Luxury Home Sales
Smart Sellers Home Seller Tips
What Inland Empire home sellers should expect when hiring a Goodspeed Group Realtor ® is excellent communication skills both in person as well as on the Internet. Since the majority of Inland Empire home buyers typically come from the Internet, your Realtor® needs to have a presence on the web in order to advertise your home for sale. I’m not speaking of a Realty Company website, although it’s great to have one, the Realtor® needs a good presence on the Internet. Such as Zillow, Realtor.com, Trulia, Facebook, Twitter.
Google your Realtor’s name and see how many pages come up with their name…this will have a direct impact on how many times your home is seen on the Internet which can mean how many times home buyers will know your home is for sale. Today, my name comes up with 24,800 results.
Listed are a few expectations that you should have of your Goodspeed Group Realtor® who is listing your house for sale. I have used the word Realtor® when referring to the home seller’s Realtor®. There is a difference between a Realtor® and a real estate agent.
1. Realtor® provides CMA (Compares your home for sale to others in the area to determine the range in pricing). The current Real Estate market is explained. I provide net sheets for my Sacramento home sellers.
2. Realtor® communicates, plans on showcasing your home and what they offer in advertising
3. Realtor® offers helpful suggestions for preparing home for sale and/or names of professionals that can help prepare along with the process of selling.
4. Realtor® leaves copy of Listing Document with you or brings one back quickly. You need a copy.
5. Realtor® leaves a copy of the Agency Disclosure Form with you
6. Realtor® or photographer takes several large photos of your house.
7. Realtor® puts lockbox for entry
8. Realtor® orders sign for front yard
9. Realtor® lists your home on MLS and other websites
10. Realtor® brings you a copy of both MLS sheets for you to verify terms (look for any mistakes and the agreed upon commission split that your Realtor® is advertising to the home buyer’s Realtor®) I have my home sellers initial the MLS page
11. Realtor® submits corrections & continues entering your home listing on several Internet sites
12. Realtor® provides fliers of the home
13. Realtor® may hold Open Houses
14. Realtor® updates you, at least weekly
15. Realtor® follows through by calling home buyer’s Realtor® after each showing for feedback & shares feedback with you, the home seller
16. Realtor® orders Pre-Lim and reads it in case corrections are needed
17. Realtor® presents all offers to home seller with Net Sheets
18. Realtor® verifies home buyer’s Lender Qualification
19. Realtor® guides Seller through Counters (when necessary)
20. Realtor® notifies home buyer’s Realtor® of acceptance
21. Escrow is opened at Title Company
22. Realtor® sends all disclosures to home buyer’s Realtor®
23. Realtor® opens house for Pest Inspection
24. Realtor® counsels home seller on Pest Report
25. Realtor® sends Pest Report to home buyer’s Realtor®
26. Home buyer’s Realtor® opens house for Home Inspection(s)
27. Realtor® receives Inspection Report(s) & presents to home seller for review to determine what home seller may or may not fix
28. Realtor® Opens house for appraiser
29. Realtor® sends/gathers all documents and signatures
30. Realtor® sets appointment at Title for closing
31. Realtor® attends Signing at Title with home seller in case of hiccup and for moral support
32. Realtor® calls home seller when funds have been received at Title
33. Realtor® calls home seller the day of Recordation
This is simply an overview of what you should expect from your Goodspeed Group Realtor®. There are many more ways your Realtor® helps during the home selling process of your home for sale. Each sale is unique and further steps may be needed but these are just the rudimentary steps.
Just a note of caution and a reminder that Inland Empire home buyers have access to your house during the inspection period that is agreed upon in the Purchase Contract.
The only other time that the Goodspeed Group home buyer has access to your house is 5 days before Close of Escrow for their Walk-thru. The Walk-thru is to determine that the property is in the same condition as when the home buyer placed their offer and to check any repairs that were agreed upon during the negotiation process.
The Inland Empire home seller needs to provide all receipts for repairs that were made, to the home buyer (typically this is exchanged at Title but I prefer to send them directly to the home buyer’s Realtor® prior to signing.) That way any trepidation is squelched.
