Selling real estate is a major and complex undertaking. It involves attention to many details and a lot of continuous effort, all coming together at several critical points. Outlined below is a walk through the process with the goal of both clarifying the elements and providing a reference of them.
I offer careful, considered, professional advice regarding the pricing and marketing of your property. My goal is to help you sell it at the highest price in the shortest period of time possible. My pricing recommendation is based upon a “Competitive Market Analysis” of your home, general current market statistics for homes in similar neighborhoods, current absorption rates of comparable properties in similar neighborhoods and overall excellent market knowledge. Your answers to questions I may ask you will also factor in to setting an optimum marketing price.
Are you moving out of the Washington, D.C. Metro area? If so, I can help you sell your home. Relocating is a major event that can often be difficult and stressful. I will do my best to make the sale of your home as easy and carefree as possible, while making sure you will sell your home for as much as possible.
If you are unfamiliar with the area you are relocating to, I can also assist you with finding a top-notch realtor near where you are moving. I am associated with the RELO relocation network, the largest real estate relocation network in the world. Through this network, I can find you a trusted and experienced real estate professional almost anywhere in the world. The RELO affiliate network does more than 310 billion in production volume, and consists of 100,000 agents in 4,500 offices nationally. If you are thinking of buying or selling a home somewhere other than the Washington, D.C. Metro area but need a recommendation, feel free to give me a call. I can help you find a realtor wherever you are. Call or email me today and we can get started.
It is extremely important that you share with me information about your situation. For example, if you are relocating and a company buyout might take place – what are the terms of that? Are there any covenants or easements on the property that you are aware of? Do you have a copy of the survey? Are there any survey issues – fences outside property lines, buildings over building restriction lines, driveways crossing property lines, etc.? Has anything changed on the property since you acquired it, perhaps a new patio or an addition? Are you aware of any material defects to the property such as a leaking basement or a leaking roof? Is the deck about to fall off? Do you have actual knowledge of lead paint in the house? Do you have actual knowledge about asbestos in the house? Are you aware of any termite damage or infestation? Are all parties on the deed present and in agreement about selling the property? What is your motivation and how quickly do you want the property sold? Are you in a position to put some time, effort and money into getting the house into prime showing condition or do you need to sell “as is”? If you are not selling “as is,” then all the plumbing, electrical and mechanical systems need to be operating. Do you own the property outright or do you have a mortgage or perhaps an equity line of credit? Are there any other liens on the property, for example, a financed furnace or windows? What is the total indebtedness on the property? It is always easier to deal with issues when one is not under the gun. As your realtor, we will discuss all of these issues and more, and I will guide you through the often complex process of selling your home.
Suggestions on Preparing Your Home to Go on the Market
• We will discuss the pros and cons of making repairs versus not making them.
• We will discuss the standard inspections and what they involve.
• We will discuss the most effective ways of spending your fix-up dollars to get top dollar for your home.
• I will advise you regarding “staging “your property to maximize its good features (including de-cluttering, rearranging furniture to create a mood, professional cleaning, deodorizing (pet odors, diapers), spot painting or perhaps whole-house painting, yard work, etc.)
Your Responsibilities Before the Property Goes on the Market
Do everything possible to make your property sparkle:
• Dress it for success – “curb appeal” – the impression your home makes on someone driving by - brings people through the door. You rarely get a second chance at curb appeal.
• Try to view your home as a prospective buyer will, evaluate its strengths and weaknesses and then focus on emphasizing its strong points.
• In the warmer seasons, cut the grass regularly, keep flowerbeds weeded, mulched and watered. Plant seasonal flowers or place a couple of pots of flowering plants at the front door.
• In the fall and winter keep the yard raked and the walkways and driveway clear of ice, snow and debris.
• If you are going to be away at any time, make arrangements with someone to continue interior and exterior maintenance.
• Have your HVAC system serviced if necessary and change the filter.
• Collect appliance manuals and warranties to leave for the new owners.
• Get rid of or pack up items that you can live without while your home is being marketed. Less is always better with regard to personal possessions when you are selling property. A few carefully selected display pieces are better than a house full of them. Clutter can be very distracting to a buyer.
• Send the message that space is comfortable and ample with clean, organized closets, storage areas, and garage space.
• Tidy up bookcases and even put some books, games or toys away so that empty space exists.
• Put excess furniture and the boxes you have packed in storage (even if you have to rent storage space) so that rooms seem more spacious.
• Scrub the bathrooms and kitchen until they dazzle.
• Wash the windows and floors.
• Clean the carpet if necessary.
• Deodorize the house, particularly if you use strong seasonings in preparing meals or have had or have pets or someone in diapers.
• Repair leaky faucets, toilets, and hose bibs.
• Paint as necessary inside and out. However, if you do paint, keep the colors as neutral as possible.
• Remove worn, dated wallpaper and revitalize the room with a fresh coat of paint.
