The role of a REALTOR in the sale of a house is complex, far more so than many buyers and sellers realize. This is because many of the acitvities go on behind the scenes.

Since you are going to be working with a REALTOR to help sell your house during your relocation (unless you decide to chance doing it on your own - read my series on "Thinking about Selling Your Home Yourself."), it would be beneficial to you to understand what the role entails.

Here are some of the things a REALTOR does before even meeting with a seller to discuss a potential listing.

• Make appointment with seller for listing presentation
• Confirm listing appointment and call to reconfirm
•  Review pre-appointment questions and information needed from seller
•  Provide Pre-Listing Information Package to seller (surprisingly, many agents DO NOT do this like I do)
•  Research all comparable currently listed properties
• Research sales activity for the past 6 months (standard review period) from MLS and public records databases - in some markets, such as one where prices are rising or dropping, the time period is less
• Research property tax roll information, property ownership, details of lots, legal description, zoning
• Prepare "Comparable Market Analysis" (CMA) to establish fair market value - I do a RIGHT PRICE ANALYLSIS (see my website for more information on this)
•  Verify legal names of owner(s) in county's public property records
• Prepare listing presentation package with above materials and MLS information
• Perform exterior "Curb Appeal Assessment" of subject property
• Make sure marketing materials are assembled to review with seller
• Take pictures of property for mock up of feature sheet (again, not something a lot of agents do)

If I can answer any questions or provide other assistance, please let me know.

I wrote earlier about some things you should consider as you are seeking a REALTOR to help you find a home in your new location. I just spent some time helping clients of mine in Boston who need to sell their condo in order to move to San Francisco, and in doing so I thought I would share some more thoughts on how to select your REALTOR in this type of situation.

While knowledge of the industry is important, and having experience working with people who have relocated (even in state but from another area) is critical, it is also important to work with someone who puts your needs above their own. Sounds like a simple matter, right? Well, it isn't. You need someone who will take the time to understand your needs, now at the beginning of the process but also throughout the entire process. Being a good listener is essential. You need someone who can add value to the process - while the person you select needs to listen to you and understand what you need, s/he should also be able to provide expert advice and propose solutions to help solve problems as they arise. This is particularly true if you have never done this before.

You also need someone who can be flexible in their style, and adjust their work habits to accommodate your situation. You very likely will be dealing with different time zones and work schedules. You may prefer email to phone calls, and very frequent vs. infrequent contact. You should feel comfortable talking about what works well for you and your needs if the agent does not ask you directly. If you sense resistance or some discomfort then that person may not be the best fit.

If I can help you formulate some questions based on your particular situation, OR you would like me to help you find a qualified REALTOR with my network of agents around the country, please don't hesitate to ask.

This is the last in this series of issues that all sellers thinking of brokering their homes themselves should review, and CAREFULLY consider. If you are dead-set on forging ahead on your own, good luck!  And don't hesitate to ask me for help and advice, as I will be happy to support your efforts with suggestions.

Read Part 1,  Part 2,  Part 3  and Part 4 here.

 Price Setting - this is probably the MOST CRITICAL task at hand, even for those working with a broker. There is so much competition, and unless you are in a seller's market (and few are), pricing is going to determine IF you sell, and WHEN. Setting the market price is not easy, even for professionals with lots of knowledge and experience. The KEY POINT to remember, if you remember nothing else, is that the market sets the price, not you the seller, nor any agent. No matter what you think it is worth, the market, and a willing and able buyer who wants YOUR house, will determine what it sells for. So, how ARE you going to set your price? Do you know what other homes have sold for in your area? Do you know where your competitors are priced? Keep in mind that buyers who look at homes for sale by UNREPRESENTED SELLERS are looking for a deal. Since you are not paying a commission to a listing agent, they will look for this additional discount when they make an offer, at a minimum...and it will typically be a low-ball offer to begin with.

 Friendly, neighborly advice - I can't tell you how many times I have heard that a seller's friends, family or neighbors gave them advice on pricing and how to sell the home themselves. Are these people experts on pricing and selling? Can they really be objective and tell you what the truth is about your home and it's salability? Do they know any more about the actual market conditions than you do? Or do they just read the papers and watch TV like you do? Keep in mind these people, while good intentioned, have no vested interest in your home selling - only YOU do (and an agent who is listing your home if you go that route). Just because your neighbor, who has the same house, got $X for his home 6 months ago does NOT mean you will now, with the changes that the market has seen. Be careful about the friendly, neighborly advice you get! And what you listen to. Your friends and neighbors aren't selling...YOU ARE!

 Competition - this is another critical issue. Do you KNOW who your competition is? And why they are your competition? Not just on your street but in the larger neighborhood and community? Do you know the details of other properties on the market that will be compared to your home (amenities, age, size, bedrooms, interior and exterior condition, pricing, seller concessions)? How can you insure that YOUR home is not the one that makes the competition a better value? Part of this is pricing, but there are other factors as well. What can you do to be sure YOUR home comes across as the best buy, not your neighbor's?

