The RE/MAX Walden Country Marketing Assistance Program 

Introduction

Welcome to the new challenge of selling your present home. You are embarking on an opportunity to merchandise what may be your major asset. When you succeed in finding a buyer, and you close the transaction, you will have accomplished a great deal for yourself, your family, and your future.

The time spent understanding what you'll be experiencing during the selling process can help you through the many details necessary to complete a successful sale; RE/MAX Walden Country is here to assist you.

We hope that you ask that RE/MAX Walden Country help you merchandise your home. We will be pleased and honored to work with you. This "Infolet" is a part of our consulting service… just a portion of our marketing package.

It is intended to help you market your home as quickly and efficiently as possible. It is an overview of some of the items you may have questions about, including preparing your house, finding a buyer, negotiating the contract and completing the closing.

You can be assured that we are here to help you with any questions you might have or concerns that may arise. You may simply call or E-mail us, for we are here to serve you. Our goal is to advise, counsel, and recommend …but the decisions will be yours.

Good Housekeeping and Repair

Before you put your home on the market--and preferably before you establish a price at which to market your home--you should consider getting the property in the best condition that money and time will permit. Nothing pays cash and time dividends to sellers quite like elbow grease. Good housekeeping, repairs, spaciousness, and pleasant aromas help bring top dollar faster. On the other hand the gremlins that hurt your home-selling efforts are dirt, lack of light and space, too much disrepair, and bad odors.

Don't rationalize that because some buyers may prefer a casual life-style they won't mind some clutter. Our experience shows that the poorest housekeeper can be the fussiest and most demanding buyer. Invest some time and effort to make your home shine. You know that you will be as critical on the next home you purchase. The buyer of your home will probably be critical too, and you don't want to take the chance of losing a buyer because of a poor showing. You can't be sure when the next buyer will come along.

The following checklist will help you pinpoint items around your house that may be the key to solidifying a buyer's interest. Most salable property usually reflects attention to each of the areas discussed. If time and money will not take care of all of the items addressed here, do the best you can. Call you RE/MAX Agent to discuss those things which might be most important for you to do.

Yard and Exterior Maintenance

The first thing any potential buyer will see when looking for a new house is, of course, the outside. The first impression on a buyer is made when the buyer looks at your home form the street. Try driving to your home as a buyer would. What do you see? What can you do?

Paint: Exterior painting can do so much to enhance the salability of a house. Before painting, properly prepare the surface by scraping or water-blasting any blistered or peeling paint, repair gutters and down spouts, and repair wood showing dry rot. Give special attention to wood, trim, gutters and railings. Paint the exterior a neutral color that will not clash with other houses in your neighborhood.

Front Entrance: Buyers will enter your house through the front door. Give special attention here. Paint the front door, if necessary, and make sure it opens and closes well. The woodwork around this area should also be freshly and neatly painted. Replace a doorbell that is broken or shows wear. Polish door brass. Replace or repair an unsightly mailbox. Put out a new or clean door mat. Weed and prune flower beds and, if summer, try to have some flowering plants out to greet the new buyers.

Landscape: Mow and trim the yard regularly. Keep it green with fertilizer. Remove dead plant or trees. Water regularly during the growing season.

Garage and Driveway: In addition to cleaning out the dirt, try to remove oil or grease spots on the concrete. The garage door should work well, opening and closing with little effort. If it binds up, lubricate it or have someone fix it. Automatic garage doors should be in working order, and remember to leave the opener transmitter for the new owner. Try to keep recreational vehicles out of sight as much as possible, behind a fence or in the garage. Old cars or motorcycles should be out of sight or stored away from the house if at all possible. Consider disposing for those items now that you know you will throw away later anyway. Remember, you want the buyer to see the garage has lots of room, just like you saw I did when you bought the house.

Landscape: Mow and trim the yard regularly, keep green with fertilizer. Remove dead plants and trees. Water regularly, during growing season.

Roof and Gutters: Remove debris. Straighten the TV antenna if you have one. If you have a roof problem, have it repaired and keep a copy of you work order and any guarantees that you may receive.

Air Conditioners: any exposed rusted metal should be replace or repainted. If you have a condensation drainage problem, fix it. Install a clean filter.

