Pre-Marketing Your Home

Article 1 of series

*My articles are my opinion based on personal experiences and readings. I do not "copy and paste" except on rare occasion. If I copy and paste that source will be referenced.

When you are thinking about putting your home on the market and/or listing with a real estate agent:

#1: Have alternative plans ready. What is your EXIT plan should your home sell quickly? What is your plan if the sell of your home is not meeting your time expectations?

#2: Keep your eye on closing. What can you do that will help you get there quicker and with as little frustration and roadblocks as possible?

Real Estate transactions do not have to be adversarial, especially if you are asking a fair price for the known condition of your property. I like my sellers to consider potential buyers as "their" customer. I like representing sellers who also remember what it is like to be in the buyer's shoes. Within the guidelines of Fair Housing protocol-what does the buyer need to know and want to know?

I advocate being up front about anything and everything that pertains to the quality and history of your home. Though you will likely fill out a Seller Property Disclosure report, I highly recommend ordering a C.L.U.E.® report . The Sellers Disclosure report will give up to 5 years of claims history. It will help you make sure you did not inadvertently forget to list an important event and it will make you look good no matter what the report discloses. People like to do business with people that are forth coming. The report will not include private information such as your social security number.

Willingness to provide documentation at your cost; in my opinion, removes a lot of question marks from the already stressed potential buyer. Put yourself in the buyer's shoes.If it came to a draw on competing properties and there were no more apparent advantages or disadvantages to sway the decision. Would validated informaton make a difference to you? As a buyer, would validated information be especially meaningful in an area prone to natural disaster?

Your claims history could have an effect on the new buyer's insurance premiums. In my opinion its better to be prepared ahead of time than to get close to closing and find that unexpectedly high insurance premiums puts the transaction at risk.

Likewise, when you are buying your new home you are justified in asking the seller to provide the same report on your home of interest. In my opinion, the seller that already has one gets higher consideration than one who will get one upon request.

I am not authorized to quote price for the report. You can get that information online by clicking the above hyperlink C.L.U.E® report. (incidentally, I am not an affiliate and do not receive compensation of any kind for recommending this report). Spending $20 bucks (mol) makes $ense to me when you are in a high dollar transaction and trust may be an issue.

I recommend setting up a central location to create a display of information regarding your home. You may want to include utility billing covering the most recent year. You should be able to get this in a report list format from your utility companies. It is also a nice touch to have HOA and CCRs on display as well as tax information. Include a note if you are in a special discount plan if the buyer's rate may be different from yours.

Consider having a pre-inspection done for the home and leave that on your display as well. Again, the forthcoming and level of trust can give you the competitive edge-especially if you are listing your home in consideration of repairs that may need to be done. In my opinion, it is better to meet objections head on than to have an accepted offer that turns ugly after inspection. You may be more likely to attract cash buyers.  Again, in my opinion, pre-inspections are worth it especially if your home is in a natural disaster prone area, and or if you tend to be a "do it yourselfer".  A buyer may choose to have their own inspection done when placing an offer. However, in a competitive market just the fact that you have been open and verified the condition of your home can make a difference in how long you are on the market.

Do you need a pre-appraisal and is it worth the money you spend? Appraisers use much of the same information that your real estate agent will provide in a CMA; likewise for the buyer agent doing a CMA on your property for a prospective buyer.

However, a CMA is not  an appraisal. If your property is unique and there are not suitable comparable properties available, perhaps you should consider having one done. (Unless your price is your price regardless of anyone's opinion.) Plus, it takes the "vested interest" factor out of the equation concerning your agent. Some people say we price "high" to get the listing; some people say we price "low" to get the listing. After all is said and done, even with an appraisal-the seller decides the list price and the buyer and seller determine market value.

Personal touch: You may want to leave a letter to prospective buyers welcoming them to your home. Let them know what you have enjoyed most about living there and what you think is special that you might miss. Is your home a quiet respite? Do you have special birds or non-intrusive animals that visit? What is your favorite nearby businesses? You may want to invite them to have a cold drink from your (clean) refrigerator. Also, you may want to create a bulletin sheet per room pointing out special features. Remember to note if you have more than one hot water heater, or air conditioning system, and if any item is of superior grade or capacity.

You may want to answer the most commonly asked question in advance-why do you want to sell? This is an opportunity to focus on the positive projection of your future without putting your negotiating edge at risk.

Last, please put your valuables away. I prefer that photos of children be put away as well. Remember, in terms of a lifetime, you will be in this stage of transition for a short while. Enduring a few inconveniences will be worth it.

*Consumer feedback is a guiding light and always appreciated.

©Suzi Gravenstuk