Homeselling Guide Presented By:
Kathy Torline-Nordstrom ERA Herman Group Real Estate 4065 N. Sinton Road Suite 200 Colorado Springs, CO 80907
Office Phone: 719-575-1183 Cell: 719-287-1049 KTorline@msn.com www.Kathytorline.com www.ColoradoSpringsVintagehomes.com www.ColoradoSpringshouseForSale.com
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Your Needs Come First ³ The objective you want to achieve from the sale of your house and the support you expect to receive from me.
³ How the home selling process should be tailored to fit the characteristics of your property.
³ The agency laws that may apply as we work together in the marketing and sale of your property
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Agency Relationship There are three types of agency relationships:
³ Seller’s agent represents the interest of the seller and has a fiduciary responsibility of reasonable care, loyalty, confidentiality and disclosure to the seller.
³ Buyer’s agent represents the buyer during the home buying process and has a fiduciary responsibility to represent the buyer’s best interests including care, loyalty, and confidentiality.
³ Transaction agent – If you do not choose to hire a broker to represent you in an agency capacity, a broker may assist you as a transaction broker. A transaction broker is one who assists a buyer, seller, or both throughout a real estate transaction without being an agent or advocate for the interests of either the buyer or seller.
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Understanding Your Expectations Communication
³ How important is regular communication with your real estate professional? What information is important to you? How often do you want to be contacted, and what is your preferred way of staying in touch?
Motivation
³ Why are you considering selling your property at this time? How far along are you in the process (just exploring the possibility of selling, or definitely committed to putting your property on the market)?
Time Frame
³ Is there a certain date by which the sale of this property needs to close? How flexible are you on this time frame?
Relocation Assistance
³ Will you need information or assistance in moving to a new area?
Home selling decisions
³ Are there any other individuals who will be involved in your property sale decision? May I please have permission to speak with them?
Price
³ Do you have specific expectations as to the selling price of your property? If so, what do you base this figure on? Do you anticipate a certain amount of net proceeds from this sale?
Marketing Plan
³ Are there specific activities you expect to see included in the marketing of your property?
Previous home selling experience
³ Have you ever sold a house before? If so, how many, and how recently?
Positive experiences
³ What were the most positive features of your previous home selling experiences? If you have never sold a house before, what would help to make this a positive experience?
Concern
³ Were there any unsatisfactory features of your previous home selling experiences that you hope to avoid this time? If you are selling your first house, are there any problems or concerns you are worried about?
Expectations
³ What are your expectations of me as your real estate professional? What specific services and support do you look forward to receiving from me?
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Appreciating Your Property What do you feel are the most appealing features of the property?
What features does this property have that differentiate it from other similar properties?
What changes or enhancements would you suggest to make your property as saleable as possible? What do you regard as the most attractive features of the surrounding neighborhood?
Do you have any special terms or conditions regarding the sale of your property I should be aware of?
Are you aware of any problems or concerns regarding the property or the neighborhood that will need to be disclosed to prospective buyers?
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Home Selling Process Initial Consultation
³ ³ ³ ³
Determine your needs and priorities Review “agency” choices and select appropriate working relationship Discuss Marketing Plan Establish Pricing Strategy
Design and Implement Marketing Plan
³ ³ ³ ³ ³ ³
Complete and Implement Marketing Plan Carry out scheduled marketing activities Show the property to brokers and prospective buyers Communicate with you on a regular basis Monitor results of marketing activities Modify Marketing Plan and pricing strategy as necessary
Review Offer and Reach Agreement with Buyer
³ ³ ³ ³
Buyer’s Real Estate Professional presents offer Discuss and clarify proposed terms and conditions Negotiations possible counteroffers Reach final agreement
Complete Settlement Process
³ ³ ³ ³ ³ ³ ³ ³ ³
Deposit of buyer’s earnest money Sign documents Title search, preliminary title report to buyer Inspections Removal of remaining contingencies Buyer’s final walk-through of property Loan funding/balance of funds from buyer Recording of title Relocation of seller, possession of property by buyer
After-Sales Services
³ Help you find your next home, as needed ³ Assist you with relocation, as needed ³ Provide resources for other after-sale home owner needs
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Home Selling Process Initial Interview
Documents
Promotion
Offer Written
Listing Agreement
Internet
Property Disclosure
Contacts
Brochures
Negotiated
Contract
Escrow Opened
Appraisal
Inspections
Earnest Money
Title Search
Settlement
Possession
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Successful Closing It Takes a Team Effort
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Home Selling Process The Goals of Effective Marketing Promote directly to prospective buyers, both locally and globally ³ The internet ³ Yard signs ³ Open houses ³ Other marketing activities Enlist the efforts of other real estate professionals ³ ERA Herman Group Real Estate Network ³ Referral and relocation resources ³ Multiple Listing Service ³ Direct promotion to other real estate professionals
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[
Exposure to Buyers Worldwide
Over 96% of buyers start their search online
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Information for Local Buyers
[
ERA Technology
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Additional Marketing Exposure to Buyers moving from 6 Metro Denver Counties According to the NAR Relocation Report for 2009, 338 households moved to El Paso County from Arapahoe County. That's almost one family per day. An additional 311 households moved to El Paso County from Douglas County as well as 301 from Denver County. From the six Metro Denver counties, a total of 1,372 families moved to El Paso County in 2008.
