The Listing Agent's Role in selling your California homeWritten by Phyllis Harb
The Listing Agent’s Role in Marketing Your Home Advertising to “Public” Every home seller likes to be assured that their listing agent and or their real estate company will run ads featuring their home. Newspaper ads range from color photo ads to lots of listings reflected on a page with primarily only copy. Classified ads featuring your home are another tool. Ads may also appear in local real estate magazines and on Internet (ideally on several sites). Of course, Realtors and their brokerages will run ads featuring your house, but not necessarily for reasons seller expects. The primary motivation for advertising is to make telephone ring. Advertising creates phone calls and some of those callers become clients of agents answering these calls. This builds up a pool of homebuyers looking for property in general. Multiply this by all agents and companies who also advertise homes, and there is a large pool of homebuyers in market at any given time – all of whom have contacted a Realtor. The agents representing those homebuyers know about your home once it is listed in Multiple Listing Service, has been on broker preview, and because your agent is also marketing directly to these agents. Through, Multiple Listing Service (MLS), agents match up their clients (computer prospecting), with available homes, one of which may be yours. Realtors then show selected homes to their clients, who ideally end up buying one. Although, ads do not typically sell your house directly, they create a pool of clients for Realtors; and one of these existing clients typically purchases your home. Behind “Advertising Scene” When an Agent or their brokerage, advertise homes they have for sale, there is more than one objective. Certainly, real estate office wants to generate phone calls and sell houses, but advertising also shows other homeowners how effectively they market their listings. This impresses not only seller, but also others who may be thinking of selling their home. The advertising brings in more listings, which generate more ad calls, which produces more buyers…. Cross selling is often how your property is sold; someone calls on one home and agent on line tells that buyer about yours. About 5% of time, you and your agent will get “lucky”; and someone calling on your house may actually end up buying it. Neighborhood Announcements When you first list your home many agents send "announcements" to all of other houses in your neighborhood. This is typically done in form of postcards, or letters. This too is has a double purpose: your neighbors might have friends who are looking to buy a house (but they probably would notice for sale sign, anyway) and of course this hopefully impresses other area homeowners that might be contemplating a sale.
| | When in Doubt California home sellers should make a complete disclosureWritten by Phyllis Harb
Property Condition - Seller’s What to Expect During Inspection Process The Transfer Disclosure Statement (T.D.S.) – Perhaps most important paper you will complete when selling your home Most sellers (other than institutional type) are required by law to disclose facts and defects, which materially affect value or desirability of their home. The Transfer Disclosure Statement (TDS) helps seller meet this requirement by providing a standardized format for most basic information. If seller does not fully disclose, buyer will be able to cancel escrow, or worse find out after escrow closes - Full disclosure can reduce or eliminate possibility of later legal action. Often, as part of “day to day” living in a home, certain items do not function properly, are overlooked and we just accept them. Some common problems: Does your doorbell work? Is clock on oven operating properly? Do all windows and doors open properly? Is there safety glass in shower & sliding glass doors? Are you aware of asbestos or lead based paint? How is your water pressure? Are any of your sprinklers broken? If you have a water softener is it owned or rented? Information about an alarm system should also be noted on T.D.S. Legally, you must also disclose any homeowner’s insurance claims made in last five years. When in doubt, disclose. Other than mandatory government retrofit (smoke detectors, water heater strapping, etc.), most sales in Los Angeles County are “as is”, subject to buyer’s approval of their inspection. There is no perfect house; problems disclosed to a buyer when a buyer is still excited about buying home are frequently easier for buyer to accept. Some Realtors, have buyer acknowledge receipt and approval of transfer disclosure at time of initial offer. The Physical Inspection In addition to your written disclosures, buyer is urged to contact a professional inspector for a more thorough evaluation of home. The inspector performs a visual examination of home and tests to see if all major systems in home are operating satisfactorily. The inspection is typically scheduled within ten to fourteen days after you and buyer have accepted terms of Real Estate Purchase Contract. A professional home inspection is an important line of defense for both buyer and seller of a home. It functions like a check-up from a doctor. If doctor suspects problems exist, he/she will send you to a specialist. A professional home inspector operates in much same way. When a problem exists with certain areas of home, inspector may recommend further evaluation by specialists, such as fireplace, seismic, etc.
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