IMPORTANT POINTS FOR SELLERS

Everyone has their own reasons for selling property – a new job, relocating to a new city, the kids have moved, or a new child is on the way. When you are ready to sell, Team O of Level Group are skilled and ready to accept the challenge of marketing your property and representing you every step of the way. There are several important points a Seller should consider first when choosing a real estate broker like Team O: 

Season – spring is the most active period for sales and winter is the least active. A home that hits the market in April would be expected to sell more quickly than one starting in December. 

Price – if not properly priced, your property will either sell too quickly (if priced below market) or else languish on its way to being a “stale” listing, overlooked by everyone (if priced too high). 

Market – the general trends of supply and demand can greatly affect the timing of a sale. Interest rate movements are the most significant factor for fueling or dampening sales.

Clean and Freshen

  • Scrub and clean bathrooms and kitchens until they sparkle!

  • Wash all windows – open blinds and let the light in.

  • Target bad smells – smoking, pets and trash especially.

  • Add fresh flowers for a special touch.

Organize

  • The aim is to create visual space everywhere you can.

  • Get rid of all clutter and toys – clear off countertops and tables.

  • Clean and organize closets making them appear larger.

  • Dispose or store all unnecessary furniture.

Repair and Paint

  • Fix leaky faucets and squeaky or sticky doors.

  • Replace missing door or cabinet handles.

  • Fix or replace broken appliances.

  • Paint if possible, using neutral colors – nothing helps more than a freshly painted look and smell!

Staging – Team O specializes in Staging an apartment. We work with and manage the entire staging process including contractors, designers and stagers to make your apartment appealing to the largest group of potential purchasers. 

 

IMPORTANT QUESTIONS FOR SELLERS

How much is your property worth? Of course everyone wants the highest possible price for their property. However, establishing a proper initial price for your home is essential to a timely sale. Priced too high, you will be overlooked in favor of other options. Too low, you will be leaving money on the table. Ultimately, the value will be determined by a number of factors including property characteristics, market conditions, and skillful negotiation. Team O can prepare a comparative market analysis for you to help pinpoint the right initial asking price. 

When do you want or need to sell? Timing is a critical element to the sales process. From the time your property hits the market, a sale could take anywhere between two and eight months to happen. Make sure that arrangements for a new home purchase or rental are mostly secured prior to putting your current home on the market. In order for your sales timing to coincide with when you need to move, you must have a strategic marketing plan which accounts for a number of different factors including: 

Is your home buyer ready? An essential part of any sale is staging the property to show it in the best possible light. In most cases, a buyer will make up their mind within five minutes of entering your home. Cleaning, painting and small repairs can make a HUGE difference in creating that critical first impression. Try asking a friend or a neutral third party to act as a “buyer” and preview your home – tell them to be harsh with their opinions because that’s exactly what a buyer will be doing! Included on your list of buyer ready staging might be: 

Have you created a strategic marketing plan? Team O will create a detailed list of your property’s most attractive selling points. You may also legally be required to disclose certain major issues or problems with your property to potential buyers. Team O’s agents have an unmatched ability to advertise your property to the brokerage community and directly to potential buyers via our linked network of advertising distribution.

What about the listing agreement? When you hire Team O, you'll sign a listing agreement. Initially we recommend that you commit to six months. Team O will hold weekly open houses to both the brokerage community as well as direct marketing and target purchasers and existing clients. 

Who pays the commission? The seller is almost always responsible for paying the commission to the real estate brokerage company handling the sale of the property. That company will then be responsible for paying the individual agent and any “co-brokers” involved in the sale. Most, but not all, sales in New York City involve more than one brokerage company – the broker representing the seller (also called the “Listing Broker”), and the broker representing the buyer (the “Buyer’s Broker”). The seller pays only ONE commission which is typically split between the Listing and Buyer’s Brokers. 

How much is the commission? A brokerage commission is always negotiable however in New York City, six percent of the total property selling price is a typical amount. Keep in mind that out of the total commission amount numerous parties are being paid including the listing brokerage company, the listing agent, the buyer’s brokerage company, and the buyer’s agent. 

Do you have an attorney? You should have the name and contact info of your attorney ready to give to your agent. The seller’s attorney will be responsible for preparing the sales contract. You definitely do not want to delay the process of getting the contract prepared once a buyer has made an offer that you are willing to accept. Your agent will do their best to represent your interests throughout the course of the sales process, however, NO agent is allowed under law to provide you with either legal or accounting advice. If you need an attorney, Team O works with numerous attorneys who are experts in navigating the New York City real estate market and will be happy to assist in recommendations for you to consider. 

 

Fair Housing Statement 
We are pledged to the letter and spirit of United States policy for the achievement of equal housing opportunity. We encourage and support an affirmative access to service in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin by:

  • Providing equal professional service to all.

  • Keeping informed about fair housing laws and practices, thereby expanding upon our customers' and clients' opportunities.

  • Demonstrating through advertising and the media that everyone is welcome and no one is excluded.

  • Informing our clients and customers about our rights and responsibilities under the fair housing laws.

  • Documenting our efforts to provide equal professional service whenever possible.

  • Committing to continue in the development and implementation of fair housing practices in accordance with our leadership role in the real estate profession.

  • Refusing to tolerate non-compliance.

We endeavor to treat all parties fairly and honestly and to support equal housing opportunities.

For more information on Fair Housing Laws, please review this link to the Fair Housing Notice issued by the New York State Division of Licensing Services or visit https://dhr.ny.gov/sites/default/files/pdf/nysdhr-fair-housing-guide.pdf.