Sellers
A MARKET ANALYSIS
Setting the right price is an important first step in the process of selling a home. Is it necessary to spend $350 to $550 for a professional appraisal of your property before placing your home on the market?
A professional appraiser’s opinion of a property’s market value is based on the recent sales of similar homes in the neighborhood, and on the square footage and condition of the property. Different appraisers might come up with different figures. Even if all of them agreed on a value, there is no guarantee that you would receive that amount for your property.
An alternative to a professional appraisal is to ask a professional real estate agent for a written market analysis of your property. This analysis will include information about recent home sales in your neighborhood, as well as how those homes compare to yours. Real estate agents may provide this service with no charge or obligation. If you are still unsure of the value of your home, you may wish to pay for an appraisal.
Marketing Strategies With Proven Results
- Install lock box at a convenient location for agents to use to gain entry to your property. Lock boxes are secure and only realtors can use them.
- Install a sign and/or arrows to direct agents and public to the property.
- Place listing into the Nevada County Multiple Listing Service (MLS) for maximum exposure.
- Place listing into the Placer County Multiple Listing Service “Metrolist,” for more exposure to Northern California agents.
- Listings will be advertised with a custom 360 degree virtual tour & slide shows on the cherylr.com, realtor.com and zillow.com.
- Compose professional color brochures and/or flyers of the property and make them available for distribution.
- Send ‘Just Listed’ and “Just Sold’ postcards to neighboring areas.
- Advertise in multiple publications, including The Unions Real Estate Showcase.
- Advertise via the internet on several sites, including cherylr.com, Homes.com, Realtor.com, Trulia, Zillow.com, redfin.com and more - for maximum exposure. 90% of buyers shop on-line prior to contacting an agent.
- Participate in MLS tour, hosted with pies or another delectable dessert, or lunch.
- Ensure open communication between seller(s) and agent, and/or the agent’s assistant during the listing and escrow period.
- Negotiate all offers in a manner that honors the real estate professional’s fiduciary responsibility to seller.
- Discuss general public open houses if agent and seller agree there would be some benefit for doing so.
- Send periodic updates showing advertising activity and current market conditions.
LENDER APPRAISAL
Many sellers think that the price of their home is determined solely by what they are willing to accept and what the buyer is willing to pay. However, there is one more variable that can affect the sale of a home assuming that a bank loan is involved — the lender’s appraisal.
To protect the interest of their investors, the buyer’s mortgage lender hires a licensed appraiser to give an independent, objective opinion of what the property is worth. The appraiser compares the house with similar homes in the neighborhood that have recently sold. Square footage, amenities and the condition of the home are taken into account. Renovations and home improvements made by the seller usually add value to the home, while defects such as needed repairs or code violations decrease the property’s value. The seller’s real estate agent can provide the appraiser with up-to-date information about neighboring homes that have sold to support the seller’s asking price.