Sellers
Why work with a real estate agent?
When selling one of your most valuable assets, working with an agent who is fully committed to your success is half the battle won. No matter how tempting it is to list a property on your own, selling a home is a time-consuming process that requires dedication and local expertise. Moreover, agent-assisted home sales typically sell for more than the average For Sale By Owner (FSBO) home.
Even seasoned investors will benefit from the services of a real estate agent. No two transactions are the same, and a strategy that has worked for you in the past may not produce the same outcome in an ever-evolving market.
Whether you want to close a quick sale, get top dollar for your property, or both, getting professional representation is always your best option. An experienced agent does more than put up a “For Sale” sign on your lawn. Their work involves a great deal of market research, planning, and negotiating the highest possible price for your property – all at a reasonable cost to you.
From market reports and the Multiple Listings Site (MLS), to home staging companies and contractors, they have the network and resources needed to gain maximum exposure and ensure a successful sale.
But whether you choose to work with an agent or not, it’s important to gain an understanding of the selling process. This checklist covers the most crucial steps in selling your home:
Evaluate your property
When getting ready to sell, you can begin by gathering facts and information about the property, such as total square footage, lot size, ownership history, zoning, and real estate taxes. Document any improvements and renovations you’ve made that can potentially boost the value of the home. You can also revisit the terms of your existing loan. What disclosures will you need to make when selling the property? Will your next home purchase be contingent to the sale of your existing one?
Research the housing market and property laws
Observe local market trends and find out about similar properties that have been recently sold in the area. How much did they sell for and what were the terms of the sales? Are you lawfully allowed to sell the property, and does it have a clear title?
Set your asking price
How much is your home worth? Once you have the specifics of your home as well as recent information on comparable properties in the neighborhood, you will be able to determine a realistic price range in which to list your home.
Explore financing options
Get in touch with lenders in the area to identify a range of financing options for prospective buyers. Collecting information on current mortgage rates and terms will serve you well in negotiations. This will also allow you to present prospective buyers with lending options to convince them to make an offer.
Conduct a walkthrough
Examine your property from the perspective of a prospective buyer or home inspector. Make a mental list of rooms, doors, windows, faucets, drains, tiles, and fixtures that need to be fixed or replaced. Think of any cosmetic improvements you can make that can potentially make your home more appealing to buyers.
Outside your home
- Freshen up cracked or faded exterior paint jobs for the roof, exterior walls, and front gate.
- Trim the grass and remove dead leaves and debris.
- Clear away clutter and personal items like bicycles or gardening tools.
- Check the roof and gutters for signs of wear, damage, or debris.
- Repair any doors and windows that don’t work properly.
- For condos, update the paint job and metal fixtures on the front door, windows, and balcony.
Inside your home
- Update interior paints and finishes.
- Ensure that all appliances are clean and in good working order.
- Ensure that the plumbing, heating, cooling, and electrical systems are fully-functional.
- Clean the carpets or other floor coverings.
- Check if sealants in the sink, shower, tub, and windows are intact.
- Replace or repair defective light fixtures and switches.
Know your neighborhood
Buyers will ask questions about schools, parks, shopping centers, transportation, and community groups. Making the information available will help them determine if they are buying in the right neighborhood.
The Black Star strategy
With more than $500 million in sales since 2019, Team Black Star is a premier real estate company in New Jersey. Under the leadership of Founder and CEO Aleksandr Pritsker, the #1 Realtor in the Monmouth and Ocean Counties MLS among all brokerages for two consecutive years, the team specializes in luxury properties in Freehold, Holmdel, Manalapan, Marlboro, and the surrounding areas. With the backing of their brokerage, eXp Realty, Team Black Star delivers exceptional service and unbiased advice.
- $500M in Sales
- 24/7 Service
- #1 Realtor in the Monmouth & Ocean County MLS
- 13 Years of Experience
Selling your home
The Team Black Star Guide
- Motivation for selling
- Timeline of the sale
- Relocation plans
- Priorities of the sale
Market Research
- Active, pending, and sold listings
- Supply versus demand for housing
- Macro and micro market dynamics
- Timing the sale and seasonal considerations
Strategic Planning
- Identifying desirable home features and benefits
- Other key differentiators based on active listings
Goals and Objectives
- Motivation for selling
- Timeline of the sale
- Relocation plans
- Priorities of the sale
Market Research
- Active, pending, and sold listings
- Supply versus demand for housing
- Macro and micro market dynamics
- Timing the sale and seasonal considerations
Strategic Planning
- Identifying desirable home features and benefits
- Other key differentiators based on active listings
Documentation & Contractual Agreements
- Completion of home repairs and improvements
- Hiring a home staging consultant
- Hiring a real estate photographer and media specialist
- Organizing meetings with trusted advisors
- Fleshing out the property launch timeline
Marketing Collateral
- Real estate photos, videos, and copy
- Broker network exposure
- Communication strategy
- Digital marketing plan
- Social media marketing
- Traditional advertising plan
- Showing schedule and strategy
- International buyers strategy
Marketing Launch
- Creating perceived value
- Attracting qualified buyers
- Showing the property
- Monitoring buyer interest
- Responding to market changes
- Weekly reports and updates
Negotiating Strategy
- Procuring written offers
- Processing multiple offers
- Qualifying and analyzing individual offers
- Responding strategically to offers
- Negotiating the best sales price and terms
- Developing a back-up offer strategy
Disclosures
- Filling out seller disclosure forms
Closing
- Finalizing paperwork and documentation
- Supervising the final walkthrough of the property
- Transitioning from the property
- Closing the sale
Staying in Touch
- Providing resources for relocation and homeownership
- Providing updates on second homes and investment properties
- Gathering client feedback, testimonials, and referrals
Setting your marketing budget
What are the fees and costs of selling a home in New Jersey?
