Seller's Guide

The Seller's Roadmap

Determining the Value of Your Home

How does your home compare to the property that just sold down the street? Here are some factors in determining your home value:

  • Style (Rambler, 2-story, etc.)

  • Lot Size

  • Age

  • Bedrooms/Bathrooms

  • Parking

  • Listing Price

  • Sold Price

  • Square Footage & Value per Square Foot

  • Condition

  • Features like granite, hardwood, new kitchen, etc.

A Comparative Market Analysis (CMA) is essential to determine the value of the residential property. The location and characteristics of the property are the key elements in determining value. Therefore, the basis for valuation is similar properties in your area. The market analysis takes into account the amount received from recent sales of comparable properties and the quantity and quality of comparable properties currently on the market. The desired end result is to find a price that will attract a willing and able buyer in a reasonable time.

A professional appraiser helps manage your interest and supports a realtor by providing a well-developed and documented unbiased estimate of value upon which you can base your financial decisions. Getting a pre-listing appraisal will help you determine a true list price for your property as well as maximize your chances of selling quickly for top dollar.


Once the value of your home has been determined by either a CMA or a pre-listing appraisal, you can decide on an offering price that will achieve your goals. Generally, the price should not exceed the value by more than 5% or potential buyers may not even make offers. Naturally, if you want to sell quickly your asking price should be very near the value.


The following are a few things to keep in mind about pricing:

  • Realistic pricing will achieve the maximum price in a reasonable time.

  • The market determines the price.

  • The costs of improvements are almost always more than the added value.

  • A house that is priced right from the beginning achieves the highest proceeds.


Appraisers make adjustments for differences between home features.

  • Larger home = higher value.

  • Smaller lot = lower value.

  • More bedrooms = higher value, and so on.

  • Your home is compared individually to each of the other homes.

    • The sum total of the adjustments will be added/subtracted from that home’s specific sale price.

    • Your home value is the sum total of similar features compared to the 3-5 comparable home values.

  • A standard appraisal will consist of 3-8 recent, comparable home sales.

Consequences of Overpricing

What to Expect From Selling Your Home

Key Market Factors


Some properties sell in a few days, others may take several months - an average sale of a home around 172 days, or around 6 months. By recognizing some key factors that influence marketing a home, you can get significant control over the market time. The proper balance of these factors will expedite your sale:

  • Location: Location is the single greatest factor affecting value. A neighborhood’s desirability is basic to a property’s fair market value.

  • Competition: Buyers compare your property against others in that neighborhood. Buyers interpret value based on available properties on the market.

  • Timing: The real estate market may reflect a “buyers' market” (a market in which goods are plentiful, buyers have a wide range of choices, and prices tend to be low) or a “seller’s market” (a market in which goods are scarce, buyers have a limited range of choice, and prices are high).

  • Condition: The property condition will affect the price and speed of the sale. Optimizing physical appearance and advance preparation for marketing maximizes value.

  • Price: If the property is not properly priced, a sale may be delayed or even prevented. Reviewing the Comparative Market Analysis or pre-listing appraisal assists you.

Costs Associated When Selling

 

  • Compensation (buyer and seller).
  • Seller closing costs (title insurance fees).

  • Potential buyer closing costs (lender fees, title insurance fees).

  • Pre-listing appraisal.

  • Home warranty requests from buyers.

When an Offer Is Made

 

  • Agent receives and reviews the Real Estate Purchase Contract (REPC).

  • Schedule a meeting face-to-face.

  • Send REPC to sellers for review.

  • Discuss the offer and either accept/counter/reject.

  • If accepted, follow contract deadlines including; seller disclosure, due diligence, financial & appraisal, and settlement.

When an Appointment Is Made

Agents from many real estate firms will want to show your home. Please allow any agent who calls to show your home at the suggested time. You will increase your odds of a sale by allowing more qualified buyers to see your home.

During showing:

  • Open all draperies and window shades during daylight hours.

  • Turn on all lights and replace bulbs with high-wattage bulbs where needed.

  • Open windows one half hour before showing to circulate fresh air.

  • Open all the doors between rooms to give an inviting feeling.

  • Place fresh flowers on the kitchen table and/or in the living room.

  • Remove breakables.

  • The kitchen and bathroom should sparkle.

  • Clean out the garage and attic: buyers want to see what kind of storage there is.

  • Pets should be confined or restricted from view. Eliminate pet odors. Not everyone may share your love of animals. Some people may be allergic to them.

  • All jewelry and small valuables should be stored in a safety deposit box or in a locked closet.

  • Beds should be made and clothes picked up. Bathrooms should be clean, with towels folded and the toilet lid down.

  • When you leave the house, please leave it as if you know it is going to be shown. You never know when the right person is going to look at it.

  • Get in the habit.

Marketing Action Plan

  • Documents/Other.
    • Review agreement and addendums.

    • MLS and Seller Disclosure forms filled out.

    • Review your Strategic Pricing Analysis. What is your home worth?

    • Order preliminary title report from title company.

    • Utilities company account information: Water/sewer/garbage/HOA/gas/power.

  • Enter listing into the MLS system.

  • Put up "For Sale" yard sign.

  • Install lock box.

  • Schedule time to shoot photos for the property.

  • Review showing procedure.

  • Inform colleagues about listing.

  • Schedule first Open House tour.

  • Marketing campaign including:

    • Property listed on both Wasatch Front and Park City MLS.

    • Property listed on THE AGENCY global website.

    • Property listed on Zillow, Trulia, Realtor.com and other syndicated websites.

    • Post listing on social media sites including Facebook and Instagram.

    • Social media marketing campaign, including Facebook, Instagram, HGTV, Realtor.com and thousands more.

  • Create marketing flyers.

  • Weekly communication.
  • Schedule an Open House tour.

  • Show property to potential buyers.

  • Follow-up on email/phone/text leads.

  • Monitor market conditions.

  • Monitor/update comparable properties for sale. Send over updated Strategic Pricing Analysis.

Work With Jason

Jason recognizes that buying, selling or leasing a home is more than a simple transaction. He endeavors to provide each of his clients exceptional, personalized service from start to finish, all while truly working to understand and exceed his clients’ real estate expectations. From first time home buyers, to seasoned investment portfolios, to property leasing, Jason has the expertise required to navigate any scenario.

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