Selling A Home

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Process for selling a Home

Transcript of Selling A Home

  • www.integrityfirstrealtyinc.com

    Selling Your Home

    REALTY EXECUTIVES International, Inc.

    Integrity First Realty, Inc.263 Brick Blvd, Suite 1Brick, New Jersey 08723Phone: (732) 262-0808

  • www.integrityfirstrealtyinc.com

    Home Selling Process

    Pre-assessment value listing signed mkt prepartion

    Marketing flyers tour MLS-Internet

    showings open houses follow-up

    Mid-assessment traffic # showings offers

    Offer earnest money negotiation contract

    Inspections mechanical structural pest

    Mortgage appraisal credit underwriting

    Title review binder policy

    Settlement transfers title possessionassemble papers

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Inspections

    Mechanical

    Structural

    Pest

    Pre-market for discovery Eliminate obstacles that adversely affect buyers

    Compare and validate buyers inspection.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Market Preparation

    Buyers cant afford to make repairs or decorate

    Buyers over-estimate cost of repairs and decorating

    Agents remember the home the way it is when they first see it.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Marketing Plan

    Comprehensive CMA

    REALTY EXECUTIVESyard sign

    Multiple Listing Service

    Internet exposure

    REALTY EXECUTIVESTour

    Color property brochures

    Open houses

    Alternative financing plans.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Exposure to the Marketplace

    Existing buyers

    Multiple Listing

    Service

    Internet

    Best agents

    Neighbors

    Centers of Influence.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Negotiation

    Third party

    effectiveness

    Increased

    communication

    Avoid conflicts.

    negotiation, noun - A process of

    discussion intended to reach an agreement.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Mutual Objectives

    Maximize Value

    Minimize market

    time

    Eliminate/Avoid

    difficulties.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.comREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Seller

    sets

    Price

    Buyer

    determines

    Value

    Pricing Roles

    Lender

    validates

    Value

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Factors That Affect Value

    Comparable sales

    Inventory of homes available

    Available mortgage money

    General economy

    Favorable terms

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Terms Can Increase Value

    Seller carries a 1st lien below market rate

    Seller carries a 2nd lien for buyer to avoid PMI

    Temporary buy-down

    Seller paid points

    Subsidize buyers costs

    Make specific improvement required by the buyer

    Include a decorating allowance.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Factors That Dont Affect Value

    What you paid for the home

    The cost to rebuild it today

    Your investment in the improvements

    Certain types of improvements.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Obstacles to Proper Pricing

    Incompetent agents who will accept a listing at any price

    Neighbors who mislead the seller as to how much they got for their home

    Fear of making a mistake

    Loss of perspective because the seller is emotionally involved

    Need to realize a certain amount of cash out of the sale.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Overpricing

    Reduces sales associates activity

    Reduces marketing response

    Loses interested buyers

    Attracts the wrong prospects

    Eliminates offers

    Helps sell the competition

    Extends the market time.

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.com

    Appraisal vs. CMA

    YesNoConsiders current sales

    YesYesConsiders past sales

    YesYesLicensed

    AgentAppraiserPerformed by

    YesYesEstimate of value

    CMAAppraisalDescription

    REALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

  • www.integrityfirstrealtyinc.comREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVESREALTY EXECUTIVES International, Inc.

    For more information on the selling of your home contact us at:

    Realty Executives-Integrity First Realty, Inc.263 Brick Blvd, Suite 1Brick, New Jersey 08723Phone: (732) 262-0808