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SELLERS GUIDE
I-Agent Realty Inc.
Inside you will find a comprehensive guide that goes over the home selling
process. We’ll cover preparations for selling, pricing, marketing, negotiations,
inspections, contract management, and much more. Our goal is to help you
feel comfortable and provide you with all the necessary information ahead of
time, so that the sale of your home is smooth and stress-free.
REAL ESTATE SELLERS GUIDE
TABLE OF CONTENTS
Understanding Your Local Real Estate Market
4
Pre-Market Home Preparations 6
The Benefits of Hiring a Realtor
8
Pricing Your Home Correctly 9
Marketing Your Home 10
A Higher Level of Professionalism
11
Offers and Closings
12
I-Agent’s Biggest Perk
15
About I-Agent Realty
18
REAL ESTATE SELLERS GUIDE
Understanding Your Local
Real Estate Market
BEFORE YOU LIST YOUR HOME, YOU NEED TO UNDERSTAND NOT ONLY THE
CURRENT SITUATION OF YOUR REAL ESTATE MARKET BUT ALSO THE
DEMOGRAPHIC OF THE PERSON WHO WILL BE PURCHASING YOUR HOME.
Is It The Right Time to Sell?
Real estate is a cyclical business. There are
months where it is clearly better to be a buyer
and there are months where it is clearly better
to be a seller. From late Spring until the end of
summer is usually an excellent time to list and
sell your home. (Home buying activity starts to
pick up in March and is in full stride by June.)
The summer real estate market can stay hot
for sellers throughout August and September.
As the holidays get near and the temperatures
start dropping, we tend to see a decrease in the
number of buyers in the market and the number
of houses sold from November to February. If
you’re looking to put your home on the market,
we would recommend doing so between March
and September. You can always list your home
in the slower months, but you should do so with
the mindset that the entire process might take a
little longer.
REAL ESTATE SELLERS GUIDE
Home Inventory to Sales Ratios & Buyer Activity Levels
Knowing the fundamentals of your market can help you be prepared for what to expect in terms of
the transaction as a whole. A Realtor can help to provide you a clear understanding of current home
to sales ratios and buyer activity level/purchases being made monthly in your area. If the current
level of inventory greatly exceeds the number of monthly buyers/purchases being made, it could be
beneficial for you to wait until supply drops so that the buyer doesn’t have most of the negotiating
leverage. Simply put:
Average supply of homes on the market + strong demand = higher average sales price
or
Large supply of homes on the market + low demand = lower average sales price
Demographic
Understanding your potential home buyer is something that shouldn’t be overlooked. Knowing this
can help you to determine what kind of repairs to complete before listing, how to stage your home,
and what type of marketing and/or incentives would result in the highest net sales price. A Realtor
can identify trends, analyze recent sales data, and make suggestions for what home buyers in your
area are seeking.
REAL ESTATE SELLERS GUIDE
Pre-Market
Home Preparations
There are several low-cost home improvements that you can complete to increase the curb appeal
and how your home shows from the inside. A Realtor can take a look at recent home sales in your
neighborhood to see what the fastest-selling and highest-priced homes had in common. You can
then use that information to decide what repairs and/or upgrades to make before listing your home
on the market. Below, you’ll find some quick and inexpensive things you can do before listing your
home.
Outdated light fixtures or poor lighting can
unfortunately distract people from your home’s
most attractive features. Spending as little as
$100 on new fixtures can give the house a more
modern feel and keep buyers focused on its
best attributes.
LIGHTING
When you’re replacing fixtures, don’t forget to
swap out your dim light bulbs for ones with a
higher wattage. You want buyers to be able to
see all of the highlights when they walk through
your home.
You never get a second chance to make a first
impression. For many buyers, what your house
looks like on the outside is just as important as
what it looks like on the inside. If your landscaping is limited to a few patches of dead grass and
some overgrown shrubs, bumping up your curb
appeal should be a top priority.
