How to sell your home with maximum results

www.GSanDiegoRealEstate.com

Cal BRE #01915065

E-mail: GVSanDiegoHomes@gmail.com

760.271.9617

By Gabriella Vasvar

When it’s time to pull up roots and replantyourself in new surroundings, you must firstconsider the sale of your current home. Thetask can feel daunting, but with a savvyapproach and the right real estateprofessional to help, there can be a ‘SOLD’sign on your front lawn before you know it.

This guide providesan overview of thehome-selling processin 6 informative steps.Coupled with theright professionalagent to guide you,this approach canhelp to sell yourhome at the bestprice, with the leasthassle.

1. Prepare – Make repairs and Prep your home to look its best2. Pick a Pro – Enlist a Real Estate Professional 3. Price it Right – Pricing your home to Sell 4. Promote – Marketing your home 5. Negotiating – How to handle offers 6. Closing the Deal – Escrow and Closing

The Sellers Roadmap

Before trying to sell your home, make sure it looks its best to appeal to potential buyers.

First impressions do matter. You want your home to be inviting to potential buyers, so that they can see themselves in the home. You can achieve this without spending a fortune by making low cost, high impact improvements and repairs as well as staging.

Unless your prospective buyers are looking for a “fixer-upper” (which translates to a lower selling price), you’ll want to address obvious wear and tear on your property. Some fixes are easy and mainly cosmetic and you may be able to handle them on your own without spending a lot of money such as fresh paint, sprucing up the lawn, fixing lighting, replacing doorknobs and the like. Other issues are more significant and may require hiring professionals. How do you decide? Here is a short list of must fixes:

• Water damage• Door handles, /Doorbell• Safety issues• Dripping faucets• Broken windows/mirrors•Damaged floors, walls• Neglected yard

MUST FIX:

You want your home to look its bestto allow home buyers to fall in love..

A well-staged home can make all the difference whenselling. If you are in the luxury market, professional staging isrecommended, but for most home owners small changescan make a big difference that can translate into highersold price, without big budget staging.

When prepping your home,systematically address eacharea, both inside and outside, toshowcase its functionality andpotential. Rid your home ofclutter, extraneous objects, andmess to show more space.

Aim for an attractive, well organized environment, freefrom untidiness and confusion. Allow homebuyers to picturethemselves living in the space by getting rid of personalitems such as framed photos, your kids’ drawings on thefridge, or your collection of ceramic frogs.

Boost your curb appeal. That’s the first thing buyers will seewhen they pull up. A neglected exterior will drive would-bebuyers away before they even park their car.

Kick the clutter. Set a goalof eliminating half the itemsin every room, starting withpersonal items like photosand clothing. You wantprospective buyers toenvision themselves in thehome — not you and allyour stuff.

Clean, clean, clean.Scuffed hardwood, grimytile and grungy windows willcreate a bad impression,and fast.

Use what you’ve got.Staging is temporary, sohighlight the home’s bestfeatures using décor youalready have. With cluttergone, rearrange furniture,switch up drapes or artworkand dress up dowdy spaceswith fresh flowers.

Get creative! Try groupingthat mismatched living roomset, put that armchair in themaster bedroom, hang wallart on the patio fence, givethat unusual centerpiece ashot. Unconventional touchesconvey taste and make yourhome memorable.

Let the light in. A darkhome looks small anduninviting. Maximize spaceand appeal by pulling backthose curtains and shades.,add lighting if needed.

- Don’t leave spaces empty. Give each room apurpose. Spare bedroom, unused bonus room orempty basement? Set it up as a crafting room, homeoffice, playroom or yoga studio. Potential buyers willbe able to envision the endless possibilities of thespace.

- Don’t be too bold. While creativity isessential, moderation is key. Brashcolor schemes, excessive décor orostentatious artwork take the focusaway from the qualities of the home.Be selective with statement pieces.

-Don’t smoke inside. Smoke from cigarette (or other)lingers inside, difficult to completely get rid of and canbe a major turn off for buyers.

-Don’t display personal items,weapons or odd collections.Walls full of photos, kids schoolprojects, taxidermy, huntingtrophies, weapons, or the dollcollection are best to be keptout of site.

A few eye-catching improvements to your home’s exterior can makeyour home stand out.

A new welcome mat will make your front porch more inviting. Make sure the front door is clean, the door bell, door knob and locks are in working order.

Clean windows, siding, fencing, outdoor furniture, the driveway and any porches. Clear out the cobwebs, any clutter and garbage all around. Thoroughly clean water-related features. Remove leaves, debris and algae from ponds, water fountains or birdbaths.

Ensure your lawn sprinklers are in working order. If any sprinkler heads are malfunctioning or you notice a dying patch of grass, fix it. Bring color to your yard with flowers and mulch. Trim trees and shrubs if needed.

A day working in the yard will make a huge difference in bringing buyers through the front door and, hopefully, to the bidding table.

Create an inviting backyard withadding new cushions, accentpillows to your outdoor furniture,maybe a fire pit table and lighting.You want potential buyers to seethemselves enjoying the outdoorspace.

