Listing Your Home for Sale

After you and/or your real estate agent have determined how much your home is worth, it is time to list your home.  If you are using an agent, he or she will prepare an “Exclusive Right of Sale Agreement” and present it to you for your signature.  If you are not using an agent obviously this paperwork is not necessary.  The biggest benefit in having your home listed with a REALTOR® is that your home will appear in the MLS systems.

What is the MLS system?
The Multiple Listing Service (MLS) is a database of every home for sale listed by a real estate agent, unless the property has been specifically exempted from MLS.  It is a sharing of comprehensive home information among real estate professionals. Listings brokers enter the data about a home for sale and offer to share the commission with a broker who brings a buyer. It's an online software that contains all the specifics about a home, from the address, age, square footage, number of bedrooms, baths, upgrades and schools districts to types of financing the seller will consider, and more. There is generally at least one to a dozen photographs of the home, plus a link to a virtual tour, if one exists.

Can Non Agents Access the System?
Home buyers make the mistake of believing they can access this information through online feeds such as REALTOR.com, Zillow, and Trulia to other services.  Although many MLS systems syndicate to sites such as this it does not replace the MLS system.  Often the information found on these sites are limited in scope, outdated, or inaccurate.

Can a For Sale By Owner Be Listed in the MLS?
There is no separate category for a For Sale by Owner (or FSBO) listing.  Some the MLS systems can contain listings from sellers who are unrepresented.  Some FSBO listings have found a way to circumvent some MLS restrictions.  They pay a flat fee to a discount real estate broker to enter the information into the MLS and direct that all offers be presented to the seller.  This practice however, is often frowned upon or prohibited by MLS authorities.  If this is the case, the listing will be deleted from the system.  Also the selling commissions are often less than the fee agents are offered by traditional brokers -- which does not motivate agents to show these listings, even though they cannot legally refuse to do so.

When it comes to selling your home, you are embarking on a transaction involving the largest asset you have.  Why would not trust that to an expert.  Many people when they consider selling their house themselves only see the savings on commissions but what they don’t see is the fact they might not have the resources, knowledge, or expertise to sell their home.  At the very least, by trying to save some money by not paying commissions, they could be losing on the over price that they sell their house for.  Team Johnson of Watson Realty Corp. has the resources to get the job done.  We belong to not 1 but 3 of the MLS systems in the area and can provide you with more exposure than a typical real estate agent.  Put the power of a team to work for you.

Team Johnson
Watson Realty Corp
St. Augustine, FL 32086
904-495-0146
Click Here to Search the MLS Like an Agent
View My Website
Click Here to Email Me

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Pricing Your Home For Sale

Getting ready to sell? The more you know about conditions in your local market, the better your chances of getting the best possible price for your home.  In many cases, making a smart deal and getting the best price come down to studying your market and being an educated seller.

1. Recognize that housing markets are local.
Demand will change depending on the price range and even the neighborhood. You need to determine what the demand for a house like yours is in your area?  You have to look at what's being sold and at what price.  Look at the comparables for similar houses. What are the trends? Are prices going up or down — and by how much? How many days are homes staying on the market? If they are on the market longer, how much of that could be seasonal? In many areas, spring and summer are the busy seasons.  However, you also need to realize that the paperwork alone tells only part of the story. While sales and prices are public, many times seller concessions are not.

2. Analyze who is buying and selling in your market.
What's your competition? Who are the buyers, and why are they shopping? Are you competing against a flood of new houses from builders eager to sell, or are you selling a newer home in an area where most of the housing stock is older?

3. Assess the market where you plan to buy.
If you're selling one house and buying another, look at the market where you plan to move. In many instances it might be a great time to buy there so you try to sell quickly to buyer as quickly as possible

4. Ask the professionals.
When you interview real-estate agents, ask about the market conditions for your area and price range.  Specifically, ask about the "absorption rate" or in the current conditions with the current inventory, how long would it take the market to absorb, or sell, all the houses on the market? If the supply is much larger than the demand, ask potential agents how they would "price to offset that inventory. Talk to a handful of agents.  Look at your comparables. Taken together, that information will give you a pretty good idea of what your home is currently worth.

When it comes to selling your home, you are embarking on a transaction involving the largest asset you have.  Why would not trust that to an expert.  Many people when they consider selling their house themselves only see the savings on commissions but what they don’t see is the loss of their house being on the market longer or selling it for a lower prices.  Team Johnson of Watson Realty Corp. knows what it takes to get the job done.  We have led our office in top listings and top sales for the past three years.  Put the power of a team to work for you.

