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When you sign a listing agreement to have a REALTOR® represent
your home
for sale, the first thing that happens is that the agent will get the
"bare
bones" facts about your property. Anything you can provide, such as
feature
sheets, flyers or brochures from when you purchased the home, a floor
plan, or
measurements of your rooms will help.
Give your agents as many positives and negatives about your home
as
possible, so s/he can be better prepared to handle objections. Why did
you buy
the home? What haven't you liked about it? What would you change if
you were
going to remain?
Anything new that has been updated, added or repaired, let him/her
know.
This would include new appliances, shower pan repairs, remodeling, or
cosmetic
updates.
The critical first two weeks
Within 24 hours of signing a listing agreement with you, your
agent is
required to submit your listing to his/her local MLS. This is to give
you the
seller the greatest chance of selling your home during the first two
weeks
following a listing because this period is the most likely time for
you to get
contracts on your home.
During the first two weeks, a lot of things happen, and quickly.
The agent
will schedule the MLS tour, a tour in which other agents interested in
homes in
your area will view the home. This can happen as soon as a day or two
after
signing the listing agreement. An important hurdle for your agent and
the
marketing of your home, this is the time when your agent should
receive
feedback about your home. If the home is overpriced or unsellable in
any way,
s/he will hear about it. Be sure to ask your agent what the comments
were made
from your tour.
During this crucial two-week time, your agent will most likely
add your
home to the broker's block ad in the Sunday newspaper, or put a
classified ad
in the newspaper to announce an open house or home for sale, which
will
generate calls from unrepresented buyers. The agent will work to
qualify the
buyers in terms of their ability as well as motivation to buy the
home.
S/he will take pictures of your home to upload to her Web site and
to
create a feature sheet which could be ready in time for the agent
tour. The
agent's site should have multiple pictures of your home for
presentation and an
extensive, detailed editorial to accompany them. Some agents have
sophisticated
Internet marketing skills and will provide information on such as a
map,
schools, crime statistics and more to let buyers know the community
overview of
where your home is located, as well as facts about the neighborhood,
employers,
and local services such as children's day care.
Internet savvy agents will also take advantage of the free
listings sites
on the Internet which can include home search sites, classified ad
sites, and
even some FSBO sites which accept agent listings. This can take
anywhere from a
couple of days to a week or more. Ask your agent for a list of the
sites to
which s/he will send your listing. The listing sites or the agent's
personal
Web site can also be featured in your flyers and newspaper ads to
direct buyers
to go to the Internet to learn more about your home.
S/he will also use this time to network with other agents from all
over the
area and across the country to sell your home, with personal phone
calls,
e-mails and faxes.
If you don't get any traffic or offers during the first two weeks
it could
mean something is seriously wrong. That is why your agent may actually
delay in
having you sign an agreement. If there are some repairs or painting
that needs
to be done, carpets that need to be cleaned, or clutter removed, you
will need
time to take care of those things.
Once the home is listed it is open to all the agents who have
access to the
MLS. You will most likely get calls from your agent about immediate
showings.
If the home isn't ready, you will get either no offers or very low
offers.
Every home is different and each seller is unique. Your home will
be
marketed according to your special needs. Not only is price a
consideration, so
are your circumstances.
If you are in a hurry to sell because of a transfer or the
purchase of
another home, your agent may have to price your home more aggressively
to
attract a buyer quickly. In that case, seller urgency may be used as
part of
the marketing plan to obtain a rapid closing.
The open house
More and more agents are refusing to do open houses for several
reasons.
Open houses seldom result in a sale. They tend to attract buyers who
are
unrepresented by agents, and most of these buyers are unprepared to
buy, which
means they have not been qualified by a lender, don't know how much
they want
to spend, or even if they want a home in your neighborhood. Open
houses also
attract curiosity seekers who enjoy going through other people's
homes. And,
unfortunately, they can attract criminals who wait until the agent is
busy to
look through your medicine cabinet and drawers for prescription drugs,
jewelry
and collectibles they can pocket. For that reason, holding your home
open can
pose a liability.
On the other hand, open houses can also be a way to spread the
word about y
our home. Some brokers routinely put their agents open houses in the
newspaper,
and some are featured on the front page of the real estate section.
Neighbors
will gab to their friends and family that the house is "going to be
open." Some
clever agents band together with others who have homes for sale in the
same
neighborhood and stage a "tour." These are a lot of fun for consumers
who can
go from one house to another in the same area and compare homes all at
the same
time.
For a successful open house, make sure everything is sparkling
clean and
that closets are half full. Remove everything that is non-essential
and pack it
away or store it. Ask your agent about dressing up the home with props
that may
make it more appealing. Make sure those flowers are in the front
garden. This
is when first impressions really count.
You play a big role in the marketing success of your home
One of the first surprises a seller experiences is how much the
agent may
require in the way of assistance. A great deal of the marketing
success of your
home depends on you. For example, the way you prepare your home for
sale has a
direct bearing on how much a buyer will offer for the home. Homes in
pristine,
move-in condition always command higher prices than those which need
"work."
The rule of thumb is that the less the buyer has to do to move in, the
better.
Since showings can take place at a moment's notice, you must also
keep the
home picked up. You have to have the home in "show" condition at all
times -
clothes off the floor, ashtrays cleaned out, dishes put away.
Everything must
be sparkling clean and fresh-smelling. A bad odor can kill a buyer's
enthusiasm
as quickly as peeling paint. So can cluttered closets, dirty windows,
and
unmade beds. Every morning, rally the household for a quick
five-minute
pick-up, so the home will look nice while you are at work or away.
Many people hire a REALTOR® because they know that the agent
and broker
bear the up front costs of advertising and marketing the home. But the
presentation of the home is strictly the seller's job. Some
expense must
be expected whether it is painting the home inside and out, planting
fresh
flowers, or paying to have minor renovations done.
Work with your agent to determine which updates will net you the
most return
on your investment.
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