Market Analysis Explanation

 

 

The correct selling price of a home is the highest price the market will bear.  To assist you in determining the correct asking price we have provided you with a comprehensive market analysis of comparable properties that have been recently offered for sale in your neighborhood.

 

This analysis is based strictly on homes that can be considered similar to yours, and has been specially prepared for you over the last few days.

 

1.       Similar properties that are currently listed

2.       Similar properties that have recently sold

 

By carefully studying the comparable property locations, features, and the terms under which they are offered, we can develop a clear picture of the potential market for your property.

 

By looking at the properties currently listed, we can see exactly what alternatives a serious buyer has to choose from.  We can be certain that we are not under pricing the property.

 

By looking at similar properties recently sold, we can see what homeowners have actually received over the last few months.  This is the acid test that is used by lending institutions to determine how much they will be willing to lend a buyer for your home.

 

While we naturally want top market value for the home, we can agree that there’s a point where the price would be too high.  By looking at homes that didn’t sell, we can accurately determine that price point and be careful not to get too close to it.  By doing our homework diligently, we can get maximum dollars in a reasonably short period of time.

 


 

OUR COMMITMENT TO YOU

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1) ACCURATE EVALUATION

The correct selling price of a home is the highest price that the market will bear.  To assist you in determining the correct asking price we provide you with a comprehensive market analysis of comparable properties sold and offered for sale in your neighborhood.

 

2) PROFESSIONAL ADVICE

We will advise you of any necessary repair 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.

 

3) PROMOTION OF YOUR HOME TO OTHER REALTORS

The major selling points of your home will be distributed to other real estate firms throughout the community.

 

4) SIGNAGE

The highly respected Regal Realtors advertises your property 24 hours a day.

 

5) NOTIFY PURCHASERS

We will use our computer system to identify people who have been looking for homes in your neighborhood.  They will be contacted and given the details of your property.

 

6) OPEN HOUSES

If appropriate, open houses will be arranged and held during reasonable hours.

 

7) ADVERTISING

We will advertise your home in appropriate publications and communicate our results to you.

 

8) PROGRESS REPORT

Every step in the sales effort will be documented.  Our Progress Report will keep you up to date.

 

9)  PRE-APPROVED MORTGAGES AND FINANCING GUIDANCE

We offer pre-approved mortgages which encourage buyers by letting them know the mortgage potential in advance.  Regal Realtors will provide professional financing guidance to both the buyer and seller.   

 


 

 

MARKETING PLAN

 

We are committed to offer the highest standards of professional service to all our customers.  To assure you that your property is marketed to it’s fullest potential and to obtain the highest possible market value, the following will be completed.

 

Prepare CMA to establish fair market value

Prepare and sign listing contract

Send listing contract to MLS board

Place ‘For Sale’ sign on property

Place lock box on property, if needed

Schedule property for MLS tour

Mail ‘Just Listed’ flyers to neighborhood

Phone all potential buyers with details of listing

Hold open houses

Mail weekly progress reports (if home has been shown)

Review marketing activities with owner

Pre-qualify potential buyers

Present and discuss all offers on property with owner

Negotiate the transaction with other agent

Finalize the sales contract

Confirm that all contingencies on sales contract are complete

Finalize the closing

Arrange for relocation agent, if required

 


 

PREMARKETING CHECKLIST

 

To increase the “showability” of your home.  Please review each item and prepare your home accordingly.  The more effort you put into these items the better the results in terms of price and selling time.

 

EXTERIOR:

________                Clean all windows inside and out, including glass cabinet doors and mirrors.

________                Cut back any shrubbery growth that blocks natural light.

________                Weed and feed lawn.

________                Add seasonal flowers to the front and patio areas of the home.

________                Add “welcoming” touches: potted plants, dried flowers, etc.

________                Replace welcome mat.

________                Pools and spa need sparkling clear water.

 

BRIGHTEN YOUR HOME:

________                Replace all burned out light bulbs with maximum sized bulbs.

________                Wash all light globes.  (Don’t forget the exterior fixtures).

________                Polish all brass or chrome hardware, lighting, and plumbing fixtures.

 

FRESHEN YOUR HOME:

________             Keep temperatures comfortable at all times.  Buyers want to feel cool in the summer and warm in the winter.  Have units serviced.

________             Change the air conditioning filters regularly and keep the fan turned on all the time.

                             (Spray a little air freshener on the filter when you change it).

