Your satisfaction and happiness is something that is very important to me. I understand how hectic it is to sell a house and it can be difficult if it’s not handled properly. To help you through the entire process, I’ve put together five simple steps:
Step 1: Decide to Sell
Are you wondering what you can do to sell your home quickly without spending a lot of money in home renovations? All you may need is some practical advice on how to showcase your home to attract potential buyers. A buyer usually makes a decision within five seconds of entering your home whether or not they want this to be their home and for this reason, it is important to encourage buyers to visualize themselves living there..
When you sell, you want to get as much value as you can for your home. So you might want to consider the timing of the sale because it definitely has an effect on the value. You don’t want to sell when it’s a “buyer’s market,” when too many homes are for sale and there are not enough buyers. Other market conditions such as interest rates, the state of the economy and the local job market will all have an influence on the selling price of your home. Seasonality is something to consider as well because typically more homes are sold in the spring rather than the winter.
You can also increase the value by enhancing the appeal of your house. There are various ways to do this and it all depends on the amount of monetary resources available. You can renovate your house by remodeling an area or just freshen up the walls with a new coat of paint. If your home is cluttered, outdated, or is not selling, you may want to hire a professional home stager who can make your home more attractive to buyers.
Even just keeping your front lawn tidy can make a big difference. Buyers love seeing green grass and flowers outside because it feels more warm and inviting to them.
Home inspections are also something that you can do to prove the value of your home. Buyers will usually ask for a home inspection, so if you do it ahead of time it will definitely impress them. It also gives you a chance to prevent unpleasant surprises and make any major repairs.
Now you’re ready for the for sale sign!
Step 2: Hire an Agent
There are thousands of real estate agents, so how do you chose one that’s right for you?
You have to pick carefully. They will be acting as your representative and you will need someone to look out for your best interests. You will need someone that you can trust and someone who understands what you want. It is standard practice for a seller to ask real estate agents to visit and evaluate their home. Ask for a comparative market analysis showing the selling prices of similar homes in the neighborhood, those currently "for sale" and those that didn't sell. A CMA can provide you with a realistic price estimate of your home. Some agents may under-value your home in the hopes of creating demand whilst others may flatter you with over-inflated estimates in order to get your business but then suggest a price reduction later on in the process... so be aware....pricing it right is important!
You can also conduct your own market research by visiting open houses in your area. Use this opportunity to compare your home to "the competition" in terms of price, location, size and amenities. Once you have visited several homes you should be able to make an educated guess as to the market value of different aspects of your own home at the same time as providing you with decoration / renovation ideas which may be profitable to you.
The agent that you choose should be a trained professional who knows your area inside out. A great agent is someone who offers you quality services to help you accomplish your goal.
Step 3: List your Home
Deciding what price tag to put on your home is never easy and is often the determining factor for potential buyers. Although buyers will be taking other factors such as location, layout and amenities into consideration, the price is usually the bottom line.
Now that you’ve found the perfect real estate agent, they will list your home. First they will guide you on establishing a value on your house and set a price. A report on market data will be complied to properly value your home based on the prices in your area.
Once they’ve done that the agent will market your home through various media outlets and listing sites to create strong buyer interest. They can post on Multiple Listing Service (MLS), newspaper ads, social media, blogs, and websites.
There will be open house appointments as well to showcase the potential of your home to various individuals. At this point, Realtors may also suggest to stage the home to help these individuals imagine themselves living in your house.
Step 4: Receive an Offer
Not all offers are equal and that’s where your real estate agent comes in. They will help you get to know the terms and conditions regarding the price that the buyer wants to pay, financing conditions, or other things like inclusions and exclusions that the buyer wants to make. Most buyers will make an offer lower than the listed price in a bid to see how low you will go. However, those who have researched the market will be willing to meet you near your terms.
Not only is it about the price of the home, but you have to carefully look at the other details included in the sale. Appliances, chandeliers, or even minor renovations can also be part of the deal. Shorter or longer closing dates can also be specified by the buyer.
If there is something in the offer that doesn’t satisfy you, counter offers or negotiations can also be presented to help get you what you want.
Step 5: Close the Sale
There will be closing costs associated with the sale that need to be paid either by or on the closing date. It can include mortgage application fees, inspections, and legal fees. But once that’s taken care of, you can pass your old keys to the new owners. Congrats!
You’ve officially sold your house!