The value of a REALTOR is that YOU do not have these issues to worry about, at least not directly. For more information on how a REALTOR can add value to your transaction, visit my website.

Here are some more issues to seriously consider if you are thinking of selling your home by yourself. Part of the value of a REALTOR is that you do not have to worry about these things.

 Exposure - This is a buyer's market, for most parts of the country. In order to sell a home quickly and for top dollar, it is CRITICAL to have maximum exposure in the marketplace because there is so much competition. Some neighborhoods have more than 10 homes for buyers to choose from. How will YOU get the exposure you need? And do you know what your target market is? You can't put your home on the MLS with out the aid of an agent (even one that does this for a fee and provides no other services (some areas have an MLS of thousands of agents). You also can't get your home on Realtor.com, probably the most widely used site for home searching by buyers. how many people are actually going to drive by your For Sale By Owner sign? How will the market know your place if even for sale? There are websites that cater to FSBOs, but many others that only list properties to agents - so you are limiting your Internet exposure (and 80% of buyers these days search on the web for their new homes).

 Qualifying Buyers - Do you know how to determine is a buyer is qualified to purchase your property? What questions do you need to ask? How do you know they are qualified buyers and have the financial wherewithal to meet the mortgage approval criteria? Are you actually comfortable quizzing prospective buyers on their financial status? Do you really want to show you home to a buyer who can't afford it but is having fun dreaming? Or checking out your decorating sense?

 Staging your Home - Is your home really ready to show buyers? Do you know how to create an atmosphere that will encourage buyers to envision themselves living there? What mood does your home convey to people walking up to the front door, or even driving by? Do you know what amenities buyers are searching for and how you can make sure buyers are aware of these things in YOUR home? Are there some design or functional faux pas in your home that needs to be taken care of, and do you know what this is?

I hope you find this helpful in your thinking. Please feel free to contact me with any questions you may have.

Here are some more suggestions for coping with selling in a buyer's market:

• Consider a home inspection before you list – learn what problems your home might have (particularly important if you have owned your home for more than a few years) and take care of these issues, particularly obvious defects.
• Be flexible – don't be too restrictive in allowing showins - you may miss out on a good buyer.
• Be prepared to negotiate – buyers expect a seller will negotiate in this market and they will likely bring you a less-than-full-price offer, and amy ask for other concessions as well. Buyers are more in control now. Discuss how to approach this situation with your REALTOR.
• Expect that selling will take time – it may take weeks or longer, even if you do everthing right. Many buyers are worried now and believe prices will drop further. Some are taking a wait and see approach.

My blog on ActiveRain has more details on these points - take a moment to stop by. As always, when planning to sell, it makes sense to contact a knowledgeable REALTOR in your area to get all the information you need so you can make a wise decision.

More questions? Email me, or visit my website.

Since you are relocating, you really need to sell...right? Here is the first of a two-part series of some strategies to get you started, now that the market has shifted to become much more buyer friendly. These are not in any special order but price is most important:

If you have NOT sold your current home but need to buy something in your new location before you actually relocate, I would consider the following.

As a REALTOR, I usually recommend that people sell their current home before they buy another. There are situations when the alternative will work, but in a slower market you cannot control how soon your current home will sell, so buying before you sell (unless you can qualify to have two mortgage and can financially swing it) is very risky. What happens if you can't sell it - do you lose the other house? Do you reduce the price drastically? Do you rent?

However, you may find yourself in a situation where you have no choice, since you are relocating a significant distance. The good news is that in many areas (the Southern California market included) because of the slower market, the inventory, and the long marketing times, many sellers are willing to consider accepting an offer that is contingent upon the buyer selling his/her house. So that may help you get the house you want while waiting for your old home to sell (in a sellers' market this typically is not the case, since there are many buyers competing for a few homes and sellers do not need to consider such a contingency).

If this seems likely, I would first have a detailed conversation with your REALTOR helping you to sell your home about the market and what you can expect. And I would be VERY AGGRESSIVE about pricing your home to sell, perhaps lower than any other comparable home, so you can sell quickly. This is NOT the time to try to make a few extra dollars, since you can end up spending more (mortgage, interest, utilities, etc.) if your home doesn't sell for a long time.

Also talk with the REALTOR in your new location to ascertain the market conditions there. Will you even be able to make a contingent offer? Are there lots of homes on the market right now, and what is the marketing time? Discuss the possibilities of needing to make a contingent offer so your REALTOR is prepared and can advise you accordingly.

Make sure both REALTORs have each other's contact information. If you need to make a contngent offer you and your REALTOR will likely need to provide informaton about the home you are selling (the MLS #, price, and perhaps the listing itself, in order to document that it is, in fact, on the market - your REALTOR at home can help with this, and keep your other REALTOR up to date on events, which can make a difference in working through the negotiations).