Seller Services

Selling a property can be a very involved endeavor. What do you need to prepare your home for sale? How will you go about marketing it? When can it be shown? Can you do this yourself, or should you get a Realtor? How will it be promoted? What are the best sources for advertising? Should you do a home inspection before marketing? What paperwork will you need? How do you negotiate? Do you need an attorney? These are just a few of the questions with which you may struggle.
          Really, there are only three basic steps needed to sell your property. We have listed them below, along with some thought starters and advice on each step.

• Preparation
  Your first step in selling your property will be making it ready to be shown. A home that shows well will always generate more money than one that obviously needs work or updating. The decision as to what you do will be dictated by budget, time, ability, willingness and the marketplace. In a very active market, there is little that needs to be done. In a slower market, some effort will be required. In this case, the cost of failure to act will be a reduced sales price. Here are some ideas to help you get your home in market ready condition. Do not undertake any of these tasks without first speaking to us or another Realtor with regard to the necessity of any of them. The goal is to only put forth effort or money if the return on investment warrants it.

 Click here for a detailed guide on preparing your home for sale.

• Valuation
  The next step is to determine the value of your home. This may be more difficult than you would think. It is easy for a homeowner to loose all objectivity in trying to guess the value of their house. Personal preferences and a bias toward your own home may skew your thought process. The factors which help determine this value include, but are not limited to:

  • Square footage - This includes heated, enclosed portions of your home. It should not include finished lower level areas, even if it is a walk-out area. Of course this lower level does have a value, which must be factored into the equation.

  • Assessed value - This is your town's valuation of your property in relation to other properties throughout the town. Although the value is not accurate, it allows us to compare your home with others of similar assessment which have closed.

  • Amenities - Does your home have central vacuum, central A/C, security system, crown moldings, wainscoting, hardwood floors, wiring for a home network, updated electrical, updated appliances, granite counters, etc.?

  • Neighborhood - The relative strength of your neighbors values will play a role in determining your homes value.

  • Location - This will be important with relation to access to services, commute time, road traffic, etc.

  • Floor Plan/Layout - Does your home have the traditional Living Room, Dining Room, Family Room and Kitchen? Is there an office/study area? How many Bedrooms? Are they real Bedrooms, i.e. have closets? Does the Master Bedroom have it's own bath?

  • Mechanicals - Are the mechanical systems in your home updated? Do they function properly?

  • Structural - Is the roof sound? Can you prove when it was last replaced? Is there wood rot on the outside? Does your home have old aluminum siding that is faded and worn? Are there water leaks in the roof or basement?

  • Flooring - Is the flooring up to date? Does it need replacement?

  • Kitchen - Perhaps one of the most important aspects of a home today. Is it large enough for entertaining? Is it updated?

  • Setting - Is your property appealing? Large enough for the average tastes? In a wetlands area?

  • Eye Appeal - Is your yard and home appealing to the eye? What is your first impression as you enter your driveway/entryway?

  • Competition - Are there many properties on the market that are similar to yours? Are you going to be competing against new construction?

  You can find several ways to determine the value of your home. We suggest using a combination of several. Here are some options.

  • Invite at least two Realtors to prepare a CMA (Comparative Market Analysis) for you. Require documentation to back up their opinions. Keep in mind that some Realtors will try to achieve the highest number possible in the attempt to "buy your business." Do not fall for this. This person is not going to buy your home. The sole objective here is to obtain value, not representation.

  • Pay for a professional, unbiased appraisal. Appraisers can be found in the Yellow Pages.

  • Request a desktop valuation through us.

  • Ask us to visit your home to provide a free price opinion and marketing plan.

   

• Representation
  This is the most important part of your decision making process. It should be handled as an entirely separate issue. Ultimately, you will decide your desired sales price and related asking price. The job of representation should not necessarily go to the highest bidder. The highest bidder has yet to be found. The real question here is - Who is best qualified to promote and market your home? Who will offer your home the greatest amount of exposure? Who is best qualified to represent you through the entire process of marketing, negotiating, inspecting and re-negotiating? You have two basic options here.

  • Select a Realtor - How do you go about this?

