VH1 Home Selling Guide

Find the RIGHT BUYER!
MARKET ANALYSIS

Selling price is based on the highest price the market will bear. To assist you in determining the correct asking price, VH1 Realty will provide you with a Comprehensive Market Analysis (CMA) of comparable properties recently offered for sale in your area. This analysis is based strictly on the current market activity of homes that can be considered similar to yours. This CMA is divided into four categories:

  • Similar properties currently listed: by looking at current listings, we can see realistic options for serious buyers. However, remember that these are the asking prices only and until sold have not been realized as a fair market value. By examining the number of days on the market, we can determine if the properties are priced too high.
  • Similar properties that have recently sold: by looking at similar properties recently sold, we can see what homeowners have actually received over the last few months. This is often times the acid test that is used by lending institutions to determine how much they will be willing to lend a buyer for your home.
  • Similar properties that have sales pending: by looking at similar properties that are pending (in escrow), we can see the price range homeowners are currently accepting, keeping in mind the actual sales price is not provided until after the close of escrow.
  • Similar properties that have expired: by looking at the homes that didn’t sell, we can accurately determine that price point considered by the active marketing as “too high.” Up to 35% of all properties put on the market never sell. The prices at which these properties expired will usually represent the “out of reach” price.
SELLING YOUR HOME — MY OBJECTIVES:
  • To get as many qualified buyers as possible to see your property until sold.
  • To communicate the results of our activities on a weekly basis.
  • To assist you in getting the highest possible dollar value for your property with the least amount of time and problems.
  • To consistently look for the best possible methods of exposing your property to potential buyers in the market.
  • To provide service, support and follow-up throughout the entire marketing and escrow periods in working with you for a smooth and successful transaction.
THE POWER OF PRICING
How much should you ask?

The number of prospective buyers who show interest in your property is directly related to how close to the current market value your property is priced. A home priced at market value will attract more buyers than a home priced above market value. A home priced competitively will attract a greater number of potential buyers and increase the chance of a quick sale. If a property is unrealistically priced, no reasonable amount of time on the market will produce a sale. By the time an overpriced property is finally reduced to market value it may be too “aged” for buyers to offer close to full price.

Your home is worth what a qualified buyer is willing to pay. Dangers of overpricing include:
  • Losing the initial impact derived when a home first comes on the market
  • Fewer showings
  • No offers
  • Your property will help sell other properties
  • Less of a chance of selling your home close to your asking price.
What will over-pricing do?
  • Reduce sales agent activity
  • Loose interested buyers
  • Eliminate offers
  • Help the competitions
  • Extend market time
  • Reduce advertising response
  • Attract the wrong prospects
  • Cause appraisal problems
True Market Value of Your Home is What a Buyer is Willing to Pay
  • Based on today’s market
  • Based on today’s competition
  • Based on today’s financing
  • Based on today’s economic condition
  • Based on buyer’s perception of condition
  • Based on location
  • Based on normal marketing time
MY PLAN OF ACTION IN MARKETING AND SELLING YOUR HOME
  • Accurate Evaluation. I will assist you in determining the correct asking price and providing you with a CMA of comparable properties sold and offered for sale in your area.
  • Professional Advice. I will advise you of any necessary repairs and how you may best prepare your home for showing. You will be kept up to date on the state of the market, the sale of similar properties, and any other factors, which may affect the progress of the sale.
  • Promotion of Your Home.
  • I will suggest and advise you as to any changes you might want to make in your property.
  • I will submit your home to the Multiple Listing Service (MLS), a cooperative network of all real estate agents who are working together to show and sell your property.
  • I will produce a color flyer of the property highlighting qualities, amenities, and incentives. The flyers will be placed in the home and sent to real estate agents in my personal referral network.
  • I will distribute information regarding your property to potential buyers in my data base.
  • I will conduct an aggressive “Just Listed” campaign focused on finding a qualified buyer for your home.
  • I will hold Open Houses when possible.
  • Signage. Additional exposure will be provided through a professional sign and lock box placed on the property.
  • Advertising. Your home will be advertised through all the media sources including the MLS, VH1 Website, email flyers and signs.
  • Progress Report. I will provide you with a bi-weekly analysis of the current market activity in your area. I will follow 8up with feedback from all agents who show your property and stay personally involved with the sales effort. Upon the sale of your property, I will keep you informed of the buyer’s progress in qualifying for a loan and any other escrow contingencies throughout the close of escrow.
  • Representation. I will represent you upon the presentation of all contracts to offer and assist in negotiating the best possible price and terms for you. Upon acceptance, we will provide the escrow officer with the appropriate information required to open escrow. I will provide the appraiser with comparable sales, assist in all inspections and process all paperwork required to close the transaction.
HELPFUL HINTS

With buyers, FIRST IMPRESSIONS count. Here are some suggestions that will help enhance your chances of finding that RIGHT BUYER.

Curb Appeal
The front door greets the prospective buyer. Make sure it is freshly painted and hardware is shined and cleaned. The lawn should be cut and neatly trimmed at all times. Garden planters and flowerbeds should have a much color as possible. Invest in flowers and bring your garden alive. Remove any debris, toys, or lawn equipment.

Clean and Clutter Free
Make your home bright for the prospective buyer. Remove all clutter and excess furniture. Start boxing your belongings for your move. Remember, the less clutter in your home, the larger it will appear. Shampoo and/or replace carpets where needed, clean windows and screens, and shine appliances. Clean floors, sinks, bathtubs, showers and countertops. Make closets neat and tidy.

Repairs Make a Difference
Make sure all dripping faucets are fixed. Repair torn screens or broken windows. Touch up chipped and worn paint, repair cracked plaster, oil squeaky doors, tighten doorknobs, and replace or repair damaged hardware. Replace burnt out light bulbs.

The Buying Atmosphere
Be absent during showings – let the agent do the selling. Open window coverings and let all the natural light in. Turn on lights, play quiet background music, and apply room fresheners. Keep pets outdoors.

SHOULD YOU SELL BY OWNER OR DO YOU NEED AN AGENT? THESE ARE THE QUESTIONS TO ASK YOURSELF
  • What is the exact value of my home in today’s market
  • How long will it take to sell?
  • Should I advertise? Where, when, and how much will it cost?
  • Am I prepared to be home at all times to respond to inquiries?
  • Do I mind showing my house at all hours; with and without appointments?
  • Do I mind being alone in the house with a complete stranger?
  • How do I protect my family from undesirable callers?
  • Can I identify the “browsers” from the qualified buyers?
  • Can I help a buyer obtain financing?
  • Am I impartial enough to negotiate realistically?
  • Do I understand seller financing, contingencies and other variables?
  • Would I know how to go about negotiating a successful sale?
  • Do I understand the requirements of California’s seller disclosure law?
  • Do I understand all aspects of the sale including title insurance, legal descriptions, termite inspections, home inspections, home warranty, tax declarations, easement, liens, trust deeds, etc?
  • Am I prepared to handle appraisal problems, buyer’s request for repairs, the final walk-through or settle possible disputes prior to the close of escrow?

OR…WOULD I PREFER TO SAY, “PLEASE CALL MY AGENT?”

While we attempt to keep listings up to date, property status and availability may change at any time.