LANDSCAPING
If you’re on a tight budget, simple things like cutting the grass, raking the leaves, removing weeds
and trimming hedges can make your home
more attractive from the outside. A new mailbox,
some potted plants and a few bags of mulch are
fast fixes that can spruce up your home’s appearance without busting your budget.
REAL ESTATE SELLERS GUIDE
The most important thing to do inside your
home is to declutter spaces. Remove personal items, clear off the dining and coffee table,
and reduce the amount of items that sit on
top of your shelves. You can also move furniture around to open up walkways so that
your home has a nice flow to it.
PaintingHOME STAGING
Time for a family project! A fresh, neutral
coat of paint in key rooms or throughout the
house can do wonders for a home. Also don’t
forget to remove dated wallpaper, whitewash dark paneling, paint the front door, and
address watermarks. Some painting tasks are
easy to do yourself but remember to properly
prepare the area to avoid spills and messes.
PaintingPAINTING
You don’t want your house to be known as
the one with the dirty carpets. Steam cleaning
is relatively inexpensive and can dramatically
freshen up your carpet. Before listing your
home, you should clean the carpet thoroughly, consider replacing worn carpet, and have
old, sagging carpet stretched and fixed.
PaintingCARPET CLEANING/FLOORING
REAL ESTATE SELLERS GUIDE
The Benefits of
Hiring a Realtor
A lot of people ask themselves, “Do I really need a Realtor to help me sell my home?” The simple answer is, “Yes!” Fundamentally, the sale of your home is a formal operation that can have legal implications for you in the process, as well as into the future once the transaction has been completed.
At the most basic level, Realtors provide you a much-needed layer of consumer protection simply
by outlining the rules and best practices to follow. In addition to the obvious legal benefits, there
are many other reasons why hiring a Realtor is an excellent idea. Check out these interesting facts
from the National Association of Realtors from 2014:
88% of sellers were assisted by a real estate agent when selling their home.
REAL ESTATE SELLERS GUIDE
The typical For Sale By Owner (FSBO) home sold for $184,000 compared to $230,000 for agent-assisted home sales.
FSBO take 19 more days to sell than homes represented by a Realtor.
Total number of property sales by FSBO has tumbled from 20% to 9% in the last decade.
For Sale By Owners said the hardest part of selling the home without professional help was:
Understanding and performing paperwork: 18%
Getting the right price: 13%
Preparing/fixing up home for sale: 12%
Helping buyer secure financing: 3%
Attracting potential buyers: 3%
Selling within the planned length of time: 7%
Having enough time to devote to all aspects of the sale: 6%
A Realtor can help with the above struggles. Let’s dive a little deeper into some of the benefits of
hiring a Realtor.
Fair Market Value and
Pricing Your Home Correctly
Pricing your home properly is imperative to your
success. If you price too high, you won’t attract
visitors and your property will sit on the market
for too long. If you price too low, you won’t receive as much as you could have from the sale of
your home. If you don’t price your home properly, your home will probably sit on the market
longer than the average timeframe for your
area—and homes that sit on the market above
the average tend to sell for less than similar recently-sold homes.
A Realtor can help assess the current market situation for your immediate surrounding area, research currently-active and recently-sold homes
to determine an accurate price per square foot
for your home, and adjust the asking price by
comparing the features of your home vs.
REAL ESTATE SELLERS GUIDE
recently-sold homes. I-Agent Realtors complete a thorough competitive market analysis of your
home and provide you with a PDF and excel report. If you would like to see a sample,
please email us at [email protected] with your request.
Marketing Your Home
Along with properly pricing your home, an I-Agent Realtor
will help market your home.
Home Staging Consultation
I-Agent pays for a home staging professional to come into your home, give you
staging tips, and provide you with a customized comprehensive staging report.
Professional Photography
and Virtual Tour
We hire a professional photographer to
come in right before we are ready to list
your home so that we can create a virtual
tour of the property. It’s important to have
20+ pictures available for potential home
buyers to view on the Internet.
