|
Ready
to place your home on the market? Do you understand
the process and details of selling a home?
Before you list with an agent, educate yourself
on all the factors that will affect your profit.
Be as informed as possible so you can make
the absolutely best business decisions. After
all, the sale of your home is a business decision!
Most of us are not tuned into the trends and fluctuations
of the real estate market. Likewise we are not
aware of the necessary steps to maximize profits
on the sale of our home. Typically we rely heavily
upon an agent to lead us down the most profitable
path. When considering our home is usually the
most valuable asset we own, doesn't it make sense
to list with someone who will maximize our profits?
But how do we find that agent?
This
report is designed to empower you with critical
information necessary to evaluate an agent's
qualifications and help you identify the
professional top producer. The more meticulous
you become in selecting the right agent the
higher your profits will be!
Start by doing some research. Find out who the most
active agents are in your market. Look at advertising
to see how professional it is. Ask friends
and family. Drive around the neighborhood looking
for yard signs. Then compile a list of agents.
1. The
Phone Interview - Place
a call to each of the agents on your list.
Document how quickly they returned your
call. Remember: they will be returning
calls to your prospective home buyers.
Do an initial 'feel out' interview over
the phone so when you meet you will both
be prepared.
2. Request
a Complete Plan - From
title to escrow, request a complete plan
as to the services they can provide for
you.
3. Evaluate
Their Team - Top
producers will have established relationships
with lenders, title reps, inspectors...
everything. They are there for your benefit
and if they are ill prepared to handle
all the steps, you are being short changed.
4. Detailed
Report of your Property - Request
a complete report of your property with
ideas for improvements, cosmetic changes,
structural repairs or anything that could
add value to your property. Remember a
small investment up front will pay higher
dividends at the time of sale.
5. Alternative
Report - Request
a complete report of alternatives to the
home sale. What would current market leases
generate? Rentals? Responsibilities attached
with leasing? Have your agent educate you
as to all your options.
6. Insist
on Prequalification - Don't
waste valuable time negotiating or showing
your property to unqualified prospects.
Insist your agent prequalifies candidates
to screen out all unwanted prospects.
7. A
Net Sheet - Request
a complete net sheet, minus commissions
and fees, showing your exact proceeds at
the time of sale.
8. A
Marketing Plan - Insist
on a step-by-step marketing plan of how
your property is going to be sold and marketed.
Look for innovative ways to attract home
buyers. Demand 24-hour advertising, lead
accountability and tracking services. These
services exist and you should insist upon
them.
9. Telemarketing
Efforts - Investigate
the agents telemarketing team. Do they
just cold call or do they have a mechanism
to create proactive leads and call on those
prospects?
10. Direct
Mail - Investigate
the agents capacity to send direct mail.
How often do prospects receive mail? Is
it professional? Does the mail piece motivate
prospects to respond?
11. Advertising
- Is
it well written and professional? How many
ad mediums do they utilize? They should
be advertising in at least three; a homes
magazine, community or local newspaper
and yard signs. Remember: the quality of
the advertising will directly influence
how well your home will be perceived.
12. Negotiation
Strategy - Have
a written, well conceived, negotiation
strategy. The old adage, "You don't
get what you deserve, you get what you
negotiate" rings true in real estate.
Insist on a sound negotiation strategy
before you entertain buyers.
13. Closing
Checklist - Be
sure to get a written closing checklist.
You need to know in detail how you will
conclude the sale of your home. This should
provide a step-by-step procedure that will
be easy to understand and follow.
The purpose of this newsletter is to stimulate thought for
our clients and those professionals we network
with. One should consult with a qualified real
estate planning professional prior to implementing
any real estate planning strategies. If
you are an mortgage planning, insurance, trust
or financial planning professional receiving
this newsletter, please call our office and
introduce yourself to us. We are always
seeking to grow our referral network and expose
more service professionals to our client base. |
