Information provided is intended for education purposes. Based on single family dwelling home in Pennsylvania . Real estate transactions are unique and do not fit exact molds.

YOU’VE CHECKED OUT THE PROS AND CONS

OF SELLING YOUR HOME YOURSELF

OR

USING A PROFESSIONAL REALTOR

PROFESSIONAL WINS.….

WHAT DO YOU DO FROM HERE?

Finding the right Realtor can and should save you stress

and money during the home selling process.

Step OneFind a Realtor.

What to Expect From Your Realtor

Be a serious full-time Realtor.

Be experienced.

It counts….86% of agents are in the business is for only 1 year. 1. There is an average 1st year failure rate of 86%. That works out to 30 agents

remaining in the industry for every 200 who try.

2. Only 7% will renew their license.

3. 76% of the industry is earning less than $30,000 per year. * September 1, 2010 Realty Times

Be knowledgeable of Market conditions.

Understand the importance of, and, how to reach the correct pricing.

Be a master of negotiations.

They should ………

What else to expect from your Realtor

Understand, take seriously and keep abreast of all Pennsylvania Real Estate laws and Ethic Codes.

Be able to communicate effectively. For instance some people prefer “nose to nose, toes to

toes, belly to belly” negotiations, some want mostly phone contact , while others are most comfortable with newer technology.

Communicate often with you.

Communicate often with any potential Buyer or Buyers Agent.

Have a large and diverse client contact database in which to help draw potential Buyers.

Be a member of the multi-list and professional Realtor Associations.

They should……

Step TwoPaperwork and Pricing…The most important decision in getting your property sold is pricing.

There are generally three reasons why a home does not sell…

Price

Location

Condition

Sign all Seller paperwork.

Disclose everything.

Decide on pricing.

You can avoid potential problems with the location and the condition if your house is priced properly.

Proper pricing will be one of the biggest determining factors of a successful sale.

Staging the propertyBy now, chances are you have heard, read or seen on TV the importance of “staging” your home.

The most important part in the staging process is having a clean home.

Before starting the “staging”, clean, de-clutter, clean again and then polish. Fix the small stuff (doorknob loose?) Take notice of the little things, the Buyers certainly will!

The best fragrance you can have in your home is NO smell.

This will be the biggest return on an investment when preparing your home for sale.Clean

De-ClutterPolish“Stage”

Step ThreeThe importance of preparing your home for sale

You’ve already hit a “wow” factor by cleaning, de-cluttering and polishing.Now start the staging ..

Staging your property is the way of having the potential Buyer fantasize that they belong there. Your property needs to become their dream home.

Some ideas…. Stage Bathrooms? Certainly! Put out clean, fluffy, rolled towels , maybe

stage with slippers or a couple of champagne glasses and candles. Fireplace? Put wine glasses on a silver tray with a chenille throw near the

hearth, or…some stacked board games with a plaid-style throw. Empty corner? Stage a reading area with a comfy looking chair, small table

with lamp, a classic book and even reading glasses. Staging Closets? Yes, this is very important. Try using baskets for storage

so the closets look bigger. Store your out of season clothes, and if possible use all non-wire hangers.The staging areas to concentrate on should be the kitchen, master bedroom and master bath. Buyers mentally center around these rooms most often. Make the beds using throw pillows and clean linens. Clear small appliances off of counters and scrub those that have to stay. Clustering live green plants around the house helps projects a sense of calmness.

Realtor TipWhy you should “Stage” your Home.

Home “A” Home “B”

New windows

New roof

New furnace

New air conditioning

New wiring

New kitchen cabinets

Painted in reds, oranges, golds, greens, and yellow with red velvet couches and burnt orange chairs mirrors throughout and a grand chandelier hanging low in the powder room.

Unique would be the kindest word to describe the décor

Priced $128,500

The home had all original mechanics with no updates

Spotlessly cleaned and polished

Staged well with a very “chic” design

Understatedly elegant furniture

Priced $159,900

For example, home “A” and “B” were on the same street, were the same style, the same age, and built by the same builder.

On paper that $31,400 savings should buy plenty of paint (and a painter!) and still have a hefty savings. Remember, the Seller will be taking the furniture , either lovely or ugly, with them when they move.

In this case, Buyers were interested in home “A” but could not see beyond the ugly style of decor.

The temporary staging of home “B” sold the home, despite the better value and lower price of home “A.”

YAY! You’ve found a BUYER!

After the relief of finding a Buyer wears off, the next normal emotions are fear and second guessing yourself:

Could there be a better offer coming tomorrow? Was the price right? Do I want to move? Will they love the house as much as I did?

These are very common especially if everything works like clockwork and you get a very fast offer. Do not forget that was the goal!

Know your emotions are normal and this is an exciting albeit high stress process you are going through. Stay cool and enjoy.

Step Four

The Negotiations

Utilize your Realtors experience when negotiating.

Price is important, but only part of the overall process.

Terms are also extremely important, which, can be overlooked by an inexperienced negotiator .

Examples of terms

ContingenciesClosing datesClosing cost concessionsSize of earnest money Type of financing Inspections

Step FiveThe offer is acceptable.

The Buyer will usually schedule inspections.

Buyers apply for Homeowners insurance and apply for mortgage.

The closing attorney/settlement company are chosen.

Most commonly, there will have been re-negotiations, and additional paperwork, and a few different addenda signed.

But…FINALLY,

Terms and price have been negotiated to finalization.

All inspections are acceptable.

Financing is complete.

Appraisal is cleared.

You can start getting ready for your closing date.

Step Six

Confirm your closing date.

Arrange to shut off utilities from your name on day of settlement.

Start packing!

Step SevenClosing

At least 24 hours prior to closing you should receive a HUD 1.

You will need to bring a valid picture ID (Drivers license, passport, etc).

Usually at the table is the Buyer, Seller, Settlement Attorney and Realtors.

The typical closing lasts about an hour, but is always a good idea to allot 2 hours.

All closing documents are finalized and signed.

Keys are turned over to the Buyer.

Congratulations….you have accomplished your goal!