
Determine Market Value
The price of your home or property is the first step in the process. A good price attracts Buyers. A well priced home can generate buyers’ competing offers that ultimately drives up the price of the home or property. As your Agent, I know the area and what buyers are looking for. I can help you set a price that will be attractive to Buyers, especially in today’s market.
Develop a Marketing Plan
The next step is to develop a Marketing Plan that gets your home or property in front of Buyers. Even Buyers in other countries! I utilize all forms of Social Media and the Multiple Listing Service. I also advertise in traditional trade publications. These methods ensure your home or property is being seen by Buyers everywhere!
Completion of Listing Documents
The following documents will be completed during the Selling Process.
The Listing Agreement document is the main body of the listing contract. This document will cover all aspects of listing your home for sale with a Realtor, including a definition of the asking price, terms of the agreement, and the real estate marketing fee.
The Disclosure/Disclaimer Statement is a form that must be filled out by the Seller of any home or property, to disclose pertinent facts, defects, or latent details about the property. If the Seller has never occupied the property, they are allowed the right to disclaim knowledge. However, all owners must disclose any known latent defects.
The Understanding Whom The Real Estate Agent Represents document was created by the National Association of Realtors to explain whom the real estate agent represents in a particular real estate transaction.
The Consent for Dual Agency document explains how a dual agency situation may occur when selling a property with a Realtor and ensures that Buyers and Sellers understand their rights of representation.
Several other documents may be added to the Listing Agreement by the Real Estate brokerage where deemed necessary to complete the listing agreement process.
While the Home or Property is Listed for Sale
You have one chance with a Buyer to make a great first impression. Don’t blow it. I have years of experience selling homes and I will work with you to identify shortcomings in your home or property that should be fixed before listing it. I’ll provide tips that make your home show well! For example, bake a batch of brownies just before a showing – your home will smell homey and wonderful.
Negotiating an Offer
Buyers make all kinds of offers; some offers may not meet your expectations. Don’t worry if the first offer that comes across the table doesn’t meet your expectations. This is why you are working with a Real Estate professional, I am an expert negotiator. I will work with you to determine a counter offer that ultimately brings in a sale.
Inspections and Contingencies
Home Inspections are performed to ensure that the home meets certain standards. Because I live in Deep Creek Lake, I know many members of the local community. I can point you in the direction of companies that can assist in taking care of issues raised during the Inspection process.
After you accept an offer and before settlement, you need to do the following:
Move any furniture or personal items out of the home as determined by the contract agreement.
Notify the various utility companies to transfer service to the new owners.
Notify your insurance agent that you have sold the property.
Notify the local postmaster that you have sold the home.
The Seller need not attend the Settlement. Many Deep Creek Lake Title companies allow the Seller to complete the closing via mail, fax, or email.