Sellers Package
Whether your move was prompted by a corporate relocation to another city or prompted
by your looking for a different location or home with alternative home amenities within
the same city, the decision to sell your home is never easy. With over 20 years of
experience in the Lake County real estate market, my team and I will successfully list
and market your home. It is my personal goal to provide you with superb customer
service and to sell your home at the right price.
Enclosed you will find materials designed to familiarize yourself with the steps for a
successful home sale. This package includes a review of the home selling process, steps
for better presenting your home to potential buyers, terms and sample forms, and
pricing and Offer of Acceptance details.
As your listing agent, my staff and I are always available to help with questions.
In addition, if you are moving to another state, I can request assistance in your
destination city. Take advantage of the RE/MAX network. You can trust that your
referral will be handled with the utmost care and that you will get the best service
available to you.
Also, please remember to visit my internet site www.bestlakecountyhomes.com . There
you can find links for home repair and remodeling resources, temporary housing
options, and links to real estate tips and news.
Thank you for the opportunity to assist you and your family.
Lynn
Lynn Fairfield
Executive Relocation Specialist
Broker Associate, GRI, ABR
STEPS IN THE SELLING PROCESS
Decision to Sell
Selecting a Listing Agent
Initial Home Tour
Pricing and Marketing Strategy
Showing to Sell
Offer to Purchase
Home Inspection and Repairs
Closing
Top Five Reasons a Property Sells
1. Location
2. Price
3. Terms
4. Condition of the Property
5. The Agent You Select
YOU control four of these!
Agency Definitions
My goal is to create an open channel of communication. With the creation of a buyer’s
agent agreement, your rights as a buyer are specifically outlined and my responsibilities
and duties to you are clearly defined.
Agency: This is a framework that has developed in the law to allow individuals to act
through another person or representative. This particularly occurs in commercial
transactions. Examples might include hiring an attorney to represent you in a business
transaction, working with a stockbroker to purchase stocks, or working with a real
estate agent to buy or sell real estate. Your legal Agent may have unlimited or limited
powers on your behalf. Your legal agent owes you certain fiduciary-like statutory duties
such as confidentiality, promoting your interests, and exercising reasonable skill and
care.
Designated Agency: This arrangement is with a real estate brokerage company and
results in one or more sales associates with that company being designated as your
legal agent. Illinois State law presumes that the agent you work with, whether you are
a buyer or a seller, is your designated agent, unless you have an agreement otherwise.
Other sales associates in the real estate firm may be the legal agents of other
buyers/sellers and may be the legal agent of the party from whom you buy a property.
The only individuals owing you statutory duties are those designated as your legal
agent and not any other sales associates within RE/MAX Suburban.
Buyers Agent: This agreement will identify your designated agent, define the scope of
your agent’s authority, and spell out contractual rights and duties between you and the
designated agent. As a buyer, you’ll have access to listings available to your designated
agent through the multiple listing service (MLS), for sale by owners, and other sources.
You will also receive other services from your agent such as financing information,
assistance in determining your price range, and assistance in facilitation the closing.
Typically, the buyer and RE/MAX Suburban will enter into a written brokerage
agreement.
Dual Agency: In this type of situation, both the buyer and seller in a transaction are
represented by the same legal agent. There are specific statutory duties that the dual
agent owes to both buyer and seller. Most notably is the duty not to disclose
confidential information of one party to the other. Dual agency is allowed only with
your consent. Upon entering into a brokerage agreement you will be given a form
explaining dual agency that seeks your consent to allow your agent to act as dual agent
should the situation arise. Please note that in a dual agency situation, the role of the
sales associate will be somewhat limited and you may have to act on your own behalf
when negotiating terms of your purchase.
Selecting a Listing Agent
Once you have decided to sell your home, selecting your listing agent is the next
important decision. With the advent of the Buyer’s Agency, you are guaranteed that I
will work solely for you and your family. And, as an experienced agent with a strong
track record of sales, I can provide the services and attention to detail you expect.
