Dana Post – Realtor, Broker, ABR, SRES

Many people believe that Christmas is the season of miracles.  But even if you don’t believe in miracles, you believe in results! When it’s time to sell or buy a home, everyone wants it to be quick, easy, profitable and/or financially beneficial.

Let me tell you the story of Mike and Sue.  Not only is it an inspirational real estate miracle, but there are great educational points in their story that could help you sell your home and purchase a new home in a smoother, more efficient manner.

The facts are: We listed their home Nov. 17 and it closed Dec. 4.  They wrote up a purchase on a new home and it closed Dec. 13.  26 days and they have a whole new life, which was their goal!

<–SOLD!

Bought->

I feel so blessed to know Mike & Sue and to be a piece of their Christmas miracle and real estate success!

Here are our lessons learned, about how to sell a home quickly and purchase a home quickly, that I’d like to pass on to you:

1. Plan Ahead.  I cannot stress enough how prepared Mike was to sell.  Before I met him, Mike had already worked for months and months, to prepare his home to hit the market. He was remodeling, painting, cleaning, de-cluttering, and meeting with several real estate agents to examine his options.  He was also searching homes in his desired areas, keeping tabs on his local market, driving by homes, and examining his finances.  He wanted several home options before putting his home on the market, so that, if his home sold quickly, he would have immediate options of new homes to purchase.

2. Have your credit report and home loan preapproval prepared ahead of time:  Again, all credit to Mike for having his finances fully examined before we met. Mike met with several lenders while he was remodeling and preparing his home for sale. He wanted to be sure his credit and loan options were 100% prepared before hitting the market. He did the work and had his home loan preapproval before his home hit the market.  We got an offer on his home fully signed around within 4 days and he was able to confidently write up a new offer on his desired home within just a few days afterwards!

3. Have confidence in your Realtor: Mike had been home shopping online for several months before we met.  He invited several real estate agents to his home before we met. He gathered several opinions regarding needed preparation, pricing, and marketing strategies for his home.  Before Mike called me, he had seen my sign on a home he was interested in.  He researched me, my website and  my listings before we met.  When he invited me to his home for a free comparative market analysis, he had already met with several agents and done the same thing.

According to Mike and Sue, our appointment was different. I listened. I heard their goals. I presented market data, not just my opinions. I did not have a conflict of interest, by trying to get them to buy one of my listings. I listened.  I heard that they wanted a quick sale more than they wanted to be unrealistic or stubborn by pricing too high.  They were ready to move and start their new lives together.  They did not want multiple months on the market.  Their goal was to stop repairing and remodeling with every spare moment of their lives.

We invited several inspectors to the home to analyze its condition.  We consulted with our title experts at Pacific Northwest Title. We analyzed their home’s condition and the title report and agreed to sell it as-is,  which meant starting with a lower list price.  I presented them with current market data and high, medium, and low price opinions for their home, and I empowered them to make the pricing decision. Their goal was a nice, new home and some low-maintenance living as soon as possible. No more fixer-uppers. We invested time together, viewing every other actively listed home in their price range, before making an educated decision.

Also, Mike and Sue trusted my Keller Williams West Sound real estate team.  I had a vacation coming but that did not phase them.  They knew I had a trusted team in place so that no matter what happened, their customer service would be excellent and full of integrity.

4. Have realistic expectations: Selling a home can take 6 hours or 6 months.  It is not always clear.  What is clear is the data. Generally speaking, if you have it priced higher, be prepared for more market time.  If your goal is to relocate quickly, and you know the home requires additional work, then price it accordingly.  When choosing a Realtor and pricing your home, look at the cumulative days on the market:  Look at the sold prices but also look at how many days it took the sellers to receive that price.  Recent solds (within the past 3-6 months) in your particular demographic area are your most accurate source of information.   Be clear on how to best prepare your home to show most favorably. Have it as fully cleaned and staged as possible.  Be flexible with appointment times.

Mike and Sue wanted a quick sale, they analyzed the most recent market data and  priced their home accordingly.  They worked hard to clean and stage the home.  They accomodated all requested showing appointments… and they were under contract within 4 days of hitting the market!

5. Commit to hard work: before the sale, during the sale, and after the sale: Selling a home takes work.  It requires more than remodeling, cleaning and staging. It requires intelligent research, consulting with a Realtor, analyzing data, and getting all of your personal financial “ducks in a row.”  How much profit do you need to accomplish your future goals and what is the best strategy to make that happen?  If you don’t know, who can you consult with and trust to come up with the best plan?

Again, miracles DO come true.  In today’s real estate market, it IS possible to sell quickly and purchase quickly.  You can still make a profit and move on and accomplish your goals.  I hope these lessons from Mike and Sue give you hope as we head into 2013!