Selling 101: "The Real Estate Cheat Sheet"
Real estate sales are unique by nature. Multiple components interplay creating a transaction with liabilities as a byproduct. We always recommend using a Realtor, but our cheat sheet will get you started in the right direction.
The Seller's Cheat Sheet
The Seller's Cheat Sheet Will Guide You Through a Smooth Transaction
Make a Plan
As with most business operations, you will need to draft a plan. Separate your wants from needs to direct your attention towards the most essential steps. In addition, your plan will need to cover moving costs and where you are planning to move. (JohnHart Selling Plan Workout Sheet)
Research
It's time for a drive! Start examining other listings in your area through physical inspection and online browsing. Don't hesitate to contact local agents for more information. Be careful, most agents will ask you to sign a contract prior to talking with you. You have the right to refuse.
Understand
No two real estate markets are the same. Each area maintains a unique culture which attracts specific kind of buyers. Develop an understanding of your neighborhood's buyers' potential and what marketing areas will attract you more offers.
Talk to Your Family & Friends
Share your plan with family members and friends. If they don't then you can be certain their contact list is not as long as it should be, their offers are not monitored as well as they should be, their buyers are not followed up on as often as they should be, and they subsequently will not be able to sell your property for as high as it should be.
Estimate Costs & Profits
Will you make a profit? If yes, then how much you are expecting. In no, then what amount the sale is costing you. In most cases, careful planning can change loses into gains. There is no need to in-debt yourself. Make sure to discuss possibility of profits or lose with your accountant.
Prepare
When you visit any store, you will avoid any of those which look untidy or dirty. Similarly, your property needs to be cleaned in order to attract potential buyers. Simple touch-ups will help your property look well, while renovations will help your property excel beyond the competition.
Market
Time to bring out the camera! Simple written description is not enough. In our visual time, buyers demand color-rich marketing flyers with photos showing both exterior and interior of your property. If you enter into a listing agreement, ask your agent to list your property on various websites in addition to traditional multiple listing services.
Review & Audit
Give every offer an equal opportunity. A useful measure for a good offer is attached documents. Buyers represented by agents are usually better potential buyers because their agents had already prepared them for offer making. Audit all the required paper work to ensure no legal liability fallout as a result of negligence.
As a Last Tip...
Hire a professional! Hiring a qualified licensed real estate agent will shorten your listing period and simplifies the process even further. In addition, real estate agents utilize their knowledge and experience to make you avoid legal liability.
And We're Not Stopping There
We've got a lot more tips for you too! Give us a call & we can help you out! When you have questions, JohnHart Real Estate will give you answers that you need whether you're a first time homeowner, selling your property or avoiding a foreclosure.
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