How We Market Selling Your Home (and why we do it that way)

Knowing the right way to market your home to sell is vital. Market Source Real Estate has been providing home sellers with excellent service and extensive local expertise since 2007, securing the highest price and quickest sale possible for you in the best and worst times in the market. We excel in evaluating homes, making them better with staging, advising of needed repairs and setting the right price to get the best outcome for our sellers. We set realistic expectations based on anticipating repairs needed after a buyer’s home inspection, preventing most of the typical drama that comes up during a sales transaction.

Staging:

Staged homes sell an average of 17% faster than homes that are not. There are many statistics to be found from many sources but staged homes also appear to sell for 1-5% more than a home that is not staged. We work with many different staging companies so we can tailor staging services to each unique home’s needs.

Photography/Video:

Professional photos and/or video tours of your home is a part of your listing which greatly helps our marketing efforts. If you don’t have great photos, most people will not make an appointment to see your home!

 

Signage:

When Market Source Real Estate lists your home for sale, a professional, oversized and easy to spot sign will be placed in your yard. Our company colors have also been specifically chosen to stand out. The two most memorable colors in marketing are red and yellow.

Community Outreach:

We will implement the appropriate community outreach strategy either through sending out flyers, alerting neighbors through community social media sources, sending postcards to neighborhoods or reaching out directly to neighbors to try to secure a buyer for your home.

Open Houses:

If determined to be in the right location for open houses, we will also host open houses at your home. Only 1-3% of homes sell from an open house but it can be effective if your home is in a high traffic area or fast-moving market.

 

MLS/Website:

We market homes for sale on the MLS and utahrealestate.com, where most buyer’s agents are searching for homes as well as saltlakeopenhouse.com, redfin.com, facebook.com, thinksaltlakecity.com, realtor.com, ksl.com, youtube.com and all other brokerage websites that broadcast MLS feeds.

Social Media:

In addition to advertising your home for sale on websites, we will create a branded social media strategy for your listing so we can best target potential buyers for your home through the appropriate social media channels. Our developed social media channels include: Facebook, Instagram, Twitter, and YouTube.

Showings:

Sellers should be aware that same-day and even last-minute requests for showings are
common, so a seller with a ‘24 hour notice to show’ stipulation often cuts himself out of a good chunk of the buying market.
In Utah the standard is 24 hours notice.

Checklist for Sellers

We take a holistic approach with our clients and consider every detail of buying or selling a home and how it will affect our client’s lives. Buying and selling homes tends to be one of the largest financial transactions of a person’s life. Finances aside, choosing to sell or purchase a home affects a person’s health and lifestyle as well.

 

Here is a checklist for selling your home we think you may find helpful:

 

  1. Pricing your home to sell. Home sale prices directly correlate with days on the market in our current market conditions.
    When a home is on the market for more than 30-60 days (generally in the $500,000 and below range), buyers perceive that there is a problem with your home and your offers will tend to get lower and lower with time.
  2. Home Inspection Issues. We can identify potential inspection issues for you when walking through your home and
    consult with you on repairs so that your sale will not fall through based on inspections. You might also consider getting a pre-listing home inspection to avoid complications during your sale as there are things we will not be able to see.
  3. Home Warranty Coverage. Some homeowners get frustrated by a home warranty because they assume they can hire anyone they want to make a repair and that if something is broken or old they can simply have the item replaced by the warranty policy. Home warranties offer important protection from unexpected repair bills, but they won’t usually be enough to replace an item that has worn out, had pre-existing problems, or were improperly maintained.

4. Seller Disclosures. These disclosures provide a wide range of information. Overall the basic premise of the disclosure is to have the seller explain any known material or legal defects with the property. Some of the items to expect in the disclosures are the seller’s knowledge of any zoning or legal violations on the property, legal actions affecting the property, location within a Greenbelt, damage to the roof, past-due utility payments (ones that affect title), problems with culinary water, damaged sewer or septic tanks, damaged heating and cooling devices, etc.

A. Fraud. In Utah, lying on a seller’s disclosure in a way that induces a homebuyer to purchase your home is fraud. For instance, if you were to say that you’ve never repaired leaks in the basement, but in fact have patched an area that’s now hidden by boxes, that would be a lie. Don’t do it. Fill out the seller’s disclosures, and fill them out honestly.

B.  Fradulent Nondisclosure. Fraudulent nondisclosure involves failing to disclose a material defect. For example, if you

were to incorrectly claim that you never noticed any leakage in the basement at all, that would be a nondisclosure.

7. Staging.Before listing your home it is important to have your home looking its best. Staged homes sell an average of 17% faster than homes that are not. There are many statistics to be found from many sources but staged homes also appear to sell for 1-5% more than a home that is not staged. We work with many different staging companies so we can tailor staging services to each unique home’s needs.

