Step by Step of the Selling Process
STEP BY STEP OF THE SELLING PROCESS
1. Agents call my office to confirm availability of your home and any special showing instructions.
2. Agent requests appointment time with appointment desk and learns how they can access your home using a lock box or various key situations. Appointment desk calls you, the homeowner, with scheduled appointment time and/or leaves message on your phone or email.
A) Condition of your home - Yes, it's like company is coming everyday! You must be ready to make a good first impression!
- Beds are made
- Dishes are put away
- House is clutter free
- Pets are out of the way
- Lights are turned on
- Can you smell last nights fish?
- Better not to be home (hide or be very inconspicuous)
Please see 'Lyn's Selling Tips' for further ideas and great staging suggestions!
B) Apologize for brokers and/or buyers who are inconsiderate.
- Short notice
- No shows
- Lights might be left on
3. Agent shows your home - buyer views property. Buyer compares your home with other properties and decides if it meets all their needs and requirements.
4. Each showing of your home is registered with my office. My listing coordinators and I have the following information at all times:
- Name of agent who showed house.
- Name of their real estate company, company location, contact numbers.
- Each showing is also recorded and stored into the lock box for added security and clarification. Information can be retrieved at any time needed.
5. I will e-mail the showing agent a survey for feedback regarding your home. I will answer any questions the buyer or agent has, try to overcome any objections and encourage the writing of an offer. 'Showing Desk' feedback will be presented to you on your home by email including the total number of showings. This will be available for your viewing at any time you choose on an ongoing basis.
Many showings with no offers means something is wrong ….
No showings can mean …..
- Price is too high
- Market conditions have changed
6. Offer is written by the buyers agent and signed by the buyer.
7. Agent for the buyer calls me and informs me of the offer. The written offer is then sent directly to me.
8. I call you to notify you of the offer's terms, price and conditions.
9. I will review the buyers’ qualifications, questioning all pertinent facts upon presentation of offer. All buyers are now expected to be pre-approved with the mortgage company & loan officer of their choice.
10. When the offer is presented to you ….. you will have three options …..
- Accept offer as written OR
- Reject offer - this is a little too 'hard nosed' for today's marketplace OR
- Counter the offer (price, terms, dates, etc.)
- Think of the offer as only a 'place to start'.
11. When the offer is accepted by both buyer and seller, I distribute copies to all involved. Until everything is signed and initialed, we do not have an accepted offer and your house continues to be shown to prospective buyers. All contracts have the customary five (5) day attorney review.
12. The buyers’ earnest money is deposited in a special escrow account to be credited to the buyer at closing.
13. I validate financing & financial follow-up for buyer. It is now customary and mandatory for buyers to be pre-approved for the mortgage BEFORE they have an offer presented. This pre-approval is attached to the offer submitted.
14. The home inspector, buyers’ agent and buyer (parents, grandparents, friends too!) are present during customary home inspection. This is done within the first 5 business days to coincide with the attorney's review. Depending on the size of the home, this could take up to 4 hours.
15. An appraiser from the buyers’ lender will call me for an appointment to inspect and appraise your home. This is where we will present 'comparable sales' of your home to the appraiser. Measurements will be taken for total square footage.
Between now and closing I follow up with …..
- your attorney
- buyer’s attorney
- other agent
- mortgage company/loan officer/loan processor
….. to coordinate and follow up on the details involved.
I'm also making sure:
- Survey is ordered and received
- Letters from associations, condo docs are ordered and received (if necessary)
- If anything needs to be hand delivered to expedite things it can be handled by me or my staff.
- If any problems arise, I immediately concentrate on solving the problem to minimize delays.
16. Once the buyer has been fully approved for the mortgage, a closing date and time is set by your attorney.
17. 24 to 72 hours prior to closing, I will coordinate a time good for you so the buyer can make his/her final walk-thru of your home.
18. Transaction closes - your happy!