The Selling Process
The devil’s in the details when it comes to putting a property on the market. Here’s how we’ll help you put your best foot forward.
1. Assessment
The first step is to fully understand your property — such as size, condition and layout — as well as your timeline. Then, we conduct a comprehensive valuation. Finally, we prepare a competitive marketing report, outlining a pricing strategy that reflects the current market.
2. Preparation
Properly preparing a home is one of the most critical components to maximize its sale. We will develop a plan to bring your property to market, which can range from a simple coat of paint to something much more substantial. We typically recommend staging because it presents your property in its best light. Concerned about up-front costs? Compass Concierge is the perfect solution.
3. Showtime
The work has been done, and your property is now ready for its close-up. From high-quality photography and carefully crafted language to brochures, email blasts, social media, and more, our 360° marketing campaign will create a compelling story about your home to appeal to a range of buyers. Now we can schedule and conduct open houses with confidence.
4. Transparency
All the while, we’re pulling together a comprehensive disclosure package, scheduling inspections, and guiding you through the required property documentation. It’s imperative to provide all the material facts to prospective buyers, allowing them to make informed decisions prior to submitting an offer.
5. Taking offers
Based on the amount of interest in your property, we may schedule a formal offer date or simply take offers as they come. When several are received, we help you understand what makes each offer more or less compelling. You may accept, reject, or counter any offer, which then opens the negotiation process.
6. Escrow
Once you’ve accepted an offer, an escrow account is opened. The buyer submits a good-faith deposit, or Earnest Money Deposit (EMD), which is 3% of the purchase price. While in escrow, an entire team — lenders, title officers, inspectors, appraisers, to name few — is working towards closing the deal. Once contingencies are removed, the remaining deposit is submitted, the loan is funded, and you’re clear to close.
7. Celebrate
Once the transfer of deed has been recorded and your mortgage as well as outstanding liens, taxes, and fees have been paid, you receive the proceeds. The property officially belongs to the new owner. We hand over the keys, and all that’s left for you is to raise a glass. Congratulations!
Considering selling your property?
Let us help you get started.