Louisville Real Estate News

Give Buyers What They Want

Buyers love to look.  Good photos satisfy this urge and make them want to see more.  Poor photos and disturbing and may be a turn-off.  Only having one photo says "the inside is a disaster." I have had multiple buyers (including my wife) refuse to go see homes that don't have photos. 

Even if the house needs a little work, it is better to give prospective buyers an understanding of what they are getting than to surprise them when they step in the house.  This serves no purpose other than wasting everyone's time including your own.

My Own Story

We recently decided to sell our home and purchase a new one.  During the search process, we looked at hundreds of homes online.  Unless the price was ridiculously low, we skipped every property that had no photos.  We also discounted many that had few or poor quality photos.  Like many buyers, I have neither the time nor the energy nor the desire to look at a home where the agent and home owner don't care enough to add decent photos. 

Four Simple Rules

1. Your real estate agent must have a wide-angle lens or be willing to hire a professional to take photos.
2. Your agent must take as many pictures as possible and place them on the MLS.
3. Whenever possible, photos of neighborhood or nearby amenities should be included.   
4. If you don't like the photos, be proactive and tell your agent to retake them.

This the 6th post in a 7-part series.  For more, click the following links...

• How to Sell a Louisville Home - Part 1 - Overview
  
• How to Sell a Louisville Home - Part 2 - Why Price Matters
• How to Sell a Louisville Home - Part 3 - Comparative Market Analysis
• How to Sell a Louisville Home - Part 4 - Preparing your Home
• How to Sell a Louisville Home - Part 5 - Paperwork
  

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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How to Sell a Louisville Home - Part 5

When you are ready to sell your Louisville home, there are a handful of documents that need to be signed.  Some of these documents are designed to disclose the roles and responsibilities of the sellers (you) and their real estate agent.  Others detail the property characteristics and make sure that all material information is correct and will be available to buyers. 

The process is not quite as painful as you may believe. I'll complete as many of the forms as possible prior to our meeting.  Of course, I want you to ask as many questions as you need in order to understand each document in detail.

Listing Documents

We will primarily cover 7 forms during the listing appointment.  The basic purpose of each and a few relevant details are shown below. 

1) Consumer Guide to Agency Relationships

As a Kentucky real estate agent, I am required to review this document with you at our first meeting or prior to any discussion relating to confidential information.  I will discuss the different forms of agency relationships (Buyer, Seller, Dual) and cover how my fiduciary responsibilities would apply in each case.  I'll also review the fact that our brokerage does cooperate with other brokerages and the Fair Housing requirements. 

When you sign this document, you are acknowledging that you have received it and under the contents.  This does not obligate you to use my services in any manner.

2) Listing Agreement

This is the contract between you and my brokerage to list your home for sale.  Your home address and the terms of the listing (price, commission, length, etc).  Unlike the Consumer Guide, this is a legally-binding contract.  By signing this document you are committing to move forward with RE/MAX Alliance representing you.

3) Greater Louisville MLS Input form

This form has roughly 7,342 fields to be completed.  Fortunately for you, I will complete most of it when I complete your CMA.  However, it is critical that we review the data carefully.  Any mistakes here could cause your property to come up ,or worse not at all, during searches.

4) Seller's Disclosure

In Kentucky, we have a 3 page Seller's Disclosure that must be completed for residential home sales unless a builder is offering a 1-year warranty. 

You are responsible for revealing any and all known issues that have arisen since you owned the home.  DO NOT under any circumstances stretch, bend or hide the truth.  Buyers understand that things happen.  As long as you have corrected the problem (or made a concession) those who like your home will be willing to move forward.  It is a huge understatement to say courts tend to side with buyers when it is determined the seller omitted an issue.  So, DISCLOSE, DISCLOSE, DISCLOSE.

5) Lead Base Paint Disclosure

The Federal Government banned lead-base paint in 1978.  This disclosure notifies buyers homes built before that year may contain lead-base paint.  If you have had any testing done to determine the presence of lead, you must disclose the test and test results.

6) Home Warranty

We'll discuss the pros and cons of offering a home warranty to prospective buyers.  On this page, you simply accept or refuse to offer the warranty.

