Listing Your Home



Pricing Your Home

Setting the proper asking price for your home is the single biggest factor that will determine the success or failure of your home sale. The consequences of making the wrong decision are painful. If you price your home to low, you will literally give away thousands of dollars that could have been in your pocket.

Price it too high, and your home will sit for months, developing the reputation of a problem property (everyone will think that there is something wrong with it).

Failure to understand market conditions and properly price your home can cost you a bundle or cause your home not to sell….preventing you from achieving your goal. We Won’t Let This Happen To You!

Utilizing the latest computer technology and our in depth knowledge of the market, we will analyze current market conditions in combination with your personal time requirements to identify the correct price range for your home.

You can’t afford any guesswork in this critical step.

Benefits of Proper Pricing

FASTER SALE

The proper price gets a faster sale, which means you save on mortgage payments, insurance, and other carrying costs.

LESS INCONVENIENCE

As you know, it takes a lot of time and energy to prepare your home for showings, keep the property clean, makes arrangements for children, and generally alter your lifestyle. Proper pricing shortens market time.

INCREASED SALESPERSON RESPONSE

When salespeople are excited about a property and its price, they make special efforts to contact all their potential buyers and show the property whenever possible.

EXPOSURE TO MORE PROSPECTS

Pricing at market value will open your home up to more people who can afford it.

BETTER RESPONSE TO ADVERTISING

Buyer inquiry calls are more readily converted into showing appointments when the price is not a deterrent.

HIGHER OFFERS

When a property is priced right, buyers are much less likely to make a low offer, for fear of losing out on a great deal.

MORE MONEY TO SELLERS

When a property is priced right. The excitement of the market produces a higher sales price in less time. You NET more due to the higher sales price and lower carrying costs.


OBSTACLES TO PROPER PRICING

Incompetent Agents - who will accept a listing at any price the seller puts on it.

Neighbors - who lead the seller to believe they got more for their house than they actually did.

Inflationary Times - that cause prices to go up rapidly because of economic factors.

Recessionary Times - that cause prices to go down because of adverse economic conditions.

The Market - when drastic changes in supply and demand alter a home's worth.

Loss of Perspective - due to the seller being emotionally involved and losing their objectivity.

Need for a Certain Amount of Cash - has nothing to do with value no matter how important the reasons.


DANGERS OF OVERPRICING

Many potential buyers won't even look, thinking it's out of their range.

Those buyers who do look are shopping by comparison, and looking at your home may convince them to make a bid on a different property.

Since an appraisal is often required in financing a property, it's futile to price a property for more than it's worth.

Often the first question buyers ask is, “how long has it been on the market?” Properties left on the market for extended periods of time usually become "shopworn" which causes many to believe something's wrong with it.

Overpricing tends to dampen the other salesperson's attitude, making it less likely to be shown.

Overpricing lengthens marketing time, and invariably results in a lower selling price than would have been otherwise obtained.



Getting Your House Ready to Show to Buyers

A house that "sparkles" on the surface will sell faster than its shabby neighbor, even though both are structurally well maintained.

From experience, REALTORS® also know that a "well-polished" house appeals to more buyers and will sell faster and for a higher price. Additionally, buyers feel more comfortable purchasing a well-cared for home because if what they can see is well maintained, they assume that what they can't see has probably also been well maintained. In readying your house for sale, consider:

how much should you spend to prepare your house for sale?

exterior and curb appeal

interior appeal

Before putting your house on the market, take as much time as necessary (and as little money as possible) to maximize its exterior and interior appeal.

HOW MUCH SHOULD YOU SPEND TO PREPARE YOUR HOUSE FOR SALE?

In preparing your home for the market, spend as little money as possible. Buyers will be impressed by a brand new roof, but they aren't likely to give you enough extra money to pay for it. There is a big difference between making minor and inexpensive polishes and touch-ups to your house, such as putting new knobs on cabinets and a fresh coat of neutral paint in the living room, and doing extensive and costly renovations, like installing a new kitchen.

Your REALTOR® is familiar with buyers' expectations in your neighborhood and can advise you specifically on what improvements need to be made and which improvements are most effective. Don't hesitate to ask for advice.

MAXIMIZING EXTERIOR AND CURB APPEAL

When preparing to put your home up for sale, your first concern is the home's exterior. If the outside, or "curb appeal" looks good, people will more than likely want to see what's on the inside.

Here are some tips to enhance your home’s exterior and curb appeal to buyers:

  • Keep the lawn edged, cut and watered.
  • Regularly trim hedges and weed lawns and flowerbeds.
  • Be sure your front door area has a "Welcome" feeling.
  • Paint the front door.
  • In spring and summer, add a couple of pots of showy annuals near your front entrance.
  • In snowy areas, keep walks neatly cleared of snow and ice.
  • Check foundation, steps, walkways, walls and patios for cracks and deterioration, and fix any problem areas.
  • Remove and repaint any peeling paint on doors and windows.
  • Clean and align gutters.
  • Inspect and clean the chimney.
  • Repair and replace loose or damaged roof shingles.
  • Repair and repaint loose siding and caulking.
  • Reseal old asphalt.
  • Keep the garage door closed.
  • Store RVs and old cars elsewhere while the house is on the market.

