Making the Decision to Sell
PREPARING THE HOME
FOR THE MARKET
Selecting Your Real Estate Agent
Signing the Listing
Behind the Scenes
Your Role While your Home
is on the Market
When we arrive at your home to obtain your signature on the listing agreement, we’ll have much to discuss with you. We’ll explain the process so that you know exactly what to expect at each stage and answer any questions or concerns you may have.
We’ll walk you through the process of showing the home, from how buyers’ agents use the lockbox to your job during the showings.
Aside from the listing agreement, there will be other documents to sign as well. These include those having to do with your legal obligation to disclose. The Natural Hazard Disclosure (NHD) provides the buyer with information about any nearby hazard zones (earthquake, flood, etc.), it discloses tax and special assessment district details as well as other pertinent information.
The Transfer Disclosure Statement tells the buyer about any known defects or other issues with the home. It also contains a section wherein you will be able to check off whether or not certain items are included in the sale (such as a burglar alarm, spa, water softener and others). You will fill out this form (we are prohibited from doing it for you) and it’s important to be completely honest with every item.
There are several other disclosures you will be asked to sign as well.
We’ll discuss our research into the local market and show you our suggested list price. Of course, in the end, how much to ask for the home is your decision. But we will give you our expert opinion of its current market value.
We’ll explain to you that market value doesn’t have anything to do with homes currently on the market, so it doesn’t matter what your next-door neighbor is asking for his home. Because market value is determined by what willing buyers pay for homes like yours, we’re primarily concerned with recent neighborhood sale prices. Sure, we’ll look at listings similar to yours, but they aren’t the ones that determine market value.
By basing your list price on current listings you run the risk of overpricing the home – a dangerous thing to do. Selling a home isn’t anything like selling a car, where buyers will disregard the fact that the car is overpriced and haggle with you over price.
Consider this: If most of the homes in the buyer’s price range have four bedrooms and at least two bathrooms and a minimum of 1,600 square feet of living space, why would they waste their time looking at yours, which may be smaller, older and/or offer fewer amenities yet priced the same?
Fewer potential buyers means the home sits longer on the market and may become stigmatized. This typically leads to making less than you’d hope on the sale of the home.
Let’s price it right from the beginning and have buyers clamoring to see it.