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).

As you are preparing to make a trip to your new location in order to search for the home you want to buy, in my experience there are some important things to consider (I alluded to some of this in a previous post).

Mentally, you really need to be ready to make an offer on a house and buy, unless you know, going in, that you have time and do not need to buy right away, or because you will be making a second trip to look. Making the decision to buy is often pretty stressful, even when buying in an area you know. But then you generally have plenty of time to look and can make the decision to put in an offer when you are ready. But when you are relocating you often don't have the luxury of time. So prepare yourself you make that offer and know that is the goal you are to accomplish on your trip.

People often ask, how many houses should I see? That's a tough question, and there is no real right or wrong answer - it depends on you and how you buy, but also on the available inventory (there may only be a few homes in your price range, or hundreds). Some people can see 5 or 6 homes and know they have found the right thing and can make the decision. Others need to see more homes before they can decide. One thing to be aware, and cautious of, if the "kid in the candy store" approach. This is especially common in the current market, at least here in California because there are so many homes on the market. Some buyers are taking the approach that they want to see everything before they decide. This can take forever, and you can risk losing a house you really like while you are out looking at everything else. PLus if your house hunting trip has a time limit, you simly will NOT be able to see everything. I know of people who have looked at 50 or more houses in 3 days, trying to decide. Personally I think this is overkill - after a while they will all start to seem alike, and how can you really decide among that many homes? But if this is what you feel you need to do, then you should do it. I would, however, talk about this with the Realtor in advance so everyone is on the same page.

I mentioned using a digital camera to help keep track of homes. You might also want to take your  video camera if your enjoy that. The nice thing about a digital camera is you can easily delete pictures as you go along, eliminating houses as you do. But either will work well and help you keep track of what you have seen.  This an be especially helpful if you return home to ponder the decision, then make you offer from a distance.

If you know you need to make an offer while away, make sure you take a checkbook  to pay for the downpayment with your offer (and verify that you have sufficient funds to cover the check that you write). Take a copy of your pre-approval letter and make sure you put your mortgage officer on alert that you may need to reach him/her while traveling with any questions or to modify the pre-approval letter (check that you have all the ncessary contact information with you).

Here are a number of things to consider as you are planning your move (this does NOT include everything but you help you on your way). You should also talk with your REALTOR, and your moving company, if used, will also have some helpful suggestions.

Send change of address to:

• Post Office (can be done on-line)
• Charge Accounts and Credit Card Accounts
• Friends & Relatives
• Subscriptions: Notice requires several weeks for magazines.
• Cancel newspaper(s)

You will likely make at least one trip to your new location before you actually move in order to look at, and hopefully buy, your new home.  Time will probably be limited, so make the most of this time by doing the following.

1. Thoroughly research the housing on-line in advance so you know what is available, pricing, etc. I don't advise going on this trip blind since you'll waste time. Research the towns and communities that interest you, along with schools if applicable.

2. Develop a list of the properties you want to see. Unless you have definite ideas, I suggest a fairly broad list so you can see the range of choices available to you in the new city, and be OPEN MINDED. You can eliminate things as you go, or your Realtor may tell you that some homes are no longer available or that you will not like them based on the criteria you have shared.

3. Ask your Realtor to arrange for you to see the homes on your list, and others that s/he might think are appropriate given the criteria you have discussed. Provide this list several days in advance to give your agent time to arrange the tour. You can always add new properties that just came on the market at the last moment.

4. Since you will likely have only a few days, be prepared to spend the entire day looking at houses and see as many as you can (depending on your list). You can always stop looking if you feel you have seen enough, or find the perfect house. 10 or more houses in a day is not unreasonable on this type of house hunting trip. As you tour homes, if you are in an area you don't like (for whatever reason), let your agent know so you don't waste time going to other homes that are on the list in that area - your Realtor can all ahead and cancel the visit as a courtesy.

5. Take lots of notes and make sure you have a copy of the MLS printout for each house you are seeing so you have all the information. You can take your own printouts but you can ask your agent to provide them to you as well. Also ask for comparison information on homes that have sold in the area (price, etc.). If you do not get motion sickness and don't need to drive (unlike ME), your Realtor can squire you around so you can look more effectively. You can always drive yourself around later to get your own lay of the land.

6. Take a digital camera (and make sure you have the battery charger). Seeing lots of homes in a short period can be confusing, and you will find it hard to remember what you saw (which house had the ugly bathroom, where was that home with the terrific kitchen, which house had the great ocean view but lots of noise from the freeway) without photos and your notes. You can delete photos as you go when you eliminate houses from your list and make room on your camera for more pictures.