Market your listings to buyers moving from Metro Denver to El Paso County.
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Marketing Plan for Your Property 71 Step Marketing Plan 1
Complete a Comparative Market Analysis to include solds, actives, withdrawns, and expireds
³ Week of ____
2
Check pricing on Zillow
³ Week of ____
3
Install lock box with key
³ Week of _____
4
Install yard sign and brochure box. Decide if additional signage if required, and order if necessary
³ Week of _____
5
Consult on staging of the property
³ Week of _____
6
Take professional pictures of the property
³ Week of _____
7
Discuss prime feature with owner to incorporate in the flyers
³ Week of _____
8
Measure Home (or pull information from the Assessor’s Office)
³ Week of _____
9
Submit property information to Multiple Listing Service on PPAR
³ Week of _____
10
Submit property information to Multiple Listing Service on Denver MetroList
³ Week of _____
11
Submit information to Showing Solutions and customize feedback form as needed
³ Week of _____
12
Post all disclosures on the MLS
³ Week of _____
13
Order home book, place book, seller’s disclosures, and business cards inside the home
³ Week of _____
14
Drive Neighborhood and see if there are FSBO’s for sale in the area. If there are, find out pricing information on them.
³ Week of _____
15
Preview other houses in the area that are for sale
³ Week of _____
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16
Create color flyers and put in brochure box in yard and place inside house
³ Week of _____
17
Insert Pictures in the Multiple Listing Service and additional pictures in other internet web sites
³ Week of _____
18
Make arrangement for a home warranty and get extra signage ordered for the Sign
³ Week of _____
19
Furnish additional flyers to home owner to distribute to their contacts – or just listed postcards can be mailed to their contacts
³ Week of
20
Send email blast (or E card) on property,
³ Week of _____
21
Promote to ERA Herman Group Real Estate agents and distribute flyers at monthly Herman Group networking meeting
³ Week of _____
22
Search the MLS and compile a list of other agents who have properties listed in the area, and who have sold properties in the area
³ Week of _____
23
Email property flyers to agents who have listed or sold properties in the same area
³ Week of _____
24 25 26
Designate property as a featured listing on www.kathytorline.com and on www.ColoradoSpringsVintageHomes.com and www.ColoradoSpringsHouseForSale.com
³ Week of _____
Designate property as a featured listing on other ERA Herman Group agent’s web sites 27 – 52
Place property on the following web sites: ³ www.realtor.com ³ www.springsearch.com ³ www.homeandlands.com ³ www.ppar.com ³ www.pcsamerica.net ³ www.treb.com ³ www.homepages.com ³ www.justlisted.com ³ www.cshomeslifestyles.com ³ www.colosprings.com ³ www.peakhomes.com ³ www.gazette.com ³ www.zillow.com ³ www.backpage.com ³ www.hotpads.com ³ www.kijiji.com ³ www.livedeal.com ³ www.vast.com ³ www.oodle.com ³ www.truijilo.com ³ www.craigslist.com ³ www.era.com
³ Week of _____
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³ ³
www.Century21.com www.ColdwellBanker.com
53
Check with Showing Solutions on feedback from agents who have shown the property
³ Week of _____
54
Give weekly feedback to owners on showings and status updates
³ Week of _____
55
Continue to check status of Solds, Actives and Pendings in the neighborhood on a monthly basis. Complete a new analysis as necessary
³ Week of _____
56
Write blog about the property and put in www.ColoradoSpringsVintageHomes.com and on www.activerain.com
³ Week of _____
57 – 64
Host 1 open house a month and write a blog about the open house which will also get posted on __ Twitter __ Facebook __ LinkedIn __ ActiveRain __ Zillow __ Trulia __ ERA __ Realtor.com __ www.ColoradoSpringsVintageHomes.com
³ Week of _____
65-71
Post property on Postlets and distribute to: __ Twitter __ Facebook __ LinkedIn __ ActiveRain __ Digg __ Reddit __ StumbleUpon
³ Week of _____
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Ways to Enhance the Salability of Your Property ³ Written Disclosure -- A written property disclosure statement will give buyers a clear understanding of this property and the surrounding neighborhood.
³ Home warranty -- A home warranty can give prospective buyers peace of mind by providing repair-or-replace coverage of major home operating systems and appliances. o Warranted homes sell up to 50% faster than non-warranted homes o Homes with a warranty sell for about 3% more, on average (Business Week) o Reduced chance the seller will be asked to reimburse the buyer for a breakdown of a covered component o Better chance that the closing won't be delayed by a malfunctioning warranted item o It provides the buyer with a full year of coverage on the home’s major systems and appliances after they move in o Coverage for seller during listing period
³ Professional home inspections -- Professional inspections, such as structural, roof and termite will reveal the current condition of the property.
