Maximize Your Spring Sale: Smart Strategies for Home Sellers in 2024
Spring has traditionally been the best time to sell a home, but with the ever-evolving real estate market, sellers in Spring 2024 need smart strategies to navigate these changes successfully. If you're contemplating selling your home this season, here's why it could be a great decision: Understanding Market Dynamics High Demand: Despite varying mortgage rates, buyer demand remains strong, particularly with rates trending downward. Your home could be exactly what buyers are looking for. Seller’s Market Continues: The inventory of homes for sale is still low, maintaining a seller's market. Your property won’t just be another listing but a sought-after opportunity for buyers. Price Appreciation: Home prices are not falling; they continue to rise. Selling now means you could capitalize on this trend for a lucrative sale. Why Selling This Spring Makes Sense Equity Advantages: Many homeowners have seen significant equity growth in their properties over the last few years. This equity can be a game-changer when selling, providing financial flexibility for your next move. Emotional Considerations: Homes are more than assets; they’re part of our life stories. Selling in a market that recognizes the value of your home allows you to transition to the next chapter in your life with financial and emotional rewards. Maximizing Your Sale Choose the Right Partner: Selling a home involves intense and complex negotiations, as well as completing legally required documents that need to be delivered to your buyer. Working with an experienced real estate professional can simplify this process, helping you avoid common pitfalls and maximize your sale's potential. Preparation Is Key: Ensure your home is ready to impress with simple fixes and staging that highlights its potential. First impressions matter, and a well-presented home sells faster and for a better price. Take Action Now is the time to make your move. With strategic preparation and the right guidance, you can navigate the Spring 2024 market to successfully sell your home. Consider these steps: Assess Your Home’s Value: Understand the current market value of your home and how your equity position can benefit you. Prepare for the Market: Invest in making your home appeal to the widest audience. Small improvements can have a big impact on your sale. Select a Trusted Real Estate Agent: Partner with a professional who knows the market and can guide you through the selling process, ensuring you get the best possible outcome. Ready to Sell Your Home This Spring? If you're ready to take advantage of the Spring 2024 market, let's connect. With the right strategy and support, you can navigate the selling process for a successful and rewarding outcome. Contact Laura Dandoy at 909-228-4383 today to discuss how we can maximize your home's potential this spring.
167 Things a REALTOR® Does for Their Clients
Are you on the exciting journey of finding your perfect home? Don't navigate this adventure alone! A seasoned real estate agent is your key to success. From unforeseen hurdles to crucial negotiations, your agent is your trusted partner, dedicated to minimizing stress and maximizing results. Let them handle the complexities while you focus on envisioning your dream home. Pre-Listing Activities Make appointment with seller for listing presentation Send seller a written or e-mail confirmation of listing appointment & call to confirm Review pre-appointment questions Research all comparable currently listed properties Research sales activity from MLS & public records databases for comparable properties Research "Average Days on Market" for property of this type, price range & location Download & review property tax roll information* Prepare "Comparable Market Analysis" (CMA) to establish fair market value Research property's ownership & deed type* Research property's public record information for lot size & dimensions* Verify legal names of owner(s) in county's public property records* Prepare listing presentation package with above materials Perform exterior "Curb Appeal Assessment" of subject property Compile & assemble file on property Review listing appointment checklist to ensure all steps & actions are completed Contact title company and obtain relevant information from a property profile or preliminary report Listing Appointment Presentation Give seller an overview of current market conditions & projections Review agent's & company's credentials & accomplishments in the market Present company's profile & position or "niche" in the marketplace Present CMA to seller, incl. comparables, sold properties, current listings & expired listings Offer pricing strategy based on professional judgment & current market conditions Discuss goals with seller to market effectively Discuss Compensation being paid to the Listing Broker, including the option to offer a cooperating commission to buyer’s agents and the amount, if any. Talk about the benefits and different strategies related to the offering to pay the buyer’s agent. Explain power & benefits of Multiple Listing Service and office exclusive option and consequences Explain power of web marketing, IDX & REALTOR.com Explain the work you do "behind the scenes" & availability after hours and on weekends Explain role in screening for qualified buyers in compliance with fair housing laws and principles & minimizing the inconvenience to seller from curiosity seekers Present & discuss strategic master marketing plan Explain different agency relationships & determine seller's preference Review & explain all clauses in Listing Contract & Addenda, including Disclosure Regarding Real Estate Agency Relationships, and Advisories & obtain seller's signature Prepare net sheet (estimate seller proceeds, CAR form ESP) based on listing price and loan information provided by seller Discuss with seller if there is a current tenant, if so