Sellers include individuals who are downsizing, relocating, or moving because of a life change, i.e. getting married, a new job, a family addition or other event.
Selling a home is personal. Taking time to listen is crucial in helping customize a plan. The foundation of that plan is always an organized, step by step process of “how to sell a house”.
The roles an agent carries out to make sure the process goes smoothly is one of consultant, facilitator, transaction coordinator, market educator and most important, lead advocate.
Below are the steps to “how to sell a house”: click each arrow for more information
1. Pre-Listing – Initial Meeting | Property Tour | Go Over Expectations
- What are your RE goals? Why are you selling?
- What is your timeline?
- What are your questions? concerns?
- Identify property highlights, improvements and/or recent updates.
- Discuss possible remediations and/or repairs to prepare the house before it goes on the market.
- How should your home be positioned in the market? based on Location, Competition, Condition, A Comparative Market Analysis aka CMA
- What marketing platforms are at the agents disposal and which would be best utilized in selling your home.
2. Listing Agreement | Agency A Mutual Agreement
- When owner(s) and agent are mutually comfortable moving forward. A Listing Agreement outlining the terms of the relationship, including an agents responsibilities is signed by all parties.
What is covered in a listing agreement?
- Contractual obligation – an agency relationship is between a Seller and Broker
- Listing price, duration of agreement and broker fee’s
- Legal requirements for sellers in regards to; lead paint, material facts, wood destroying insects, sellers disclosures or disclaimers, smoke detectors, federal tax reporting, use of the multiple listing service, property disclosures, Fair Housing laws and title matters
- Termination protocol
3. Marketing |Determine Positioning
Layout Marketing Plan
|Agent Generated||Social Media|
|Determine market position by identifying your competition, number of homes active, under contract, sold in the last 180 days, DOM on market, OLP Vs. SP|
Who are your buyers most likely to be – we want the largest pool of buyers
Seller(s) determine the sales price given current market stats, agent counsel and individual RE goals
|Syndication with 85+ real estate websites to include: |
Zillow, Realtor.com, Homesnap, Washington Post, Trulia, Homes.com
|Professional pictures/virtual tours | Discuss staging||Web-based campaign newsletter to Laurel’s sphere ie. fellow agents, past clients through out the DMV, posted to all LMRE social media accounts|
|Holding Open Houses – I hold my own Opens||Advertising via social media accounts: professional FaceBook page, LinkedIn, Pinterest, Instagram|
|Access to the Multiple Listing Service – |
Discuss utilizing “Coming Soon” status up to 21 days prior to live date
|Paid Target Marketing using Homesnap, FaceBook Ad Boosting|
|Creating brochures / flyer / fact sheets / direct mail pieces|
Send out direct mail pieces to neighborhood announcing your property is for sale
Posting to Laurel Murphy RE blog:laurelmurphyrealestate.com and LMRE social media pages
4. List | Communication | Track
- Once your home is listed and available for showings communication remains open and frequent.
- Showings are made and coordinated via Showing Time and directly connected to LMRE for immediate notification of all appointments while tracking all agents who show your property
- LMRE fields all calls from social media outlets, RE sites, other agents and/or other prospects
- A call is made to every agent for feedback and in turn shared with seller(s) via call or email
- Automatically send new listings, pendings and sales in your neighborhood
- A weekly check -in call so everyone is current on any market changes
- Review pricing weekly
5. Receiving An Offer | Ratification
- Time is of the essence as to all terms of the contract. In other words, the dates and time frames agreed to by the parties must be met. In practice it means that an agents role is to keep everything moving forward in a timely manner.
- Present ALL offers
- Verify buyers pre-approval with lender directly
- Negotiate terms that reflect sellers priorities – all terms can be negotiated to meet RE goals
- Prepare seller net sheet
- Once the contract is fully ratified, the clock on the contracts time frames and contingencies begin.
- LMRE works closely, communicates and coordinates with the buyers agent, title company, lender, any inspectors and HOA or condo associations to confirm all time frames are on track and met
- Coordinate, review and respond to home inspection reports, notices and compliance
- Meet the appraiser
- Review closing documents and attend settlement
Closing is the result of completing steps 1-5.
When done efficiently and cooperatively, sellers net the highest possible within their markets average days on market or less.
Things To Consider When Selling Your House, download a free Home Sellers Guide