What I Will Do to Market Your Property:
• I will take photographs of the property for use on the brochure and in print advertising.
• I will prepare a fact sheet and marketing brochure and submit it to you for your review and comments.
• I will enter information about the property into the MRIS (Metropolitan Regional Information System) within twenty-four hours (24) of the execution of the listing agreement or as otherwise agreed, making information about your property instantly available to thousands of real estate agents.
• I will feature your property on both of my personal websites, here and at www.acavanagh.com, on the company's site www.wcanmiller.com and on the Christie's Great Estates site, as applicable.
• I will make sure that information about your home is available on the Internet through Realtor.Com for people locally, nationally and internationally who might be considering investment or relocation.
• Subject to our agreement I will make sure that our prestigious W.C. & A.N. Miller yard sign with applicable riders (my name rider, For Sale, Internet, Christies, etc.) is installed in your yard.
• With your permission I will install a lockbox on your door making your home easily accessible to Realtors showing homes to buyers.
• I will hold an open house for Miller agents only announced through Miller’s unique networked system of offices on the first Friday of the listing.
• I will include information about your property in our regular announcement of new listings at all Miller sales meetings on the first Tuesday following the new listing.
• I will hold a Brokers’ Open House for all real estate agents on the first Tuesday of the new listing announced through the MRIS open house listing system.
• I will hold Sunday Open Houses – subject to mutual agreement and a pre-arranged schedule. Please note that Open Houses can be an effective tool but they are just one of many tools and there are certain hazards associated with them. They are an opportunity for unqualified individuals, who might or might not be real buyers, to browse, sometimes through your possessions. Some sellers do not like them. I have sold a number of properties off of open houses but I do not think they are critical, but instead, very property dependent.
• I will do regular target telephone prospecting promoting your property and identifying new buyers.
• I will carefully craft “Washington Post “open house or “by appointment” ads to distinguish your property from the competition.
• I will follow-up with “Open House” visitors for feed back.
• I will qualify prospects with on-going interest and make arrangements for subsequent showings of the property to them.
• I will regularly network with other agents to be sure that your property receives maximum exposure.
• I will follow-up on a regular basis with agents who have shown the property.
• I will keep you updated with weekly progress reports.
• I will have a weekly discussion with you to reassess market position including evaluation of number of showings, number of offers received, recent sales in subject neighborhood, recent sales in comparable neighborhoods, fine tuning of marketing and pricing adjustments as necessary.
• I will hold a broker’s open house on the third or fourth Tuesday of the listing with a luncheon (subject to homeowner’s approval) if the property has not yet sold.
Your Responsibilities While the Property is On the Market
• You should make every effort to keep the house in optimal showing condition at all times. There is not always time to specifically prepare for a showing. So, please make beds first thing in the morning, put clothing away and tidy up the bathrooms and kitchen.
• You should adjust the sign riders as necessary (occasionally wind blows them down) or leave me a voice mail if they need adjusting and I will come take care of it.
• You should leave the house if possible when it is being shown. Walk the dog, go to the park, or do an errand. Clearly, it won’t always be possible to leave, but it does allow the buyer an opportunity to experience the house as his/her own.
• If you can’t leave the house when it is being shown, you should not get involved in conversations with the buyers or the agent about the property or why you’re moving, etc. Please refer questions to me.
• You should not permit purchasers unescorted by a Realtor (with a business card) into your home. If the buyers do not have an agent and want to see the house, have them call me and I will show it to them.
• You should make initial calls to moving companies. If you would like the names of some reliable moving companies I can provide several.
When We Receive a Purchase Offer
One day I will call you and say that an offer has been registered on your property. That means that a purchase offer has been written on your property (either by another agent or possibly by me) for a client, a customer or for him/herself. The next step is that we (all the owners and the two real estate agents) will meet either at your house or in my office as soon as possible. If other agents have been showing the house a lot, I will contact them to determine if their clients are interested in making an offer. If so, we might have a multiple contract presentation with all the agents representing all of the buyers present. We would meet them and “hear” their offers. An offer is the sum of all the parts and is not just the price. It is quite possible to receive an offer of a tremendous price from someone who will never be able to perform (they might have a difficult property to sell, or lack the financial wherewithal, etc.). Therefore, please try to hear the agent through and jot down questions as they go along. At the end of the presentation we can ask questions and then confer privately after the agent has gone into another room (please do your best not to show your hand). With multiple offers, that scenario continues until all offers have been presented. After a private summary conference you will select the offer you want to work with, the “primary” contract and perhaps a “back-up” contract.
However, there might be some terms of the offer you select to work with that need to be modified, for example, the proposed settlement date, or the length of the financing contingency, or the price, etc. If you accept all terms as written, then you have a ratified contract as soon as the purchaser receives notice of your acceptance of it and a copy of the contract. However, if you make any changes to the purchaser’s offer you technically have rejected it although we refer to it as a “counter-offer” (an outright rejection would be referred to as a “rejection”). The changes in a counter-offer are made directly on the original offer by the “selling agent” and taken back to the purchaser for his/her initials or further changes. When all parties have agreed to, signed, and received copies of all changes, then you have a ratified contract and the clock starts ticking on the contingencies.
