How to Sell Your Home Fast (or not, if that’s your thing)

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If you’re thinking about selling your home, you want the highest and best price. Because most people think that their home is worth more than it really is. They need an agents help.

How to Sell Your Home Fast (or not, if that’s your thing) attempts to show you how to sell your home fast for the highest and best price.  The process makes putting a home on the market less stressful. And owners will have an easier time making decisions when it matters most.

Prepare your home for sale by starting from the outside to create curb appeal. By giving your home a new paint job if if hasn’t been painted in the past 10 years.

Your agent may recommend that you perform repairs to correct visible flaws-or even suggest staging your home so it feels more spacious. And potential buyers can picture themselves living there.

Price it right by asking your broker to perform a market analysis. And look closely at the comparable sales of similar homes in your neighborhood that have closed in the last 90 days and take the number of available listings into account when agreeing to an asking price. 

Let me explain why:

  1. Homes that have failed to attract a buyer in a reasonable period of time may be overpriced.
  2. Foreclosures or distressed properties in your neighborhood can impact your homes market value.
  3. It never pays to set the price too high; most buyers will need financing and the bank will generally use an appraisal based on recent sales to justify the loan amount.

Pricing your home competitively from the get-go increases the odds of a quick sale.  

Because:

  1. Most buyers screen available homes on the Internet, and new listings get 4 times more web traffic. If your home is priced too high when it hits the market, you run the risk that active, qualified buyers will scroll right past it.
  2. New listings are calledhot for a reason-buyers get excited about them. Showings are likely to cool off noticeably after the first 30 days on the market.
  3. When weighing an offer, make sure to consider the potential costs of holding on to your property longer than you want or need to (including the mortgage, property taxes, insurance, maintenance, etc.).

Make sure you also lean into your trusted real estate professional for additional insight and guidance when you are thinking about selling your home.

44 percent of sellers offered incentives to attract buyers  and 91 percent of sellers said their home was listed on the internet

Each week time is spent researching and writing enchanting real estate trend articles for you. I hope you enjoyed this one. Let me know what you think.

Any questions? Would you like to chat? Call us at 415 378-6614 or send us a note.

We look forward to hearing from you!

 

 

 

First Time Home Buyer Contract

If you are a first time buyer looking at homes in the San Francisco Bay Area, things can seem pretty confusing. It is important to understand what happens if you are a first time buyer or seller and you decide to cancel the first time home buyer contract.

Mark Moz Photo
Mark Moz Photo

Speak with your local Realtor to understand the repercussions of the cancellation of the first time home buyer contract. There are various reasons that a home sale might not close including:

• Sudden anxiety about finances
• Rejected mortgage papers
• Finding another option
• Sudden lifestyle change
• Natural disasters

If you are a buyer:
If you are buying a home and for whatever reason decide not to go through with the buy, try to do so before you put it in writing. Before you sign the residential buy agreement, you are in the negotiating stages. There is no need to make a earnest money deposit at this point, so you won’t be losing any money.

If you have already signed the residential buy agreement, the process is more complicated. Common contingencies include:

• Mortgage loan contingency
• Home inspection contingency
• Sale contingency
• Appraisal contingency

If you decide to withdraw your offer after the contingency period has passed, you will be default. And will lose your earnest money deposit.

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If you are a seller:
If you are a seller, you have a lot less wiggle room. Putting your house up for sale and signing a contract is a clear legal sign that you want to sell. If you change your mind then you should know that you have to provide a reason. And because there are other players involved. You may have not only to return the earnest deposit money, but also pay for other costs the buyer will now incur. In some cases, you may also have to pay costs that your Realtor may have incurred. In most cases everyone will agree to move on without asking for more fees. as long as they don’t have any more monetary losses other than the earnest money deposit.
Its important to read and understand the residential listing agreement before you sign it. Make sure you understand any costs that you will be responsible for if you later decide not to sell your home.
To know exactly what happens, contact your realtor in touch with homes, condos, lofts in San Francisco.

Any questions? Would you like to chat? Call us at 415 378-6614 or send us a note.

We look forward to hearing from you!

Impact Of Opting Out Of The MLS

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I just read an article opposing Zillow’s position on so-called pocket listings. Pocket listings or listings that are not marketed on the MLS results in brokers being able to double end deals.

Getting paid on both sides of the transaction is unethical and harmful to consumers according to a group known as Consumer Advocates in American Real Estate. They claim it’s a “harmful practice that thrives on breaching trust, deceiving clients, and intentionally putting them in a situation of duress and then profiting from it”. 

I disagree with this argument completely because there are many ways of marketing a property effectively.
After explaining the pros & cons of not using the MLS to market their homes, ultimately it’s my clients choice to have their homes listed on the MLS.
I take this position because there are many other ways of marketing listing to other brokers and consumers.   Let me explain how.

  • Marketing to my CRM
  • Postcard marketing. For about $50 I can reach every agent in the state..

Of course the different MLS’s around the country say no. Is it because they are afraid of losing all the fees they collect from us brokers. For very little value.

That’s why I was infuriated after reading an article by Doug Miller a consumer advocate. Who said  “pocket listings exist to generate a double fees & deceive the consumer”.

So my question to Doug is why is it wrong wanting to earn more money?

All sellers are required to sign an agency disclosure form where the pitfalls of not listing on the MLS is explained in detail.
Always give full disclosure to your clients, explaining the benefits and well as the bad of pocket listings.

Each week time is spent researching and writing enchanting articles on real estate trends. I hope you enjoyed this weeks subject. Share it with friends and family.

Any questions? Want to chat? You can reach me at (415) 378-6614. Or send a note to andrew@batesrealestategroup.com. We’d love to hear from you.