Typical questions I receive when talking with potential clients include:
1. Do you have a 4 year college degree?
2. What professional designations have you earned?
3. How many years have you bought and sold real estate?
4. How many homes have you sold?
5. Do you provide home display books for potential buyers?
6. What is your average days-on-the-market per listing sold?
7. What is your average list-to-sales price ratio?
8. What types of report forms do you provide to sellers?
9. Will you be marketing within my neighborhood?
10. May I see a sample property brochure?
11. What is your written marketing plan?
Client Profile
Name(s):_______________________________________Date: ______________
Address: ___________________________ Home #:_______________________
City: __________________Zip_________ Work #: _______________________
Email: _____________________________ Cell #: ________________________
Family members: ______________________ Age: ________
_____________________ Age: _________
_____________________ Age: _________
Pets: _____________________________________________________________
Expected Date of Property Listing: _____________________________________
Desired Closing Date: __________________Transfer Date: _______________
Additional Information __________________________________________________
______________________________________________________________________
______________________________________________________________________
What were the three most important considerations in selecting your agent?
1.________________________________________________________________
________________________________________________________________
2. _______________________________________________________________
_______________________________________________________________
3.________________________________________________________________
________________________________________________________________
Property Inspection
Property Address __________________________________________________
Property Exterior
Walks & Driveway Condition ______________ Yard Condition _______________
Fence?__________ Pool? __________ # Car Garage/Condition _____________
Location Notes _________________________________________________
General
# Rooms/BR/BA_______________ Style _______________ Apx. Age _______________
Condition: ___Excellent _____Good _____Average _____Fair ____ Poor
Condo/Townhouse: Complex Name ___________________________________________
# Units in complex _______________ $ Monthly Assmt _______________
Assn Mgmt. Co. Name/Ph # _________________________________________________
Utilities
Electric________________________________________ Gas_____________________________
City Sewer/Water________________________________ Well/Septic ______________________
Neighborhood Information
Schools: Grammar__________________________ Middle___________________________
Jr. High ___________________________ High School ______________________
Parochial___________________________________________________________
Public Transportation___________________________________________________________
Churches_______________________________ Recreation ___________________________
Property Interior
Entry/Hall Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Living Room Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Windows & Trim ________________________________________________________
Dining Room Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Windows & Trim ________________________________________________________
Kitchen Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Cabinets wood/painted ___________________________________________________
Countertops color/type ___________________________________________________
Appliances Included ______________________________________________________
Appliance condition _______________________________________________________
Family Room Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Windows & Trim ________________________________________________________
Powder Room Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Tile and Grout ___________________________________ Plumbing_______________
Bedroom #1 Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Windows & Trim _________________________________ Closet _________________
Master Bath Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Tile and Grout ___________________________________ Plumbing_______________
Bedroom #2 Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Windows & Trim _________________________________ Closet _________________
Bedroom #3 Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Windows & Trim _________________________________ Closet _________________
Bedroom #4 Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Windows & Trim _________________________________ Closet _________________
Hall Bath Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Tile and Grout ___________________________________ Plumbing_______________
Other Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Windows & Trim _________________________________ Closet _________________
Basement Flooring _______________________________________ Ceiling _________________
Foundation/Walls ________________________________ Finished _______________
Utility Room Flooring _______________________________________ Ceiling _________________
Walls Color/Paper _______________________________________________________
Mechanicals Furnace __________________________________ Air Conditioning_______________
Plumbing _________________________________ Humidifier ___________________
Water Heater ______________________________ Other ______________________
Recommended Repairs ____________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
Approximate Cost of Repairs $ ______________________________________________________
General Comments _______________________________________________________________
_______________________________________________________________________________
Initial Walk-Through
Together we will schedule and conduct an initial walk-through of your home. Any
special benefits which you have enjoyed about your home or items that originally
attracted you to your home are of interest. Tell me about the age of the neighborhood,
ages of children in the area, community activities, and nearby shopping areas. The
features that attracted you may also attract the next buyer.
We also will review existing warranties, completed repair work, and various other items.
Please have the following items prepared for our initial meeting:
Warranties on items such as furnaces, AC, roof repair
A listing of completed work and upgrades to the home
Most Recent Tax bill
Utility Bills
Plat of Survey
During our initial walk through it is also important that you point out which items you
intend to leave with the home and which ones you plan on taking. By clearly listing
items which will be included and those that will be excluded in the listing contract there
will be no confusion. As an example, you have an elaborate dining room fixture that
looks to be permanent. The buyer may assume that it comes with the home when in
fact it is an heirloom that you will be taking with you to your next home. If it is not
clearly stated in the listing agreement that it will not be included the sale, there could
be delays at closing. I will also want to know your willingness to negotiate on other
items such as the washer and dryer.
