Selling property in today’s market is a challenging prospect. Not only are you competing against a large surplus inventory of homes, but you are doing so at a time when there are relatively few qualified and motivated buyers. It is more critical than ever to carefully plan and manage every aspect of marketing your property.

As your agent, I will work diligently to help you get the best price and terms possible for your property.  And while every seller and every property are different, the process generally goes something like this:

1. Initial Consultation 
2. Research & Market Analysis
3. Marketing Dialogue
4. Listing the Property
5. Marketing
6. Showings
7. Negotiating a Contract
8. Satisfying Contractual Obligations
9. Closing

My goal is to minimize your stress and maximize your positive experience by overseeing every detail and by giving you resources, information, and advice that will help you to make the best decisions.
 

1. Initial Consultation

During my initial visit to your home we will discuss the specifics of your situation, your motivation for selling, any time pressures or constraints, and any other factors relevant to your selling decision. I’ll also ask for a tour of the property and any information you can provide regarding ownership history, construction, condition, important features, and any planned upgrades or repairs. If you have any questions about me or about Epoch Properties, I’ll be glad to answer them at this time. 
 

2. Research & Market Analysis

By consulting the public records on your property available at your local Town or City Hall, I will document ownership information, the property description and boundaries, zoning, tax information, liens (e.g. mortgages), and other official information of potential relevance. By reviewing this information now, we can identify any problems or inconsistencies that will need to be resolved prior to the sale of your property.

I will also perform a Competitive Market Analysis (CMA), comparing your property to similar properties that have sold recently as well as to those currently being offered for sale. The CMA is a critical tool in helping to assess the appropriate listing price. 
 

3. Marketing Dialogue

At our second meeting, I will share with you the results of my research, along with my opinions and recommendations for marketing your property. We will discuss the terms of the listing agreement (duration, commission, my obligations to you), the listing price, marketing strategy, and pre-showing preparations (e.g. repairs, upgrades, decoration).

It is also helpful to talk about your expectations as well as a contingency plan if they are not being met. If we are not successful in finding a buyer within a specified period of time, we should be prepared to alter our marketing strategy, reduce the price, or both. 
 

4. Listing the Property

We will review and fill out several important documents, including the Listing Agreement, Property Detail sheet, and Seller’s Property Condition disclosures. Providing as much detail as possible about the property will help me to market the property effectively, will give potential buyers a sense of integrity about the property, and will avoid potential future liabilities for undisclosed issues.

In addition to the paperwork, I will take room measurements and photographs, taking care to choose appealing but accurate images which will draw people to the property without creating false expectations. To that same end, we will also consider headlines and advertising copy that is most likely to be effective in attracting potential buyers. 
 

5. Marketing

The specific types of marketing will depend on your property and circumstances, but may include any or all of the following:

• "For Sale" sign placed on the property, along with take-away information sheets
  
• Placement on the Multiple Listing Service (MLS) -- this is the primary source used by realtors to identify properties for their buyer clients as well as the "feed" for most of the popular Internet property search sites
  
• Open Houses
  
• Flyers that can be posted at your workplace or on public bulletin boards
  
• Print advertising in newspapers and real estate publications

The extent of your participation in marketing details and decisions - e.g. headlines, copy, placement - is entirely up to you. I welcome your collaboration to the extent that you wish to be involved. 
 

6. Showings

While it is important to try to accommodate potential buyers who wish to view your property, we will also try to minimize the disruption to your life by providing as much notice as possible and/or by allowing showings only at certain predetermined times. As a rule, it is best for the sellers to be absent during showings to allow buyers the freedom to explore the property and imagine it as their own.  I will make sure to point out important features, answer questions, and note any reactions or feedback that might help us to market the property.
 
A note on privacy: during showings, it is common practice for people to open closets, medicine cabinets, etc, so please keep this in mind when preparing for showings. 
 

7. Negotiating a Contract

Assuming that we have priced the property appropriately and done our marketing, we should receive an offer in due course. We will sit down together and review the offer price, the buyer’s qualifications, financing terms, proposed dates, and all other terms of the offer. You will have the options of accepting or rejecting the offer or (most commonly) making a counter-offer.

Although it is not unusual for there to be several rounds of offers and counter-offers before reaching an agreement, you will want to avoid a long, drawn-out negotiation. While we certainly want to get the best price and terms possible, there is always the danger (especially in this market, with so much inventory available) of a buyer finding another property or simply walking away in frustration. 
 

8. Satisfying Contractual Obligations

Once we have come to terms and executed a Purchase & Sales Agreement (P&S), there are several critical steps prior to closing:

• Inspections -- Most buyers will include property inspections as a contingency in the P&S (in fact, I always recommend them strongly to my buyer clients). The buyer has a right to nullify the P&S should the inspections uncover any "substantial/materially deficient condition" not previously disclosed. While this is unusual, it is not uncommon for buyers to request repairs and/or a credit at closing for some issues discovered during the inspections.
  
• Appraisal -- The buyer’s lender will require an appraisal to determine the value of the property. While I always try to provide the appraiser with information and data that will support an adequate value assessment, if the property appraises below the sale price, this may require us to renegotiate the contract in order to satisfy the lender’s requirements.
  
• State safety code -- Your property may require certain inspections or certificates before closing -- e.g. residential properties must have a smoke & CO2 detector certificate of inspection prior to closing.

I consider it my responsibility to coordinate communication among all parties -- you, the buyer (or the buyer’s agent), attorneys, the lender, inspectors, appraiser, etc -- to ensure that all contractual obligations are met in a timely manner. 
 

9. Closing

On average, a closing takes place 5-6 weeks after execution of the P&S, though this can vary according to the terms agreed upon by you and the buyer.

At the closing, you will review and sign the financial settlement statement and the legal documents that will pass title to the buyer. There will usually be small adjustments made at the closing for items such as pro-rated property taxes or the cost of any oil being conveyed with the property. You will receive a check for the proceeds after deductions are made to pay off any liens (e.g. your mortgage), attorney’s fees, conveyance tax (.4% in RI), and the real estate commission.

Although our formal contractual relationship ends at closing, I will always be available to answer any questions or to help resolve any subsequent issues regarding the sale.