SELLING

HOW DOES THE SELLING PROCESS WORK?

The Selling Process can be complicated, but we break it down here to make it easy!

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime as transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a transaction in real estate without the professional assistance of a REALTOR®.

REALTORS® also have access to online platforms and networking so your home can be exposed to more eyes and sold for a higher price. We have the necessary tools, forms, systems and training to get the job done right.

There are many things to think about so here are some points to ask when interviewing:

  • Experience – how long have they been in the business, is this full-time and do they specialize in listings?
  • Marketing – do they have a marketing plan in place and what is it?
  • Valuation – how will they come up with the suggested value (BPO, CMA or other)?
  • Staging – do they offer these services, can they refer you to someone who can and/or do they feel it will be worthwhile for your home to sell?
  • Repairs – can they point out repairs that would allow for additional financing types and do they have trusted contractor/handymen referrals?
  • Negotiations – do they have any special training for this as negotiating is critical in a Real Estate transaction?
  • Complaints – have any complaints been filed against them? (you can check with the AZ Department of Real Estate, Arizona Association of Realtorsand/or their local board)

The next step is developing a marketing plan that is custom fit to your home. Not every home is the same so why should all marketing plans be the same? If applicable, we can recommend repairs or cosmetic work that will significantly enhance the sale-ability of your property and even refer you to contractors, whom we use ourselves. Marketing your home can include exposure to other real estate agents and buyers via the MLS (Multiple Listing Service) and on many additional online platforms, a for sale sign, word of mouth, printed publications, just listed postcards to the surrounding area, bi-lingual marketing, text riders, mega open houses and many more options. It’s common for another agent to end up representing the buyer on your property; however, we do sell about 5% of our own listings.

The choice of media and frequency of advertising depends a lot on the property and specific market. For example, in some areas, newspaper advertising generates phone calls to the real estate office but statistically has minimum effectiveness in selling a specific property. The same can be said for open houses being more advantageous to the agent in generating future buyer leads as opposed to selling your home right then. Overexposure of a property in any media may give a buyer the impression that the property is distressed or the seller is desperate. From experience, we know when, where and how to advertise your property.

Here is a sample of a true 3D Virtual Tour!

Staging is a great way to separate yourself from the competition in some markets. Often times a short-sale and certainly lender-owned property do not show as well as a traditional equity sale. By preparing your home in advance of marketing, we can increase the visibility of features & upgrades and that ultimately can lead to a higher price for you at closing. When we initially walk through your home, I will be able to make suggestions on how to prepare it for sale.

When installing a lockbox we use the industry standard, which is an electronic kind that requires agents to register when accessing so we can track whom and when someone was in your home. Before accessing, we instruct agents to contact us in order to confirm availability and then they contact you to give advanced notice of when they wish to show. These details are discussed when we initially meet to evaluate your home.

There is a lot of negotiating involved in a real estate transaction. Between price, terms, closing time-frames, warranties, inspections & repairs, appraisal and possession, many points need to be clarified on paper between buyer and seller. With a short-sale, there is far more to negotiate over and beyond the aforementioned. Justin is aCertified Negotiation Expert (CNE) and Certified Short Sale Negotiator (CSSN) so he has received additional education to assist in these situations. Experience, however, is the best learning tool and we have a lot of that.

Here in Arizona, traditionally, the seller pays the entire real estate fee. This means they pay for their listing representation and the buyer’s representation. This rate is determined at the time of listing and can vary depending upon property type, price range, location and other factors. The phrase: “you get what you pay for” certainly applies with this topic as it costs us money to advertise your property properly. Commissions are not owed though until the property closes escrow so you don’t need to worry about money out of pocket up front.

All real estate licensees are not the same. Only real estate licensees who are members of the National Association of REALTORS® are properly called REALTORS®. They proudly display the REALTOR® logo on the business card or other marketing and sales literature. REALTORS® are committed to treating all parties to a transaction honestly.

REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.

ONE EXAMPLE OF HOW WE MARKET YOUR HOME!

A FEW KIND WORDS FROM PAST CLIENTS 🙂