Plan of Action for Sellers

Plan of Action for Sellers

Plan of Action for Sellers

Know Why You are Selling

If you know exactly why you are selling, then it is easier for you to set the right plan of action to get what it is that you want.

If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.

It’s always good to know how low you will go, in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously and take into consideration the terms of each offer, sometimes, if you know the bottom line and are strict about it, you can save yourself time.

Once you know what your limits and reasons are, discuss them with your agent so that they can help you set your goals realistically. If you decide to list your home on your own, make sure you do research on the current market, and you get the proper advice you need in terms of legal issues, etc. The key is to be realistic and to know what your goals are so that they can be met.

Finding the Right Agent

Not all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. He/she should know the market and provide information on past sales, current listings, his or her marketing plan, and at least 4 solid references. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs.

Try to go with a local agent. They can better serve your needs; they are familiar with what the local market condition is, the local prices are, and what’s hot or not in your community.

Have a Plan of Action

  1. Analyze why you are selling – If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.
  2. Prepare your home for the buyer – Maximize the strengths of your property and fix up it’s weaknesses. You want the buyer to walk away from your home with a lasting good impression.
     
  3. Find a good real estate agent that understands your needs – Make sure that your agent is loyal to you, and can negotiate to help you achieve your goals. In addition, they should be assertive and honest with both you and the buyer.
  4. Be prepared for negotiation – Learn and understand your buyer’s situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through.
  5. Negotiate for the best price and the best terms – Learn how to counter offer to get more from every offer.
  6. Make sure the contract is complete – Be honest with your disclosures; you do not want to lose the deal because you were lying or diminishing your home’s defects. Insist the buyers get a professional inspection. This will protect both you and the buyer

Insist on a Home Inspection

A professional home inspection protects both you and the buyer. It allows both you and the buyer the opportunity to learn about the property’s defects.

A home inspection usually covers the following:

  • Plumbing conditions – if there is leakage or clogging
  • Roofing conditions – the extent of deterioration, if there is leakage
  • Electrical conditions – if there are inadequate circuits or potential fire hazards
  • Structural problems – if there are problems with the underlying foundation of your home

As a seller, the home inspection reports protect you because it establishes the actual condition of the property at the time of sale. 

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