Finally, I will need to know if you have any objections to certain items in your home
being photographed and included in an online virtual tour or pictured in advertised
materials.
Recommendations for Maximizing Curb Appeal
and Getting Ready to Show
Preparing your home for sale need not be an expensive or time consuming process. I
can help you develop a plan and a schedule to get things done. A number of sellers
want to change too much and often waste money on things that are not of interest to
potential buyers. Together we can target key selling items based on market trends.
Pack Before you Show
Nonessential furniture and items from every room can be stored to give your home a
roomy uncluttered appearance. Furniture that is large and comfy can give the
impression of a tight space. Potential buyers will look and review storage space so
open and check closets.
Plan a Garage Sale or Donate Items to Charity
There is no better time to clear out items you’re not using. In addition to clutter
reduction, you’ll reduce the amount and expense of items to move.
Curb Appeal
Look at your home with a critical eye. Will your home make a good first impression?
Look at the grass and hedges – do they need to be trimmed? Are toys and animal
evidence visible? Is the front walkway and entrance clean and inviting? Are doors
working correctly, doorbells in working order and polished? You are inviting buyers
into your home; these items can affect their attitude.
Getting Ready to Show
A fresh coat of neutral paint is one way to add a clean crisp feel to a home. Also,
take a hard look at flooring especially in the kitchen and bathroom and make sure it
is cleaned.
All surfaces including wood and counter top surfaces should be clean, bright and
polished.
Prepare for Showings
Open drapes and shades to let in light and make rooms appear larger.
During evening showings, make sure porch lights and outdoor lighting is on.
Avoid having dirty dishes in the sink or on the counter. Run disposal.
Add a fresh light fragrance to the air, such as a comforting meal cooking on the
stove.
Keep toys in an organized fashion.
Bikes, wagons, skateboards should be out of the way.
Keep radio, stereo and TV turned down.
Take your family out of the home. If you are home, try to remain in an area that is
not being shown by the Realtor.
Refer any inquiries you receive about seeing your home to your agent.
Try to keep pets outdoors or out of the way.
Remove or store items that you do not wish buyers to view in person or in any
printed advertising.
Home Showing Procedures
It is important that we have all contact numbers and procedures for showing in place so
that we do not miss any potential buyers.
Some sellers will not allow showings if they feel their home is dirty or if they haven’t
had enough time to prepare. It is better to show a less than clean house then not to
show one at all.
Property: _________________________________________________________
Primary Contact: ___________________________________________________
Home: _______________ Cell:_______________ Other:_______________
Alternate Contact:
Home: _______________ Cell:_______________ Other:______________
If neither contact can be reached then _____Show _____ Do not Show
How much notice of showings would you prefer?
_________________________________________________________________
Pet Situation
How many pets?_________ Are pet(s) friendly? _____ Yes _____ No
Animal(s) will be located in ______________________________________
Are any areas off limits to buyers?
_________________________________________________________________
Any special procedures for locking/unlocking doors including the garage?
_________________________________________________________________
_________________________________________________________________
Additional Comments:_______________________________________________
_________________________________________________________________
Price Determination
The interesting thing about pricing is this – it doesn’t really matter what either you or I
think the listing price or selling price should be. What matters is what actual buyers
have paid for properties similar to yours with similar amenities, in a comparable
neighborhood, during the current real estate cycle.
To determine your homes worth in today’s market, we will take a look at the recent
history of comparable homes that have sold in your neighborhood and nearby
community. I will develop a Competitive Market Analysis (CMA). The CMA identifies not
only homes that have sold, but also houses that are still active on the market, those
that are pending-or-ready to close, and those that have been recently taken off the
market. Through this study I can determine your homes probable fair market value
range. This range gives a fair approximation of how much your house will sell for and
approximately how long your home will be on the market. Together we will establish a
realistic price which will net you the highest possible dollar in the shortest period of
time.
After we have established your homes optimum price, I will prepare a net proceeds
sheet. The net proceeds formula page outlines the various closing expenses you can
expect and gives you an idea of what you will net from the sale of your home.
“Price is first and foremost in the minds of buyers.
When a seller prices a home right it will sell well.”
Dangers of Overpricing
Many potential buyers won’t even look, thinking it’s out of their range.
