Home Sellers

Seller Process

Sellers must prepare their mindset, family, and product (house). The process is not complex but it takes and expects diligent performance from all of us.

Candyland, the pictorial of the Seller Process, explains the fundamental steps. Some steps can be skipped and others cannot.

Use me to start your best strategy.

Candyland

Your Requirements

You define your time and money rules – you clarify special Family needs and wants – you state your expectations – you define value

Your Plan

Establish your strategy and tactical details – agree on decisions – know plans change

Your Position

Combine your goals with market conditions – understand your position in the market and how you can best win.
Pricing

Your asking price should be reasonable for the condition, location, and desireability of your property. 

WARNING The internet is a valuable source of information and opportunity. It is also a place of mis-stated truths to get your money, time, or attendance. Even your website visits (eyes) on some sites enhance their profit potential. That means they are motivated to post SOMETHING, not necessarily the truth. Beware.

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Seller Process (Level 0)

Seller Representation Process

Seller Tips

Before listing your home on the market, there are things you MUST know, things you SHOULD know, things that are NICE TO know, and things that we CAN’T know.  And, most important, is knowing the difference in these.

Your goal of selling is best accomplished if you learn the “MUST-know” things before you need to know them. 

Like a tree that falls in the forest, if nobody is around, we CAN’T say it made a noise.  Similarly, when selling a house in the near future, we CAN’T know many things.

  • We CAN’T know how the market will respond to your home or asking price when we put it on the market. 
  • We CAN’T know if a buyer’s appraiser is going to agree with your contract price.
  • We CAN’T know the motivation or honesty of any particular buyer.
  • We CAN’T know if your upgrades and improvements will have a return equal to or greater than their cost.
  • We CAN’T know how long it will take to secure a qualified and committed buyer for your house.
  • We CAN’T know if you will end up compromising to close the deal.
  • We CAN’T know how your tenants will respond to your intended sale of ‘their house’.
  • We CAN’T know how accommodating your tenant will be during the process.

To protect us from the things we CAN’T know, here are the items you MUST do and know.  Each of these, when done or ignored, has consequences.  

  • We MUST disclose everything we know about the house to the buyer.  The consequences of not disclosing information can be very costly.  You can’t make an assumption about the materiality of a fact – just disclose it. 
  • We MUST be honest and ethical to each other and buyers and agents who visit or submit an offer for your house.  My code of ethics and the guide for my professional behavior is at this link:  NAR Code of Ethics.
  • You MUST consider your safety and health at all times.  Don’t let people come into your house unless escorted by a licensed agent.  And if you feel unsure, call me immediately.
  • You MUST be aware of the market activity so you can have realistic expectations. 
  • You MUST understand your rights and duties so you can perform per contractual terms.  If you breach the contract, it can be costly.  These are the contracts you will enter and execute to sell your house:  Listing Agreement, Purchase Agreement.
  • You MUST get tax and legal advice if you feel uncomfortable with any decision you make.  If this is an investment sale, you should have already talked to a CPA and/or lawyer.  I’m not a lawyer or CPA and cannot give legal or tax advice.
  • You MUST stay in touch with me throughout the process.  The contract is structured on a timeline so there are deadlines we have to meet.
  • You MUST not change existing leases and tenants if you are selling a cashflow.

There is a long list of things you SHOULD do and know when selling your home.  Some of them are considered “common sense”.  But there are even REALTORS who don’t know them.

  • You SHOULD complete your Seller Disclosures before going Active.
  • You SHOULD keep your home and yards clean and free of clutter.
  • You SHOULD expect a buyer to want a lower price or more repairs.
  • You SHOULD expect visitors to open drawers and closets.  SECURE YOUR VALUABLES.
  • You SHOULD leave when an agent is showing your home.
  • You SHOULD get inspections [and repairs] prior to listing your home on the market.
  • You SHOULD prepare to move as soon as possible.
  • You SHOULD know your competition and comparables.