100 STEP SYSTEM FOR SELLING YOUR HOME by Vicki Stanton
1. Research tax records to verify full and complete legal information, including property’s ownership and deed type, lot size & dimensions, land use coding, deed restrictions.
2. Research sales activity for past 6 months from MLS and public records databases.
3. Research “Average Days on Market” for property of this type, price range, and location.
4. Research competitive properties that are currently on the market, under contract, expired listings (did not sell during listing period), and withdrawn listings during the past six months.
5. Call agents, if needed, to discuss activity on the comparable properties they have listed in the area.
6. Research the previous sales activity (if any) on your home.
7. Prepare “Comparable Market Analysis” (CMA) to establish fair market value.
8. Obtain copy of floor and pool plans, if available
9. Review current appraisal, if available.
10. Identify Home Owner Association manager, and HOA fees, if applicable.
11. Verify security system, current term of service and whether owned or leased.
12. Verify if you have a transferable Termite Bond.
13. Ascertain need for lead-based paint disclosure.
14. Verify if property has rental units involved; if so, make copies of all leases, verify all rent and deposits, inform tenants of listing and discuss how showings will be handled.
15. Compile list of repairs and maintenance items.
16. Prepare showing instructions for buyers’ agents and agree on showing time window with you.
17. Assess your timing, motivation, and immediate concerns.
18. Ask you questions about the property and yourselves to learn how to better serve and provide helpful information, if needed.
19. Discuss your purchase plans and determine how Vicki Stanton and Century 21 Award can assist you in your next purchase (local, new home construction, investment, or relocation) or if we can research and find a qualified agent to assist you in your new location.
20. Obtain information that will help Vicki Stanton to prepare the listing, advertising and marketing materials. Questions include:
· What type of improvements have you done to your house in the past five years?
· What other features of your home make it attractive to buyers? (Type of cabinets, flooring, decks, pool, fireplaces, etc.)
· What do you think the home is worth?
· How much do you owe on the property?
21. Obtain one set of keys which will be inserted in the lockbox.
22. Perform Interior Décor Assessment and suggest changes to shorten time on market.
23. Perform “Curb Appeal” Assessment and suggest changes to shorten time on market.
24. Give you an overview of current market conditions and projections.
25. Provide you with home showing guidelines to help have the home prepared for appointments. (i.e. lighting, soft music, etc.)
26. Review and explain all clauses in Listing Agreement (and addendums, if applicable).
27. Enter your name, address, phone number, and email address in order to keep you informed of market changes, mortgage rate fluctuations, sales trends or anything that may affect the value and marketability of your property.
28. Compile and assemble formal file on property.
29. Order termite inspection, and septic system inspection, if applicable.
30. Offer pricing strategy based on professional judgment and interpretation of current market conditions.
31. Explore the option of marketing your home with an incentive of buying down points on the buyers’ loan; potential results are: you retain a higher agreed upon price (which results in more proceeds to you) and the buyer saves on monthly payments and a tax credit.
32. Prepare an equity analysis to show you expenses, closing costs, and net proceeds.
33. Explain the use of the Seller’s Property Disclosure Statement s you will complete, and that will be presented to the buyer of your home. This will help you avoid devastating setbacks and preserve your legal rights.
34. Take full color digital photographs of the inside and outside of your home for marketing flyers, advertisements, and the Internet.
35. Set up Home Warranty, if you choose, to protect your home during listing period and for 12 months after the sale to reassure buyer of the quality of your home.
36. Install hi-tech lockbox to allow buyers and their agents to view your home conveniently without compromising your family’s security.
37. Write remarks within the MLS system specifying how you want the property to be shown.
38. Prepare detailed list of property amenities to have readily available at your home.
39. Enter property information into MLS Listing Database for exposure to all active real estate agents in the area.
40. Proofread MLS database listing for accuracy – including proper placement in mapping function.
41. Immediately submit digital photos of the your home to the MLS at the same time listing is input, allowing buyers and agents to view pictures when narrowing down home they will actually tour.
42. Add property to Century 21 Award Active Listings list; provide information in two locations in office for Realtors when potential buyers call for details.
43. Provide you copies of signed listing agreement and MLS Listing.
44. Get your input regarding verbiage for advertisement.
45. Offer Broker Open House, if applicable, to provide you with professional feedback and to promote your property to local Realtors and their customers, to maximize showings.
