Guaranteed Service. Guaranteed Savings.
Satisfaction Guarantee- If at anytime you area not completely satisfied with the Fox Real Estate program, we will release you from the listing agreement with a 48 hour written notice. See if other agents will put that in writing!
Fast Sell Guarantee- We’re so sure our marketing program works, that we guarantee your home will sell in 30 days or we’ll pay you $500 at close of escrow and continue listing your property until sold.
Most sellers factor the commission into their asking price. But the fact is that the commission comes out of their equity, raising their costs. If a home was purchased a decade ago for $200,000, for example, and sold recently for $600,000, the 6 percent commission would be $36,000. But a seller pays the commission out of the equity, or what’s left after paying off the bank and other costs. If the equity is $400,000, that $36,000 is actually a 9 percent out-of-pocket cost for the seller.
Selling is tougher than it seems. Even in a hot market, there are homes that donâ€™t sell for one reason or another. If you make one of the 16 common mistakes, you could find yourself doing the slow burn even as your neighbors are selling in the blink of an eye. One thing to keep in mind, you could have the best home in the neighborhood, but if it’s not advertised and marketed in different channels, no one is going to know about it. If your home is priced too high, remember the buyer determines the price, not the seller. If all the buyers conditions are meet, then and only then do you have a deal.
To get top dollar for your home, five conditions have to be considered:
1. Location…. If your property is in an clean, trouble free neighborhood, has all the amenities and conveniences, such as close to schools, shopping centers, medical centers, transportation, etc.
2. Condition….If your property shows pride of ownership both inside and outside, is well maintained, landscaped and has curb appeal.
3. Price…. If your home is priced right, it will sell within days. If your home is overly priced, or it’s priced over the CMA, you can plan on a long waiting period.
4. Commission… Yes, in order to sell your home faster, not necessarily for more money, you have to offer the buyer agent at least 2.5% commission, sorry, but that’s the way it is.
5. Listing…. Don’t let some pushy real estate agent tell you that they can get you top dollar and sell your home faster. The market determines the price and days on the market.
Mistaking Motivation. Why are you selling? The difference in selling because you want to and because you have to infects every part of your home sale: Don’t send mixed messages to the agent and any prospective buyers who walk through your doors.
Failing To Prepare Your Home For Sale. If you don’t want top dollar, don’t clean your home before you show it. Most buyers will be disgusted with the way your home looks and smells, but there will be someone who will make you a low ball offer. Instead of selling “as is,” today’s market is filled with blue-ribbon buyers. They want a home to look its best and be completely done before they move in. They’ll pay extra for a home that’s neat, clean and has all the odds and ends fixed up. So unless you feel like giving away money, clear away the clutter, repair, repaint, and replace anything that needs it. Want to sell your home faster and for more money, avoid the 16 Biggest Sellers Mistakes.
Find a Realtor. You should only select a local realtor, one who knows your area, knows something about your community, but more importantly, the schools, shopping centers, entertainment, restaurants, transportation, medical facilities, freeway access and so on. Make sure to ask the realtor how much the commission fee will be. Don’t settle for the so-called standard 6%, that’s going away. Check the commission split. Remember that the buyer agent will not show your home for less than 2.5%. If the listing agent does not split the commission, word travels and no buyer agent will show your property. Pay attention to the Listing Agreement, especially if you intend to have your home placed on the MLS. Make sure that at least six photos have been taken and that the listing agent will put those photos on the MLS within a three day period. Potential buyers will bypass looking at homes with no photos. Don’t under any circumstances sign a contract for longer than 30 days. Get a copy of everything you sign and always use a blue pen. Get everything the agent told you or promised you in writing, if it’s not in writing, then it doesn’t exist.
Advertising Your Home. Your home should receive immediate attention with photos and descriptions upload to the agent’s Internet websites within six hours or less and up to three days for the MLS when you list. Remember, over 80% of home buyers use the Internet when searching for a home. The listing agent must have your property listed on multiple websites for maximum exposure. Your property should be advertised in rack flyers, these are flyers that are found in major shopping outlets, 7/11, AM-PM and selected Bart stations. There are also direct mailing flyers, post cards, door hangers, news papers (not the standard 3 liner open house ad, but the full description with picture) and Real Estate magazines. Your listing agent should network with other Realtors in the area, must be available to host your open house and provide weekly updates used to monitor the advertisements and buyer traffic. Make sure you’re getting everything that the listing agent told you, after all you’re paying for it.
Market Value. A home price for which a willing seller would sell and a willing buyer would buy, with neither being under any pressure to act. In the current Tri-Valley market, the average home in the average location, that is priced within 2.5% of it’s market value will typically sell within 5 to 20 days. A recent nationwide study found that in general, homes that were listed for sale at 101% of their market value typically sold within 2 weeks. Homes that were listed for sale at a price that was between 102% and 105% of their market value typically sold between 4 and 12 weeks after coming on the market. And homes that were listed at more than 110% of their market value typically took about 14 to 20 weeks to sell.
Best Time to Sell. A recent study by the National Association of Realtors contradicts this notion by reporting that people buy homes all year long. The study found that there is some seasonality to home buying, but not as much as might be expected. Summer accounts for 30.2 percent of home buying activity. Spring takes second place with 25.9 percent. Autumn is third with 24.8 percent, and the slowest season is Winter with 19 percent. Surprisingly, the differences between Spring, Summer and Fall aren’t that big. And Winter is far from dead.
Buyer Incentives. The most important issue is to make sure that you are dealing with a pre-qualified or pre-approved buyer. To build confidence in the buyer, offer a Home Warranty plan and offer to split the cost for a Home Inspection. Have the termite inspection already completed and any other inspections, disclosures and information about the home ready and available for the buyer to review. Some buyers will want extra incentives, such as help with their closing cost or carry a second mortgage, you should avoid this type of buyer because they probably could not qualify for a home loan. Fox Real Estate offers their buyers a 25% rebate as an incentive.
Stage Your Home. Rent a storage unit if you have to. Try to look at your home through the eyes of a buyer. That stack of stuff in the corner that you are so used to looking at needs to be removed. If your home is small and or crowded consider rearranging or removing furniture . The exercise equipment that you never use – Store It! Accessories are wonderful and should remain in moderation. Go to some model homes and see how they look. They have accessories, but nothing is overdone. Closets should be uncluttered also. Remove out of season clothes and give all those things you no longer need to charity. Stack things neatly on shelves. if your furnishings are sparse, borrow some pictures for the walls, cover the beat up sofa with a throw and bring in a flower arrangement. Just use common sense, make your home look the best you can. Your home should sparkle. Don’t overlook light fixtures, a clean fixture can make a huge difference in the lighting in a room. While you are cleaning the fixtures replace dim bulbs with bright ones. Make sure your bathrooms are spotless, faucets should be shiny, counters empty except for a few accessories, fixtures cleaned and fresh (get the rust stains out of the toilet etc), mirrors should be clean and streak free. The same goes for the kitchen – sparkling faucet, clean shiny sink, cabinet fronts should be wiped down or cleaned, replace drip pans on the range. Wash all light switches, get rid of all the fingerprints. Go through your home room by room and make sure everything has been cleaned, even the utility room, furnace and garage. Also see Detail Staging…..
Open House. If you feel comfortable talking to total strangers, asking personal questions for qualification purposes, then you should know what to expect when you conduct the Open House, If you had a realtor or loan officer show your home, always check to make sure that all the windows are locked and everything is where it was when you left.
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