With good communication and following proper procedures, the escrow should be a smooth process for all. With an experienced Realtor® selling your home, odds are in your favor that the transaction will go smoothly and net you the most possible with the least amount of concessions and stess.
Experience Realtors Are Worth Their Weight in Gold
There are “red flags” that an experienced Realtor® will be able to advise and avoid. Many home sellers choose an inexperienced Realtor® trying to avoid paying for the services of a top professional. In the long run, just as home sellers selling homes on their own, it is a documented fact that those home sellers who chose to save on commission, sell and net at a significant loss.
If you needed heart surgery would go to a first year graduate physician?
As an experienced Inland Empire Realtor®, I just can’t even begin to tell you how many times, I have seen both home buyers and home sellers who are unaware of what should happen in a home sale or purchase of a house and are unrepresented.
There is nothing that we can say to the unrepresented side but shake our heads. Sometimes, they never even know what they missed. Without the knowledge and education of the real estate process, many home buyers and home sellers will continue to be cheated in the home buying and home selling process.
I hope to be able to educate both Inland Empire home buyers and Inland Empire home sellers to know if they in-fact have good representation by providing valid information, here. I hope you found these home seller tips useful.
What Sellers Need To Know About Receiving Offers
4 Things Your Agent Should Know when Selling Your Luxury Home
4 Things Your Agent Should Know when Selling Your Luxury HomeSelling luxury homes is not for any agent. Luxury home sellers typically experience service excellence in every facet of their lives. Why shouldn’t they expect the same from their real estate agent or broker? They should. And why shouldn’t they receive it? They should.
In most luxury markets, a small handful of successful real estate agents represent the majority of the high-end transactions. We’ve partnered with the best of the best agents and brokers in every market we’ve worked in, so we know a great agent when we see one. Plus, all of our company managers were successful in the luxury brokerage business prior to starting Concierge — an aspect that sets our firm apart from others in the real estate auction industry. We are proud to know, understand and respect our broker partners.
All top luxury agents have a few things in common: utmost service, professionalism and market knowledge. Here are 4 things every luxury agent should know in selling your luxury home:
1. Your agent should know every historical stat and every listing in your segment of the market. Ask your agent how many homes they have sold in your price range — In the past year… five years… ever? Make sure they can tell you about comparable market data, including recently sold properties and high and low sales records. Allow them to educate you on the other competitive listings currently on the market, and keep an open mind. You should pay attention to all active properties in your price segment, as although you may not consider them competition, buyers will evaluate them in comparison to yours.
2. Your agent should be familiar with absorption rates. Absorption rates in luxury real estate markets nationwide have fluctuated dramatically in the past five years. Many markets experienced very few high-end sales particularly in 2008-2011, so one or two transactions affected the absorption dramatically. Today, with more units moving, local rates are becoming more constant; however, they still vary widely from one market to the next… and from one property type to the next. At Goodspeed Group we constantly watch absorption on a national basis, and while most markets are picking up traction, in some markets the average amount of time it could take to sell an ultra-high-end property is still five years plus. Make sure your agent knows the local absorption rates in your market, and base your decisions on a realistic timeframe for sale.
3. Your agent should be honest. In high-dollar transactions such as luxury real estate, brutal honesty is the best policy. You need to know if the market is down and absorption is struggling … or if the market is up and absorption is strong. If your list price is too high versus the competition … or too low (Beware of the consistent price-reduction strategy, which leaves you without options!). If your agent won’t be honest with you (and/or with him or herself) about where the market stands, it could not only cost you time but also hundreds of thousands of dollars.
4. Your agent should know other agents and buyers. This seems obvious, but networking, community involvement and friendliness are keys to success for any luxury real estate agent. Make sure your agent has a rolodex — err… rather, an iPad contacts list! — Of fellow luxury agents and prospective buyers. Further, when your agent reaches out to them, those contacts should be happy to hear from him/her and excited to schedule a showing and catch up. A positive relationship may be the key to landing that perfect buyer for your property