Information for Sellers

Getting the most for your home or property means doing more than putting a "For Sale" sign out front. In a competitive market where new homes for sale are added daily, your listing needs to be seen in a variety of places in order to stand out. And sometimes the right buyer is waiting out of state, or even in another country. To ensure sure your home gets noticed and sells without a hitch for full market value, consider working with a top professional. It could mean the difference between no sale, and the payoff you've been waiting for.

Five Reasons to Sell your home with a REALTOR®

Sell with a custom marketing plan.
Get your home listed and talked about everywhere, not just in the local paper and on your street.
Attract buyers via the Internet.
Have all the paperwork taken care of for you.
Negotiate with the help of a real estate professional.

As your Seller's Agency, we'll quickly put together a custom marketing plan with an effective price. A well-priced home will often generate competing offers and drive up the final sale value. Our market analysis takes into account the most actively searched prices, and home values throughout your area, including expired listings, and properties still on the market. In marketing your home, we also develop a listing that emphasizes its unique and sellable aspects. We then put your home in front of thousands of buyers, establishing it on the local MLS as well as broader ones, new listings sheets, and Realtor publications. Our network of professional real estate contacts and buyers throughout the nation will also have the opportunity to check out your listing. In addition, we'll use the Internet, and this professionally optimized website, to make your listing highly visible. With more than 80 per cent of buyers checking the web first when looking for a home, that's a part of your marketing strategy you can't afford to miss.

Without the help of a Realtor, marketing your home can be time consuming and difficult. Advertising in the media is often expensive, and many buyers are reluctant to consider homes listed "For Sale by Owner."

When we list your home, we do so at no additional cost. When you start to get offers, we can represent you during the emotionally charged negotiating process and ensure you get the best price, with favorable closing terms that are clearly spelled out. As your professional aides, we also and take care of all paperwork related to the sale.

For most of us, our home is our biggest investment. When it's time to sell, get the value you deserve with the help of a professional Realtor. If you'd like to get in touch about your next home sale today, please contact us whenever you'd like.

What to do when it's time to sell.

When the time comes to sell your home, you only get one shot to do it right. There are several steps that are crucial in selling a home for the highest and best price. In order to attract buyers willing ot pay the highest and best price, it begins by saturating every marketing avenue to attract interested buyers. Technology is the foundation to any successful marketing plan. The most imporant step for a homeowner is to hire the right Realtor.

How to choose the right Realtor

In order to best represent a Seller, a Realtor must be multifaceted. They must be expert negotiators, have an in-depth knowledge of contracts, experts in staging, marketing, advertising, photography, internet technology, they must be friendly, outgoing, approachable, and willing to roll up their sleeves and work hard. They also must be creative and willing to think outside the box. The Realtor must also be ethical, experienced, professional, and must be dedicated to looking out for only your best interest.

There is no way to really know if a Realtor has these qualities by looking at them. You have to witness them in action. But, at that point, it may be too late. How does one find an expert? You can ask your friends or your colleagues, but referrals are often hit or miss. Here is a recipe for success;

First, the Realtor must have a strong commitment to continuing education. The market changes daily. The only way a Realtor can stay in tune with the trends and stay relevent and fresh is to continue to educate themselves. In the Real Estate Industry there are industry certifications known as Designations. Less than 1% of Agents have spent the time or money to obtain these Designations. Designations are expensive, time consuming, and the Realtor must pass a test in order to obtain the Designation. An expert Realtor begins with Designations.

A home is the largest purchase most people will make during their lifetimes. When it comes time to sell a home, the overall success of the investment rests in the hands of a Realtor. If you are about to have heart surgery, do you want a doctor that is using ten year old techniques, or do you want a doctor that is using cutting edge technology? The same applies to Real Estate. The sign of an expert is someone that is dedicated to staying current. The Real Estate Industry has only a handful of Industry Designations & Courses. Arguably, the most important of these Designations are ABR, GRI, CRS, Green, and ePro. These Designations set the foundation for success for any Real Estate professional, and I have obtained all of them.

Second, the Agent must be a member of the National Association of Realtors. Once someone passes the local state and national tests to obtain a Real Estate License, they are deemed a Real Estate Salesperson. In order to as a Realtor they must be a member of the National Association of Realtors and attend the Code of Ethics Training. All licensed Real Estate Salespersons are bound to the Real Estate License Act and Real Estate Code of Ethics.

Third, the Realtor should be happy to provide a complete list of references of their prior sales. There is no better measurement of the overall success of a Realtor than talking with their prior clients. You can find out how good they are at staying in communication, how they marketed the home, and how they negotiated the deal. People often fail to ask the Realtor for a list of references. There is nothing wrong with asking for references! I am surprised that less than one percent of my clients ask me for References, so I now give out my references to each client regardless if they ask for it or not.

Fourth, ask the Realtor for their marketing plan. Marketing is the key to getting your home sold. The days where you put a sign in the front yard, put the home in the MLS, and wait for a buyers agent to come along and sell your home for you, is long gone. In today's market, the competition is steep. In fact, in any given moment there are literally thousands of homes on the market, literally six or seven months of inventory. This drives down prices, exasperates sellers, and gives buyers a God complex. Buyers feel as if they are doing the Seller a favor by purchasing their property. Buyers are often asking the seller to drastically come down in price, pay all closing costs, pay for other expenses like residential service contract, title policy, and in some cases asking for Sellers to convey personal property like washer, dyer, refrigerator, and even furniture. I call this the "Kitchen Sink" syndrome. I see it everyday.

This process begins when Sellers begin to get discouraged after weeks or months of little or no showing activity. Finally, when a showing happens and an offer is presented, the Seller is so relieved to get the home sold, they are nearly willing to donate a kidney.

How to Advertise to Attract Buyers.