Team Johnson
Watson Realty Corp
St. Augustine, FL 32086
904-495-0146
Click Here to Search the MLS Like an Agent
View My Website
Click Here to Email Me

FIND US ON THE WEB

                

Seven Things to Consider Before Selling Your Home

When it comes time to sell your home, the thought of planting a "For Sale by Owner" sign on the front lawn and doing the job yourself certainly has its appeal. Foremost among them is the savings you'll pocket - potentially tens of thousands or more - if you cut out the real estate broker. However, there's a lot more to the job than just sticking a sign out on the lawn and, for some, the headache and work involved may not be worth the savings. Find out how to determine whether you'll be able to successfully sell your own home and what to expect if you choose this route.

Exposure
Your first consideration should be whether you can get the word out. You can put a sign on the lawn and make a number of relevant internet postings, but be aware that you'll be missing out on the following:
1)     An established real estate brokerage will have a network that reaches far beyond the city or town where you're located. In most cases, it can source qualified buyers both regionally and internationally and may even be retained by large corporations on the hunt for executive accommodations. These networks are well budgeted and managed, and have a professional staff dedicated to ensure that they generate sales for their clients.
2)     Most brokerages will pay for print advertisements in local, and some national media outlets. They may also target and distribute circulars throughout your city. Consider the costs of doing this yourself.
3)     Real estate firms have in-house marketing strategists who know what buyers want to see and can package your home appropriately, producing color photos, feature sheets and other materials for both brokers and potential buyers.
Not getting enough exposure may result in your property sitting on the market for a long time. If it sits long enough, you'll likely be forced to sell at a lower price. A home that sits too long on the market can also become stigmatized, leaving you without any traffic. People think "There must be something wrong with it if it hasn't sold already."

Market Information
The real estate market is a dynamic phenomenon, always in flux, with prices moving constantly, sometimes quickly, sometimes less so. If you can't correctly gauge the market's direction and speed, you may also fail to assess your home's correct value. This effectively renders you "out of market" and results in selling unnecessarily cheaply or - until you correctly assess your home's worth - overpricing it and waiting.
Contrast this with the instant access a real estate agent has to home sales information. Most real estate offices are equipped with software that can generate instant comparative market analysis pricing, a system that takes the subjectivity out of the process and provides an immediate selling range given any particular market's dynamic parameters. In active markets, this is an invaluable resource.

Negotiating Ability
This may be the most oft-overlooked part of the do-it-yourself (DIY) process, and one that should not be considered lightly. Do you possess the skill set necessary to successfully negotiate the sale of one of your most valuable possessions? Can you effectively manage the process through to a close against a seasoned broker or real estate lawyer?
Remember that you may be up against professionals who know the sale process very well. As such, they may suggest all sorts of terms and conditions that sound reasonable but really aren't in your best interest. Even an unseasoned real estate agent is likely to be aware of the implications of various terms and conditions - will you?
If you have never been involved in serious negotiations with savvy professionals, you are at a serious disadvantage. Your lack of experience could negate any of the benefits of having done it yourself.
Should you choose to have your real estate lawyer negotiate the sale, your fees may be even higher than those of a broker; the tradeoff is that you may get a higher level of expertise.

Legal Issues
Perhaps the most dangerous aspect of the home selling process involves contracts and closings, for which you will require the services of an expert who understands contracts and can steer the process to a legally sound conclusion. Many closings have been marred by legal niceties that led to unexpected outcomes or, worse, lawsuits, and ultimately a failure to sell at a price and time of your own choosing. Unless you are a lawyer yourself, this is one aspect of the process that should not be undertaken without professional assistance.

Value Added Services
Large real estate firms now offer numerous value-added services, such as pre-qualifying buyers for financing - and in some cases providing the financing itself. If you are not using such a firm, realize that your deal may wait until financing can be secured, and that time delays often produce buyer's remorse - a condition that sees potential buyers talking themselves out of a deal the minute they walk out your door. Better always to lock the deal shut as soon as possible. That means having the resources at hand to do so.

The Eccentricity Factor
Are you reducing the number of potential buyers because you haven't listed with an agent? Some house shoppers will be apprehensive about engaging a "for sale by owner" simply because it's not the norm. There will be anxieties and apprehensions that steer people away from paying your home a visit. For a lot of buyers, an established brand name and a sales professional with polish are more palatable. Ask yourself whether your decision takes you outside the real estate "mainstream."

Your Time
There is little doubt that you can fill an agent's shoes and sell your own home - but it will take preparation to do it successfully. How much time do you have? And what's your time worth? In the end, you need to determine whether your investment of time and energy will be repaid by the commission you save.


Conclusion
Of course you can sell your own home. If you make the commitment, do it right; the reward of a job well done and a few extra dollars in your pocket might make you glad you did. Just don't go into it blind and consider that you might just end up with more money in the bank and fewer headaches by leaving the job to someone else.  Team Johnson, together with Watson Realty Corp does more to market our listings than any other team in our area.  Put the power of a team to work for you.

