SELL YOUR HOME With Kayla Gustafson Edina Realty
KAYLA GUSTAFSON EDINA REALTY I work on everything with one main principle in mind: to ensure that my clients get the very best the industry has to offer. It's for this reason that I invest heavily in continued education, and constantly update and tweak my process and tools to make sure they remain competitive and as customer-centered as possible. With a background in corporate risk management and a Masters degree in business, making data-driven decisions is not only a core competency but a central part of my business. I provide real data and transparency in my methods to my clients so they can make the best decisions possible. I am also uniquely suited to assist my clients in understanding and negotiating inspection results, vetting investment potential, and assessing and managing small improvement projects. As a licensed general contractor I specialize in small budget improvements that give you the best return and I work closely with my trades team to get your job done quickly and correctly. As a lifelong resident of the Twin Cities I have much hard won knowledge on the local neighborhoods, hot spots, and amazing lifestyle we have here. I hope you find this guide helpful and I'd love to hear how I may be able to assist.
Cheers, Kayla Gustafson, MBA Realtor | General Contractor 651.363.0587 www.kaylagustafson.com kaylagustafson@kaylagustafson.com
My listings sell in an average of 7.5 days. The MLS average is 24 days. My listings net my clients 8.7% MORE than the MLS average.
Preparing for a successful sale Selling your home can be a complicated process full of questions, uncertainty, and anxiety. But wouldn't you rather the process be exciting and approachable instead? I want to help make the home selling process as easy, smooth, and unintimidating as possible for you. By becoming prepared and educated in the process, you'll be confident in the decisions you make. This is why I put this guide together. As you read through it, know that I'm available to help answer any of your questions - everything from obtaining financing to packing and moving - so let's get started! On the next pages we'll discuss: Understanding your goals and buyers Creating an aggressive marketing plan Costs of selling Pricing your home Making the right repairs and improvements Staging and presenting your home On the market and beyond Coping with seller stress Important terms
Understanding your goals When it comes to selling a home, everyone's goals are different. Whether your priority is timeline, work required to get it ready to sell, financial ability to move into another house, or a number of other important items, my goal remains the same: get you the highest possible price for your home in the shortest amount of time. In order to do that we need to make sure we're appealing to the largest number of buyers most likely to want to purchase your home. Targeted marketing is crucial to delivering on my goal and all of yours.
A primer on buyers Today's buyers are motivated by a few different categories. In order to market your property appropriately, we want to hit as many of these as possible. Price - In a seller's market, buyers want to know they are getting a fair price. In a buyer's market, buyers typically want to know they're getting a good deal. Condition - Buyers want a house that is clean, in good repair, and doesn't need extensive investment from the moment of purchase. Best of Choice - Home buyers want what they want, but rest assured they are comparing your house to every other house they've ever seen online or in person. Location - Many buyers choose a town, neighborhood, or building first, then an individual home. Your home needs to be a great choice in its existing location, not a great deal compared to some other place. Good experience - Most home buyers are excited about the next stage of their life and many want to "be in love" with their next home. Smooth transaction - Buyers and their agents want the purchase the be as painless asnd stress-free as possible.
Custom marketing plan
Phase 1 | Preparation Initial walk-through Pricing and recommendations Develop custom marketing plan Prepare the house Stage the house Professional photography
Phase 2 | Pre-marketing Coming Soon yard sign Coming Soon marketing on Zillow Targeted social media marketing Agent to agent networking
Phase 3 | Hitting the market Release listing to MLS Homespotter App Zillow/Trulia, Realtor.com Edina Realty website All other IDX fed property search sites Targeted social media marketing Listing yard sign In home marketing materials for showings Open houses Geographically targeted mailer campaign Reverse prospecting Agent to agent networking Phase 4 | Check and adjust Track and manage showing appointments and buyer feedback using industry's best tool Track online reach of your listing using industry's best online monitoring software Weekly progress review and adjustment if needed until sold
Cost of selling Mortgage balance and home equity loans - This is the remaining balance on your original home loan. You'll need to pay off your mortgage in full once your home is sold. Prepayment penalties - The lending institution that currently owns your mortgage title may assess a pre-payment penalty. You will need to contact them to make sure. Pre-sale preparations - In most cases, you'l want to estimate in the costs of improvements to get your home ready to sell, including improving curb appeal, fixing minor problems, and anything that may come up during inspections. Closing costs - Closing costs may include title, legal documents, service fees, recording and filing fees, insurance premiums and more. Taxes - Depending on the profit you make on the sale of your home you may need to pay capital gains tax. Moving costs - You may also want to estimate moving costs, from packing materials, truck rental and/or hiring movers.
