eXp Realty - Real Estate Agent

YOUR HOMES VALUE

| SELLERS

If you're considering selling your home, you might explore the option of doing it yourself instead of partnering with an experienced real estate agent. While it’s certainly possible and has been done before, be ready for a significant amount of effort! If you lack the time, energy, or need to sell quickly, this approach might not be the best fit for your situation.

If selling your home on your own feels overwhelming, consider assist-to-sell programs offered by many real estate agents. These programs often include yard signs, marketing strategies, and flyers, all at an affordable cost. Most of the time, individuals lack the time and resources that a dedicated real estate agent can provide. Hiring a professional ensures your property is marketed effectively, benefits from extensive resources, and is positioned to achieve the best possible price.

Regardless of whether you decide to work with a real estate agent, it’s important to do your research!

Here’s a checklist to guide you through the process:

- Know your property

Make sure you're familiar with key details about your property, such as property taxes, zoning, lot size, square footage, and more. Also, review the terms of your current loan.

- Research the current market and property laws in your area

What is the selling price of properties similar to yours? What are the conditions of these sales? What property disclosure regulations should you be aware of?

- Set the price

After gathering details about your home and researching the selling prices of comparable properties in your area, determine a competitive and realistic price.

- Determine financing alternatives.

Reach out to lenders in your area to explore the available options for your potential buyer. Being well-informed beforehand will help you answer their questions confidently, as a lack of knowledge could discourage them from working with you.

- Perform a “walk-through” of your property.

Consider the situation from both the buyer's and inspector's viewpoints. Make a list of all items that require repair or replacement. Key factors to take into account include:

Outside:

- Does it require a fresh coat of paint, either due to noticeable cracking or fading, or because of an unconventional color choice that could deter potential buyers?

- Is the lawn and landscaping of the house with a yard well- maintained and visually appealing?

- For a condo, you can't change much about the building itself, but does the front door and, if applicable, the balcony make a good first impression?

- Are the windows and doors visually appealing and well- maintained?

- Are the roof and gutters in good shape?

- Is the lawn well-maintained, with the hedges neatly trimmed and leaves cleared away? Are all outdoor items like bikes and scooters stored properly?

Inside:

- Are the interior paints and finishes in good shape (recently updated), or do they need a refresh? This is an area where a small investment can yield a high return. By giving your home a fresh, well-maintained look, you can greatly enhance its appeal and positively influence the sale.

- Are the appliances in proper working condition and relatively new?

- Are the plumbing and electrical systems in proper working order? Are they fully operational?

- Are the carpets or other floor coverings clean and in good condition? Similar to the paint, do they look appealing and well- maintained? Investing in quality floor coverings can help ensure your home leaves a positive impression.

- Are the sealants around the sink, shower, tub, and windows in good condition?

- Are all light fixtures functioning correctly, and is there adequate lighting in every room to ensure prospective buyers don't feel like something is being hidden?

Know your neighborhood

- Many potential buyers will likely inquire about local schools, shopping, parks, transportation, and other amenities. Be ready with information so you can confidently address their questions.

SELLING YOUR HOME

The Next Move Is Yours

Step 1: Defining Success

Outlining Your Objectives

• What motivates you to sell?
• What is your desired timeline for moving?
• Where are you planning to move?
• What factors are most important to you?

Understanding the Market

• Market Trends: Macro vs. Micro Factors
• Market Drivers: Supply & Demand
• Review of Active, Pending, & Closed Transactions
• Individual Timing & Seasonal Factors

Your Home: Strategic Planning

• Highlight Features & Benefits
• Identify Key Differentiators from Current Listings
• Pinpoint Key Differentiators Based on Available Inventory

Step 2: Listing Details

Finalize Documentation & Contractual Agreements

• Finish Property Enhancements
• Hire Staging Expert
• Secure Photography and Media Professional
• Schedule Trusted Advisor Consultation
• Establish Launch Schedule

Marketing Preparations

• Property Launch Materials
• Traditional Advertising Approach
• Digital Marketing Strategy
• Social Media Plan
• Broker Network Outreach
• Showing Approach
• Cross-Promotion Tactics

• National Buyer Strategy
• Global Buyer Strategy

Step 3: Introducing the Property

Launching the Marketing Plan

• Creating a Strong Perception of Value
• Engaging & Qualifying Potential Buyers
• Ensuring Safe Showings
• Tracking Buyer Interest
• Weekly Reports, Updates, & Ongoing Communication Strategy
• Adapting to Market Changes

Negotiating Strategies

• Obtain Written Offers
• Assess and Evaluate the Strength of Each Offer
• Craft Strategic Responses to Offers
• Negotiate to Maximize Price and Terms
• Implement Multiple Offer and Back-Up Offer Strategies

Step 4: Escrow Process

Escrow Process
• Complete Disclosures

Closing
• Moving from the Property
• Completion of Documentation
• Closing and Celebrations

Working Together Again
• Maintaining Connection & Keeping You Updated on
Vacation Homes & Investment Opportunities
• Offering Valuable Resources
• Reviews, Testimonials, & Referrals

ESTABLISH A MARKETING BUDGET

How much are you willing to spend to sell your house?

