David Wall on Selling Your Home
The process of selling your house can be complicated and stressful. With Davids knowledge of the market and years of experience, the entire process can be made as simple, streamlined and stress-free as possible, leaving you to focus on other things.
- Market Knowledge and Pricing
- Marketing and Advertising
- Actively Marketing your Home
- Communicating Activity and Feedback
- Continual Pricing Analysis
- Contracts and Negotiating
- Monitoring, Renegotiating and Closing
- Click here for more Information on Working with Real Estate Agents
As a full-time real estate professional, I do not have another job or employment. I log a lot of hours per week visiting, studying and analyzing homes in the West Asheville market. By using market trending tools such as the MLS and other market metrics along with my own insight of the neighborhoods, I am able to effectively price homes for fair value and low market time. Real estate is a local market and can change neighborhood by neighborhood and street by street.
How do you determine the proper pricing of a home?
Search the internet and you will find literally hundreds of resources for "home values". From online real estate giants like Trulia and Zillow to national sources like the S&P Case Schiller Home index - it seems like everyone's got an angle on what your home is worth. Even our local news sources like the Asheville Citizen-Times want to chime in on the debate. Here's the problem - none of these services take a step into your home, see it from the inside, and focus on the actual "neighborhood" that will ultimately constitute price. My philosophy is that the only way to provide you with accurate, granular pricing of your home is to study the local market, visit local "comps" (comparable properties to yours) and then visit your home. Without being able to accurately compare your home with others on the market, recently sold homes, and those going under contract, "estimated" prices really don't mean much. Realize that every element of media right now is telling the general public that it is a buyer's market. With a large inventory to choose from, desperate sellers trying to sell their homes, and even short sales and foreclosures driving prices down they aren't far from the truth. Pricing a home, not just accurately but effectively, from the start is the most important aspect for sellers to consider.
If you are interested in determining an accurate price for your home, even if you aren't considering selling immediately, please contact me to set up an appointment. I will be happy to come visit your home and then provide you with a CMA (Comprehensive Market Analysis) of comparable properties in your area.
The next step is a marketing plan. Oftentimes, I will recommend repairs or cosmetic work that will significantly enhance the salability of the property. For some sellers, I understand that is not feasible. Marketing includes the exposure of your property to other real estate agents and the public. In Asheville, a majority of real estate sales are cooperative sales; that is, another real estate agent will bring in a buyer. I will act as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients. Advertising is part of marketing. From traditional marketing techniques such as newspaper and direct mail to online avenues such as Realtor.com, Trulia, Zillow, and much more, I will take every effort to generate maximum exposure for your property.
Next, to pricing, the actual marketing before and during your home being listed is one of the most important factors to consider. Although nearly 75% of buyers come represented by other agents, it is necessary to gather the greatest amount of exposure for your home. With this in mind, below is a short marketing plan I provide to all of my listings, regardless of price point.
1. Professional Photos, Virtual Tour and MLS Syndication - Your home is only as nice as the photos make it out to be and that's why I work with a select group of photographers to capture your home in both stills and 360-degree virtual tours. These photos will be distributed to our local MLS (Multiple Listing Service), a database of properties accessible by fellow real estate professionals. I will also create a custom copy, include amenity information and more to make your home as desirable as it truly is.
2. Online Listing Distribution - More and more buyers are searching the internet for homes that interest them. According to the National Association of Realtors, over 82% of all home buyers start their search on one of the major search portals. I will submit your property to all major search portals including Realtor.com, Trulia, Zillow, Yahoo! Google, Craigslist, and over 200 other sites. In addition, each of my homes receives a unique URL (www.youraddress.com) as well as featured placement on the www.WestAshevilleRealEstate.com website. I will leave no stone unturned to generate exposure for your home.
3. Direct Mail and Strategic Open Houses - Before your listing goes active, I will mail full-color postcards announcing your listing and the initial open house. By not showing your home until the first weekend it is listed we are able to generate more interest in your home, resulting in a more "competitive" showing environment." I will also hold strategic open houses throughout the listing of your property if your location deems it beneficial and it does not disrupt your family.
4. Email blasts to Successful Co-op Agents - I have worked hard developing a relationship with many of the top real estate agents in the Asheville area and will personally announce your home to them when listed. I will also use statistical data from the MLS to target specific agents that have represented buyers purchasing a home in West Asheville. Digital flyers will also be created and sent out to the agent population of over 800 professionals.
When a property is marketed with my help, you do not have to allow strangers into your home. An agent will accompany qualified prospects through your property at all times - helping to protect your investment and your family.
78% of all home buyers and sellers unhappy with their real estate professional list "Lack of Communication" as their #1 reason for dissatisfaction. I believe that the selling of your home can be an incredibly stressful time and one that I strive to make less stressful through streamlined communication. I will discuss a communication plan with you that includes feedback on open houses, showings, and comparable properties. Agent/Potential Buyer Feedback - I will follow up with each agent via email and phone calls requesting feedback from both their clients and the agent on your property. My goal is to gain a better understanding of what they liked/did not like about your home, and how they feel your home is positioned against competition in the marketplace.
The West Asheville real estate market is ever changing - week to week, month to month. I work very hard at keeping my fingers on the pulse of this fluctuating market and do so through a variety of both online and offline tools.
At the beginning of our agreement to sell your home, I will provide you with an in-depth comparative market analysis discussing how your home stands in the market with regards to both pricing and current inventory. Since we cannot predict the future market I continue to research properties both coming onto the market and those going off (including pending, contingent and closed properties).
The negotiation process deals with much the same issues for both buyers and sellers. I will help you to objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections, and financing -- a lot of possible pitfalls. I will help write a legally binding, win-win agreement that will be more likely to make it through the process.
Most transactions involve a large amount of negotiation between buying and selling parties from initial offer to signed contract. Buyers will typically submit an offer which will serve as your "starting point" in the negotiation. It is incredibly important to at least consider every offer that comes in on your property as with the right negotiation, even "low ball" offers can turn into acceptable ones. I will provide objectivity, experience, and counsel you every step of the way through closing.
Between the initial sales agreement and closing (or settlement), questions often times arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. I am often times the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).
An overview of the most common elements of negotiation are:
1. Price - My knowledge of the current market is incredibly important in helping you negotiate this element of the sale. By selecting and countering with specific comparable properties we are able to state our case for our asking price. I will also assist you in considering the time value of money in your decision, (will a higher offer offset potential additional carrying costs).
2. Mortgage Contingency - Most buyers in the market today purchase a home subject to obtaining a mortgage. The terms of this mortgage and a timeframe for securing financing must be stated in the contract before we consider negotiations. I will make sure that we are comfortable with the terms and the buyer's ability to obtain a mortgage before proceeding. If a buyer cannot obtain a mortgage the contract will be void.
3. Home Inspection - Almost all buyers will choose to conduct an inspection of your property by a licensed home inspector to identify potential structural or material problems. If the inspector uncovers any issues, we must be ready to address these concerns and negotiate what items will be addressed, by whom, and who will be responsible for them.
4. Closing Date - This is the date when the property will exchange ownership and usually the date where the seller must vacate the premises. I will work hard to find a mutually agreed upon closing date and insert into the contract any special needs that you as the seller may have when closing.