There may be additional items to consider depending on your specific situation.
Pricing your home This is the most important part of the entire process. Studies show that the longer your home is on the market, the less you'll get. So your home needs to be priced accurately from the start. Fundamentals - In preparing your home for sale, there is no more important decision you will make than the listing price. Price too high and your house will sit on the market, price too low and you could leave money on the table. Market analysis - I carefully prepare a Comparative Market Analysis (CMA) which uses MLS data on active and sold listings in your area to determine the market value of your property. We use this to ensure your listing price is competitive. Understanding market value - The market will determine what the best listing price for your home is for a successful sale. Analyzing the competition - Your market analysis will help compare homes with similar features and price. It also takes into account the condition of your home. Condition of your home - Discovering and repairing potential problems in your home before you list will help you be in control.
Pro Tip: Have a home inspection before you list. It will help catch any potential issues that you can fix ahead of time. Plus, it will help you rest easy when it comes time for the buyer's inspection.
Prepping the home
Part 1 | Condition After pricing, condition is the next most important part of making sure your home is at its best for listing. Make sure you are spending money in the right places! - I can help by making recommendations on how to best get your home listing-ready based on your particular property and situation.
These three suggestions are usually the easiest and least expensive ways to get your home to sell quickly and for top dollar: Refresh Remove out-of-date wallpaper, put a fresh coat of paint on walls, and make sure your hardwood floors are clean and carpet is in good condition. Repair Tighten leaky faucets, repair faulty electrical switches, and hire an HVAC company to clean and inspect your furnace and air conditioner. Replace You'd be surprised how much of a difference it makes to replace inexpensive items like light fixtures and cabinet knobs! If you have the budget for it, new carpet and appliances can go a long way as well.
Pro Tip: Stay away from any major renovations before listing such as remodeling kitchens and bathrooms. Most of the time the cost to do these exceeds the return.
Prepping the home
Part 2 | Staging Your first showing is actually online so taking advantage of the first impression both online and in person is critical! Just like photography, using a professional makes a huge difference but regardless of your choice your home will show best if you follow these rules:
Fix it - Anything that's in disrepair and can be easily fixed should be addressed. Pay particular attention to your home's curb appeal, the master bedroom, and the kitchen. Clean it - If you think it's clean, clean it again. Then clean it a third time! A clean listing is a happy listing. Organize it - Pack toys, seasonal decorations, shoes, and other items into bins. Organize your closets and cupboards - potential buyers will look in them! Stage it - Make your home appear as attractive as possible by decluttering and placing furniture in a layout that creates space. It is key to allow potential buyers the opportunity to image their lives in your house. Furniture - Minimize the amount of furniture in each room. Make sure everything is in good shape and visually appealing. Less is more! Decor - Remove anything personal like family photos and momentos. Make sure any decor you use for staging is neutral and not distracting. Odors - Remove garbage, clean the disposal, and don't mask odors with air fresheners. Open windows to keep fresh air circulating. If you're ip for it, bake cookies before showings and leave them out for potential buyers.
