I thought I would share a few details that go into preparing for a listing appointment. A listing appointment is an opportunity for a real estate professional and a seller to sit down and review the factors that go into what will hopefully become a successful sale of a property.
When I go and meet a seller like I did today there had already been some significant preparation prior to our appointment. On Thursday, I put the owners name into my system at work and pulled his tax records for the unit. The tax records are public information that show the year the unit was purchased, the taxable appraised value, the square footage, the bedroom/bathroom mix, the legal address and much more. I then called the title company and requested the deed and legal description. All of these documents go into my listing file that I use all the way until we reach the actual closing date where the seller passes off the keys to the new buyer.
The next step for me was preparing the CMA or Comparative Marketing Analysis. I did this on Friday. This document provides an in depth look at how the sellers unit compares to other active, pending and sold listings in the neighborhood. I also include all sales that have occurred in the building as well. These neighbors often give me the best information in terms of what the market will be willing to pay for our particular unit. The CMA usually includes 8-10 pages. The pages within the document are as follows (cover page, unit profile, current state of the market, current state of the neighborhood, comparable properties active, comparable pending sales and solds, core recommendations, final analysis and price recommendation).
On Saturday, in some cases I will drive the neighborhood, look at some of the comparables, and will often gain access to the building. If I am unfamiliar with the building, I will take a peek at the amenities (weight room, rooftop deck, owners lounge etc….) so I can be prepared to make an educated recommendation in regards to the price. Every condo buyer is different. Each and every building downtown is equally as different. Thus, making it impossible to treat then the same. Both price and presentation depend on a thorough analysis of the building and its offering. Thankfully in my situation, I have had the opportunity to see most of the buildings in the greater Seattle and Bellevue core.
Finally I meet with the seller. We met this afternoon and we went through the above mentioned. After the CMA, I shared my exclusive marketing and strategy campaign and worked through any questions or concerns. Thankfully the seller liked what I had to say. This is always a rewarding experience. Especially when your hard work and preparation pays off. The art of getting the unit on the market now is another story. I will be sure to share this process at at later date.
I hope you guys enjoyed this quick look into a listing appointment. Everyone does it differently, this is just how I do it in my world.
As always, please feel free to e-mail me with any questions firstname.lastname@example.org