Home Selling Success

Home , For sale by owner, Multiple listing service, Real estate transaction

HOME SELLING SUCCESS

Save money and time

using proven ‘flat fee’

and ‘by owner’ strategies Table Of Contents

Chapter One: How Professional Tools Power Flat Fee MLS Success

1. Why Home Equity is Hard to Earn and Easy to Lose 2. Pay Yourself $366.47 an Hour to Sell Your Own House 3. How Listing Commissions Erode Your Equity 4. It’s Not “For Sale By Owner” – That’s Why It Works 5. Success Rates That Prove the Case

Chapter Two: Tools that Rule – Secret Weapons and Silver Bullets

1. Three Winning Pricing Strategies 2. How to Find Comparable Sales 3. The Multiple Listing Service: The ‘Secret Weapon’ That Sells Houses Almost Automat- ically

Chapter Three: Stepping Stones to Sold: Selling Stages and Steps

1. Countdown to Sold: The Ultimate Home-Sale Prep Timeline 2. List, Market, and Show 3. Close the Sale

Chapter Four: Tools for a Fast, Profitable Sale – Timelines and Checklists

1. How to Write a Winning Listing 2. Spiff and Polish: Make Your Home Camera-Ready and Show-worthy 3. Can That ‘Buyer’ Afford Your House 4. Special Circumstances Guides 5. Glossary of Real Estate Terms 6. Frequently Asked Questions Chapter One: Why Home Equity Is Hard To Earn And Easy To Lose

Just outside St. Louis, Jesse Goodfellow runs a home renovation and resale company. Over the course of a typical year, he buys, fixes up and resells about 25 houses.

Since 2012, this is how he has made a living: investing sweat equity as he and his partners size up likely properties, correcting problems with plumbing, wiring and structure; upgrading kitchens; and selling move-in-ready houses to families. Good- fellow uses USRealty.com to sell these houses, in order to maximize his profits.

Every dollar that Goodfellow spends directly affects the profit he makes.The chance to keep $4,000 to $6,000 more per property isn’t just a paper gain. It’s enough for Goodfellow to leverage for more home purchases, for greater income for his family, and for savings.

That’s why selling through USRealty.com, the country’s only national home listing service, makes so much sense. It’s very little additional work that delivers a significant cash bonus, says Goodfellow.

The ‘”secret sauce,” he says, is listing the houses on the local multiple listing service. The MLS is the database owned and used by local agents. Each MLS around the country is constantly updated with new property listings. Nationally, popular real estate supersites like Realtor.com, Zillow and Trulia funnel MLS listings. Without the MLS, buyers’ agents don’t know what’s for sale or how to contact those sellers.

USRealty.com is a licensed brokerage with membership in 110 regional MLS systems and a network of agents that covers the rest of the country.

“We get the houses on the MLS and as soon as they’re there, we’re getting con- tracts,” says Goodfellow, who has relied on USRealty.com for two years to sell his properties. “We’ve saved thousands this way.”

Buyers’ agents find his houses on the MLS alongside those listed by full-commission agents. And buyers’ agents get their full, traditional commission when they buy a house listed with USRealty.com, while sellers pay a fee of about $296 (depending on the state) and a little more when closing. That’s far less than the usual three percent of the sale price that local listing agents charge.

That difference delivers enough cash to more than offset the effort of completing the listing and showing the house himself, says Goodfellow. And buyers’ agents are accustomed to helping with the closing process. “They’re getting three percent,” he points out. “There’s something in it for them, too.”

There’s a new way to sell your house. This new sales channel is not ‘for sale by owner.’ It’s not the same old “flat fee MLS.”

It’s new. It’s different. It’s better. This book includes everything you need to know about how to use the same online selling tools and techniques that real estate agents use to get professional results – and in the process, how you can pay yourself the fee that would otherwise drain your equity into the listing agent’s pocket.

WHY HOME EQUITY IS HARD TO EARN AND EASY TO LOSE

Home equity is slow to build… which is why it’s so painful to see three percent of the sale price lost to the listing agent’s commission.

Math explains why that’s actually worse than it sounds: three percent of the sale price is an even bigger percentage of your equity, if you have a mortgage, as most people do. (Keep reading for a step-by-step example of how commissions take a bigger bite than you might realize.)

American families have a lot of financial goals: pay for living expenses, child care, and health care; save for retirement; save for college; and perhaps try to have some fun along the way with an occasional vacation. Homeownership should support those goals, not set you back with high commissions when it’s time to move on to a different house that better fits your needs.

Meanwhile, other trends undermine the rationale for using a full-service realty agent. In the past, home sellers felt they needed a go-between to negotiate the sale with prospective buyers. But now, many people are comfortable renting rooms directly from other homeowners (through Airbnb and Homeaway, for instance); hiring auto owners for rides (through Uber, for instance) and buying goods directly from other individuals (through eBay and Etsy, for instance). Likewise, people buying homes are comfortable negotiating deals directly with sellers.

Most consumers are also adept at managing financial accounts and transactions online, for banking, travel and investments.

All these trends come together in home sales, which is why the old way of selling houses – using an expensive agent whose main value is getting the house listed with online sites so that it can be found by buyers – just isn’t worth it any more.

You can apply everything you already know about online transactions, including buying and selling directly with other people, to selling your house.

Selling through ‘list for free, flat fee” MLS services, like USRealty.com, gives you more control over the sales process and how much that process costs.

Selling through a flat fee MLS service takes a little more time and a little more effort. But if you have a house to sell, you’ve already participated in the home-buying process, so you have a good idea what is involved.

Selling through a flat fee MLS service means you don’t see hard-earned equity wasted on a listing agent’s commission.

And selling with USRealty.com, the country’s only national real estate brokerage, means you get licensed agents who represent you in the closing process, and who coach you as you use the ‘secret weapon’ that all professional agents count on to sell houses. PAY YOURSELF $366.47 AN HOUR TO SELL YOUR OWN HOUSE

Based on the 2016 national median sale price, USRealty.com customers are paying themselves $366.47 an hour to sell their own houses.

That’s based on the $6,230 in commissions that homeowners are paying themselves in- stead of paying a listing agent.

Each day, chances are improving that the USRealty.com model will deliver this kind of savings for home sellers across the country. The National Association of Realtors reports that there are 3.6% fewer houses for sale now than there were a year ago. Nationally, the typical house sells in just 39 days.

Here’s how the math breaks down:

The median sale price of an existing home in April 2016, according to the National Associ- ation of Realtors, was $232,500.

The traditional 6% commission on that sale price comes to $13,950. Half of that—$6,975— goes to the listing broker and agent. That’s where USRealty.com introduces meaningful savings.

USRealty.com estimates that a listing agent spends about 17 hours selling a home, on tasks that do not require the direct input of the homeowner:

• 1 hour analyzing market trends and comparable sales to arrive at an asking price

• 8 hours showing the house to 8 potential buyers

• 3 hours hosting an open house

• 5 hours in local marketing

Of course, homeowners spend countless hours preparing to sell on tasks in collaboration with agents (agreeing on selling price, completing the listing sheet, reviewing the property) and on tasks they can only do on their own (assembling paperwork, cleaning, decluttering, freshening the property, and so on). Those hours are required of homeowners regardless of whether or not the owner lists with an agent or sells DIY through USRealty.com.

Agents also spend money to prepare a home for sale. USRealty.com estimates out-of- pocket expenditures that homeowners would cover directly when handling the sale DIY:

• $300 for a professional photographer (likely to be spent even with an agent)

• $45 for a market analysis

• $100 to print sale flyers and listing sheets

• $300 for a staging consultation

Total out-of-pocket expenses: $745

Assuming that the homeowner would otherwise pay the traditional 3% commission to the buyer’s agent (a fee that includes the listing fee to USRealty.com), and spends $745 on selling support services, today’s seller can save $6,230 by selling through USRealty.com.

That works out to $366.47 an hour. HOW LISTING COMMISSIONS ERODE YOUR EQUITY

In 2016, the median home price was $230,000, which is 10% higher than the year before. That edges past the prior all-time high median value, which we last saw more than a decade ago.

But unless you are selling, that gain is just on paper. And unless you’re listing with a real estate agency that is dedicated to helping you hold on to as much of that equity as possible, the trend doesn’t translate to your personal finances.

Real estate commissions are stuck in the analog era, at about 6% of the selling price of your house. That takes $13,800 out of that $230,000.

But wait: it gets worse! That commission actually takes a much bigger bite of your actual equity.

The typical American mortgage is about $172,000. That means that the typical homeowner has about $58,000 in equity. The 6% commission takes nearly 24% of the actual equity!

That’s a real paper cut. Before you list, work out all your options.

WHY YOU’LL PROBABLY LOSE MONEY DUE TO THE LISTING COMMISSION

As the housing market recovers from the 2007 crash, many homeowners are wondering if (finally) the value of their properties has bounced back.

Many people found themselves ‘underwater’ on their mortgages – in other words, owing more on the mortgage than the house was worth on the market. Equity gradually reappears as home values slowly recover.

But it takes more than getting back above water to move up. Ten years ago, many buyers put 10% or less down when they bought their houses. Thin down payments and minimal equity was, of course, one factor in the real estate crash. Some homeowners owed a lot and had little real ownership in their homes. It just didn’t make financial sense for them to continue to pay the mortgage that was tens of thousands of dollars more than the house was actually worth.

Partly due to regulatory pressure and partly due to common sense, lenders have largely gone back to the longstanding rule that home buyers must put down 20% of the purchase price to qualify for a mortgage. (Here’s how the Bank of America explains it to potential borrowers.) Lenders are strict about this, because they have to comply with government laws and regulations.