Insert Listing into MLS
Inserting your home into the MLS instantly
puts it in front of thousands of real estate
professionals and millions of potential
buyers. Most MLS’s automatically feed the
listing into sites such as Realtor.com, Zillow,
Trulia, and more
REAL ESTATE SELLERS GUIDE
Digital Marketing
Just because your home automatically gets placed
on Zillow, Trulia, and other sites, it doesn’t mean
you’re done. I-Agent has premium accounts with
Realtor.com, Zillow, and Trulia that allow their
listings to move to the top of the search list. We also
have the ability to add additional pictures, information, and virtual tours of the property. I-Agent
Realtors also pay to create custom ads on
Facebook, which can put your house in front of
thousands of home buyers on a daily basis.
Open House
The Internet is a great marketing tool, but so is
traditional word of mouth marketing. I-Agent Realtors spend a full week marketing your open house
to the public in preparation for that Sunday. Open
houses are typically held from 1 - 4 p.m. on the first
or second Sunday after your home goes live on the
market. Open houses are a great way to get buyers
with or without Realtors to come take a look at your
home.
Feedback from Showings
Paying attention to the feedback received from
buyers and agents who view your property is very
important. Responding to this feedback is even
more important. If the majority of buyers or agents
are saying it’s priced too high, it needs X repaired, it
would look nicer if the outside had Y done to it, and
so on, then it is very important to take this feedback
into consideration. I-Agent Realtors call and email
every Realtor that shows your house to request
feedback. We then review the feedback with you
and make any necessary adjustments.
REAL ESTATE SELLERS GUIDE
A Higher-Level
of Professionalism
As mentioned earlier, selling your home is a legal process. I-Agent Realtors are experienced
professionals who know what to expect.
Contracts and Local Real Estate Laws
Although real estate agents aren’t lawyers, they
have to study and pass tests on local real estate
law before receiving a license to buy or sell real
estate. Realtors also have easy access to all the
necessary legal contracts and they understand
how to close on your house while keeping your
best interest as their top priority. If there is
ever a question we can’t answer, we have direct access to the resources that can help make
sure we are working within the necessary legal
boundaries.
Contract/Transaction Management
Finding a buyer is just the first of many steps
involved in selling your home. Reviewing contracts, negotiating, having all of the correct addendums, managing each contingency deadline
so that your best interest is protected, working
with title companies to help record and process
your sale, and much more are all factors that go
into properly and successfully selling your home.
I-Agent Realtors are full time agents whose sole
responsibility of their job is to look out for your
best interest.
REAL ESTATE SELLERS GUIDE
Accepting an Offer and Getting to
the Closing Table on Time
So, you got an offer…now the fun really begins!
Once you have an offer in hand, you have a
couple of choices: You can accept the offer if
you agree with all of the terms; you can reject
the offer if you think both parties are just too
far apart; or you can counter their offer with
new terms.
There is more to an offer than just the price.
When you have the offer in hand, you need to
take into consideration the price, closing costs,
buyer’s financing/preapproval letter, home
inspection contingency, finance contingency,
appraisal contingency, home warranties, rent
backs, title company, and the closing date. Once
you’ve agreed to terms with the buyer, there
is still a long road ahead toward a successful
closing. A licensed Realtor can help guide you
and manage the transaction to ensure there
aren’t any unexpected issues that delay closing. Below, we talk about the different parts of
the offer and contract management in detail.
REAL ESTATE SELLERS GUIDE
Different Parts of the Offer and Negotiations
When looking at the financial side of the offer,
it is best to look at the offer in terms of net proceeds to you at closing. What we mean by this: If
you sell your home for $290,000 and $0 closing
cost assistance or $300,000 and $10,000 closing
cost assistance, your net sales price is $290,000.
It can sometimes be easier for a buyer if you help
them with closing cost; it could be the difference
between getting a buyer to agree to your terms
or them walking away.
When offering closing cost, it’s crucial that you
have an accurate estimate for the value of your
home. In the situation mentioned above, a Realtor can help assess if the property will appraise
for $300,000 or if you should counter with the
$290,000 and $0 closing cost option. Realtors
aren’t appraisers; however, if they are good at
analyzing recent sales data, then they should be
able to guide you properly.