Patio: Furniture that is in good condition appeals to buyer. If yours is old and worn and you wouldn't move it to your new house, it might be better to remove it now. Perhaps you can borrow patio furniture from a friend or rent some while you are marketing your house.

Swimming Pool: Chemicals should be adjusted so the pool is crisp and sparking. Remove the dirt and cobwebs from around the pump equipment. Chemicals and pool tools should be stored neatly.

 

Home Basics to Consider

Floors: Interior impressions are important. Any old, damaged carpet should be replaced, especially on stairs. If your tile is old and loose, think about fixing it. Polish floors before putting the home on the market. Shampoo your carpets for best presentation.

Doors: Doors with holes should be repaired and all doors should be easy to open and close. Closet and patio doors should also receive special attention. Buyers make subconscious judgments based on how a house "works". Oil or graphite any squeaky doors. Tighten loose doorknobs and hardware on cabinets in the kitchen and bathrooms.

Walls: Just like the exterior, interior painting can pay big dollars to you on a sale. Wallpaper can be a positive factor if it is put up correctly. Loose and improperly applies wallpaper can be detriment. Clean or paint air vents and repair cracks and holes in walls.

Windows: Torn or bent screens should be repaired, replaced or removed. It is better not to have a screen than one that is unsightly. Replace broken glass. Prune vegetation that blocks sun from coming in. You want the room to look bright and cheery. Drapery and curtain rods should not be "hanging on" but should be fixed firmly and work properly. Spend a little time adjusting them to look right.

  

Mechanical, Electrical, and Systems

Lights: All lights should be working and of the proper wattage. Buyers like to look everywhere and it is inconvenient if a bulb is burned out. Check garage, outside, crawl space, utility room and closet lights as well as those in all rooms.

Light Switches: All switches and outlets should work. Be careful, you may want an electrician to make necessary repairs.

Electrical Panel: Clear a path to the electrical panel. We find that most buyers want to see this area. A panel with the circuits labeled is an asset.

Appliances: If you are leaving an appliance, make sure it works. Some buyers turn on ranges, ovens, and check refrigerators to make sure they work. If they don't work, customers may wonder if something else will not work when they move in.

Plumbing: Anything that leaks, drips or doesn't function properly should be repaired or replace. Plumbing leaks can cause major damage to a home and are expensive to repair later. Leaky faucets and noisy toilets are a major concern. Consider installing new toilet seats if the present ones are worn.

Lawn Sprinkler System: All broken sprinkler heads should be replaced and the system should work.

Heating System: Plane to have your heating system serviced by a professional service company. A recent service tag is of great interest to a buyer. Dust off the heating unit and be sure that any spilled fuel is wiped up. Underground fuel tanks are in disfavor. If you have such a tank discuss this issue with your RE/MAX Agent.

Water Heaters: These appliances are pretty straight forward. If it is working, just dust if off. If there is a shortage of hot water or if it is leaking have a service company inspect it to determine what is the problem.

Energy Costs: Make a list of your fuel and electrical costs for the past 12 to 18 months. Your fuel dealer and utility company can help you with this if you have not kept your bills.

Wells and Pumps: If you have a private well the buyer will probably have it inspected for quality and quantity. Many lenders require a written report.

Wood Stoves: Massachusetts requires that you have a valid wood stove permit, usually issued by your town building inspector. Many lending institutions require a borrower (your buyer) to have a new certificate for the closing.

Smoke Detectors: These very useful devices should always be properly maintained. The state requires that the Fire Department in your town inspect and certify the proper operation of the smoke detectors within 60 days prior to closing. You are required to present an original certificate at the closing.

Septic Systems and Cesspools: Effective March 31, 1995 Massachusetts the Title V statute requires that all private sub-surface sewage disposal systems shall be inspected by certified system inspectors no earlier than 9 months prior to closing and if weather does not allow this then no later than 6 months after closing. If the system is found to be not operating properly the system must be brought into compliance. The usual course of events is that inspection will probably be made prior to sale. We recommend that you have the system inspected prior to putting your home on the market. If there is a problem you are in a better position to have the problem resolved before you have to involve a buyer in the issue.

UFFI: Massachusetts requires that the seller certify that to their knowledge there is or is not Urea Formaldehyde Foam Insulation present in the house.

