Sellers Guide

#1 Are you ready to Sell your Home?

The first question you might want to ask yourself is, “why do I want to sell my home?” …more space, less space, relocating, convenience. All of these questions affect the potential sale of your home and the negotiating process of that sale.

#2 Preparing Your Home

Dale Jorgenson has worked in the Peoria market advising home owners for over thirty years. In that time, he has studied, assessed and helped hundreds of clients and been a part of thousands of real estate transactions.

Knowing resale value in today’s market is critical, and assessing your home is key to beginning the home selling process. You may want to ask yourself, “What would I like to see or not see if I were touring this home as a potential buyer?”

Problems like chipped paint, dirty walls, windows and doors, unfinished remodeling projects and cluttered garages are all areas for home selling improvement. Make a list of all the interior and exterior projects you want to complete before placing your home on the market. Neat, tidy and organized works

#3 Home Staging

Here are some practical suggestions for enhancing your home's appearance.

Look at your house "THROUGH THE BUYER'S EYES," as though you've never seen it or been there before. Any time or money invested on the following will bring more money in return, and perhaps a faster sale.

INSIDE:

• Declutter. Clear unnecessary objects from furniture throughout the house. Keep decorative objects on the furniture restricted to groups of 1, 3, or 5 items. Clear off the kitchen countertops. If it hasn't been used for three months, put it away! Take all personal items off the refrigerator doors. (A sparse kitchen helps the buyer mentally move their own things into your kitchen). Remove unnecessary items from bathroom countertops, tubs, shower stalls and commode tops. Keep only your most needed cosmetics, brushes, perfumes etc., in one small group on the counter. Coordinate towels to one or two colors only.
• Show off the space. Rearrange or remove furniture, if necessary. As owners, many times we have too much furniture in a room. Less furniture makes rooms appear larger. If you need room to store extra possessions, use the garage or rent a storage unit.
• No personal items. Take down or rearrange certain pictures or objects on walls. Patch and paint nail holes if needed. This will help buyers see themselves in the home.
• Review the inside of the house room by room, and
  • Paint any room needing paint
  • Clean carpets or drapes that need it
  • Clean windows
• Leave on certain lights during the day. During showings, turn on all lights and lamps.
• Have soft relaxing music on during the day for all viewings.

OUTSIDE:

• Declutter. Walk around the house and move garbage cans, discarded wood scraps, extra building materials, etc., into the garage. Clear patios or decks of small items such as small planters, flower pots, charcoal, barbecues, toys. etc. Put items in the garage or if seasonal in a storage unit.
• Keep it clean. Check gutters for roof moss and dry rot. Make sure they are swept and cleaned. Power wash dirty siding and decks.
• Keep it green. Look at all plants... prune bushes and trees. Keep plants from blocking windows. YOU CAN'T SELL A HOUSE IF YOU CAN'T SEE IT. Weed and mulch all planting areas. Keep lawn freshly cut and fertilized. Remove any dead plants or shrubs.
• Curb appeal. Check paint condition of the house - especially the front door and trim. If you have the budget, add fresh potted plant or flowers by the front door. CURB APPEAL REALLY WORKS!

#4 Ready to List Your Home

Chad Jones, a lifelong Peorian, has been in the forefront of real estate development for twenty-five years. As part of the Jorgenson Group, Chad has been involved in the building and resale of North Peoria and Dunlap homes for first-time buyers, relocation and new construction.

Before you list your home, it is important to do your homework on the real estate companies in your area.

• Search online for local real estate companies.
• Review local publications for agent advertisements.
• Call each company to compare commission fees, marketing campaigns and yearly sales volume.
• Talk to people; 9 times out of 10, someone you know has sold their home and can point you in the right direction and provide a credible recommendation.
• When choosing a real estate agent, do not be afraid to meet with many different agents.

After all, they are competing for your business and this is what makes the real estate industry successful.

