At Berkshire Hathaway HomeServices Drysdale Properties, our extraordinary homeselling skills set us apart. We call it the Drysdale Difference.
- Apply our expertise to help you to determine a Pricing Strategy for your home.
- Provide you with a comprehensive market analysis of your property utilizing Multiple Listing Service and other data sources.
- Help you prepare your home for sale, and we will discuss the benefits of obtaining the appropriate pre-inspections, CLUE report and Home Warranty prior to putting your home on the market.
- Showcase your property to its best advantage and create excitement with DayONE marketing.
- Provide you with a written Sales and Marketing Plan for your property.
- Provide the greatest level of exposure for your property with our M.O.R.E. marketing system.
- Assertively pursue every potential buyer through the use of our Rapid Response Systems.
- Present you with all offers received on your property and discuss the terms with you.
- Utilize our negotiation skills to assist you in achieving your homeselling objectives
- Anticipate the transaction process to make the experience as stress-free as possible, and we will manage the transactional details through the closing and possession processes.
- Communicate with you regularly and in a manner that you prefer.
- Follow up with you after the sale to make sure that all of your questions have been fully answered.
Finding a REALTOR
Of all the decisions you'll face when selling your home, there's none more important than the person you choose to represent you. The job of your REALTOR® is to support you in selling your home at the best possible terms, and to aid you through the entire process. Your REALTOR® will explain the process of selling a home, and familiarize you with the various activities, documents and procedures that you will experience throughout the transaction.
Tips for Selecting a REALTOR®
Your Real Estate Professional should be:
- Aware of the complicated local and state requirements affecting your transaction.
- Effective in multi-party, face-to-face negotiations.
- Highly-trained, with access to programs for continued learning and additional certifications.
- Resourceful in attracting the largest possible pool of potential buyers.
- Knowledgeable in the technology resources that facilitate the transaction.
- Assisted by a fully-staffed marketing department.
- Supported by professional legal counsel.
Find a REALTOR®
Don’t sell a home without one. Besides helping you find the buyer, a REALTOR® assists you with every aspect of your homeselling experience. From marketing to open houses, contracts to disclosures, appraisals to inspections, questions and concerns, our sales professionals are experts in the industry and are eager to help you every step of the way.
Decide How the Local Market Will Affect Your Sale
Do some research. Simply chatting with your neighbors can teach you a fair amount about the heat of the local market. Also, read your local newspaper's real estate section and talk to real estate agents you meet at open houses. Use Comparable Houses to Identify Market Value and set Your List Price The best source of pricing information comes from houses directly comparable to your own. In the real estate industry, a "comparable," or "comp," is a house with similar features, preferably located near yours. A Berkshire Hathaway HomeServices sales professional can provide you with a competitive Comparable Market Analysis of your home.
Make Your House Look Its Best
Before putting your house on the market, make it look as attractive as possible -- buyers will pay thousands of dollars more for a house they like the look of. Usually you don't need to do a major remodel, although a fresh coat of paint can brighten your home's prospects considerably.
Fill out Any State-Required Forms
Your Berkshire Hathaway HomeServices sales professional can assist you with this. The buyer will probably shoulder the main paperwork burden in this transaction -- preparing the purchase contract. However, in many states, the seller is responsible for filling out a disclosure form, telling buyers what they know about the property's physical condition.
Advertise and Hold an Open House
Advertise on the MLS. If you're working with a real estate agent, the agent should help place put the property into the online Multiple Listing Service, and maybe in the classifieds too. If you don't have an agent, you can take the same steps yourself (one website, www.iggyshouse.com, allows you to put your house on the MLS for free). Then interested buyers can make an appointment to see the house in person.
Hold an open house.
Many home sellers find open houses a useful tool. They're certainly good for bringing in the crowds. Some of the visitors will merely be curious neighbors. Welcome them, too -- they may mention your house to their househunting friends. Others will be genuinely interested buyers, including some who were reticent about making an individual appointment. With any luck, one or more prospective buyers will present a written offer to buy your house.
Evaluate the offers.
Here's where your real estate agent can play an important role, meeting with the agents who present offers and helping you decide which offer is the strongest. It won't necessarily be the one for the most money! A high bid with shaky financing, or one made contingent on the buyer selling his or her house first, may actually drop to the bottom of your pile. Consider a counteroffer. If none of the offers you receive are acceptable, you can counteroffer, suggesting changes in terms or even a higher price.
After counteroffers have gone back and forth between you and the buyer, and you've both signed off to indicate your acceptance, you're technically "in contract" to sell your house. At that point, you're legally bound to sell your house, and can't change your mind without potentially facing a lawsuit. (The exception is if you included conditions or "contingencies" in the contract, such as the buyer furnishing you with proof of his or her financing, and these conditions aren't met.)