Lead Paint: Since 1978 lead paint is not permitted to be applied to homes in Massachusetts. Many of our older homes have lead paint. Your RE?MAX Agent has written information to share with you about lead paint and the responsibilities and requirements for abatement.

Radon: About 25% of homes in our area have levels of radon above the action level figure recommended by the U.S. Government. Radon is a naturally occurring gas that can be harmful to humans after a period of exposure. Mitigation systems are available.

You Have Help: This may all appear to be an impossible list. Your RE/MAX Agent is prepared to help you through the maze. We have been schooled in the issues and have experience in helping sellers to comply with the may requirements. It is far better to learn about these things before the buyer's inspections. You can then remain in control of the solutions.

 

Pre-Marketing Inspection

Many sellers are having their property professionally inspected before placing the home on the market. This pre-marketing inspection revels to you the condition of the property that the buyer will be finding when they inspect. Facing these conditions and addressing them prior to negotiating time can have real benefits for you. Discuss this with your RE/MAX Agent.

 

That Open Feeling

Buyers like to feel they are going to have plenty of space to live in their new home. Openness stimulates positive feelings. Overstuffed rooms, closets and garages can appear to be small. You can't change the size of your home but you can present your property so that it appears spacious. You might consider renting some mini-storage space to move out those items you don't need right away.

Closets and Storage: All buyers want a lot of storage and closet space. Get rid of things you don't use. Summer clothes can be boxed up and put in the garage in the winter, for example.

Counter/Cabinets: Clutter makes counter and cabinet space appear inadequate. Countertop appliances that aren't used should be stored out of sight.

Garage: When items are moved out of the house into the garage, the next move is usually to the mini-warehouse or the trash. Perhaps a garage sale could help you. In any event, a thorough cleanup/pickup in the garage is necessary. Especially, tidy up your work bench and tool storage area.

Housekeeping

Bathrooms: Dirty bathrooms turn off buyers. Vanity, sink, mirrors and hardware seem to be where buyers look first. Soap on the tile and tub, mildew or missing tile grout should be taken care of. Loose towel rack, toothbrush and tissue holders should be repaired. Wet towels and wash cloths are often overlooked as sources of odor. Replace these with clean linen before showing.

Kitchen: Buyers inspect kitchens thoroughly just as they do bathrooms. Clean the stove and oven, remove built-up grease under the burners. Remember to clean the exhaust filter over the stove. Grease here really turns off buyers. They make generalizations about your other housekeeping if they see a dirty kitchen.

Windows: Make sure all your windows sparkle to show off your views.

Unpleasant odors: This can really be a delicate problem to discuss, but each home has its own aroma. Remember what it was like to go into a brand new builder home or new car? Fresh, crisp and clean smells attract buyers. You want your home to have the same feeling. Some people even bake bread or cookies before a showing to give the house a homey feeling.

Garage: Remove garbage from the house and, if possible, have trash removed from the house during marketing time. If you have a regular trash pickup, keep trash in cans or containers until the pick-up day. Check that there is no potato/onion spoilage under the sinks. Grind up a bit of lemon in your disposal to mask any odors.

Pets: As a first step, clean the cat's litter box regularly. Consider using the type that has a hood. Clean up dog litter before all showings. Keep pet water and food areas clean.

Laundry: During showings, keep dirty laundry out of sight.

Home Warranty Programs

These relatively inexpensive programs are available to provide the buyer with some protection against certain expensive repairs during the first year of their ownership. Consider purchasing a home warranty program for the buyer. Ask your RE/MAX Agent about availability and cost.

 

Final Notes

It may seem like a lot of work to prepare your property for sale. Remember that your house will be compared to others on the market. Each owner is competing for the buyer's interest, and the competition is tough. You want to give yourself every advantage you can against the stiff competition. Those homes which are in the best condition and marketed at the best price are selling. Today's buyers sometimes won't look at run-down property because they know that there is a good one to be purchased at the "right" price if they look hard enough. And today's buyers are probably right, so spend some elbow grease and time to maximize your home's potential. If you have any questions, be sure to call your RE/MAX Walden Country Agent.