That means that your equity is more important than ever. If your home equity is still recov- ering, you could lose everything you’ve regained to the listing agent’s commission of three percent. USRealty.com recommends paying the buyer’s agent the traditional three percent commission – after all, that agent brought you the buyer. In the USRealty.com model, you also pay a flat fee of a few hundred dollars for listing your house on your local MLS.

If selling your current house won’t yield enough cash for a 20% down payment on the house you want to buy next, you’ll have to come up with the rest of the down payment on your own. (Use this Fannie Mae calculator to estimate how much house you can get for a 20% down payment, and vice versa.) HOW TO MAKE UP FOR THE EQUITY LOST TO THE LISTING AGENT’S COMMISSION

If you’re planning to roll your equity into another house purchase, that three percent lost to the listing agent makes all the difference. It’s the difference between moving on and moving up. It’s the difference between getting the house you can afford and the house you really want.

You can’t control mortgage rates or lenders’ policies, or how quickly equity will grow in your current house. But you can control how you accumulate the 20% down payment you’ll need for your next home purchase. Deciding how to sell can be a key element in your strategy to get to 20%. If you give up three percent of the equity to a listing agent, you might have to top off your down payment with money from other sources.

Sources for additional cash include:

• Gifts from family (you’ll have to prove to the lender that the money is a gift, not a loan in disguise)

• Extra earnings (taking on a side job, even temporarily, can quickly top off your down payment)

• Cashing in investments or selling valuable goods

• Selling items you own to raise money

• Compromising on the house you buy next so that you have enough down payment to qualify for a mortgage

IT’S NOT ‘FOR SALE BY OWNER’ – THAT’S WHY IT WORKS

Through USRealty.com, homeowners list their houses with their local multiple listing service (MLS), handle showings and negotiate with buyers. The MLS is a database owned and operated by local real estate brokers. This database is how agents show each other the properties that are listed for sale. National real estate supersites like Realtor.com, Trulia, Zillow and others get their listings from local MLS systems. Listings start with the MLS. That’s why the MLS is so important for selling.

Even though homeowners are doing all the same tasks agents normally would handle, this is not a ‘for sale by owner’ model, according to the National Association of Realtors (NAR). The NAR counts all sales completed through MLS listings as “agent-assisted.” Be- cause USRealty.com clients sell through local MLS systems, and because USRealty.com is a national brokerage, all USRealty.com sales are also considered “agent-assisted.” The USRealty.com online platform guarantees buyers’ agents their rightful commissions. Unlike most flat fee MLS services, USRealty.com lets you have a basic MLS listing for free. You pay the flat fee and the buyer’s agent commission when you close, just as you would with a full service, full fee agent.

USRealty.com blends a strong regulatory framework with streamlined listing technology to provide a new, unique service. USRealty.com funnels thousands of listings to local markets, providing local agents with inventory to sell and supporting the health of local real estate markets. HOW CAN USREALTY.COM OFFER FREE AND LOW FEE ACCESS TO THE MLS?

“If it looks too good to be true, it probably is,” your mom likely told you.

Your mom’s almost always right, but she probably doesn’t know about USRealty.com (yet).

The offer of free access to the multiple listing service (MLS) is both true and good. Here’s how USRealty.com makes it happen.

First, USRealty.com is a bona fide member of 110 MLS systems across the country. We have all the rights and responsibilities of every other member brokerage. You aren’t getting a cut-rate service. It’s the real deal MLS.

Our entry level service enables you to create a listing and get it onto your local MLS for free. It’s a basic listing that allows you to upload one photo. You can pay $99 to post more photos which, of course, will attract more prospective buyers.

When your house sells, you will pay USRealty.com about $296 (the exact amount depends on state regulations). That’s a lot less than the three percent commission usually due to the listing agent, and you’re only paying it when you actually sell. So you pay on the back end… but not much.

It’s up to you.

That’s the point. We let you choose many of the key factors, like how much commission you’ll pay the buyer’s agent (you have to pay something, that’s only fair). You’ll do some of the work an agent would otherwise do for you so you can keep more of your equity. And that’s something we’re pretty sure your mom would like.

SUCCESS RATES THAT PROVE THE CASE

Think of all the things you buy online: travel, financial services, insurance, and so much more. With some solid information and a well-designed process that coaches you through it, it’s not as difficult as some professionals like to claim.

Doing some of the work of selling your house on your own saves you tons of money.

USRealty.com sets you up for success with easy templates and fast, efficient access to the MLS.

But… wait! How can you know that selling through USRealty.com really works?

Here is the proof.

Using our 2015 Houston listings as an example, USRealty.com customers sold houses more successfully than the overall results for the metropolitan MLS.

• 65%: USRealty.com listings that sold

• 57%: Total MLS listings that sold

• 25.5%: USRealty listings that expired without selling

• 28%: Total MLS listings that expired without selling • 9%: USRealty.com listings that were canceled

• 14%: Total MLS listings that were canceled

Our customers in other markets achieved similar results. We blend the best professional tools with your knowledge of your local market and your effort to price and show your house. It’s a winning combination. Chapter Two: Tools That Rule – Secret Weapons and Silver Bullets

The right price is the single most important factor for swift, profitable selling.

Pricing your house to sell is a Goldilocks moment. Ask too much, and your house will be eliminated nearly as soon as buyers see the listing. Ask too little, and you won’t capture a fair return.

One way to think about pricing is to consider time-on-market as money, says Ryan Gehris, broker of record for USRealty.com.

Based on his experience helping thousands of owners sell through USRealty.com, he says overpricing is the number one mistake sellers make. The more overpriced the house, the longer it takes to sell. That sale will only come after the price is brought into alignment with market norms, he says. (Get pricing tips at the USRealty.com sellers’ resource center.)

Of course, as the house sits on the market, its appeal fades. Buyers and buyers’ agents want to see what’s new, and they don’t want to get entangled in painful negotiations that start way too high.

Gehris’ insight is in line with findings by Robert J. Shiller, professor of economics at Yale University. (He’s the Shiller of the Case-Shiller Index which tracks changes in home prices in 20 markets around the country, and is used by investors.) Research he conducted in the mid-2000s found that even in a period of runaway increases in home prices, individual homeowners still thought that their houses were worth more than their local markets indicated.

Shiller found that individual homeowners valued their houses based on the hope that, somehow, their houses would be the exception to the local market trend. If the local market was appreciating, homeowners tended to think that their houses would appreciate faster. If the local market was declining in value, homeowners thought that the value of their houses would still hold steady.

And other researchers have found that when homeowners are determined to not lose money, they price their homes unrealistically – as much as 25% to 35% above the market norm. They don’t get those prices and that realization only comes after the properties don’t sell.

Asking a bit more than the norm for your neighborhood is a lose-lose. Chances are good that you will have to lower your price, and when you do, you’ve lost the advantage of being fresh on the market. If you do hold out for a higher price, you pay the cost of not being able to move forward with your search for your next home, and other missed opportunities.

THREE WINNING PRICING STRATEGIES

When the price is right, the house sells, says Gehris, who oversees thousands of home sales every year. (He gets a helping hand from the USRealty.com customer support team, based in Pennsylvania.)

By the ‘right price,’ he doesn’t mean an asking price that’s too low. He’s talking about the sweet spot – the price that ‘feels right’ to potential buyers and their agents, based on recent and pending sales in your neighborhood.

Find the right price with these three proven strategies (and find more at the USRealty.com sellers’ resource center):

• Invest in research. You can order recent sales data from USRealty.com; scour local home sales data available from public records; and track reports from your local multiple listing service, which feeds listings to large supersites like Zillow, Realtor. com and Trulia.

• What not to do: collect sale prices from your neighbors and add 5% or 10%. Buy- ers and their agents are armed with the latest data. Use the same data sources to support your asking price and your negotiation will be off to a strong start.

• Price in round numbers. “$201,000 is an awful price,” says Gehris. That’s because buyers tend frame their searches in terms of round numbers. At $201,000, the house will be overlooked by buyers searching for houses in the $150,000 to $200,000 range.

• Know that if you must drop the price, it will likely start with a three percent re- duction. That’s what it takes to restart interest in the house and get buyers looking at it again, says Gehris.

Ask yourself these three questions to ensure that your asking price is spot-on:

• What sale prices did the last three most similar MLS sales bring?

• What is the offering price(s) of current listing(s) for sale that is your toughest competition?

• In what price bracket are your buyers searching?

How will you know if your price is too high?

Well, you won’t have any offers. That’s the biggest clue. If potential buyers are working with agents, you might get questions about the rationale for the asking price from agents, but don’t count on it, says Gehris. “They don’t want to pick a fight when there are other properties for sale,” he says. “Most price reductions result from sellers simply seeing little to no interest in their listing.”

HOW TO MAKE THE MOST OF A SELLER’S MARKET

It’s a seller’s market!

That means that you can ask as much as you want, right?

No.

The negotiated price is not necessarily the final sale price.

Once you and the buyer agree on a price, the deal still must survive all the tests the buyer’s lender will apply. If the price changes, you probably lose. That’s why a spot-on asking price is the single most important factor for a successful sale. Here’s how it breaks down.

After you negotiate with the buyer, their lender has to approve the pricing and terms before it will greenlight the buyer’s mortgage.

The lender doesn’t want a borrower to buy an overpriced home, because the house is collateral for the loan. (If the borrower can’t pay back the mortgage, the lender has to sell the house. If the lender can’t get what the borrower paid for it, the lender loses money.) So the lender will dispatch an appraiser to research the market, examine the house, and provide evidence that the agreed-on price is appropriate.

If you’ve asked too much, the appraisal might come in lower than the market norms. You will be forced to take the lower price, because appraisal is the final word on the value of the house. The buyer has to either pay the difference (unlikely) or force the sale price to match the appraised value (likely).