IMPORTANT: The number of showings a home gets is not a direct representation of the market. It is a direct representation of the marketing! A Realtor will often show their buyer less than twenty homes before the Buyer makes a decision. When there are thousands of homes on the market, how do you ensure that your home is always one that is shown? The general answer is marketing. The specific answer is what I have spent years implementing. It is a five step process.

Proper Pricing (Step 1)

With current market conditions it is critical that a very detailed and accurate value estimation be determined. There are a few ways to derive a value of a home. Cost Approach, Income Approach, and Sales Comparison Approach also referred to as CMA (Comparative Market Analysis). The CMA estimates the value based on comparing the subject property with similar properties that have sold in the area recently. It requires that the properties be adjusted for condition and amenities so that they become comparable to the subject. This is the method most used by agents and brokers.

The agent's opinion of value takes into consideration of values of current competitive properties in the market place. Pricing has to be couched in terms of the asking price of other similar properties because a buyer will also factor in these other values in making a decision to offer to buy a property. No one will ever know a market better than a buyer who has seen all of the properties that match the criteria in a given area at a specific time with the overwhelming internal directive of spending their own money wisely.

Right pricing is both an art and a science. The science will look at facts such as sold comparables, currently listed properties, local market conditions (e.g., layoffs, increased hiring), financing conditions, and fluctuations in interest rates. The art of pricing is more interpretive and will focus on trends, seasonal fluctuations, appraisal and lending environments, target market's and predictions of market swings

Two concepts should also enter into the agent and the seller discussion about list price. The time theory of value says that the time it takes to sell a property is directly proportional to the price. This means that the higher the price, the longer it will take to sell. A seller who, after being shown the comparable property data, insists on overpricing should know that he is affecting the length of time his property will stay on the market before being sold. The pyramid of value says the number of buyers willing to pay a given price is inversely proportion to the price. This means that when the price is low there will be many more buyers willing to buy than when the price is high. So, clearly there are inherent dangers to a seller in over-pricing:

Time on the market is increased
Many buyers will not even consider a price range beyond their means
Listing becomes shop worn, and many agents and buyers become suspicious that something is wrong with the property
Extended time on the market entices lower offers because the seller must be desperate
Property is hard to keep in top condition when the listing goes on and on
Total number of showings will be limited
Sellers who must move risk splitting up the family or maintaining two houses
Other properties will sell faster in comparison depleting the existing buyer supply
- Age: only major differences warrant an adjustment. You can eliminate adjustment for age by choosing properties that were built in an area within a given period of time during the CMA. This presumes that homes built in the area in that period of time were very similar.
- Size: We use the price per square foot that is in the "medium range" for comparison.
- Bedrooms: usually there is not an adjustment for bedroom number unless the number is low and would present a marketing problem. For example, in an area where the target market is young families, a two-bedroom home would need an adjustment. In the duplex market, you can usually adjust 2k to 5k per bedroom. You can also tie the additional bedrooms to additional gross rent in multifamily property.
- Bathrooms: adjust $500 to 1k for a half bath and 1k to 2k for a full bath. In larger custom homes, this adjustment can be as high as 4k depending on the quality of the baths.
- Central heat and central air: adjust between 2k and 7k, depending upon the size of the home and the lack of existing ductwork.
- Garage/carport: adjust 2k to 4k per car on a garage and $500 to 1k on a carport.
- Decks, sprinklers, fences, and landscaping; this is a subjective adjustment based on market recognition of these as desirable amenities. I usually adjust 2k for decks, 1k for sprinklers.
- Site/view: I always try to select properties that have similar view and comparable lots. These can be adjusted in areas where there are new homes, up to the value that an area builder would put on as a lot premium.
- Quality of construction: this is a difficult adjustment., I only adjust here if there is a major difference in design or appeal. There is only one builder in the Austin area that is know for below average quality and do not pull gas lines to the property. I usually deduct 3% for this builder.
- Condition: I adjust on condition with full knowledge of the condition of each of the comparables. I try to eliminate large adjustments and rely more on close comparables. When I assess conditions I choose a rating system and remain consistent with it. A good way of citing condition is to give the subject a "+" and rate comparables as "++:, "--", etc. This allows me to to give the subject property a positive rating and then assess all other properties as it relates to the subject. I do not make major adjustments for condition unless the difference is glaring.
- Location: I make adjustments for location last of all. I try to limit location adjustments by choosing comparables in close proximity. In some neighborhoods certain streets may have more appeal and are adjusted accordingly.

The following are typical market adjustments for the relative value in the market area. Adjustments are made from market data and change with market conditions. Here is an idea of how I adjust for differences;

Commission Technology (Step 2)

This contains some of the most important information you can read about the truth of today’s real estate market. Did you know that 60% of all the homes that enter the real estate marketplace end up as expired listings? Commission Technology is a path to listing your home and selling it quickly and for more than you expected. There is a secret that the top 1% agents use, and I am going to teach this secret to you!

There are three ways to market a home. (1) Market to attract a single offer. (2) Market to attract multiple offers (3) Market to attract no offers. The truth is; most agents market to attract a single offer, this marketing technique is financially beneficial for the agent, but marketing to attract a single offer can often times fail. This is why 60% of all the homes that enter the real estate marketplace end as expired listings.

Many agents simply are not willing to invest the time or resources to market a home to attract multiple offers. Studies show once a buyer has an emotional attachment to a property the price is no longer the biggest factor. If you can attract multiple buyers with an emotional attachment, you can toss out any concessions and actually get more for your listing than advertised. This often only happens by the top 1% of agents, but for the other 99% it usually only occurs in a good market and by accident.

If price is not the primary factor for a buyer with an emotional attachment (and the majority of buyers do have an emotional attachment), why would a Sellers agent ever pitch to have his client drop the listing price? Did you know there is absolutely no evidence that reducing the price of a home has any effect on the propensity for the home to sell? In fact, reducing the price to gain more exposure is completely ineffective. Price reductions are damaging to the seller, damaging to neighborhood comps, damaging to the industry, and does nothing to meet the end goal of procuring a willing, able and ready buyer. Also, price reductions send a message of desperation to the buyer and they often ask for more. This is a text book example of Slippery Slope.

