There is a buyer for every house, sometimes even more than one buyer depending on the market, the age and style of the home, and of course the price. The point is that homes sell over and over. What can agents do to facilitate this recycling of homes to limit the lulls and time consuming steps in the sales process? Preparation is the key to decreasing interruptions in the journey. Time management, pre-qualification for financing, a few helpful checklists, and sharing your knowledge and experience will guide home buyers and sellers through every step along the way.
Selling a home is a huge undertaking. There are several steps to take to ensure the process has limited interruptions. The first step is to prepare your clients for the big tidy up. Before they think about selling their house, they’ll need to ensure that it is presentable and appealing to prospective buyers. High quality photos, floor plans, and measurements will need to be taken and 3D tour data will need to be shot, all in preparation for showing the property. Provide your clients with a checklist to help them sift through each room, including the bathrooms, and storage spaces. The goal is to remove as many items as possible from the potential buyers’ line of vision. Ensuring that each space looks uncluttered and roomy is essential when presenting the home.
Making the home appealing to a possible new owner means they need to be able to visualize their personal items in the space. By clearing away your home sellers’ collectibles, personal photos, and large furniture pieces, the space is visually more welcoming to the camera and ultimately the buyer. Keeping the space clean will be a lot easier with fewer obstacles to maneuver around when preparing for the 3D tour shoot. Don’t forget to tidy up the front and back yards because first impressions are often the driving factor leading interested home buyers to have a look inside.
Cleaning up ahead of the photo shoot and scan to determine dimensions for measurements will ensure that photographer isn’t delayed in their photo shoot and that the visuals are clutter-free, engaging, and show the property off in it’s best light. Those dynamic visuals will go one step further in preventing unnecessary delays in the selling process by allowing online home shoppers to visually inspect the property and use the room dimensions and square footage calculations to determine if they are a good match. They are pre-qualifying themselves for the sale and not wasting the home-owners time with unfruitful in-person visits to satisfy their curiosity or to discover that there is hardwood when they prefer carpet! Here are some good tips that your real estate photographer should be following to get the best possible 3D tour to sell the property!
Once the home has been prepared placed on the market, your home sellers’ job is complete. It’s now up to you, the realtor, to effectively market home to the public. Drawing on your experience, you need to explain to your clients how you will pre-qualify potential buyers for their home. The initial screening process begins with understanding the needs, wants, and financial position of the potential buyer.
Financing for a new home requires a buyer to be qualified for mortgage commitments and should be done in advance of any showing. The buyer must meet the required criteria from their lender in order to obtain funding for a purchase. Once this step is complete then the transition from viewing a home to a written purchase contract will run smoothly. Though a financing condition is almost always placed in a contract, with mortgage pre-qualification, the process is less likely to run into interruptions.
With the financial needs being met, you can then facilitate a home inspection for the property to help the buyer better understand any potential issues regarding structure, electrical, plumbing, environmental, and mechanical areas. It is essential to have a property inspection for the buyer’s peace of mind, but it is just as important for insurance purposes for their new home. Insurance companies need to know that the property has been maintained which limits liability issues. A major concern in recent years is the use of asbestos, which can be hazardous to your health, and poly-B plumbing fittings that have caused sudden leaks resulting in water damage to the property. Having a clean bill of health for the property will speed up the next steps in preparing for the change of ownership.
For a smooth transition from the purchase contract – to a home inspection – to possession day, it is a good idea to create a final home sellers’ checklist of “Things To Do”. Before you complete the sale of their home, you will need to share the property report that indicates the home is compliant with municipal bylaws. You should know about any possible penalties with regard to moving, discharging, or changing the home sellers’ current financing. Financial institutions often charge large interest penalties when changing the parameters of existing mortgages. It is better to know ahead of time rather than be shocked when they have to come up with thousands of extra dollars to discharge their mortgage.
Whether your clients are the seller or the buyer, as a realtor, you’ll need to make sure to clean up the loose ends to make it a seamless and stress-free transaction. Items that need attention by the home sellers are; notifying all the utility services of a new owner, redirecting their mail, cancelling or requesting home insurance, setting up security systems, scheduling a mover, checking schools, transportation routes, and residential parking permits. You’ll also need to remind them to engage with a lawyer or paralegal to help with the preparation of legal documents and registration of the property at the Land Titles Registry.
Preparation is key to decreasing interruptions in the sales process. Buying or Selling a property doesn’t have to be scary or confusing. Be sure to keep the lines of communication open, provide timely advice and helpful checklists, and the transition to or from a home will be as easy for your clients as turning the key.