Thank you for visiting Real Estate Incorporated!
I want to personally thank you for putting your trust in myself and our firm at what I know is a very stressful time in your life.
I’m sure you’re a little curious as to how the whole process works, and to reduce your stress level a little, I would like to take a few minutes to give you’re an overview of the Residential Listing and Sales process.
Prior to listing your property one of our Real Estate Professionals will research your home in the MLS, determine its past sales history, size and amenities, plus tax information, HOA status, (if applicable), and PID (Public Improvement District) status, (also, if applicable).
We will review current sales in the area of homes similar to yours and determine an estimated value factoring in current listings, recent pending sales, recent pending short sales, and like properties which have sold and closed in the past 120 days.
With this information in hand, we will visit your property to establish in our minds its condition in comparison with other homes available in the neighborhood and to solidify a pricing spread based on its current condition, and what price you may expect with staging and some basic upgrades.
At this point, if you desire, we can recommend a few other professionals to help us make sure that you will receive top dollar for your investment. IE: Professional Home Stagers, Painters, Contractors, Landscaping Professionals and a myriad of other vendors who are standing by to help get your home in tip-top shape.
Of course, these choices are always yours, but part of our service is to provide you with insights into the market gained in over 30 years of experience in selling New Mexico homes. How a touch up here, or clean up there can add additional funds to your bottom line and/or speed the sale of your property.
After our site visit we will prepare a “Sales Estimate and Closing Cost Summary” to show you in black and white, (and sometimes yellow), the range of values in which your home will most likely sell and what your bottom line will be at the closing table.
Once you have selected a pricing option that will accommodate your needs and a listing “go” date, we will prepare your listing documents and email them to you for signature, no muss, no fuss and you don’t even have to leave home.
In some cases, where the actual square footage of your home is in question, we may enter into a listing agreement with you with a price to be determined after we have had the home professionally measured and a detailed floor plan prepared. By entering into the agreement before a price is determined, you are authorizing us to allow a professional draftsman or appraiser to enter your home to do the measurements and floor plans. Once we have the information we need, we will present you with pricing options and you, at your sole discretion will be able to set the price.
Some FORMs you will see from us as we prepare your listing:
LISTING AGREEMENT: This is the contract between yourself and Real Estate, Incorporated., engaging us to sell your home. It states the term of the agreement, the parties involved and authorizes us perform the steps necessary to market and sell your home.
SELLER DISCLOSURE: The Seller Disclosure form tells the potential buyer specific things that you know about your home and its condition. It is a safeguard for you to protect you against future claims that a potential problem has not been disclosed. Please read and complete it carefully. (During this process, please make sure that you mark “don’t know” on any items that you don’t have direct knowledge of or that you are unsure of. “Don’t know” is a perfectly acceptable answer.
FIRPTA: The FIRPTA form is required by the IRS to determine if the Seller is a citizen of the United States. IRS regulations require that a buyer withhold potential taxes from the Seller if the owner is not an American citizen.
LEAD BASED PAINT DISCLOSURE: If you home was built prior to 1978 the Housing and Urban Development Administration of the US government requires that you disclose to any potential buyers the possibility that Lead Based Paint may exist in your home and the potential dangers of ingesting Lead Based Paint. As most homes built prior to 1978 do indeed contain Lead Based Paint, this disclosure is not usually a surprise to most buyers.
ADDITIONAL INFORMATION: In order to prepare the most complete listing possible we will also ask you for the name, account numbers, current balance and monthly Principle & Interest payments for any mortgages that exist on your home. (This allows us to prepare accurate closing cost estimates on any offers we receive and allows the title company to order payoffs of your loans on the day of closing.)
We may also ask you for a summary of your gas and electric bills for the past 12 months. These can be a strong selling point if your own a newer home or if your home has had additional insulation added.
Lastly, we will ask that you provide us with a list of “Special Features” that you would like highlighted in our marketing materials. Things that you have upgraded or items that you find particularly nice about your home. These could include upgrades to a kitchen or bath, ease of access to shopping, pleasant neighborhood, etc.
Once we have the signed Listing Agreement, our work really begins.
Initially, we will order your home to be photographed by a professional photographer and, in most cases, we will have it professionally measured and a custom floor plan prepared. Our photographer will prepare a “virtual tour” of your home which will be accessible through our many associated web sites and guarantees a larger number of web views of your property. (80% of current home buyers start their search on-line.)