Feel free to ask the following questions:

• How many years of experience do you have in this industry?
• What is your selling experience in my community?
• What professional certifications do you hold (ex. Certified Residential Specialist – CRS)?
• What services will you provide for me as my agent?
• How will you represent my property?
• Can you provide a market analysis for my property?
• How will you determine the price of my home?
• What is the fee for your services?
• Can you provide the different scenarios with the sale of my property (as far as commissions and fees)?
• Explain the paperwork that I need to sign.
• What is the timeframe for listing my property with you?

#5 Determining Property Value

Dale Jorgenson and Chad Jones have helped home owners and investors in determining the fair market analysis for properties throughout the Tri-County area.

There are several factors that go into determining the value of a home.

• It is realistic to compare the homes in your area and the asking prices of those homes.
• The law of supply and demand always comes into play. Do you live in an area with increasing job opportunities or an increasing supply of homes?
• Owners’ needs greatly impact the selling price of a home. Does the owner need a quick sell or do they have time to sit on their sale?
• The selling price is not cut and dry. Often the seller will negotiate the price, split closing costs or offer different allowances to the buyer, to make the sale of the home complete.

Only a qualified Realtor® can provide a fair market analysis of the homes for sale in your area. A Market Analysis is usually free and without obligation. For more information on how to receive a FREE Market Analysis that will help you properly determine the value of your home, contact The Jorgenson Group.

#6 Getting Your Home Out There

The Jorgenson Group is a member of MLS through Jim Maloof, participating in advertising through the Homes Guide, Peoria Journal Star, our website and a year-round commitment to Open Houses on Sundays from 2-4pm.

There are a number of different ways an agent can drive traffic to view your home. Talk with us to form a practical advertising plan for your home.

Advertise through:

• Multiple Listing Service (MLS)
• Open Houses
• Websites/Internet
• Print Advertising
• Homes Guide

#7 Selling Your Home

Dale Jorgenson and Chad Jones of the Jorgenson Group have the experience and expertise to present and negotiate the residential offers between buyers and sellers using a team approach.

The Offer

An acceptable offer depends on many different things:

• Is the offer near the asking price?
• The timeframe of the seller – Does the seller have another house payment? Insurance?
• Does the seller have time to wait for the agent to bring them more potential buyers?
• What if the home is listed and never receives a single offer?
• What if several offers are received at the same time?

The Counter-Offer

When potential buyers are searching for a home, they can respond in three different ways to the seller(s):

• This home is not what we were looking for. We are not interested in the property.
• We are interested in the home and we will purchase the property on the buyer's terms per the real estate agreement.
• We are interested in the home, but here is our counter–offer for the property.

Negotiating

This negotiating process can at times seem very complicated. However, if you have the right Realtor®, all of this can be hassle-free.

During the negotiating process of the sale of a home, the seller can react in one of three different ways:

• Accept the buyer's offer
• Decline the buyer's offer
• Make a new counter–offer

#8 Saying Goodbye To Your Home

Once a contract is signed, the property is pending. The Jorgenson Group, through Jim Maloof/Realtor®, will complete all the necessary steps towards a successful closing.

The closing process is always changing. It is even referred to “settlement“ or “escrow” in

different parts of the county. With increased technology, many closings are completely automated

and both parties do not have to be present at the same time to sign.

Closings usually take about 30 days to complete. This mainly depends on the buyer's financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, termite inspections, surveys and appraisals).

The closing process is the transfer of the title of the property from the seller to the buyer. The buyer will receive the keys to the home or the deed to the land, while the seller receives payment for the property. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes and any additional closing costs. All legal papers are filed with the local records office.

It is this step where the buyers and sellers do very little. It is important as the buyer to take a final walk through the property to make sure the property's condition has not changed. It is equally important for both the buyer and seller to make sure the paperwork they are signing reflects the agreement of the original sale.

#9 Hiring A Moving Company

If you plan to hire a moving company you might want to do some research first. Go online and check reviews of local moving companies. Go on a social media site like Facebook and ask your friends.

#10 Surviving the Move

Moving can be one of the most emotional times in your life. The thrill of something new … new career, a new neighborhood, a new home. While this may sound great to some people, for others these changes can be an emotional rollercoaster.  Talk to your family about their feelings to help them with the transition.

10 steps courtesy of Jim Maloof Realty® and The Jorgenson Group