Hitting a Target in the Dark
Listing a home for sale is no small task. Counseling sellers on prepartion projects, getting photos taken and creating a description of a home that draws in buyers is only a very skeletal part of the job. Understanding what your seller needs from the process is essential. Basic questions that I ask at a listing appointment include:
- Are there any items that do not stay with the home?
- Are there items that you want to leave with the home?
- Where are you moving?
- When you do need to move?
- Do you need the funds from the sale of this home to buy your next home?
- Is there a particular settlement date that works for your situation?
- Are there any appliances that are not functioning that you don’t plan to fix?
These questions provide a framework for how the sales contract needs to work for my sellers. For instance, if a seller has gone under contract to purchase a home and needs to settle quickly, or needs a rent back, that is important information for a buyer and their agent to know.
One of the wonderful things about our MLS (Multiple Listing Service) is the ability to add documents for agents to see. In my listings, I love to provide what I call an Offer Info Sheet. There are many fields in our standard Residential Sale Contract that a buyer’s agent won’t know how to complete without looking through photos or cross referencing other sources. Owner names, conveyances, license numbers, where seller notices are going, etc. In the Offer Info Sheet, I provide information so that offers come in complete and have a shot at working. Preferred settlement date is always in there if needed.
In some cases, settlement date is critical. If a seller has already gone under contract to purchase another home on a specific date and needs the funds from the existing home sale to do that deal, the settlement date needed is critical information for those making offers. If you haven’t provided it in the MLS through remarks or some semblance of an Offer Info Sheet, when a buyer’s agent asks a specific question about the settlement date, you should be ready with the answer if you are committed to the best outcome for your sellers. Being caught off guard and stating your seller needs a quick settlement date AFTER you have received one or more offers is not the best way to get what your seller needs. Yet, these are things that happen in the practice of real estate that make me scratch my head.
My seller-clients never have to wonder if I am prepping buyer’s agents, or buyers, for what are mission critical goals. In the multiple offer situations of 2020 and 2021 that yielded offers in the double digits on many properties, my seller-clients were amazed to see that ninety-nine percent of offers met whatever settlement date or post settlement occupancy was requested. (There are always the one percent of buyer’s agents that never look at Offer Info Sheets, or the like provided by listing agents.) It is no less impressive when a seller has one offer that checks their boxes.
When selling a home must be within a specific time or have other critical components to work, don’t leave it to chance. Hire a listing agent that understands communication is the key to a successful, smooth transaction. In Gainesville, Bristow, Haymarket and points beyond, I am happy to meet and discuss how we can get it done.
The opinions expressed in this blog are those of Chris Ann Cleland, not Long & Foster. All content is written by Chris Ann Cleland without the aid of artificial intelligence.