When setting a marketing budget, it’s important to know about any fees, commissions, and taxes associated with staging, and selling a home in New Jersey:
- Closing fees
- Realty transfer fee
- Capital gains tax
- Exit tax
- Real estate commissions
- Real estate attorney fees
- Advertising and marketing costs
- Repairs, improvements, and staging costs
- Land survey and home inspection fees
- Prorated costs for annual property taxes or HOA fees
Team Black Star can provide an overview of your closing costs and other related fees.
Traditional advertising
Place ads in the real estate section of local newspapers, magazines, and other publications in the area to get the word out on your listing. Many publications run a text-only classified ads section, photo boxes, and magazine features. If you’re selling in a large town or city, the local papers might have a national edition for ad placements.
In addition, some publications offer online posts and ads tied into their traditional print ads. Learn the ad placement rates and deadlines for local publications and choose the ones that speak to your target market.
Online advertising
Most real estate companies have dedicated websites where they upload their clients’ listings. Agents will also include your home in the MLS as part of a seller’s package. Social media and other digital channels can increase your chances of attracting buyers who are relocating from a distance.
Marketing plan
Create a comprehensive marketing plan with the costs of advertising in mind. This will help you determine the best methods for reaching local and out-of-state buyers in search of homes within your price range.
Real estate copy and ad design
It’s worth investing in high-end collateral when selling a home in any price range. High-resolution real estate photos and videos with excellent lighting will draw attention to your property’s strengths and unique features.
Detailed descriptions and powerful copy that tells the story of your home will also spark interest in your property. For luxury real estate, many sellers create a dedicated website as well as a name that evokes its setting, provenance, and architectural style.
A “for sale” sign
A sturdy, well-designed, and weatherproof “For Sale” sign informs passers-by that your home is on the market. This sign should be placed in a prominent location where it can clearly be seen from the street. Real estate companies typically provide a sign as part of their service.
Property fact sheet
Create a comprehensive and itemized single-sheet description of property features and benefits that will appeal to prospective buyers. This sheet should look as professional and organized as possible. Agents customarily produce digital and hard copies of the property fact sheet for home showings.
An “open house” sign
The sign indicates the full address of your property and the date and time of the open house. There should ideally be one sign for your front yard and several signs in high-traffic areas and other conspicuous locations around the neighborhood. Directional arrows can lead prospective buyers to your property.
Open houses and private viewing appointments
Open houses are often held on weekends. Go over your schedule and determine the best days for showing the property. Make sure that all real estate ads and signs reflect accurate information on the date and time of your home viewings. You can also choose to skip the open house altogether – instead, you can schedule appointment-only private home viewings to minimize traffic in your home. Your agent can act as your representative during open houses and home viewings, answering prospective buyers’ questions about the property and the neighborhood.
Contracts, forms, and paperwork
You’ll need to review and accomplish several forms and papers to complete the legal sale of your property. Important documents such as the purchase contract, seller disclosures, land title, and deed of sale are prescribed by state and federal laws. The proper forms may be obtained from your agent or local Board of Realtors. If you have reservations with certain terms, conditions, or clauses in the paperwork, consult with your agent or real estate attorney.
Negotiating the final terms of the sale
During negotiations, you need to come to a written agreement with a prospective buyer regarding the following items:
- Sales price
- Financing terms
- Home inspection
- Contingencies
- Date of closing
- Date of possession
Have your agent or real estate attorney review all contracts and analyze any loopholes before finalizing the deal. Make sure that all information is accurate and spelled correctly.
Final walkthrough
Schedule a final walkthrough of the property with the buyer and their witness before completing the settlement. This will help both parties verify that the property being purchased meets the buyer’s expectations. Sellers don’t always have to be present for the final walkthrough – your agent can serve as your proxy and ensure that the buyer is satisfied with the overall condition of the property.
Relocating and finding a new home
Most sellers look for their next home while waiting to finalize a sale. You’ll need to pack your things and move out before the new owner takes possession of the property. An experienced agent will help you coordinate the timing of both transactions, or at least help you make a home purchase before closing the sale. Make the transition as smooth and stress-free as possible by planning ahead.
Contact team black star for more information
Get in touch with Aleksandr Pritsker and Team Black Star for listing services and seller representation. Call them at 732.688.3819 or send them an email to get started. The team works 24/7 to facilitate the quick and lucrative sale of your home. They can also refer you to reputable moving companies, mortgage brokers, contractors, and other professionals for legal advice and township certifications.