SELLER CHECKLIST

1.  CONTACT AN AGENT.  Before you do anything else, do this.  A trained agent can help you determine the best price, terms, timing, marketing, and can recommend changes that will bring the best and highest price for your property.  Many times a seller will make costly upgrades to a property that will not bring more money.  It is important to discuss strategies with an agent before you potentially lose thousands of dollars. 

2.  LIST YOUR PROPERTY FOR SALE.  Whether we are in a declining or rising market, one thing is for sure... it is always changing.  Once you have made the decision to sell your property, get it on the market.  Unless you are making major changes to the property, go ahead and list the property and get the changes made as quickly as possible. 

3.  PRICE IT RIGHT.  You have heard the old saying... Location, Location, Location?  Well in this market, it is "PRICE, PRICE, PRICE".  For every location, there is a price that will cause a property to sell.   You and your agent should be in constant communication as to how well Buyers and Agents are responding to your price.  If you are questioning the Agent's price, get an appraisal.

GENERAL PRICING FORMULA

When a property is well priced, you will receive an offer in 3 to 4 weeks.

When a property gets alot of showings and no offers, then your property is 8 to 10% overpriced.  (review every 3 to 4 weeks)

When a property gets few to no showings and no offers, your property is a minimum of 10% to 15% overpriced.  (review every 3 to 4 weeks)

4.  MLS TOUR.  (Where applicable) Your agent will schedule a tour of your home.  This is an incredible opportunity to showcase your home to many agents in a small window of time.  You only have one chance at this every 12 months, so make it powerful.  Consider having your home "STAGED", hire a cleaning company, clean the windows, clean up the landscaping, turn on every light, leave some cookies on the counter, don't light scented candles and don't have a ton of potpourri.  In many cases, this is your only opportunity to make an impression.  Most MLS Tours will take 4 to 7 weeks to schedule, so make any necessary adjustments to your price before the tour.  According to the NATIONAL ASSOCIATION OF REALTORS, 49% of Buyers purchase a home because an agent chose the home and showed it to them. 

5.  SIGN AND LOCKBOX.  Always allow a sign and lockbox.  According to the NATIONAL ASSOCIATION OF REALTORS, 24% of Buyers purchase a home  they found because of the sign.  In this changing market, you cannot afford to lose 24% of the Buyers.  As for a lockbox, Agents have many homes to choose from to show their Buyers, studies show they will choose what is easy.  When you make it difficult to show a property, your odds of the Agents choosing your listing decreases. 

6.  MARKETING.  There are many forms of marketing.  The first and most important are the MLS, SIGN, and PRICE.  As you read above, this accounts for 73% of all purchases.  The remaining 27% of Buyers come from many different areas including: Internet, advertising, open houses, referrals,  and Real Estate Guides to name a few.  Discuss with your agent their Marketing Plan to get your property sold.  Remember, no amount of advertising will cause a Buyer to pay more for a property than they feel it is worth.  If your home is not selling, refer back to the GENERAL PRICING FORMULA. 

7.  INCENTIVES.   Discuss with your agent Buyer Incentives such as: paying for closing costs, home warranties, completing a home inspection and making all repairs ahead of time, paying for a year of property taxes in advance, paying for a year of HOA fees in advance, and offering higher commission to the Buyers Agent.  Your Agent is knowledgeable in this area and should be consulted.

7.  NEGOTIATING AN OFFER.  When you receive an offer, consider accepting it as written.  In a changing market, Buyers have many options and frequently will only make one offer. When that offer is not accepted, they simply move on to another property.  IF you must counter, make it as clean and simple as possible.  Only counter what is necessary. 

8.  CONTINGENCY PERIOD.     Most contracts have certain contingencies that must be met before a Buyer takes posession of the property.  These may include a home inspection, termite inspection, survey, perc test, or appraisal.  During this time, it is common that the Buyer may be able to cancel the contract based on any of these and other contingencies.   Rest assured, your agent understands this process  and will walk you through the entire way.

9.  CLOSING.  Fortunately, the State of Arizona does not require the parties to be present for closings.  Many of our clients have never even met us in person.  We can handle everything required to sell a property by phone, fax, e-mail and regular mail.   Once a property has closed, your final paperwork and monies are distributed as discussed with your Escrow agent by the Title Company.   Obviously it is great to meet our clients in person and yet we know this is not always possible.  Please discuss with your Agent the best way to meet your needs.