Selling Steps 4-5: Understanding Your Realtor's® Role & Homework for Sellers
Step 4
What I Do For You
Not all real estate practitioners are REALTOR®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTOR® and subscribes to its strict Code of Ethics. When looking at all the factors that an Agent influences, it’s easy to see how important it is to choose the right one for you.
Navigate a complicated process
Buying or selling a home usually requires disclosure forms, reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal and avoid delays or costly mistakes.
Information and opinions
REALTORS® can provide objective information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property most likely have a good resale value when I am ready to sell?
Negotiating skills
There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and including or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections, and investigations of the property before you are bound to complete the purchase. Your Agent can advise you as to which investigations and inspections are recommended or required.
Property marketing power
Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
Someone who speaks the language
If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.
Experience
Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handles hundreds of estate transactions over the course of their career. Having an expert on your side is critical.
Objective voice
A home often symbolizes the future, rest, and security – it’s not just four walls and a roof. Because of this, home buying and selling can be an emotional undertaking. And for most people, a home is the largest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.
Questions? Contact us at andi@andidyer(dot)com or 360-734-6479.
STEP 5
Here’s Your Homework When You Work With US
Your Name (s): __________________________________________ Date: _____________
Property Address: ________________________________________
Things we need you to do now
Find a Mortgage Broker/Lender if you are planning to buy another property after you sell your current property. We recommend comparing at least THREE Lenders/Mortgage Brokers to see who will give the best terms and rates for you. Jump to the end of this article to find our favorite Lenders. This way, you know if you can afford to buy another property, if so if it makes sense to sell now. Contact us for a list of our favorite Lenders.
Read and sign the following documents:
- Exclusive Right to Sell Agreement. Date this agreement for the date we are planning to put the property into NWMLS.
- Property Disclosures.
- Return all of the above to us. We will send this to you via a separate email once we’ve decided to work together.
Fill out the following documents (return them to us once they are complete):
- Seller’s Questionnaire.
- Listing Forms.
- Estimated closing costs.
- Purchase & Sale Agreement.
- Appropriate Purchase & Sale Addendums.
- Change privacy settings on Facebook and LinkedIn to the highest security settings. Do not post anything about your being for sale as can be used against us during negotiations.
- Decide whether you will provide a home warranty to the Buyer if they ask for one during the negotiations.
- Decide if you want Open Houses. Typically, we advise doing one on the first weekend.
- Make two sets of all house keys for us.
- Have us come and do a staging evaluation. Repair, replace, etc. any items on the staging evaluation checklist before the house goes on the market.
- Prepare for the house to be deep cleaned before professional photography.
- Arrange for pets to be out of the home or if friendly, crated in the garage during showings.
- Hide all valuables, including money, passports, jewelry, weapons, electronics, and prescription medication. Password protect all computers.
- Once the above is completed, let us know so we can order the professional photography, make the flyers and order a sign to be put out front. We can also do a Virtual Tour for an additional fee.
- Discuss with us the possibility of multiple offers, low appraisals, quick closing dates, etc.
- Download Andi’s mobile app to see the competition when you’re out and about (ask her to text it to you).
- Review the completed listings we will send to you via NWMLS to get to know your competition, see when you make price reductions, see what price they close for, etc. Decide whether you want to see these daily or weekly and let us know.
Once a Purchase & Sale Agreement has been accepted
- We will let you know when the home inspection will occur so you can vacate the property. Home inspections generally take 2-4 hours.
- We will send you a receipt showing earnest money has been received, generally around 3 business days after Mutual Acceptance.
- Start looking for a new home if you need to buy something before moving and continue the mortgage approval process.
- We will send an executed contract and inspection reports to you. If there are inspection issues our team will discuss these items with you before negotiating inspection items with the Buyer’s Agent.
Once the Appraisal has been cleared
- Hire movers and begin packing.
- Call and arrange for utilities to be stopped the day after closing. Phone numbers for the utility companies will be sent to you later on.
- Arrange for homeowner’s insurance to stop the day after closing.
- Gather funds to cover the closing costs.
- Attend closing.
Questions? Contact us at andi@andidyer(dot)com or 360-734-6479.
