To begin the process of selling your home, you need to be able to price your property accurately and realistically. In order to do this you must know key facts about your property (such as lot size and square footage) and, with that information, research the current market for similar properties that are on sale or have recently been sold in your area. If you are not sure how to do this, call us for a free CMA (comparative market analysis).
What is a CMA and Why Do You Need One?
Selling your home is a process that requires work, knowledge, commitment, and attention to details. First you need to set the price. Home prices in your neighborhood and the condition of your property are among the factors used for pricing your home. Your real estate agent will prepare a Comparative Market Analysis, or CMA, providing data comparing your property to similar properties in the marketplace.
The first thing an agent will need to do to provide you with a CMA is to tour your property with you. This walk-through is the best time to point out your property’s best features and talk about your expectations. A competent agent will be able to make an accurate assessment of your home’s condition and its worth in the current market. If you plan to make changes before selling, inform the agent at this time. The CMA process takes place before your home is listed for sale. It is a good assessment of what your house could potentially sell for.
*Please note that the CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.
Sell your home for the highest possible price
Making right decisions when listing your property is the most important factor for selling your home at the highest possible price. The early stages of the selling process make all the difference in obtaining top dollar for your property.
Don’t send the wrong message to potential buyers
It is crucial to select an agent who will closely analyze comps to make sure your property is priced correctly in today’s market. Asking for top dollar makes sense and is rightful for the seller to get the highest return possible for his/her investment. But pricing your home way above market value can create a real problem. If a property sits on the market for an extended period of time without selling because it was priced to high, both real estate agents and potential buyers start to wonder what is wrong with it. And as an overpriced property sits idly on the market, the initial buzz created by it begins to fade. Step one in getting the best price for your home is pricing it within the correct range. Pricing it well and intelligently will also create better potential for a quicker sale and a possibility for multiple offers.
Work with an agent with a great marketing strategy who will expose your property to the world
In addition to accurate pricing, it is crucial that you work with an agent who can give your property the attention and effective exposure it deserves. Advertising on the Internet, in real estate networks and through local and global media outlets are all essential tools. With more and more activity and research being conducted on the internet then ever before, an agent with a solid web presence translates to your listing having more visibility by the marketplace. Choosing real estate agent who is a member of realtor associations is advantageous, and choosing one who is member of the multiple listing service is very important. Maximum marketplace exposure is needed to get the best result.
Communication provides the clarity and peace of mind you need.
Asking your listing agent many questions and addressing any concerns you may have will result in a smooth selling process that happens the way you want. An agent that is responsive and available to you will be happy to listen to your concerns, clarify uncertainties, ease your doubts, and even anticipate some of your preferences/needs. A great agent will be able to discuss an overall detailed strategy to sell your property and make sure you are comfortable with each step.
The Selling Process: Things To Consider
Selling a property is a large task involving many detailed steps. This includes researching the current market to set its correct price, preparing your home inside and outside to have the best appeal possible to potential buyers, being knowledgeable about your neighborhood to answer any questions interested people may have, establishing a budget for marketing and advertising your property as well as closing costs and any other fees associated with the sale of your home, purchasing a for sale sign and open house signs, clearing your schedule to be available for prospective buyer appointments or open houses, keeping track of people who come through your home by keeping an organized list of contact information to follow up with them after their visit, negotiating the terms of the sale when you receive an offer in an effective and beneficial way without any emotional outbursts (getting emotional or angry can give the impression that you are overly eager), and filling out all the correct paperwork. There are around 20 forms, in addition to the contract of sale and any other counteroffers, that the seller is required by law to provide to the buyer. It is important to understand, adhere to, and review each contract/form carefully and know when each is due. These forms can be acquired from your local Board of Realtors or from the real estate agent you choose to represent you. Once this is done, the final terms of the sale are negotiated, the final walk-through takes place, and the property is conveyed, it is time for you to find your new home if you have not already done so. If you don’t have the time or adequate knowledge to accurately and conveniently perform all the steps involved in the sale of your property, it is highly recommended that you find a real estate agent to represent you. A competent, communicative and professional real estate agent will have the time, tools, and expertise to perform most of these steps on your behalf, and will comfortably and efficiently guide you through all of them to make the sale of your home a smooth and pleasant transaction.
If you have any questions or concerns, or for further details about the selling process, call us at +1 310-775-5647 or email us at WeSellHomes(at)FontaineBrokerage(dotted)com