________             Replace worn out toilet seats and shower curtains.

________             Remove all mildew from ceramic tile in tubs and showers.

________             Use room air fresheners through out, (not heavy oil sprays).

________             Be sure all garbage containers are outside and any inside garbage locations are sealed and no odors are present.

________             Be sure no pet odors linger, their food dishes are clean and have fresh water.

________             Clean ashes out of fireplaces and keep new firewood in them.

________             Have chimney sweep clean chimney and check condition.

________             Pull out refrigerator and clean under and behind it.

________             Pull out washer and dryer and clean under and behind them.

 

CLEANLINESS OF YOUR HOME:

________             All surfaces that can be seen, touched or smelled should be cleaned and/or polished.

________             If you are not repainting your home, be sure all woodwork is spotless, use sprays, cleaners with lemon scent to wash away grease, oils and spots (be sure to include the baseboards).

________             Clean the vent-a-hood filter.

________             Pay particular attention to the front entry and the yard.

________             Don’t forget the garage, storage building, the attic or mechanical closets.

________             Remove oil stains from driveway and garage floor.

________             If you are not replacing your carpet, have them professionally shampooed to remove all stains and to revitalize matted areas.

________             Kitchens and bathrooms need not only be very clean but appear sanitized.  Extra effort is required in both of these areas.

________             Clean all window blinds, shades and draperies.

 


 

________             Each room should be free of unnecessary furniture.  Do not store in the garage, rent a mini-warehouse to use as storage.

________             All closets should contain only the items they were designed to hold and they need to be neatly arranged to appear larger.  Include cabinets, pantry, linen closets and utility rooms.

________             Consider installing new shelf paper in cabinets.

________             Pay attention to shelves and the tops of mantles and other furniture where knickknacks are displayed.

________             Straighten desk tops, computer and audio/video areas for neatness.

________             Pets-barking dogs make prospects feel uncomfortable.  It is important that they are out of the way and prospects feel free to view all areas of your home.

 

IF UPDATING, CONSIDER THIS:

 

Your home is decorated to suit your specific tastes, and because not all tastes are alike, consideration must

be given to redecorating in order to appeal to the largest number of potential Buyers.  This is even more

 important if it has been more than 5 years since you redecorated, as styles and colors that

 were popular 5 years ago may be outdated today.

 

Appraised values can vary according to how current the decorating is and as stated earlier, the better a house looks the more often Agents will show it.

 

________             REPAINTING – using whites and off whites not only gets rid of the outdated decorator colors, it brightens rooms, makes them look larger and cleaner.  Exterior painting will give a fresh new appearance.

________             FLOORS – nothing makes a home more appealing than new carpet and vinyl floors sporting the latest in colors and styles.  Consider replacements if they are showing their age in terms of wear and style.

________             WALLPAPER – replace any wallpaper that is outdated, faded or worn.

________             KITCHEN – the most important room to a lot of Buyers adds to the value if it has new appliances, counter tops, and plumbing fixtures.  Consider what can be upgraded.

________             BATHROOMS – sanitary is the key word here.  Consider resurfacing tubs, regrouting ceramic tile surfaces, replacing vanity tops and plumbing fixtures.

 

IN GOOD WORKING ORDER:

Everything in your home must be performing the task for which it was intended.  Any Buyer will hire an

Independent licensed inspector to check all mechanical equipment and systems: the roof, structural framing

and foundation and require that all deficiencies be corrected.  It will be to your advantage to make the

inspection yourself and repair any problems that exist.  This will improve the showability of your home and

 leave prospective Buyers with the knowledge that you have taken good care of your home.

 


 

BEFORE EVERY SHOWING:

 

1.                   Pick up whatever is out of place in your house.

2.                   Close garage doors.

3.                   Park cars on street or around corner.

4.                   Clean off counter tops.

5.                   Turn on all lights.

6.                   Open shades and curtains.

7.                   Put soft music on the stereo.

8.                   Check thermostat setting.

 

 

DISPLAY THE FOLLOWING INFORMAITON:

 

1.                   Paid utility bills.

2.                   Any Homeowners Association information.

3.                   Floorplan (if available).

4.                   List of upgrades you’ve put in the house.

5.                   Engineering reports (if available).

6.                   Service reports for heating, A/C, hot water heater and appliances.

7.                   Information about pest control services.

8.                   Warranty information on appliances.

9.                   Map and/or list of community features and points of interest.

 

 

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