Selling Your Home

Ryan Cassidy is a member of the Mallard Realty Group—a group of experienced agents dedicated to providing top-tier service! From left: James Kempski, Ryan Cassidy, Steve Marks, Neill Watson, and Michael Newport. 

2020 Listings Statistics

For the 4 quarters of 2020 my days on market average was 4 days. For the average realtor in North Carolina's Triangle area it took 26 days (per Triangle MLS).

My list price to sales price ratio for 2020 was 102.2%. I received multiple offers and more than asking price on a large portion my listings. The average realtor in the Triangle currently has a list price to sales price ratio of 99.6%, and that 2-3% difference can easily amount to $5,000-$10,000 more profit at closing. For example, a client with a $400,000 house would on average net $8,000 more. I love to prepare homes for the market and this how I can achieve these numbers.

How To Maximize Your Selling Price

I provide full staging, professional photography, 3D Virtual Tour and a licensed appraiser to measure - all at no extra cost. The staging alone makes a tremendous difference, and where other real estate firms are charging extra (sometimes $2,000+), I include it for free. If you are living in the home I will give you expert advice on furniture placement to maximize visual appeal. This along with professional photography will showcase your home in the best light. See some of my before and after shots below:

*I sold all 3 homes listed above at asking price or higher. A little work goes a long way!

Quick Stats from NAR (National Association of Realtors) on Staging

32% of realtors say staging results in offers that are 1-5% higher (3k-15k for 300k home)

16% of realtors say staging results in offers that are 6-10% higher

3% of realtors say staging results in offers that are 11-15% higher

1% of realtors say staging results in offers that are 16-20% higher

28% said not sure, 19% said no impact, and only 1% said negative impact. 

Although not in the NAR study, I have personally found that staging greatly reduces time on the market as well.

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Home Value Tool

For a ballpark value of homes for sale, please use the home evaluation tool here: http://www.trianglehousehunter.com/cma/property-valuation/

This tool is an advanced algorithm based off of nearby sales. Before listing I strongly recommend a more thorough comparative market analysis, which I will put together for you. This analysis includes adjustments based on condition, location, and nearby sales.

Tips to Sell Your Home Quickly

Below you will find a guide to sell a home quickly in Raleigh, Durham, Chapel Hill, Cary, and the rest of the Triangle.

Don’t Just Hire an Agent, Hire a Real Estate Advisor

Real estate agents are very easy to find, but a real estate advisor who knows the area, the competition and has a good network is the person you want to add to your team.

• Look for a good negotiator who can provide references from people who successfully sold properties in your area.
• Your advisor should be comfortable with leading-edge technology to effectively market your property online, which is where buyers look first and most often to locate properties.

Carefully Create a Complete Marketing Plan

Selling what is possibly your largest asset can be a complicated process.

• Your realtor should target prospective buyers and also target active real estate agents who specialize in selling homes in your neighborhood. They can promote your Raleigh home or home in any other nearby area to their network, which increases the opportunity to find a buyer.
• Determine the best tools to use to attract qualified buyers and not just the curious public.
• Talk honestly with your agent about the problems that may arise when selling your home and how to remove those challenges. 

Price Your Home Correctly At Initial Listing

The buying public has a short attention span. Pricing your home correctly when you initially list the property is key.

• Time on market will work against you since you want to generate offers before the market moves on to newer listings.

o   Statistics show that when the original list price and the final list price are equal, the average days on market are much less.

o   Statistics also show that when a home is priced correctly, the final sales price is higher overall. 

Listing your home at the best possible price is a critical component to selling your home quickly and for the maximum profit. There are several ways to determine a price for your home.

• Scope out the competition. If there are properties in your neighborhood that are currently for sale, feel free to ask us about them. What you see in the neighborhood is also what potential buyers will see, and the more familiar you are with the competition the better you can position your home.
• Use inventory data to determine timing. The housing market is constantly changing, with inventory levels increasing or decreasing. Supply and demand drives prices, as well as how long it takes your home to sell. 
• Price your home based on market data. Have your real estate advisor determine price with a market analysis. They will look at comparable sold properties and take everything into account - location, square footage, age, acreage, finishes, overall condition, etc. Sellers always have the option to pay for an appraisal, which can be leveraged during negotiations since it's a third party opinion.

A good real estate advisor will use these tools and use their expertise to price your home correctly.

Speed Up the Sales Process

As an educated seller, you can take certain key steps that will make your home stand out from the competition, attract more offers and sell more quickly.

• Make the interior and exterior of the house very clean and neat. For example, repainting will give your home the freshest possible look, and improving your landscaping will help with curb appeal. Put away toys and tools and keep pets out of sight. Uncluttered rooms and closets allow buyers to easily picture the home as their own.
• Get a pre-inspection. Having your home inspected by a professional home inspector will most likely be a part of the buyer’s due diligence process after you accept their offer. However, having your home inspected before listing will prevent issues during coming up during the transaction and allow you to do key repairs on your own time and within your own budget.

Successful Negotiating

It’s your real estate advisor’s job to negotiate with the buyer and buyer’s agent, but you should stay involved in the process.

• After the offer is made, ask your agent to find out as much as possible about the buyer and their situation so if you choose to counter, you can do so with terms that are most likely to be accepted. For example, if they are a renter and don’t have a fridge or washer/dryer you can decide if you’d like to include them. It’s also good to know if they need to move quickly since they will be less likely to have a long negotiation process if they have a tight deadline.
• Try to minimize the details that you provide about your situation, and don’t be confrontational. Their offer may be below list price, but don’t be offended. Instead, counter offer to bring the price closer to what you are asking. If you feel the offer is not fair and you can’t find middle ground, you can always reject it and wait for another buyer. Your real estate advisor will help you make difficult decisions like these throughout the sales process. 

Navigate the Closing Process Effectively

Once you receive the signed contract the buyers and their realtor will perform a home inspection, and the repair items will be negotiated.

• If there are too many home inspection items, the buyers may back out of the contract, which is why a pre-listing home inspection is so important.
• The buyer’s lender will also appraise the property, and if the appraisal comes in low the sales price will have to be renegotiated between the parties.

Next is the closing, which makes everything official and is when the seller gets paid and the buyer receives the deed.

• Expect the buyer to walk through the home on or just before the day of closing.
• Before the day of closing, your real estate advisor should review the HUD statement to be sure all financial details are correct.

o   At closing, sellers usually pay the following costs:

§  The remaining mortgage balance and prepayment penalties, if applicable.

§  Property taxes, document stamps (taxes on the deed) and any other unpaid fees such as special assessments.

• The closing attorney will look over the contract and identify the parties that owe payments and the amount. The attorney will also issue checks for the closing costs, record the deed, and forward any money due to you.

Savvy sellers know that a little work up front will pay off by attracting qualified buyers and allowing the closing process to move forward smoothly. The sale of your home can be a pleasant and profitable experience with planning, and with a good real estate advisor by your side throughout the process.