    • You have a friend who is a Realtor. That is nice, but remember the old phrase - "Business is Business." Just because you have a friend who is in the business, that does not mean that they are the right person to represent you. What is their experience? Do they have a track record in marketing homes similar to yours? Do you respect them enough to follow their guidance throughout the process? Do they respect you enough to tell you what you need to hear, or are they more interested in maintaining your friendship? One of the best ways to harm a friendship is to introduce a business relationship. Do you and they have the ability to keep the two aspects of your relationship totally separate? Give this option thorough consideration before proceeding. Do not feel locked in because of an existing relationship. The best way out is to be honest and state that you value your friendship too much to risk it on a house sale.

    • You are considering the Realtor who sold you the home you are in. If you are considering this, the chances are pretty good that this person represented you well in the past. We respect this loyalty. Just make sure that this person has the ability to properly promote a property such as yours. Do they offer the tools necessary to make your home stand out among the competition? Do they work with a firm with a strong presence in the marketplace? Does this firm have an advertising policy which will provide adequate exposure? If the answers to these questions are positive, why re-invent the wheel. Stick with the one who got you where you are.

    • Someone recommended a Realtor to you. This can be re-assuring, especially if you respect the person making the recommendation. The same criteria as above should pertain in this case. What does this Realtor offer that will make your home stand out among the competition?

    • Call into a firm and interview the person who answers the phone. This is a real pot luck venture. You may get an agent with good experience this way, but you might just get the newest person in the company. Sometimes, the new agents try to get phone duty more often in an attempt to jump start their business. Often, the most experienced Realtors are too busy to sit on phone duty for hours throughout the day. If you try this method, ask some questions about experience before scheduling an appointment.

    • You are relocating and your relocation company sends two agents to your home. This often works out okay, as usually only experienced Realtors are sent to you. Just be aware that you are free to interview any other agents that you choose. You are not limited to the ones that the relocation company sends. Of course, please notify your relocation coordinator that this is what you are doing.

    • No matter which decision you make, make sure that you contact us before deciding on who will represent you in the sale of your property. We bring more resources to the table than any Realtors in the Valley. You owe it to yourself to at least hear what we can do for you.

  • Sell It Yourself - Some pros and cons.

    • Pros

      • You do not pay any commissions.

      • You get to design and place and pay for any advertising that will be done.

      • You get to negotiate directly with the buyer or buyer's agent regarding price, personal property, closing date, deposit amounts and inspection issues. There will be no middlemen.

      • You get to decide when showings will occur, based upon your work schedule, activities schedule and who will be home to conduct the showings.

      • You get to screen potential buyers relative to financial ability, lender qualifications, the need to sell a property first, adequate funds to close and trustworthiness (i.e. do you even want them in your home?)

    • Cons

      • You may not price your property correctly. This may result in a sale price that is too low. It also may result in the failure to obtain an offer at all if the price is too high.

      • You will lack the ability to keep up with competitive forces in the marketplace. This will result in a delay in adjusting accordingly, which can be very costly.

      • You may lack the ability to negotiate in a calm and objective manner, thereby losing a viable prospect.

      • You may end up negotiating with a seasoned Realtor. No offense, but you will not stand a chance here. You may win a battle, but the war is the objective.

      • You will lack the ability to promote your property in some of the most productive media that exist. These include The Real Estate Book, Realtor.com, and many buyer-generating web sites.

      • Your audience will be limited. Most buyer prospects have already affiliated with a Realtor. State of Connecticut Agency Laws require that a buyer enter into an Agency Agreement with the realtor prior to even looking at properties. This ensures the buyer proper, well-defined representation and it assures the Realtor will be compensated should the buyer make a purchase. By its very nature, this agreement precludes a buyer from purchasing a property that will not compensate their Realtor. Why would you want to limit your potential for competitive forces to keep your price higher? (We have seen many instances of a FSBO failing to sell and then getting listed by a Realtor. In most circumstances, the property ends up selling for more than it was listed for while a FSBO.

      • You may lack the knowledge regarding remedies to inspection issues, resulting in a transaction that falls apart. Most issues are easily addressed if you know where to look. A Realtor will already have the answer, as they or an associate has probably already encountered the problem and solution.

    While there are many examples of successful transactions handled directly by the seller of a property, they are more rare than you might guess. Marketing, showing, negotiating and closing a real estate sale is an involved process. You may be best to avoid the urge to handle this yourself. Overall, there is no substitute for a seasoned Realtor. Years of experience, a network of associates, and proven track records cannot be negated with a sign in the front yard and an ad in the newspaper.

    ---

    

     

    ---