 

Pricing Your Home to Sell

If your home is in the proper condition to receive buyers for showings, you are ready for the important step of establishing your position in the marketplace. Buyers are comparison shoppers for houses. With all the properties on the market, you have to compete for that ready willing and able buyer. Your marketing position will dictate the number of prospects may be interested, whereas, if priced attractively, you may have many prospects.

It might help for you to ask yourself the following question when you think you have established a price: "Would I pay that much for my house today?" If you wouldn't, how could you expect someone else to? Remember, everything sells for the right price. Pricing "at" or "just below" fair market value will bring an offer in faster. Fair Market Value can be defined as the highest price buyer will pay and the lowest price a seller will accept when both are negotiating freely and not under compulsion, with full knowledge of facts, and the property has been exposed on the market for a reasonable period of time.

Again, and we can't emphasize it enough, call your RE/MAX Walden Country Agent to help you. We understand the emotions you will be experiencing and want you to sell your home successfully.

Nature of a Real Estate Market: You should try to understand your local real estate market. Your RE/MAX Agent, attorneys, bankers and other people in your area are sources you can tap for information. Use them to help you in decisions.

Your house is a commodity. While it is very special to you because you have loved it, cared for it and deliberated over every dollar spent on it, you will likely have one attitude toward the house and its value. The prospective buyer, on the other hand may have another; will see it as a commodity. The buyer asks, "Where is the best buy with the most features in an area that meets my life-style? What is the best price?" Selling your house is like selling any other commodity in an open and free marketplace. Demand in the marketplace will determine the sale price. Regardless of how much you think your house is worth, today's value will be determined by today's buyer, not yesterday's buyer. Buyers selecting from comparable homes in a free and open marketplace will establish the value. Any home is worth only what someone will pay for it.

What you paid for your home and what you spent on improvements may have little effect on what the house is currently worth. An owner's investment in a home is not the determining factor of the property', value. It is worth what buyer will pay. Your property is subject to the economic forces active in the marketplace. Your asking price has a bearing upon how many buyers will want to look at your home.

We know that the lower the price in relation to the value, the greater number of buyers who will want to see the home. If you think as a buyer does, this will be readily apparent. Your house will not appeal to every buyer. The economic law of supply and demand will have an effect on your eventual marketing success.

Range of Value: Too often owners and agents get hung up on a specific price. You should not. It's impossible to predict the exact selling price of a home. You can come close in a subdivision where many homes with identical floor plans and designs sell regularly in a stable market. In this situation, because of the similar homes sold, it is possible to predict fairly accurately what the house will sell for. Generally, however, where volatile markets exist and prices change, thus changing buyer demand, it is difficult to recommend an exact price. What RE/MAX recommends is that you consider a range of value, to help position your home in the market.

To assist you in establishing a list price, refer to the property market analysis completed by your RE/MAX Walden Country Agent which contains a broker's price opinion. Feel free to call your Agent if you have any questions.

Final Listing Price: After receiving the property analysis which contains the broker's price opinion, you will be ready to list the property. Please call your RE/MAX Walden Country Agent to discuss the data and together make a pricing decision.

It might help for you to ask yourself the following question when you think you have established the price: "Would I pay that much for my house today?" If you wouldn't how could you expect someone else to?

 

The Marketing Process

You can be sure that most home sellers are bewildered by the marketing process. Owners don't know what to expect or what to do. Your real estate agent should describe each phase of the marketing process, including responsibilities of the agent and the owner.

 

We have outlined what you might consider doing to get your home ready for showings, but once you've hired an agent to work for you by signing a listing agreement, you should know what will be happening during the listing period.

Your agent should share with you ideas on how you can prepare for showings. Ask questions, communicate. Since showmanship helps sell faster, always try to have the home presentable, clean, and pleasant. If possible do not be at home when a showing to a buyer is occurring. Buyers are less inhibited and more willing to ask questions when you're out of the house. Real estate agents know what and what not to say. They know what the buyer is looking for. If they do not have the answer the agent can ask your listing agent later.

If you must be in the house during showings, let the agent do the talking. Don't offer your comments. A seller's casual "helpful" comments, made in an innocent way, have been known to lose sales.

You may not think the agent is telling potential buyers enough about your house. Don't try to second guess the agent. Depending on the buyer's needs and personality, agents may talk a lot, explaining in great detail features of a house. Some buyers may not like a talkative agent, so the agent may seem quiet to you. The agent is probably watching and listening to understand the buyer's reaction to your home. Trust the agent to do the selling.