8. Marketing. We achieve high list-to-sale ratios and very low days on market in contrast with other brokers. We excel in evaluating homes, making them better with staging, advising of needed repairs and setting the right price to get the best outcome for our sellers. We set realistic expectations based on anticipating repairs needed after a buyer’s home inspection, preventing most of the typical drama that comes up during a sales transaction.

9. Showings. Sellers should be aware that same-day and even last-minute requests for showings are common, so a seller with a ‘24 hour notice to show’ stipulation often cuts himself out of a good chunk of the buying market. The only standard lag time that should be necessary is when you must give ample notice to a tenant. In Utah the standard is 24 hours notice. Once a house gets tagged as difficult to show by agents, you won’t receive as many calls to show it.

Home Buyer Checklist

Our mission is to guide home buyers and sellers through one of the biggest financial decisions of their lives. We strive to make buying and selling homes a smooth process where our clients feel empowered with information and shielded from complications.

We hope this checklist helps you through the process of buying a home.

 

1. Get Pre-approved for a mortgage loan and establish a budget. This important step will illuminate any disappoints by avoiding looking at homes outside of your budget or what your qualify for.

 

2. Identify what type of property you would like to buy (condo, townhouse, single family home, duplex etc.)

3. Identify what locations are acceptable for your new home. Consider public transit, schools, grocery stores, shopping etc.

4. See prospective homes with your agent. This can be daunting but so much fun!

5. Write an offer on a home and get it accepted! Keep in mind sometimes negotiations will need to take place.

6. Once you have an accepted offer, follow your agents instructions for providing earnest money, ordering a home inspection and starting the loan origination process with your lender.

7. After inspections are complete and the appraisal is completed, usually the transaction will go through so it is time to start packing and planning your move.

8. Contact movers 1-2 weeks ahead of time as a minimum to be sure your timeline can bet met. And start packing!

9. Less than one week before closing you will need to set up utilities to be inyour name, homeowner’s insurance to start. We will provide you with the contact info for your utility providers.

10. On the day of closing or day prior to closing, you will need to wire your down payment and closing costs to the title company for closing. After your loan funds and the deed records, you are the new owner of your home! Your agent will arrange to get keys to you so you can take possession.

Stress Management for Home Buyers

Everything about moving can be stressful. We have a few tips to help you manage stress during the process. From the selling or buying of a home to the packing and unpacking, there are moments of excitement and moments of anxiety so having your ducks in a row so to speak will help make the later moments minimal.

Start Small– this will allow you to see progress along the way and hopefully keep you motivated without the tasks seeming to daunting. Whether that is packing up all the bathroom drawers only leaving items that you may need up until moving day, to picking a section of basement or garage to make some headway.

 

Allow for plenty of time– trying to rush through the moving process will do nothing but put added stress on the situation. Pre-planning for moving trucks etc., will help you also feel more prepared. Try not to leave anything to the last minute.

Try to stay organized– sorting and labeling boxes is the key to having a less stressful unpacking experience. This includes keeping all documents you may need in an easy to access place. Upfront planning is essential to coordinating all the ‘moving’ parts.

 

Hire professional movers-if you can fit it into your budget, having professionals come and pack the truck, haul the items, and unpack the truck in your new space is a lot less work for you. In addition, it will not only save your back from heavy lifting but will give you peace of mind knowing all your stuff is in one place.

Ask for help– if you need it, ask! Family and friends are a great resource if you are feeling overwhelmed by the move. Having an extra set of hands or two, can help tremendously.

 

Meet your new neighbors– who knows, they may even be nice enough to come help you unpack.

 

Rest– be sure to rest when you need too. Try and get as much sleep as possible and drink plenty of fluids. This will help you both mentally and physically.

 

 

Yes. Buying a Home Can Be Stressful.

Yes. Buying a home can be stressful.

Hiring a professional to buy or sell a home is a good way to assist you in dealing with some of the stress points during a real estate transaction. Often times, buyers and sellers are unaware of all the possibilities that may come into play when purchasing a home or selling one. Your realtor is a trusted resource that will help you remain calm.

Here a just a few to consider:

 

  • Sometimes you will have to write many offers in our competitive market before you will secure a contract.

  • Sometimes home inspections do not go well and negotiating repairs can be stressful.

 

 

  • Sometimes closing gets delayed or there is an issue getting your keys once closing has occurred.

  • Often sellers may accidentally leave items at the home that are unexpected or leave the home less clean than anticipated. This can cause extra work to be needed before you may want to move in.

 

  • If you do not understand the home buying process well or your lender and/or real estate agent are not communicating consistently, it can leave you feeling out of the loop and anxious.

  • Feel free to constantly communicate with your agent and lender if it helps you feel at ease during the process. They really are such a valuable asset in so many ways.