meyer & gross
real estate

No question about it, home ownership is a big investment, maybe the largest you'll ever make. But over time, it's an investment that pays for itself many times over. Here's how:

Tax Advantages

• Mortgage interest is tax deductible.
• Real estate taxes are tax deductible.
• Local tax benefits are available in many areas.
• You can enjoy tax-free gains up to $500,000 from the sale of a primary residence that you have occupied for two of the last five years if you are married and filing jointly. If you are single or married and filing separately, you can enjoy tax-free gains up to $250,000. Moreover, you can use the exclusion as often as you meet the qualifications.

Investment Benefits

• You build equity over time, which you take out in cash when you sell your home.
• The profits from home investment are often greater than from many other investments.
• Because you can borrow against it in most states, home equity can be a source of emergency funding.
• Land appreciation adds to the value of your home.
• For many, home ownership is an important part of retirement planning.

Personal Satisfaction

• You gain more living space.
• You enjoy the satisfaction and pride of home ownership.
• Home ownership, for many people, is a sign of independence and achievement.

A Little About Us

Before you sell your home, there are some basic things you should think about: is the house ready to sell? How do I set the price? How much am I going to make? These questions are all important, but the most important decision you will make regarding the sale of your home is to choose the right agent. A Meyer and Gross Real Estate Co. agent has the experience and training to help you make the right choices. Remember, you don't know how important a good agent is until something goes wrong.

Should I Sell My Home Myself?

• Pricing Your Home
• Marketing Your Home
• Showing Your Home
• Drawing Up the Contract
• Is a Certified Residential Specialist a Better Choice?

Is My Home Priced To Sell?

• Factors Affecting Your Asking Price
• Factors That Should Not Affect Your Asking Price
• Problems That Can Arise from Overpricing
• A Certified Residential Specialist Can Help You Price Right

Is My Home Ready To Sell?

• Before the Showing Begins
• After the Showing Begins

Should I Sell My Home Myself?

It's a question thousands of homeowners ask themselves every year. If you're one of them, you have some difficult decisions awaiting you. Selling your home can be a long and complex process, so it's important to think about all the potential implications - both positive and negative - before choosing to go it alone.

To help you make the decision that's right for you, below is a list of some of the duties and responsibilities you would face as an independent home seller.

Pricing Your Home

Your first responsibility as an independent home seller is assigning your home an accurate value, meaning the highest price a ready, willing and able buyer will pay.

As part of the decision, you need to consider comparable properties in your area, current market conditions, as well as the cost of financing and its availability.

Remember that your listing should be in line with comparable properties and market trends - you don't want your home to linger on the market or sell for a lower price than you might have otherwise received.

You should remember that "For Sale by Owner" typically attracts bargain hunters who may expect you to lower your price since they too are looking to save money on REALTOR® commissions.

Marketing Your Home

Independent home sellers must also market their properties to the public. That means:

• Putting up signage that is consistent with local ordinances
• Developing and paying for display and classified ads in your local newspapers
• Holding open houses
• Working to ensure your home gets good word-of-mouth exposure among your friends, neighbors and community organizations

Showing Your Home

As an independent home seller, you would be responsible for all showings of your home. With that in mind, always encourage prospects to make an appointment, and discourage drop-ins. Work to screen the "buyers" from the "lookers" - curiosity-seekers are common at "For Sale by Owner" homes. You should also pre-qualify potential buyers to ensure they can afford to buy your home. When the time comes to negotiate, you'll need to be prepared and informed. Try to resolve any doubts your buyers might have, work to keep their interest high and make a final agreement as quickly and efficiently as possible. Once an offer is made, agree on the price and terms, respond to objections and try to be responsive and flexible to legitimate concerns.

