Marketing Your Property Effectively
Exposure, Exposure, Exposure: Your broker will place your property in the Multiple Listing Service (MLS), which exposes your home to all the buyers working with buyer's brokers. Since it costs nothing for a buyer to work with a broker associate, the vast majority of home sales result from a broker associate finding your home on the MLS and your property being a match for their client. This literally puts every broker in town to work helping to get your home sold. Your broker will place your home on the realtor.com website as well as our varelarealestate.com website. Out of state and buyers without brokers are increasingly using these web sites to find homes in our area.
In addition, the following are some of the ways your Varela Real Estate broker can market your property:
1) Run a newspaper and magazine ad campaign
2) Distribute flyers
3) E-mail your new listing to fellow brokers directly
4) Hold an open house tour for all members of the Santa Fe Association of Realtor's
5) Hold an open house for the public
Market Analysis/Pricing Your Home: In addition to exposure, the most important factor in selling your home is pricing. Your broker will provide up-to-date market information of recent sales and current competitive listings that will be vital to price your home appropriately. This is what we refer to as a "Comparable Market Analysis" (CMA,). This process is crucial to a timely sale at the best price possible. Remember your price has to please three people: you, the buyer and the appraiser. The closer your price is to actual market value (this is the amount a knowledgeable seller will accept and a knowledgeable buyer will pay) - the sooner it will sell.
Unrealistic prices are the major cause of "shopworn" listings, those that cause people to wonder if something is wrong with the house and result in below-market price sales. Overpricing actually helps sell your neighbor's competing houses by making those listings look like better values compared to yours. If you plan to reduce the price anyway, it is better to start at a competitive price. Your broker also knows the standard costs involved related to buying and selling a home (closing costs) and can prepare for you an estimate of what you can expect to net from the sale.
Accessibility: All showings of your home will be arranged through our office and will be with a licensed buyer's broker.
We will also provide prospective buyers with all the necessary details on your home to help them make an informed decision. Buyers often shy away from asking homeowners questions, as homeowners are sometimes understandably defensive about defects in their homes. A broker can answer necessary questions objectively and guide the buyer to a purchase.
Advocacy: Your broker's number one priority is to help you sell your home at the best possible price and for the most favorable terms. Your broker will help you negotiate the sale and advise you on how to respond to offers and counteroffers. Your broker will supply all the necessary legal contracts and coordinate the entire closing process. During the average 30 - 45 days from when a purchase offer is accepted to the closing date, many sales fall apart during the various inspections and contingencies. Most real estate transactions in New Mexico don't require or involve an attorney. It is especially important to have an experienced broker who will help you avoid common pitfalls and red flags that may appear in a transaction.