whether the property will be sold vacant or occupied. If the tenancy will be terminated and property is to be sold vacant, advise seller to consult with a qualified landlord tenant attorney to verify the process is done correctly and in a timely manner. Discuss with seller if there are any current adult occupants who are not the named sellers such as adult family members. If so, add C.A.R. form Tenant Occupied Property Addendum (TOPA) Verify the name on RLA matches the name under current title. If seller is signing in a representative capacity, obtain all appropriate legal documentations (trust doc, letter of testamentary, board resolution, or operating agreement). Consult with and provide to title officer the appropriate document has been received to authorize sale by the entity. Prepare detailed list of personal property that seller intends to take or leave, and whether there are items that will remain that are leased or liened Discuss advantages of staging property Once Property is Under Listing Agreement Confirm lot size via owner's copy of certified survey, if available Prepare showing instructions for buyers' agents & showing times with seller Discuss possible buyer financing alternatives & options with seller Identify Home Owner Association manager, if applicable Verify Homeowner Association Fees with manager (Homeowner Association Information Request, CAR Form HOA-IR) Order copy of Homeowner Association documents required for the transaction, if applicable Order NHD and any other reports and documents, as applicable Verify security system, current term of service & whether owned or leased Ascertain need for lead-based paint disclosure Prepare detailed list of property amenities & assess market impact Compile list of completed repairs & maintenance items Have extra key made for lockbox Verify if property has rental units involved. And if so: *Obtain from seller current lease agreement and Income and Expense Statement, if required under TOPA or RIPA *Provide Tenant Estoppel Certificate for tenant to verify rent and security deposit, if required under TOPA or RIPA *Inform tenants of listing & discuss how showings will be handled. Obtain tenant signature on Keysafe/Lockbox addendum and Tenant Permission to Access Property, CAR Form KLA). Discuss serving Notice of Sale and Entry (CAR Form NSE) to make showing the showing process easier. Arrange for installation of yard sign Provide seller with Seller's Disclosure forms and advisories, such as Real Estate Transfer Disclosure Statement, CAR form TDS, Seller Property Questionnaire, CAR Form SPQ, Lead-Based Paint and Lead-Based Paint Hazards Disclosure, acknowledgment and Addendum for Pre-1978 Housing Sales, Leases, or Rentals, CAR Form LPD, Disclosure Information Advisory, CAR Form DIA, Statewide Buyer and Seller Advisory, CAR Form SBSA, and offer to address questions seller may have about completing any such forms Review Curb Appeal Assessment & provide suggestions to improve salability Review Interior Decor Assessment & suggest changes to shorten time on market Load listing into transaction management software program Provide seller a copy of the Listing Agreement at the time of execution Contact staging company, if agreed to by seller Entering Property in Multiple Listing Service Database Prepare MLS Profile Sheet Enter property data from Profile Sheet into MLS Listing Database Proofread MLS database listing for accuracy - incl proper placement in map Add property to company's Active Listings list Provide seller the MLS link or profile sheet for the property Take additional photos for upload into MLS & use in flyers Draft listing remarks for public view and private agent remarks Marketing The Listing Create print & Internet ads with seller's input Coordinate showings with owners, tenants, & other REALTORS® Return all calls Install electronic lock box if authorized. Program agreed-to showing times Prepare mailing & contact list Generate mail-merge letters to contact list Order "Just Listed" labels & reports Prepare flyers & feedback forms Review comparable MLS listings regularly to ensure property remains competitive Prepare property marketing brochure for seller's review Arrange for printing or copying of supply of marketing brochures or flyers Place marketing brochures in all company agent mailboxes Upload listing to company & agent Internet site, if applicable Mail Out "Just Listed" notice to all neighborhood residents Advise Network Referral Program of listing Provide marketing data to buyers coming thru international relocation networks Provide marketing data to buyers coming from referral network Provide "Special Feature" cards for marketing, if applicable Submit ads to company's participating Internet real estate sites Price changes conveyed promptly to all Internet groups Reprint/supply brochures promptly as needed Loan information reviewed & updated in MLS as required Feedback e-mails/faxes sent to buyers' agents after showings Review weekly Market Study Discuss feedback from showings with seller to determine if changes are needed Place regular weekly update calls to seller to discuss marketing & pricing Promptly enter price changes in MLS listing database Receive & review all Residential Purchase Agreements (offers) submitted by buyers' agents Evaluate offer(s), prepare Summary of Multiple Offers, CAR Form SUM-MO & prepare a "net sheet" for the owner for comparison purposes The Offer and Contract Submit all offers received to the seller unless otherwise instructed in writing Counsel seller on offers. Explain objective merits & weaknesses of each offer, including any special terms written in by buyer such as termite report, and any costs assigned to seller Contact buyers' agents to review buyer's qualifications & discuss offer Deliver Seller's Disclosures to buyer upon request & prior to offer if possible Confirm buyer is pre-qualified by calling Loan Officer Obtain pre-qualification letter on