Drawing Up The Contract

Every independent home seller should have an attorney or other qualified individual to preside over all agreements. That individual will draw up the contract and manage the sale proceedings and closing. He or she might also help you set the closing date and time. You should be sure to include a list of items you want written in to the contract, including personal property that is to remain with the home (the refrigerator, microwave oven, dishwasher, etc.), or items excluded in the sale. Also remember that as the seller, you are obligated by law to disclose any material defects in your property to the purchaser. Is a Meyer and Gross Real Estate Co. agent a better choice? Selling your own home takes a lot of hard work and know-how. Making even a small mistake can spell serious trouble. By working with a Meyer and Gross Real Estate Co. agent, you gain the services of an experienced professional with training in residential sales. Not only does that free you from the time consuming tasks involved with selling your home, it gives you the added expertise to help maximize the profit from your home.

A Meyer and Gross Real Estate Co. agent can help you sell your home faster and for the best price by:

• Pricing your home accurately by conducting a Comparative Market Analysis. This research will help support the price with comparable facts and statistics
• Advertising your home in the most visible outlets in your area
• Holding open houses
• Accessing out-of-town buyers through the nationwide network of Certified Residential Specialists
• Suggesting easy ways to make your home more attractive to potential buyers
• Exploring alternative financing methods that can help relieve a potential buyer's financing concerns
• Scanning the Multiple Listing Service to locate active buyers through a special nationwide network of resources
• Acting as a third-party negotiator between you and the buyer, making sure the selling price and the buying price are optimal for both parties
• Screening prospects so you don't have to expose your family to any stranger that knocks at your door

Think of the services that Meyer and Gross Real Estate Co. provides as an investment, one that immediately pays for itself in the quick, efficient and successful sale of your home.

Is My Home Priced To Sell?

The right price eans a successful sale. Pricing your home is both an art and a science. Achieving optimal price is the result both of objective research into comparable properties and a gut feeling about your property and the current market.

The right price should

• Attract buyers
• Allow you to earn the most money possible
• Help you sell as quickly as possible

The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. And it's important to remember that, although you set the price, the buyer determines the value of the home. Try to avoid allowing your enthusiasm to impact your better judgment - overpricing is a common mistake that can cost you in the end. With that in mind, here are some reliable guides to use when pricing your home.

Factors Affecting Your Asking Price

• How quickly you need to sell
• The amount of competition in your price category and area
• The availability, flexibility and affordability of financing
• The sale prices of similar homes sold in your area during the past six months to one year

Factors That Should Not Affect Your Asking Price

• The original cost of the property - price is determined by today's market.
• Any investments you've made in improvements
• The cost to build your home today
• Emotional attachment
• The opinions of friends and neighbors

Problems That Can Arise From Overpricing

• You might help sell similar homes that are priced lower.
• Your home may stay on the market longer.
• You could lose market interest and qualified buyers.
• You might create a negative impression of the property.
• You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.
• You may have to accept less money.
• A potential buyer may face appraisal and financing problems as a result of the inflated price.

A Meyer and Gross Real Estate Co. Agent Can Help You Price Your Home Right.

With a mix of real-world experience and advanced training, a Certified Residential Specialist has the tools necessary to calculate the fair-market value of your home based on both the marketplace and personal considerations such as your must-sell date. Remember, the right price is the key to a successful sale. So work with a Certified Residential Specialist to price your home accurately the first time.

Is My Home Ready To Sell?

Giving Your Home the On-the-Market-Makeover

You work with a Meyer and Gross Real Estate Co. agent because he or she is best able to sell your home quickly and profitably. But remember, your relationship with them is a partnership. While they market your property and screen potential buyers, it's up to you to give your home a sprucing up that can go a long way towards a speedy sale.

With that in mind, here are some helpful hints gathered from our experience.

Before The Showing Begins

First Impressions are Lasting Impressions. The exterior of your home often determines how buyers will view the interior, so

• Make sure the front entrance is clean and inviting
• Paint or replace your front door if it's faded or worn
• Add some paint to shutters, trim and any other outside feature showing signs of wear

Beauty is More than Skin Deep. Buyers often see the surface condition of your home as a sign of what's underneath, so

• Keep windows and floors clean
• Replace faded wallpaper and glue any areas that have come away from the wall
• Repair worn woodwork
• Repaint scarred or dirty walls in a neutral color
• Steam clean carpeting or replace it if necessary
• Repair loose knobs, sticking doors and windows, warped cabinet drawers, broken light switches and other minor flaws
• Check and repair caulking in bathtubs and showers