Some terms to know :
Offer Price : The price a buyer is willing to pay for your property
Ratified Price : The price a buyer agrees to buy and a seller agrees to sell a property for.
Closing Cost Assistance : The amount of money the seller is willing to give towards the buyers
closing costs
Buyer’s Financing/Preapproval Letter : Letter from a bank or mortgage broker that states the
credit worthiness of the buyer and where he or she stands in the loan approval process.
Home Inspection : A contingency that gives the buyer X amount of days to complete a home inspection and then requests/negotiate repairs from the seller.
Lead Based Paint Inspection : A contingency that gives the buyer X amount of days to have the
house tested for the presence of lead based paint. The inspector will usually scrape a couple of
pieces of paint from the wall and then send it to the lab. Lead based paint was used on and before
1978. In 1978 the use of paint with lead in it was banned. If lead based paint is found, the buyer and
seller then negotiate how to remedy the situation.
REAL ESTATE SELLERS GUIDE
Radon Inspection : A contingency that gives the buyer X amount of days to have the house tested
for an odorless, cancer causing gas. If radon is found, the buyer and seller then negotiate how to
remedy the situation.
Well/Septic Inspections : A contingency that gives the buyer X amount of days to have the well and
septic systems tested. This is only for homes that do not sit on public utilities. If issues are found,
the buyer and seller then negotiate how to remedy the situation.
Termite Inspection : Termite inspections are mandatory on all properties except condos. The
lender requires a clean termite inspection report. If termites and/or termite damage shows up, the
seller usually pays to treat the issue. If it involves large costly repairs, it can become a negotiation
between the buyer and seller.
Finance Contingency : A contingency that gives the buyer X amount of days to submit all paperwork to their lender and to have every aspect of the loan approved pending a successful appraisal.
Appraisal Contingency : A contingency that gives the buyer X amount of days to submit get an
appraisal completed. If the appraisal comes in lower than the contract price the buyer can either
ask the seller to drop the contract price to the appraised value, the buyer and seller can agree to a
value somewhere between the appraised and contract amount, or the seller could walk away from
the deal all together.
Home Warranty : The buyer can request that the seller pay for a 1-year home warranty. These can
range from $399 to $999. The seller does not have to agree to pay this; the home warranty is negotiable.
Title Company : By law, the buyer has the right to select the title company he or she wants to handle the purchase. What exactly does a title company do?
Conduct a thorough title search to make sure the title is free and clear of any liens.
Make sure ownership belongs to the actual seller listed on the contract.
Prepare HUDs and other documents needed to sign for closing (loan documents, county transfer docs, etc.)
Provide the buyer with title insurance options.
Facilitate the entire closing process between the buyer, seller, lender, agents, and the county.
File all documents with the county to officially record the sale of your home.
Closing/Settlement Date : The day the buyer and seller agree to sign all documents and complete
the sale of the property.
Contract Management
All the items mentioned above can have different timelines/expiration dates for the contingencies. To avoid closing delays, all parties need to have all the documents and do their parts. When it
REAL ESTATE SELLERS GUIDE
comes to contract management, having a Realtor can be really helpful. When certain deadlines are
coming up, he or she can remind the buyer’s agent or the buyer that they need to submit certain
documentation by a certain time period or they risk being at default. I-Agent has full time Realtors
whose priorities revolve around your best interests and that we make it to closing without any delays.
I-Agent’s Biggest Perk
Simply put: Instead of paying 6% to a traditional realtor, you only pay I-Agent 4.5%. Combine this
proposition with our top-notch listing program that utilizes traditional real estate methods with
new, proven Internet-based strategies and you can see why your home will be sold faster and for
top dollar.
Fee Structure
Most agents will charge you 6% to sell your home; 3% of that goes to the agent who brings the buyer and 3% to the agent you hired to sell your home. I-Agent charges 4.5%; 3% goes to the agent who
brings the buyer and 1.5% goes to us.
