Step 1: Data Collection & Property Assessment
This is the data collection stage of the process. It is necessary to schedule a consultation to ascertain your needs and goals as they pertain to the sale of the property. Due to the COVID-19 pandemic, my preferred method of contact is to meet virtually or over the phone. You’ll be asked to answer preliminary questions about the property such as location, names of all the people or entities who hold title to the property, whether or not the property is currently occupied, etc. This necessary information can be collected over the phone or during our first virtual meeting but for your convenience I can also send you a link to my interactive Google form through email.
Once I have the preliminary information I need either that I’ve taken over the phone or from your completed Google form, we will schedule an appointment for me to assess the property. This is a necessary step in the process that must occur before any discussions regarding listing price, marketing plans, or commission can be made. When I assess the property I will take physical measurements of accessible rooms and buildings on the property, observe the property for material adverse facts, and take copious notes to collect as much information and data about the property as possible for the completion of the Sales Comparison Analysis.
Step 2: Comprehensive Market Research & Analysis
The Sales Comparison Analysis
The Sales Comparison Analysis (SCA) – often referred to in the real estate industry as a Comparative Market Analysis (CMA) – is not an appraisal but rather an objective professional opinion based on current market conditions and the observable condition of the subject property. I research the market for current, active listings and recent sales of local properties most similar to the subject property. Properties are compared by overall square footage, acreage, age, number of rooms, updates to the property, special features, and other aspects. Positive and/or negative adjustments may be made to the estimated listing value of the subject property for (observable) conditions and/or features of the property. The estimate is usually expressed as a range to help you, as the seller, determine your listing price. In other words, an SMA is an objective, market-driven starting point for pricing properties. Buyers agents often utilize SMA’s as well to help their buyer clients determine whether or not the seller's listing price is fair and reasonable under the current market conditions.
Step 3: Listing Price Establishment
Consultation, Compensation Options, SMA Presentation, and Documentation
At this point in the process, you’ll have to decide where you want our services to end. You have two options: they can end here at the end of Step 3 with you as our customer or at the end of Step 9 as our client at the closing table.
Option 1: Non-Contractual Seller Customer Service
If you intend to list the property on your own as a For Sale By Owner (FSBO) or you want to entertain other firms as possible options for listing the property, payment for services rendered in Steps 1-3 will be due at the time the results of the SMA are delivered to you. The check should be made payable to United Country Oakwood Realty, LLC as follows:
Fees for Non-Contractual Seller Services (Property Assessment with Sales Comparison Analysis):
Residential = $50 plus an additional 5 cents per square foot
Vacant Land = $75 plus an additional $2 per acre
Commercial = $100 plus an additional 5 cents per square foot
Option 2: Client of the Firm
If you approve of the way we market lifestyle properties, we agree on compensation, and you would like to pursue hiring United Country Oakwood Realty, LLC to market the property, the aforementioned fees will be waived. We’ll sign a Listing Agreement and proceed to Step 4.
Step 4: Preparing Your Home For Market
Clean and Declutter for Photos, Video, and Drone Work (if applicable)
This guide offers suggestions for preparing your property for listing and marketing. Clean it, paint it, repair it, stage it if necessary! Make your property look its absolute best! Your first showing begins with the photographs and video that will be posted on the internet. Since this is where prospects first see your property, the better it appears in photos & video, the more buyers your listing will attract and potentially the higher the price your property may sell for.
Step 5: Showing Management
I'll set your listing up in ShowingTime - a program and application that allows agents, inspectors, appraisers, and other real estate professionals to schedule appointments in your home based on your schedule and settings. You'll know who is requesting an appointment and for which day and time. You can receive appointment requests by phone, email, and or text message and you'll be informed as soon as an agent leaves feedback on the appointment.
Step 6: Marketing Plan Implementation
Broader Exposure for Your Listing
It’s time to implement the marketing plan for your listing. From physical marketing with flags, signs, and info boxes on the property to print and internet marketing, I’ll form content for your listing, enter it into the Multiple Listing System, create flyers, pamphlets, social media posts, and postcards, etc. Oakwood Realty will aggressively market the property to attract as many potential buyers as possible. Agents will begin requesting showing appointments with their clients and customers.
Step 7: Offers & Negotiation
Once you receive an offer (or multiple offers) we will discuss the benefits and risks of every offer so you can make informed decisions.
Step 8: Under Contract
Working Through Contingencies
Once you've accepted an offer we will cooperate with the buyers and their real estate professionals to assist in working through their offer contingencies. Whether it's a home inspection, appraisal, or any other contingency that is stipulated in the offer, we will work together to see them through and hopefully keep things moving towards closing.
Step 9: Closing
The Final Step
It’s closing day! All the sellers and buyers sign their respective documentation. The sellers collect their proceeds and the buyers collect the keys.