How do I decide if it is the time to sell?

This really has to do with some soul searching.  Here are some considerations:

What are your goals?

  • Moving-up and on-buying another property
  • Distress / Getting out of the real estate market
  • Investment in other properties
  • Tax strategies / Income / Seller Carry Financing / Cash out

What is going on in the market?

  • Location / Condition
  • Features
  • Rent Control Issues / Ellis Act

Selling features/opportunities

  • Fixer opportunity
  • TIC/Condominium Conversion
  • Rental Income
  • Owner Occupancy

Appropriate list price

  • Comparable Sales Data
  • Neighborhood activity / Competition
  • Market strategy/taking Advantage of the first 2 weeks/price reductions

Buyer profile

  • First-time Buyers
  • Move-up buyers
  • Investors / 1031 Sales

The sale process

  • Commissions / Real Estate Services Provided
  • Disclosure / Mandated Compliance
  • Pre-sale inspections

Preparing the property for sale

  • Making your property available and presentable
  • Improvements to increase the likely sales price
  • Working with Tenants

The Marketing process 

  • Multiple Listing Service
  • Open houses / Brokers / Public / Lock box
  • Advertising / Newspapers / Personal web address / Statement Distribution