Those buyers who do look are shopping by comparison, and looking at your home may
convince them to make a bid on a different home.
Since an appraisal is often required in financing a property, it is futile to price a property
for more than it’s worth. The appraisal will determine the loan amount a lender will be
give for a mortgage.
Properties left on the market for extended periods of time usually become “shopworn”;
causing many to believe something’s amiss.
Overpricing tends to dampen the other salesperson’s attitude, making it less likely to be
shown.
Overpricing lengthens marketing time, and invariably results in a lower selling price
than would have been otherwise obtained.
Realtors do not control what a buyer may purchase, but do control what a buyer sees
by searching a specific price range. If your property is comparable to others at a lesser
price but priced out of the “search range” a potential buyer will never see your home.
Good condition of your home does not make it worth more than others that are
comparable in your marketplace, and poor condition does lower the value a buyer will
place on a property.
Development of a Strategic Marketing Plan
A solid marketing plan will drive buyers to your home. Your strategic marketing plan will
include a combination of media and services. The marketing resources I utilize
maximize buyer access and exposure to your home. They include:
Multiple Listing Service (MLS)
Website Postings
Print Advertising
Open House Events
Agent Tours
Full Color Buyer Brochures
Yard Signage (with or without take able flyers)
Feedback and Reports
My office will maintain a feedback report on your property. You can expect to receive
the feedback report and copies of advertisements on a regular basis. Together we can
review the comments and make any adjustments. Remember, every buyer has a
different “Dream Home” so don’t become discouraged by a negative comment or an
offer not being tended immediately. Be patient and keep your spirits up!
You can expect that all agents that tour your home will be contacted and asked for their
comments. Unfortunately, not all agents respond with feedback. We will make every
attempt to receive comments. It is not necessarily negative when a feedback response
is not received. Also, it does occasionally occur that agents do not keep their
appointments or fail to leave a business card behind after showings. Again, we will
always follow-up.
Offer to Purchase
When a buyer makes a decision to purchase your home they will complete an offer to
purchase. It will be written by the buyers’ agent and presented to you by myself. The
offer will cover the areas of earnest money, down payment, financing, possession and
closing, and most importantly, the price. You will be asked to accept the offer by
signing the purchase agreement or to note desired changes and submit a counter-offer.
You may, of course, reject the offer. It is usually better to prepare a counter proposal if
the buyer is a qualified buyer rather that reject. Why? By countering the offer, you are
able to let the buyers know what you will accept and it is in writing. A word of caution…
if the offer is similar to you expectations you may want to accept the offer rather than
give the buyers time to rethink their purchase decision.
Price is negotiable, as is earnest money, and closing date. Buyers may ask that you
include the window coverings, porch swing, fireplace doors, and that certain appliances
stay with the house. You can also negotiate contingencies such as “contract is subject
to buyer obtaining a satisfactory financing.” Negotiations may go back and forth, but
once you accept and all parties have signed for the changes in the offer there is now a
binding contract.
What is a Qualified Buyer?
A qualified buyer is one that has secured financing for their new home and is ready
to buy. Many deals have fallen through because buyers were unable to secure
financing. A buyer that is pre-qualified distinguishes themselves from those just
looking and lets you know that they are serious about buying your home. If you have
multiple offers, a pre-qualified candidate has the edge over the other non qualified
offers.
A Low Ball Offer
As a home owner you take pride in your home. So when a buyer offers a price well
below your asking price it can be a shock and make you angry. Sometimes the low
ball is a ploy to find out exactly how low you are willing to go. A buyer that is
insultingly under market value may have no real intention of buying. As the seller,
you can choose to outright reject the offer and wait for a qualified buyer.
Home Inspection and Repairs
The buyer will have a home inspector scheduled for an appointment within 5 days of
the contact signing. Home inspectors will closely scrutinize the wiring, plumbing, roof,
and general condition of the property, and make recommended repairs based on the
results. Often the repairs are simple and can be made by the seller. More expensive
repairs may require professional tradesmen. Your lawyer and I can help you to
determine which repairs you will make. You also may offer a credit to the buyer so that
they can make the desired repairs or you can simply reject the request. Rejecting the
requested repairs relieves the buyer of any further obligation and they may exit the
contract. In most cases, an equitable agreement is reached between the parties.