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Determining a Marketing Sensitive Price An impartial evaluation of market activity is the most effective way to estimate a property’s potential selling price. A Comparative Market Analysis considers similar properties that: ³
Have sold in the recent past - This shows us what buyers in this market have actually paid for properties similar to yours.
³
Are currently on the market - These are properties that will be competing with yours for the attention of available buyers.
³
Failed to sell - Understanding why these properties did not sell can help avoid disappointment in the marketing of your property.
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The Dangers of Overpricing An asking price that is beyond market range can adversely affect the marketing of a property o Fewer buyers are attracted and fewer offers are received o Marketing time is prolonged and initial marketing momentum is lost o The property attracts “lookers” and helps competing houses look better by comparison o If a property does sell about true market value, it may not appraise and the buyers may not be able to secure a loan o The property may eventually sell below market value
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How Will Buyers See Your Property? It is important for a property to make the best possible impression on prospective buyers. The following can interfere with a buyer’s appreciation of the property. Exterior ³ Clutter ³ Lawn needs mowing and edging ³ Untrimmed hedges and shrubs ³ Dead and dying plants ³ Grease or oil spots on the driveway ³ Peeling paint ³ Anything that looks old or worn Interior ³ ³ ³ ³ ³
Worn carpets and drapes Soiled windows, kitchen, baths Clutter Pet and smoking odors Peeling paint, smudges or marks on walls
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Show Off Your Home Every Time A comparatively small investment in time, money and effort to remove these distractions can lead to stronger offers from buyers. These tips can help your house make the best impression, every time it is previewed by sales professional or shown to prospective buyers. Exterior ³ ³ ³ ³
Remove toys, newspapers, yard tools and other clutter Tidy up, pick up after pets Park vehicles in the garage or on the street, leave the driveway clear Add color with flowers and potted plants
Interior ³ Make beds, clean up dishes, empty wastebaskets ³ Remove clutter throughout, organize closets and cupboards; put away toys ³ Set out “show towels” in baths ³ Freshen the air, potpourri or baked bread aroma, deodorize pt areas, set comfortable temperature ³ Do quick vacuuming and dusting ³ Arrange fresh flowers throughout ³ Fire in fireplace (when appropriate) ³ Turn off television, play soft background music ³ Open drapes and shades, turn on lights
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You are the Key Player in the Homeselling Team No one has a more important role in the home selling process than you. Here are some ways your participation can contribute to a successful sale: ³ ³ ³ ³ ³ ³ ³ ³ ³ ³ ³ ³ ³
Maintain the property in ready-to-show condition Ensure that the house is easily accessible to real estate professionals (lock box and key) Try to be flexible in the scheduling of showings When you are not at home, let me know how you can be reached in case an offer is received If approached directly by a buyer who is not represented by a real estate professional, please contact me. Do not allow them into the property unescorted. Remove or lock up valuables, jewelry, cash and prescription medications If possible, do not be present when the property is being shown Securely pen up pets, or take them with you Be cautious about saying anything to buyers or their sales professionals that could weaken your negotiating position, especially regarding price or your urgency to sell. Collect the business cards of real estate professionals who preview and show your home, and pass them on to me. Let me know of any change in the property’s condition that would need to be disclosed to potential buyers. Be available to review with me the list price and condition of your property if it has not sold in a reasonable period of time. Feel free to contact me at any time with questions or concerns.
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Always There For You!
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My Credentials ³ Resident of Colorado for 29 years ³ Active real estate investor and with rental properties for 20 years ³ Marketing, sales, advertising, public relations expertise with over 25 years in corporate management positions ³ Member of the Pikes Peak Real Estate Association Leadership Program. ³ Volunteer at the Pikes Peak Foreclosure Hotline ³ Co-chair of the ERA Herman Group Real Estate Network Meeting I've mentioned to many of my friends and co-workers how professional yet personal you were in helping us with this deal. Thanks again for making this almost impossible transaction a pleasant one. D. Hinton April 2007
Thank you sooooo much for all you have done. We have so much to be thankful for and you were the one we needed to work with. A Dorsey August 2007
As a new home buyer, this was quite possibly the best experience I could have had. Kathy was very patient, and EXTREMLEY helpful in every aspect of the purchase. We visited many houses over many weekends, and she took the time to find out exactly what I was in the market for, future expansions to my family, and all other variables that could come up to put me in a house that was right for me. THANK YOU!!! R. Inken October 2008 'Kathy was instrumental in the quick sale of our home during a slow and turbulent time in the real estate market. Her enthusiasm, drive and determination, an extensive network of clients and industry connections and savvy marketing skills were what made this possible. Additionally she went to every effort to ensure that our next home was the house of our dreams!' L Trance/J Barnes November 2008 Kathy is great to work with, she will do anything and everything to help accomplish your goal. I am very grateful I had the opportunity to work with Kathy and best of all, made a new friend. M Bobillo December 2008
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