Offer – appraisal mismatches happen more often than you might think. Partly due to the tight market and partly due to their own optimism, homeowners are overestimating the value of their houses, according to ongoing research from Quicken Loans. In May 2016, Quicken’s monthly Home Price Perception Index found appraisals came in 2.17% lower than homeowner expectations. The index is based on mortgage applications and corre- sponding appraisals, so it’s an accurate reflection of the gap between expectation and real- ity.

How can you figure out the right asking price for your house?

• Start with USRealty.com’s pricing guide.

• Get a market report from an online source like CoreLogic.

• Talk with local realty agents. Just be aware that they use a ‘free market analysis’ as a way to win your listing, so they can make three percent on the sale price of your house. Even if you plan to avoid that commission by listing with USRealty.com, you will have to sit through a sales pitch to get the agent’s ‘free market analysis.’

• The best option is to order a full-on appraisal. It will cost you about $300, but it’s indisputable proof of what your house is worth. With an appraisal in hand, your asking price will be reasonable and negotiations should be short. You can find qualified, licensed appraisers through your state’s department of licensing.

HOW TO FIND COMPARABLE SALES

It’s a good idea to track local housing values, even if you’re not thinking of selling right away. You need to keep your property insurance policy updated to reflect the current value of your house and its contents – especially if you have completed renovations. And, it’s important to have a current estimate of home value for tracking your overall financial picture and net worth.

Comparable sales – known in the industry as “comps” – are essential for getting the context you need for setting the right price. You want to price your house right in line with the price fetched for similar houses, recently, in your neighborhood.

Here are three ways to collect market data.

• Local multiple listing reports. Many newspapers print lists of completed sales. That data usually comes from local multiple listing services. Scan the data for sales in your neighborhood and tally it in a spreadsheet that lists the address, sale price and date. The Federal Housing Finance Agency (FHFA) offers a House Price Index and calculator based on data from mortgages purchased by secondary mortgage lenders Fannie Mae and Freddie Mac.

For instance, FHFA data recently reported that house prices rose nationally from May 2015 to May 2016 by 5.6%. The House Price Calculator applies the trend data to your house – but be aware that the resulting estimate doesn’t reflect local conditions.

• And, some lenders offer home value estimators that let you plug in factors such as renovations and details about your property to get a semi-custom estimate of value. A good one is the Home Value Estimator offered by JP Morgan Chase

Remember, though, that these estimates are only guidelines. The only market value accepted by a lender is a formal appraisal conducted in person by a licensed appraiser. If you are thinking of selling your house, it’s worthwhile to get an appraisal to set a super-reliable price and to back you up when it is time to negotiate with a buyer.

OVERPRICE AND WAIT

What’s it worth to you to sell quickly?

Zillow has figured it out. If you price your house right at the ‘sweet spot’ (on trend with neighborhood averages but not overreaching), your house is likely to sell quickly and for just 1 percent below the asking price.

But if you price the house on the high end and figure you can cut the price later, you can count on doing just that. Zillow’s analysis found that higher priced houses lingered on the market for over two months – an eternity in today’s seller’s market. Those sales suffered price reductions of 5 percent or more.

It’s not just that time is money. It’s that money is money. Stretching for a higher price doesn’t work when buyers can immediately see the selling prices of comparable nearby houses.

And even if the buyer does throw common sense to the wind and give you a top-end price, it’s possible that her lenders won’t agree. If the appraisal comes in a little lower, you’ll have to renegotiate the price, or the buyer will have to throw in more cash. Neither are good options. It’s smarter to aim for the sweet spot to begin with.

HOW NOT TO PRICE YOUR HOUSE

It’s tempting to rely on informal research about houses currently on the market and neighbors’ opinions about how much your house should fetch. But opinions aren’t worth much when you are in serious negotiations with a buyer. To increase your chances of negotiating a sale price that will hold up to the appraisal ordered by the buyer’s lender, don’t:

• Rely just on “comparative market analysis” reports provided by local agents. Such reports are marketing tools that agents use to win your listing, and have no independent value.

• Calculate the asking price based on what you paid for the house plus the cost of renovations and maintenance. Today’s market value has nothing to do with what you paid or what you spent. • Calculate the asking price based on what you owe. Today’s market value has nothing to do with the outstanding amount you must pay back to lenders, including the original mortgage, home equity loans, and any other loans or liens against the property.

• Calculate the asking price based on what you want. Today’s market value has nothing to do with how much money you need to buy your next house.

• Include sentimental value as part of the value. The buyer wants to create her own memories in her new house. She won’t pay extra because you have happy memories of holidays and family events in the house.

THE MULTIPLE LISTING SERVICE: THE ‘SECRET WEAPON’ THAT SELLS HOUSES ALMOST AU- TOMATICALLY

List your house where buyers look – first and often.

That’s with your local multiple listing service (MLS).

The National Association of Realtors reports that 90 % of home buyers look online for the latest listings. Local MLS systems send listings to Zillow, Realtor.com, Trulia, and other listing supersites. When you get your house in the local MLS, you reach buyers across the street and across the country. Only licensed agents can list houses in their local MLS system. You, as an individual homeowner, can’t directly use the MLS, but you can get your listing in the MLS with USRealty.com.

Here are some tips about how buyers use the MLS:

• Local search terms are the most important ways buyers look for properties. For instance, if your neighborhood has a nickname – ie., Washington Heights, include that in the listing.

• Buyers conduct an average of 11 online searches before shifting from looking to actively buying.

• The most common search phrase combines the local city or market (i.e., Chicago) with “houses for sale.”

• Over half of buyers’ actions are a direct result of what they find through their online searches.

• With buyers finding houses themselves, the key to selling is ensuring that your listing appears everywhere online that buyers look. What was once the added advantage of getting online through a local agent is now shrinking.

• Buyers expect to find neighborhood, mortgage and lifestyle information from MLS listings. Start collecting this information early so you can write a descriptive and accurate listing that you can back up in detail with a handout on the house that you give to potential buyers. Chapter Three: Stepping Stones to Sold – Selling Stages and Steps

You can do it! Here’s how to get started and set yourself up for a fast, profitable sale.

COUNTDOWN TO SOLD: THE ULTIMATE HOME-SALE PREP TIMELINE

Prepare & Price

Two to three months before listing:

• Conduct market research to establish the best price. Use USRealty.com tools to set the price most likely to draw in buyers.

• Assemble the legal documents you need to complete the sale and replace any missing documents.

• Conduct a search of public websites to detect any outstanding lien or other legal complication to completing the sale so you can clear it up before it becomes a real problem.

• Walk through the house to identify necessary touch-ups and repairs. (See our checklist below for spiffing up your house.) Make a to-do list and tackle those projects.

• Line up any professionals you will need for closing, such as a real estate lawyer.

One month before listing:

• Develop your marketing strategy.

• Gather the data you need to complete your USRealty.com listing.

• Decide whether you want to pay up front for the extra photos or go with the entry-level flat fee MLS listing that allows one featured photo. You can always upgrade later, but it’s smart to put your best plan into motion from the start.

• Take photos of the house exterior and entrance from several angles. Clean and spruce up the entry and front façade to cultivate curb appeal. This might include repairing and painting porch railings and screen doors and metalwork; painting the front door and façade trim; and landscaping. Consider adding seasonal flowers and plantings. Be sure the house number is clean, visible and well-lit.

• Walk through the house in the morning, afternoon and evening with the lights on to see how it shows at different times of day. Depending on natural light, some rooms might show better at different times of day, both in photos and for in- person showings. Take photos of each room from the entry points to that room and analyze the presentation of the room. Declutter, clean and stage accordingly. Take another round of photos with optimal lighting for each room. Are these photos suitable for your USRealty.com listing? If not, consider hiring a professional home photographer.

• Write home descriptions for social media promotion and to supplement your US- Realty.com listing sheet.

• Prepare and print flyers for open houses and to distribute at neighborhood gath- ering spots, at work, to local businesses and to social groups.

• Buy advertising where prospective buyers will look. Through USRealty.com, your home is listed automatically with your local multiple listing service (MLS); with Re- altor.com, Zillow, Trulia and other major listing sites. Local buyers might also look at local publications (in print or online); Facebook community and buy/sell/trade groups; and other unique platforms where prospective buyers learn about houses for sale. If so, consider placing ads that reach potential buyers through those outlets.

• Set a date for an open house and plan to promote that event in your ads as well as in your USRealty.com listing.

LIST, MARKET, AND SHOW

• Decide on the asking price.

• Double-check your listing information for accuracy and spelling.

• Decide on the amount of commission you will pay to the buyer’s agent so you can market the house to local realty agents accordingly. Every MLS requires sellers to pay a buyer’s commission. Your decision is how much. The traditional buy-side commission is 3% of the sale price. That’s what USRealty.com recommends that you offer. You can start with 1.5% of the sale price if you want, but buyers’ agents will see that be less motivated to introduce your house to their sellers.

• Complete and upload your free USRealty.com listing.

• Download the printable version and make print copies.

• Keep on hand a stock of printed listing sheets and supplemental information about the house.

• Stay informed about local market trends so you can provide context to potential buyers.

• Collaborate with agents and buyers who want to see the house.

• Don’t hesitate to ask the buyers’ agents to show the house. You’re paying the agent a commission (USRealty.com recommends the traditional 3%) – so make them earn it!

• Consider hiring a friend to walk prospective buyers through the house to provide a more dispassionate guide.

• As serious offers emerge, qualify buyers’ ability to purchase your house so you don’t waste time with those who cannot afford it.

• Negotiate with qualified buyers who make offers. Be sure that you can back up your negotiations with market data that supports the value of your house in the current market. CLOSE THE SALE

• Review the contract with your real estate attorney.

• Assemble the documents you need for closing.

• With an accepted offer, collaborate with the buyer, and, potentially, the buyer’s agent, on the home inspection; title search; survey; and other legal processes.

