Before you can be honest with anyone else, you have to be honest with yourself first. The first step to effective communication is knowing what YOU truly feel and what you really want to say. Before talking to an agent, be sure that you are 100% ready to sell your home. You don't want to make impractical decisions, so you need to ask yourself the difficult questions. Make sure that you're selling your home for the right reasons, and not just because you're under a lot of pressure to upgrade or to relocate. Ask yourself if it is indeed a more logical choice to sell right now, or should you actually wait a while until you're sure that you're truly ready.
When communicating with your agent, transparency is key. Once you sign an agreement with your agent, he or she has the legal obligation to represent only your interests in all negotiations, so it's very important that you disclose every detail.
In order to identify and leverage your home’s strengths (and address its weaknesses without compromising the final sales price), your agent needs to know everything there is to know about the sale--such as your reasons for selling, potential problems the house may have, the time frame in which you expect to sell, etc. Likewise, if you think that your agent might be keeping his/her reservations to him/herself, or if you sense some apprehension, you are within your rights to ask for disclosure.
Note: If your reason for selling is quite sensitive (say, you and your spouse are going through a divorce), you can ask your agent to keep this private.
When working with a listing agent, you'll have to communicate A LOT--most likely on a daily basis. This makes it very important to maintain a healthy professional relationship at all times, and the best way to achieve this is to establish a communication plan with clear and healthy boundaries.
Set your preferred methods of communication and manage your expectations when it comes to getting responses. If you’re better reached through your mobile number instead of email, make sure that your agent knows. Communicating on so many different platforms makes it hard to track your progress, so try to find one (or two at most) in which you can be sure to reach each other more effectively.
Also, this may not be an issue for highly motivated sellers and agents, but some people do not want to be called at unreasonable hours. If you’re the type of person who is comfortable being updated only between certain times in the day, then it’s best to say so early on. This also goes both ways; even though you’re paying for your agent’s services, it’s proper etiquette to set a window for phone calls and texts.
If this is the first time you're faced with the challenge of selling your home, there may be a lot of information to process. If you’re not sure about all the real estate jargon being thrown around during discussions, don’t hesitate to clarify with your agent. This will ensure that you’re both on the same page at all times, and will prevent misunderstandings that can delay the sale of your home.
It's hard to keep emotions in check when you’re trying to sell a home you’ve lived in and loved for a long time--which is why if a potential buyer offers below your listing price, you can get offended quickly and end up dismissing a reasonable offer.
Sure, the asking price is usually an area of conflict between the seller and his agent, and it’s no secret that some agents have the tendency to encourage sellers to settle for a lower price than what was originally expected. However, don’t jump into the conclusion that your agent is not on your side. Ask yourself (again, honestly) if your emotions are causing you to become slightly realistic about how much your house is worth. If your house has been sitting on the market for a while now, this may be a sign that you’ve priced it too high--and that waiting for more offers might drive the price down even further.

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Pre-Approval

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Write offer

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Under Contract or Escrow

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Appraisal

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Inspections

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Closing

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Counseling Session Activities
- Prepare the buyer for executing a buyer representation agreement
- Explain agency relationships to the buyer and get state required legal consent to represent, if needed
- Inform the buyer of working relationship based on state law, the REALTORS® Code of Ethics, and the broker’s business policies
Building a Relationship
- Learn the buyer’s wants and non-negotiable needs
- Understand the buyer’s budget and what will be needed financially
- Help the buyer understand what property their chosen budget will buy
- Consider having the buyer fill out a homebuyer’s checklist
- Assist the buyer in examining how much they can afford to spend
- Provide quality lender resources
- Partner with the buyer to locate suitable properties for consideration
- Match the buyer’s needs with available property
- Constantly re-evaluate buyer’s needs and refocus property showings to fit those needs
- After ensuring the buyer understands what is done for them, how it is done,and the benefit to them, obtain signatures on the buyer representation agreement
- Explain how compensation is paid, who pays it, and what the buyer’s options are for paying it
Educating the Buyer
- Communicate the working relationship based on state law, the REALTORS® Code of Ethics, and the broker’s business policies
- Explain Federal and State Fair Housing laws
- Explain what to look for in applicable property disclosures
- Reassure the buyer that their personal information will remain confidential
- Inform the buyer that you will always disclose all known material defects
- In accordance with state law, provide information on checking the sex-offender registry and crime statistics for the neighborhood
- Discuss available resources that the buyer can check to learn more about prospective neighborhoods

Preparing the Buyer
- Explain the timeline for house hunting, mortgage approval, and closing
- Explain the local market and how it impacts the buyer
- Show statistics on what percentage of list price sellers in the area are currentlyreceiving
- Inform the buyer on what home features are popular
- Identify current average days on market
- Share the dangers of using the price per square foot to figure home values
- Explain the concept of absorption rate and how it impacts the buying process
- Indicate current listing months of market inventory
- Share estimated potential out-of-pocket costs to complete the transaction
- Assist the buyer in analyzing the loan estimates
- Qualify the buyer for financial ability to purchase
- Help the buyer account for the complete costs of homeownership
- Prepare lender for listing agent calls
- Assist in comparing different financing options
- Help the buyer select for viewing only those homes that fit their needs
- Proceed in showing homes that fit the buyer’s must-haves
- Caution the buyer on posting information to social media
- Review the sample sales contract so the buyer is prepared when it comes time to make an offer
Showing Properties
- Schedule showings and provide access to all listed properties as soon as they become available in their local MLS broker marketplaces
- Educate the buyer on the immediacy of new listings appearing in their local MLS broker marketplaces and the lag time for them to appear on some websites
- Collaborate with the buyer on properties they may have learned about through their sphere contacts
- Research and assist on all unlisted properties the buyer wishes to see
- Preview properties prior to showing if needed
- Network with other agents to source properties not yet in their local MLS broker marketplaces
- Contact homeowners in focus areas to see if they are considering selling
- Set up an automated email alert system through their local MLS broker marketplaces that immediately notifies the buyer of properties that fit discussed requirements
- Arrange a tour of areas, schools, and key points of interest
- Provide resources containing neighborhood information on municipal services,schools, etc.
- Inform the buyer of negative aspects like nearby venues or operations that may result in issues that could impact value
- Collect and share any other vital information on available homes, remembering to follow all fair housing laws at all times
- Check applicable zoning and building restrictions
- Help the buyer decipher public property and tax information
- Collect and share pertinent data on values, taxes, utility costs, etc.
- Compare each property shown to the buyer’s wants and needs list and remind them of what they were looking for
- Help the buyer narrow the search until the buyer identifies top choices
Negotiating Offers
- Assist the buyer in getting the best property at the best price
- Suggest that the buyer learn more about the neighborhood prior to makingan offer
- Prepare a comparative market analysis (CMA) in advance of making an offer
- Prepare the buyer to have the most attractive offer in the current marketplace
- Explain common contract contingencies and include approved protective clauses in the purchase offer
- Ensure that the buyer receives and understands all state and federally-required disclosure forms
- Prioritize contract negotiation goals with the buyer
- Help create a negotiating strategy
- Use strategies such as an escalation clause to maintain a competitive offer
- Prepare the buyer for a multiple offer situation and develop negotiation strategies
- Write an offer that has a reasonable chance of being accepted
- Recommend optional contingencies and explain the pros and cons of using them
- Provide information on purchasing incentives that may be available
- Discuss financing alternatives
- Negotiate the buyer’s offers to arrive at the best price and terms
- Utilize hyperlocal expertise and strong communication skills to assist the buyer in being the successful offer

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Starting August 17th, 2024

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