Closing the Deal
The signed purchase contract will include a closing date, usually several weeks in the future. During this time, the buyer will line up financing, inspections, insurance, and more. As the seller, your duties will include:
- Making your house available for inspection
- Negotiating with the buyer over repair issues that come up, and
- Moving out your possessions.
- You probably won't meet with the buyer on the closing date. Usually the two of you sign various documents separately, in the office of your escrow sales professional.
Once the closing occurs, the buyer has the right to full possession of the house. If you can't be out by that date, you may be able to negotiate a short-term rental agreement with the buyer.
After the Sale: Tax Considerations
Assuming you make a profit on your sale, you might have to pay capital gains tax. The IRS website at http://www.irs.gov/ can tell you more.
Importance of Pricing
Understanding Market Value
Market-sensitive pricing can be the key to maximum market exposure and, ultimately, a satisfactory sale. The existing pool of prospective buyers determines a property's value, based on:
- Location, design, amenities and condition.
- Availability of comparable (competing) properties.
- Economic conditions that affect real property transactions
- Factors that have little or no influence on the market value of a house include:
- The price the seller originally paid for the property.
- The seller's expected net proceeds.
- The amount spent on improvements
- The impact of accurate pricing:
- Properties priced within market range generate more showings and offers, and sell in a shorter period of time.
- Properties priced too high have a difficult time selling.
- Determining A Market-Sensitive Price
- An impartial evaluation of market activity is the most effective way to estimate a property's potential selling price. A Comparative Market Analysis considers similar properties that:
- Have sold in the recent past - This shows us what buyers in this market have actually paid for properties similar to yours.
- Are currently on the market - These are properties that will be competing with yours for the attention of available buyers.
- Failed to sell - Understanding why these properties did not sell can help avoid disappointment in the marketing of your property
- The Dangers of Over-Pricing
- An asking price that is beyond market range can adversely affect the marketing of a property.
- Fewer buyers are attracted, and fewer offers received.
- Marketing time is prolonged, and initial marketing momentum is lost.
- The property attracts "lookers" and helps competing houses look better by comparison.
- If a property does sell above true market value, it may not appraise, and the buyers may not be able to secure a loan. The property may eventually sell below market value.
Value Range Marketing
Value Range Marketing (VRM) can give your property an advantage over other houses on the market. With Value Range Marketing, your property is listed at a fixed price, but marketed within a price range. This unique marketing approach can attract a wide array of buyers and encourage more buyers to preview the property and submit offers. Benefits for Sellers:
- Increased marketing exposure for your property
- Eliminates the need for price reductions
- Accelerates the sales process allowing true market forces to determine maximum price.
- Attracts more buyers
Benefits for Buyers:
- Introduces a larger selection of properties to view
- Eliminates intimidation by a fixed price tag
- Allows searching within affordable price ranges
- Allows the negotiation process to be more comfortable.
Value Range Marketing - Finally, A Better Pricing System For Today's Real Estate Markets
Value Range Marketing (VRM) is a marketing system that broadens the range of buyers available to view your property. VRM prices are the result of years of ongoing, sophisticated market research, making the VRM system much more than simply "picking a price range."
VRM is perfectly suited for today's market.
86% percent of all buyers begin their search for a home on the Internet; with buyers selecting a range of prices to search. Most buyers are pre-qualified and know their "range of affordability" - or how much they can afford to spend. Properties marketed using VRM will show up in many more "range of affordability" searches, exposing your property to more prospective buyers.
VRM vs. Traditional "Fixed" Pricing.
Marketing within a proven, researched price range rather than a "fixed" price connects buyers to a wider spectrum of homes improving their chances of finding your property. For you, this means more offers, which helps to sell your property faster and still meet financial goals. VRM sets comfortable boundaries for agreeing on a price. Buyers start the negotiation process much sooner. Sellers attract more offers and have a better chance of getting what they want. Experience proves that high fixed prices discourage buyers from looking at homes they might be able to afford. Which is why VRM may be the fastest way to sell your home.
Marketing Your Home
To successfully promote your property to the market, a comprehensive plan of targeted activities is essential.