• Arrange a closing date; allow four to eight weeks between accepting the buyer’s offer and closing.

• Pack and arrange for movers and a cleaning service.

• Make arrangements for your move-out day, including the final walk-through before closing.

• Close the sale! Chapter Four: Tools For a Fast, Proﬁtable Sale: Timelines and Checklists

HOW TO WRITE A WINNING LISTING

The listing is your first and best chance to make a good impression for your house. Your goal in writing a successful USRealty.com listing (or any listing, for that matter) is to in- trigue a potential buyer so they want to see your house.

• Price is the first filter. Most buyers have figured out how much they can realisti- cally afford and most search by price.

• Location is a close second. Buyers want a house where they can live the life they want. Location is also a price factor: houses located farther away from highways, public transportation, and daily shopping must be priced to factor in the inconve- nience and cost of getting to and from that out-of-the-way location.

• Size is the final key factor. How much house will the buyer get for her money? Size is expressed in terms of the number of rooms; total square footage of the house; and the size of the property that the house occupies. The number of bedrooms and bathrooms are often used as quick reference points for overall house size. Check current listings to see how sellers in your market position square footages; for instance, in some areas, finished basements and attics count in the square footage, but in other areas, they don’t.

Your listing needs to open with a bright, engaging description that is also accurate. Buy- ers have many tools to size up your property from their phones or tablets. They can look at it using Google Earth, neighborhood photos, and can access public records. Buyers will quickly see if you describe your neighborhood as ‘quiet’ when the house is adjacent to a highway or rail line.

The sweet spot is to describe the house accurately, clearly and with enthusiasm. What ini- tially attracted you to this house? What do people comment on when they first visit? What do neighbors like about your house?

Focus on amenities and lifestyle that relate to photos you will include in the listing. If you describe the house as “bright” and “contemporary,” be sure to post photos of the interior on sunny days, with gleaming floors and streak-free windows, with a glimpse of a pretty view outside.

Summarize recent improvements. Review listings for current houses for sale in your area to see which terms are used to describe houses like yours. Often, brand names are used to signify quality (e.g., Kohler, Amana, Jenn-Air and so on) or certain types of wood (e.g., “cherry cabinets,” “maple floors”) finishes (i.e., “white kitchen renovated two years ago”) or architectural style (e.g., Craftsman, Victorian, mid-century, Colonial) are keywords for buyers.

Make it easy for buyers to contact you to arrange to see the house. USRealty.com listings provide contact information, so you must monitor your USRealty.com email updates con- tinually, and make contingency plans to ensure that your house is clean, fresh, and available for showing at a moment’s notice.

When a buyer comes to tour your house, have plenty of detailed information ready.

• A freshly printed copy of your USRealty.com listing

• Supplemental information (use our handy list of supplemental listing information to assemble buyer-pleasing details)

• A contract

• Your contact information

LISTING THE EXTRAS: SELL SHEETS THAT PERSUADE

Provide extra information so buyers can envision the benefits of buying your house. The sell sheet, or handout, on your house will supplement your flat fee MLS listing and giver serious buyers the information they need to make a genuine offer. Here is what to include.

Cost of Ownership

Buyers need to know whether your house fits their budgets. Most people budget monthly, so providing a breakdown of the monthly and annual cost of owning your house provides invaluable guidance. Use this “Cost of Ownership” sheet as a supplement to the listing sheet and provide it at the beginning of negotiations.

Use the actual cost of utilities and break your current property tax bill into monthly incre- ments. (Note this on the sheet, including the annual property tax as well.)

The sheet should include:

• Mortgage payments (use your asking price, minus a 10% down payment)

• Homeowners’ insurance

• Condo/HOA fees

• Electricity

• Gas/heating

• Cable/internet

• Water

• Property taxes

• Any additional costs unique to your house

Amenities and Lifestyle

Illustrate the perks your house offers potential buyers with these ideas for supplemental listing sheets:

• Flexible or multipurpose rooms: Show additional uses for extra or flexible rooms, such as a guest room, hobby room, office, playroom, or other uses depending on the location of the room. • Storage space: Showcase the laundry room, mud room, pantry, garage organization, master closet organization, and any additional finished or semi-finished, dry storage space.

• Holiday decorating: If your neighborhood has strong traditions for holiday decorating, provide a few photos that illustrate how the house looks decked out for winter holidays, Halloween, and other festive occasions.

• Outdoor living: Especially if you are selling in winter, provide photos that illustrate how the yard, deck, patio and other outside areas extend the livable space.

Energy- and Cost-saving Features

Heating, cooling, electric, and water costs are important affordability factors. If you’ve re- placed or upgraded aspects of these systems, list these investments for buyers.

Show buyers how your green features could save them some green:

• Compare your monthly utility bills to the average utility bills in your area, illus- trating how your upgraded systems will save buyers money on their monthly bills.

• Point out passive heating features. South and western exposures capture plenty of sun, especially when other features, such as tile floors and insulated window cover- ings, keep that heat in.

• List any energy efficient kitchen appliances and organize the documentation on your original purchase dates and any applicable warranty information, in case a prospective buyer wants it.

• List additional energy efficient upgrades, such as new insulation, insulated or new pipes, and a high-efficiency water heater and furnace.

Location, Transportation and Convenience

Easy access to work, schools, shopping and entertainment is essential for many buyers. They want to envision their daily commutes, errands and schedules lived out in your house. The first step in making them fall in love with your house is getting them to imagine living there.

Create a supplemental listing sheet that situates your house on a map and shows access to public transit, highway access, main local routes, schools, and key amenities like grocery stores, neighborhood shopping and parks.

Include the WalkScore (a free ranking of walking convenience for daily activities) and a printout of WalkScore amenities. Each one point increase in a WalkScore delivered $500 to $3,000 more in home value than comparable houses with lower WalkScores, according to that company’s research. Even houses with mixed WalkScores – close to some daily amenities but within a short drive of others – earn higher values in the WalkScore metric.

SPIFF AND POLISH: MAKE YOUR HOME CAMERA-READY AND SHOW-WORTHY

As you work your way through your marketing and pricing research and decisions, you also need to be preparing the house for sale.

Potential buyers will see your house two ways: online and in person. That means that you must first prepare the house for photos that you’ll use in your USRealty.com listing; other ads, both online and in print; and in printed flyers. Once that’s done, prepare the house for showing potential buyers in person.

Two or three months before listing, declutter, clean and touch up to make the house look its best.

Declutter:

• Remove outdated, out-of-season, unused and tattered furnishings and decora- tions.

• Rent an off-site storage unit, if you must, for items you don’t use daily. Resist the temptation to pile boxes in the garage or basement. Buyers need to tour those areas, too.

• Clean woodwork, windows and floors. In the process, document any touch-ups and repairs.

• Either enlist a handyman, or do the repairs and touch-ups yourself. If you dis- cover significant problems that require a contractor, arrange the work immediately so that you can present the house in move-in condition. Be sure that the work com- plies with all local building codes and that the contractor gets a permit and com- pletes all required paperwork so you can show buyers that the work is up to standard.

• Review the property for safety: check stair and porch railings; posts and fences; broken steps; tripping hazards; and electric work. Repair all safety hazards, especially those that might violate local building codes.

• Deep-clean bathrooms, the kitchen, and closets. It is easier to keep these high traffic areas clean daily when every surface requires just a quick wipe to look its best.

• Paint if necessary, focusing on the entry way, main living areas, and master bedroom.

FOLLOW THE LIGHT FOR STAGING AND PHOTOS

Walk through the house in the morning, afternoon and evening with the lights on to see how it shows at different times of day. Depending on natural light, some rooms might show better at different times of day, both in photos and for in-person showings.

Take photos of each room from the entry points to that room and analyze the presentation of the room. Declutter, clean and stage accordingly. Take another round of photos with optimal lighting for each room. Are these photos suitable for your USRealty.com listing? If not, consider, hiring a professional home photographer.

• Take photos of each room from the doorway. What attracts your eye to the room’s best features? What distracts? Arrange furnishings, accessories and window cover- ings accordingly

• Use what you have on hand, or borrow accessories from friends. The staged photos do not have to exactly replicate the house that buyers see: an artfully draped quilt can spark color in a photo, but the quilt doesn’t have to be in the room when buyers see it. • Consider removing outdated window treatments.

• Remove or clean stained furniture and rugs. If much-loved furniture is beautiful only to your family, consider renting a few key pieces while the house is on the market.

• Stage truthfully. Do not use photo manipulation tools to erase features or to insert features.

• Take photos of staged rooms at several different times of day, with different lighting conditions so that each room looks its best in listing photos.

THE ENTRYWAY: THE FIRST AND MOST LASTING IMPRESSION

In real life, your home must create a strong first impression, starting with the entry and carrying through the buyer’s first few steps inside.

• Triple-check safety and ease of entry. Remove throw rugs, clutter, and other items that make it difficult to find and enter the house.

• Clean glass and metal surfaces early and often, especially in the high-traffic, high- touch entry areas, and in bathrooms.

• Turn lights on, even during the day.

• Identify and remove sources of odors, including strong cooking odors, pets, hob- bies and children. Expect to open windows for a burst of fresh air right before showings – yes, even in winter.

REFRESH CURB APPEAL

Clean and spruce up the entry and front façade to cultivate curb appeal. This might include repairing and painting porch railings and screen doors and metalwork; painting the front door and façade trim; and landscaping.

• Consider adding seasonal flowers and plantings.

• Be sure the house number is clean, visible and well-lit.

• Take photos of the house exterior and entrance from several angles.

• Keep safety and seasonal gear (shovels, salt and the like) nearby but out of sight so you can clear snow, leaves or other seasonal barriers from the entry.

