Step 1: Find an agent
When selecting an agent be sure they:
- Provide a comparative market analysis.
- Provide FEATURED HOME placement and SHOWCASED HOME exposure on Realtor.com.
- Highlight your property on Web sites that attract thousands of buyers each month.
- Advertise your property locally, nationally, and internationally.
- Develop professional brochures and marketing materials.
- Are easily accessible and responsive.
- Network with other agents who can help sell your property.
- Possess the fortitude and savviness to negotiate a solid contract and close the transaction.
Attempting to sell your property yourself is not recommended:
- Only ~10% of For Sale By Owner attempts are successful.
- FSBOs sell for about 26% less than listed properties.
- Major mistakes can be made.
- Real estate agents will contact you claiming to have interested clients.
- Bringing strangers inside your home can be dangerous.
- Buyers may deduct the commission from their offer price, eliminating any potential savings for you.
- Fewer buyers will consider your property because:
- Buyers may be uncomfortable contacting owners directly
- Real estate agents will bring clients to other properties that are listed
- Duplicating the multi-level marketing programs of successful agents is difficult
- Similar to selling something at auction....fewer bidders equates to lower sales price
Step 2: Price your home right
- Analyze comparable sales (comps).
- Buyers avoid over-priced properties.
- Overpriced properties become stale and it is difficult to re-attract buyers.
- It is difficult to re-attract buyers.
- Buyer's loan will be contingent on an appraisal.
- To avoid losing money, do not under-price your property either.
- An appraisal ($200-$500) may be helpful. Real estate agents are not appraisers.
Step 3: Complete appropriate documents
Randall will work with you to complete three easy forms:
- FMLS feature sheet (highlights positive aspects of your home in FMLS)
- Brokerage Engagement (outlines the relationship between you and Harry Norman, Realtors)
- Sellers Disclosure (provided to buyers and describes the property)
Step 4: Prepare your home
Most purchase contracts include an inspection contingency that allows the buyer to inspect and request repairs. Tidy your home and help avoid inspection pitfalls by doing the following:
- Repair any obvious cosmetic defects.
- Make all minor repairs and selected major repairs.
- Repair appliances, fixtures, and leaky faucets.
- Tune-up the heating and air system.
- Make sure the paint is not chipped or flaking. Painting is generally a good return on investment.
- Be sure that the doorbell works, and remove worn out doormats.
- Sweep the sidewalk, mow the lawn, prune the bushes, and weed the garden.
- Clean the windows, inside and out.
- Clean and spruce up all rooms. The bathroom and kitchen must be spotless.
- Stage the home to appeal to a broad range of lifestyles.
- Organize closets.
- Remove clutter and make sure there isn’t too much furniture in any room.
- Remove odors. Several plug in room deodorizers are available, but don’t overdo it.
- Hide the kitty litter and other pet distractions. Some buyers are allergic to pets.
- Do not smoke in the house. Buyers are very sensitive to smoke.
- Place vases of fresh flowers throughout the house.
- Neutralize home by removing all personal photos.
Step 5: Market your home
- Develop professionally designed brochures. (see example)
- Place a premium yard sign if possible. (see example)
- Provide a secure lockbox to control access.
- Encourage other agents to show your home to their clients (networking, caravan, announcements, etc..).
- Advertise and market your property locally, nationally, and internationally.
- Using the maximum number of photos and compelling descriptions, advertise the property in FMLS.
- Promote your property on over 600 Web sites in more than 35 countries.
- Examples of Web sites include harrynorman, ajchomefinder, trulia, Zillow, Realtor, Craigslist, MSN, Excite, Juno, Wall Street Journal, Relohomesearch, and many other popular sites.
- Over 75% of people use Realtor.com when buying or selling property. So Randall has a special Marketing agreement with Realtor.com that provides his customers with premium placement, broader exposure, multiple photos, and direct contact information.
- Thousands of buyers visit Randall's personal Web site each month looking for property, so customers receive a unique selling advantage that can not be found elsewhere.
- Utilizing the latest technologies, be accessible and responsive (buyers want immediate gratification and can be impatient).
- Harry Norman is part of the RELO network, a worldwide relocation service. With over 4,700 offices and 120,000 sales people, this network of independent offices sells more than any other franchise. So your home receives unique worldwide exposure to thousands of buyers relocating to Atlanta.
By implementing a unique multi-level marketing program, Randall promotes your home to the maximum number of buyers to help sell your home fast for the best price.
Step 6: Show your home to prospective buyers
- Make it convenient for agents to show your property.
- Turn on all the lights.
- Open the curtains or blinds.
- Ensure a comfortable room temperature.
- Remove any odors.
- Ensure all rooms are clean and orderly.
- Do not stay in the property when an agent is showing it.
Step 7: Negotiate and execute a contract
Potential buyers will generally complete a Georgia Purchase and Sale Agreement which will include the following terms:
- Offer price
- Earnest money
- Closing attorney
- Closing date
- Possession date
- Inspection terms
- Other special provisions the buyer may request
Randall will review all offers with you to decide the most appropriate response. Randall is experienced in negotiations and can help ensure your interests are being well represented.
Step 8: Inspections and closing
Contract terms can vary; however, upon contract execution the following steps are often necessary:
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- Ensure the buyer qualifies for a loan.
- If the home is being sold for less than the loan, wire funds to the closing attorney
- Provide buyer with access to property for inspections.
- Negotiate any requested repairs.
- A couple days before closing, contact the appropriate companies to have utilities switched.
- A couple days before closing, obtain the Settlement Statement from the lender to review for accuracy.
- On the designated day of closing:
- arrive at attorney’s office 30 minutes early (buyers and sellers)
- bring valid drivers license or passport (buyers and sellers)
- bring all keys and any remotes (sellers)
- bring paid invoice for homeowners insurance (buyers)
- bring your checkbook in case you need to write a check for something
- be sure to leave the new buyer any manuals or warranties
- At closing, the seller will pay their pro-rated share of any taxes, insurance, sanitation, fees, etc…. from the sale proceeds.
CONGRATULATIONS ON THE SALE OF YOUR HOME!