Of course, this will all be done in coordination with your preparation of the home for sale and any staging professionals who you have employed.
(Just a word about staging. Staging a home, according to national statistics provided by the staging industry, reduces the time on the market by up to 50%. While we do not vouch for these statistics, our experience has been that homes that are properly staged do, in fact, sell faster and usually at a higher price. Staging costs can run from $95 for a 1 time consultation, to several thousands of dollars for the staging of a vacant home with custom furnishings and moving costs. If you have questions about staging, please feel free to give me a call and we can go over the ins and outs of the process and whether it is right for your home.)
Of course, we will place a sign on the property to let folks in your neighborhood that the property is for sale and catch the attention of those folks whose goal is to move into your area. Your home will have a lockbox, which can only be accessed by members of the Greater Albuquerque Association of Realtors to provide easy access to Realtors with potential buyers. The times and type of access will be up to your discretion. For example; 2 hours notice, 24 hours notice, by appointment only, etc.
On your “go” date, your home will be placed in the GAAR MLS, with automatic uploads to Realtor.com as a premium listing, Zillow, Trulia and our own web sites. It will be available to literally millions of potential buyers across the county.
We will send out “Just Listed” postcards to your neighborhood and “Just Listed” emails to all of the members of the GAAR MLS system, to let them know that a wonderful property has just come on the market. We will also remind the Realtor community of your homes special features with email updates on a monthly basis, (if we are listed that long.)
In addition to our other marketing efforts, your home will be added to our weekly newsletter which is sent to approximately 70,000 potential buyers in the Albuquerque Metro via email.
Every 2 weeks, usually on a Wednesday, you will receive a Market Analysis of the activity in your neighborhood, showing where we are priced compared to similar properties, what has gone pending in the past 14 days and what has closed, along with an email showing the number of viewings we have had on our different web sites and the number of calls and showings we have generated from our advertising.
Every 30 days, (if we’re listed that long), we will review our marketing statistics with you and our pricing to be sure that we are offering the optimum value for your home.
So, what happens when we receive an offer? I’m glad you asked!
Upon receipt of an offer, we will prepare an “offer specific” closing cost estimate for you showing your offered price/square foot, estimated closing costs and net cash at closing. This document, along with a copy of the contract will give you a complete picture of what the Buyer is wishing to accomplish with their offer and where it stands in comparison to your original listing price. (Prior to sending you any offer, we will validate that the Buyer is, indeed, pre-qualified to purchase your home.)
(Contract negotiations are an art and a science. This can be one of the most stressful times in the sale of a home and our goal is to bring a sense of calm consideration to the interactions between the two parties. We look carefully at the offer in light of our discussions of your goals and make recommendations as to how to counter and at what price, while adding our insights into the negotiation process.)
The general time frame from receipt of an offer to its acceptance or rejection is usually less than 48 hours. Some take longer, and some are much quicker, but in general, if a Buyer is ready to make an offer they are anxious to have it accepted.
CONTRACT TO SALE
The hard part’s over, or maybe not. Well, not for us!
Once a contract is agreed upon there are a number of steps that need to be accomplished. Providing you with signed copies of your agreement, sending the transaction to the title company to begin the closing process, coordination of inspections, appraisals, repairs (if any), keeping in touch with the new mortgage company, to assure that the loan process is being handled in a professional and efficient manor, and making sure that all pertinent tasks are completed on a timely basis that will not delay closing.
The good news is, we will make this all transparent to you! We will update you on a weekly, and sometimes daily basis as to how the process is going, schedule your inspections, provide you with copies of their reports, coordinate with title and mortgage and attend your closing with you. (If you are out of town, not to worry, we can have your closing documents emailed directly to you.)
Short of actually doing your repairs, (if any, and if there are, we can recommend licensed contractors to address whatever comes up), we will do everything needed to make your transition to your new home as seamless as possible.
AFTER THE SALE
Think we’ll forget you after the sale? Not!
We will follow up with you to make sure you receive all of the completed documents from the title company, that your move went well and that all of the items in your sale were completed to your satisfaction.
Our goal is not to have a lifetime client, but a lifetime friend!
Once again, thank you for listing your home with Real Estate Incorporated.! If there is ever anything you need I am just a phone call away!