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Monday, May 12, 2014

Home Seller Tips: Understanding the process from "For Sale" to "Sold"

Thinking about selling your Florida home?   Where do you start? What do you need to understand about the home selling process?

The below list is not all inclusive but it is a good place to start.  The greatest resource a seller can have when selling their home is a qualified, knowledgeable local real estate agent. 
  1. Understand your market realities.  Your real estate agent should have provided you with the comparable active listings as well as the recently sold listings.  Your probable selling price will be somewhere in that range although maybe slightly higher in an improving market like the Brevard County, Florida market.
  2. Understand the Three Ps of selling your home.  Simply put these "Ps" include pricing, promoting, and presenting.  Two of these three directly involve you, the seller.
  3. Understand who your most likely buyer will be.  As a seller you understand your neighborhood including schools, shopping, traffic, commute times, amenities.  You know the qualities that made you originally purchase.  You know your neighbors.  You probably have a good idea of who your buyer will be.
  4. Understand your real estate agent's marketing plan.  Your agent should also have a good idea of who your target buyer pool is and should have a marketing plan that focuses on getting the information to the real prospect population.  It is not necessary to know the details but you should have a general idea of the plan (Internet, open house, print advertising, broker opens, direct mail, etc.).  By the way, your agent's experience with properties like you will dictate the plan.  Not all promotion methods work for all properties.
  5. Understand the process of selling your Brevard County, Florida home.  Selling a home is not something folks do very often so the process from "For Sale" to "Sold" may seem drawn out at times.  Things like offers, negotiations, contingencies, inspections, appraisals, etc. can seem confusing at times.
  6. Understand the importance of communication.  Keeping the lines of communication open throughout the process is vital.   Sellers your real estate agent works for you.  If you have a question or issue, call them.  Communication is vital during the home selling process.

Related articles:

What your listing price should reflect.
Pricing your home to sell in a rising market.
What is a valid comparable?
Ten Common Sense Rules for Buyers and Sellers
Before you List Your Home For Sale, Do This!

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