Preoh Process

SELLING WITH PREOH

THE PROCESS

BEFORE YOU LIST YOUR HOME

Market Analysis

Preoh gives YOU access to all the information found on the MLS (Multiple Listing Service), and all the other Real Estate websites (Realtor.com, Zillow, Trulia, other broker sites, etc) on your personal dashboard. You have the important data used to price your home. We don’t act as gatekeepers of information, and pick and choose the properties you can see. Preoh organizes the information in a unique, user-friendly format, and you will see every piece of information about other homes that have recently sold and what is currently on the market.

Preoh provides charts and graphs that are not available anywhere else. Preoh has developed algorithms to track market trends historically, as well as in the present. When you to review all the data you will be able to develop your pricing strategy with your goals in mind. If you want guidance, your Preoh agent will work with you to understand the information, and help you achieve your goals of time on market and net proceeds from your sale.

Preoh gives you facts - hard historical and current data. Preoh won’t tell you what you want to hear to get your listing, and then badger you to lower the price every two weeks. In the first few weeks your property is on the market you should see the highest showing activity. Remember that buyers today have their home searches set up on various websites, and when your listing first comes on the market, they will receive a notification of a new listing. These searches are usually set to send properties that are only a small amount higher than their spending limit. If you price above what the property is realistically worth these prospective buyers won’t see it in their notifications. These are the buyers who are watching the market and ready to buy. You make the ultimate decision on price, and the market will tell you if you are properly priced.

PREOH LISTING AGREEMENT

Sign-Up

To initiate your contact with Preoh, you can sign-up from any page on the website. When you validate your email address, you will receive a listing agreement via email. It will be pre-filled with the information you have provided. You do NOT have to put a price in the contract at this point, you can decide later what to list your home for. At any time, you can change the price of your listing, or increase the commission paid to a Buyer broker through the Preoh online system. You can see all the details of your listing and local market activity in one place.

Real Estate Contracts in General

A contract is a leglly binding agreement between two or more parties. When you use a broker to help sell your home, you must sign what is called in the trade, a Listing Contract. The contract stipulates the terms of your agreement with that Broker. This includes the services the broker will provide; the obligations that you, as the seller, undertake; the compensation that will be paid, and the start and end date of the contract.

When you sign the listing contract with a Real Estate Firm you, the home seller, and the Broker are both legally obligated to fulfill all of the terms of the contract. It is important that you fully understand any contract that you sign. You might want to consult with an attorney if there is any part of the agreement that you do not understand.

Preoh Listing Contract

The Preoh listing contract is short and easy to understand. The Preoh listing agreement is a six month agreement. You can cancel any time with thirty day notice. Preoh doesn't need an onerous contract to keep customers. In the Preoh listing agreement you, the seller, agree to pay Preoh a total of one percent commission. Preoh will use a portion of that 1% to offer a small commission to a Buyer Broker, per MLS regulations. When you send your contract back to Preoh, a representative will call you to discuss your goals and timeline. Your representative will also approve your contract so you have access to your personal dashboard.

If at any time you have any questions, please call us! We are here to work with you and make the process as easy and transparent as possible.

HOME DETAILS

Listing Input

From your personal dashboard you can fill in all of your listing information. This is what we will use to put your listing in the Multiple Listing System. You can complete a section at a time or do it all at once – all from the convenience of your home or office.

Disclosures

The State of Connecticut requires you to provide a Property Condition Disclosure. The disclosure is also on your dashboard, and you can fill it in at your convenience.

Photographs

You can provide up to 40 photos of your home and property. You can also include photos of nearby attractions that can help generate interest in your home. We recommend you hire a professional photographer, and we have several resources for photography who will give Preoh customers a special offer. We find that for most properties, you won’t need more than 20 good photographs to tell the story of your home, and generate interest in seeing it in person. You upload your photos into your home website, and we take them from there to put them on the MLS and all other internet sites.

Description

The description of your property will appear in the MLS listing as well as other websites. You can write as long or short a description as you want to. It isn’t necessary to include the room count, as that is clearly visible in your listing on all sites. You want to capture the excitement you felt when you first saw the home: what attracted you? Be sure to include any features that set it apart from other similar properties.

On the Market

When you have completed and signed off on all the paperwork Preoh will put your home on the MLS and all the other websites. You can set the date you want the home to go on the market.

MARKETING YOUR HOME

Lockbox

Preoh will give you an MLS lockbox so buyers agents can access the property (with a confirmed appointment) to facilitate showings. The listing instructions will give your telephone number for scheduling showings. You don’t have to be home for these showings, the agents can use the lockbox. When your home is being shown, we receive email notification upon arrival and departure from the lockbox. We follow up with the agents to ask for feedback on the showing.

Signage

Preoh will provide you with a yard sign and directional Open House signs. They come in pieces that are easy to install and put together. It takes about 5 minutes to put the sign up. The directional signs are on H stakes that push into the ground for easy input and removal.

Open Houses

You can hold as many Open Houses as you like, and choose the times that are best for you. Many houses sell because of the Open Houses, as buyers like to see homes without the pressure of an agent accompanying them. They can see the home at their leisure, and you can ask them if they want a tour or to go through on their own. You are there to answer any questions they may have about the home or the area, and who knows this better than you do!

Property Flyer

From your property dashboard you can create your own property flyer. You have a choice of several templates, and can feature from one to five photos. Your description will automatically fill the lower part of the flyer. You can change the order of the photos and your description for different audiences, and change them back at any time. Flyers are used for Open Houses, or anywhere else you can post a flyer.

Facebook

Preoh will pay to advertise your Open House announcements. You just go to the Preoh Facebook page, “Like” the page, comment on the post, and share with all your facebook friends. This is an easy way to increase traffic to your Open House.

Market Updates

Every Tuesday you will get a market update. This will show you the activity for the past week. You will see a snapshot of properties new to the market, those that have taken a price reduction, those that have an accepted offer and what has sold. We want to make sure you are informed about the market, and can make decisions based upon the facts of the local marketplace to keep your property competitive.

OFFER, NEGOTIATION, & CLOSING

The offer

All offers will be in writing, and they will come to Preoh. They are typically emailed. Your Preoh representative will email you the offer, and any details that come with the offer, and call you to discuss it. Together we will analyze the content and strength of the offer as it relates to your personal goals. While Preoh will give you advice and guidance, and let you know if we think it is a strong offer, you are in control, and you will make all decisions regarding the offer and how it meets your goals. We will suggest tactics for the counter-offer.

Negotiation

Preoh will negotiate your deal for you. We will make suggestions as to a counter-offer that we feel could put the deal together if that is what you want to do. We will also suggest requesting further documentation from the prospective buyer if we feel it is needed.

Highest and Best

If you find yourself with multiple offers, we will explain that process to you, and analyze each offer that is presented looking at details such as contingencies and timing and anything else that would help you to make the best deal for your personal situation. Sometimes the higher price isn’t the best deal if there are financing or inspection concerns.

Keeping the transaction on track to close

After agreement is reached, it is important to meet date deadlines for inspections and contingencies. While this is largely the buyer’s and your attorney’s responsibility, we also have a clock ticking to make sure the deadlines are met and the home is on track to close on time.

Closing

The closing will take place at a mutually agreed upon location. Your Preoh representative does not have to attend the closing. Your attorney will receive bank checks from the buyer’s attorney to satisfy the sale agreement, and transfer them into your account. This is when you will realize what a smart decision it was to go with Preoh to sell your home – rather than paying your broker 5%, you will pay Preoh 1%!

Customer Service

Want to learn more?

Preoh agent is ready to assist you, call us: 203.557.2250, or email: support@preoh.com