Category: News and Information

1- Why are you selling?

Your first step should be to write down the reasons that are motivating you to sell your home. Are you under pressure because of a new job opportunity? Do you just need more space because there’s a little one on the way?

It’s a good idea to think about what your goals are overall then decide how selling your home will affect your goals either in a positive or negative way. After you’ve determined these things on your own, your Orlando real estate agent will have the knowledge to set a realistic time frame to get your home sold according to your specific needs. This will help you to plan your move accordingly.

2- Set the selling price

After you’ve determined why you’re selling and how much time you need before making the big move, it’s time to decide on a selling price. This is where your Orlando realtor will prepare a CMA [comparative market analysis] on your home which determines a home’s value based on recent sales in the same neighborhood for homes that are similar to yours. After reviewing this report with your agent, he or she will then guide you to getting the highest price that will get your home sold within the time frame you’ve chosen.

Many times it’s a challenge for homeowners to remain objective when it comes to setting a price for their home so try to keep your emotions out of it. It’s always better to price your home correctly from the start rather than setting it high and then lowering it. If your house stays on the market too long because of it being overpriced then you run the risk of potential buyers thinking that there’s something wrong with it causing you to lose even more money.

3- Get your home ready

Time to get your home looking showroom ready! Let’s face it, most of us don’t keep our homes in the condition that it needs to be in to fetch the highest price when selling. Because we live there, many things get overlooked or put on the back burner like that stain on the carpet you’ve been meaning to clean or the caulking in the bathroom that needs replacing. Well, the time has arrived to knock out that long overdue to-do list. Believe it or not, the way your home looks will have a huge impact on how fast and how much it will sell for.

You’ll never get a second opportunity to make a first impression, so make it count. Consult with your Orlando realtor on what should be changed, repaired, removed, or painted before listing the home for sale. The better you’ve maintained your home over the years, the less you will have to do to get it ready.

Be sure that your home is as clean and clutter-free as possible so that it looks as spacious as possible allowing potential buyers to move freely throughout your house. Also, remember to open up those blinds and curtains and let in as much light as possible.

4- Ask your Orlando Realtor about the marketing plan

OK, your home is looking sharp, you know how much time you need to sell it and you’ve established a listing price. It’s now time to list it and start marketing it. Ask your Orlando realtor how they plan to market your home.  It’s your realtor’s job to expose your home to as many qualified buyers as possible.

These days realtors have many different effective ways to market a property to get it sold for the highest price in addition to listing it on the MLS. Some of these ways include social media, videos, flyers, email blasts, open houses, etc.

5- Receiving offers

After a buyer decides they would like to buy your home, they will present a written offer. Before you even see this offer, however, your Orlando real estate agent will have to determine whether or not this buyer is pre-qualified to buy a home. Don’t waste your time if the buyer isn’t qualified.

After receiving a legitimate offer on your home, your agent must review the contract to ensure that it protects your best interest. Make sure to thoroughly review the fine print because once you accept it, it may be too late to make changes to it. The legalities of the contract are very important so don’t hesitate to ask your agent about any concerns you might have before signing.

6- Negotiating the offer

Seldom will you get a buyer to agree to your price without there being some negotiating involved? Your Orlando realtor should have the experience and expertise to negotiate on your behalf.  Your agent should review the written offer with you in detail so that you fully understand what the buyers are offering as well as what they are asking for in return.

Here are some items that are typically negotiated on the sale of a home

1. Listing Price
2. Closing Costs
3. Repairs
4. Fixtures And Appliances
5. Time Frame for Occupancy

7- Preparing for the closing

Once negotiations are over and all necessary inspections have been completed, etc. It’s time to begin closing procedures. Your Orlando realtor should be in constant contact with the Title company to make sure that everything is going smoothly as well as quickly address any issues that may arise. Your agent should also take the initiative to reach out to all parties involved ensuring that all parties are on the same page.

8- The Closing

This is where the ownership of the property officially transfers to the buyer. Your Orlando real estate agent should be present at the closing to help you understand the entire process including the forms that you will have to sign. Be sure to ask as many questions as you need to at the closing table. They are no stupid questions, especially for such an important transaction.

9- After the closing

Your home has officially been sold and you can start initiating the plan to move out. Your realtor should prepare a list of things that need to happen to turn the property over to the new owners. Make sure to cancel all your utilities and services on the home or switch them to the names of the new owners. Turn over all your keys, and garage door openers, and be sure to give them any access codes to the entrance and amenities. Not only will the new owners appreciate this, but it will save you from having to answer a few phone calls when you’re busy moving into your new home.

It was April 21st, 2015, I remember that date because it was the same day that our dog “Jax” turned 1 year old. I had buyer clients that I had been working diligently within finding a home in the Hunters Creek, FL area.

When I eventually showed her what would end up being the home of her dreams, she fell head over heels in love with everything about the property.   The colors reminded her of the home she grew up in, the bonus room was perfect for his home-based business as a Gemologist and the open floor plan was exactly what they were looking for.

After seeing it, we immediately submitted a full-price offer on it.   However, this apparently wasn’t enough for my over-anxious buyers. Against my advice as an experienced Orlando realtor, they insisted on writing a letter to the sellers telling them how badly they wanted the home and why hoping to convince them to accept their offer.  

Whether the letter made any difference in the sellers accepting my client’s full price offer or not… I don’t know. What I can tell is that when it came time for me to do some negotiating for my clients so they can get the best deal possible… there was no negotiating.

The sellers knew how badly the buyers wanted that house and they were about to start using their leverage.   When it came time for inspections, the home was in overall decent condition but did need some minor repairs like new carpeting, and a few screens needed replacing on the back patio deck. Unfortunately, the sellers took full advantage of my client’s emotional attachment to a house that wasn’t even theirs yet. They refused to budge on anything… they didn’t even want to pay for the 1st year home warranty which is only a few hundred bucks.  

Some real estate agents will actually encourage their buyer clients to write a personal letter to the seller of a home to try and get that emotional edge. What they don’t realize is that this could severely cripple them when it comes time to negotiate with the seller.  

Think about it, you’re disclosing information to the sellers that they will almost certainly use against you at the negotiating table. Wouldn’t you if you were in their position?   There’s no denying that buying or selling a home can be a very emotional decision. The problem is that emotion clouds judgment and can cause you to make the wrong decisions, which in real estate translates to losing money.  

As an Orlando real estate agent, It’s my job to get my clients the best deal possible when finding them a house. It’s also my job to keep emotion out when it comes time to negotiate the deal. That’s why I advise all of my buyer clients against reaching out to the sellers on a personal level. It’s not worth the risk of being put into a vulnerable position when it’s time to negotiate.  

The fact is that 99% of sellers are only concerned with their bottom line and a personal letter from someone they don’t know won’t mean anything to them at all. In my opinion, a personal letter only exposes the buyer’s weakness… their emotional attachment to the house.  A buyer’s best bargaining chip is the offer amount. If you want the house that bad and the numbers justify it, then make a full-price offer and leave the personal stuff out of it.