Team Johnson
Watson Realty Corp
St. Augustine, FL 32086
904-495-0146
Click Here to Search the MLS Like an Agent
View My Website
Click Here to Email Me

  

FIND US ON THE WEB

                

Getting Your Home Ready to Sell

You have made the decision to sell your home.  Now that you are ready you will want to make sure that your home is ready.  Every seller wants their home to sell fast and bring top dollar.  It is not luck that makes it happen.  It requires careful planning and know-how.  One way to make this happen is to spruce up your home.  Here are some helpful tips that can turn your home into an irresistible and marketable home.

1.    Disassociate Yourself With Your Home.  Say to yourself “This is not my home; it is a house-a product to be sold.” Make the mental decision to “let go” of your emotions and focus on the fact that soon this house will no longer be yours.  Picture yourself handing over the keys to new owners and don’t look back-look towards the future.

2.    De-Personalize.  Buyers want to be able to picture themselves in your home.  Pack up those personal photographs and family heirlooms.  You want buyers to picture their own photos on the walls.

3.    De-Clutter!  Remember the old adage:  if you haven’t used it in over a year, you probably don’t need it.  If you don’t need it, throw it away or donate it.  Clean off everything on kitchen counters and appliances.  Put essential items used daily in a small box that can be stored in a closet when not in use.  Pack up books and knickknacks.  Use this as a head-start on the packing you will eventually need to do.

4.    Rearrange Bedroom Closets and Kitchen Cabinets.  Buyers will look everywhere.  If a buyer notices you keep everything neat and organized it sends the message you take good care of the rest of the house as well.  In the kitchen consider alphabetizing the spice jars, neatly stack your dishes, and turn all handles to face the same way.  In the closets hang like clothes together all facing the same way and line up your shoes.

5.     Rent a Storage Unit.  Almost every home shows better with less furniture.  Remove pieces of furniture that block or hamper paths and walkways and put them in storage.  Leave just enough furniture in each room to showcase the room’s purpose and plenty of room to move around.

6.    Remove/Replace Favorite Items.  If you want to take the window coverings, built-in appliances or fixtures with you, remove them now.  This also includes like fixtures (i.e. chandeliers).  Removing these items now will avoid problems later.  You don’t want to end up in a contract dispute or have the deal fall apart over a chandelier in the dining room or a washer/dryer.

7.     Make Minor Repairs.  Take a critical look at your home.  Repair any holes in the drywall or cracked floor or counter tiles.  Fix and leaky faucets.  Fix doors & drawers that don’t close properly.  Also, replace any burned-out light bulbs.  Also take a good look at your décor.  For example, if you have a worn bedspread consider replacing it now.

8.    Make the House Sparkle.  You will want to make your home show itself to its greatest advantage.  Wash all your windows both inside and out.  Pressure wash sidewalks or other exterior surfaces like pool decks.  Check the bathrooms and re-caulk tubs, showers, and sinks if necessary.  Clean your home from top to bottom including dusting ceiling fans and light fixtures.  Don’t forget the cobwebs in the corner and the dirt on the baseboards.

9.    Scrutinize.  Go outside, open your front door and stand there.  Ask yourself “Do I want to go inside?”  “Is this a welcoming house?”  Linger in the doorway of every single room and imagine how your home would appear to someone seeing it for the first time.  Examine how the furniture is laid out.  Before you leave the room inhale deeply.  What do you smell?  You want your home to smell crisp, clean, and inviting but not overpowering.  Consider airfreshers with a “crisp linen” or “ocean breeze” title.

10.  Check Your Curb Appeal.  We’ve all heard the expression “you never get a second chance to make a first impression.” The exterior of your home is the first impression.  Keep the sidewalks clear.  Mow your lawn and trim and hedges or trees. Also, make sure visitors an clearly read your house number either on your house or on your mailbox.

If you’ve completed all these steps your home is ready to be placed on the market for sale.  Stay tuned for our next article in this series entitled “Choosing the Right REALTOR® to Sell Your Home.”  If you have any questions regarding the real estate process give TEAM JOHNSON of Watson Realty Corp a call.  TEAM JOHNSON has a team of REALTORS working to sell your home as soon as possible and for top dollar.  We are members of 3 local MLS boards and successfully list and sell properties as far south as Palm Coast, as far west as Palatka, as far north as Jacksonville and everywhere  in between.  Give us a call at 904-495-0146 or email us at teamjohnson@watsonrealtycorp.com

Team Johnson
Watson Realty Corp
St. Augustine, FL 32086
904-495-0146
Click Here to Search the MLS Like an Agent
View My Website
Click Here to Email Me

  

FIND US ON THE WEB