- Real estate commission if you use an agency to sell.

- Prorated costs for your share of annual expenses, such as property

taxes, home owner association fees, etc.

- Advertising costs, signs, other fees if you plan to sell by owner.

- Any other fees typically paid by the seller in your area (surveys,

inspections, etc.).

- Attorney, closing agent and other professional fees.

- Real estate agents deal with transactions every day and can give.

you a very close estimate of seller closing costs.

- Excise tax for the sale.

Explore the real estate sections in local newspapers and other publications.

What will give you the most value for your money? Are there any free real estate publications in your area that allow individual sellers to place ads? In your local newspaper(s), is it more effective to run a text-only classified ad, or do they offer “photo boxes” that let you include both text and a photo of your property?

Don’t forget the Internet

As you've likely noticed from the website hosting this article, most real estate agents have their own websites featuring their clients' listings and access to the full MLS search. When you work with an agent, your property is typically included on their website and the broader MLS search as part of the services they provide. Additionally, many newspapers offer online advertising alongside their traditional print ads, either automatically or for an additional fee. Be sure to research the rates and deadlines for each publication and determine which options are the best fit for you and your target market.

Establish a marketing plan

Now that you have an understanding of the advertising costs, develop a strategy to effectively reach potential buyers within your budget, targeting both local and out-of-town audiences. Since many buyers relocate from other areas, it's essential to include online advertising in your plan. If your town is large enough, consider checking if the local newspaper offers a national edition where you could periodically place your ad.

Write the text and/or design your ad

At a minimum, you'll need a well-crafted set of sentences for a classified or photo box ad. You might also choose to create a larger, custom-designed ad for use in newspapers, as flyers at open houses, or other places where you might connect with potential buyers. Don’t cut corners on this—an appealing, professionally designed ad can draw in buyers, while a poorly executed one might discourage interest in your property. Even without full-service agent representation, you could explore assist-to-sell services offered by some agents at a lower cost.

- Purchase and install a “for sale” sign

The sign should be well-designed, visually appealing, and weather-resistant. It needs to be positioned in a spot where it is easily visible from the street. If you're working with an agent, they will likely supply the sign for you.

- Prepare a fact sheet

Create a one-page flyer highlighting your property's key features and benefits to attract prospective buyers. Ensure the design is both professional and visually appealing. Print enough copies to distribute at open house events. If you're working with a real estate agent, they will typically handle this task for you.

- Purchase “open house” signs

Ensure the signs include space to write your property's address and the date/time of the open house. Along with placing one in your front yard, consider positioning additional signs in visible locations throughout the neighborhood, such as on main streets leading to your property. Use directional arrows to guide potential buyers to your house, even if they're unfamiliar with the area. Be sure to take down all the signs promptly once the open house concludes to avoid unexpected visitors showing up at odd hours.

- Set up a schedule of open houses

While most are held on the weekend, this is not convenient for all buyers. Make sure that you coordinate your print advertising to include information about your next open house.

- Get your forms in order

Several forms are required to legally sell your property. Along with the purchase agreement and any counteroffers, sellers must provide buyers with around 20 additional forms. It’s essential to carefully review the contract to understand the deadlines for these documents and the buyer’s rights upon receiving them. The content and format of many of these forms are governed by state or federal law and must be fully complied with. You can obtain the appropriate forms through your local Board of Realtors or from your real estate agent.

Negotiate final terms of the sale

Buyer(s) need to come to an agreement (in writing) regarding the following:

- Price

- Date of closing

- Inspection contingencies

- Date of possession

- Financing terms

- It’s advisable to have an attorney review all contracts thoroughly.

before finalizing the deal.

Final walk-through

When both the buyer(s) and a witness can attend, arrange a final walk-through prior to settlement to ensure the property being transferred aligns with the expectations of all parties involved.

Find and make arrangements for the home you will be moving to

If you haven’t already purchased or built a new home, you’ll need to navigate being both the “buyer” of a new property and the “seller” of your current one at the same time. Ideally, aim to schedule the closings for both transactions to occur simultaneously, or have your purchase close slightly ahead of your sale. Remember, you’ll need to move out before the new owners take possession of your current home.

SELLERS

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