How to Make the Most From Your Home Sale
By Gina Dostler
Dave Csira earned the personal congratulations of the late Steve Jobs for his top sales of MacIntosh computers during two decades in technology. Today, Csira applies those sales skills to real estate and steers sellers out of costly pitfalls by offering how-to-sell workshops.
Q: How can someone sell their home faster and for more money?
A: I’ve been in this business since 2006. Since then I’ve been through hundreds of transactions. What I’ve seen is that so many people leave so much money on the table when they sell their home. Why? Because they don’t have a home show its best or neglect to fix some obvious flaw that the buyer later wants $10,000 to repair. What happens is the seller ends up reducing the price, giving a big credit or the sale tanks. But the flaw could have been fixed at the beginning for a fraction of the cost.
Q: For example?
A: Get a terminate inspection right up front. Every house eventually has termites, which lead to dry-rot. If you get that done in advance, you avoid the inspector’s assessment labeling the dry-rot a fungal infestation, which translates to everyone as mold. Then the buyers ask for a mold inspection, which means more money spent. In the meantime the buyer starts to think twice about one of the biggest purchases they will probably ever make. Though the seller cannot back out of the deal once it is signed, the buyer can back out during the contingency period. Given any excuse, the buyer might just decide they don’t want the house.
Q: In your free seminar you mention a seller signs 97 times.
A: I have a binder with all the contracts printed that are available to realtors. It’s a five-inch thick binder. And yes, in a typical sale, the seller does sign around 97 times. For instance there are agency disclosure forms, multiple-buyer forms, seller disclosure forms, transfer disclosure contracts, and many more. That is 70 to 80 pages needed to be read. Has your realtor read every page? I have and know all the spots that have potential for problems down the line.
Q: What types of problem?
A: DocuSign is an online application to send contracts electronically for signature to accept the terms. So in 10 seconds you can sign 20 times and it is legally binding. Within the contracts are all the important time frames such as completing inspections or getting a loan. And in one click of a button you might have just agreed to something you might not truly be aware of. You just might have given the buyer 45 days to shop for a loan. If no loan is available with the terms stated in the contract, the buyer can back out. That just put the home off the market for 1 ½ months. There are many other areas to be aware of, as well.
Q: Which are?
A: Let’s say you have a crystal chandelier that belonged to your great-grandmother hanging from the ceiling. You tell the realtor it doesn’t come with the house. But if it isn’t explicitly excluded in the purchase contract and you sign it, it’s part of the house and you have to leave it behind. Anything attached to the home stays. Small details such as the example of the chandelier can prove to be costly and cause a lot of emotional upsets.
Q: How did you go from being a tech firm COO with 15,000 employees to selling real estate?
A: We sold the company in 2000 to Siemens. I took my package and then worked as a hired-gun for venture capital firms where I traveled everyday during the dot.com craze. I worked for four or five different companies over a period of about five years. Afterwards, I really wasn’t sure what I wanted to do even though I had plenty of job offers. I had kids from a previous marriage so didn’t want to move out of town. I had remarried and my new wife suggested real estate. This was in 2006 just before the market tanked. But I found a niche in short sales. When I processed my first one in 2006, it was one of only nine in the country to get approved that month. It was the type of thing I knew I could learn, saw an opportunity and soon became an expert.
Q: Name one more tip for our readers.
A: Over pricing. Statistics show if a home is over priced it is sold for less than if it was listed at the right price. Why? This gives a negative perception that the seller is unreasonable and people just are not going to submit to 20% under the asking price. What is even more interesting is if the house shows well and if it is priced at the right market value, it tends to get multiple offers, which of course is great for the seller.
Q: When is your next seminar?
A: Thursday, May 14, 7 to 9 p.m. and Saturday, May 16, 10 a.m. to noon, Surterre Properties, 33522 Niguel Road, Monarch Beach, in the upstairs conference room.
Dave Csira
Surterre Properties
33522 Niguel Road
Monarch Beach, CA 92629
949.500.3283
www.CsiraGroup.com