 

Drop-ins

Occasionally a "buyer" may knock on your door to see your home because of the sign in the front yard. Don't let them in. Even if they tell you they don't like real estate people or will contact the agent if they have an interest in your property,….don't let them in.

You should forward all of these direct inquiries on your home to your RE/MAX Agent.

How do you know that the person at your front door is really a "buyer"? Could it be someone who wants to "case the joint" for a possible future burglary? Do you know? Are you sure? Don't take a chance.

People who really want to buy have no objections to working with an agent when they know the house is listed.

Ask your agent for a supply of RE/MAX business cards that you can keep by the front door. When drop-ins knock at your door, give them a card and ask that they contact your RE/MAX Walden Country Agent.

 

Advertising

A real estate company's newspaper advertising program is a small part of the marketing effort. Understandably, most sellers would like to see a lot of advertising. They are under the misconception that the amount of advertising done to sell the property is an indication of the effort being put forth by the agent.

 Real estate companies advertise to make the phone ring, to attract buyers….not to sell the specific home that is described in the advertisement. The odds of selling the specific home that is advertised are slim. Any house ads your RE/MAX agent's office displays are in effect advertising for customers for all of the houses listed. All our ads are working for you.

 Having your home listed and illustrated in the Multiple Listing Service book is the most effective form of advertising. About 50% to 60% of sales are the result of MLS cooperation. Be sure your agent has your home in several MLS systems. Your RE/MAX Walden Country Agent will provide colorful, professional photo listing sheets for cooperating brokers and buyers who visit your home. Providing professional marketing sheets is a form of reinforcement advertising intended to keep your home vividly in their memories. These photo listing sheets are also delivered to local cooperating real estate offices. RE?MAX Walden Country encourages other offices to show our listings.

 

Broker Open House

Agent tours of properties are important. You should allow your RE/MAX Agent to organize and conduct a broker's open house tour of your property. The more agents the better who have an opportunity to preview your home just after the listing is signed. You want as many agents to see the home as possible.

The better the condition of the home during the broker's open house, the more favorable the agents' reactions will be. Real estate agents must sell homes to earn their living. If they feel they can sell your property, they will be more likely to bring their buyer to see your house.

 

Multiple Listing Service

Your RE/MAX Walden Country Agent is a Broker Member of several MLS systems. Our Realtor membership is with the Greater Boston Real Estate Board and the GBREB MLS. We are also members of the Central Middlesex MLS (CMMLS). Additionally, we have computer access to most of the other MLS systems through our membership in the Bay State MLS network. Thousands of licensed agents have access to your listing information. This is quite an area of advertising coverage.

Your agent will explain local MLS procedures: 

1. Procedures for publication of the listings.
2. Procedures for showing arrangements.
3. Who will make appointments for showings.
4. Key and lock box procedures.
5. Sign-in procedures.

 

Showings

At this time, it is a good idea to give your agent some idea regarding special showing instructions. For example, you may want at least 30 minutes notice before a showing to tidy-up, or you may have an infant sleeping or a dog that needs to be restrained. Discuss any special requirements you have.

 

Remember, even though you may want two hours' notice before a showing, the buyer may want to see your home right away. All cooperating real estate agents may not know your special requirements. There will be times when an agent wants to come over "right away". Be patient and understanding. Many of our buyers are relocating from out of state and have very limited time to make a buying decision. Shouldn't your home be in the running? Try to accommodate the prospect, if possible. You want the prospect to have good feelings about seeing your home.

 

Patience

While your real estate agent is trying to sell your home, you will experience a full range of emotions….from glee to depression. This is normal. There might be a period just after you've listed the property with an agent when neighbors or friends offer you "constructive" advice that causes you to question your actions. Our advice to you is not to respond hastily. Be patient. You selected a RE/MAX Agent because of the agent's experience and years of successful real estate selling.

 

Offers to Purchase

When a buyer expresses a desire to own your home, the moment of truth has arrived. You have to make a decision. Call your RE/MAX Agent at any phase during this very important time. There are so many items to consider to determine if the offer is a good one. Sellers think the most important factor in the offer is price. This may or may not be true. All aspects of the proposed offer are important. Don't prejudge any offer from what the agent tells you over the phone. Look carefully at the other conditions in the offer.

