Is My Home Ready to Sell ?   Quiz/Questionnaire

The Grand Rapids Real Estate Association currently has over 10,000 listings for sale.  On average 1000+ homes have sold every month which means there is ample supply of homes for sale for every buyer.  The good news is that homes are still selling and motivated Homeowners are exploring New Options to ensure that their home is one of them.  This Quiz is designed to assist you in determining how competitive your home is the current Grand Rapids Market and can easily be utilized in any real estate market in which there is more than 6 months worth of inventory in the Current Listings for Sale.  Use the Key below to help you determine your Competitive Index Quotient. 

*(This tool has been designed by Lola Audu, CRS of Audu Real Estate to assist homeowners in evaluating how best to enhance their marketing options and chances for success in a competitive real estate market.  It is not intended to be a substitute for professional counsel.  Please contact a real estate Broker or Realtor for in-depth analysis and interpretation about your current situation)

How to Use this Questionaire:  Each category has several options.  Please Check all that apply.  Then use the scoring index below to evaluate your score. 

 1.  Initial Home Listing Price  (Sale price refers to homes sold within past 90 days)

• A.   Home currently priced above the average home for sale in neighborhood      
• B.  Home priced at the average neighborhood home sale price
• C. Home priced 5-10% Below average neighborhood home sale price
• D. Home Listing includes Selling Bonus to Selling Agent

2. Pricing Adjustments (Based on updated Certified Market Analysis after 30-60 days)

• A.  Stay the course, Keep price the Same regardless of current indicators
• B.  Revise Listing on-line to match current Average home sale price
• C.  Decrease list price by 5% if necessary below revised market analysis price

3.  Financing Options Provided

• A.  Seller offers to pay closing costs- typically between 3-5% of sales price
• B.  Seller offers to pay 1st 3 months of Buyers Mortgage Payment
• C.  Seller offers buyer incentive such as Vacation/Car Rental/Cruise/Plane Tickets
• D. Seller willing to Consider Government Financing (EX: FHA, VA, MSHDA) in addition to Conventional Loans
• E.  Seller willing to offer Lease with Option to Purchase or Land Contract in addition to traditional financing vehicles

4.  Home Condition

• A.  Home has been professionally Staged & recommendations completed
• B.  Home has been cleared of excess belongings and clutter
• C.  All minor & major home repairs have been made
• D.  Home looks and smells clean and fresh

 5.  Marketing of My Home

• A.  Media/Web tours available on my homes' interior
• B.  Home available on Local MLS and additonal websites including BLOGS
• C.  Open Houses accessible on-line
• D.  Brochure box attached to Sign rider with fliers detailing home
• E.  Comprehensive marketing plan includes print media and on-line options and is in writing

6.  Risk Reduction

• A.  Seller willing to offer and/or pay for Home Warranty Protection
• B.  Seller provides appraisal by Independent appraiser to document value of listing price
• C.  Seller's Agent provides detailed Neighborhood analysis of Homeowners community
• D.  Seller able to provide receipts and contractors names & licenses for repairs and/or improvements

7.  Flexible Possession

• A.  Home seller able to move quickly once home is sold...including the day of Closing
• B.  Home seller willing to rent back home as a tenant to New Buyer if homeowner cannot move immediately

8.  Real Estate Agent Hired

• A.  My agent  has access to the MLS and advertises through this medium
• B.  My Real Estate agent has earned Advanced Designations and has superior training.  (EX: E-Pro, CRS, Broker)
• C.  My Real Estate Agent has an agent website and is tech saavy (EX: e-mail, Palm-pilot, Notebook computer, BLOG)
• D.  My Real Estate Agent works with an Agent or Assistant Team- virtually or on-site

Scoring Template: Q1. a-0, b-5, c-15, d-10; Q2. a-5, b-10, c-10; Q3. a-10, b-10, c-5, d-5, e-5; Q4. a-10, b-5, c-10, d-5,

Q5. a-5, b-10, c-5, d-5, e-10; Q6. a-5, b-10, c-5, d-5;  Q7. a-5, b-5;  Q8. a-10, b-5, c-5, d-5

50 or Below:  In a challenging Market you will have difficulty being competitive with other homes. 

50-100 :  Your home may be being shown, but is being used to sell other houses in your neighborhood who are a better value.

100-150:  You are  fairely well positioned in a Challenging Market, but may want to enhance incentives & or pricing.

150-200:  As they say "Get Packing", Everybody loves a good deal.  Be prepared for Multiple offers!

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