On the market | what to expect Listing documents & disclosures In order to begin pre-marketing you must sign representation and listing documents with your agent. As part of this process, you must disclose anything that would lower the perceived value of the property, affect a buyer's decision to purchase, or change the price and/or terms a buyer would offer. When in doubt, disclose anything that you'd want disclosed to you! Scheduling showings I manage all showing appointments and buyer feedback through the industry's best online tool which allows us to set restricted hours, rmanage approvals, and track appointments allowing maximum control over scheduling and a more stressfree showing experience. This tool also helps gather buyer feedback to help gauge interest and guide our efforts. Preparing for showings Tidy - Have a plan to quickly hide day-to-day clutter when you're notified of a showing. Pets - Pets should come with you or if they have to stay, be crated. Keep litter boxes and small animal cages clean and smelling fresh. Smell - Candles and air fresheners can't hide strong odors so try to air out the house before showings if you can and don't forget the trash when you go! Temperature & lighting- Ensure the temperature is perfect before you leave. Buyers quickly leave houses that are too hot or too cold. Turn on lights to make the home as inviting as possible when buyers arrive.
Dealing with offers After a buyer submits an offer you can accept, reject, or counter offer. Each situation is unique and I will guide you through every detail so you can make the best decision. Some things to think about beforehand include: Priorities - When reviewing offers it's best to plan ahead and communicate with your agent the most important things to you for accepting an offer. Terms - An offer is more than just the price. It's important to look at all the offer terms and if needed, negotiate the closing date, financing terms, inspection contingencies, etc. It's especially important to know if the buyer has another home to sell. Buyer inspections Though not in every offer, inspection contingencies are commonplace. It is generally advised that all buyers have professional inspections done before purchasing a home. These are usually 3-4 hours long and while the timeframe is negotiable, they generally occur within a week of the offer being accepted. Appraisal A formal appraisal is ordered by the buyer's lender to confirm that the home value is at least the amount of the loan. Keep in mind that this is not the same as a market value apprasial as the goal is just to determine the amount the bank will lend. Closing The closing is the formal meeting to coordinate the signing of documents, and collect and disburse funds!
Coping with stress Jitters are normal - Ask questions throughout the process. Part of my job as your agent is to make sure you're informed and confident about your decisions. Estimate expenses - As I mentioned in the Costs of Selling section of this guide, try to estimate not only the known costs associated with selling, but also anything unexpected that may come up. Get aquainted with your new home - I can help with information on your new neighborhood, school districts and more to help you settle in quickly. Don't wait until the last minute to pack - As you're decluttering and staging your home, try to pack away the things you won't need such as seasonal decorations or furnature you aren't currently using. Putting these items in storage will help you be organized for the move. Don't plan to move on closing day - If you're buying a new house to move into, make sure you consider your move timeline when scheduling closings. Closing on your new home a few days before closing on the home you're selling will give you time to move and clean since there's rarely enough time to do everything in one day! Make a moving plan for kids and pets - Plan to have a friend or family member take care of younger children and/or pets on moving day. It will make the day much easier!
Important terms Seller paid closing costs - The buyer always pays closing costs. Let me say that again: THE BUYER ALWAYS PAYS CLOSING COSTS! So what do they really mean when the seller agrees to pay closing costs? This is a confusing way of saying that the buyer wants to roll their closing costs into their loan instead of bringing more cash to closing. All you need to remember is THE BUYER ALWAYS PAYS THEM! Real property - This one can get tricky. Real property is the land and accessory objects including anything of a permanent nature such as structures, trees, fixtures inside the house, etc. The purchase agreement will ultimately spell out what is included and excluded from the sale, but if you want to keep those rose bushes in the yard, make sure you exclude them or they will go to the new owners. Purchase agreement - The written contract signed by both buyer and seller stating the terms and conditions under which a property will be sold. Pre-approval vs. pre-qualification - These are sometimes used interchangeably, but they are two very different things. A preapproval is issued after the buyers have submitted a formal loan application, provided documention of their income and debts, and a credit report has been approved by an underwriter. A pre-qualification is a written opinion from a loan officer as to the ability of the borrower to qualify for the loan before it's sent to the underwriter.
While the pre-approval or prequalification only applies to the buyer, your home will still need to pass guidelines for the type of loan the buyer is getting.
There are many important factors to consider when determining whether to sell your home. Let me help guide you through the process in a way that will suit your specific needs.
MAKE THE RIGHT MOVE FOR YOU
KAYLA GUSTAFSON EDINA REALTY