7. Try to rank order homes as you go (i.e., compare the one you just saw with the one you are touring). That way you can eliminate those that are low on the list. This will also help you further define what you really like, and you will have a list of homes ranging from your favorite on down.

 8. When touring, don't take too much time at each home so you keep moving along and see everything that you want. Keep a list of the homes you would like to revisit before making a final decision.

9. Depending on your situation, prepare yourself mentally to make a buying decision when you find the right house. If you have done your homework, and with a good agent, you will likely find the home you want during your trip, so you need to be prepared to move ahead quickly. Since you may have to travel back home you will want to be able to make an offer and hopefully get it accepted before leaving.

10. Take your checkbook for a deposit check, and make sure you have your pre-approval letter (or call your lender to fax or email it to you at your hotel). You will need these for any offer you make.

Here are some suggestions for helping the Realtor you have chosen in your new home city effectively aid you in finding the right home, based on my personal relocation experience and from assisting multiple buyers in their moves around the country. Not only is this one of the largest purchases you will make, but you are moving to a new area you don’t know which adds to the stress. And if this is not a choice (e.g., a corporate transfer) it is probably even more difficult for you and you family. (NOTE - above is a view of downtown Del Mar, a beautiful and charming seaside town...and expensive!)

Once you have chosen the person you want to help you with the process, or the Relocation Company has identified that individual for you, you are ready to get to work.

1. Respond quickly when you get emails or calls from your Realtor. S/he is working hard to help you, and you are probably on a tight schedule. Delays in communication will hurt you, and make it more difficult for your Realtor to assist. Your responsiveness is an indication of your interest and cooperation, and can set the tone for the relationship. When you say you want help but then do not return calls and emails, this sends a negative message (and of course this works both ways) and makes it tough for the process to move along.
2. Make sure you are pre-approved right away so you know your budget. Your Realtor will ask, and you DON’T want to waste time, yours and your Realtor’s, looking at homes that are outside your budget.
3. Verify the details of your relocation package, if applicable, and make sure your Realtor knows this is part of the process, and if s/he will be expected to pay a referral fee. Lots of agents refer back and forth so they are accustomed to referral fees; some relocation companies charge high fees and this must be communicated.
4. Be a good listener. This is tough sometimes because you are feeling stressed, or perhaps frustrated. Don’t let your emotions get in your way of hearing what is being said. Be a good communicator, too – be clear, concise and decisive
5. Provide your Realtor with the information s/he is seeking in a timely manner, and in particular when things change (e.g., your budget, dates).
6. Be clear about what you want in your new home and community. This can be hard, and may change over time, but your Realtor will have a more difficult time if you don’t have a clue and can’t decide on what’s important to you. This is particularly tough when moving to an area that is very different (such as my move from Boston to California!!).
7. Have your Realtor sign you up for daily emailed listings from the MLS in your new home city so you can educate yourself about the market and house values.  You need to quickly make decisions about the kinds of housing you want and where you want to live, and understand what is going on in the market. Screen in homes that are of interest and let your Realtor know so s/he understands your likes and dislikes. Your Realtor can probably preview homes for you when you can’t be there. Arrange for a house hunting trip and do a blitz in the new city, seeing as much as you can so you can decide on your new home.
8. Obtain all the necessary contact information (emails, cell phone, office phone, home phone, pager) for your agent and provide the same to him/her. Know how to get in touch with your Realtor quickly when necessary (especially during the offer negotiations, when failing to respond can cost you the home).
9. Be flexible and change direction quickly if you need to, and inform your Realtor of any and all changes immediately. You can expect problems to arise, discrepancies, and changes in direction, dates, and timing.
10. Use technology to simplify and speed up communication – cell phone, fax, email.
11. Keep careful notes and records of all conversations, decisions, resolutions to problems, etc. Use email to confirm and clarify so you have a written record. Don’t make any assumptions – confirm and re-confirm.
12. Educate yourself on how the buying process works in the new city/state – it may be very different from what you are used to. What forms will you encounter? What is the timing? Who else is involved (e.g., escrow company, attorneys) and how do you get in touch with them when necessary? Remember, YOU have the greatest vested interest in the success of your home buying, so you need to take responsibility to keep things moving along and make timely decisions.
13. If you are not able to be in your new town readily, get your Realtor’s help when necessary (e.g., coordinating and attending inspections, letting in tradespeople for  estimates and to perform work, checking on the home before you arrive).
14. Do your due diligence. Use the Internet to help you research the new community and get answers to your questions. Ask for resources from your Realtor. These are your decisions NOT your Realtor’s.

Good luck. Please contact me here in Southern California if I can help you in any way, or someone you know who is moving. For more fun information about living in the San Diego area, check out Fans of Coastal San Diego.