In order to sell your home for more than you expect, you must trigger unprecedented interest in your home. At the point an agent has exhausted his or her advertising methodologies and still not receiving showings, it is common for the agent to pitch for a listing price decrease. In a good market, first year agents can often quickly sell homes and declare success. In a good market, a top producer can make their sellers 10% to 15% over the listing price, sell in half the time with little or no concessions, and in rare cases, get into an auction between passionate buyers. What are top producers doing that average agents are missing?

First, we have to understand who is responsible for selling homes? Realtors? Absolutely! Why do Realtors sell homes? To make money? Absolutely! The next question we have to ask is when your Realtor is advertising your home, who is their audience? Who is your Realtor advertising to? Buyers? No! Other Realtors? Absolutely! It is no secret that the best resource for listing information is the local MLS database. This database is only accessible by Realtors. Your Realtor is actually advertising your home to other Realtors, not buyers. This explains why price reductions do not aide in selling homes. The truth is 99% of buyers do not buy homes, Realtors sell them homes. The difference is paramount. Top producers understand every aspect of this and use this as leverage to sell homes. You have just learned the very essence of the true Real Estate Market.

Let’s for a moment, put this concept under a microscope, and in familiar terms. Let’s use Nordstrom’s as our example. Nordstrom’s hires professional sales people to sell their product. They have the highest caliber customer service. Nordstrom’s understands the unique role of the salesperson. When Nordstrom’s wants to clear out an item, do they discount the item? Reducing the price is not going to make someone that did not want it yesterday want it today. And we understand that buyers do not have access to the MLS. How are they expected to learn that the price even changed? So let’s up the ante: what if there are two identical homes side by side, in the same neighborhood, with the same amenities? Should the agent then reduce the price to match the other? No! Even though it is extremely rare for this to occur, my method, which you’re about to learn, will make the home that is priced more sell first!

So you’re probably wondering how Nordstrom’s does clear out an item. They understand the secret! We learned a moment ago that buyers do not buy homes, Realtors sell them homes. 99% of buyers provide a realtor with a criteria such as area, price range, number of bedrooms, square footage, one story or two, etc.. The agent then goes to the MLS and prints out homes that match their criteria. Now, let’s again remember this fact: 1% of realtors earn 95% of the business. This means that most agents need to close deals and make as much money as possible per transaction because business is scarce for them. Agents tend to show their own listings first, they then show properties with the highest commissions second. Did you just catch that? It is really a very shocking statement! So, let’s repeat it! Agents tend to show their own listings first; they then show properties with the highest commission second! We do, after all, live in a capitalist society! People are in business to make money. Is this an unethical practice? Well, the buyer’s agent represents the buyer only, and the seller pays the commission; so the agent has absolutely no conflict of interest, and has the right to seek as much as possible. Clearly, this puts an entirely different spin on what is going on in real estate. Let’s go back to the example of the two identical homes side by side. One has a lower price; the other has a higher commission. The home with the higher commission and the higher price is going to get many showings, while the home with the lower price and lower commission will get fewer. Why? First of all, there are literally hundreds of homes to choose from in any market, and in this market we have thousands. The agents tend to show no more than 10 to 12 of these homes to a perspective buyer. Agents tend to choose properties that both match their client’s criteria and have the best commission. It is a win-win for the buyer, the seller, and the Agent. However, it is clearly a loose-loose for the listings on the market that are being ignored because their commission is not attractive to the buyer’s Agent. There is an industry specific term for this. It is called the green-filter. Homes that do not offer enough green are simply filtered out. Again, the seller pays the commission, not the buyer! There is absolutely no conflict of interest. Nordstrom’s understands this all to well. When they want to clear out an item they don’t lower the price, the raise the employee commission on those items! There are few absolutes, but in the world of sales, making money is the primary goal.

So, why don’t more agents get their sellers to raise their commission? The answer is fear. And the top 1% of agents are grateful. If everyone raised the commission, this Unique Value Proposition would no longer be effective. The agents that are not part of the 1% are often in great need of business. Where there is great need, there is often fear. Remember back in the interview process, when you were hiring your Realtor? Would you have hired your Realtor if they had suggested an 8% listing instead of a 6% listing without a profound explanation? Probably not! Most sellers are much more willing to decrease price than increase commission. Why? Because the seller thinks decreasing the price will get more exposure while increasing the commission will have no effect. Most realtors are not taught about the secret, which I like to call “Commission Technology”. But the Agents that do know about it find that it is really a very complex and emotional process getting a seller to understand the value of raising the commission, and few Realtors are up to the task. In fact, 99% of agents are afraid to even talk about commission. Usually a conversation about raising a commission creates immediate and passionate objections from the seller. Before the agent can offer the profound explanation, they have already lost the business. Fearful agents understand this is the typical response, and during the listing presentation, avoid anything that could stimulate a negative response.

As evidence of the power of Commission Technology, let’s take a quick look at new home builders. New home builders often pay a full 6% commission to the buyer’s agent, twice as much as the typical resale home. They often offer an additional $5,000 selling bonus on top of the 6%! Builders do their homework. They also know their target audience is agents not buyers! And they reward the agents well for bringing in buyers. Reducing commissions does not save sellers money, it hinders homes from selling, and it dramatically increases the costs for the seller over the term of the listing. Reducing the price does not attract buyers, it dramatically decreases the seller’s profits, and it does nothing to find an able, willing and ready buyer.

