Loans

Your Home's Value

Sellers

Selling a home is indeed a significant undertaking, and it’s essential to weigh the options carefully. Here’s a checklist to guide you through the process, whether you decide to work with an agent or go it alone:

Set Your Goals: Determine your reasons for selling and what you hope to achieve from the sale.

Research the Market: Understand the current real estate market trends in your area, including pricing, demand, and competition.

Price Your Home: Set a competitive and realistic price for your property based on comparable sales in your neighborhood.

Prepare Your Home: Make any necessary repairs, declutter, and stage your home to make it attractive to potential buyers.

Market Your Home: Develop a marketing strategy to showcase your property, which may include online listings, open houses, and signage.

Negotiate Offers: Be prepared to negotiate with potential buyers to reach a mutually beneficial agreement on price and terms.

Handle Legalities: Understand the legal requirements and paperwork involved in selling a home in your area, including contracts and disclosures.

Close the Sale: Work with the buyer, their agent (if applicable), and a closing agent to finalize the sale and transfer ownership of the property.

Stay Organized: Keep track of important documents, deadlines, and communication throughout the selling process.

Be Flexible and Patient: Selling a home can be a lengthy and sometimes stressful process, so remain flexible and patient as you navigate each step.

Whether you decide to sell your home yourself or enlist the help of a real estate agent, thorough preparation and research are key to achieving a successful sale.

Know your property

If you are not already, become familiar with such facts about your property as property taxes, zoning, lot size, square footage, etc. Look at the terms of your existing loan.

Research the current market and property laws in your area.

How much are properties similar to yours selling for? What are the terms of the sales? What property disclosure laws do you need to take into consideration?

Set the price.

Once you know the specifics about your home and have checked out what similar properties in your area are selling for, set a realistic price.

Determine financing alternatives.

Contact lenders in your area to determine what the options are for your prospective buyer. You want to be informed before they ask, or your lack of knowledge may turn them off from dealing with you?

Perform a “walk-through” of your property.

Look at it from the perspective of both the prospective buyer and the inspector. Take notes on all items that need to be repaired or replaced. Things to consider include:

Outside:

Does it need a new coat of paint (either because the old paint is obviously cracked or faded, or because of an uncommon choice in color that might turn off prospective buyers)?
If a house with a yard, is the lawn and landscaping attractive and well-kept?
If it is a condo, you can’t do much about the building, but is the front door (and balcony, if there is one) appealing?
Are the windows and doors attractive and in good condition?
Are the roof (and the gutters) in good condition?
Is the grass nicely cut, are the hedges trimmed, are the leaves swept up? Are all toys put away such as bikes, scooters, etc.?

Inside:

Are the interior paints and finishes in good condition (recently updated), or do they need to be freshened up? This is one area with the best ratio of least expensive to most desired. For a minimal investment, you could possibly make or break a sale by having your home look well-kept and inviting.
Are the appliances in good working order and of recent vintage?
Are the plumbing and electrical systems in good condition? Are they fully functional?
Are the carpets or other floor coverings clean and in good condition? Like the paint, are they attractive and well-kept? Floor coverings are worth paying for so that your home makes a good impression.
Are the sealants (sink, shower, tub, windows) in good condition?
Are all light fixtures working properly, and is there good lighting in each room so that prospective buyers won’t think you’re hiding something?

Know your neighborhood

Most prospective buyers will want to know about the local schools, shopping, parks, transportation, etc. Be prepared so you can knowledgeably answer their questions.

GLOBALLY
CONNECTED

$1.4
BILLION

Sold in 2021

$5
BILLION

In Sales

POWERFUL & EFFECTIVE

Custom Marketing

Selling Your Home

The Next Move Is Yours

Step 1: Defining Success

Outlining Your Objectives

  • What is your motivation to sell?
  • What is your timeline to move?
  • Where are you moving?
  • What is most important for you?

Understanding the Market

  • Market Dynamics: Macro v. Micro
  • Market Forces: Supply & Demand
  • Analysis of Active, Pending, & Sold Transactions
  • Personal Timing & Seasonal Considerations

Your Home: Strategic Planning

  • Outline Features & Benefits
  • Determine Key Differentiators Based on Active Inventory

Step 2: Listing Details

Finalize Documentation & Contractual Agreements

  • Complete Any Property Improvements
  • Engage Staging Consultant
  • Engage Photography and Media Professional
  • Organize Trusted Advisor Meeting
  • Define Launch Timeline

Marketing Preparations

  • Property Launch Collateral
  • Traditional Advertising
  • Digital Marketing Plan
  • Social Media Strategy
  • Broker Network Exposure
  • Showing Strategy
  • Cross Marketing
  • International Buyer Strategy

Step 3: Introducing the Property

Launching the Marketing Plan

  • Creating the Perception of Value
  • Attracting & Qualifying Potential Buyers
  • Safe Showing
  • Monitor Interest
  • Weekly Reports, Updates, & Communication Strategy Respond to Changes in the Market Place

