Sell Your Home with Reed the Realtor®

Seller's Guide

Whether this is your first time selling a home or a familiar process you've been through many times, things are constantly changing and there are a myriad of potential complexities that make every transaction unique. This guide is designed as a high level overview of the process to let you know where you are and what comes next.

Step 1 - Choose Your Listing Agent

Ask yourself this important question. "Do you believe that who you choose as your listing agent will affect the ultimate success of your home sale?"

I argue that it definitely matters and could mean the difference between a transaction you feel great about versus a lasting case of seller's remorse. So, how should you approach this important decision?

The conventional advice is to interview at least (3) candidates. Ask a lot of questions. How long have you been selling real estate? How many transactions have you conducted? Have you recently sold a property like mine? And one of the best questions to pose is, "How will you market my home?"

Finally, choose someone that you trust. You'll sleep better and suffer a lot less stress if you have a real expert at your side to handle any contingency.

Step 2 - Define Your Needs & Goals

It may sound obvious, but taking some time to reflect on why you are selling can be extremely valuable. Are you upgrading to a nicer, larger home that better suits your lifestyle? Are you downsizing to simplify your life and focus on enjoying retirement? Will the proceeds of your sale fund some other pursuit like travel or an investment?

Other concerns you should identify during this reflection include:

Timeline - When do you need the sale to be complete? Are your plans contingent on closing by a particular date?
Level of Effort - What are you willing to do to maximize the final sales price? Would you consider remodeling the kitchen, addressing deferred maintenance or investing in professional staging?
Bottom Line - How much money do you expect to make on this sale? Is there a price point so low that you would choose to walk away from the sale?

Step 3 - Determine Selling Price

When it comes time to decide on a selling price, I will typically start by recommending a price range, not a specific dollar figure. There are many considerations and various strategies for pricing.

We'll start the process with a Competitive Market Analysis. I will compile a list of recent comparable sales. I will show you what similar homes have sold for and we can talk about the differences and similarities between "the comps" and your home.

Well also discuss other factors. How is the market doing right now? Are interest rates moving up or down? How quickly do you need to move? Is inventory plentiful or scarce?

At the end of the day, pricing is part art and part science. I invest heavily in research and analysis, but based on years of experience, I also listen to my intuition and gut. Over the past three years, my Sales-to-List-Price ration (the difference between list price and final sales price) has averaged 98.2%.

Step 4 - Get Ready for Showings

If you maintain your home in showroom condition, you're in the minority of homeowners. Most sellers need time to clean, declutter, de-personalize and address any deferred maintenance. This is also the time to consider if professional staging could benefit your bottom line.

Important considerations include:

Curb Appeal - Mow the grass, pull the weeds and refresh mulch in flower beds.
Odor Control - You live in your home and may no longer be sensitive to smells that could turn off prospective buyers. Ask an unbiased party for an opinion. If they detect pet smells, grandpa's cigar or an overwhelming amount of Glade air-freshener, we need to address the issue.
Paint Colors - Your bold color choices may not be appreciated by everyone. The standard advice is to "go neutral", but I can provide up-to-date recommendations on what colors are currently most fashionable.

Consult my Step-By-Step Guide to Preparing Your Home for a Seamless Sale

Step 5 - Going to Market

I create a unique marketing plan for each property based on my client's goals and the unique characteristics of the home. Common elements of most plans include:

Professional Photography - I work with a select group of local photographers who specialize in real estate. We work together to build a portfolio of high resolution, wide angle photos that will be used to market your home.
Videography - Video is an increasingly important component of most marketing plans. This may include aerial / drone video, shorts and full length virtual tours.
Interactive Floor Plans - Buyers love these exhibits as they allow them to fully visualize the home and imagine how they might use particular rooms and spaces.
Social Media - Instagram, Facebook and even LinkedIn are powerful channels for building awareness of your listing. This medium is a core strength of mine and I've built a large following of both agents and prospective buyers.
My affiliation with Sotheby's International Realty provides me with access to a truly global network of prospective buyers, leveraging major media brands such as the Wall Street Journal, Barron's and Mansion Global. Learn more.

Step 6 - Evaluate Offers

Realtors have a saying, "Your first offer is usually your best offer." And while I have often found that to be true, it's certainly something we don't take for granted. Each offer is fully vetted to make sure that the prospective buyer is pre-qualified or pre-approved. We will review all terms and contingencies to make certain they are acceptable to you. If the offer is low or includes unfavorable terms, we will work together to produce a counter-offer.

This is where my experience as a negotiator comes into play. With years of experience getting deals done, you can count on me to fully represent your interests.

Step 7 - Accepting an Offer

Once we find the offer acceptable, we will carefully review the proposed contract to ensure it includes all essential components such as the deposit amount, down payment, financing details, inspection rights and repair allowances, contingencies, settlement date, and a detailed list of fees and their respective responsibilities. When both parties agree to the terms, I will will prepare the final contract and secure signatures from all parties.

Step 8 - Preparing to Close

You have accepted an offer and are nearing the final steps of your selling journey. Before closing, both you and the buyer need to compile a list of tasks to complete. This may include formal inspections, surveys, and appraisals of your home. Additionally, necessary repairs, whether major or minor, must be addressed. We will oversee the creation and execution of this list, ensure that costs are covered by the appropriate parties, and confirm that all requirements are met by the closing date. A few days before closing, we will contact the closing company to ensure everything is ready. Additionally, make sure to arrange your move-out so the buyer can take possession of the home.

Step 9 - Closing Day

You’ve arrived at the final step in the selling process. Closing on your home involves legally transferring property ownership to the buyer. We will meet with the closing company to sign the necessary paperwork and address any remaining issues. During this period, you should also finalize tasks such as canceling utilities, cable, and lawn or trash services, updating account names for services the new owner will keep, and providing instructions for any appliances staying with the home.

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