Sellers’s Guide
01
Let’s Talk!
Let’s meet to discuss your plans and goals, trends in the current marketplace, and assess your property’s specific qualities and characteristics. Often times the valuations you may find on other online platforms are not taking into account any updates you’ve made to the property. We will analyze comparable property sales, assess the competition, work with you to determine pricing strategy, and outline a strategic plan to achieve the best possible result for you as a seller.
02
Setting the Stage
We will coordinate with multiple vendors / tradespeople on your behalf and with your approval to ensure the property is visually ready for showing.
This can range from scheduling a professional photo shoot, stagers, any repairs / updates to the property (check out Compass Concierge!), and prepare a listing description.
At this time, we should sit down and complete the Seller Disclosure documents that will be necessary for the transaction.
03
Going Live
Your property listing is showcased on Compass.com and sent across our 100+ partner sites for the duration of the selling process.
04
Spreading the Word
I will develop and execute an intelligent, effective marketing plan. The Compass marketing team will produce beautiful print and digital collateral to strategically showcase your property. Eye-catching yard signs are produced and can be placed outside your property.
05
Making Connections
I will continuously leverage professional contacts and the Compass Network Tool to find ideal buyers and brokers. Open houses are hosted for both brokers and clients on an ongoing basis.
06
Building a Strategy
I will conduct an assessment of the market response within the first couple weeks your listing is live. Feedback from agents and buyers is aggregated, and the listing strategy is revised if necessary.
07
Communication & Measuring Success
You and I will establish the best method and frequency of communication. I will provide frequent updates and continuous traffic metrics, as well as information about the market.
08
Receiving an Offer
Once an offer is made, I will contact you to review the terms of the offer and to analyze the pros and cons. Together I will help you decide how to respond to the buyer in one of several ways: by accepting the offer, rejecting the offer, or making a counter offer(s).
09
Negotiating the Details
The contract is negotiated and accepted, and the transaction summary is circulated to all parties. I will observe and record all contingency periods throughout the in-contract stage. A property appraisal and home inspection take place, and any further negotiations are managed. All financial and supplemental information is collated and submitted to the managing agent.
10
Completing the Close
I will monitor and coordinate all the details necessary to get you to the finish line. Once the buyer has performed inspections, removed their contingencies, and the loan (if any) is ready to fund, we'll arrange the final walk-through. Finally, at closing you will hand over keys to the buyer.
Key Terms
APPRAISAL
Assessment of the property’s market value, for the purpose of obtaining a mortgage and performed by a licensed appraiser.
ASSESSED VALUE
Value placed upon property for property tax purposes by the tax collector.
CLOSING COSTS
Expenses incidental to a sale of real estate, such as loan fees, appraisal fees, and title insurance.
CLOSING STATEMENT
The statement which lists the financial settlement between Buyer and Seller, and the costs each must pay.
CONTINGENCY
Certain criteria that have to be met in order to finalize the sale.
DEBT-TO-INCOME RATIO
The percentage of an individual's monthly gross income relative to the amount of debt owed.
EARNEST MONEY DEPOSIT (EMD)
A good faith deposit the buyer makes with an offer to show that you are serious about buying the property. In exchange, the seller agrees to stop marketing the property.
FINAL WALKTHROUGH
The buyer reviews the house just before closing to make sure everything is in the same condition and that all home inspection items are fixed.
INSPECTION
An expert conducts a formal review of the property to find visible issues that need to be repaired. Buyers typically make their offers contingent on an inspection, but sellers can conduct a pre-offer inspection to appeal to buyers. The buyer may choose to do additional inspections like radon and a sewer scope.
LIEN SEARCH
A background check on the property and the seller to ensure there are no outstanding debts or claims upon the property.
PRE-APPROVED
Advanced approval from a bank or other lending institution for a home mortgage.
PRE-QUALIFIED
Potential buyers provide an overall financial picture and mortgage brokers provide an estimate of what level of loan you will likely be pre-approved for.
TITLE INSURANCE
Insurance to protect the buyer and lender against losses arising from disputes over the ownership of a property.
RECORDING FEES
A fee paid to the local government to officially report a sale of a home; usually paid by the buyer.
Work with Steven
A Tech Recruiter turned Realtor, Steven offers a distinctive combination of interpersonal skills, deep market understanding, and a steadfast commitment to excellent service. His journey has evolved from matching skillsets to matching lifestyles, and he thrives on the joy of assisting clients.
