If you've ever looked at selling your home, you've probably gotten a glimpse at the listing process. And what you probably very quickly realized is this: there are dozens of steps in the home listing process!
Now there are a lot of those steps that are important. But there are five that I believe are the MOST important.
If you don't nail these five steps of the listing process, you're going to have a really hard time ahead of you.
You might wind up not selling for as much as you could have. You might wind up inadvertently giving buyers an “easy out” of the deal.
Or you might miss out on some great negotiation points.
We don't want that.
We want to set you up for success in your home sale right away, right from the listing process.
Let's look at how to do that.
Step #1: List Price
Without further ado, the very first step is your list price strategy.
Now, there's actually three strategies that we talk to our sellers about as it relates to setting their home's list price. And there are strategic reasons behind each of them.
Because we've got four other steps to cover, I'm not going into detail about the home pricing strategies here, but I am making the “3 Home Pricing Strategies” Quick Reference available for download, for free, below!
==> Download the 3 Home Pricing Strategies Quick Reference
Step #2: Marketing Blitz
There are a couple different marketing blitzes that we do.
One of the most important ones is the “Coming Soon” Marketing Blitz. That's our opportunity to try to get your home sold before we ever even go on the market.
This year, we've done exactly that with almost 50% of the homes we brought to market: They've sold before we even ever put them on the market, or within that first week.
So it's very important to nail the Marketing Blitz, especially the “Coming Soon,” because doing so puts us in an amazing negotiating position with the buyers — it definitely gives us the upper hand.
Step #3: Negotiate the Offers
Yes, plural! Absolutely plural!
One of the things that a lot of agents don't talk about is that sometimes it is NOT in your best interest to keep having the price bid up higher and higher.
I know, that seems counter-intuitive.
But in fact, having the price bid up higher and higher can sometimes be a hindrance for you.
When you're working with a really good agent, they'll know about where your home may appraise. Now, if you just keep having folks bid the price higher and higher, you'll end up not appraising.
And when your home doesn't get the appraisal, that becomes a ticket out of the deal for the buyer.
That can happen long after you think everything is good to go, your boxes are packed, and you're ready to move…
and then the deal falls apart, all because the price was bid up too high for the appraisal.
That's why it is SO important to negotiate the offers.
If you think you're getting close to that appraised value price, or you're really toeing that line, it might be wiser to start negotiating on terms.
Think about maybe waiving things like home inspection, or waiving the appraisal altogether. The goal is to negotiate a contract that is solidly in your favor.
Step #4: Negotiating the Repairs
A lot of times, folks are doing home inspections as part of a home sale.
Now, every once in a while, we get a hot property where we'll get lots of offers in, and we can negotiate the home inspection out altogether. But that isn't usually the case.
The typical case is that a home inspection happens, so you have to be prepared for the buyer to come back afterwards and ask for some repairs.
When they come back and ask for repairs, you've got to have someone on your side that knows what they're doing to make sure you're in a good negotiating position.
For example, we worked on a home sale that happened recently. The buyers had a pretty elaborate amount of money that they wanted in lieu of repairs.
What we did is itemized everything out, item by item and repair by repair, so we could find where the major expense was that really didn't make any sense.
As it turned out, the buyers were wanting $3,000 for a bathtub. That's ridiculous. It all came down to knowing what everything should cost so we could negotiate the repairs and get something fair.
Make sure you take the time to negotiate the repairs, and pay attention to what things cost. The goal is to make sure that you too are getting something fair.
Step #5: Lender Check-Ins
I know this sounds anti-climactic… I mean, lender check-ins?
But believe it or not, it's amazing what you find out when you start checking in with folks and making sure that everything is happening that's supposed to be happening.
Here's another great example. We had clients that were selling their home. We checked in on the buyer's lender, just called and said, “Hey, just wanted to make sure the buyers followed through, that they have applied for the loan, and everything is going well.”
And the lenders said, “Actually, we haven't heard from them”!
So we contacted the buyer's agent. And the buyer's agent didn't have any idea this was happening (because, of course, they weren't doing these lender check-ins either…).
At the end of the day, we wound up saving the deal for our client, all because of doing the lender check-in, and then following up and following through.
It really is that important.
We are giving you our FULL outline of the listing process, free. You can use it to better understand what listing your home involves, or use it as a checklist to make sure everything's getting done as you sell your home.
==> Download the Full Listing Process Checklist
==> Remember to download the 3 Home Pricing Strategies Quick Reference
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