Your first meeting with your Realtor of Choice at your home, their homework should be done! Before a Realtor gets to your home, the Comparable Market Analysis (CMA-known as Comps) should be done. Your Realtor of Choice should ask if he/she may take a picture of the outside of your home before interviewing with you. You, their future Client, should consider interviewing three Realtors before you make a decision to list your home with one Realtor. Briefly, what is the difference between a Realtor and an Agent. A Realtor takes an extra Class/test to earn the name Realtor. It is further confirmation of an honest, fiduciary relationship between you and your Choice of Realtor. Preparation of your Realtor shows they are ready to work for you, express knowledge and your Realtor is organized.
Your appointment time is set and you are ready in anticipation of what your Realtor will have to say about real estate, the state of Market conditions and your home! Sit back and listen to their Presentation; have questions ready when the Presentation is finished. As part of the Presentation, a Marketing Plan is essential ! If a Marketing Plan is not part of the presentation, be sure to ask what that plan is to sell your home. Once your questions are answered and you determine a Price; allow your Realtor of Choice to take some pics to start the Plan. Your Realtor will probably be back for more pictures.
Now, to the meat of your Property. Expectations, what does that really mean? All in one word, it is called Responsibility of the Realtor to sell your home and Responsibility of the Seller, You, to listen to your Realtor. Your home must be “ready” to market it to a future Buyer of your home.
Here are the ingredients for the Sellers Responsibility
1. PRICE. What determines the Price? Answer: An appraisal, a Home Warranty, Comps and a Pre-Listing Inspection. This should be covered as part of the Presentation by the Realtor.
2. TERMS. This means what the Buyer can afford to pay in current market conditions. A Buyer is more concerned about what the monthly payment is and down payment over the ASKING PRICE. Your Realtor can help you.
3. CONDITION. Getting your home “ready” to sell which means curb appeal and staging your home inside and outside. No eye sore allowed! Its time for a Yard Sale!! Also, landscaping is your curb appeal.
4. LOCATION. You have heard the term price, price, price ! It is also Location, Location, Location! I am sure there are many times we wish we could up and move our homes to the best locations of the Area we live. Unfortunately, that is not a realty which means the Buyer determines the worth of your property based on current market conditions.
5. COMMUNICATION. I know you feel the Realtor should be contacting you, and, yes, this is correct throughout your listing time period. At the same time, it is important for the Seller/owner to call with suggestions and keep in touch with your Realtor; ask questions throughout the process to learn especially if this is a new educational experience.
Here are the Ingredients of the Realtor’s Responsibility
1. EXPOSURE. This is where the Marketing Plan comes into ACTION. You and your Realtor should be team players to get your home SOLD. Any ideas you can give your Realtor, the better.
2. TERMS. Your Realtor networks with Lenders so that prospective Buyers are pre-approved in submitting an offer. Terms also include the Net Sheet on what you earn and a Net Sheet on what the Buyer will pay. Terms include commissions paid, and an on-going Negotiation process to close the transaction to get your home Sold.
3. MARKETING PLAN. This is in conjunction with Exposure. You should know what the Plan is to get the best exposure to get your home Sold.
4. NEGOTIATION SKILLS. Once an Offer comes into play, there are many steps to go through before your home is Sold especially if you are dealing with a Bank Owned Property or Short Sale. There are many players involved to coordinate a smooth transaction.
5. COMMUNICATION. It is essential that your Realtor contact you and advise you of current Marketing Activity of your property. It is important that the Seller and Realtor make the effort to contact each other, make it a positive relationship to get your home Sold.
Good luck in Selling Your home !
