The Selling Process

Step 1. Deciding to Sell

There are many reasons why one may decide to sell and at Landmark Realtors we have seen them all. Whether you're deciding to sell out of preference or necessity, it is important to not only understand what your home is worth, but also understand what is going on in the housing market. The best way to obtain this information is by speaking with your local Landmark Agent.

Step 2. Finding an Agent

It is a good idea to interview more than one real estate agent. Potential interviewees may range from your previous agent, the local neighborhood expert, referrals from someone you trust or an Agent you may have found through the internet. Sellers should always prepare a list of questions in advance of an interview. Questions such as, "What are your plans for Marketing my property?" or "Do you have any references?" are commonly asked. A Landmark agent is prepared to answer any of your questions and is capable of providing a detailed analysis of your home’s worth and how it should perform in its market.

Step 3. Price

Always consult your agent for their opinion on list price; but remember, you are the decision maker. When determining a list price, it is important to look at comparable sales in your immediate neighborhood. It is also important to look at active listings, this will give you an indication of where the market is going and whether the recent sales are higher or lower than where you should price your home.

Step 4. Signing a Listing Agreement

The listing agreement is a contract between you and the agent’s broker. The listing agreement will specify the duration of the listing term, the listing price, commissions to be paid, duties of the parties, etc. The most common listing agreement is the exclusive right to sell listing agreement which means that regardless who sells the property, the brokerage still earns a commission if sold during the listing period.

Step 5. Preparing the Home for Sale

Your personal budget, your agent’s suggestions, and market conditions, will determine how much or how little you do in preparation for marketing your property. The following are common suggestions to help increase the value and desirability of your property: (1) fresh paint; (2) new or professionally cleaned carpet; (3) professional cleaning of interior; (4) removal of clutter; (5) cleaning up the yard and planting flowers; and (6) possibly some light rehab. Your agent can provide a list of trusted vendors to help you prepare. Once the property is ready, your Landmark Agent will have a professional photographer take photos of the property for marketing and brochures.

Step 6. Active on the Market

Once your property is ready for sale, your Landmark Agent will begin adding your property to the Market place. (1)Add property to the MLS(Multiple Listing Service) This is a Real Estate Market Place exclusively for active Realtors. (2)Creating your property website.(3)Brochures inside the property.(4) Schedule Broker Preview and Open House(at Seller's Request)

Step 7. Offers, Negotiations and Purchase Agreement

Receiving and choosing an offer can be a complex part of selling your property. Landmark Agents are continually trained to negotiate the best price and walk you through all of the potential pitfalls and show you the pros and cons of each offer, such as financing type, down payment, deposit, escrow period, possession, etc..

Step 8. Escrow

During the escrow period, the buyer will have a contingency period to conduct investigations, secure financing, and request any repairs they feel are necesary. Once the buyer is satisfied by their investigations, secured financing and come to an agreement with the seller regarding repairs, they will remove all the contingencies in writing and proceed to close. There will be a copious amount of paperwork to fill out during the escrow period, and possibly more negotiation with the buyer before they are committed to purchasing, so it is crucial that your agent is very competent to guide you through this process.

Step 9. Closing and Possession

Once the parties have fulfilled their obligations to each other, the escrow holder will record the deed (or other evidence of title) and disperse the funds to the parties. At this point the seller will typically hand over all keys and openers to the new property owner. Your home is now sold, Congratulations!