Decide to sell
So, you have decided to sell your property. Before anything else, it is a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.
Why Sell?
Why do you want to sell your property? Do you intend to simply find a larger property, or do you plan on moving to another neighborhood, school district, city or state? You might think your reasons are obvious, but it would do well to consider the implications of each option for your lifestyle, opportunities, and finances. Being clear about your intentions for selling will make it easier for me to determine the most appropriate option for your specified financial, lifestyle, and real estate goals.
When Should I Sell?
You should immediately establish your time frame for selling. If you need to sell quickly, we can speed up the process by giving you a complete market analysis and action plan to obtain all of your goals. If there is no pressing need to sell immediately, we can sit down and thoroughly review the current market conditions and find the most favorable time to sell.
What Is The Market Like?
When you work with me, you can be sure that you will have the knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms. I will make it a priority to keep you up-to- date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties.
Choose a real estate agent:
Why Should You Choose Me As Your Real Estate Agent?
You may opt to sell your property independently. There are many excellent reasons, however, why you should choose me to assist you in this important undertaking. I will ensure that you maximize your opportunities in the current real estate market.
The following are a couple of factors to keep in mind when considering me as your real estate professional.
- Education. The most important factor in choosing a real estate professional is their education in the real estate industry. I am a licensed Realtor in the State of Wisconsin and Minnesota and previously graduated college from Minnesota State University, Mankato with a degree in Business Administration and Communication Studies. I continually strive to improve and gain knowledge of the latest real estate trends.
- Experience and Expertise. I am a full-time agent who is familiar with the NW WI area and with the type of property you intend to sell. I employ a diverse range of marketing and advertising strategies. I find it very important to stay up to date on the latest technological advancements and promote a strong audience through the use of social media.
- Availability and Commitment. I am capable of being prompt and acting decisive during the course of selling your property. I also make it a priority to keep in touch with you constantly, which includes answering phone calls, emails, and text messages on nights and weekends to answer even some of the simplest questions.
- Rapport. I will take the time to listen to your goals and clarify your needs. I do my best to understand each unique situation and am genuinely concerned about the outcome of the process. It is my goal to be your guide and partner in this crucial decision, so I find it extremely important to establish a strong relationship from the very beginning.
What Is Your Property Worth?
Without a professional agent, most independent property sellers tend to overestimate the value of their property. You can avoid this pitfall by consulting with me as your real estate listing agent.
Prepare to sell:
You can do a lot to increase the appeal of your property and to create a lasting impact on potential buyers.
What To Do To Prepare:
The following are a couple of factors to keep in mind when listing your property for sale:
1. Curb Appeal.
Keeping your landscape pristine, and adding creative touches to your yard, such as colorful annuals, will create an immediate impact on passers-by and potential buyers.
2. Property Repairs.
Simple upgrades such as window repairs, polishing the doorknobs, and a fresh coat of paint in the most frequently used rooms will instantly brighten up the property.
3. Cleanliness and Staging.
Keep your property uncluttered, sweet-smelling and well-lit from top-to- bottom. Pay attention to details: put away the kitty litter, place a vase of fresh flowers near the entryway, pop a batch of cinnamon rolls in the oven, have your carpets cleaned. We will scan the property before it is listed for sale to see how you can improve the staging of your property.
4. Disclosures and Inspections.
As a real estate agent, I am familiar with the legal procedures involved in disclosures and am ready to help you develop a thorough disclosure statement beneficial to both you and the buyer, as well as suggest home improvement measures before placing your property on the market (such as termite and pest inspections).
5. Showtime.
Presenting your property to potential buyers is a job that I will take care of for you. Buyers feel more comfortable discussing the property with the agent, if you are not there. Moreover, I will know what information will be most useful in representing your interests when speaking with prospective buyers.
Accepting an offer:
The Price Is Not Always Right.
“The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust me as your professional to help you thoroughly evaluate every proposal without compromising your marketing position.
Negotiating The Right Way.
I take the ethical responsibility of fairly negotiating contractual terms very seriously. It is my job to find a win-win agreement that is beneficial to all parties involved. You may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for you – and as your agent, I will guarantee a thorough and objective assessment of each offer to help you make the right choice.
The Initial Agreement and Deposit.
An effective agreement is a legal arrangement between a potential purchaser and the property’s seller. Laws vary from state to state, but in order to be a legally, binding agreement, the agreement may require consideration. This consideration (initial and additional deposit) is to be held in the closing agent’s escrow account pending the fulfillment of conditions or contingencies in the effective agreement. Some important tips to keep in mind to streamline the process even further:
• Keep written records of everything.
For the sake of clarity, it will be extremely useful to transcribe all verbal agreements including counter-offers and addendums, and convert them to written agreements to be signed by both parties. I will assist you in drafting all the paperwork for your sale and make sure that you have copies of everything.
• Stick to the schedule.
Now that you have chosen your offer, you and the buyer will be given a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of their agreements. During the process I will keep you constantly updated so you will always be prepared for the next step.
Escrow, Inspections, & Appraisal:
Inspections and Appraisals
Most buyers will have the property inspected by a licensed property inspector within the time frame that was agreed upon in the effective contract to purchase. Some buyers will have several different inspectors inspect the property, if they wish to obtain professional opinions from inspectors who specialize in a specific area (eg. roof, HVAC, structure). If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate. A buyer of a commercial property may also have a complete environmental audit performed and/or soil test, if required by the lending institution.
The Closing Agent.
Either a title company or an attorney will be selected as the closing agent, whose job is to examine and insure clear title to real estate. After researching the complete recorded history of your property, they will certify that 1) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and 2) all new encumbrances are duly included in the title.
Contingencies.
A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector.
Before completing his or her purchase of your property, the buyer goes over every aspect of the property, as provided for by purchase agreements and any applicable addendums. These include:
- Obtaining financing and insurance;
- Reviewing all pertinent documents, such as preliminary title reports and disclosure documents; and
- Inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead based paint, HVAC, etc.
Depending on the outcome of these inspections, one of two things may happen:
- Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the closing; or
- The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price).
How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your best interests? This is when a professional listing agent can make a real difference in the outcome of the transaction. Having dealt with various property sales in the past, I guarantee my expertise and total commitment to every customer, no matter what their situation is.
Closing:
Closing Day
If you have come this far, this means that it is almost time for a congratulations, but not yet. Do not forget to tie up these loose ends:
Final Walk-Through Inspection
More of a formality than anything else, the final inspection takes place the day before, or the day of the closing. The buyer visits the property to verify that all is in working order; everything is the same as when the buyer last viewed the property, and that there are no extra items left behind.
Cancel Home Services and Utilities
I will provide a list of useful numbers for the termination of home services and utilities after the closing occurs.
Be Prepared
I will be ready to assist you should an unforeseen glitch pop up, even at this last stage. If something at the property breaks down or the buyers’ loan does not pull through on time, there is no need to worry. Having encountered these problems before, I know how to handle them efficiently and in a stress-free manner.
Closing
The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. The buyer(s) will sign this statement and then you will sign as well as the closing agent, certifying its accuracy. If you are unable to attend the scheduled closing, then arrangements can be made depending on the circumstances and the notice that we receive. If you are receiving funds from the transaction, you can elect to either have the funds wired electronically to an account at your financial institution, or have a check issued to you at the closing. The seller should arrange to have all property keys and any other important information for the new purchaser at the closing, so that the purchaser may receive these items at this time.