46. Create advertisement with your input.
47. Create, order, and deliver compelling flyers to hand deliver and/or mail to target customers, to stimulate calls on your home.
48. Provide market data to buyers coming from referral network.
49. Respond quickly to all calls and internet inquiries regarding your property.
50. Convey all price changes promptly to Internet real estate sites.
51. Capture feedback from Realtors after showings.
52. Place regular weekly update calls or emails to you to discuss all showings, marketing, and pricing.
53. Research weekly current laws, interest rates, and insurance conditions as it relates to the housing industry, and specifically how it impacts the sale of your property. Notify you of any conditions promptly.
54. Notify you immediately of all offers, potential offers, or needs.
55. Discuss feedback from showing agents with you to determine if changes will accelerate the sale.
56. Maximize showing potential through professional signage. Century 21 has the most recognizable logo and trademark in real estate.
57. Market your home on the following internet sites: SocalMLS.com, Realtor.com, Homeseekers.com, MySoCalHome.com, Homes.com, Redfin.com, Century21.com, Century21Award.com, ZipRealty.com, and many, many others.
58. If Open House is to be held, advertise beforehand for interested buyers.
59. Target market to determine who the most likely buyer willing to pay the highest price will be.
60. Install info box making property flyer available to those passing by.
61. Advertise home to all qualified buyers in my database.
62. Promote your home to all 90 agents in my office, and update them on any changes so they may convey enticing information to their buyers.
63. Personally call your immediate neighborhood and surrounding neighborhood to promote the benefits of your home.
64. Notify you of any activity in your neighborhood (i.e.: new homes on the market, homes that have sold, etc.) to keep you informed about key market conditions within your area.
65. Discuss qualifications of prospective buyers to help determine buyer motivation, ability to purchase, and probability of closing on the sale.
66. Provide Open Houses
67. Require FICO scores, verification of down payment funds, and preapproval letter from a direct lender on all offers.
68. Handle paperwork if price adjustment is needed.
69. Receive and review all Offers to Purchase contracts submitted by buyers or buyers’ Agents to determine best negotiation position.
70. Contact buyers’ agents to review buyer’s qualifications and discuss offer.
71. Evaluate offer(s) and prepare a “net sheet” on each for you for comparison purposes, if requested.
72. Counsel you on offers. Explain merits and weakness of each component of each offer.
73. Fax or deliver Seller’s Disclosure forms to buyer’s agent or buyer as soon as possible.
74. Confirm buyer’s qualifications by calling loan officer.
75. Negotiate highest price and best terms for you and your situation.
76. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent.
77. Fax or hand deliver copies of Fully Executed Contract to you, to buyer’s agent, loan officer, title company, office file, and escrow company.
78. Make sure that buyer’s earnest money is deposited in escrow.
79. Advise you in handling any back-up offers that may be submitted before closing.
80. Change status in MLS to “back-offers,” and then to “sale pending” after buyer has obtained loan approval and all contingencies are removed.
81. Coordinate home inspection and any further inspections that may be required (mold, geological, etc.).
82. Follow loan processing through to the underwriter.
83. Contact lender weekly to ensure processing is on track.
84. Relay final approval of buyer’s loan application to you.
85. Assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs.
86. Provide comparable sales used in market pricing to appraiser.
87. Update closing forms & files.
88. Ensure all parties have all forms and information needed to close the sale.
89. Confirm closing date and time and notify all parties.
90. Assist in solving any title problems (boundary disputes, easements, affidavit of death, etc.)
91. Work with buyer’s agent in scheduling and conducting buyer’s final Walk-Thru Inspection prior to closing.
92. Review closing figures on HUD statement to ensure accuracy of preparation.
93. Review all closing documents
94. Assist in scheduling the closing date and time.
95. Coordinate closing with you next purchase and resolve any timing problems.
96. Arrange possession and transfer of home (keys, warranties, garage door openers, community pool keys, mailbox keys, educate new owners of garbage days/recycling, mail procedures, etc.).
97. Change MLS listing status to “sold.” Enter sale date and price, selling broker and agent’s ID numbers, etc.
98. Answer about filing claims with Home Owner Warranty company if requested.
99. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied.
100. Respond to any follow-up calls and provide any additional information required from office files.