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Create a marketing plan for your home that
will help distinguish it in your local marketplace and attract
buyers to your property. This may include advertising in the
newspaper, posting your listing on the Internet, holding an open
house and more. We will provide our Customized Marketing
System to create a personalized selling program for clients. Its
purpose is to sell a home at the best price possible in the shortest
amount of time. Back to Top
Step 2:
Setting the Price
A key part of the marketing plan is
setting the list price. If a home is priced to low, it may cost you
money. If a home is priced too high, potential buyers may be scared
away. To determine the best asking price review the cost of recently
sold homes, evaluate the competition and study marketplace
trends. We are trained to use this information to help you
reach the right asking price. It is also helpful to discuss other
terms and conditions, such as timing and items that can be included
with the sale of the home. Both of these can make your home more
attractive to potential buyers. Back to Top
Step 3: Showtime
Now it's time to get your home ready
for the spotlight. Start with a good cleaning, then eliminate any
clutter, add a fresh coat of paint and tidy up the yard. Talk to
your real estate professional about other tips that can help boost a
home's curb appeal and impress potential buyers once they're in the
door. One way to make a home more attractive is to purchase a Home
Protectuion Plan. This insurance protects you, the seller, from
paying repair or replacement costs of major items during the listing
period. It also protects the buyer during their first year of
homeownership.
In addition,
make sure you are aware of all the federal, state, and local
disclosure laws. This information can be obtained by the specific
local and federal government agencies or from our local
office. Back to Top
Question: How is a home's value determined?
Answer: You have several ways to determine the value of a
home.
An appraisal is a professional estimate
of a property's market value, based on recent sales of comparable
properties, location, square footage and construction quality. This
service varies in cost depending on the price of the home. On
average, an appraisal costs about $300 for a $250,000 house.
A comparative market analysis is an
informal estimate of market value performed by a real estate agent
based on similar sales and property attributes. Most agents offer
free analyses in the hopes of winning your business.
You also can get a comparable
sales report for a fee from private companies that specialize in
real estate data or find comparable sales information available on
various real estate Internet sites. Back to Top
Question: What is the difference between
market value and appraised value?
Answer: The appraised value of a
house is a certified appraiser's opinion of the worth of a home at a
given point in time. Lenders require appraisals as part of the loan
application process; fees range from $200 to
$300.
Market value is what price the house
will bring at a given point in time. A comparative market analysis
is an informal estimate of market value, based on sales of
comparable properties, performed by a real estate agent or broker.
Either an appraisal or a comparative market analysis is the most
accurate way to determine what your home is worth. Back to Top
Question: What standards do appraisers use to estimate
value?
Answer: Appraisers
use several factors when estimating a home's value, including the
home's size and square footage, the condition of the home and
neighborhood, comparable local sales, any pertinent historical
information, sales performance and indices that forecast future
value.
For detailed information on appraisal
standards, contact the Appraisal Institute at 875 N. Michigan Ave.,
Suite 2400, Chicago, IL 60611-1980; (312) 335-4458. Back to
Top
Question: What's a
house worth?
Answer: A home
ultimately is worth what someone will pay for it. Everything else is
an estimate of value. To determine a property's value, most people
turn to either an appraisal or a comparative market analysis.
An appraisal is a certified appraiser's
estimate of the value of a home at a given point in time. Appraisers
consider square footage, construction quality, design, floor plan,
neighborhood and availability of transportation, shopping and
schools. Appraisers also take lot size, topography, view and
landscaping into account. Most appraisals cost about $300.
A comparative market analysis is a real estate
broker's or agent's informal estimate of a home's market value,
based on sales of comparable homes in a neighborhood. Most agents
will give you a comparative market analysis for free.
You can do your own cost comparison by looking
up recent sales of comparable properties in public records. These
records are available at local recorder or assessor offices, through
private real estate information companies or on the Internet.
Back to Top
Protecting
Yourself
In some cases, a home sale can also be
an invitation for danger. Here are some things you can do to make
the process safer.
Back to Top
A buyer has made an offer - now it is time to
negotiate. Rely on your real estate professional to guide you
through this process. He or she will help you arrive at an
acceptable price, terms and conditions. Once you have accepted an
offer, help keep the deal together by meeting deadlines and
criteria, including home inspections, appropriate buyer visits,
scheduled deposits and other steps. In fact, during this period
there may be a renegotiation of the accepted offer price depending
on the outcomes of these visits. As the closing nears, you may also
need to perform repairs or do additional work to the house as agreed
upon in your contract. In addition, you will need to have the house
"broom clean" prior to the closing so that the buyer can complete a
final walk through. When you finally arrive at the closing table,
come prepared with the appropriate certificates and approvals as
required by your town, county and state. Ask us or get a list
of what you need from our local office.
Once the money has exchanged hands and all the papers signed it's
time to hand over the keys and concentrate on your next big project
- getting YOUR new home in order.
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