THE HOME SELLING PROCESS
Sellers
Attracting the highest possible value for your home requires proper preparation. You need effective marketing and an expert knowledge of local market conditions. IWe can help you navigate the process and ensure your experience is as positive as it is successful.
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Initial Pre-Listing Consultation
During the initial pre-listing consultation, we will take the time to understand your specific goals and objectives for selling your property. Our dedicated team will thoroughly assess your property, engage in detailed discussions about current market trends, and provide you with personalized recommendations to maximize its appeal and value. Our goal is to ensure that you feel confident and well-informed as we work together to achieve your real estate goals.
Preparing Your Home
Your home's first impression matters, and getting it ready for potential buyers is key to a successful sale. The goal is to create a welcoming and neutral environment that allows potential buyers to envision themselves living in the space. It creates a clean, open canvas that allows them to see the full potential of the home.
Setting the Right Price
Pricing your home appropriately is a critical factor in achieving a successful sale. It's essential for maximizing your sales price and minimizing the time your property spends on the market. There are different approaches to pricing your home, and it's important to consider factors such as the condition of your home, recent sales in your neighborhood, and the current demand from buyers. The Heather Domi Team will implement a well-thought-out pricing strategy to attract more potential buyers and facilitate a quicker sale.
Upfront Due Diligence
New York is an attorney state when it comes to real estate transactions. It's essential to consider hiring an attorney at the beginning of the home selling process to conduct a preliminary review of your property. This proactive approach can help identify any potential red flags in advance, ensuring a transparent and seamless selling experience.
Marketing Your Home
Creating a compelling and informative listing is crucial in piquing the curiosity of potential buyers. Highlighting the key selling points of your property, such as its location, amenities, and special features, can make your listing stand out in a crowded market. High resolution photography and a diverse marketing strategy will effectively communicate the captivating story of your home.
The Heather Domi Team will craft a custom marketing plan to position your home effectively in the market and attract qualified buyers, leading to a successful sale.
Staging
Staging is an essential element in the home-selling process, enabling potential buyers to imagine themselves living in the space. Through strategic furniture arrangement and decor, staging accentuates the home's best features and enhances its appeal. A well-staged home fosters an inviting atmosphere, facilitating an emotional connection with buyers and leaving a lasting impression. Ultimately, staging has the potential to substantially influence the selling price and the speed of the sale, making it a critical component of the overall marketing strategy for selling a home.
Launching Your Listing
With your price determined and your home strategically positioned for a successful sale, it's time to officially list your home for sale. Your property listing will be prominently featured on Compass.com and distributed across our extensive network of 100+ partner sites throughout the selling process.
The Heather Domi Team will continuously leverage our extensive network of industry contacts and utilize the powerful Compass Network Tool to actively seek out ideal buyers and engage with other top brokers in the industry.
Upon Accepted Offer
Upon acceptance, your attorney will lead in drafting the contract and transmitting it to the buyer’s attorney, initiating a 7-day due diligence period. The Heather Domi Team will assist by sharing the necessary due diligence materials to the buyer’s attorney, including the offering plan, building financials, house rules, and alteration agreement. During this period, the buyer may also schedule an inspection of the property for their peace of mind.
Your Building’s Approval Process
If the buyer is obtaining financing, the bank will conduct a formal appraisal and provide the bank commitment within 30-45 days. Following the receipt of the mortgage commitment, the purchaser will submit their purchase application to your condo/co-op board. For condo owners, the condo board has 20-30 days to provide the “Waiver of First Right of Refusal” (FROR). For co-op owners, the co-op will review the purchase application and, if the purchaser is deemed financially qualified, schedule a board interview. Upon board approval or receipt of the FROR waiver, the transaction will be cleared to close.
Showings And Open Houses
Ensuring your home is prepared for showings is crucial in creating a positive experience for potential buyers. Maintaining cleanliness, tidiness, and a welcoming ambiance throughout the home, while paying attention to details such as lighting, temperature, and pleasant scents, can create an inviting atmosphere that resonates with visitors. We will strategically schedule and plan open houses to maximize access and drive traffic. Through careful planning and effective promotion, we aim to create engaging and informative experiences that leave a lasting impression and generate heightened interest.