Advertising / Awareness (Step 3)

I take my job as a Realtor seriously. Saturating the market with advertising of your listing is key to gaining the type of exposure to attract multiple offers. This is my marking program for each of my listings;

Internet

The Austin MLS system exports listing information to other sites, such as Realtor.com, Trulia, AustinHomeSearch.com, and over a dozen more. This is just the start. Websites such as Agents private websites, brokerage websites, zillow, craigs list, yahoo, google, ask jeves, msn, are also website that are vastly growing in popularity for home owners. Simply publishing the listing to these websites is not enough. There is maintenance and upkeep. The listings often expire from these websites. I make sure that I review each listing for each site on a weekly basis. I update with new photos, add new descriptions to keep the information fresh and unique.

Just-listed cards

These are usually sent within the first few days to properties near the listing. The idea is that others who live in the area might expose the property to those they know who might be looking in the area. Also as families age, then tend to move closer. This is a very affect and often overlooked method of advertising the listing. Another way I expose the listing is to send these cards to areas where move-up buyers also may live.

Direct mail

Throughout the term of the listing, I send other direct-mail pieces to areas where potential buyers might reside. Nearby apartments are often my favorite source of potential buyers.

Realtor Open House

Realtors tend to show homes that they know and that they have seen before. An Open House for Realtors exposes the property to agents who might have clients in the area. I invite other area listing agent to put up their listings at the same time and often ask title companies or lenders to donate gift cards and snacks.

Neighborhood Open House Sneak Preview

A Public open house sneak preview is seldom done and is extremely effective. I send out a letter to the neighborhood letting them know of a special neighborhood open house. This is not for the general public. It is only for the neighborhood. We typically have wine, cheese, and crackers. The neighbors tend to really enjoy this because they really seldom get a chance to visit and at the same time the experience really impresses them and they tend to tell everyone they know about the home.

Highlight Brochures

I prepare a marketing sheet to highlight the property, and place copies in a brochure box for potential buyers who drive by the property. The flyers are two sided glossy color on heavy stock paper. I make sure the flyer box stays full.

Brokerage Property Magazines

My company publishes a monthly list of our listings and I always make sure my listings make it into the magazine.

Home Magazines

I often will ask my Seller if they would like to pay for a listing in a local Austin area magazine. I pay for all of the advertising for the home out of my commission in exception of Magazine Ads. These usually run around a hundred dollars and pack a big impact.

Text Messaging Listing Information

This is new technology that we are using at Sky. We have a sign at the property that says "Text SKY to 88000". It them replies via text message all of the information about that property to the interested buyer. We are able to capture the phone number and we later follow-up.

Illuminated Yard Sign

The appearance of the property is part of the marking strategy behind the yard sign. The curb appeal is a very important aspect in preparing the home for market. I include in my Yard Signs a Solar Light. The Solar Light illumiates both sides of the sign with crisp LED light. This gives your sign round the clock exposure.

MLS

This is where you want to put your best foot forward. I have found that how the property is entered into the MLS is extremely important to gaining showings.. I include as much information as I can, I add quality pictures, use MLS remakes to create excitement, and I add attachments like a property brochure, seller disclosure, property survey, repair receipts, roof certifications, foundation information, I have found the more information you include, the better response.

Radio and TV

Sometimes Realtors will join together and pay for a 30 second local commercial with information about their listings. These usually cost around $400 dollars. If you split the commercial across five people it costs around $80. This is truly a great deal for the exposure.

Virtual Tours

Virtual Tours are around the clock advertising and over a medium of your complete control. It allow you to show the home in the method you desire, typically the rules of showing are "up before down", "small before big", and "living before dining". Essentially, there is a methodology on how you show a home to impress a buyer. If you show the the largest room first, the rest of the rooms seem smaller. So, if you follow the rules, your buyers will have the best impression of the home. A virtual tour allows you to show the home in the right way, in the best light, in the cleanest state, with subtle music, and if done properly should impress anyone who watches it.

Email Marketing

Realtors are quick to give you their business card. They give their card to anyone that comes within 20 feet. This is a practice we have been taught and is second nature. Most Realtors turn right around and throw these cards away. I add them to my contact list and I send out my listings to each of these Realtors as soon as I list the home in the MLS. I have over twelve thousand area Realtors and Industry Professionals that get my emails.

Preparing the home for Market (Step 4)

In preparing your home for market, the idea is to spend as less money as possible. With a limited budge there is a lot that a Seller can do to get the most bang for their buck. Get the house ready from Realtor.com. Preparing the home for Market is where I usually get the most Seller objections. Most Sellers either do not have the budget or the desire to spend their money preparing the home to sell.

Staging

You know you should clean everything and get rid of clutter. But aside from that, how do you broaden the appeal of your house?

Walk through the house and prioritize things that, if changed, would increase the value of your home. For example, repainting a child’s bubble-gum pink bedroom may attract more buyers than something not as apparent, such as replacing an old dishwasher.
You can direct a potential buyer’s eye away from something negative or toward something positive. Use artwork or a room’s own features, such as a fireplace, to capture a buyer’s attention. However, there’s a fine line. You want buyers to be able to appreciate the room and not just focus on the items in the room.
Remove any furniture that tightens spaces. If a couch or chair makes you turn your body as you walk by or just makes a passage look small, get rid of it. Everybody wants more space.
Rid the house of personal effects, and don’t forget simple things like magnets on the refrigerator. Small distractions to the buyers’ eyes will disturb their thinking, preventing them from picturing the house as theirs. And while you want the rooms to look well-decorated and spacious, avoid turning the house into a perfect home. Try to balance the brand-new look with some of its lived-in warmth.
Potential buyers often feel uncomfortable in bedrooms and bathrooms because they are, by definition, personal and private places. To counter this reaction, make bedrooms and bathrooms look like a model home (toss the lived-in feel out the bathroom window). Clear off all surfaces of the bathroom—remove even simple things like toothpaste and soap. Put out nice, fresh towels instead. The goal is to make these rooms comfortable for buyers. When they’re comfortable, they’ll linger and picture themselves in the house.
Consider hiring a professional to improve your home’s visual appeal. The fee charged by a “stager” can be worth it if the changes bring a quicker offer or a higher sales price. I have a list of several very talented and professional stagers.

