Real Estate Listing & Selling Process
For first-time sellers or those unfamiliar with the real estate selling process, here is a general guideline of what to expect in the marketing and selling process. This guide will walk through the selling process, from the pre-listing market analysis to closing.
Once you have made the decision to sell your home, you want the best agent possible to list and market your home - We work hard to meet and exceed your expectations.
 LISTING / SELLING PRICE OF YOUR HOME
Before we meet with you, we will do a Comparative Market Analysis (CMA) of Real Estate sold, selling, or for sale by owner, in your neighborhood. This analysis extends to a 1 mile radius of your home for suburban areas and up to a 5 miles radius for more rural properties. All homes for sale within these parameters are considered, but our focus is to find homes for sale and homes sold that have the same or similar features as your home. Once we have identified the best comparable homes sold in the last 6 months and the trend to home values in your area, in a process similar to an appraisal, adjustments are made for home differences and a recommended selling price range for your home is determined. Based on this information, we will recommend a selling price and strategy; however, you make the final determination on the price of your home.
MEETING YOUR LISTING AGENT
We understand that selling your home is a big step to make and that you want a listing agent who you can feel comfortable with, confident in, and can help you achieve selling your home at the best price, in the shortest amount of time.
We are confident that you will agree our services, skills and resources in marketing your home for sale, are superior. As a result, at our first meeting we will arrive with your market analysis and a preliminary listing agreement complete. Any modifications to your home selling price, or terms of the listing agreement you feel necessary, may be made at that time. You will then be given the opportunity to sign a listing agreement, so your agent can continue to serve your best interest in the selling of your home.
THE LISTING AGREEMENT
A listing agreement is a contract to represent your best interest in the process of selling your home. Your agreement will include a beginning and ending date, specify the listing price, any commission amount, how the commission is distributed, and any special provisions you wish to include.
After signing a listing agreement, you will fill out a Seller's Disclosure, which discloses any improvements or major repairs you have made to the home, any problems with the structure of which you are aware of, and any items which you do not want included in the sale of your home. Generally, any items which are attached (light fixtures, swings, shelving, window coverings, etc.) are assumed to convey with the sale of the home, unless noted otherwise on the Seller's Disclosure.
MARKETING YOUR HOME FOR SALE
Once a listing agreement has been reached, detailed information on your home will be entered for sale into the Multiple Listing Service (MLS). In your home listing we will include as much information as possible, along with several (10-12) photos of your home. We want to sell your home! It is not just "another listing".
Having your home listed in the MLS makes it available to over 4000 Realtors and their clients in multiple counties (Wake, Durham, Johnston, Granville, Franklin, Nash…). It also makes your home listing available to potential buyers throughout the nation searching online MLS sites, Realtor.com. and any one of our multiple web sites through their 100+ search engine links.
In addition to listing your home for sale through the MLS, Realtor.com and our personal websites with national exposure, we will place your home in rotation on multiple independent web ads (like Craigs List, Back Page…etc.). You will also receive a FOR SALE sign(s) on your property, with color photo flyers, and detailed property information, in an easy to reach information box, for potential drive by buyers.
SHOWING YOUR HOME
We will advise you on how to make your home appear its best for potential buyers. A lock box will place on or near you’re your front door, with your permission, to allow other Realtors to show your home to more potential buyers. We subscribe to the Centralized Showing Service (CSS) so that someone is available at all times, even nights and weekends, to setup showing appointments. Only other realtors who are MLS members are allowed access to the lock box to show your home. Prior to receiving access to a home lock box, each realtors identification and firm they are associated with is identified, verified, and recorded, and only then is an appointment scheduled and lock box access given to the buyer’s agent.
Additionally, you will be given the option of being notified prior to each showing by email or phone, or may request a specific amount of notice prior to each scheduled showing appointment. After each showing, a feedback request is sent to each showing agent, assisting us in a continued evaluation of your homes presence in the market. These emailed feedback evaluations will then be forwarded to you.
 OFFERS
When an offer on your home is received, we will communicate and discuss it with you at the earliest opportunity. When considering an offer, the offer price is only part of the consideration. The closing date, home warranties, and other special items requested by potential buyers may actually make a lower offer price, a better choice than another offering full price. We will offer opinions based on our professional experiences advising you of the pros and cons of each, or on how to counter an offer if the first offer is not totally acceptable.
EARNEST MONEY
Earnest Monies are funds offered up front, prior to closing, as a show of good faith on an offer to purchase. It may be delivered at the time an offer is made but more often is delivered once an offer has been accepted. It is then deposited into a trust fund account with the listing firm or title company, along with a fully ratified (signed by all parties) purchase contract.
INSPECTIONS
Expressed in an offer to purchase is a period of time in which the potential buyer may have professional inspections of your home. Once the inspections are complete, the buyer may request that any or all items found be repaired. The seller then may consent to the requested repairs, negotiate, or refuse. If the seller refuses to make the requested repairs, the buyer may elect to withdraw their offer to purchase.
CONTRACT AMMENDMENTS
Generally, an amendment to the purchase contract reflects any changes or additions to the original contract. For example, a seller may be asked make specific repairs, extend the originally agreed on date of closing, consent to occupancy prior to closing, or consent to retain their occupancy for a specified period after closing.
 CLOSING
Closing is the time we all come together, after negotiating and satisfying each side’s request, to a happy conclusion. Prior to closing we will receive, check, correct, and review with you all of the final numbers appearing on your closing statement. Ideally the Settlement statement (HUD1) should be delivered to your agent at least 24 hours prior to closing. Murphy’s law however, tells us this is not always the case, as last minute changes are frequent for buyer’s loans. No worries’, if this should happen we will prepare a projected settlement statement for your review and to use as a comparison to final numbers on closing day. By your closing date all should be understood and completed, except the final signatures and the passing of the keys and home/appliance documentation to the new owners.
ANY individuals currently on the title (with any ownership rights) to the property being sold will need to be present at closing to sign a few documents. They will also need to bring photo identification for verification by the closing attorney. This may also be (and usually is) arranged prior to the buyers designated closing time. This is especially comforting if you prefer to avoid potential confrontation from a difficult buyer; or you are separated / divorced.
The hardest part in selling (or buying) a home is the stress from not knowing what to expect, what to do next, and if what is being done on your behalf, is truly in your best interest. With those issues resolved it becomes only a process into a new beginning. Which is why we take the time to explain what and why at each step, and eliminate as much of the procedure as possible.
We believe in the value and quality of the services we offer and enjoy serving the needs of our clients. Throughout the process we are available for your questions, concerns or conversation 24/7.
We want to be your Realtor!
Janice Fowler
Janice@RaleighHomesNow.com
www.RaleighHomesNow.com
|
