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6 easy steps to selling your home fast and at top dollar in today’s Los Angeles real estate market.
May 21, 2011 in Latest News

6 EASY STEPS TO SELLING YOUR HOME FAST AND AT TOP DOLLAR IN TODAY'S LOS ANGELES REAL ESTATE MARKET!


1.) Property Value! Most Sellers in this current market are concerned about getting top dollar and struggle with finding the right price to offer their property at. Just how much is your property worth today? Every market is different! Los Angeles has many micro markets making understanding your property’s value more difficult. We would suggest that a potential seller speak to more than one professional to gather trustworthy opinion’s and valuable research. We caution Seller’s who rely on generic real estate websites that give market values based upon computer formula’s. The strength of the LA real estate market is in its uniqueness and subtle variations. For example, there are literally neighborhoods here that the value of a home changes from one side of the street to the other. Of course, ultimately your home is worth exactly what someone is willing to pay for it. Therefore, finding the right buyer for your property is essential. Listing your property at the right price is paramount. Studies show that properties that are priced more than 3% higher then market value take longer to sell. Price your property too high and you will see less Buyers and your property can get stale. If your property sits on the market for too long, it is likely to send out the message to Buyers that there is something wrong with it. Nothing drives down the perceived value of a property then this. On the other hand, Price it right and watch the Buyer’s show up with full price offers in hand.

2.) Getting ready to put your home on the market? Design on a Dime. Today it is very important to understand the Buyer’s point of view and mindset. What will make your home stand out? There are many small and relatively inexpensive things you can do to help shape up your property. The result of spending a few hundred to a few thousand dollars now can lead to a quick and a significantly higher sale price resulting in tens to hundreds of thousand dollars more! We believe in working and consulting in collaboration with our Sellers to prepare a property for the market and credit much of our tremendous success to having our listings ready for presentation prior to being on the market. Here are a few small tips: Make you home looks as much as a “Showroom” as possible. Your house should always look like you are about to have guest over. Replace simple worn items and replace burned out bulbs. Remove clutter and put away personal items. This will make your home feel more spacious and will allow a prospective Buyer to visualize themselves living in the space easier.

3.) Exposing your property to the world. Today more than ever, it is important to list your property in a way that will reach maximum number of Buyers. Working with a reputable real estate professional who has a proven marketing plan is paramount. It’s a myth that Buyer’s find homes to buy, that’s like saying fishermen don’t need hooks or nets to catch fish. A marketing plan should be designed to specifically reach and gather all the buyers who are currently looking to buy your type of property and location. To properly expose your property to the market, usually combines targeting the right publications, media advertising, as well as utilizing cutting-edge internet and social media networking and advertising, and direct mail marketing campaigns. All the above in addition to listing your home on the MLS that will attract the right Buyers and get them to your property in large numbers as quickly as possible to create a buzz of interest. There is no better way to bring strong offers on a property than rounding up those Buyers that are looking for your property within the first few weeks and creating an authentic environment that clearly sends the message that this property won’t be on the market for long.

4.) Receiving an offer. Sizing up your potential buyer is very important. Getting into escrow with the wrong buyer can cost you valuable time and money. Your real estate professional will help you understand the Buyer’s qualifications and whether on not the Buyer is a strong candidate to purchase your home. You and your agent will review the proposed contract carefully to clarify and make sure you understand all deal points, conditions required by both parties in order to execute the transaction. The contract, though not limited to this list, should include the following: A Legal description of the property, An offer price, a down payment amount, financing arrangements, a list of fees and who will pay them, a deposit amount, inspection rights and possible repair allowances, a method of conveying the title and who will handle the closing, which appliances and possible furnishings that will stay with the home, a closing date. Once receiving an offer you have three options: accept the contract as is, accept it with changes (a counteroffer), or reject it. Remember: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with your real estate agent right away.

5.) The Art of the Deal! It is rare that an offer is presented that is 100% acceptable. Almost every offer will require a negotiation to work out the deal points into an agreement. Creating a “win-win” in which both Buyer and Seller are mutually satisfied in the agreement is 10x more likely to result in a successful transaction and sell of your property. Once both parties are in agreement on the terms of the sale and the purchase agreement has been signed by all parties, the property will be put into escrow. This is where many novice real estate agents or inexperienced Seller’s tend to start to count their eggs before they hatch!

6.) Closing Escrow; Also known as “Closing the Deal”! There are many important items of things that both the Buyer and the Seller must do still prior to legally transferring ownership of the property. A short list of usual items that are completed during escrow include, but are not limited to, appraisal, survey, inspections, repairs, wiring of funds, and funding of a loan/s. Every item that maybe on this list to do’s prior to close of the escrow must be completed, addressed, and sometimes renegotiated. Any one of these items can result in the buyer walking away from the deal or opening a new negotiation. It is important to have an agent who will be present to expertly guide you through this process, who will ensure that all goes as planned, and that any last-minute issues are promptly and effectively resolved.

ST JAMES + CANTER is one of the most significant top producing luxury residential real estate teams in Los Angeles consistently ranked among the top 1% in annual gross sales nationwide. With over 23 years of experience and extensive knowledge, they have gained the reputation of being among the elite leaders in the representation of Buyers and Sellers of Luxury Estates, Architectural Properties, and High-End Luxury Condominiums in Los Angeles specializing in Beverly Hills, Bel Air, Sunset Strip, West Hollywood, & Hollywood Hills. Experts in selling Los Angeles lifestyle & luxury real estate, St. James + Canter have closed nearly $700,000,000 in real estate transactions.