Negotiating Strategies

  • Procure Written Offers
  • Qualify & Analyze the Merits of Each Offer
  • Strategically Respond to Offers
  • Negotiate to Optimize Price & Terms
  • Multiple Offer Process & Back-Up Offer Strategies

Step 4: Escrow Process

Escrow Process

  • Complete Disclosures
  • Complete Disclosures

Closing

  • Transitioning from the Property
  • Final Documentation
  • Closing & Celebrations

Closing

  • Staying in Touch & Keeping You Informed Second Homes & Investment Properties Providing Resources
  • Feedback, 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.
  • Advertising costs, signs, other fees if you plan to sell by owner.
  • Attorney, closing agent and other professional fees.
  • Excise tax for the sale.
  • Prorated costs for your share of annual expenses, such as property taxes, home owner association fees, and fuel tank rentals.
  • Any other fees typically paid by the seller in your area (surveys, inspections, etc.).
  • Real estate agents deal with transactions every day and can give you a very close estimate of seller closing costs.
Inquire Now

Investigate the real estate sections of local newspapers and other publications

What will get you the most “bang for your buck?” Are there “throwaway” (i.e., free) real estate publications in your area that accept ads from individual sellers? In the local paper(s), is it better (in your area) to run a text-only classified, or do they have “photo boxes” where you can run both text and a photo of your property?

Don’t forget the Internet

As you have probably noticed from the website you have found this article on, most agents have their own website, which includes their clients’ listings as well as the entire MLS search. If you work with an agent, your property will most likely be placed on their website and on the full MLS search as part of the services they will offer you. In addition, some newspapers automatically (or for an extra fee) offer Internet advertising tied in to their traditional print ads. Learn the rates and deadlines for each publication, then decide which one (or more) is best for you and your market.

Establish a marketing plan

Now that you know what advertising will cost, create a plan on how to best (within your budget) reach prospective buyers, both local and out-of-town. Since many people do relocate from a distance, be sure to include Internet advertising in your plan. If your town is large enough, the “local” newspaper might have a national edition that you want to place your ad in, at least periodically.

Write the text and/or design your ad

At the very least, you will need a well-written few sentences that will run as a classified ad or a photo box ad. In addition, you might decide to run a larger, custom-designed ad in the paper and/or to use as flyers to hand out at open houses (or anywhere else you might meet prospective buyers). Don’t skimp on this. A professional, well-crafted ad can attract buyers while a poorly designed and executed one can turn buyers off to your property. Even if you do not have full service agent representation, you may consider assist-to-sell, which some agents offer at a lower price.

Write the text and/or design your ad

This should be well-designed, attractive and weatherproof. The sign must be placed where it can clearly be seen from the street. If you are working with an agent, he or she will most likely provide the sign to you.

Prepare a fact sheet

Design a single sheet description of your property listing the features and benefits that will draw in prospective buyers. This should be attractive and professional looking. Have enough copies on hand to give out at open house showings. Again, if you are working with an agent, he or she will most likely do this on your behalf.

Purchase “open house” signs

Make sure that they include a place to write the address of your property and the date/time of the open house. In addition to one for the front yard, you’ll want to place several in conspicuous locations around the neighborhood, such as main streets leading to your house. For these, directional arrows can point prospective buyers to your house even if they don’t know the area. Make sure that you take these signs down as soon as the open house is over. You don’t want people showing up on your doorstep at all hours of the day and night.

Get your forms in order

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.

Set up a schedule of open houses

A number of forms are required for the legal sale of your property. In addition to the contract of purchase and any counteroffers, there are approximately 20 other forms that the seller is required to provide to the buyer. It is necessary to review the contract carefully to determine when these forms/documents are due and what the buyer’s rights are once they receive the document. The form and content of many of these documents are prescribed by state or federal law and must be adhered to in their entirety. The proper forms may be obtained from your local Board of Realtors or from your real estate agent who is representing you.

Negotiate final terms of the sale

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

  • Price
  • Inspection contingencies
  • Financing terms
  • Excise tax for the sale.
  • Date of closing
  • Date of possession
  • It would be prudent for you to have an attorney review any and all contracts before the deal is finalized
Inquire Now

Final walk-through

When both the buyer(s) and a witness can be present, schedule a final walk-through before you complete settlement in order to determine that the property being conveyed meets the expectations of all parties involved.

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

Unless you have already built or bought a new residence, you’ll need to be the “buyer” for a new property while simultaneously being the “seller” for your current one. If possible, schedule both transactions to close at the same time, or else close your purchase shortly before closing your sale. You need to be moved out before the new owners take possession.

NEW DEVELOPMENTS
SOLD LISTINGS
PROPERTY SEARCH

Inquire Now To Reserve Your Seat!

Beverly Hills Real Estate Business and Loans











    Compare listings

    Compare









      For Buy | For Sell
      For Buy | For Sell