There is more to selling a home than you might think. Superficially, a person might think that it will sell itself currently because, nationally, homes for sale receive 3.6 offers and they sell within 18 days.

Any business student can probably list the four Ps of marketing: product, price, place, and promotion. It may appear that there isn’t much to selling a home: put a price on it; photograph it; put a sign in the yard; and, put it in MLS but, on closer scrutiny, there is a lot more that the best agents provide.

Long before the home goes on the market, the agent will create a detailed value and pricing study based on similar homes in size, price, proximity, and condition. An overpriced home will sit on the market longer than it should. The longer it stays on the market, buyers, as well as other agents, begin to wonder if there is something wrong with it.

The agent will develop a plan to make the house show at its best because first impressions matter, and this type of effort provides a neutral canvas for buyers to start imagining their things in the home.

The marketing plan is a comprehensive strategy to consider every aspect of selling the home with the focus being to maximize efforts to get the highest possible price, in the shortest time, with the fewest unanticipated events.

The individual marketing materials need to present the home in its best light. It begins with great, “enhanced”, photos because today’s buyers will most likely, first see the home online; and if the pictures don’t make the property look good, they may decide not to see it. In addition, those photos will be used on the brochures for the home and just listed announcements, as well as social media. They are crucial.

Among the most important value the agent brings to the table is their negotiation experience. Every phase of the sale involves negotiation and the position of third-party negotiator eliminates an uncomfortable situation for sellers having to deal directly with buyers, other agents, appraisers, inspectors, and lenders. Your listing agent will be your champion. Having a team of agents with years of negotiating thousands of contracts is essential.

The following list includes typical things that most professionals will provide. When interviewing an agent, feel comfortable to ask questions regarding their position on these items. Another item you might find helpful is our Sellers Guide.

Listing Presentation

• Create Value/Pricing Study
• Staging/DeClutter Plan
• Develop Marketing Plan
• Document Preparation

Marketing

• Great photos
• Property Description
• Lockbox
• Sign
• MLS & Portals
• Flyers
• Showings
• Answer phones
• Prospect for buyers
• Consistent Follow-up – Seller
• Inquiry phone calls
• Pre-qualify buyers
• Maintain files

Negotiations

• Discuss with buyer’s agent
• Review offer
• Provide Net sheet
• Present offer
• Negotiate

Pending

• Inspections
• Appraiser
• Resolve Issues
• Review Escrow Statement
• Track buyer’s loan progress
• Coordinate closing
• Documents Review

Soft inquiries, sometimes known as a soft credit check or a soft credit pull, do not impact your credit scores because they are not attached to a specific application for credit. They can occur when a credit card issuer or mortgage lender checks a person’s credit for preapproval purposes.

Examples of soft inquiries are when you check your own credit or one of your current creditors checks your credit. If you are concerned about the negative impact on your score, specify to the lender that you want a “soft pull” to see if you qualify for preapproval.

Soft inquiries may appear on your credit report but should not adversely affect your credit score.

Consumers are entitled to one free copy from each major credit bureau, Experian, Equifax and TransUnion, once every twelve months available at AnnualCreditReport.com.

Hard inquiries occur when a borrower makes a new application for credit. These will impact your credit score and will remain on your credit report for about two years. The impact is usually minimal and scores tend to rebound within a few months if no new negative information appears.

Borrowers may be concerned about multiple inquiries when they are shopping for rates or even approvals. Scoring models have algorithms to account for this situation if the inquires take place in a 14 to 45-day period.

Even a hard inquiry should not necessarily concern you and probably, will only play a minor role in your score. Soft inquiries, regardless of how many you may have will not impact your score.

Working with a trusted mortgage professional and sharing your concerns in advance of the “hard pull” is valuable. This mortgage professional may even be able to advise you on some things that could improve your credit score which may actually improve your score which could result in qualifying for a lower rate that could save thousands and possibly, tens of thousands of dollars over the life of your mortgage.

Your real estate professional can recommend a trusted mortgage professional to you.