SOLSTICE SHOWINGS: 5 WAYS TO LIGHTEN UP SUMMER STAGING

Summertime brings the longest days here in the northern hemisphere, and that means that you have maximum daylight for showing your house. Here are five tips for making the most of summer rays.

• Control bugs. Mosquitoes love the summer evenings. Banish them with environ- mentally-friendly sprays, candles and trapping techniques so potential buyers aren’t distracted by swatting. Eradicate potential mosquito breeding areas to minimize the pests.

• Water plants in late afternoon so they achieve maximum perkiness while decks and sidewalks dry before evening buyers arrive.

• Keep outdoor cooking areas clean. Be ready with no-cook meals so your kitchen, deck, patio and grill are in pristine condition after dinner.

• Turn on outdoor lights so that it’s easy for buyers to find your house. Late sun- light casts shadows, so don’t assume that your house number is visible just because it’s still light outside.

Try to time showings to maximize sunset views. It’s easy to check the exact time that the sun will set in your area (weather service websites report this data), and a spectacular view

SHOWING: A FOOT IN THE DOOR

If potential buyers are working with realty agents, you will be paying those agents as much as 3% of the sale price. It’s customary for the buyer’s agent to show the house to the prospective buyer, so don’t hesitate to greet the buyer and her agent at the door, let them in, and then leave. You only have to show the house yourself if the buyer is not represented by an agent. Even with a flat fee MLS listing, the buyer’s agent still has responsibilities.

Ask the buyer’s agent to:

• Show the house

• Arrange for inspection

• Provide proof that the buyer is qualified (for more on this important topic, see the section below)

• Be familiar with the local legal structure for closing Know legalities

• Offer a reasonable offer that will be supported by the appraisal that will be required by the bank if the buyer needs a mortgage

One caveat: when the buyer’s agent hands you an offer, read the fine print carefully. Agents have been known to insert the standard 6% commission into the fine print, thinking that you won’t find the change. You signed up with a flat fee MLS agency, and the buyer’s agent must respect that decision even if she prefers the traditional, pricey commission structure. But flat fee MLS listing services still channel buyers’ agents their commissions. It appears in the flat fee listing contract just as it is in any other listing contract.

OPEN UP ABOUT CLOSING COSTS

The last thing a homebuyer wants is to get pinched by hidden closing costs. As you market your home, be aware that buyers – especially first-time buyers – will be counting every penny. Local fees and taxes vary and many municipalities have increased fees in the past few years. Be sure you know what your buyers face so they don’t encounter a deal-derailing cash shortage at closing. Resources for learning more about local rates include:

• Bankrate’s closing cost estimator, which outlines costs by state

• Consumer and Market Trends in Real Estate - A Joint Study from The National Association of Realtors® and Google

• A list of closing cost fees, provided by MoneyGeek

Be aware that out-of-town buyers might not be familiar with closing fees and costs in your area. For example, in North Carolina, fees can vary by county by as much as $300. Over- all, North Carolina closing costs average about $1,911, compared to the national average of $1,847. And, North Carolina law requires a title attorney to be at the closing, an expense not required by many other states.

DON’T LET TAX CONFUSION COST YOU THE SALE

Property tax documentation can throw an unexpected monkey wrench into your home sale if you’re not prepared. Different municipalities calculate and bill property taxes on different schedules. There’s no one way to include taxes in a lender’s overall estimate of how much a potential home buyer can afford, so it’s up to sellers, like you, to make it easy on the buyer and the buyer’s lender.

First, collect the most recent copies of your property tax statement. Note the date so you can stay on top of changes and get the current tax rate if your house is still on the market when the new tax year starts.

Be sure that the tax information is correct. Confirm the tax ID number and address and review your house’s description in the local property tax listing for accuracy. If your house has been overlooked by the county or municipal assessor, your buyer could be hit with a big bill when the correction rolls in. It might sound like you are dodging a bullet, but if the re- assessment results in a large increase in property taxes, it might be too much for the buyer to afford, according to his lender’s application of debt-to-income guidelines.

Include the property tax information on your USRealty.com listing sheet. Have a copy of your most recent tax bill, and proof that it was paid, in your set of detailed homeowner papers for the buyer to use when applying for a mortgage.

Streamlining your property tax records is easy to do each time you pay the taxes. It’s a good idea to triple-check the validity of the tax bill details every time so that you can head off any problems that could cause difficulties for you by complicating the sale of your house.

CAN THAT ‘BUYER’ AFFORD YOUR HOUSE?

They come.

They look.

They love.

They can’t afford your house.

When you’re selling your house, you don’t have time to waste with people who can’t afford to make a serious offer on your house. They might not have a sufficient down payment. They might have a seriously bad credit score. They might want to make an offer that depends on their ability to sell their current house, while tying up yours in the meantime.

Figuring out if a buyer can actually afford your house is called ‘qualifying’ the buyer. Just because someone is ready and willing to buy your house doesn’t mean they are able. Here’s how to separate lookie-loos (that’s the real estate equivalent of tire-kickers) from serious prospects.

First, find out how far the potential buyer has gotten in the mortgage approval process. The more the buyer has invested in that process, the more serious that buyer is about buying a house. Ask the buyer what stage he or she has reached: pre-qualification, pre-approval, or commitment letter.

Pre-Qualification: Generally this means the buyer and lender have only discussed the details of a potential mortgage over the phone. The lender gives the buyer a general idea of what he or she can probably afford, but the buyer has not filled out a loan application. And, the buyer has not undergone a credit check. Little or nothing is in writing. It’s all in the exploratory stage.

Pre-Approval: At this point, the buyer has filled out paperwork, provided proof of the down payment and income, and OK’d the lender to do a credit check. The lender typically tells the buyer how much mortgage he or she can afford. The mortgage plus the down payment adds to up to the total purchase price, or, how much house the buyer can afford. You don’t need to see all the details, but if the buyer claims to be pre-approved, ask to see the top-line paperwork that proves that he or she can afford your house.

Commitment Letter: This letter confirms that the buyer has proven to the lender that he or she can take on a mortgage of a certain amount, assuming that no other financial factors change. Now, the buyer has to find the right house and negotiate a price that will also survive the scrutiny of a real estate appraiser (all lenders require independent appraisals of houses to ensure that the purchase price is in line with the local market).

BUYER’S FINANCIAL INFORMATION FORM

Chances are that your buyer is working with a local real estate agent. Agents are familiar with buyer’s information forms, and a good agent will have collected the data from her cli- ent in advance.

Use the buyer’s information form below to request qualifying financial data from the potential buyer. The buyer should complete the form and return it to you with a copy of pre-qualification (if there is proof), pre-approval, or the commitment letter.

It costs time and money all around when a deal falls through because of a misunderstand- ing about a buyer’s actual resources. Collecting proof of ability to pay saves everyone time and, potentially, disappointment.

BUYER QUALIFICATION INFORMATION

[click here to download print-friendly PDF]

Buyer Name:

Address:

Phone:

Email:

Buyer One: Occupation and job status:

Current employer:

Address:

Occupation:

Years at this job:

Annual base salary:

Annual variable compensation: (overtime, commissions, bonuses, etc.)

Annual total earnings:

Buyer Two: Occupation and job status:

Current employer:

Address:

Occupation:

Years at this job:

Annual base salary:

Annual variable compensation: (overtime, commissions, bonuses, etc.)

Annual total earnings:

Will you be securing a mortgage to purchase the house? Yes/No

If so, please attach a copy of your (choose one)

Mortgage prequalification documentation

Mortgage preapproval documentation

Mortgage letter of commitment If you have completed a credit check in the past six months, what was your credit score?

If you have ever filed for bankruptcy, please list the year(s).

Assets:

Please list assets to be used a down payment for a mortgage:

Real estate currently owned:

Will you be selling a currently owned home to purchase this house: Yes/No

If you will be selling a current home to purchase this house, please indicate the status of that sale:

Listed

Under contract

Sold

CLOSE THE DEAL!

When a buyer’s interest in your house rises, negotiation begins. Here’s how to navigate from the first call to the closing.

Before you start to negotiate, know your terms.

• What is the minimum you will accept for the house?

• Can you negotiate time as well as money? If you can be flexible on a move-out or closing date, can you accept more or less money?

• Can you negotiate on extras, such as a backyard grill, furniture, or other amenities that might be worth more to the buyer than to you?

• Do you have a real estate lawyer lined up to review the contract? Do you have the correct contract for your state? Are you familiar with local negotiating and closing customs?

• Can you back up your asking price with credible, independent market data?

Next, be sure your prospective buyers can actually afford your house. There’s no point in negotiating with someone who lacks the necessary income, down payment, credit rating or other qualifications. (See details above about how to qualify a buyer.)

Negotiations are a back-and-forth process, with each side giving a bit until the two sides reach agreement. Chances are that your buyer is represented by a buyer’s agent. If you have chosen (as USRealty.com recommends) to pay the traditional 3% buyer’s agent commission, you can expect a professional experience.

Once you have agreed on a price, draw up the contract and take earnest money from the buyer. This earnest money goes into an escrow account, typically set up by the buyer’s agent and the title company, to ensure that the buyer has a commitment to buying the house. It’s up to the buyer to set up the inspection, appraisal and all the other steps required to close the deal. The buyer and his agent will have a list of requirements from the buyer’s lender.

Expect to cooperate with:

• A home inspector

• An appraiser

• A surveyor

• The title company, which may want legal documents

• The buyer’s agent and lawyer

Meanwhile, you must prepare to not own or live in the house any more. Expect to:

• Work with your mortgage lender and the title company to pay off your mortgage and any other loans for which the house is collateral

• Move

• Contact utility companies to switch accounts to the new owners

• Close your insurance policy on that house and open one on your new dwelling

• Arrange for the final walk-through the day before or morning of closing

• File a change-of-address with the postal service and notify your contacts

SPECIAL SELLING CIRCUMSTANCES

Selling with Small Children

Selling a house with USRealty.com as your broker is easier than selling with a traditional listing agent because you have control over the showing schedule. That makes it easier to arrange showings around your family’s schedule. Here are tips from experienced parents on how to survive a home sale with small children in the family.