Enlist the help of a professional real estateagent

The sale of your home is one of the biggestfinancial transactions of your life, and youwant it to go smoothly. While saving on theagent commission might be tempting,statistically, homes listed by a professionalagent will sell for more, well beyond the valueof the commission.

Typical agent commissionsrange between 5-6%,which includes a listingcommission of 2.5-3% and a2.5-3% commission to thebuyers agent. For yourhome to be shown topotential buyers, you willwant to offer the buyersagent commission in anycase.

Higher proceeds Effective Marketing of your property for maximum exposure to reach all potential buyersMore safety; instead of you showing your home to strangers, an agent will install secure lockboxes that track visitors and ensure that only authorized persons can access your home Establish the most competitive price to result in maximum profit Closely monitor market conditions and neighborhood comps to make sure you are competitive.

Represent your interest throughout the process Offer advice on ways to prepare and show your property Assist you, if necessary, in finding any home-related and moving services you need Negotiate the highest possible price and best terms in partnership with you Manage contractual, title and transaction details all the way to closing and ensure that all necessary paperwork is completed for a successful close of escrow.

Top reasons to hire an Agent:

Setting the right price for your property is a delicate balancing act. Aim too high and your homemight sit on the market for months, and sell for less then it’s worth. Price it too low and you miss thepotential for a more lucrative outcome. Proper pricing ensures your home sells quickly and provides you with maximum return on your property.

1. Get a comparative market analysis (CMA)

A Comparative Market Analysis (CMA) is a document, drawn from alocal Multiple Listings Service (MLS) database, that presents pricinginformation, property details and photos of homes similar to yours(termed “comps”) that recently sold, failed to sell, pending or arecurrently on the market in your area. This CMA will include the priceor price range suggested for your home.

Generally, studying what has worked in your area – and what hasn’t– will help you to strategically price, position, and present yourproperty to sell for top dollar in a reasonable time frame, with theleast inconvenience for you.

4. Allow a little room to negotiate.

Adding a bit of a cushion to your asking price is a wise move. Most buyers will want to engage in some wheeling and dealing, so set your sale price to allow for this. Your agent can help you determine the amount of wiggle room.

2. Consider features and upgrades

In addition to square footage, comps in the area and lot size,features and upgrades affect price. Is your home upgraded withdesirable features? Do you have an updated kitchen, fresh colorscheme, upgraded flooring or a great backyard for entertaining?

Are you on a cul-de-sac or have a view? Buyers are willing to paya premium for such features, within reason. On the other hand, isyour home in need of TLC, on a noisy street with original featuresfrom the 70-ies ? Buyers will want that reflected in the price.

3. Timing

If no other homes are for sale in your neighborhood or close by at the time you put yours on the market, you can price it a bit higher than what the comps would justify. If buyers want to be enrolled at school in your school district, they might also accept a slightly higher price. However, demanding an unreasonably higher price will turn off buyers and will result in your home lingering on the market, so don’t get greedy..

It’s GO time!

You prepped your home and staged it to show at its best. You set a competitive price and professional photos, videos, virtual tours are ready. Your agent installs security lockboxesand the FOR SALE sign pops up on your property. Let the show begin!

Your agent will enter your property details, photos and showing instructions into the MLS and activates your listing. Your home will be shown on all relevant real estate search engines and on all MLS proprietary sites and brokerages. Your agent will coordinate showings with you and pre-screen potential buyers.

Strategically preparing and pricing your home are fundamentals to attract serious, financially qualified buyers. Equally important is reaching the maximum number of potential buyers with your home listing.

The main items Internet buyerslook for on real estate websites:

Property photos, videosDetailed property informationVirtual toursReal estate agent contact informationSchool and neighborhood information

Market your community as well as your home

Real estate industry surveys have repeatedly found thatneighborhood quality is the most important reason whyhomebuyers choose where to live. In fact, experienceshows that buyers usually “buy” an area first, and are oftenwilling to pay a premium for homes there. Therefore, it’scrucial to highlight your community’s amenities – likeproximity to quality schools, restaurants and shopping, localparks and attractions, as well as other benefits that impactlifestyle.

Today, the Internet, mobile apps, and real estateprofessionals are the main sources of home information forsearching buyers.

The Internet has revolutionized real estate advertising.Accordingly, it’s a must that you select a real estateprofessional with a robust online marketing strategy.

Promoting your home and community If you want to maximize the number of serious buyers, showings and offers, it is necessary to employ a broad spectrum of advertising in a coordinated manner. Your agent will have a wide range of options for maximizing a property’s exposure, including:

Multiple Listing Service (MLS)Showing your home on all major Real Estate Engines like Realtor.com® , Zillow, Trulia and Brokerage sitesDedicated Property website(s) Promoting on Social media like Facebook® Twitter® , InstagramYouTubeFor Sale sign

Open houses for Brokers and/or publicDirect mail and email campaigns Networking within the local community Agent’s sphere of influence

Try to accommodateshowings, whenever possible. Ifthere are “blackout times”, letyour agent know, so he/shecan redirect inquiries. Be prepared for higher trafficduring the first week of listing,especially on a weekend. Itmight make sense to schedulea weekend OPEN HOUSE to”launch” the listing and directpotential buyers to visit duringthe open house. Not only thismakes your planning easier,but it allows for extrapromotion and creates afeeling of urgency to act forbuyers. Leave 10 minutes before andcome back 10 minutes aftershowing time. If the visitors arestill there when you get back,wait until they leave to givethem space. Spending time ata property is usually a sign ofinterest, so accommodatewhenever possible.