MAXIMIZING INTERIOR APPEAL

You want your home to look as spacious, bright and clean as possible. Also the home should look neutral – without a lot of your personal and sentimental objects - so buyers can begin to imagine living there.

Here are some tips to enhance your home’s interior appeal to buyers:

Give every room in the house a thorough cleaning and remove all clutter. This alone will make your house appear bigger and brighter. Some homeowners with crowded rooms actually rent storage garages and move half their furniture out, creating a sleeker, more spacious look.

  • Use a professional cleaning service every few weeks while the house is on the market.
  • Remove the less frequently used, and even daily-used items from kitchen counters, closets, basement and attic to make these areas more inviting.
  • Make sure that table tops, dressers and closets are free of clutter.
  • Pay special attention to the kitchen and bathrooms: they should look as modern, bright and fresh as possible. It is essential for them to be clean and odor free.
  • Repair dripping faucets and showerheads.
  • Buy showy new towels for the bathroom, and put them out only for showings.
  • Spruce up a kitchen in need of more major remodeling by installing new curtains and cabinet knobs, or applying a fresh coat of neutral paint.
  • Clean walls and doors of smudges and scuff marks.
  • If necessary, repaint dingy, soiled or strongly-colored walls with a neutral shade of paint, such as off-white or beige. The same neutral scheme can be applied to carpets and linoleum.
  • Check for cracks, leaks and signs of dampness in the attic and basement, and fix any problem areas.
  • Seal basement walls if there are any signs of dampness or leakage.
  • Repair cracks, holes or damage to plaster, wallboard, wallpaper, paint and tiles.
  • Replace broken or cracked windowpanes, moldings and other woodwork.
  • Inspect and repair the plumbing, heating, cooling and alarm systems.



5 Steps to Get Your Home Sold


OUR LISTING PROCESS –

WE WILL…

Prepare a Competitive Market Analysis of your home

Determine the best possible price in today’s market.

Complete and review the listing agreement with you.

Prepare your home for sale. We will spend as much time as needed going over the entire property with you, both inside and outside. We will make a list, with you, of suggestions and recommendations about your home so that it will be seen at its highest perceived value while competing in the marketplace.

Install lockbox and our exclusive “For Sale” sign.


OUR MARKETING PROCESS –
WE WILL…

Tours: Personally plan and conduct an office tour of your home.

The Multiple Listing Service: Professionally represent your home to the MLS. As a result, your home will be exposed to every Real Estate agent in Southeast OK.

Flyers: Professionally create, produce and distribute a flyer for local real estate offices and general advertising purposes.

Just Listed Postcards: Professionally create, produce and distribute just listed postcards to the surrounding neighborhood to promote your property.

Open Houses: Hold open houses when appropriate.

Internet: Expose your home to millions of potential Buyers through more than 200 websites including www.EufaulaLakeshoreRealty.com; www.Realtor.com; www.Lakehouse.com; www.Zillow.com; www.Trulia.com; www.Homes.com; www.Craigslist.com; and many many more.

QR Code Plan: Knowing that 53% of Buyers find their homes by seeing a real estate sign, we will create a linked QR Code in order to allow potential buyers who drive by and scan the code to see the information on your property.

Virtual Tour Plan: We will create a Virtual Tour of your home for potential buyers to view online.

Home Warranty Plan & Fast Track Program: A home warranty and early inspections can go a long way toward enhancing the marketability of your property by building Buyer confidence and peace of mind. We will encourage you to investigate the benefits of both. Ask us about these options.

Agent Rapport: I strive to motivate agents to show and sell your property through my own personal contacts. I constantly work to maintain a high rapport with the working agents in our area.


MY COMMUNICATION WITH YOU –
WE WILL…

Keep our communication with you honest and will not tell you something just because you want to hear it.

Verbally keep in touch at least once a month as our work for you progresses.

Be available when contacted, to present any offer that is written on your property.

Qualify all purchasers to the best of our ability.

Keep current on market conditions so we can provide you with sound advice when considering an offer.


CLOSING YOUR TRANSACTION -
WE WILL…

Constantly keep you informed as to the progress of your sale from the time of signing until the closing.

Work hard to handle any situation that may arise with mortgage companies, title companies, appraisers, underwriters, inspectors, purchasers and other agents during the time your property is under contract.

Be present at your closing. This is what we’ve worked to achieve and you’d better believe we’ll be there!


OUR FOLLOW-UP -
WE WILL…

Be available during those post-closing days when you’ll be having questions and concerns.

