At Realty One Group Performance, we are dedicated to delivering exceptional results that not only meet but also exceed your expectations. When it comes to selling your home, our approach is centered on three key pillars:
- Maximizing Your Net Profit
- Controlling The Process
- Transparent and Effective Communication
Maximizing Net Profit
We aim to maximize our clients’ net profits. To accomplish this, we focus on preparing the home for sale. We aim to list the home at an appropriate price and negotiate advantageous terms. While the focus is primarily on the home’s sales price, we understand that preparing the home for sale can have the biggest impact on a homeowner’s net profit. We take the following actions to help prepare the home for sale:
- Walk through the home and view it from a prospective homebuyer’s perspective. This allows us to identify minor inconsistencies that may turn off potential buyers. For instance, mismatched appliances or old white appliances can make a kitchen look outdated. Buying used appliances from discount stores and properly cleaning them can remedy this.
- We also look for dirty door frames, baseboards, and light fixtures. We also check for blown light bulbs, unclean drapes and shower curtains, and unclean grout in bathrooms.
- We recommend ways to improve the brightness of a room. This could include removing curtains, changing light bulbs, and painting with a neutral color.
- We recommend ways to declutter the house to make it appealing to the next homeowner.
- We recommend wiping down the HVAC system, the hot water heater, and cleaning the HVAC room. If necessary, service the HVAC system prior to listing the home for sale.
- Address all mold and mildew-prone areas. Use a dehumidifier in the basement to remove excess moisture from the air and eliminate odor. If necessary, treat pests.
- Fix damaged screens on doors and windows. Fix loose and damaged door handles, lubricate the hinges, and adjust the door as needed.
- We recommend having the house checked by a licensed home inspector. We will review the inspection report together and determine the most cost-effective means to remedy deficiencies. Inspecting the home before listing it for sale gives the seller leverage to control repair costs. Often, the owner or a skilled handyman can handle most of the recommended repairs. For items that require a licensed technician, the seller has time to obtain quotes and negotiate a favorable price. If the buyer finds discrepancies during their home inspection, they will require a licensed contract to perform all tasks. This could cost the seller thousands of dollars.
- Listing the home at the right price is another critical factor. To determine the appropriate price for the home, we use information similar to that a home appraiser would use. The goal is to have the home under contract within the first 3 weeks on the market. A home that is appealing, priced right, and aggressively marketed should be under contract within 3 weeks in most areas of the DMV. Price reductions and extended days on the market weaken the seller’s negotiation posture. Multiple offers within the first three weeks on the market usually result in a higher sales price and better terms for the seller.
- Negotiating the terms of the contract is critical. Selling the home for thousands above the list price looks great, but it does not mean anything if the seller agrees to give 5% seller assistance (money to cover buyer closing costs), offer a home warranty, and agree to extensive repairs on the Property Inspection Notice (a list of items to repair based on the home inspection report). We use our experience, knowledge of the market, and negotiation skills to provide guidance to our sellers. The seller is always the decision-maker.
Controlling the Process
During a real estate sale, there are several moving parts, and several people are involved in the sale process. We collaborate with the seller to manage the controllable aspects and ensure optimal execution of the transaction.
Things we’re focused on include:
- Does the seller need to sell their current home before buying a new one? If yes, can we use a bridge loan to remove this contingency and put the seller in a better negotiation position as they shop for their next home?
- The seller will never be homeless. We include contingencies to prevent the seller from leaving their current home before finding a new one. This includes negotiating to have the home under contract with a buyer, but settlement dates are 60 days instead of the traditional 30 days. This gives the seller leverage to go and find their next home.
- Sometimes it’s necessary to negotiate a post-sale agreement that enables the seller to sell their home but remain in it for a set period of time as a “tenant” for free or a reasonable daily fee.
- If the seller is out of state, we coordinate with contractors and other service providers. We oversee all repairs, landscaping, home cleaning, furniture removal, and handling of all the things a typical homeowner does during the sales process.
- Showing the property to as many qualified buyers as possible usually increases the chance of the home selling quickly and at favorable terms and prices. We work with the seller to coordinate open houses, prepare for showings, and make the home available for tours without severely impacting the seller’s quality of life.
Communication
We only work with clients who are willing to communicate effectively. From the beginning, we ask questions to understand the seller’s fears, concerns, and motivations. We explain the sales process and work with the seller(s) to find solutions.
There are at least six people involved in the sale of a home, and a lack of communication can be costly and stressful. We track deadlines, follow up with lenders, appraisers, contractors, and the title company frequently, and update the seller at least twice per week. We believe the client should never have to contact us for an update. By focusing on maximizing net profit, controlling the process, and maintaining effective communication, we provide our clients with a seamless and successful home-selling experience.