Promote directly to prospective buyers:
- The Internet
- Yard sign
- Open houses
- Print advertising
- Other marketing activities
Enlist the efforts of other real estate professionals:
- The Berkshire Hathaway HomeServices Network
- Referral and relocation resources
- Multiple Listing Service (MLS)
- Direct promotion to other real estate professionals
Maintain communication with you
- Review the results of our marketing activities
- Consult with you to fine-tune our marketing strategy, as needed
Maximum Internet Exposure
The most important words in Real Estate when selling your home. Exposure, Exposure, Exposure! Berkshire Hathaway HomeServices Drysdale Properties has assembled a dynamic collection of established and emerging online companies. From highly trafficked world-class search engines to real estate industry start-ups, we select the companies that deliver EXPOSURE for home buyers and sellers. While BHHDrysdale.com remains the center of attention in our online consortium, we also have a demonstrated track record of working with the best Web sites and the most progressive symbiotic partners. Our proprietary Online Advantage solution seamlessly transitions national prospects into local customers. No other brand has a stronger commitment to EXPOSURE. Only Berkshire Hathaway HomeServices delivers a collaboration system that provides the best of both worlds: personal service from real estate professionals you can trust and powerful world-class online tools fueled by the freshest property data.For more information, contact a Berkshire Hathaway HomeServices sales professional.
Preparing Your Home For Sale
It is important for a property to make the best possible impression on prospective buyers. The following can interfere with a buyer's appreciation of a property:
- Lawn needs mowing and edging
- Untrimmed hedges and shrubs
- Dead and dying plants
- Grease or oil spots on the driveway
- Peeling paint
- Anything that looks old or worn
- Worn carpets and drapes
- Soiled windows, kitchen, baths
- Pet and smoking odors
- Peeling paint, smudges or marks on walls
A comparatively small investment in time, money and effort to remove these distractions can lead to stronger offers from buyers.
Show off your home - every time!
These tips can help your house make the best impression, every time it is previewed by sales professionals or shown to prospective buyers:
- Remove toys, newspapers, yard tools and other clutter.
- Tidy up; pick up after pets.
- Park vehicles in the garage or on the street; leave the driveway clear.
- Add color with flowers and potted plants.
- Make beds; clean up dishes; empty wastebaskets.
- Remove clutter throughout; organize closets and cupboards; put away toys.
- Set out "show towels" in baths.
- Freshen the air; potpourri or baked bread aroma; deodorize pet areas; set comfortable temperature.
- Do quick vacuuming and dusting.
- Arrange fresh flowers throughout.
- Fire in fireplace (when appropriate).
- Turn off television; play soft background music.
- Open drapes and shades; turn on lights.
The HomeSelling Process
Selling a house typically includes many of the following elements. I will be your resource and guide every step of the way. Initial Consultation
- Determine your needs and priorities
- Review "agency" choices & select appropriate working relationship
- Discuss Marketing Plan
- Establish Pricing Strategy
- Design and Implement Marketing Plan
- Complete home enhancement recommendations
- Carry out scheduled marketing activities
- Show the property to brokers and prospective buyers
- Communicate with you on a regular basis
- Monitor results of marketing activities
- Modify Marketing Plan and Pricing Strategy as necessary
Preparing Your Home For the Market In order to sell your home quickly and on with the best possible terms, it's necessary to prepare your home for the market. This process includes:
- Deciding when to put your home on the market.
- Establishing a strategic price based on recent comparable sales, local market conditions and your motivation to sell.
- Estimating probable net proceeds.
- Advising you on how to make your home more appealing to potential buyers.
- Marketing Your Property
- Ordering a "FOR SALE" sign to be placed prominently on your property.
- Installing a lock box to make it easy for agents to show your home.
- Submitting your home to the regional Multiple Listing Service for immediate exposure to the real estate community.
- Arranging Sales Associates in the area to tour the home.
- Developing a flyer/brochure highlighting the features and benefits of your home.
- Promoting your home at the appropriate Association(s) of Realtors' for maximum exposure to other cooperating agents.
- Holding open houses when appropriate.
- Contacting your neighbors to promote the property.
- Advertising your property on our regular office schedule meetings.
- Featuring your property on our web site and REALTOR.com.
- Asking clients and colleagues if they know of possible buyers.
- Managing the Transaction
- You'll appreciate having a strong advocate on your side during the transaction!
- Review Offer and Reach Agreement with Buyer •Buyer's Real Estate Professional presents offer
- Discuss and clarify proposed terms and conditions
- Negotiation; possible counteroffers
- Reach final agreement
Complete Settlement Process (per purchase contract)
- Deposit of buyer's earnest money
- Sign documents
- Title search; preliminary title report to buyer
- Removal of remaining contingencies
- Buyer's final walk-through of property
- Loan funding/balance of funds from buyer
- Recording of title
- Relocation of seller; possession of property by buyer
- Help you find your next home, as needed
- Assist you with relocation, as needed
- Provide resources for other after-sale homeowner needs
Where do I start?
The place to begin is to find a licensed REALTOR® to assist you with your real estate sale. Choose an agent that gives you a proposal of the services that will be provided to achieve your desired goal. An important step in your real estate sale is to find a lender. A local lender will specialize in loans for properties in your local area. Your REALTOR® can give you some recommendations for a local lender to work with. A lender will review your credit, work history and funds to close escrow. The lender, after determining your credit worthiness, will provide you a loan approval letter. A loan letter should accompany any real estate contract. Loan approval will give you a negotiating advantage in working with sellers.