Curb Appeal

The right landscape design can make all the difference to a prospective buyer, especially when it’s beautifully and carefully executed. In fact, REALTORS® and landscape professionals estimate that a well-landscaped yard can add 5% to 15% to the selling value of a house. Houses that look good from the road carry higher price tags—a fact that turns landscape investments into money in the bank when selling a house. Here are a few ideas on how to improve your landscape:

Trees

One of the best investments you can make is a glorious stand of healthy trees as part of a well-landscaped yard. REALTORS® across Texas and the rest of the country know that healthy trees can increase the property value of a home, as well as provide years of aesthetic benefits to owners. Trees also cut down on energy costs. When Kiplinger published the 25 best ways to invest $1,000, buying a big tree was at the top of the list. If your selling timetable doesn’t allow for planting and nurturing a tree to maturity, remember this advice for your next house.

Since a tree is a long-term investment, it’s important to start with a high-quality plant. In the case of trees, money definitely buys quality. Trees that are 8 to 10 feet tall—either balled and wrapped in burlap or established and growing in containers—are usually the best buy.

Homeowners can expect to pay anywhere from $200 to $1,000 for a quality tree.

Plants

Add a few plants around the foundation of the house and in “curb appeal” areas such as near the front door. Or, consider using more permanent bushes, especially those that flower in the summer and have colorful buds in the winter.

Gardeners on a budget can buy a few plants, then, add more as your budget allows.

For an especially inexpensive jolt for your yard, flowers are a homeowner’s best friend. Bright splashes of color add visual appeal, though they’re usually temporary. For this reason, they’re great if you suddenly need to put your house on the market and need a quick landscaping fix. At that point, it’s best to stick to the basics, leaving more costly and permanent landscaping to the new owners.

Gutters should be cleaned, screens replaced if torn or missing, doors should always be repainted, and all the windows should be washed inside and out. Lawns should be mowed and edged, flowerbeds should have fresh wood chips thrown down, and regardless of the season, the front and back yards should be watered at least three times per week Have the chimney inspected and cleaned. Keep your garage door closed, and re-seal any cracks in the asphalt.

Back Yard

If you have a playscape and you are not going to have it covey to the new owners then you should remove it prior to listing your home. Lawns should be mowed, trimmed, and weeded. Prune back trees and clean flowerbeds. Replace any missing or damaged boards in fencing, clean any cement patios, and remove any kids toys and other items that you may have put back there. The backyard is a very important area to buyers and this area should be clean and inviting.

HVAC Filters

HVAC filters should be replaced and the metal screens dusted. I also suggest putting some dryer sheets between the filter and the screen to help give your home a clean scent.

Paint

If you are not a professional painter then this is something that you should not tackle on your own. Painting is something that requires skill and experience. If your intent is to increase the value of your home by painting, it must be done right. This means the wall light plates must be removed, crown molding and base boards have to have straight clean paint lines, and windows and light fixtures should never have paint on them!

Paint should always be neutral colors. Many homeowners paint their homes and when it is time to sell they do not want to return the walls to a natural color. Studies show that homes sell better when the walls are neutral. People like to put their own flair on a home and it is easier to do this with neutral paint.

Clean

I know from experience that cluttered, messy, slightly shabby houses are very tough to sell. Signs of neglect send a message that the house might not be in stellar condition, and will scare off prospective buyers who can't see beyond the clutter and pile of dishes.

Put half your house in storage! People love to shop, and people love to collect things. That translates to piles of junk cluttered up in closets, cabinets, furniture jammed in every corner, toys lining the floor, and shelves stuffed to the gills with stuff. Simplify your life while the house is on the market, and put half of your stuff in storage. Clear out the closets, pack up the books pack up the seasonal clothes, and move out as much furniture as you possible can.

Getting the non essentials out of your house will make what's left so much easier to clean and will make your home seem much bigger than it really is. A prospective buyer will ohh and aah at spacious garages, large closets, and storage.

Living in a home that is on the market for sale is never fun. The home must be clean, and stay clean thought-out the entire listing. Have the carpets cleaned. Get in the habit of getting up an hour earlier than usual to give yourself time to make the beds and clear out all the dishes. After meals you should open the door and air out the home, then spay with standard Lysol, then light a scented candle. People are very sensitive to smells. If the home smells like food, it is a major turn-off for buyers.

Make sure the bathroom has nothing on the counters. Put toothpaste, toothbrushes, combs, even hand soap into drawers. Keep the sink clean, the mirror clean, and the only thing that should be on the counter is perhaps a plant, and fresh towels.

Relationship Building (Step 5)

Building Relationships with other Realtors has been one of the biggest factors in me successfully selling my listings. Realtors are very social people. They are self employed and generally do not get many "pats on the back" so to speak. They like to make people happy, but they are used to getting a tremendous amount of rejection and when they can sell a friend's listing they usually get very exited because they know they are going to get some much needed recognition. Making friends, and making sure each of them knows each of my listing, and praising them when they show my listings makes them come back again and again. Most Realtor don't think to advertise to their colleagues, they assume they are already aware of their listings.

Residential Service Contract

Home warranty companies provide warranty policies to existing home owners, new home buyers, home sellers, real estate agents and title companies to protect the purchaser from unexpected home appliance repairs.

In Texas, a home warranty is also called a residential service contract because repairs are made only when appliances and systems break. When parts cannot be found to repair your equipment, you may receive cash to purchase a replacement or a replacement may be installed, compared to a traditional warranty service, which automatically replaces equipment when it fails. Irreparable equipment is not always replaced.