Closing Checklist
Once the home inspection is completed, you and your buyer will both have your respective
attorneys review the legal language of the contract. An attorney can amend, delete or add
any legal language that is necessary, but does not change the price or the dates you have
agreed to with your buyer. The buyer will then apply or finalize their mortgage. The
lending bank will have an appraisal completed on your home. A title search will be ordered
by your attorney. Just before the closing, the buyers will probably have a final walk
through of your property. At the walk through, the buyers are verifying that the home is in
the same condition as it was when they originally decided to purchase it. You will need to
be completely moved out prior to this last walk through. Finally all parties will meet for the
closing. Closing is a great time for both buyers and sellers.
For closing you will need the following items ready:
1. All keys to the property
2. Garage door opener(s)
3. Check for all credits back to the Buyer for repairs
4. A Drivers license or picture ID
5. Utilities transferred to new owner
6. Receipts for any work done as a result of the contract negotiations
7. Final amount due at closing should be ready in a money order or certified check
made payable to yourself.
Moving Checklist
Address Changes __ Inform police if house vacant
__ Post Office __ Leave behind appliance manuals & extra keys
__ Charge Accounts
__ Subscriptions __ Moving company arrangements
__ Relatives
Insurance Policy Changes Banking
__ Health __ Transfer Bank Accounts
__ Life __ Checking
__ Auto __ Savings
__ Home Owners __ Safe deposit box
__ ____________ __ IRA’s & stocks
Utilities Medical
Remove your name from utilities effective __ Obtain Birth and Baptismal records
date of closing. DO NOT DISCONNECT, __ Pediatrician/Specialists
NEW OWNERS WILL PICKUP SAME __ General Practitioner
DAY! Get refund of any Deposits made, __ Dentist
and advise where final bills are to be sent. __ Pharmacy Records
Set up any utilities for new location. __ _______________________
__ Water
__ Gas
__ Telephone __ School Records
__ Fuel __ Pet Vaccination records
__ Trash Removal __ Pet Boarding Arrangements
Cancel Deliveries Membership Transfers
__ Mail __ Church
__ Newspapers __ Fitness Club
__ Groceries __ Civic Organizations
__ Magazines __ Veterans notify your VA office
__ _______________ __ ___________________
Other
__ Have drug prescriptions refilled
__ Inspect car checked for trip
__ Pick-up drycleaning
__ Leave keys and necessary documents with Real Estate Agent
__ Remove garage door openers from cars
__ House plant arrangements (movers will not pack plants)
__ Empty lawn mower and dispose of liquids and gases the moving company will not take
What Lynn Fairfield’s past clients are saying. . .
Lynn is a hard worker and knows what she is doing!
1535 Auburn
Lynn is outstanding!
17602 Winnebago
Lynn is great, a complete package!
Anonymous
Lynn found us the right house. Thanks for the hardwork!
Tabatha Skarbek
We recommended Lynn to our neighbors.
Ron & Diane Traub
Great Job! Wish we had gone with Lynn in the first place!
Nancy & Guy Keehn
Thanks for helping with our purchase. You made a stressful time bearable.
Marge & Phil Stephani
Thank you for your fairness, it was a pleasure doing business with you.
Adrienne
Lynn is the best Realtor we ever had!
Rosie & Rich Jannick
We were happy with Lynn when she helped us buy this house, and now when she sold it.
. . . Sold in less than 8 days our third house. Thanks Lynn!
Keith & Amy Yunger
Lynn is the best!
Todd Vigor
Lynn is an expert on selling in Grayslake. A fantastic marketer!
Jim & Leslie Meyer
Thanks for all your help. You made the move from California less stressful.
Steve & Cathy B
Remodel or Resell?
PROJECT % RECOVERABLE
Adding a full bath
To a 1-1/2 bath home 80%
To a 2 bath home 50%
Adding a half bath
To a 1-1/2 bath home 60%
Bedroom Addition
To a 3 bedroom home 75% - 85%
To a 4 bedroom home 65%
Garage Addition up to 50%
Fireplace Addition up to 75%
Turn a basement into a Recreation room up to 15%
Enclose a porch 50% - 60%
Install central air up to 75%
Install a new heating plant 0% - 100%
Repaint frame house 30% - 80%
Install new exterior siding up to 75%
Landscape 40% - 60%
Pool Addition 0% - 40%
Patio Addition 35% - 60%