Be following up on your transaction after you’ve moved on. This includes being on my exclusive mailing list, not to mention an occasional phone call just to see how it’s going

These are the Steps we will take for you to help you achieve your goals. We look forward to serving you.



11 Strategies to Net You The Most Money

In order to sell your property for the most amount of money in the least amount of time you must have maximum exposure of your home/land to the marketplace. Below is a list of 11 key services that agents should use to provide you with maximum exposure. The marketing plan should include:

1.  REALTOR® with a top list-sell ratio

2.  REALTOR® being a member of the Multiple Listing Service and entering your property on the MLS

3.  REALTOR® who is in the top 10 in their area for number of listings and sales volume

4.  Marketing plan to reach other real estate professionals. (After all, who has the largest pool of buyers for real estate? Other real estate agents do. Ask the real estate professional if their office pays a higher fee to their associates if they sell an in-house listing. Also ask them if they split the real estate fee 50/50 with another real estate professional who sells your home. If the answer to the first question is "yes" or the answer to question #2 is "no," move on. This takes away from maximizing the potential of your home being sold by real estate professionals outside their office.

5.  Call or email capture of some sort included in the marketing plan for your property

6.  Listing appears on the top five real estate websites on the internet with maximum pictures.

7.  Listing appears on the Company Website

8.  Company/agent appears on page 1 of major search engines for the area

9.  Staging services are available to help you present your home for showings

10.  Agent has "Just Listed" and/or "Featured Home" print media plan for advertising

11.  Company Service Guarantee to assure your satisfaction.

These are not the only marketing strategies but these are some of the most important ones. If you have chosen a REALTOR® that utilizes these strategies, you can feel confident s/he will most likely do a good job for you.



Strategies to Understand

It is important for sellers to understand certain strategies and formulas in the listing and selling process to net you the most money.


LIST-TO-SELL RATIO

First, make sure you know your REALTOR®’S List-to-Sell Price ratio. The final sale price (what a buyer pays for the home) divided by the last list price expressed as a percentage. If it's above 100%, the home sold for more than the list price. If it's less than 100%, the home sold for less than the list price. Looking at sale-to-list percentages can help buyers and sellers get a sense of how to negotiate on pricing.

Let’s say a REALTOR®’s List-to-Sell Ratio is 93%. That means if you list your property with this REALTOR® you should expect to net 93% or better of your listing price. (This is provided that you will list your home within 5% of the Comparable Market Analysis suggested list price.)

Before you list with a REALTOR that offers you a lower fee rate, make sure you have done the math to know if in fact a lower commission will net you more. If the REALTOR has a lower list-to-sell ratio you may find out that you actually net less. Do the math: Take the list price X the list-to-sell ratio – the commission = probable net amount you will walk away with. Check it out.


ABSORPTION RATE

Knowing the area absorption rate is important for you as a seller to know to give you some idea of how long it might take to sell your home.

The absorption rate is the rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the total number of available homes by the average number of sales per month. The figure shows how many months it will take to exhaust the supply of homes on the market. A high absorption rate may indicate that the supply of available homes will shrink rapidly, increasing the odds that a homeowner will sell a piece of property in a shorter period of time.

Example of Absorption Rate Calculation - Let's say that we take the number of settled sales for the last six months in a certain area, and it is 120. We then check the current number of active listings, and it is 520 in that area. First, divide the 120 sales by 6 months, to get a rate of 20 closings per month. Then, divide the 520 active listings by 20 to arrive at 26 months to move that inventory; that's the absorption rate


DAY ON THE MARKET (DOM)

Knowing the average days on the market for all properties sold in a given time period is helpful information to you as a seller to know what to expect for the time frame to get your home/land sold. If the average days on the market is 129 days (which it was in this area for October, 2013) and your home has a contract on it in 90 days – you and your REALTOR® are ahead of the averages! On the other hand, if your home has been on the market for 150 days and you have not had an offer, it is time to talk with your REALTOR® about what you can do to spruce up the property, lower the price and/or talk about the marketing plan. Remember, homes do not sell for two reasons – priced incorrectly or poor marketing.



Contracts & Negotiations

When an offer is presented on your home, you will have three basic choices in deciding how to respond:

Accept the offer.

Reject the offer.

Make a counter offer.

Together we will thoroughly analyze the offer. We will discuss its strengths and weaknesses and determine whether or not it meets your primary goals. After scrutinizing the entire contract, we will share our recommendations, and then you will decide how to respond.

This is where a professional, competent agent can be worth their weight in gold, because having the right wording or contingency clause in the contract can mean the difference between a smooth transaction and a messy process.

Being intricately familiar with real estate contracts, we know how to protect your best interests. Our experience in negotiations will benefit you.

If you would like to preview the contract and supporting documents you will need to sign once we find a buyer, just ask. We will be glad to forward you a sample.