Local Selling Tips
Why hire a professional Real Estate Agent to help sell your property? Do you have the time, experience, resources and contacts to do the job yourself? Would it go smoothly? Would it even close at all? Are you ready to take on the legal responsibilities and liabilities of selling Real Estate? Did you know that in some states, one cannot buy or sell a home with out an attorney? Would you obtain a higher price if you employed a Real Estate Agent?
The Value of a Real Estate Professional ~ Listing Agent
When determining a pricing strategy for your property, the insight and experience of a Real Estate Professional can ensure the generation of top-dollar for your property. With the benefits of such insight and experience, sellers may avoid the pitfalls of missed opportunities (due to undervaluing) and wasted time (due to overpricing).
- Determining Value: The Factors That Affect The Value Of Your Home in Today's Market
- Location: Location is the single most important factor in determining the value of your home.
- Competition: Prospective buyers compare your property against competing properties. Buyers will perceive value based upon properties that have sold or are currently available in the area. All other factors being equal or comparable, buyers will tend to gravitate toward the lowest price.
- Timing: The current real estate market affects property values. As the Real Estate Market cannot be manipulated, a flexible marketing plan should be developed which analyzes the current marketing conditions and individual features of the property.
- Condition: The condition of the property affects the price and speed of the sale. As prospective buyers often make purchases based on emotion, first impressions are important. Optimizing the physical appearance of your home will maximize the buyer's perception of value.
- Price: Pricing your home properly from the beginning is an important factor in determining the length of time it will take to sell your home. Reviewing this home marketing plan will assist you in determining the best possible asking price.
- The Comparative Market Analysis Report: A Comparative Market Analysis (CMA) Report is a comprehensive, detailed and up-to-date analysis of the current Fair Market Value of a given property at on a given date. The CMA Report examines comparable properties that closely match the characteristics of subject property. Typically, a Real Estate Professional will examine comparable properties that have recently sold, those that are pending in escrow, those that are currently on the market, and those listings that have recently expired without producing a sale. Given this data, your agent will weigh and measure all the pertinent information and distill his/her findings into an optimal price range, marketing strategies and other recommendations. It is important to remember that this report is an opinion and that the value of this opinion is directly related to the experience and expertise of its author.
- Fair Market Value has been defined as follows:
The highest price, estimated in terms of money, which the property will bring when the property is exposed for sale on the open market by a willing seller, allowing adequate time to find a willing buyer, where both the seller and buyer (1) act of free will absent of any compulsion or duress, and (2) possess full knowledge of all the uses and purposes to which the property is currently or potentially adapted.
This market value definition presupposes perfect knowledge on the part of the buyer and seller, and because this perfect world rarely (if ever) exists, our estimation of price is generally indicated as a range.
- Preparation: Your agent is skilled in recommending repairs and/or cosmetic work that minimize time on market, while maximizing both prospect interest and sales price.
- Exposure to the Public: Your agent will know how and when to produce/distribute flyers and newsletters, host an effective open house, network with former clients, and contact other qualified buyers. (The National Association of Realtors® studies show that 82% of Real Estate sales result not from advertising, but from agent contacts with previous clients, referrals, friends, other personal contacts, etc.)
- Exposure to other Industry Professionals: Your agent will utilize a Multiple Listing Service and other cooperative marketing networks. Once your property is listed, it is statistically likely the buyer will be a client of another agent associated with yours.
- Advertising-Media and Frequency: It takes experience to know what works in advertising. Although ads generate phone calls to the Real Estate Office, they statistically have minimum effectiveness selling a specific property. Furthermore, overexposure of a property in any media may give a buyer the impression that the property is distressed or that the seller is desperate.
- Technology: As the world around us is changing, so is the world of Real Estate. We are committed to maintaining the level of technology needed to provide the best service possible to our clients. This includes the implementation of the most up-to-date computer applications available, high-speed Internet access, and enhanced media listings, including slide shows, video clips and virtual tours. Our customized marketing system, designed by an industry leader, also includes www.century21.com, www.century21amber.com, Century 21 Communities, and a host of other leading-edge services designed to supplement every phase of buying and selling.
Working with a Real Estate Agent ensures showings are supervised. You can instruct unchaperoned buyers to call your agent for an appointment so they can be screened and pre-qualified. This will ensure your safety, minimize time wasted showing your home to unqualified buyers, and provide the extra time you may need to do your final polishing before the showing.
- Middleman: Most buyers prefer to negotiate with someone who is unbiased, professionally trained, emotionally divorced from the property, and experienced in finding mutually beneficial solutions to problems that may seem insurmountable. Further, Buyers are more likely to express objections to agents in hopes of resolution, than they are to raise the same objections directly to the Sellers. Often, it is easier for Buyers simply to opt for another property and move on.
- Objectivity: Working with a Real Estate Professional allows you to evaluate proposals in confidence, without compromising your marketing position.
Monitoring, Renegotiating and Closing or Settling
- Handling an Overwhelming Process: The process of Appraisals, Inspections, Title Insurance, Natural Hazard Reports, Retrofit Standards, City Reports, Financing, etc., involves a minefield of possible pitfalls and potential disasters. The sheer volume of required paperwork and legal forms is enough to sabotage the efforts of even the most savvy seller working without professional representation.
- Experience with Escrow Instructions: Escrow instructions must be clear and complete; fluency in reading and understanding escrow instructions is an absolute imperative. Your agent is the best person to explain your options, facilitate the communication of your needs, guard your best interest, and move the transaction toward closing (settlement).
- Inspectors and Other Professionals: Your agent can meet specialists and negotiate the costs and extent of any repairs needed to complete your contract. Industry contacts provide your agent with resources in many areas, resources that will prove essential in successful closing of escrow.
The 21 Pledge Points of The CENTURY 21 Seller Service Pledge
CENTURY 21 real estate professionals are dedicated to making the process of selling your home as easy as possible. Below you will find the 21 pledge points offered in support of helping you.
- Dedicate myself to making the process of selling your home as easy and as successful as possible.
- Respect you, your needs and be honest and forthright.
- Hold your best interests in the highest regard throughout the process.
- Value and respect your time, being as efficient and effective as possible.
- Understand your needs and respond quickly.
- Use my base of experience, knowledge, tools and the most up-to-date training to best serve you.
- Provide regular progress reports throughout the process and discuss with you comments received about your property.
- Explain each step of the process and act as a guide to help you make the most informed decisions.
- Make recommendations to enhance the marketability of your property.
- Use a written Competitive Market Analysis and local market information to help you set the right listing price to sell your home and get the value you deserve.
- Review various financing alternatives and assist you in determining the alternative that best enhance the saleability of your home.
- Develop, present and agree upon a Customized Marketing Plan that will detail specific promotional efforts to help best market your property.
- Place the internationally recognized CENTURY 21 yard sign on your property, with your permission and subject to local ordinances.
- Provide worldwide exposure for your property on the Internet, including posting your property on Century21.com, a site that receives millions of visitors each month.
- Explain local real estate procedures and regulations.
- Show your property to pre-qualified buyers.
- Utilize the CENTURY 21 System of thousands of offices to expose your property to potential buyers referred to my office.
- Utilize the vast and powerful resources of the CENTURY 21 System to get you the results you deserve, including leveraging a Network of 6,500 offices and 104,000 agents worldwide.
- Submit to you all written offers, assist with negotiations, and provide an estimate of your net sales proceeds, so you understand all implications prior to any acceptance.
- Upon acceptance of an offer to you, pre-settlement (escrow) activities throughout the closing process will be monitored as permitted by law or local practice.
- Assist you in finding your next home, or offer to refer you to another office in another location.