In the heart of the Bay Area, real estate transactions are more than just sales; they are moments that shape the life stories of sellers and buyers alike. The Palermo Properties Team acknowledges this fact, and therefore, our approach to handling each listing is nothing short of comprehensive, client-centric, and tailored to the unique nature of the Bay Area market. Our team is dedicated to being with you every step of the way, providing the expertise needed to navigate the market's complexities and maximize the value of your property. From initial research to the joyous moment of closing, our team offers a step-by-step guide to ensure a seamless transaction. Here’s a detailed look into how we handle each listing:
UNDERSTANDING THE MARKET
- Collect the prices for comparable homes sold or on the market currently to prepare a Comparative Market Analysis.
- Gather information on neighborhoods and surrounding properties.
- Pull market trend data to understand what’s happening within the broader region and neighborhood.
- Attend broker tours to see other available properties on the market.
- Stay connected to local buyers, sellers and other agents to maintain a constant view into what is driving the market.
- Prepare a Comparative Market Analysis (CMA).
RESEARCHING THE PROPERTY
- Understand the full history of the property, including any changes and improvements made.
- Determine any geographic risks for the property and the surrounding area.
- Assess the current condition of the property.
- Develop a proposal for property improvements, remodeling and staging.
- Learn all relevant details and attributes of the property, including number of bedrooms, bathrooms, square footage, acreage, etc.
- Look up the property’s tax information.
- Research any localized rules and regulations applicable to property.
- Collect maps, surveys and reports associated with the property.
- Obtain proof of ownership.
- Develop a comprehensive listing marketing strategy.
STRATEGIZE WITH THE SELLER
- Understand the client’s interest in investment, risk and monetary return.
- Learn personal details about the seller and what is motivating them to sell their property.
- Provide pricing for current condition versus improved condition.
- Advise the client about potential pricing strategies reflecting the current market.
- Create presentation materials regarding the property.
- Create a communication plan with the client.
- Create and complete a listing agreement package for the client.
- Prepare and produce other relevant buyer and seller protection forms.
- Invite the client to navigate through all documents together.
- Review all forms in disclosure package.
PREPARATION OF THE PROPERTY
- Determine when property can be accessed.
- Schedule all media appointments, including photographer, videographer, aerial photographer, staging professional and or cleaning services.
- Order and install “For Sale” sign and any other relevant signage.
- Secure and register electronic key box and deliver to property.
- Recommend vendors to client for improvements prior to listing.
- Order a floor plan.
- Advise on all agreed upon improvements including landscaping, painting, fixture updates, minor and major renovations, etc.
- Plan listing date.
- Input listing into MLS.
- Consider creating listing as “Coming Soon” if available in the market.
- Create pre-marketing collateral.
- Write listing description.
- and execute open house and showings schedule and update MLS listing with corresponding times.
- Update MLS with corresponding times and client preferences for showing appointments.
- Maintain consistent communication with seller to provide ongoing updates on progress.
- Submit finalized listing documents for compliance review.
- Design materials that showcase the property, such as emails, brochures, social media posts, Workplace posts, digital white board, etc.
- Expose property internally to almost 30,000 Compass agents.
- Create a “Just Listed” video to post on social media.
- Print materials for open houses and showings.
- Post listing on social media as a “Coming Soon” or new listing.
- Conduct & create a reverse prospect campaign.
- Create QR codes for the property.
ACTIVATE & MARKET LISTING
- Make disclosure package accessible by adding to MLS.
- Publish listing to MLS and IDX to third party sites.
- Create Collections to show comps related to the property.
- Broadcast listing to personal and professional networks through social media posts and email blasts.
- Share property with Compass network and other agents at Sales Meetings and via personal outreach.
- Create and run digital ads to target buyers and markets.
- Monitor any changes in the market to refine listing strategy and make needed updates (revising price, terms, etc.) accordingly.
- Refine listing marketing strategy based on feedback.
- Communicate progress of listing.
SHOW THE PROPERTY
- Communicate with the client to confirm schedule and preparation.
- List the open house to the MLS and verify times are correct.
- Coordinate and host private tours and open houses.
- Organize specific marketing campaign for the open house.
- Provide access to network of local lifestyle partners.
- Arrive at the property in advance of scheduled open houses to turn on lights and verify show readiness.
- Accompany showing appointments when appropriate or required.
- Answer all emails and communications from the buyer agents regarding the property, disclosure questions, etc.
- Strategically decide on the appropriate offer date, communicate the offer date to all the parties.
OFFERS & NEGOTIATIONS
- Compile, organize and communicate any received offers to seller.
- Advise and strategize with client on actioning offers and creating and approving any counteroffers.
- Present counteroffer to buyer’s agent.
- Complete all relevant documentation for counteroffer.
- Liaise between seller and buyer’s agent for any additional counteroffers, advising the seller along the way to secure the most advantageous price and terms.
- Update finalized offer package and coordinate signatures of both parties.
- Notify client when terms are agreed upon.
- Share disclosure package.
- Attach all completed documents to compliance checklist.
- Update MLS listing status.
- Send executed offer package, receipt of purchase and sale contract to Closing Attorney.
- Create mutual overview.
- Arrange and track earnest money and send earnest money receipt.
- Create and execute closing timeline and transaction review.
- Stay in close contact with all relevant parties through next steps.
MANAGE DISCLOSURES & CONTINGENCIES
- Share disclosure package.
- Share estimated all documents with Attorney.
- Communicate earnest money, down payment and contingencies with all parties.
- Coordinate and confirm inspection.
- Coordinate and confirm appraisal.
- Ensure buyer funds are collected in full.
FILE DOCUMENTS & PREPARE FOR CLOSING
- Send out recorded and closed emails.
- Ensure copies of signed closing documents are shared with buyer’s agent, seller, mortgage company, etc.
- Update MLS listing status.
- Ensure funds are submitted and all commissions are allocated appropriately.
- Remove signage.
- Congratulate client on a smooth and successful process!
To all our valued clients, both current and prospective, we want to emphasize that our primary focus isn't on our accomplishments or earnings. Instead, it's on the unparalleled service and value we deliver to you. The true measure of our success lies in the relationships we build, the stories we help shape, and the communities we enrich. In the world of professionals, it's not about boasting our achievements, but about highlighting the dedication, effort, and expertise we invest in every transaction. Let the Palermo Properties Team be your trusted partner in your next Bay Area real estate journey.
-- By Mark Palermo, President-Palermo Properties Team