Do you charge for market analysis?
There is no charge for a Comprehensive/Comparable Market Analysis as this is a necessary tool not only for you to know more about the market in your area, but to prepare us to help you with what is possibly one of the largest financial decisions you can make. Be aware that the CMA suggestive price will be based solely on the most current data available and that after meeting with you and touring your home we can get a more definitive price established.
Can you represent a buyer and a seller at the same time?
Yes, REALTORS® are capable of representing both the buyer and the seller at the same time, howver this is not the norm. The possibility of representing both sides of a transaction is quite small. The national average is probably only about a 2%-3% chance. If there is a possibility that this may occur all parties to the transaction must agree to the REALTOR® representing both sides. Since a REALTOR®'s first fiduciary responsibility is to his/her client, the REALTOR® would have to work in your best interest. If you feel the most comfortable with another agent representing the other side, then REALTORS® can easily refer that client to another agent within our firm.
What sets you a part from other REALTORS® in other companies?
At Berkshire Hathaway HomeServices Drysdale Properties, we offer our agents the tools; training, support, and technology to best exceed the needs of buyers and sellers. It is our mission to build on the American Dream and we look forward to helping you along the way.
What's your commission?
A standard 3% commission is applied to each side of the transaction. Commission rates are not set by law. It is important for a seller to interview an agent and see their marketing plan and the tools they will use to get the home sold at the highest price, in a reasonable time with the least inconvenience and stress to the seller. At that point the seller and agent can discuss the marketing/brokerage fee.
Can you help me get pre-approved with a lender?
Yes! Berkshire Hathaway HomeServices Drysdale Properties works hand-in-hand with the finest loan officers in the industry to support you.
What if my credit isn't perfect?
There is a mortgage for everyone in today's financing environment. Through the One-Stop-Shop at Berkshire Hathaway HomeServices Drysdale Properties, our agents and our mortgage partners can help with credit improvement and counseling to find the best mortgage loan for you. If your credit is not perfect, if there are blemishes on past credit history, our professionals can help you get on track to obtain an affordable mortgage loan so you may realize the American Dream of Home Ownership.
Will you help me coordinate inspections?
Our sales associates are encouraged to take advantage of Premier Transaction Services. SkySlope, our paperless transaction system, is a process by which each inspection, coordination, etc. is "logged" and verified for the agent as well as the client. It's our "risk management" for you and provides a seamless transaction.
What happens when I enter into a contract?
Select a real estate agent to advise and assist you in preparing a contract. Preview the properties available and select the property that best fits your lifestyle and needs. Your agent will assist you in preparing a real estate contract, which is a legal agreement between the buyer and seller. The buyer will be requested to give an earnest money down payment of typically 1% of the purchase price. The contract gives the buyer the opportunity to request title insurance, escrow fees, inspections, repairs and a home warranty, a 1-year service plan. Also, the buyer can request the seller to assist with the buyer's loan and closing costs. The contract is fully accepted when the buyer and seller mutually agree and sign the contract and counter offers. The seller can entertain all offers until the buyer and seller agrees evidenced by their signatures of acceptance.
What happens when I enter into a contract and the home inspections reveal too much work is needed?
Buyers have the opportunity to pay to have a Home Inspection completed on the home they are purchasing. When the report reveals that there is work to be completed, the buyer can prepare a "Request for Repairs" listing the repairs to be completed by the seller before the close of escrow. If the seller refuses to make the repairs, the buyer has a time period to give written notification to the seller that they no longer want to purchase the property and select to cancel escrow. The purchase contract gives the buyer the opportunity to approve the inspections, disclosures and unknown material matters. When there is an issue that cannot be agreed upon between buyer and seller, the buyer has outlined time periods to notify the seller and if the seller chooses to disagree, the buyer can cancel the transaction.
I'm moving out of the area. Can you refer someone who can help?
Yes, Contact our Relocation Department. They are skilled and licensed professionals ready to help. Our Relocation department does an excellent job of matching up clients with suitable REALTORS® all across the US. Our Relocation Department acts as your Real Estate Concierge to "hook-you-up" with all of your real estate requests.
How much money do I need for a down payment?
There is a selection of loan types from 100% financing to a variety of down payment programs. Consult your lender for the best loan program that fits your needs. Each loan includes loan costs that cover the loan processing, credit report, appraisal and prepaid items.
Can the seller help with closing costs?
Buyers frequently ask sellers to help with closing costs and this is becoming a common practice. Sellers can help with closing costs as long as it meets the criteria of the lender, which varies from transaction to transaction.