Information for Sellers
There is a lot of possible reasons to sell. Understanding the home seller’s reasons will allow us to set a proper path and marketing system to sell at best terms and with minimal disruption to your daily routine. These are the steps to take:
- Market Evaluation to establish best price and marketing
- Preparation of the listing and marketing systems
- Market updates and followup with the home Seller
- Negotiations of price and terms
- Inspection and Conditions
- Followup to successful closing
Home Seller’s initial consultation with your realtor should clearly establish your goals and allow for an up to date Market Evaluation. It will also set the stage for the listing to be prepared, measurements taken and marketing to be set up. Depending on the property, photo or video tours may also be prepared.
Showing instructions and best way to communicate these showings with you should be established right up front to avoid potential misunderstanding.
Followup with other agents is an important activity as it will gauge interest in your property and provide feedback if there are any potential issues.
Obviously, price and terms negotiations are very important and an informed plan must be set up and communicated. This is the most important part of the selling process and the culmination of all efforts. Successful negotiations will be followed by potential home inspection and conditional period. We can guide you through all the steps and procedures, right up to successful closing of the sale.
Your Initial Consultation and Price Evaluation.
Home Seller consultation should consist of the following:
- Establish reasons for selling
- Establish time frame to complete the sale
- Discuss inclusions and exclusions
- Discuss property taxes and mortgage payouts
- Cover all legal aspects of the transaction
- Take measurements to prepare for listing
- Answer any outstanding questions
- Prepare for Market Analysis
Listing Procedures and Showings.
- Listing price. It should be established following review of the Market Analysis. Clear discussion and understanding of the market is very important.
- Listing completed and home available for sale. All paperwork reviewed and signed. Marketing starts and should include flyers, photo or video tours, online marketing etc.
- Showings. Proper procedures to be followed must be established to avoid potential stressful situations.
- Followup. Agent should follow up with you on any feedback and market changes.
There are steps that should be taken before any offers are reviewed.
- Preview of blank documents. Should you be receiving more than one offer (multiple offer situation) it is advised that a sample or blank ‘offer” is previewed so that you become familiar with the documents.
- Updated Market Analysis. It is best to review the latest information available and see what similar properties have been sold since you listed your property for sale.
- Review your negotiating plan. Is the price the deciding factor? Can we also keep other things as bargaining items? Many options to discuss here.
- Actual presentation(s). Review the offer that you have received, privately discuss pros and cons and decide on your next course of action. Many potential hazards here! Make sure you follow steps and procedures suggested by your realtor, specially in multiple offer situations!
- Negotiations. It could go on for a long time so patience is imperative. So is keeping your cards close to your chest.
- Acceptance. Following successful negotiations, acceptance of all paperwork. If deal conditional, taking steps to ensure the conditions are met, if in your power.
Follow up to successful sale.
There are steps that need to be taken to complete the deal you may have just negotiated.
- Home Inspection. If you had a home inspection condition in your offer, be prepared for 2-3 hour home inspection.
- Survey. If there was a request for a survey, make sure you provide it in a timely fashion.
- Lawyer. Your Agreement and all necessary documents should be delivered to your lawyer as soon as possible.
- Followup. As realtors, we follow up with all sides of the transaction to ensure smooth closing.
- Packing. Have a packing plan or contract a good moving service provider.
- Closing day. Success! Your lawyer will do the legal transfer and your movers will take you to your next residence.