Barbara Sondgerath

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from Buying, Owning, and Selling Your Home

Introduction
How To Choose A Realtor
Price Your Home Effectively
Comprehensive Marketing Plan
Screening Buyers
Selling Your Own Home

Introduction
Whether you are making a job change, retiring, or you just need a change of scenery, one thing is certain:  You want to get the right price, with the  right terms, in the right amount of time.   You may think selling a house is easy, but ask yourself:  How many houses did you look at before you bought the one you own at present?  How many other  people do you suppose went through those homes before a buyer was found?  Get the picture? You may think that the first person who walks through your door will fall in love with the place, but perhaps you need some distance, and a good real estate agent.

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How To Choose A Realtor
Your home probably will be the most valuable possession you will ever sell.  It takes skill, experience, and an understanding of the  market.  Licensed real estate professionals have the training and marketing tools to maximize your return.  Realtors abide by a strict Code of Ethics.

Most professionals would advise you to look for an agent with a background of success in your area and type of property.  Carefully calculate his or her level of preparedness.

It has been said that there is a buyer for every home.  But if you don't have the experience and resources to properly position your house for sale, that buyer can be elusive.  That is why many prospective  buyers work with real estate companies, to become part of the real estate community buyer pool.

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Price Your Home Effectively
One of the first things an agent will do is help you price your home effectively.  Sometimes sellers mistakenly believe that they should price their house higher knowing that they can come down in price if it doesn't sell.  But this practice can backfire on the seller.  Buyers usually shop around before buying; they often recognize  value in a specific price range because of this comparison shopping.

Using the Multiple Listing Service (MLS), a real estate agent will conduct a Comparative Market Analysis.  This involves a survey of homes that are on the market, or have recently sold, that are similar to yours.  The agent will then advise you on the additional value (or deficit) of your home's unique features, and factor that into the equation.  Depending upon how anxious you are to sell (and how rapidly  you need to close), he or she can suggest a slower strategy that may fetch top dollar, or a "barn-burner" that is designed to sell it immediately.

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Comprehensive Marketing Plan
Once the Listing Agreement is signed, your agent will develop a comprehensive marketing plan.  But first he or she will tour your home and suggest ways to make it show better.

Your agent will likely put your home in the MLS so that other agents can become aware of the property and may bring prospective buyers to view it.  Ask an agent to prepare "cooperative agent showing  instructions" and highlight and fact sheets.  These will help colleagues to communicate the unique characteristics for your home.

Agents also will network between offices, perhaps conduct open houses, and suggest ways to stimulate activity.  Professional networking is of vital importance.

Your agent also may recommend incentive programs, such as assistance with the down payment or closing costs, that motivate buyers.  In addition, seller's inspections and home warranties may give the buyer the  confidence to offer move, or agree to a fast settlement.

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Screening Buyers
An agent will also help you screen buyers.  He or she is trained to recognize a high level of interest, and can probe to find out if prospects can afford the house, whether they can meet your contingencies, or have any of their own.  This can save you a lot of exasperation.

Ideally, your agent will be your intermediary with buyers, and will convey your response to any offer (he or she must submit all).  This may help to avoid unpleasantries.  When you accept an offer, your agent will stay with you through settlement to make sure the documents are in order.  He or she can help the buyer locate professional services, as well.

By the way, only you can decide if you should buy a home before selling yours first.  Usually, it is better to sell first, then buy, unless the property you want to purchase is so important to you that you are  willing to run the risk of maintaining two houses simultaneously.  When the timing of a dual transaction is mishandled, it often creates financial and emotional stress.  Moreover, it can weaken your negotiating position when selling.

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Selling Your Own Home
Another option you have is to sell the house yourself.  In real estate parlance, this is called  a FSBO ("For Sale By  Owner").  The obvious advantage to doing this is the money you will save by not having to pay a commission to a real estate agent.

Before running out and hammering a "For Sale" sign into the front lawn, honestly ask yourself if you will have the time to dedicate yourself to selling the house.  Can you handle the phone calls, schedule appointments, and show the house at any time?  Are you thick-skinned enough to just stand there and smile when a prospective buyer makes an unflattering criticism about your home?  Do you become  flustered easily when discussing money, particularly while negotiating a fair price for your house?

You must realize, also, to be successful you will have to advertise the property.  Remember, real estate professionals have advertising and marketing tools at their fingertips; they also have access to the  Multiple Listing Service.

If, after weighing all the pros and cons of a FSBO, you still want to go it on your own, give it your best shot.

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