• Designate a go-to destination where you can take the kids while the buyer and her agent see the house.

• Keep baskets in each room for fast, easy cleanup of toys and baby gear.

• Corral all diaper-related supplies into a single room. Take out diaper-related trash twice a day.

• Consider painting door woodwork with scrubbable paint so it’s easy to wipe off fingerprints.

• Don’t overlook fingerprints and grime at knee level.

• Consider declaring the master bedroom, master bath and living room as kid-free zones that are always ready to show. That way, buyers will see the potential in the house even if there are a few errant toys in the kids’ bedrooms or in the family room or kitchen.

Selling a Vacation or Second Home

Managing properties in two locations is made easier when you make the most of the latest tech tools. Use these tools to collaborate with showing agents.

Keeping track of paperwork is a pain just for one house. With two, consider digitizing key papers and storing them online through a cloud service, that lets you create folders. With all the documents online, you can quickly create a listing if you decide to sell.

Files to consider storing in the cloud may include:

• Photos suitable for creating house listings

• Maintenance records and receipts

• Titles

• Insurance policies

• Contacts for homeowners’ associations, if applicable

If the home you’re selling is vacant, keep track of who’s at the front door remotely with a home security system that you control through your smartphone Ring, which links a digital doorbell to your smartphone. . Install the camera and you can see who’s on the doorstep and communicate with them from wherever you are.

Remote security monitoring services should include motion-detecting sensors that record movement around your house. Consider systems that also keep a virtual eye on the temper- ature and water systems in the house.

The best way to survive home improvement projects is to not be there. But, that also means coordinating virtually with decorators, painters and contractors you might have to hire for last-minute touch-ups. Use Pinterest boards to share ideas, links, sources, and to see photos of work in progress uploaded by contractors. It’s easier to create a board for the team to share than it is to send endless, confusing rounds of photos and lists via email.

Three Tips for Selling Your Vacation House

The upside of selling a vacation house is that you can probably take your time.

The downside is that you’re going to have to.

Vacation home sales tend to be more erratic than the pace of sales for primary homes, according to this report by the National Association of Realtors.

That’s because buying a second house is optional, and because a high proportion of buyers – 38% in 2015 – pay cash. Here’s how to plot a process to move things along.

• Take advantage of the vacation home support economy. Most vacation desti- nations have homegrown property maintenance and monitoring ecosystems. That means you can request a la carte services for showing and cleaning your house, invaluable when you list with USRealty.com and manage your home sale yourself.

• Make the most of the seasonal patterns. Vacation homes tend to sell in early spring – so new owners can enjoy summer in their new houses – and in fall, after sellers have enjoyed their last summers at their houses. Time your sale to be first on the market in late February or right after Labor Day. • Prepare early by taking photos year-round of the house in all seasons, local activities, landscapes, and amenities. You’re selling not just the house, and not just the location, but also the lifestyle. Help buyers see the vision that inspired you to buy the house in the first place.

How to Rent your Vacation Home While It’s for Sale

It’s time to let go: you’re just not at your vacation place enough to hold on to it, especially considering the tax implications of maintaining it as a rental.

It’s time to sell. Here’s how to sync the selling process with short-term rentals so you can extract a bit more income while the place is on the market. Even a bit of income from an unoccupied home can help offset the property taxes and other costs of ownership. (Use this guide to estimate the income you might be able to pull in from short-term rentals.)

First, look at your timeline. If you want to sell quickly, it might be more bother than it’s worth to get set up with Airbnb, Homeaway, FlipKey or another short-term rental site.

Second, consider the cost of preparing the house to simultaneously show and sell. Staging a place to sell usually involves decluttering, removing most personal objects, and arranging furniture so that it showcases the features of each room. The first two steps streamline your place for paying guests, so the effort you put into decluttering and depersonalizing works toward both goals.

Staging is different, though. You’ll need to stage each room to highlight its features and take listing photos accordingly. (Use the USRealty.com guide to Getting Your Home Ready for effective staging.)

Create two portfolios of photos: one for the photos for the property listing and the other for the rental listing. Do the staging first and take a lot of photos under different lighting conditions. Then, rearrange the furniture to make the rooms welcoming to guests. For example, for staging, you might want to showcase the view from the living room, which involves situating an armchair and lamp to one side, with drapes pulled back. But for renting, you might want to draw the chair into a conversational cluster with the sofa, even if that blocks the window a bit.

Use the rental listing as a way to promote the selling listing, but think twice before using the selling listing as a way to promote the rental listing.

Set up the MLS listing first. Next, create the rental listing and include a link to the sale listing in the rental description, if the home rental site you’re using allows it. That way, people who are checking out the neighborhood by renting will find your house either way. But, you don’t want house hunters to get the impression that your place is undergoing rental wear and tear while it is on the market.

Factor in the cost of fees and cleaning. When your house is for sale and you aren’t living there, it stays clean between showings. But you’ll need to closely manage the showings and cleanings after each renter departs in order to make sure that the place is show-worthy before a prospective buyer arrives.

Showing considerations will dictate your rental conditions. You might want to ban pets, smoking and larger groups to minimize disruption and dirt.

Offer very short-term rentals so the place is always available on short notice for showings. By renting only for two or three nights at a time, you can respond more quickly to buyers’ requests to see the place. This will limit the income you likely can recoup and might also increase cleaning expenses and fees, but is essential if you want to sell sooner rather than later. Additional tips:

• If you have a homeowners’ association, be sure to check the rules to ensure that you are selling and renting in compliance with community guidelines.

• Coordinate closely with the homeowners’ association manager so that the traffic to your unit doesn’t disrupt neighbors.

• Prominently place fresh listing sheets along with the instruction guide for renters. Include your contact information.

• Add a condition to the rental agreement that the place must be available on short notice for showings.

• Make sure buyers have a place to park, especially if you are both renting and selling a condo unit with assigned parking.

SELLING A CONDO

Selling your condo? Make the board help.

Condo boards can help or hinder when you are selling your unit. Here’s how to get the board on your side to make your sale go smoothly.

• Review the fees and processes. Sure, you’re reading all the minutes and memos the board sends every month. But you might not have noticed changes in fees and rules for selling. Go back and scan through the notices to make sure you know the latest guidelines. For instance, some condo associations in Florida started applying illegally high fees for processing paperwork. If fees have gone up, check with your state’s condominium act to see what’s legal and what’s not.

• Get a timeline of what the board needs from you. Boards often work with professional management firms, and they have their own to-do lists when units sell. Find out what paperwork you will need from the board; what paperwork the board needs from you; and how much lead time the board needs to get its part done. Merge these milestones with your selling process.

• Get the board’s certifications of financial status. The buyer’s lender will need this to make sure that the condo association is financially stable.

• Find out about special assessments and have relevant paperwork ready to show buyers. Buyers will ask about condo fees – current and proposed. Have ready a list of recent improvements and proposed improvements, so buyers can see what they’re probably getting into.

• Work with management and neighbors to make sure you move out and your buyer movesin according to the rules. Some associations have strict rules for when, how, and where you can park moving trucks, move, and dispose of move-related trash. Get all these specifics in advance so you won’t get fined on your way out.

SELLING YOUR LAST HOUSE

It can be heart-wrenching to sell the last house you will own. Rely on family and friends to help you research all the new ways of selling that have emerged since you last navigated the real estate market, including flat fee MLS listing services.

Before you list, review some basic legalities: Make sure you are legally in the clear to sell the house. That’s especially important if you and other family members have inherited the house.

Then, turn to the practicalities, such as whether or not to list first or hold an estate sale first.

A lifetime accumulation of furniture and belongings is infused with memories for the owner and can be a major complication to selling. Whether you are clearing out a house you have inherited or are pruning back for retirement, here’s how to sort your stuff with an eye to selling.

First, think about the market appeal of the house itself. If the house has a unique style – midcentury modern or Victorian, for instance – that style will be a selling point. Listing photos need to reinforce the unique design elements of the house and buyers will want to see how the heritage of the house comes through in real life.

That means that you’ll want to use furniture and accessories to reinforce the unique appeal of the house in listing photos. So, even if the carved wood Victorian sofa is the first thing you want to sell, consider holding on to it to stage the Victorian living room, at least for the listing photos.

It might be worthwhile to work with a professional stager who can help you choose items best suited to highlight the features of the house without making it look like a mu- seum. If there’s a lot of stuff, consider calling a professional estate sale company to see if the extra help in sorting and selling is worth their fee (which is usually about 30% of the sale proceeds).

Clear out closets, pantries, cabinets and built-in storage. Buyers want to see clean, open storage space. It’s a safe bet to empty out storage areas so they can be cleaned and fresh- ened.

Clear out and clean the bathroom, paying particular attention to medicine cabinets and under-sink storage. Remove or replace shower curtains. Be sure to dispose of medicine safely; don’t flush prescription medicines down the toilet or pour them down the drain, where they can affect the water supply. Safely dispose of cleaning solutions, too. Throw out old makeup, grooming supplies, soap and the like. Do keep a ready supply of liquid soap, toilet paper and disposable guest towels.

Consider holding two estate sales: one for small things, collectibles, yard furniture and garage gear. This clears out small things and sparks interest in the house itself. Even if the house isn’t yet ready to paint, stage and photograph, consider creating a simple listing (free at USRealty.com) so you can pass out listing sheets to sale shoppers. Also collect email addresses of shoppers who are interested in furniture and larger items you may want to sell once the house is under contract.