buyer from Loan Officer, if not submitted with offer Negotiate all offers on seller's behalf, including price, costs, and all time frames Prepare & convey counter offers, acceptance or amendments to buyer's agent Deliver copies of contracts to Escrow and all other necessary parties If Buyer’s signed Offer to Purchase is acceptable to seller, obtain seller signatures and then deliver a copy to buyer's agent Verify that the buyer has submitted the initial deposit to Escrow Holder Deliver copies of fully signed Offer to Purchase contract to seller Send copies of Offer to Purchase contract to lender Provide copies of signed Offer to Purchase contract for office file If additional offers are submitted between contract & closing, submit to seller and advise Change status in MLS to "Pending" or “Active Under Contract” or similar status Update transaction management program show "Sale Pending" Provide credit report information to seller if property will be seller-financed Buyer’s agent to refer buyer to loan broker or lender if buyer has not already made contacts, and if applicable follow-up as necessary Buyer’s agent to coordinate with lender on Discount Points being locked in with dates Deliver seller disclosures to buyer’s agent Discuss with buyer the Buyer Inspection Advisory (BIA) Fill out Buyer Inspection Election (BIE), Buyer Material Issues (BMI), Buyer Inspection Waiver (BIW), as applicable Order septic system inspection, if applicable Receive & review septic system report & assess any possible impact on sale Deliver copy of septic system inspection report to buyer Deliver Well Flow Test Report copies to buyer Verify termite inspection ordered, if required Verify mold inspection ordered, if required Prepare timeline of events and calendar. Notify buyer or seller client if contractual terms are not or have not been met and discuss consequences and potential actions, such as cancellation, delivery of notice to buyer or seller to perform. Use as applicable, Notice to Buyer to Perform, CAR Form NBP, Notice to Seller to Perform, CAR Form, Demand to Close Escrow, CAR Form DCE, Cancellation of Contract, Release of Deposit and Joint Escrow Instructions, CAR Form CC If not already done, conduct reasonably competent and diligent visual inspection and disclose material facts that may affect value and desirability of property using agent portion of TDS or Agent Visual Inspection Disclosure, CAR Form AVID. Review seller disclosures for inconsistencies Tracking the Loan Process Follow Loan Processing All the Way through underwriting Add lender & other vendors to your management program so agents, buyer & seller can track progress of sale Contact lender weekly to ensure processing is on track Relay final approval of buyer's loan application to seller Home Inspection Coordinate buyer's professional home inspection with seller’s agent Review home inspector's report with buyer Enter completion into transaction management tracking software program Explain to buyer the seller's responsibilities & explain any clauses in the contract Use C.A.R. form Request for Repair (RR) to ask seller to make any repairs, give credit or reduce the purchase price Negotiate RR and explain consequence of removing investigation contingency, and any other contingency, as term of the request process Assist seller with identifying contractors to perform any agreed to repairs Confirm with seller all repairs are final at least five days before Close of Escrow and that seller provided receipts for those repairs The Appraisal Coordinate Appraisal appointment with seller’s agent Provide comparable sales used in market pricing to Appraiser Follow-up on appraisal Enter completion into transaction management program Assist seller or buyer in questioning appraisal report if it seems too low Closing Preparations and Duties Coordinate closing process with buyer's agent & lender Update closing forms & files Ensure all parties have all forms & information needed to close the sale Confirm with seller they will be available in person for the signing of closing docs, including the deed. If they will be not available, make alternative arrangements via Remote Online Notary and verify with title that is acceptable Confirm closing date & time & notify all parties Coordinate with title company in solving any title problems, such as obtaining Death Certificates or representative signer’s documentation Work with buyer's agent in scheduling buyer's Final Verification of Property prior to closing Request final closing figures from escrow holder Receive & carefully review closing figures to ensure accuracy of preparation Request copy of closing documents from escrow holder Coordinate with escrow and title to verify that lender requirements have been met and documents, such as title policy have been obtained, to enable closing Reviews all closing documents carefully for errors Verify seller has received all closing documents Coordinate closing with seller's next purchase & resolve any timing problems, if applicable Have a "no surprises" closing so seller receives a net proceeds check at closing Refer sellers to one of the best agents at their destination, if applicable Change MLS status to Sold. Enter sale date, price, selling broker, etc. Close out listing in your management program Verify with seller all personal items and debris will be removed by close of escrow. Confirm all items included in the sale such as appliances will remain at closing Follow Up After Closing Answer questions about filing claims with Home Warranty Company if requested Respond to any calls & provide any information required from office files Provide referrals to service providers that might assist clients with evaluating conditions Offer to transmit communications to the other agent If any dispute cannot be resolved between the parties, remind the parties to mediate before moving to arbitration or litigation, if required in the purchase agreement