Selling A Home

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www.integrityfirstrealtyinc.com Selling Your Home © REALTY EXECUTIVES International, Inc. Integrity First Realty, Inc. 263 Brick Blvd, Suite 1 Brick, New Jersey 08723 Phone: (732) 262-0808

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Process for selling a Home

Transcript of Selling A Home

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Selling Your Home

© REALTY EXECUTIVES International, Inc.

Integrity First Realty, Inc.263 Brick Blvd, Suite 1Brick, New Jersey 08723Phone: (732) 262-0808

www.integrityfirstrealtyinc.com

Home Selling Process

Pre-assessment value listing signed mkt prepartion

Marketing flyers tour MLS-Internet

showings open houses follow-up

Mid-assessment traffic # showings offers

Offer earnest money negotiation contract

Inspections mechanical structural pest

Mortgage appraisal credit underwriting

Title review binder policy

Settlement transfers title possessionassemble papers

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Inspections

• Mechanical

• Structural

• Pest

• Pre-market for discovery– Eliminate obstacles that adversely affect buyers

– Compare and validate buyer’s inspection.

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Market Preparation

• Buyers can’t afford to make repairs or decorate

• Buyers over-estimate cost of repairs and decorating

• Agents remember the home the way it is when they first see it.

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Marketing Plan

• Comprehensive CMA

• REALTY EXECUTIVESyard sign

• Multiple Listing Service

• Internet exposure

• REALTY EXECUTIVESTour

• Color property brochures

• Open houses

• Alternative financing plans.

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Exposure to the Marketplace

• Existing buyers

• Multiple Listing

Service

• Internet

• Best agents

• Neighbors

• Centers of Influence.

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Negotiation

• Third party

effectiveness

• Increased

communication

• Avoid conflicts.

ne·go·ti·a·tion, noun - A process of

discussion intended to reach an agreement.

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Mutual Objectives

• Maximize Value

• Minimize market

time

• Eliminate/Avoid

difficulties.

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Seller

sets

Price

Buyer

determines

Value

Pricing Roles

Lender

validates

Value

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Factors That Affect Value

• Comparable sales

• Inventory of homes available

• Available mortgage money

• General economy

• Favorable terms

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Terms Can Increase Value

• Seller carries a 1st lien below market rate

• Seller carries a 2nd lien for buyer to avoid PMI

• Temporary buy-down

• Seller paid points

• Subsidize buyer’s costs

• Make specific improvement required by the buyer

• Include a decorating allowance.

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Factors That Don’t Affect Value

• What you paid for the home

• The cost to rebuild it today

• Your investment in the improvements

• Certain types of improvements.

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Obstacles to Proper Pricing

• Incompetent agents who will accept a listing at any price

• Neighbors who mislead the seller as to how much they got for their home

• Fear of making a mistake

• Loss of perspective because the seller is emotionally involved

• Need to realize a certain amount of cash out of the sale.

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Overpricing

• Reduces sales associates activity

• Reduces marketing response

• Loses interested buyers

• Attracts the wrong prospects

• Eliminates offers

• Helps sell the competition

• Extends the market time.

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Appraisal vs. CMA

YesNoConsiders current sales

YesYesConsiders past sales

YesYesLicensed

AgentAppraiserPerformed by

YesYesEstimate of value

CMAAppraisalDescription

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For more information on the selling of your home contact us at:

Realty Executives-Integrity First Realty, Inc.263 Brick Blvd, Suite 1Brick, New Jersey 08723Phone: (732) 262-0808