Successful staging of the house might invite buyers to inquire about buying the furniture, lamps, and accessories that complement the house. Research asking prices in advance so you can respond with reasonable asking prices. As well, you might offer furnishings as part of the negotiation, especially for first-time buyers on tight budgets.

CASH FLOW, RETURN AND SELLING STRATEGIES FOR LOCAL REAL ESTATE INVESTORS

In many areas, the rental market is tight and rental prices are rising. But, so are house prices, especially in markets with strong job growth. Many renters decide to buy their first houses when the cost of owning is equal to or less than the cost of renting.

That’s how the rental market in your area directly affects demand for home-buying. As you market your USRealty.com-listed house to local house hunters, it’s important to understand how they are calculating the rent vs. buy equation.

Here’s how to understand how renters are sizing up their buying opportunities.

According to the 2016 “State of the Nation’s Housing” report just released by the Joint Center for Housing Studies at Harvard University, 67% of renting heads-of-house- holds believe that “homeownership is an excellent investment.” Even if lots of shiny new rental complexes are opening in your area, chances are still good that many of those renters aspire to buy. They’re waiting for the right house at the right time.

Market to The Rent vs. Buy Math

If renters want to buy, what’s holding them back? The lack of a down payment, for one thing: it takes a while to save up even a 10% down payment, especially for young renters carrying student debt. To see if your house is an affordable option, use this rent vs. buy calculator offered by the New York Times to see how the likely monthly cost of owning your house compares to average rents in your area. If you find, for example, that the typical two-bedroom apartment in your area rents for about $1,500 a month, and a buyer putting 20% down would probably have a $1,700 monthly housing bill for your house (including mortgage, taxes, HOA fees, and some utilities), you have discovered that your house is in the sweet spot for renters.

It might be worthwhile to see how you can reach those renters. Try posting on social media sites popular with residents of rental neighborhoods, or by including keywords important to those residents in your home listing.

Renters might want to buy, and they might be interested in your house, but other factors could prevent them from making an offer. Many first-time buyers are building credit his- tories so that they can qualify for the best mortgage rates. Others are concerned about the expenses of moving and closing costs. If your house is a good option for local renters, it’s helpful to understand some of their related concerns so you can negotiate accordingly – perhaps, for instance, offering to leave outdoor furniture to offset one expense of enjoying your yard, or offering to vacate the house midweek when moving crews are cheaper. GLOSSARY OF REAL ESTATE TERMS

Acre: A measurement of land equal to 43,560 square feet in any shape

Adjustable Rate Mortgage (ARM): A mortgage with an interest rate that is changeable; it usually has a cap. ARMs typically start with a low ‘teaser rate’ that that adjusts to the market rate after several years.

Addendums: Additional materialsadded onto a document

Agency: A written or oral contract in which you authorize an agent to act on your behalf of in dealing with a third party, such as a home buyer.

Agent: A person who is authorized to represent another person. Real estate agents must be licensed in each state in which they do business. Typically, real estate agents are affiliated with a broker, an umbrella real estate business that markets home buying and selling services under its brand. Most agents are self-employed.

Agreement of Sale: A written purchase and sale agreement.

Amortization: The act of paying off a mortgage with periodic payments of principal and interest. The amortization schedule you shows you much of the amount you are paying goes to principal (the sale prices of the house) and how much goes to interest (the cost of the mortgage, paid to the lender).

Annual Percentage Rate (APR): A yearly rate of interest that includes all the costs of acquiring the loan.

Appraisal: The estimated fair market value of a house by an authorized and licensed person.

Appraiser: The authorized person who estimates the fair market value of a house. Ap- praisers are licensed by the state in which they do business.

Appraisal Value: The fair market value of a property as determined by an authorized person, typically an appraiser.

Assessed Value: The value of a property for tax purposes, as determined by a municipal assessor. Assessments may or may not reflect market value. Assessed value is not the same as the appraised value.

“As Is” Condition: The current condition of a house including all its defects.

Assessment: An estimate of a property’s value for tax purposes.

Assessed Value: The official valuation of a property for tax purposes.

Balloon Mortgage: A mortgage amortized over a period of years but whose final payment is due after a set number of payments.

Balloon Payment: The final payment of a balloon mortgage.

Bill of Sale: A contract that transfers of property from the seller to the buyer.

Binder: An agreement between a buyer and a seller that sets forth the conditions of a sale; shows the good faith of both to have an attorney draw up a sale and - purchase contract.

Breach of Contract: A failure to execute the terms of a contract.

Bridge Loan: A loan that covers the period between the end of one loan and the beginning of another. If you bought a new house before the old house sold, you might get a bridge loan to cover the brief period during which you own two houses.

Broker: A person licensed to deal in real estate matters.

Broker Pricing Opinion (BPO): Comparative Market Analysis.

Broom Clean: The relatively clean condition of a house when given to a buyer.

Building Code: A set of laws to be followed in the construction and building business.

Building Permit: Permission granted by local government to build on a property.

Buyer’s Agent: A person authorized to work on behalf of the buyer of a property.

Capital Gain: The increase in value of an asset; the profit from the sale of property.

Clear Title: A title to a piece of property that is free of liens or legal problems. The title is your proof of ownership. A clear title means that there are no complications to that ownership, such as another owner also claiming to own the property.

Closing: The final step in a real estate deal; money is given to the seller and title is given to the buyer and the title transfers from the seller to the buyer.

Closing Costs: Fees and expenses associated with the transfer of ownership of a piece of property includes many different fees; can often add up to a substantial amount.

Closing Statement: The document that lists all financial data at time of closing.

Cloud on Title: A claim on a piece of property that affects the title; can be settled by var- ious actions. For example, a builder might put a lien on the title if the property owner did not pay his bill to the builder. Before the sale can close, the outstanding liens and any other complications to the title must be cleared up.

Commitment Letter: A promise in writing by a lender for a specific amount of money over a specific period of time with specific terms (for ex., interest rate).

Commission: A fee paid to a broker for transacting a real estate deal. The traditional 6% commission is split evenly among the buyer’s agent, that agent’s broker, and the seller’s agent and that agent’s broker. By using USRealty.com, you can decide how much commission you want to pay. USRealty.com recommends compensating the buyer’s agent and buyer’s broker the traditional 3% commission so that you attract buyers’ agents when marketing your house.

Comparables: Properties similar in value to a property being sold; used for appraisal purposes. Usually these are houses near by, in similar condition, and of a similar size.

Competitive or Comparative Market Analysis (CMA): A comparison of recently sold homes that are roughly similar to each other in location, selling price, etc. also known as comparative market or Broker Pricing Opinion. CMAs are often offered for free by listing agents as a way to get in the door and onto your couch. Their analysis helps you understand how your house compares to recently sold houses, but don’t confuse the informal CMA with an appraisal by a licensed appraiser or with the assessment completed by the municipal assessor.

Contingency: A condition that must be met before a transaction is binding; for example, a house inspection must be acceptable before a deal is binding.

Contract: A legally binding agreement between a buyer and a seller. Conventional Mortgage: A type of financial loan made by an institution such as a bank without any government underwriting.

Counteroffer: An offer made by a buyer to a seller for real property, usually a lower offer than the asking price. For example, A rejects B’s price and offers a lower price, which is a counteroffer.

Covenant: A binding agreement between two parties.

Credit Report: A report citing all debts and their repayments.

Cul-De-Sac: A street closed at one end.

Curb Appeal: The appearance of a house from the outside; for example, attractive landscaping, decorated door, etc. ‘Curb appeal’ offers the first impression a buyer has of a house, so is considered an essential element in marketing a house.

Debt-to-Income Ratio: A percentage comparing expenses to your household income; for example, housing expenses might be 30% of income.

Deed: A signed and executed document conveying title to a piece of property. The deed proves that you own the house.

Deposit: Money given by the buyer to the seller to create a binding sale.

Disclosure: The act of revealing any problems with a piece of real estate.

Down Payment: The difference between a mortgage amount and purchase price given to the seller by the buyer.

Discount Brokers: Licensed brokers who usually settle for a lower commission; offer fewer services than full-service brokers.

Earnest Money: Money given by the buyer to the seller to secure a deal; becomes part of the down payment if offer is accepted.

Easement: An interest or right to land owned by another for a specified purpose. For example, a utility may have an easement.

Equity: The value of a house minus the amount owed on the mortgage. For example, Max owes $50,000 on a mortgage with a fair market value of $200,000; his equity is $150,000.

Escrow: Usually money held in trust by a third party until a specific transaction has been completed.

Fair Housing Act: This federal law bans discrimination (race, color, sexual orientation, religion, etc.) in the sale or rental of real estate. When you market your house, you must comply with the Fair Housing Act.

Fannie Mae or Federal National Mortgage Association: The largest supplier of home mortgage loans to retail lenders. If you get a mortgage through a bank, credit union or other type of mortgage lender, and chances are that the lender then sells the loan to Fan- nie Mae so it can quickly get the money back and lend it again.

Fixture: Personal property attached to real property that is passed on with the sale of the house unless specifically excluded in the sale. Traditionally, anything physically attached to the house is considered a fixture, including curtain rods, light fixtures, faucets, wall-to-wall carpet, and built-in furniture. The sale contract specifies which appliances and other fixtures are included in the sale, as well as any exclusions. When in doubt, list any amenity in the contract as part of the sale.

Financing Costs: Any fees incurred in borrowing money for a real estate transaction. For example, interest, points, and so on.

Foreclosure: A legal proceeding by which a property owner loses interest in a mortgaged property through default on a loan.