7) Estimated Seller's Net Proceeds

An estimate of the amount of money you will receive when your home sells.  Taxes, closing costs, commission, and your mortgage balance(s) are subtracted from the estimated sales price.  I try to be realistic but conservative in order to avoid confusion at closing. 

This the 5th post in a 7-part series.  For more, click the following links...

How to Sell a Louisville Home - Part 1 - Overview

How to Sell a Louisville Home - Part 2 - Why Price Matters

How to Sell a Louisville Home - Part 3 - Comparative Market Analysis

How to Sell a Louisville Home - Part 4 - Preparing your Home

'Pen' photo licensed via Creative Commons from tmab2003 on flickr.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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How to Sell a Louisville Home

Chances are you haven’t sold a home in a while, if ever.   To do so properly requires teamwork between the real estate agent (aka me) and the homeowner (aka you).  If we work together and follow the principles discussed below, we can create a win-win situation.  You will be able to sell for the most money in the shortest amount of time and move on with your life.  I will earn your undying gratitude and be the namesake to your first born.  (Ok, I’ll settle for a referral).

There are 3 main factors influencing your ability to sell your home – Price, Preparation, and Promotion.  This post and the linked articles attempt to explain why each matter and how we can influence each to achieve your goals.  Several of the links contain “Insider’s Secrets” so be sure to click on each.  

Sell Your Louisville Home - Price

1.  Capitalism at its Finest

Pricing your home properly is the single most important aspect of getting your home sold.   If you price too high, no one will see the home.  If you price too low, you will give your equity to the buyer.  Both are lousy alternatives.  The goal is to find the correct listing price based on market conditions. 

For more, see: How to Sell a Louisville Home - Price

2.  What is a CMA? (Hint – Not Country Music Awards)

As a Louisville real estate agent, I believe in a 3-step process for completing the Comparative Market Analysis on your home.  The initial step is to create a rough valuation model based on general features of other homes for sale and recently sold in your area.  Items such as the number of bedrooms, number of baths, presence of a garage or basement and size of the home are included.  The estimate is then further refined based on additional home and feature amenities.  The model is completed after an in-home tour to verify curb appeal, condition, and floor plan. 

3.  The Price is Right

Completion of the CMA is a starting point when it comes to pricing your home.   The result of the CMA is the price your home is likely to sell at in reasonable amount of time.  However, you have particular wants and needs that can affect the list price.  For instance, I recently had clients who wanted to sell their home and move before their next child was born.  As she was 7 months pregnant, we were a bit more aggressive on the pricing.

For More See - The Price Puzzle

Sell Your Louisville Home - Preparation

4.  Pimp Your Home

The condition of your house is the second biggest contributor to whether your home will sell for the most money possible.  Many buyers, especially the first-time home buyers, who currently dominate the market, cannot see past dirt, clutter, or even the color of your home.  By cleaning, decluttering, and neutralizing your home, you can sell faster and for more money.

For more See - Preparing Your Louisville Home for Sale

Sell Your Louisville Home - Promotion

5.  Paperwork - Ugh

Of course, a perfectly price and staged home cannot sell if no one knows about it.  When we meet to discuss the sale of your home, I will have a handful of forms for you to fill out.  (Don’t worry; this isn’t as painful as going to the dentist….  That part comes later).  This post will describe the key forms and give you a little background on why you need to complete them.   

6.  Real Estate Porn – Buyers love to look

Just like you, buyers are busy.  They want information that is accurate and easy to understand.  Quality photos are the most efficient way to meet their needs.   By having good photos attached to your listing, the buyers who show up at your door are more likely to be very interested.  This will be important to remember when you have to walk out the door when there is still 2 minutes left on the game clock. 

7.  Syndication – Ready for Prime Time

Like the lottery, finding buyers is a numbers game.  Putting your listing on the MLS only, is no longer a valid strategy.  There are 795,643 websites that list properties, but do not syndicate from the MLS.  (I know this number is accurate because each of them feels obligated to call me weekly).  When you list your home with me (not that you really have a legitimate other choice), your Louisville Home will show-up on dozens, if not hundreds of locations. 

Let's Get This Party Started

Now that you understand the basics of getting your Louisville home sold, call me (502-921-3989) and let’s get started.

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Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

Get Updates in a Reader

 Get Louisville Real Estate News by Email