Communications And Measuring Success
The Heather Domi Team prioritizes effective communication methods and frequency to keep you informed throughout the process. You can expect frequent updates, ongoing traffic metrics, monthly marketing reports, and valuable market insights to ensure transparency and measure the success of our efforts. Our detailed, custom dashboard allows us to assess the real-time impact of our online marketing campaigns. By capturing this data, we can further revise our strategy as needed, targeting buyers most interested in your home and maximizing the effectiveness of our marketing efforts.
Negotiating Offers
The Heather Domi Team will closely work with you to ensure you navigate the negotiations process with confidence and provide a clear understanding of the key considerations involved. Carefully evaluating offers involves more than just the sale price; it's important to consider the terms, contingencies, and the financial qualification of the potential buyer. Recognizing and comprehending the contingencies outlined in an offer is essential, as it involves navigating financing, inspections, and other conditions. We will collaborate with you to craft effective counter offers throughout the negotiation process, using skill and strategy to strike a balance between protecting your interests and reaching a mutually beneficial agreement with potential buyers.
Attorney Due Diligence & Contract Signing
The buyer will have seven to ten days to complete their due diligence and conduct inspections. Upon completion of due diligence and contract negotiations, the buyer will sign the contract and provide a 10% deposit to be held in the attorney’s escrow account. Once the contract has been fully executed by both parties, the buyer will proceed to complete the purchase application and address any contingencies.
Closing
The managing agent, along with both parties' attorneys, will coordinate a closing date, typically within 2-3 weeks unless otherwise specified in your contract or during the negotiation.
Your attorney will coordinate with you all final paperwork and legal requirements necessary to close.
At the same time, the Heather Domi Team will help you navigate moving out of your home and turning over keys.
Get the Guide
Download the Sellers GuideWeekly Manhattan Market Pulse
Discover exclusive insights with Domi Data—a comprehensive report on Manhattan and its surrounding neighborhoods.
Staging Checklist
Elevate your home's appeal with myour comprehensive Staging Checklist, your guide to maximizing the appeal of your home. From decluttering and cleaning to aesthetic touches like lighting and decor, this room-by-room guide is designed to help attract the highest offers and optimize your home's selling potential.
Get fronted for the cost of home improvement services with no interest — ever.
Compass Concierge is the hassle-free way to sell your home faster and for a higher price with services like staging, flooring, painting, and more.
Concierge Eligibility
Homes up to $3M list price are eligible for our Compass Concierge program, a hassle-free way to sell your home faster and for a higher price. From staging to renovation, our exclusive Concierge program transforms your home with zero upfront costs and no interest. By investing in your home's potential, we aim to provide a swifter, more profitable sale. The program allows for budgets up to 5% of the home's value with a cap of $25,000. By the end of Q4 in 2023, Concierge listings sold at their asking price, whereas the rest of the MLS sold 4% below their asking price.
68% of Concierge listings that listed in Sept. 2023 sold within 3 months of listing, 29 percentage points higher than the MLS.
Key Services Include:
- Floor repair
- Carpet cleaning and replacement
- Deep cleaning
- Fresh paint - interior and exterior
- Strategic staging
- Updated HVAC
- Updated plumbing
- Cosmetic renovations
- Custom closets
- Storage support
- Roofing repair
- Upgraded electric
- Structural fencing
- Decluttering
- Bathroom improvements
- More than 100 other home improvement services
Other Stats to Consider:
- 54% of homebuyers are willing to pay more for hardwood floors
- 53% of sellers’ agents say staging decreases a property’s time on the market
- 2X - Sellers who use Compass Concierge are nearly 2X as likely to sell their home in 60 days.*
Concierge gives you:
- Access to up to $25,000 with a $500 origination fee
- No repayment of loan principal and the origination fee due until closing¹
- No impact on credit upon application/approval
- Same day access to funds upon approval listings²
¹Funds are due back at the first occurrence of the following: closing of the sale of the property, 12 months after loan origination, the client’s expiration or termination of the ELA and failure to re-execute an ELA with Compass within 10 business days thereafter, 120 days after Compass’s cancellation of the ELA, or Notable’s suspension of the loan under the terms of the loan agreement between Notable and the borrower.
²Approval timing may vary depending on certain documentation requirements and other underwriting factors.
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