All the Tactics and Practices Used to Market and SELL your Home!
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Understanding the Impact of the NAR Settlement Agreement on Home Sellers
Recent changes stemming from the National Association of Realtors (NAR) settlement agreement have significant implications for how home sellers market their properties. These changes are designed to increase transparency in the real estate industry, particularly concerning commission structures. However, as these shifts take effect, sellers need to understand how they might affect the process of selling their home.
1. Increased Transparency in Commission Structures
One of the primary changes is greater transparency around how commissions are structured and disclosed. While this is a positive move for consumer awareness, it may introduce complexities for sellers who are not well-versed in real estate transactions. Understanding the nuances of commission negotiations and how they impact the overall transaction can be challenging without professional guidance.
2. Potential Shifts in Buyer Expectations
As buyers become more aware of commission details, their expectations during negotiations might change. They may be more inclined to negotiate commission rates or ask for certain concessions that could impact your bottom line. Sellers need to be prepared for these discussions and have a clear strategy in place to ensure they are still achieving their financial goals.
3. The Value of Professional Negotiation
Given these changes, the role of a skilled real estate professional has never been more valuable. A knowledgeable broker such as myself can help sellers navigate the new landscape, ensuring that they understand the implications of the settlement agreement and how to best position their home in the market. Moreover, having a professional negotiator on your side can make a significant difference in the outcome of your sale. They can handle complex discussions, protect your interests, and help you achieve the best possible terms.
**Conclusion**
The NAR settlement agreement marks a shift towards greater transparency in real estate transactions, but it also introduces new challenges for sellers. To navigate these changes successfully, it’s crucial to have an experienced real estate professional by your side. My expertise in marketing and negotiation can help you maximize the value of your home and ensure a smooth, successful sale.
Basic Licensee Duties
We will review the Basic Broker Duties that I provide you in my role as a Transaction Broker. These duties ensure that we are working together in accordance with New Mexico law.
Marketing Action Plan
I will present to you a custom Marketing Action Plan—a formal written plan for marketing your Property. This may include an Open House to be conducted when appropriate and as agreed to in advance with you.
Competitive Market Analysis
I will provide you with a current Competitive Market Analysis and will assist you in determining the most effective list price for your Property.
Financing Alternatives
We will show you various financing alternatives for buyers of your Property, and discuss the likely impact of each alternative on your sale.
Estimated Proceeds
I will furnish you with an estimate of the proceeds you can expect from the sale of your Property.
Home Enhancement
I will develop a plan to enhance your Property’s ability to attract buyers. We have contacts for staging specialists that we will share if desired.
Keller Williams Action Team
I will present your Property to the Keller Williams Sales Team. I will share with you the Team’s review and recommendations to help you realize the best price obtainable for your Property.
In conclusions, I am there for you throughout the sale. I am confident that my experience and expertise will be an invaluable service to you and your home selling experience.
Promotion to Other Brokers
I will promote your Property to other reputable, professional brokers and sales associates in the area.
Multiple Listing Service
I will prepare a plan for your Property to appear in the local Multiple Listing Service. The information will be submitted, by the date we select, for the Property’s debut on the market to achieve maximum impact.
Property Information
I will make information on your Property available to local and out-of-town buyer prospects. Additional copies will be available for sales associates and prospective buyers at your Property.
Direct Marketing
I will distribute promotional materials on your Property to key market areas to attract potential buyers.
Keller Williams Sign
I will place a Keller Williams FOR SALE sign on your Property, to help generate calls to our office from prospective buyers.
Seller Disclosure
I will present your written disclosure regarding the condition of your Property to buyer prospects to assist them in preparing an offer. You will keep her informed of any changes in the Property and keep the information current on the disclosure form.
Home Warranty placed on your home
I will provide you with a Seller Home Warranty opportunity that will stay in effect during the time the home is listed. When things break, you will pay a small service call and the covered items will be repaired or replaced!
Market Activity Report
I will provide you with a Marketing Activity Report on a regular basis to keep you informed of competitive market conditions, buyer activity, and the actions we have taken to market your Property.
Home-Finding Process
I will review with you the best information available about buying a home to acquaint you with the home-finding process that buyers are most likely to follow, including financial qualification, property selection, financing options, and Closing procedures.
Qualifying Buyers
I will seek financial qualifying information on all buyers submitting a purchase offer. Our goal will be to pre-qualify or pre-approve the buyer through a reputable lender.
Purchase Offers
We will review all purchase offers as they are presented, and I will assist with negotiations to reach a purchase agreement with terms that are favorable and protective for you.
Closing the Sale
I will monitor and inform you of the progress of the transaction, including the satisfaction of all contingencies and conditions during the entire transaction.
After-Sale Service
I will contact you after the Closing to follow up on the remaining details or service needs.
Service Satisfaction Survey
I will provide you with a confidential opportunity to give an evaluation of my services.
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