A Seller's Guide For Success:

>>> Analyze why you are selling; if you understand your motives, you will be able to better negotiate & to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.

 

>>> Prepare your home for the buyer by maximizing the strengths of your property & fixing up its weaknesses. You want the buyer to walk away from your home with a lasting good impression.

 

>>> Find not just a good but a GREAT real estate agent that understands your needs.

 

>>> Make sure that your agent is loyal to you, & can negotiate to help you achieve your goals. In addition, they should be assertive & honest with both you & the buyer.

 

>>> Be prepared for negotiation by learning & understanding your buyer’s situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through.

 

>>> Negotiate for the best price & the best terms. Learn how to counter offer to get the maximum value from every offer.

 

>>> Make sure the contract is accurate & complete. Be honest with your disclosures; you do not want to lose the deal because you were lying or diminishing your home’s defects.

 

>>> Insist the buyers get a professional inspection. This will protect both you & your buyer.

Download the Seller's Guide - 2025

WHAT’S YOUR MOTIVATION?

KNOW WHY YOU ARE SELLING.

If you know exactly why you are selling then it is easier for you to follow the right plan of action for getting what you want. For instance, if you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not necessarily one of your priorities. It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor.

 

A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation & closing time drag on. When working with any clients, I always find out the “Big 3”: WHY, WHEN, & HOW.  Why are you buying or selling? When would you like to accomplish this? How are you going to accomplish this…for buyers that means, are you paying cash or needing a pre-approval?  For sellers, “HOW” is a question we answer TOGETHER based on your motivation…& often that comes with a 4th question: "WHERE"? As in, where are you going once you sell? Not all sellers occupy the properties we sell for them, so this isn’t always applicable, hence why we focus on the “Big 3”.

In addition to the “Big 3”, it’s always good to know how low you will go, in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously & take into consideration the terms of each offer, sometimes, if you know the bottom line & are strict about it, you can save yourself time. The key is working with an agent you trust that will keep you well above your bottom line by negotiating the best price & best terms for your "Big 3".  

When Considering Offers:

As a seller, when considering offers, keep your MOTIVATION in mind, remembering that you are out to get the BEST PRICE but also the BEST TERMS for you & your motivation.  If you focus solely on the price, you may overlook terms that could be favorable to you as a Seller, especially if you want to close quickly, or want to close with as little hassle as possible.  For instance, if selling AS-IS is mandatory for your life circumstances, a buyer who is willing to take care of the repairs is a great buyer for your property.

 

 Some terms that may work in your favor:

1.  All-cash deal

2.    No Contingencies (no inspection or appraisal)

3.    The buyer will take care of any repairs

4.    The buyer will pay for most or all of the closing costs

5.    Quick close – the buyer is pre-approved , ready to close in a timeframe that best suits you

 

Bottom Line: 

When reading through offers, remember to look at the whole package. For instance, if you receive a cash deal, but it’s significantly lower than a full-price financed offer which cash is king, a well-qualified borrower is a prince for sure! Or, if you have a deadline to sell, then you must be open to making your home the most desirable home on the block, or open to offering incentives and/or lower price than market.

 

Take the time before you list to communicate with Your Favorite Realtor® the real talk about your motivation, & then once those offers start coming in, take the time that you need to assess completely what is being offered & if it meets your needs.  And, always, always make sure your offers come with verification of funds or a fully vetted pre-approval & a reasonable earnest money deposit before you entertain accepting. Your Favorite Realtor® will be able to confirm this for you.  Honestly, I highly recommend not even reviewing offers without proof of funds or a fully vetted pre-approval in place. Remember, we can buy homes without money. So, unless they show you the money, then there’s no need to negotiate.  

Getting the Highest Price in the Shortest Time

$$$ In order to get the highest price in the shortest time, you need to know how to market your home. The better you market your home, the more offers you will get. The more offers you get, the more choices you have to get the price & terms you want!

 

$$$ The most important factor of marketing your home is pricing it right. Your price should be adjusted to reflect the market & your property’s worth. The key is to get as many people as possible checking out your fairly priced property. If your property is not priced fairly, there will be no buyers because your price is set too high.


$$$ Another important factor is the condition of your home. Make sure that your home looks ready to be sold. Fix any defects (peeling or faded paint, cracks, stains, etc.) Condition alone can sometimes prompt fast buying decisions. Not only should you fix any defects, but consider upgrading your home by making major repairs & cosmetic improvements before selling. A nice looking home triggers the emotional response that can lead to a financial response.

Setting the Price with a CMA

The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, & the asking price reflects how serious you are about selling your home.

Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis)

 

The CMA will reflect the following:

>>> Houses in your area  with similar features that were sold within 90 days

 

>>> Asking & selling prices of houses (List Price to Sale Price Ratio)

 

>>> Current inventory of houses on the market

 

>>> Features of each house on the market

 

From the CMA, you will learn the difference between the asking price & selling price for all homes sold, the condition of the market, & other houses comparable to yours.

 

Also, try to find out what types of houses are selling & see if it applies to your area. Buyers follow trends, & these trends can help you set your price. Always be realistic. Understand & set your price to reflect the current market situation..

Finding the Right Agent

Not all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. He/she should know the market & provide information on past sales, current listings, his or her marketing plan, & at least 4 solid testimonials that reflect the level of care & service. In addition, you also want to look for an agent that is honest, assertive, & one that best understands your needs.

Try to go with a local agent. They can better serve your needs because they should be more familiar with the local market conditions, local prices, & what’s hot or not in your community.

For Sale By Owner...Good Idea?

FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. The idea behind FSBO is that by selling your home yourself, you save the approximate 6% that would be the agents’ commission.
 
The  data on that idea in real practice shows us that only about 10% of sellers that decide to do FSBO are successful at it. 
 
The data also shows that  not all of them end up saving themselves money. In fact, studies show that FSBO sellers often end up accepting a 6-12% lower price for their home than they would with an agent.
 

There are of course other issues as well: 
Can you afford to make selling your home your fulltime job? Because for a lot of FSBO sellers, that’s exactly what it is. 
 
Do you have the time and capital to spend on the marketing, advertising, inspections, paperwork, phone calls, showings, & problems that come up when any home is sold?
 

So before you decide to sell your home yourself, thoughtfully consider just how much time & effort you can spare for selling your home, as well as how important it is that your home sell sooner rather than later.

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