Seller Timeline
01 Let's Talk ➕
We'll meet to discuss your plans and goals, trends in the current marketplace, and assess your property’s qualities and characteristics. I will analyze comparable property sales, and work with you to determine pricing. You'll outline a strategic plan to achieve the best possible result for you as a seller.
02 Setting the Stage ➕
From applying a fresh coat of paint to rearranging furniture, I will work with you to ensure the property is visually ready to make the right first impression with buyers. I will prepare to market your property, which can include scheduling a photoshoot, organizing staging, commissioning an illustrative floor plan, and writing a listing description. We'll also sit down to complete the Seller Disclosure documents necessary for the transaction.
03 Going Live ➕
Your property listing is showcased on Compass.com and sent across our 100+ partner sites for the duration of the selling process.
04 Spreading the Word ➕
The Compass marketing team produces beautiful print collateral to strategically showcase your property. Your agent develops and executes an intelligent, effective paid marketing plan in relevant publications. Eye-catching property signs are produced and placed outside your property.
05 Making Connections ➕
Your agent continuously leverages professional contacts and the Compass Network Tool to find ideal buyer brokers. Open houses are hosted for both brokers and clients on an ongoing basis.
06 Building a Strategy ➕
Your agent conducts an assessment of the market response within the first 30 days of your listing going live. Feedback from agents and buyers is aggregated, and the listing strategy revised if needed.
07 Communication ➕
You and your Compass agent will establish the best method and frequency of communicating as the process unfolds. Your agent will provide you with regular feedback and will keep you updated with continuous traffic metrics and information from the market.
08 Negotiations ➕
Once we receive an offer, your agent will contact you to review the terms of the offer and analyze the pros and cons. Together you will decide how to respond to the buyer in one of several ways: by accepting the offer, rejecting the offer, or making a counter offer.
09 Escrow ➕
Once a contract has been agreed to and signed by all parties, an escrow will be opened and the buyer’s contingency period will begin. Timelines for the completion of buyer and seller responsibilities will be listed in the purchase contract and adhered to in the escrow. Your Compass agent will keep a close eye on the timelines and ensure that you are in compliance with your responsibilities, while also holding the buyer’s side to task to keep the process moving.
10 Closing ➕
Your Compass agent will monitor and coordinate all the details necessary to get you to the finish line. Once the buyer has performed their inspections, removed their contingencies, and the loan (if any) is ready to fund, your agent will arrange the final walk-through. At or near this time the escrow will close, payment will be made, and the keys will be handed over to the buyer.
Key Terms
Appraisal - Assessment of the property’s market value, for the purpose of obtaining a mortgage and performed by a licensed appraiser.
Assessed Value - Value placed upon property for property tax purposes by the Tax Collector.
Closing Costs - Expenses incidental to a sale of real estate, such as loan fees, appraisal fees, title insurance and escrow fees.
Closing Statement - The statement which lists the financial settlement between Buyer and Seller, and the costs each must pay.
Contingency - Certain criteria that have to be met in order to finalize the sale.
Conventional Mortgage - A mortgage or Deed of Trust not obtained under a government insured program such as FHA or VA.
Credit - Money given to a buyer from a seller through escrow at closing.
Escrow - A neutral third party that handles the transfer of any money during the sale of a home from initial deposit to final funding and closing.
Earnest Money Deposit - Buyers in California usually deposit 3% of the purchase price to show that the buyer is serious about purchasing the home. It is usually refundable in the event a contingency in the sales contract cannot be met.
Fixed Rate Mortgage - A loan on which the interest rate and monthly payment do not change.
Home Warranty - A policy that covers certain repairs (e.g. plumbing/heating) of a newly purchased home for a period of time, typically one-year.
Preliminary Title Report - A report showing the condition of title before a sale or loan transaction. After completion of the transaction, a new title insurance policy will be issued.
Title Insurance - Insurance to protect the buyer and lender against losses arising from disputes over the ownership of a property.
Recording Fees - Money paid to the lender for recording a home sale with the local authorities, thereby making it part of the public records..