Are you ready to sell your home?
If you are local and ready to sell your existing home, you will have the benefit of some of the most sophisticated marketing tools in the real estate industry. When your home is brought to market, you will be presented with key data to ensure you are receiving top market value from qualified buyers.
We would like an opportunity to meet with you and explain the most advantageous marketing strategy for your home. We don’t simply list a property. We market and sell your property.
To help prepare you for a successful home selling process, this section delves into a variety of topics related to selling a home, including:
Our Role as Your Agent
We know how to sell homes. Successful home sales balance four components: the market, price, condition of the house, and exposure. Because real estate agents know about market trends and the other houses in your neighborhood, we’re well equipped to leverage your home’s advantages. Plus, we:
- have access to people who are most likely to buy your home
- only bring you pre-approved buyers
- will list your property in our MLS and over 800 home search portals
- will advertise your home globally
When to Contact a Real Estate Agent
For an immediate response, please call, text or email. You can also use our pop-up form. Late spring and early fall are prime listing seasons because houses tend to “show” better in those months. And of course, people like to do their house shopping in pleasant weather. But keep in mind that there are also more houses on the market during peak seasons, which means you’ll have more competition. While there is seasonality in the real estate market, it shouldn’t completely dictate your decision of when to sell.
Even if you’re under no pressure to sell, waiting for particular market conditions is not likely to increase your profit potential. While you’re waiting for conditions to improve, you are continuing to make mortgage and insurance payments, and HOA payments (if applicable). This increases the amount of money you invest in your home while the price of your next home may also be increasing.
How Long it Takes to Sell
Average listing times vary from 14 to 90 days, depending on a variety of factors. When your property is first put on the market, creating a perception of value and a sense of urgency will get you the greatest number of showings.
Buyers who look at your property in the first few weeks are typically financially qualified and have been working with their own Realtor®. They will likely have seen other properties in the area, and know about market prices. They contacted agents months ago about properties they found, and are prepared to make offers when they see the right home at the right price.
By the third week, the number of showings will likely drop. From this point, most potential buyers are just entering the market and may not be ready to make a decision. They still have to arrange financing and have not seen enough properties. So, your best opportunity is during the initial exposure to the market. This is when you’ll have access to the largest pool of buyers, and when properties sell at the highest price.
Buyer perceptions of the value may decrease with every day a house is on the market. This is another reason a property will most likely sell at its highest price within its first few days on the market.
Pricing Your Home
Your home is only worth what a buyer in the current market is willing to pay; in other words, fair market value. This is the highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase. It is usually not the asking price.
You will know if your home is priced right by the number of showings:
- If a property is overpriced, buyers and agents will notice it when it hits the market, but there won’t be a perception of value. Therefore there will likely be no showings or offers.
- If a property is priced close to buyers’ perception of current value, there may be some showings, and possibly an offer below the asking price. Without competition and a sense of urgency, there is no need for a buyer to offer the asking price.
- If the property is priced a little below buyers’ perception of value, it could become a hot property. There may be numerous showings and as a result, the home may attract multiple offers. By setting the price slightly lower, this strategy may stimulate the conditions found in an appreciating market, and ultimately sells more quickly and possibly for more than the asking price.
It is our job to watch the market and determine how your property stands out against the competition.
To get an estimate of fair market value, plus details on recently sold homes, we can provide you with a thorough Comparative Market Analysis using our Coldwell Banker presentation software. It’s called Cbx and is perhaps the most advanced pricing analysis tool in the residential real estate industry today.
Putting Your Home’s Best Foot Forward
Unless your house is nearly new, chances are you’ll want to do some work to get it ready to sell. What type and how much work depends largely on the price you’re asking, the time you have to sell, and of course, the present condition of your home. As a general rule, stick to light, neutral colors. Keep your yard and all rooms free of clutter. Remember, when a buyer looks at a house, he or she is trying to imagine living there. Create as clean a canvas as possible. Here are a few low-cost ways to present your home in the best light:
“Curb appeal” is critical, it’s the first thing a buyer will see. New paint, an immaculate lawn, picture-perfect shrubbery, a newly sealed driveway, potted plants at the front door – put them all together and drive-by shoppers will probably want to see the rest of the house.