Accentuate the Positive. Try to see your home with a fresh perspective and arrange each room to bring our its best attributes, including

• Open draperies and curtains to let the light in during the showing
• Remove all unnecessary clutter from your attic, basement and closets to better display spacious rooms (consider storage or a garage sale to dispose of extraneous items)
• Arrange all your rooms neatly and remove excess furniture
• Keep fresh, clean towels in the bathroom
• Use candles or air freshener to give rooms a pleasant scent

Put Your Home in the Best Light. Strategically lighting your home, even during daytime showings, can create a cozy mood and highlight positive attributes of each rooms, so

• Avoid the use of overhead lighting that makes rooms look washed out and lifeless
• Be creative and arrange lamps to help smaller rooms seem larger, and large rooms more intimate
• Use lighting to highlight the "living areas" of your home, such as a pair of chairs near a fireplace, or a table in a breakfast area
• Put the spotlight on the strengths and potential of your home
• Create the right mood and atmosphere given the room's function, color scheme, etc.
• Accent the positive aspects and unique features of each area of your home
• Define the space
• Bring the room to life

After The Showing Begins

Leave the Selling to the Professional. Buyers often feel uncomfortable in the presence of a homeowner, so

• Try not to be present during showings
• If you are home, never apologize for the appearance of your house
• Only the Certified Residential Specialist should discuss any objections and subjects such as price, terms, possession and other factors with the buyers

Keep the Disturbances Down. Potential homebuyers have a lot to take in, so minimize the distractions

• Pipe in classical, jazz or soft rock music, but keep the volume low
• If possible, turn off the ringer on your phone during showings
• Keep cats, dogs, litter boxes and feeding dishes out of the way, preferably out of the house

Create a Homey Atmosphere. Buyers try to picture themselves and their family living in your home, so:

• Create a pleasant aroma by baking cookies or bread, or placing cornmeal in a warm oven on the day of the showing
• Keep the heat or air conditioner at comfortable levels
• If you have a fireplace, light it during wintertime showings

Have Records Available.

• Even if a buyer doesn't study them, having records available can make it clear you are conscientious and have nothing to hide
• Have copies of your gas, electric and water bill from the last 12 months available

Be ready to show all home improvement and repair bills

There are many things to consider when selling a home, and one of the most important is the financial impact the sale will have on your finances and family. Let's move on to Step 2 where you can use calculators get a better idea of how selling your house will affect you financially.

Code of Ethics and Standards of Practice

Effective January 1, 2003

Where the word REALTORS® is used in this Code and Preamble, it shall be deemed to include REALTOR-ASSOCIATE®s.

While the Code of Ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.

Preamble

Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. REALTORS® should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.

Such interests impose obligations beyond those of ordinary commerce. They impose grave social responsibility and a patriotic duty to which REALTORS® should dedicate themselves, and for which they should be diligent in preparing themselves. REALTORS®, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow REALTORS® a common responsibility for its integrity and honor.

In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession. REALTORS® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of REALTORS®. (Amended 1/00)

Realizing that cooperation with other real estate professionals promotes the best interests of those who utilize their services, REALTORS® urge exclusive representation of clients; do not attempt to gain any unfair advantage over their competitors; and they refrain from making unsolicited comments about other practitioners. In instances where their opinion is sought, or where REALTORS® believe that comment is necessary, their opinion is offered in an objective, professional manner, uninfluenced by any personal motivation or potential advantage or gain.

The term REALTOR® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.

In the interpretation of this obligation, REALTORS® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, "Whatsoever ye would that others should do to you, do ye even so to them."

Accepting this standard as their own, REALTORS® pledge to observe its spirit in all of their activities and to conduct their business in accordance with the tenets set forth below. The Standards of Practice have been taken out for simplicity.

The full Code of Ethics with "Standards of Practice" can be seen at:

http://www.realtor.org/realtororg.nsf/pages/narcode

Duties to Clients and Customers

Duties to the Public

Duties to REALTORS®