Home Seller Benefits:

You do not have to pay for the contract until the house has sold
A home warranty gives you the opportunity to compete with a brand new house next door. The Buyer is assured that systems and appliances are covered for the first year of ownership.
Percentage of homes offered for sale with residential service contracts sell 60% faster.
96% of homes offered with residential service contracts receive a higher selling price.
Additional signage to advertise the home warranty can be added to the FOR SALE sign, so a potential buyer knows that the coverage is being provided.
FREE SELLERS COVERAGE: If you have signed a listing agreement with a Realtor, you may order service through Nations Home Warranty during the listing period. You will only be responsible for the co-pay and any additional fees itemized in the Limitations of Liability. Please read items 59 through 71 in the application.

Home Buyer Benefits:

In Texas, the Buyer gets to choose the home warranty company when the loan closes. INSIST on using YOUR CHOICE, when you get the chance to choose, so you know you’re getting the best home warranty coverage in Texas.
Most Sellers pay for a residential service contract (home warranty). Ask your Realtor® to negotiate this for you! (Jack Stapleton always does)
When you purchase a pre-owned home and a residential service contract through Nations, you will have Nations' "Peace of Mind" service. You’ll know that all of your home’s systems and appliances will be covered for the first year of ownership.
Nations Residential Service is a locally owned and operated home warranty company in Dallas, Texas. We are Texans serving Texans and we are neighbors you can count on.
Your residential service agreement (home warranty) is renewable every year with all coverage extended in the renewal period. We also extend coverage of Termites and household pests. Most home warranty companies do not continue this coverage in the renewal period.
You do not have to be in a real estate transaction to purchase a home warranty (residential service contract). Nations Home Warranty has contracts available on a monthly or yearly basis, which may be purchased for yourself, your children, or your parents.

Expected Cost of Service without a Home Warranty (Residential Service Contract)

Subterranean Termites $350 - $1500
Trash Compactor $60 - $600
Plumbing $60 - $2000
Ducted Electrical Air Conditioning $60 - $3500
Water Heater $60 - $475
Heating $60 - $2500
Electrical System $70 - $1400
Pool/Spa Equipment $60 - $700
Dishwasher $60 - $600
Clothes Washer/Dryer $60 - $700
Garbage Disposal $60 - $200
Refrigerator $60 - $1600
Built-in Microwave $60 - $600
Lawn Sprinkler System $60 - $600
Oven/Range/Vent-A-Hood $60 - $1500
Garage Door Opener $60 - $300

For what properties can I purchase a Home Warranty? You may purchase a home warranty (residential service contract) for the following pre-owned properties:

Home
Condo
Rental Property
Manufactured Home

How does a Residential Service Contract work?

The home warranty works hand in hand with your standard Homeowners Insurance that is required on every piece of property where there is a mortgage. Here are a few examples of how they work together:

If your hot water heater EXPLODES and ruins drywall, carpet or tile, your insurance company will pay for the repairs to the home but they will not fix your water heater.

If your dishwasher LEAKS, your insurance company will pay for the repairs to the home, but they will not fix your dishwasher.

If your air conditioning unit LEAKS and ruins drywall, carpet or tile, your insurance company will pay for the repairs to the home but they will not fix your air conditioning unit.

A residential service contract saves time, money and hassle because most people don’t budget for unexpected home repairs. The systems and appliances in the examples above are covered by the residential service contract (home warranty). Also, most people do not know a trustworthy contractor in every discipline required to all the repairs needed around the home.

Who regulates these Home Warranty Companies in Texas?

In order to be licensed in the state of Texas, each residential service company must post an irrevocable bond when starting business. The company is regularly monitored and governed. The Texas Real Estate Commission verifies all track records, marketing material, finances and financial reserves. They require that all companies retain one-half of the gross premiums in an escrow reserve account. That money is pledged to the state of Texas in case of insolvency or loss of licensing privilege.

Texas Home Warranty Companies

Allied Warranty, LP P.O. Box 540487 Houston, TX 77254 CONTACT: Rob Thompson (866) 791-1200 or (713) 664-0200

American Home Shield of Texas, Inc. 889 Ridge Lake Boulevard Memphis, TN 38120 CONTACT: David J. Crawford, President (800) 776-4663 or (901) 537-8000

Fidelity National Home Warranty Company 1850 Gateway Boulevard #400 Concord, CA 94520 CONTACT: Billy D. Jensen, President (800) 862-6837

First American Home Buyers Protection Corporation P.O. Box 10180 Van Nuys, CA 91410-0180 CONTACT: Martin T. Wool, President (800) 444-9030 or (800) 553-6699 x 6256

Home Warranty of America, Inc. 1371 Abbott Court, Suite A Buffalo Grove, IL 60089 CONTACT: Marc Roth, President (888) 492-7359

HomeSure of America, Inc. P.O. Box 551540 Ft. Lauderdale, FL 33355-1540 CONTACT: Sandra C. Finn, President (800) 327-9787

Nations Residential Service, Inc. 2649 Tarna Drive Dallas, TX 75225 CONTACT: Sharon Harrison, President (214) 522-6464

Old Republic Home Protection Company, Inc. P.O. Box 5017 San Ramon, CA 94583 CONTACT: Maria Silva (800) 445-6999 x 1166

One Guard Texas, LLC 510 Gene Autry Lane Murphy, TX 75094 CONTACT: Tom Westhora (888) 896-0014

Southwest Warranty Corporation 10455 North Central Expressway #109-169 Dallas, TX 75231 CONTACT: Earl Bryant (972) 238-8415

Option Period

What is an option period?

This is a time frame that allows a buyer to determine whether or not he or she would like to purchase the property he has written a contract on without the fear of losing his earnest money deposit.

Let's say that you are purchasing a property for $200,000, but you know nothing about the house...if there are any leaky plumbing problems, foundation problems, etc. You are pretty sure you want the house, but if there is something wrong that can't be fixed you don't want to be obligated to go through with the purchase.

This is the time that will allow you to decide.

