1.
Get a Property Profile from a Real Estate Agent
that lets you know what the current market value of your property is.
2.
Address any issues your property has and speak
with your Agent about what is worth fixing and what a good sales price would be
based on your property condition.
3.
Discuss what costs are associated with listing
your property (Commissions, Reports, etc.):
A) Though brokerages can charge Sellers up to 6% in CA, 5% of the purchase price is the average
commission a Seller pays to Real Estate Agents for the sale of their property
(split 2.5% to the Seller’s Agent and 2.5% to the Buyer’s Agent). Discuss with
the Agent representing you what those costs include (Listing the property,
Marketing, etc.)
B) Seller has to provide a Natural
Hazard Report per CA law. Costs $90. Done by a company that does not have to go
to your property.
C) You have the option of getting a Home
Inspection Report to show potential Buyers the condition of your property but
it is not mandatory as Buyers will usually get their own. Home Inspection Reports cost on average $600. Pest Reports on average
are $395 and Roof Inspections are on average $105. (These inspections are done
by companies that require access to your property). Talk with your Real
Estate Agent about whether or not you should get inspections. Remember every
property and situation is different.
D) Although Buyers usually pay for Escrow and Title fees, the Seller is responsible for paying transfer tax which is usually $1.10 for every $1,000 of the selling price.
4. Once you are comfortable with your Real Estate
Agent and agree to the terms of the listing, you and your Agent will sign a
Listing Agreement that outlines the terms of your agreement and also some
disclosures regarding your property.
5. Your property will be listed in MLS, the main
real estate industry database. This information will then be advertised on
Zillow, Redfin, Realtor.com, etc.
6. Your Property will be shown by appt. Your property will have a lockbox
that allows potential Buyers, accompanied by their Agents, to view your
property. Please go over any showing requirements you may have with your Real
Estate Agent.
7. Your Real Estate Agent
will present any and all Buyer offers to you as they come in. It is up to you to choose
what offers to accept and what offers to counter offer or deny.
8. Once you have chosen an offer, you will sign the Buyer’s
Purchase Offer Contract and some more disclosures. Title/Escrow is officially opened by
the Agents and then it is a waiting game on the Buyer for them to complete
their inspections, financing, etc. if those contingencies apply.
9. Once the Buyer has completed everything on their end, you
will sign Seller documents with a notary for the Title Company including Transfer
of Deed, etc.
10. Close of escrow. Sale is complete when funds are wired and
the County records the property’s new owner. It is usually at this time that
you hand over the keys and possession of the property.
My Full Service Option for Sellers (5% total commission):
-Consulting with you on how the real estate process works
if you are new to it and being available for any questions you may have
-Current Market analysis of your property (using the MLS database
as well as doing an in-person evaluation)
-Draw up a Listing Agreement Contract (I own my
listings not my brokerage, feel free to ask me what extra protection this offers
my clients)
-Draw up and providing all the necessary legal CA Disclosures
and Contract documents to be signed
-Provide Professional Photography
-Provide a Home Inspection
-Provide a Natural Hazard Report
-Coordinate with Staging Professionals if you choose to
stage your property
-List your property in the MLS database (that feeds to Zillow, etc.)
-Put up a For Sale sign and Supra key lockbox at your
property
-Market your property via MLS, social media, online
platforms, internal communications with other agents, listing your property
address on my banner(s), etc.
-Manage property showings and answering any questions
buyers and their agents might have
-Provide the Title Company with all the documentation
and communication they require
-Work with the Buyers’ Agents in procuring offers for
your property
-Present Offers and reviewing them with you until you
accept one
-Work with the Buyer’s Agent on the offer you accept to make sure the
transaction runs as smoothly as possible
-Provide you with timely updates and being available for
any questions until your transaction is complete
My 'For Sale By Owner' Service Option for Sellers (4%
total commission):
-Draw up a Limited Listing Agreement Contract and providing all the necessary legal CA Disclosures and Contract documents to be signed
-Input your property into the MLS database
-Provide the Buyer's Agent and the Title Company with all the necessary documentation they require
You would do
all the marketing for your property, manage showing times, work directly with
Buyer's Agents and Buyers, etc.
My Private Sale Option for Sellers ($4,500 Flat Fee):
If you already have a Buyer and an agreed upon sales price for your property, I can draft the necessary documentation, including the Listing Agreement, Disclosures and Contracts you need to sell your property with the benefit of brokerage representation. I can represent both the Seller and Buyer for $6,000 total.
*Remember only licensed real estate professionals can be
subscribed to the MLS database, ZipForms (the service that provides all the CA Real
Estate Contract Forms), have access to Supra Key Lockboxes and Realtor
organizations. Agents also pay a certain commission split to their brokerages
to cover liability, insurance and the overhead business costs of client representation.