My Post Contract Ratification Responsibilities (Agent)
• I will make sure all parties have complete copies of the contract.
• I will provide you with a new seller net sheet based upon the actual contract terms.
• I will coordinate and communicate with all parties involved in the transaction up through the actual settlement to insure that settlement occurs in as smooth and timely a fashion as possible.
• I will provide you with the name of the settlement attorney selected by the buyer.
• I will monitor short and long-term contingencies.
• I will assist you in responding to the home-inspection contingency release.
• After the release of the short-term contingencies I will place an under contract rider on the sign.
• I will assist in the coordination of a mutually agreeable settlement/closing time. It is best if all principal parties can be at the closing, but it is not always possible. If a principal cannot be at the closing, then alternative arrangements (such as a specific power of attorney) must be made. Please provide as much advance notice as possible.
• If necessary, I will assist with the preparation and execution of any pre or post settlement occupancy agreements.
• I will assist you in identifying and purchasing a new home if you have not already done so.
• I will meet the appraiser and provide supporting comparable sales data if necessary.
• I will monitor arrangements for the termite inspection. The current resale contract used throughout the metropolitan area (Washington, D.C. and Maryland) calls for the seller of a property to have it treated if there is active infestation and to repair any existing damage from wood boring insects. This is relatively recent language and it is entirely possible that when you bought your home the governing language was very different. Specifically, it is possible that “cosmetic” non-structural termite damage existed when you purchased your home and was not repaired. It needs to be repaired now. If necessary, I will provide you with names of some termite repair and treatment companies.
• I will remove the lockbox after the appraiser has been in and the termite inspection has been done.
• If necessary, I will provide you with the names of contractors to assist with inspection repairs.
• I will track the progress of the purchaser’s loan application and keep you informed of its status.
• I will advise you when the loan has been approved.
• After the financing contingency has been released I will place a “Sold” rider on the sign
• I will confirm with you the settlement time and location.
• I will coordinate the time for the buyer’s pre-settlement walk through inspection, monitor the inspection and advise you immediately of any issues noted at walk through.
• I will attend the closing to insure that the terms of the contract are reflected on the settlement statement, to answer any questions you might have and to assist should there be any last minute issues (the goal, of course, is that there won’t be).
Your Post-Ratification Responsibilities
• You should not discuss the terms of the contract with neighbors, colleagues, etc. It’s amazing how rapidly information gets around and it can backfire.
• You should continue to keep the property looking its best. Certain types of short-term contingencies (home inspection, third party approval, master plan contingency, radon, lead, feasibility study, etc.) can result in the buyers’ canceling the contract. And, a little extra effort around the house on the day the appraiser is scheduled would be time well spent.
• You should stay on top of the contract dates. A real estate contract has some very specific dates that need to be met. I will remind you of them but it is very important not to miss any. For example, unless otherwise negotiated the settlement date is also the date when the purchaser has the right to use and possession of the property. So, the house should be empty and broom clean by the time you head off to settlement (and all repairs agreed to in the home inspection contingency should have been made by the time you go to settlement).
• You should firm-up moving plans.
• You should respond to short-term contingencies: the home inspection is typically the most significant. If you need estimates on repairs before you respond to a request, make arrangements right away. The clock is always ticking.
• You should collect keys from neighbors, house cleaners, kids, etc. All keys should be turned over to the buyers at settlement.
• You will possibly receive a letter of introduction from the settlement company (selected by the purchaser but representing the contract) that will be handling the closing. But, regardless of whether you receive a letter, please call the attorney who will be handling the case and introduce yourself. Make sure you understand what will be happening on “settlement day”. Discuss any special requirements: Power-of-Attorney, Original Death Certificates, Divorce Degrees, funds that need to be brought to settlement, etc.
• You should finalize your moving plans.
• You should put in address change orders for magazines and credit cards and send out notices to friends.
• You should schedule a transfer of billing on utilities and request final bills through the date of settlement. The buyer will also call the utility companies and none of the utilities will actually be cut off.
• You should call the telephone company and make arrangements for your new service (if applicable) and termination of existing service. The buyer cannot arrange new service until a termination order has been placed.
• If you have cable TV you should call the company and make arrangements for a final bill/transfer. The buyer cannot make arrangements for new service until a termination order has been placed.
If you’ve read all this, perhaps you feel as if you know more than enough about me and how I work. But, if you still have further questions about how I work, I will happily provide a list of references. Thank you for making the effort to read this. I look forward to the opportunity of working with you. It will be a privilege and a responsibility that I will take very seriously.
I’m Ready to Get to Work for You Now!
- NUMBER1EXPERT™ 
