3. Marketing
It is now the time to bring on the buyers. While your Real Estate Agent will be doing most of the marketing, it’s a good idea to know all the avenues to be used. Today’s technology offers many new ways of marketing to give your home exposure to more potential buyers than ever.
To better maximize your potential for success, it’s important to market to three tiers - brokers, neighbors and buyers. To effectively target all three tiers aggressively, the following resources may be utilized: open houses, flyers, newspaper and magazine, email, and the internet. But since all Realtors have access to buyers, they will be especially incorporated into a plan through the local multiple listing service. When you sit down with your Realtor, you’ll cover other ways of targeting agents that specialize in your price range and area.
4. Qualifying the Buyer
Once an interested buyer is located, they need to be qualified in the following terms: financial ability, buyer wants and buyer needs. This is not something you will be responsible for - it will be up to mortgage lender and the buyer’s Realtor . Your Realtor, in the meantime, needs to on top of every detail for your sake. Anytime there is a call or contact, many details need to be discovered. Has their loan commitment come through? What conditions are on it?
Has the appraisal been done? Are there any repairs needed, etc. Your Realtor must be on their toes. Remember this may be only one of 30 deals the lender has this month - but the only buyer you have. It is the Realtor’s duty to make sure there is an open line of communication at all times to ensure that everything is done. You must also watch out for contingencies that could cost you time off the market. If a buyer wants to close the sale contingent on selling his or her current house, include a kick-out clause that allows you to back out of the deal within 72 hours (or better yet 24 hours) if you receive an offer that does not contain contingencies.