How long does it last and what can you do during this time? During this time, you will be able to have a home inspection completed, termite inspection and any other type of inspection you feel necessary completed. You will be able to find out if any major repairs need to be made to the property and negotiate those repairs with the seller.

If something comes up that you deem unacceptable to purchasing the property, you have the option to cancel your contract with the seller. If you and the seller decide to negotiate on any terms regarding the repairs or problems that may be present, this is the time to do this. Make sure you are getting everything in writing prior to the deadline of the option period.

If you do cancel your contract during this time, you will be refunded your earnest money deposit in full.

Is the option fee refundable and how much is it? The option fee is non-refundable and is paid to the seller. This is an incentive for the seller to accept your contract and take the home off of active sale status. The home will show as an active option when another sales agent is looking in the MLS. This will tell other real estate agents that there is a contract on the property, but that the contract is contingent upon the buyer exercising his or her option period.

There is not a set amount for an option fee. I have seen them for $25 and $50. But, it is usually a small amount to hold the property for the buyer while he or she makes a decision on whether to purchase or not. Remember that this is non-refundable, so if you decide to cancel the contract you will not get this money back, but you will be entitled to receive your earnest money deposit back in full.

Is there a deadline with an option period? Yes. The option fee is normally paid within a two day period to the seller unless otherwise stated in the contract. You also have the deadline of the option period itself. This can be 7 days, 10 days or whatever has been specified on the contract. Make sure that you and your agent pay close attention to these deadlines. Not exercising them during the specified times can make this option void. Then you will be obligated to go through with your contract no matter what you find out about the property.

Do I have to utilize the option period? No. The option period is strictly voluntary. I believe that an option period is very important if you know little or nothing about the property you wish to buy. Again, it gives you the flexibility of walking away from the transaction if you feel it necessary without losing your earnest money deposit. This is the perfect time to get all of your inspections completed, find out things about the house and generally determine if the property is right for you.

Option periods are a good time to make the important decisions regarding the property you wish to buy. It secures your ability to receive your earnest money deposit back, if you decide that you are unable to or no longer wish to purchase the home. If your real estate agent does not talk to you about it when you are writing your offer to the seller, ask him or her about it. You don't want to risk losing your earnest money deposit because a home inspection comes back with major problems. You want to be able to walk away if absolutely necessary and take your earnest money deposit with you.

My Promise and Practice

Whether you are thinking about selling your first home or your seventh home, as a trained real estate professional, I can help you earn more money in less time on your sale. Now that I have explained so many things in great detail, the following should really ring true;

I work hard to understand the unique selling points of your home and neighborhood, and can provide you with the expertise you need to sell your property. Properly preparing your home for the market is essential to net the most for your home. Only a seasoned professional can properly advise you of what it will take for your unique home to be ready to list. This is after an in person walk through of your home, previewing the competition, and understanding the ultimate goals of the client. It is also important to understand that a quick sale and ensuring you net the most for your sale are often competing goals. In this industry, your goal must be either; time OR money. In some cases, family emergencies, changes of financial income, and even work relocations can make the speed of the sale more important than the absolute highest price. The longer your home stays on the market, the more fees you incur such as property taxes, mortgage payments, utility payments, gardeners, etc. Pricing your home properly will save you money in the end.

Once you home is ready to market, as with any product, proper marketing is essential. I pride myself in being one of the best marketing agents in the industry. I am able to provide my clients with cutting edge marketing technology including virtual tours, internet advertising, full color professional flyers, holding weekly open houses, agent tours, property tours, neighborhood sneak preview, professional photos, staging, and saturating the market with advertisements of your listing.

Finding the Realtor that will best represent you in crucial. If you hire me to represent you, I will will keep in constant contact, promote your home in all possible marketing avenues, and get your home sold quickly and efficiently sell your Austin area Real Estate.

It is important to understand that the job of a Realtor is much more than providing forms to sign, and placing a sign in your front yard. An experienced Realtor understands the market, the area, and takes time to understand the unique features of your home. Once all of the information is in place, the Agent must then heavily market your product. The more exposure that your listing has, the more potential buyers you will be marketing to. A Realtor has to be an excellent communicator, contract negotiator, and most importantly Advertising Agent.

During your listing presentation, these should be your key questions;

Will you advertise my home in the newspaper, magazines, and industry websites?
Will you be on vacation at any point during my listing?
How fast do you return phone calls? How late do you work? Do you work on weekends?
Do you have an assistant?
How often will you host open houses? Do you advertise on Craig's list?
Will you put my home on the Agent Tour?
How many digital photos will you post of my property?
Based on our discussed sales price, what are the closed sales in my area that support it?
Will you post flyers in your office, do you have an email list of agents that you advertise to?
What are your fees?
What will happen if we under or over price, what point should discuss a price modification?

Seven most Common Mistakes Sellers Make

The Wrong Price

A surefire way to get less than the fair market value for your home is to overprice it in the beginning. It sounds contradictory, but it is true. There are several reasons for this. First, if your home is more expensive than the similar homes in the neighborhood, fewer buyers will choose to even look at it. Why would they waste their time? And the buyers that do decide to look at your home will likely use it for comparison, to justify their decision to purchase a different home. “See? A similar home but a lot more expensive. We should get the one we saw yesterday – it’s a bargain compared to this one.” Second, the longer your home remains unsold, the less interest it will generate among the buyers. Eventually, when it’s been on the market longer than the other similar homes, buyers will start to think that there is something wrong with it. And then you are faced with the real possibility of being forced to sell it for less than its real value. So make sure that your home is priced correctly from the beginning. This will save you time, aggravation, and money.

Overpricing is not the only pitfall that sellers fall into, some even under-price their homes. How do you know your home’s real value? By getting a professional Comparative Market Analysis (CMA). A CMA will show you what similar homes in your area are selling for, and how long it takes to sell them. You will be able to see the range of values that your home falls into, and then determine an accurate asking price. I offer CMAs for the homeowners in our area free of charge. Just give me a call or send me an e-mail, and I will prepare one for you at no cost and no obligation.

