Seller Guide

Some Key Terms:

Closing Costs: Taxes and fees that sellers must pay upon signing a mortgage and taking possession of a property.

Commission: In exchange for the brokerage’s services, sellers pay a percentage of the property’s sales price at the closing table.

Exclusivity: An exclusive right-to-sell listing agreement specifies that the selected agent now has the sole right to list, market and sell your property for the duration of the agreement, even if you find a buyer yourself.

Marketing: The marketing plan typically highlights what marketing strategies (staging, advertising, etc.) will be implemented.

Timing: If your home hasn’t sold by the end of the exclusive right-to-sell listing agreement, work with your agent to determine a new sales and marketing strategy, which may include a potential price drop.

Study The Neighborhood: Prime locations are often priced higher than developing ones. We will evaluate comparable homes that have recently sold to make sure that yours is priced correctly.

Determine Accessibility: Proximity to transport options, restaurants and parks can make your property more desirable and will usually increase its value.

Note the Condition: Upgrades and high-quality updates often raise your property’s sales price.

Study the Size: Square footage, layout and the number of bedrooms and bathrooms are important factors in determining a competitive sales price.

Assess the Market: Consider the state of the market when deciding whether it is a good time to sell. Analyze the sales of similar homes in your neighborhood over the past six months, and look specifically at days on market and list-to-sale price ratios.

Scale Back & Organize: Eliminate clutter from every room. Designate bags for donation, trash and storage, and pack up personal items.

Deep Clean: Tidy your home from top to bottom and corner to corner. Prying eyes will always find the crumbs and the cobwebs.

Wash Windows: Clean glass , dust blinds and remove screens to maximize light and views.

Paint Walls & Cabinets: Light-toned grays or beiges are neutral, soft and inviting.

Upgrade Lighting: A well-lit room expands and brightens up a space. New outlet covers and light switches are the ultimate finishing touch.

Update Appliances: Make the kitchen look modern and new.

Refinish Wood Floors: Carpets and rugs should be professionally cleaned.

Organize Closets: If your closets appear to be bursting at the seams, potential buyers might assume they are too small.

Promoting Your Property: In addition to ensuring your listing appears in publications and on websites where buyers are searching, we employ a number of tactics to help your property stand out, from creative marketing on social media to leveraging a network of professional contacts to reach qualified buyers.

Evaluating Bids: Once interested buyers submit their bids and demonstrate they are financially qualified to purchase your property, we will help you judge which are worth considering, countering or rejecting altogether. Remember: a higher bid isn’t necessarily the best one.

The Art of Negotiation: Even when you agree on an offering price for your property, you may have to negotiate on a number of other points before getting to a signed contract, from repairs, furnishings and fixtures to responsibility for fees and taxes at closing.

Prepare for the Home Inspection: When purchasing a townhome or some co-ops and condos, an inspection is sometimes ordered by a buyer to identify any repairs that would require a major investment of time or money.

Negotiate Repairs: If there is an inspection contingency in your buyer’s offer, the buyer may try to negotiate repairs prior to signing the contract.

Sign the Contract: Once the price, terms and closing date have been agreed upon, both you and your buyer will sign a purchase agreement. Your buyer will typically present a deposit of 10% of the sales price, which will be held in your attorney’s escrow account until the closing date. We have an amazing database of wonderful attorneys we regularly work with that can represent you.

Prepare for the Appraisal: An appraisal is ordered by a buyer’s lender to determine the amount the lender will provide for the purchase. Fun fact! Blake was an appraiser for many years before she was a salesperson, and her expertise helps every appraisal run as smoothly as possible.

Prepare for Approvals: If you are selling a co-op or a condo, introduce your real estate agent to the management company (or the managing agent acting on its behalf), as well as a point person on the Board of Directors so your agent can streamline board approvals on your behalf. When purchasing a co-op, a board package will need to be prepared and submitted. Your agent will liaise between the buyer, the seller and the building’s managing agent at every step in the approval process.

Close the Sale: On closing day, be prepared to officially transfer your property to your buyer, pay all closing costs and receive any sales proceeds. At closing, you will turn over the keys to the buyer’s new home and move onto yours. Congratulations!

Pop the champagne, it’s official! If you have any questions about the buying process, please don’t hesitate to reach out to our team.