Chaim Horowitz, REALTOR®

Serving the Lakewood, Jackson, and Toms River Communities of New Jersey

732-232-7637

Selling
Your Home

The Sale Process

The process of selling your home can either be like a long, hard, and confusing battle, or it could be like a stroll in the park. If done correctly, you will feel like everything is being done to help you sell your home in Toms River, N.J. with the goals that YOU have in mind. If done incorrectly, you may end up signing an agreement with a Real Estate company, and then simply not hearing from them for weeks or even months on end.

The Goal of this Page

The goal of this page is to help you make an informed decision. I would like very much for this page to make you more comfortable with your understanding of the process of selling a home in Toms River, New Jersey.

Your Goal   -   The Reason WHY You are Selling Your Home

The only way I can truly help you is by completely understanding your goals. Do you NEED to move? Perhaps you don't really need to move, but would still like to sell if you could get YOUR price. On the other hand, if you DO need to move, you may be best off putting your home up for sale at fair market value. Do you need to move quickly? Would you be okay if your home didn't sell until six months from now? My advice to my clients is always preceded by a thorough understanding of my clients' goals.

What is My Home Worth?

Establishing the true market value of your home is an integral part of the selling process.

Obviously, if you price your home too low you lose money. But did you know that you are likely to lose money if you price your home too high? That's right. I'll explain the logic for this.

The best chance a home has of getting the highest sales price possible is when it sells quickly. If it is priced too high, it is unlikely to sell until you reduce the price. As time goes by with the house sitting on the market, it loses value. Why? Because when prospective buyers walk in to the home, instead of thinking about how nice it looks and all the potential it has for them, they are just thinking, "What's wrong with it? Why hasn't it sold yet?"

They don't attribute the fact that it didn't sell yet to it being overpriced. They assume there must be something wrong with the house, and that's the reason nobody bought it yet. As a result, they put in a significantly lower purchase offer, or worse, don't bother putting in an offer at all.

So just what IS the Market Value of your home? Let's start by what it ISN'T. It isn't what some realtor decided it is by pulling a number out of a hat. It isn't what your neighbor says she sold her house for. It isn't the number that you WANT or NEED to get for your home. It isn't what any website on the internet says it is.

ONLY ONE THING determines the TRUE market value of your home. The Market Value of your home is determined by what THE MARKET is willing to pay for it. That's it. Period.

What is The Market Willing to Pay for My Home?

Excellent. You're on the right track. Now you're asking the right question.

Here's the answer:

A good Real Estate Agent will invest a significant amount of time to figure out what The Market is willing to pay.

Your agent should do a thorough CMA, or Comparative Market Analysis. A good CMA compares the subject property to similar homes in the neighborhood that sold recently, are under contract, are active on the market, or have expired.

Adjustments are made for factors such as the size of the home, when it sold, number of bedrooms, number of bathrooms, year built, condition of the home, Square footage of the home, square footage of the lot, zoning and subdivision potential, is there a basement, is there a garage, and many other factors.

When all these calculations are properly performed, you now have an expert OPINION as to what the market is willing to pay.

But Couldn't we Start Off Listing it Higher than Market Value, You Know, Just to See What Happens?

The most attention that a listing will ever get is when it is FRESH on the market. Toms River Realtors are checking the MLS (Multiple Listing Service, the vast computer network where Realtors go for the most accurate info on the market) daily for their Buyers who haven't yet found the house that's right for them.

All these Buyers are sitting and WAITING for something NEW to hit the market. If your home is priced right, you will benefit from all of these WAITING BUYERS who will come see your home because it's new on the market. Don't forget. Getting the most money for your house is all about Supply and Demand. By bringing all these waiting buyers to the table you are increasing the Demand for your home.

If you put your home on the market above market value, all these buyers will never see it because it is not in their price range. By the time you realize that you need to lower the price, it will no longer be a new listing, and will not even get close to the amount of attention that it could have gotten if priced correctly from the start.

Should I try to Sell My House on My Own?

This is a good option for those people who enjoy selling their home as a hobby, and are not concerned if their house sells for far less than market value. According to the National Association of Realtors®, for the 12 month period ending June 2014, the typical agent-assisted home sale sold for 13% more than the typical "For Sale by Owner."

Of course, there are many other reasons to list with a Realtor as well. I will list some of these in the near future. For now, I will keep you in suspense. If you can't handle the suspense, give me a call, and I'll fill you in. 732-232-7637.

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Chaim Horowitz

Real Estate Agent

Chaim Horowitz

732-232-7637

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I look forward to working with you!