People may look behind closets and crawl space doors, as well as those to the bedrooms and bathrooms. So get rid of all clutter; have that garage sale and haul away the leftovers.
After you’ve cleaned, try to correct any cosmetic flaws you notice. Paint rooms that need it, re-grout tile walls and floors, remove or replace worn-out carpets. Replace dated faucets, light fixtures and handles on your kitchen drawers and cabinets. Clear as much from your walls, shelves and countertops as you can. Give your prospects plenty of room to dream.
Certain higher-cost home improvements have proven to add value and could speed the sale of house. These include: adding central air conditioning to the heating system, building a deck or patio, doing some kitchen remodeling, and adding new floor and/or wall coverings, especially in bathrooms. Improvements that return less than what they cost are generally items that appeal to personal tastes, like adding fireplaces, wet bars, swimming pools, or converting the garage into an extra room.
For more information on getting your home ready to show, we provide you with a Home Selling Checklist.
Investing in Repairs or Renovations
You’re unlikely to sell for more than 15% above the median price of other houses in the neighborhood, whether you do $1,000 worth of work or $50,000. You might want to analyze the viability of recouping the cost of any major renovations before you start the work.
For a complete list of people who can help you make smart updates to your home, especially for larger jobs involving mechanical systems (heating, electrical, plumbing) or local building codes, contact a licensed home improvement company.
This is particularly important because if the buyer’s inspection reveals major problems with your home’s structure or mechanical systems, they can negotiate to have them fixed properly. Sometimes, repairs may be required before the transfer of title takes place. This is especially true in sales that involve financing insured or guaranteed by the government (FHA/VA loans, for example).
You may have also heard about lawsuits involving sellers who failed to disclose problems before the sale, such as an addition to the house that wasn’t built to code or the presence of lead-based paint. Most states maintain very specific disclosure laws and require sellers to provide buyers with a completed and signed Property Condition Disclosure Form.
These are just a few reasons to retain a lawyer or real estate agent who knows as much about the condition of your property as you do. It’s also a good idea to get the buyer’s written acknowledgment of any major problems when you accept their offer. A Coldwell Banker Home Protection Plan offers protection for you and your buyer, covering repair or replacement costs for breakdowns to most major systems and built-in appliances up to a year or more after the date of closing.
The Taylor Team will list your home in the Multiple Listing Service (MLS), a system that reaches millions of buyers around the world. The system enables brokers to share commission on the sale of houses. For example, if you list your home with one broker and another broker actually sells it, he or she shares the commission. The advantage to you is clear: More brokers have an interest in selling your home.
Fewer than 5% of buyers actually purchase the first house they call an agent about. So we will design advertising to “find the buyer” with appealing layouts, eye-catching photos and professionally written descriptions. We also use multiple channels—online, print, and direct mail.
As another valuable part of the marketing process, we offer open houses to prospective buyers who want a low-pressure, “browsing” atmosphere. If you have an open house, you shouldn’t expect it to generate a sale, at least not directly. What you can expect is increased showings of your home after the event.
Agents often hold an open house for other agents shortly after a house is listed. This type of event, usually held mid-week when other agents can give it their full attention, can be as important as your listing in the MLS. The more professionals who see your home, the more prospects you’re likely to reach.
You and your pets should definitely plan to be out of the house during any open house. The same goes for showings to prospective buyers. People often feel uncomfortable speaking candidly and asking questions in front of current owners. You want them to feel as free as possible to picture your home as their own.
Closing the Sale
We’ll help you prepare by giving you a step-by-step preview of the entire process. We’ll also make sure you bring all necessary documents and other information.
We will be at the table when you close the sale and hand over the keys. The lender and the title company will also be there. Once all of the documents are signed, the home is sold. Congratulations!
We’ll help make the experience of selling your home as smooth and easy as possible. Even if you’re not ready to list your home and simply have questions about the local market, price or mortgage trends, you are welcome to contact us!