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Analysis is an ongoing pursuit throughout every real estate transaction

Friday, August 16, 2019   /   by Barry Owen

Analysis is an ongoing pursuit throughout every real estate transaction

Analysis happens throughout the process. We begin with the Comparative Market Analysis to help determine your listing price. We contact every agent who shows your house to learn any feedback. Our intent is to hear any constructive criticism of your house . . . Did the agent or Buyer notice anything negative about the house that we can correct? . . . How does the agent think the price stacks up against other houses he/she has shown? . . . Is the Buyer interested and do they need any additional information to help them with their decision to purchase. We will pass along any appropriate information to you. 


 


Our analysis continues as we market your house and get feed-back from various sources. Each week, we will up-date you on general market activity and inform you of any feedback. Periodically, we will do a new market analysis just to be certain our price is still in line with the rest of the market. We want to keep you informed of other market activity in your neighborhood. Sometimes (especially if showing activity is low), we will recommend reducing your price. This move is purely strategic (to get your house sold more quickly). Each time we do this, we will be determining your net proceeds from the sale and keeping in mind that you might need to have a bit of negotiating room. 


 


Seasonal Markets are a large factor in the sale of residential real estate. The Nashville market is typically "hottest" in the Spring. This is the time many folks choose to list their houses because the weather is nicer, and the perception is that more buyers will be out shopping. Because of this, there are more sales in the Spring than any other time of the year. Our belief is that there are more sales because there are more buyers and sellers in the market . . . not because of any magical intervention. The HOT/HUMID summer months seem to slow things down . . . Crisp Fall livens the pace . . . The Holiday season brings with it market doldrums . . . and the dead of winter seems to be the time for the gradual spooling up of the Spring market . . . What does all of this mean to you? 


 


When is the BEST time of the year for you to list your house for sale? We believe that the BEST time is that time when YOU are ready. We believe that the most essential piece for a successful home sale is YOUR commitment and NOT the current market conditions. Regardless of the time of year if you offer a clean, well maintained house at a reasonable price, the market will respond by bringing you a buyer. 

YAY!
Our marketing efforts bear the fruit of an OFFER. Our first action is ANALYSIS!
Together, We carefully study this offer for complete understanding of the terms the Buyer is offering. Unfortunately, it is not uncommon for a REALTOR to email an offer with no prior interaction, no explanation of the Buyer's situation, and no direct communication (Telephone or email). In all cases, we the Vital Few ALWAYS make every effort to have a conversation with the Buyer's agent to confirm receipt and to see what we can learn about the Buyer's scenario.

In a home sale, analysis is about more than just the $ numbers because there are so many others that can come into play.
Does the Buyer need to sell a house before being able to buy yours?
Is the Buyer's financing solid?
Is the Closing date offered realistic . . . and does it align with the Seller's preference?
Are there any weird contingencies that could complicate the transaction?
Is the Buyer asking for Seller to pay loan related closing costs and prepaid expenses or asking for any other financial concessions?
Is the offer contingent upon acceptable Home Inspection and Appraisal?
Are the "performance deadlines" realistic?

All of this scrutiny of the offer is crucial analysis to be done so as to be able to build a strategy for the ensuing negotiation.
Rest assured, the Vital Few agents of Pareto Realty are seasoned and well equipped to ask the right questions and research any perceived gaps in understanding. This thorough analysis phase serves everyone in the transaction well, because without full understanding of all terms, the potential for the deal to come apart later in the process.

Our next phase is Negotiation


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