Any offer to purchase contains five items, around which all negotiations seem to take place. They are:

1. Price
2. Terms
3. Possession
4. Extras
5. Contingencies

Your agent is prepared to make recommendations to you about each of these items. If you have questions regarding any item, contact your RE/MAX Agent.

Your RE/MAX Agent may help you with the negotiation procedure but cannot give you legal advice. Only your attorney can give you legal advice. With any offer you receive, you have three options: 

1. Accept the offer.
2. Counter the offer.
3. Reject the offer.

If you object to any items in the contract, your agent should explain the ramifications that may occur if you counter-offer. Remember, if you do sign the offer without changing it, your home is "under contract". Your goal is to close. Although the offer may be the right price and terms, your buyer still may have to qualify for a loan. You need to know whether this "good offer" is backed up by a "good buyer". The next two steps will be the buyer's inspections and a Purchase and Sale Agreement.

 Inspections

The buyer will probably want to have the property inspected by professional inspectors. In this area, by custom, these are usually at the buyer's expense although some buyers try to negotiate these costs.

 Your Attorney

The Purchase and Sale Agreement is a more extensive document used to more fully detail the agreement between the parties. It contains much of the material in the earlier Offer to Purchase. An Offer to Purchase and a Purchase and Sale Agreement are legal documents. You should understand what they contain. Your RE/MAX Agent can give you a blank copy to let you familiarize yourself with the content. You should consult your attorney in all questions of legal opinion and advice. Let your RE/MAX Agent and your attorney get acquainted on the telephone to coordinate their efforts on your behalf.

 

Under Contract to Closing

After you have signed the Offer to Purchase and are under contract, you may think everything is over. You should realize that it is over only when you have completed the final closing. There is still much work to be done by your RE/MAX Agent--and some by you--before you reach the closing table.

Your contract is an agreement between you and the buyer. Each item in the contract must be satisfied in order for the closing to occur. If the buyer has to obtain a loan to purchase your home, the buyer has a lot of work to do. You may call your agent to ask for periodic updates of what is happening. After the purchaser has applied to the lender, you might find out what the chances are of the buyer obtaining the financing as stated in your contract.

It is important to note that the buyer may not have to complete the sale if the agreed-upon financing is not obtainable at the time of closing.

The buyer will probably want to come back to see the home again. They might to measure windows for new curtains and drapes. Be as cordial as before the contract was signed. Do continue to keep the home neat and clean. The "under contract" period is an important time.

You may want your home to continue to be shown to other potential buyers until original buyer's contingencies are satisfied. You might consider obtaining a "back-up" offer. A back-up offer is signed by another buyer and goes into effect if for some reason your first buyer cannot complete the sale. You may want to prepare yourself for this eventuality. Back-up offers can be complicated. Discuss your options and responsibilities with your attorney. Feel free to contact your RE/MAX Agent to discuss any questions or concerns.

The lender will require an appraiser to visit your house. Your RE/MAX Agent will accompany the appraiser. Photographs and measurements will be taken.

You should do all you can to close on the agreed closing date specified in your contract. If you can't close on the date specified, the buyer may be able to reject the agreement and walk away from the closing. You may have to be out of town on business or may be ill. The contract usually doesn't state that the closing date can be extended if you are not able to attend, so be prepared to attend.

If you will not be available to attend the closing, you can execute a properly prepared deed and have your lawyer act as your closing agent. Be prepared for this situation at least one week before closing.

If for some reason financing is not available to the buyer at the time of closing or some other contingency has not been met, you may need to extend the closing date. Closing date extensions, or changes to any other items that represent a change to the contract should be in writing and signed by sellers and buyers.

It makes good sense for the extensions or changes to be in writing, signed by you and the buyer, prior to the date the event is to occur. For example, if your closing date is scheduled for June 15, you should have the agreement extending that date to a later date before June 15 arrives.

Your agent wants your contract to close as much as you do. Real estate fees are contingent upon a successful closing, just as are your proceeds of sale, so work with the agent as closely as possible. If something happens that you don't understand, give your RE/MAX Agent a call to get the explanation for you.