Mistaking Lookers For Buyers

Mistaking lookers for buyers is an error commonly made by those homeowners who try to sell their home themselves without a Realtor’s help. For-Sale-by- Owners (FSBO’s) actually do get more activity than homes listed by Realtors. This is mostly because a FSBO is often ready to show his home to anyone who expresses interest in it. And many times the unsuspecting seller will entertain offers from “buyers” who are not even qualified to purchase the home. But a good Realtor will only show your home to qualified buyers. And those are the people that are willing, able and ready to make the purchase. A qualified buyer is actively looking to purchase a home, has the down payment money ready, and most importantly has already been preapproved for the loan by their lender. When considering an offer from someone it is imperative that you verify that your buyer is indeed willing, able and ready to make the purchase. This will involve confirming with the lender your buyer’s approval status, making sure that the buyer’s employment, credit history and down payment money have all been confirmed by the lender. A good Realtor can certainly help you with this.

Failing to Prepare The Home For Sale

Who will be your toughest competition when you put your home on the market? Very likely – the new construction. The new homes are clean, bright, uncluttered and, well, new. Your potential buyers have probably visited at least one new homes site, and their expectations are now higher. Make sure your home is also clean, neat, uncluttered, and bright. If there are any cosmetic blemishes, repair them. A new coat of paint does wonders for many homes. A clean, well-groomed yard is a must. Same goes for a clean, uncluttered garage. Anything that you can reasonably do to make your home look as new as possible is worth doing. A new-looking home will attract more buyers and will sell faster for top dollar.

Knowing how to properly stage your home for sale is of utmost importance if you want to get the highest price. But noticing all the important details about your own home can sometimes be difficult. It helps to have a neutral third party take a look and suggest any needed aesthetic changes. That is why, as a free service to the homeowners in our area, I offer a free consultation on how to prepare your home for buyers. Simply give me a call or send me an e-mail and I will be glad to take a look at your home and make the necessary recommendations. There is no cost or obligation for this service, and there is never any sales pressure.

Not Taking The First Offer Seriously

Sometimes it takes a little time to get that first offer, and sometimes it happens quickly. And when it happens quickly, some sellers don’t take it seriously. They think that it is just the first one of many offers to come. Perhaps another buyer will come soon after and offer more? Perhaps there will be many offers to choose from? While that may occasionally be the case, more often than not that first offer turns out to be the best one. Any experienced real estate agent will tell you that the best chance of getting a high price for a home is when the home is new on the market. As time goes by, the initial interest of buyers wears off, and the home attracts less and less activity. Inevitably, the longer a home remains unsold, the less buyers are willing to pay for it. Many sellers who declined an early offer, hoping that a better one would follow soon, ended up selling their home for less than that first offer. And needless to say, they regretted it.

Not Knowing Your Rights And Obligations

It should go without saying that selling a home is a complex process. The sales contract itself contains many clauses that you have to watch for, and many areas that can create a problem if everything is not done right. When will the property inspection occur, what happens after it, when will the appraisal and survey be completed, when is the final loan approval due, etc. Then there are the required disclosures. If your home was built prior to 1978 you have to inform the buyer in writing that it may contain lead-based paint, and you also have to provide the buyer with the EPA safety booklet about lead. And what about radon gas? Any prior damage to home? Any defects that you might or might not be aware of? A good Realtor, other than finding a buyer for your home, also acts as your guide through the maze of laws and regulations, and becomes indispensable in this part of the sales process. Your agent will be able to help you with all the paperwork, and explain all the steps involved in the process. Making sure that everything is done right and that you have fulfilled your obligations under the law is a must if you want to avoid headaches, unexpected costs, and legal trouble.

Limiting The Home’s Exposure

This mistake is often made by for-sale-by-owners and inexperienced real estate agents. Quick: what are the two best ways to market your home? If you answered newspaper ads and the open houses, you guessed wrong. But don’t despair, most people think that. The truth is that the newspaper ads are pretty ineffective at attracting qualified buyers, and the open houses invite more lookers than buyers. Any seasoned Realtor will tell you that there is actually no one best way to attract qualified buyers. Instead, an experienced agent will cast a wide net utilizing several marketing strategies. One of those strategies is listing the home in the Multiple Listing Service (MLS). This is the database of all homes offered for sale by all Realtors in the area, and is accessible only to Realtors. The agents with qualified buyers look through the MLS first to find a home for their clients. Advertising on the Internet is another effective way to give your home a wide exposure, since more and more buyers these days start their search there. And a good Realtor will also utilize brochures, flyers, newsletters, and network with other agents to find the buyer for your home. The important thing is to not rely on only one or two ways to market your home, but instead to give it a wide exposure through many different advertising channels.

Choosing The Wrong Realtor

It’s a funny thing that in the real estate business a successful and experienced agent costs about the same as a part-timer with only a few transactions under his belt. And when it comes to selling your home, probably the most expensive thing you own, what kind of an agent do you want? Someone who knows how to attract qualified buyers. Someone who knows how to negotiate to get you the best price. Someone knowledgeable, who can guide you through the complexities of contracts and paperwork. Someone who will care about your transaction as his or her own. To find such an agent you may decide to interview several Realtors and quiz them a little bit. Is the agent a part-timer or committed to the real estate business full time? What kind of a track record does he or she have? Has the agent been committed to his or her professional development by earning any professional designations, such as GRI (Graduate, Realtor Institute)? Can the agent provide you with references from happy past clients? Does the agent have a specific marketing plan on how to sell your home quickly and for top dollar? And there are a couple of questions you have to answer yourself: Do I feel comfortable working with this agent? Is this someone that will care about my transaction as if it were his or her own? Take the time to learn more about the agent you are considering. Since you are the one paying the commission, make sure that the Realtor you choose is the right one for you.

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