Recent changes in real estate values and lending practices continue to have a big impact on the process of selling a home. But even in challenging economic times, sellers can achieve their goals by selecting a real estate company with a targeted, focused approach to marketing their home.
Please contact us today to arrange for an initial visit to view your home.
In preparation for that meeting, please review the following overview of the selling process.
Tour the property:
The first visit to the property is an opportunity to meet you, tour the home, and discuss the general market conditions. It is also helpful to discuss your timeframe and objectives. During the tour, your River Valley agent will take notes, and ask you to point out upgrades, improvements and favorite features of the interior and exterior of your property. If needed, we will take measurements and photos.
At this time, you will also have an opportunity to request a pre-listing property condition evaluation. This evaluation will include a check list of items that must/may be addressed prior to listing the home. Some items might require “sweat equity” and others “dollar equity”, but all, if resolved, will help you obtain the best price for your home. Some of the recommendations will be about de-cluttering and de-personalizing, but others will be recommended repairs. You will need to repair obvious maintenance and safety issues, if they have been neglected. Some resale improvements will make a huge difference, and others will not yield return on your investment… we can counsel you on what will help your bottom line.
Pricing the Property.
After viewing your home, the River Valley agent will prepare a Comparative Market Analysis. Using the MLS, the agent uses their experience and knowledge of the inventory, and sometimes other public records such as tax records, your River Valley agent will do a comprehensive features and benefits comparison, weighing the features of your home with comparable properties. Some of the features analyzed include square footage, lot size, location, condition, and upgrades. After reviewing this analysis, your River Valley agent will then apply the current market conditions, inventory levels and anticipated seasonal activity to arrive at an anticipated sale price. From here, you will determine your asking price. Ultimately, the buying public determines the value of a home at a given time, but the anticipated sales price provides the basis for our negotiations.
Marketing the Property.
At River Valley we prepare a customized Marketing Plan for your home, in writing. This plan includes specific dates of completion. Our objective is to have as many qualified buyers be aware of your property, and obtain the best possible selling price for your home. In order to do this, we will need to market your home to two distinct audiences: area Real Estate agents, and the buying public. While some methods might overlap, in general these targets are reached in different ways.
River Valley hires professional photographers, floor plan designers and copywriters to create the building blocks for our print and online marketing campaigns. With a combination of signage, print ads, open houses, direct mail, social media, online search engines, web sites, and MLS exposure, we develop a specific, accountable commitment to high end marketing. Our agent will bring examples of our direct mail, print and web advertising for your review.
Additional information on our marketing programs can be found on our “Marketing Your Home” page.
Showing the home.
Your agent will coordinate showings of the home to potential buyers, based on the pre-determined instructions of availability and notification. Your agent will have shared with you things that should be done before each showing in order to present your home in the best light. These will include things like turning on all lights, temperature controls, and removing pets. After each showing, your agent will contact the buyer’s agent for feedback and relay that information to you. This is helpful to both you and the agent, as it identifies the features that attract, and dissuade, buyers.
Update the CMA.
On an ongoing basis, your agent will be reviewing any information that affects your home, especially as it relates to comparable properties, significant changes in area statistics and recent closings.
Negotiate and finalize the offer.
In New Jersey, when an offer is presented for your consideration, your agent will confirm the details and buyer qualifications before reviewing it with you. Further negotiation might be necessary with the buyer, and this is usually done verbally with the buyer’s agent. These are called offers and counteroffers, which are common in real estate transactions. Once both parties have reached an agreement the offer to purchase is revised to reflect those terms and signed by all. The attorney review period starts once both the buyer and seller have received these fully executed copies of the contract. During this legally required period, the attorneys that are representing both you and the buyer will communicate and make revisions to ensure it is written in a fair and concise way to avoid confusion. Also during this period, either buyer or seller may terminate the contract for any reason they choose without penalty.
In Pennsylvania, the contract is considered binding once it is executed with signatures.
Contingency Dates, Buyer’s Inspections. Seller Inspections
Once your property is under contract, we will follow up on contract contingencies, dates and deadlines. We will coordinate inspections with the buyer’s Broker, including structural, environmental and wood destroying insect (Also septic, if applicable). We will also assist you with the process of obtaining any municipal or state inspections, including closed permits, smoke alarm and carbon monoxide cert, certificate of occupancy, and private well testing. Along with your attorney, if you are using one, we can help negotiate any inspection repair requests, as well as provide you with names of reputable contractors if necessary.
Walk through and closing
We will coordinate the final walk through of the property, and if appropriate be there to address any concerns the buyer might have. We will accompany you to the closing table, and be available to your attorney or settlement agent to assist with any last minute details that might arise.