Real Estate Tips - The Pre-Listing Prep Package

This package outlines the crucial steps and materials required to ensure a smooth and effective listing process. Providing this information to sellers upfront helps manage expectations, minimize delays, and present the property in the best possible light.

I. Initial Consultation and Assessment

The first step involves a comprehensive review of the property and the seller's goals.

Gathering key information about the property and the seller's situation is essential. The questionnaire covers:

• Motivation for selling
• Timeframe and ideal closing date
• Property history and known issues
• Recent improvements or repairs
• Financial expectations

A detailed list for the seller to complete, highlighting areas that need attention before professional photography and showings.

Before listing, all necessary legal and property-specific documents must be prepared.

The following documents should be compiled by the seller:

• Mortgage Information: Current balance and lender details.
• Property Survey/Plot Map: Boundary lines and property dimensions.
• HOA Documents (if applicable): Covenants, conditions, and restrictions (CC&Rs) and financial statements.
• Appliance Manuals/Warranties: For included fixtures and appliances.
• Lead-Based Paint Disclosure: Required for properties built before 1978.

We will provide the required state and local disclosure forms for review.

Effective pricing is critical for a successful sale. This section prepares the seller for the comparative market analysis (CMA) discussion.

The CMA uses data from recently sold properties to determine the property's competitive market value. Key factors reviewed include:

• Location and neighborhood specifics
• Size and condition of the home
• Recent comparable sales
• Current active listings (competition)
• Expired listings (what didn't sell)

We will discuss three potential pricing strategies, with the final decision resting with the seller:

• Aggressive Pricing: Designed to attract multiple offers quickly.
• Market Value Pricing: Reflects a realistic price based on current market data.
• High-End Pricing: Used when testing the market, though often results in longer time on the market and potential price reductions.

Once the prep work is complete, the focus shifts to staging and professional marketing.

Preparing the home for photography and viewings is key to maximizing buyer appeal.

• Depersonalize all spaces.
• Ensure all lights and fixtures are working.
• Remove all trash cans and pet items.
• Organize closets and storage areas (buyers look everywhere).
• Set the scene (e.g., set the dining room table, make beds).