Sprague Companies
Residential

Selling your home, what is involved?

When you make the decision to sell your home, many questions must be answered to put processes in motion that will successfully get it sold. Remember, these are “processes”, not events. Let’s brainstorm the components of these many processes. Let's also look at who normally performs these processes in both the working with a REALTOR approach and the For Sale By Owner (FSBO) approach. What’s involved?

Who Performs Processes

Selling Processes

With a REALTOR

For Sale By Owner

Verify that your home’s mechanical systems are functioning properly and all needed repairs have been completed.

Seller

Seller

Locate critical documents from when you bought your home, i.e. survey, warranty deed, inspection reports.

Seller

Seller

Plan where you want to move when your home sells. Sounds obvious, its not!

Seller

Seller

Plan how you will move from your current home to a new one.

Seller

Seller

Find a qualified REALTOR to help and advise you on the entire home selling process.

Seller

N/A

Explain the Broker’s Listing Agreement.

REALTOR

N/A

Provide a list of competent contractors to perform updates and needed repairs to your home prior to putting it on the market.

REALTOR

Seller

Participate in the marketing decisions to help sell your home.

REALTOR & Seller

N/A

Create a marketing plan to sell your home including important marketing data about the property, i.e. room sizes, tax amount, legal description, compelling marketing description of property, property features, property photos or virtual tour, commission information, etc.

REALTOR

Seller

Sign up for a Seller’s Residential Service Agreement (home warranty).

REALTOR

N/A

Determine a realistic selling price for your home based on actual selling prices for comparable homes.

REALTOR

Seller

Decide how you will advertise your home to potential buyers.

REALTOR

Seller

Create custom publicity fliers and distribute to each active agent in the community.

REALTOR

Seller

Create a listing book for your home for buyers to reference your home’s features, lot, utility, and tax information, neighborhood benefits, schools, shopping, medical, and other buyer features.

REALTOR

Seller

Create professional yard signage.

REALTOR

Seller

Purchase a “Talking House” type service that provides buyer lead capture technology.

REALTOR

Seller

Set up a toll free message center technology with instant message notification to capture showing requests and property information inquiries.

REALTOR

Seller

Purchase a property flier brochure box and keep supplied with fliers.

REALTOR

Seller

Discuss constructive changes to you home to make it more appealing, and a sale more likely, to interested buyers.

REALTOR & Seller

Seller

Sign up with a showing coordination service that schedules all showing appointments and captures showing feedback.

REALTOR

N/A

Place a secure key box on the property.

REALTOR

N/A

Plan to be present for all showings or place a key box on the property for showings when you aren’t available.

N/A

Seller

Stage our home to SELL.

REALTOR & Seller

Seller

Schedule and plan to be present for public open houses.

REALTOR

Seller

List your home in the local Multiple Listing Service (MLS).

REALTOR

N/A

Promote the sale of your home to nationally known real estate Web sites, i.e. REALTOR.com, MSN.com, Yahoo!, and your local newspaper’s site.

REALTOR

N/A

Take appealing property photos or purchase a virtual tour and post to the real estate Web sites.

REALTOR

N/A

Obtain education on the numerous methods of financing the purchase of your home.

REALTOR & Seller

Seller

Prepare a Seller’s Net Sheet to determine how much will be left after all debts and closing costs are paid.

REALTOR

Seller

Prepare our families for the showing cycle.

REALTOR

Seller

Keep you educated and up-to-date on listing and selling market conditions in your area.

REALTOR

N/A

Update you on all activity regarding your home: number of showings, showing feedback, open house attendance, sign inquiries, etc.

REALTOR

N/A

Follow-up on all second showings of your home to answer questions and help motivate buyer interest.

REALTOR

N/A

Ensure that all offers are from pre-qualified buyers who are capable of closing on the purchase.

REALTOR

N/A

Decide on your negotiating strategy when you receive an offer to purchase your home.

REALTOR & Seller

Seller

Understand the Offer.

REALTOR & Seller

Seller

Represent you in contract negotiations with buyers to help generate the highest selling price for your home.

REALTOR

N/A

Recommend a strategy to deal with Buyer requested repairs to the property.

REALTOR

Seller

Prepare and negotiate the necessary Contract Amendment if you need to stay in your Buyer’s new home for a few additional days?

REALTOR

Seller

Select and work with a title company to close the sale of your home.

REALTOR & Seller

Seller

Coordinate escrow, financing, and closing activities on your behalf to ensure a smooth, hassle-free closing.

REALTOR

N/A

The closing! Finally!

REALTOR

Seller

Personally deliver your proceeds check at closing of your home’s sale.

REALTOR

N/A