Open all doors and windowsbeforehand to circulate fresh airPick up toys, remove all clutter,ensure beds are made, putclothes and personal itemsaway Floors should be clean, carpetsand rugs vacuumed Trash and recycling bins shouldbe tidy and odor-freeThe kitchen and bathroomsshould sparkle Turn on all the lights and openshades/curtains to let light in(unless the view is not ideal)Ideally, pets should be unseen.Pet areas should be clean andodor-free. Not everyone mayshare your love of animals, andsome may be allergic to them Remove all cash, jewelry andsmall valuables from view.

The basic process

When a buyer makes an offer on your home they’ll do so usinga contract developed by your local real estate association. These contracts enable the buyer to set a sale price, and also include any clauses for specifying various terms of purchase, such as the closing and possession dates, the deposit amount, and a variety of other conditions. The buyer’s agent will then deliver the offer to your agent, who will then present it to you. Closely review the details of the offer together with your agent.

You may accept the offer, reject it, or counter it. Countering the offer begins a negotiation.

Successive counter offers, with deadlines for responding and formeeting various contingencies and special conditions (e.g. ahome inspection, the buyer securing financing) will be exchangedbetween you and the buyer until either a mutually satisfactorypending agreement is reached or the negotiations collapse.

The reality is that most negotiations proceed without muchdifficulty. In the event that there are obstacles, your agent will beyour strongest ally and best resource for solutions.

Basic principles of a successful negotiation Respond quickly. When buyers make an offer, they are in the mood to buy. But moods can change, and buyers are known to get buyers’ remorse. Don’t delay if you want the sale.

Stay calm and be patient. At all times keep communication civil and agreeable.

Meet halfway. If there are disagreements about relatively smallexpenses, consider splitting the difference and smile.

Disclose everything. Smart sellers proactively go above andbeyond legal necessity to disclose all known defects to theirbuyers. Most states have property disclosure forms. Use them.

Ask questions. Offers may contain complicated terminology,sometimes three or more addenda. Your professional agent canhelp to clarify.

Be cautious with contingencies. When you’ve landed your buyer,your signed acceptance of a written offer becomes a salescontract. Except for removing any contingencies, this document isthe binding basis for the sale.

Rely on your real estate professional. It’s your agent’s responsibilityto represent your best interests every step of the way. Your successis their success.

A pending sales agreementincludes contingencies andspecial conditions that mustbe fulfilled by the buyer andseller by the closing date,which usually falls 30 to 60days after both have signedthe agreement.

If you and your buyer haveboth efficiently taken care ofyour respective contractualobligations associated withfinalizing the sale, theprocess of completing thetransaction will go smoothlywith no surprises. This processis typically handled by anESCROW company, toensure that all obligationsand legal requirements aremet.

Common contingencies and conditions:

•The buyer’s securing of financing•A Title Search – a historical review ofall legal documents relating toownership of the property to ensurethat there are no claims against thetitle of the property• The purchasing of Title Insurance incase the records contain errors orthere are mistakes in•the review process•A professional appraisal of thehome, requested by the lender toensure that the home’s actual valuejustifies the loan amount•An independent inspection of thehome’s structural and functionalcondition•An independent termite inspection•Any additional contractual promisesyou have made•A final walk-through by the buyer toverify that the home in the samecondition as when the saleagreement was signed

Carefully review the sales agreement with your agent to have a clear understanding of your obligations. Any shortfalls or mistakes at this point can be costly.

ESCROW to CLOSEWhile different states handle the final settlement in slightly different ways, generally the closing agent – a third-party professional, typically and escrow company, does the following:

Determines the total amount due from the buyer and collects the funds Determines all the adjustments (e.g. seller prepayment of taxes, utilities, etc.) and ensures that they’re factored into the transaction Assures that the transaction costs (closing, legal fees, etc.) are paid Determines the seller’s payments, credits and adjusted net proceeds Witnesses the seller’s signing the transfer of property title and all other documentation associated with the transaction Provides the seller with the net proceeds as well as copies of the signed documentation pertaining to the sale Ensures that buyer’s title is properly recorded in the local records office along with any mortgage liens

In most cases, the buyer’s possession date will fall on or within a couple days of the closing date, at which point your former home will have a new occupant and your home selling journey will be complete.

Sources: Realtor.com, Breakthrough Broker

This information is deemed reliable but is not guaranteed and is not intended to constitute professional advice. This is not a solicitation if your home is listed with another broker.