For example : If you’re selling your home for $300,000, you would pay $18,000 in commissions with
a traditional Realtor. With I-Agent, you would pay $13,500, for a savings of $4,500. Just because we
offer a discounted listing program doesn’t mean we don’t do everything the other companies do.
The chart below will give you a good idea of what we do vs. what our competitors do.
REAL ESTATE SELLERS GUIDE
I-Agent vs Other
Real Estate Companies
Insert Listing
in the MLS
Other Real Estate
Companies
- - - - - - -- - - - - - - - - - - - - - - - - -
Host an Open
House to the Public
- - -- - - - - - - - - - - - - - - - - -
Professional Photographs
of Your Home
- - - - - - - - -- - - - - - - - --
-----------------
- - - - - - - - --
Professionally designed
print brochures
------------------
- - - - - - - - --
Install a Sign Out Front
with Flyer Box
------------------
- - - - - - - - --
-----------------------
- - - - - - - - --
Virtual Tour of
Your Home
Showing Service that will Schedule
via Phone, Text and/or Email
Realtor Comment Reports
After Showings via Email
-----------
- - - - - - - - --
----------------
- - - - - - - - --
Professional Pre-Listing Home Staging
Consultation w/ Written In-Depth Report
Advert in Richmond
Times Dispatch
-------
- - - - - - - - --
--------------------
- - - - - - - - --
Zillow Featured Listing (brings your
listing to the top of the search results)
----------
- - - - - - - - --
Trulia Pro Listing (brings your
listing to the top of the search results)
----------
- - - - - - - - --
Paid Facebook Ads Geotargeted to Home
Buyers Within a 25 Mile Radius of Your Home
Weekly updated
Craigslist Postings
-----
- - - - - - - - --
--------------------
- - - - - - - - --
I-Agent
Realty
REAL ESTATE SELLERS GUIDE
Free Home Valuation
If you would like for one of our Realtors to complete a home valuation on your home, simply email
us your property address, description of your home, and your contact information to
[email protected]
50% Commission Rebate When You Purchase
If you’ve sold your home and you’re in the market to
buy again, we offer full service representation and we
will share 50% of our commission with you.
For example: If you’re buying a $400,000 home, most
Realtors representing home buyers will make 3%,
which is equivalent to $12,000, but they share $0 of
it with the buyer. An I-Agent Realtor would give you
$6,000 while they make $6,000. Visit www.iagentrichmond.com to learn more about our Realtor commission rebate program.
REAL ESTATE SELLERS GUIDE
About I-Agent Realty Inc.
Realtor & Residential Real Estate Specialist Located in Richmond, VA.
The mission statement of I-Agent Realty is to provide unparalleled client services to home
buyers and sellers while providing the largest Realtor commission rebate in Central Virginia. Even though we give a commission rebate and a discount on our listing services, that
doesn’t mean the professionalism and contribution from us will be discounted as well. We
strive to provide services above and beyond any current full service real estate brokerages. We accomplish this by placing the client’s needs above our own at all times. We use
traditional methods of client services while embracing technology and we strive to adapt
and stay ahead of all the local market real estate trends. Our primary focus is to make
sure the client feels optimistic and confident in every step of the home buying or selling
process. By doing this we ensure the process is exciting, enjoyable, stress free, and fulfilling for our clients. We want to create a positive lasting impression to ensure I-Agent Realty will be your real estate representatives for life.
Thank you for allowing us to go over our sellers guide with you. If you
have any questions about the home selling process, would like to request
a free property valuation, or just want to discuss real estate, call us at
804.625.1676 or email us at [email protected]. It would be
a privilege for us to be able to help and guide you with the sale of your
home!
I-Agent Realty Inc.
3600 Chain Bridge Road, Suite 100
Fairfax, VA 22030
and
4001 Springfield Road, Suite 200
Glen Allen, VA 23060
Phone: 804.625.1676
Email: [email protected]