10 tips in selling your home

The Milligan Team Homeselling System

1: Get your property into tip-top "Award Winning Condition"-

The majority of property buyers are busy. They want to turn the key in the door of their dream property and move in. They do not want to make repairs or do fix-up work the sellers should have done. To make your property into "Award Winning Condition", give it a coat of paint inside and out. If necessary replace the carpets with stain resistant carpets in a neutral beige color which goes with any furniture. If you have hardwood floors, have them cleaned and polished to show their best. If the kitchen appliances are old, replace them with new top of the line models and include them in the sales price. Remember, kitchens and bathrooms sell properties. Make yours especially attractive.

2: Obtain all necessary and customary professional inspections-

Before placing your property on the market for sale, have all the routine inspections made. These may include roof, property inspections...etc. Make any necessary repairs indicated by these inspections. In addition, have the inspection reports available to the buyers, even if they want to hire their own inspector. By completing these inspections early, you can take care of necessary and recommended repairs, thus removing potential objections.

3: Interview at least 3 real estate agents (ie. Realtor Brokers or Agents)-

The most critical step in selling your property is selecting the best realtor. Ask friends, business associates and neighbors for names of successful realtors who sell property in your neighborhood. Then choose 3 realtors to interview, cross reference their advice, especially about the current asking and sold prices in your neighborhood. Selling property today is more complicated than ever, and interviewing a realtor is a good idea, even if you think you want to sell yourself. Remember, sometimes paying someone to deal with the hassles is worth it!!!

4: During your interviews, ask each realtor a lot of questions-

When interviewing the 3 (or more) realtors you select, have a written list of questions. In addition, expect each realtor to present you with a ‚CMA (comparative marketing analysis) showing you the recent sales prices of comparable nearby properties and asking prices of similar neighborhood properties (your competition).

Questions to ask???

What are your suggestions to improve the saleability of the property?

What is your specific marketing plan, such as: advertising, brochures and information fact sheets?

Do you suggest using a lock box to make it easier to show the property?

How long have you been selling real estate?

How long will it take to sell my property?

How many properties have you sold in the last 12 months, and what are sellers phone numbers?

Do you recommend a 90 day listing, or shorter term? Be wary of realtors who attempt to lock you into long listings without an unconditional cancellation clause.

Is there anything else that I should know about you or your firm?

After interviewing all realtors, and before signing the listing agreement be sure to phone the last 3 (or most recent clients) sellers. Ask, "Were you in any way unhappy with your realtor and would you list your home for sale with the realtor again"? You will soon know which realtor you should work with, and the most important of all these factors, really boils down to this one question!!!Who do you feel most comfortable working with!!!

5: Set your asking price correctly-

Price your property right and its half sold. You could hire a professional appraiser to advise you on the current market value, albeit, the realtors CMA should be satisfactory to assist you in arriving at the correct asking value. Watch out for any realtor who inflates their estimated value of your property, hoping to get the listing by estimating the highest sales value.

6: If you have tenants or guests in your property, ask them to cooperate-

After you have selected the best realtor and signed your listing, make arrangements to have the property easily showable on a short notice. If you have tenants or guests in the property, make certain they agree to be completely out of the property when it is shown to prospective buyers. This includes you too!!! When property is shown to prospects, there should be no one present in the property except the realtor and the buyers. The reason is serious buyers are reluctant to criticize a property with the owner or others present.

7: If your property does not sell within a few months, offer seller financing-

If you carry back a first or second mortgage, or offer finance options, this will greatly enhance your sales opportunities. Easy financing sells properties.

8: Beware of offers with unreasonable contingency clauses and unapproved buyers-

When you obtain a purchase offer, whether it is the first day your property is on the market, or several weeks later, read the offer carefully. Virtually all offers contain reasonable contingency clauses for financing and inspections. Beware of offers with open ended contingencies without a time deadline. The worst contingency involves the a buyer who is not approved for a loan and must sell his/her home before purchasing yours. If you agree, be sure it has a release clause so you can accept a better purchase offer from another buyer. If the buyer is unapproved, be sure that they get approved with your agents lender.

9: Ask your realtor to prepare a closing cost estimate statement-

Before accepting a purchase offer, ask your agent to prepare a written statement of closing costs and net sale proceeds. This form will show youhow much cash you will receive from your sale if you accept the offer under consideration.

10: Don't be in a hurry to sell your home-

Although you might want to sell your property quickly, perhaps due to moving out of town because of a job transfer, the reality is that property sales take time. If your property is in tip-top condition, you one of the best realtors, and it is priced correctly at market value (or lower), your property should sell within 90 days. However, if the local market is very slow, up to 180 days might be required. Ask the realtor to show you the average number of days required to sell in your neighborhood. By following the 10 steps to a successful property sale,selling your property should be both an enjoyable and profitable transaction.

interviewing a realtor