For Sale By Owner: Selling the house on your own without using agents or brokers. USRealty.com can be used as a ‘for sale by owner’ service, if no agents or brokers are involved, but it is smart to offer a buyer’s agent and broker the traditional 3% commission to provide an incentive for them to bring their buyers to your house. Listing with a broker and agent, either a flat fee listing agent or a full commission agent, is the only way to get a listing on the multiple listing service.

Home Inspection: A structural and mechanical assessment of a house prior to the closing. Inspections should be conducted by a licensed home inspector. Home inspectors are not municipal building inspectors.

Home Owners Association (HOA): A group of homeowners who, through the collection of association fees, manage the common areas. Many HOAs are corporations with the right to put a lien on a member’s house if that member does not pay his fees, depending on state law.

Home Warranty: A guarantee of the quality of construction offered by the builder to a buyer.

House Flyer: A paper or digital one or two-page advertisement detailing the features and specifications of the property, such address, size, number and size of rooms, amenities, and description.

Interest Rate: The percentage of the amount borrowed for a mortgage charged by the lender to the borrower.

Jumbo Loan: A loan of usually more than $429,000; not all lenders engage in jumbo loans; interest rates for such a loan may be higher than the usual rates. Jumbo loans are defined by Fannie Mae and vary by market.

Lead Paint Disclosure: The disclosure of the possibility of the presence of lead paint in a structure; lead paint is hazardous to health and may be present in buildings constructed prior to 1978.

Lease Option: A lease in which the tenant has the right to purchase real property as stipu- lated in the terms of the lease. Also known as rent-to-own.

Legal Description: A description of the exact boundaries of a piece of real property; it is a description recognized by law and is used to locate a specific parcel of land. The legal description is usually written by a surveyor.

Lien: A legal claim against a real property; security until an obligation such as taxes, debts, and so on are paid.

Listing: The short description of the house and its location distributed through multiple listing services and real estate websites to show potential buyers that the house is for sale. A listing is a legal agreement to sell using the broker and agent with whom you have listed the house.

Loan: Money that is borrowed and usually repaid with interest. Lot and Block: A numbered method of identifying a parcel of land.

Lot and Block System: A system of identifying real property by lot and block numbers on a recorded subdivision map.

Loan to Value: The amount of a loan compared to the appraised value of a property.

Marketable Title: A clear, saleable title to a piece of real property.

Mechanic’s Lien: A lien enforceable by legal proceedings favorable to contractors, engi- neers, laborers, and others who had worked on the property, in an effort to complete payment for labor and/or materials.

Metes-and-Bounds Description: An accurate description of land boundaries (metes- =length; bounds=boundaries).

Mill: A unit of measure (one-tenth of 1%) used in determining the amount of annual taxes due on real property. Taxes are calculated on the millage rate.

Mortgage: A legal document whereby a parcel of real property is used as security for the repayment of a debt. If the loan is not repaid on time, the lender has the right to call the loan and sell the property to pay off the mortgage.

Mortgage Broker: An agent who brings together a borrower and lender for the purpose of earning a commission. multiple listing service (MLS): A service that lists for its members all properties for sale; provides wide market exposure; gives all agents the opportunity to sell a property and share in the commission.

Offer: A presentation of a price by a buyer to a seller for acceptance.

Open House: A specified time during which a house is open to prospective buyers without an appointment.

Origination Fee: A fee charged by the lender for the preparation of a mortgage; usually called “points.”

Personal Property: Any property which is not real property (that is, whatever is not attached to the property itself) and is not a fixture. Depending on local custom, some items, such as appliances and grills, may or may not count as personal property. When in doubt, list in the contract any item you want included in the sale.

Pre-approved: A method by which the buyer can show the agent and/or seller that he can qualify for a specific loan amount.

Point: Money paid to a lender for making a loan. Each point is equal to 1% of the loan amount. Also, see Origination Fee.

Power of Attorney: A legal document whereby a person gives another the authority to act on his/her behalf.

Prepayment Clause: A stipulation in a contract that allows the borrower to make a loan payment in advance of the due date.

Prepayment Penalty: A fee payable to the lender by the borrower for prepayment of a loan.

Pre-qualified: An assessment of a buyer’s ability to secure a loan. Principal: The amount of money borrowed or the amount due on a mortgage.

Private Mortgage Insurance (PMI): Insurance required by a lender when the down payment is less than 20% of the cost of the property. When the mortgage is 80% of more of the purchase agreement, the lender requires PMI to ensure that it is paid back if you die or default.

Property Tax: A government tax on privately-owned property based on market value

Purchase Agreement: A contract between a buyer and a seller setting forth the sale and purchase conditions of real property.

Purchase Money Mortgage: Mortgage given by the seller to the buyer as part of the purchase price.

Radon: A radioactive, odorless gas sometimes found in a house which can be harmful to health.

Rate Lock: The lender’s commitment to a borrower for a specific interest rate charged on a mortgage loan.

Realtor: A licensee who is either a broker or salesperson and who is a member local, state and National Association of Realtors. Not all realty agents are Realtors but all Realtors are realty agents.

Rescission: Cancellation of a real estate contract between a buyer and a seller.

Release: A legal instrument releasing a property from any liens.

Sales Contract: A contract agreement between a buyer and a seller specifying all the terms and conditions of the sale of real estate.

Sales Comparison Approach: One of several appraisal methods which estimates the value of a house by comparing it to recently-sold comparable properties.

Security: Real estate pledged as collateral for a loan.

Septic System: A sewage system using pipes to drain waste into a below ground septic tank.

Seller Financing: A financial arrangement whereby a seller provides financing for the buyer, bypassing traditional mortgage lenders.

Seller’s Disclosure: A seller’s accurate and honest disclosure of the condition of the real property. The legal liability for full and honest disclosure of the property’s history and condition varies by state.

Settlement Statement: A statement of all costs of a real estate sale; generally given at the closing.

Sign-in Sheets: A list used to collect contact information from interested buyers at an open house.

Single Family: A house designed for use by a one family.

Time is of the Essence: A contract clause specifying that a condition be met within a specified period of time.

Title: Evidence to the right of ownership of a piece of real estate. Title Insurance: Insurance against loss from title problems or claims against the property.

Title Search: A search of all records to determine the ownership of a real property.

Walk-through Inspection: An inspection of the premises being bought, usually on the day of closing, to make sure all is in working order according to the terms of the sale.

Zoning: Regulations by local government of the size, height, etc. of buildings and the use of land. FREQUENTLY ASKED QUESTIONS

• Does USRealty.com use the same MLS that agents use? Yes, and your listing goes into the same exact system.

• Why is your price so low? In most areas, USRealty.com does not need to an affili- ate broker to list your house in your local MLS, because USRealty.com already be- longs to that MLS. This means you pay only once to list your house in the industry’s ‘secret weapon’ for selling homes. As well, USRealty.com has the advantage of scale. As one of the largest flat fee brokers in the country, we have an efficient operation that handles thousands of listings annually… and we pass the savings on to you.

• How long will it take before my home appears in the Multiple Listing Service (MLS)? Your listing will appear the same day or on the next business day, after you return the completed forms to USRealty.com. Some MLS systems manually enter listings they receive from all sources, including USRealty.com, in a process that takes two extra days for activation. USRealty.com will notify you if your MLS is in a region that requires extra time to activate listings.

• How much total commission will I owe if another broker or agent sells the house I have listed with USRealty.com? Another broker probably will represent the buyer. Before you list with USRealty.com, you decide the commission, from 1%-4%. US- Realty.com recommends offering buyers’ agents the traditional 3% buy-side commission. That means that you keep the 3% commission that usually goes to a listing agent, retaining that 3% of home equity for yourself.

• How much total commission will I owe if I sell the house I have listed at USRe- alty.com, without the involvement of a buyer’s agent? None! With one exception: in the Atlanta metro area, customers must pay a 0.12% (.0012) fee at settlement for the Atlanta area MLS. FMLS. However, you will pay a success fee of at least $296 to USRealty.com, depending on the rules in your state.

• What commission rate to you recommend I offer to co-operating buyer’s agents? USRealty.com recommends offering a 2.5-3%commission for properties over $100,000. Traditionally, buy-side agents receive a commission of three percent. When you offer the commission they expect to earn, there is no barrier to showing your house and working with you.

• In plain English what do “seller’s agent” and “transaction licensee” mean? A “seller’s agent” represents the seller’s interests. A “transaction licensee” does not represent the seller or the buyer.

• Will real estate agents want to show my house, knowing that it is listed through USRealty.com? Yes. Agents need houses to sell, and USRealty.com streams thousands of houses onto local markets, fueling sales for hundreds of agents. Agents and brokers will show your house if you offer a competitive buy-side commission, typically 3%, and if your house is reasonably priced.

• Do agents contact USRealty.com customers trying to get them to sign a full- commission listing? Yes. Some agent troll USRealty.com listings to contact sellers and claim that agents won’t show your house. This is unethical and ineffective, because USRealty.com is a licensed broker, with all rights and responsibilities of all brokers who contribute to MLS systems. And, ultimately, agents want to sell houses. Smart agents realize that houses come on the market through many types of agencies. House hunters usually find houses on their own through the online listing sites that showcase all MLS listings, including USRealty.com listings. A house hunter doesn’t care what kind of agency listed a house he wants to see, and smart agents realize that it doesn’t matter to them, either, as long as they earn a commission for managing the buyer’s side of the transaction. Finally, USRealty.com tracks the source of home sales, and has verified that many of those sales are transacted with name-brand agencies and brokerages.

About USRealty.com

USRealty.com is an innovative online service that makes the home-selling process more affordable and effective. USRealty.com lists houses on all the most powerful real estate websites, including the local MLS for free, allowing consumers more control in the home- selling process by choosing their commissions and retaining home equity. USRealty.com has served the commercial real estate industry with interstate transaction support since its inception.

For more information, visit www.USRealty.com.