Selling your house can be overwhelming. So often sellers are unsure about what to expect when selling or even where to start. The steps below outline the home selling process to help you make the right decisions when listing your home. Here is what potential home sellers should anticipate when selling.
Doing Your Research and Making a Game Plan
When selling your home, take into account how much you know about the transaction process and your availability. Choose your game plan based on your needs. You may have the experience, but not the time. Some sellers have the time to handle the process of selling, but not the experience. If you are not comfortable with negations, you will want an agent on your side. Either way, you may want to consider a flat fee listing service.
For sellers who need an agent, it is important to note that large real estate companies do not guarantee experienced and competent agents. In fact, several agents are there to gather more information and receive further training. Look at the reviews for your agent and agency. If you find an experienced traditional agent, they rarely complete more than three or four transactions a year and are motivated by quick sales. Pick a transaction-centered company with agents that complete several transactions a year when it comes time to sell.
Deciding When to Sell
To choose when to sell, find your motivation behind moving. Maybe your home no longer works with your current job or lifestyle. Whether your reasons are financial or personal, determine ideal times for your family to sell and move. Your first 2 weeks on the market are crucial, so find a timeframe that works for you and list accordingly.
Sellers want to know when the best time to sell is. If you list in the spring or summer, you attract families who have kids in school. It is a high traffic time to sell. However, if you list in the fall or winter, there are not as many properties to compete with. There are benefits and setbacks to both, so pick what accommodates your lifestyle.
Clean it up and Make Strategic Updates
Before selling your property, you will need to declutter your home. You want potential buyers to see your home at its absolute best. If you crowd your space with unneeded furniture, toys, appliances, pet items, or personal items, buyers will have a difficult time picturing it as their home.
DO NOT fluster yourself with pointless updates that offer no return. The most effective updates alter your home’s obvious imperfections. Focus on small inexpensive changes. A fresh coat of paint, landscaping, and minor kitchen updates can go a long way. Focus on small inexpensive changes.
Use Quality Pictures
Most of the time, buyers research properties on public MLS sites for their agent to show. Your pictures can be what invite or deflect your buyers. Poor quality pictures will not encourage buyers to see the property.
These days, sellers and agents can take quality pictures for a property on their own. The key is that your photos make your home look open, clean, and desirable for buyers to view. Professional pictures are not essential to pull buyers in, but you will want quality photos to show off your house.
Read more in our photo guide
Price it Right
Most agents will provide a comparative market analysis to determine a competitive price to sell your home. This analysis matches similar properties in that subdivision or area. A CMA will provide sellers with a rough estimate for their initial listing price.
You may want to sell quickly, which will impact the price of your home. Additionally, you may be in a rural area so it may take more than a CMA. You can find more information about how to price your property here.
Read more in our pricing guide
Market your Home
The MLS and all the public websites that pull from the MLS are the real estate market. Seller’s often get caught up with wasting their time on extra fluff to entice buyers. Make sure your property is prominent online, simple to show, and reasonable to buy.
Having your home on the MLS allows buyers to view it on other public websites. When you have a realtor key box and use a centralized showing service, buyer’s agents can easily access the property. If your home is worth what you have it listed at, you will receive offers. From here you and your agent should determine how the market is responding.
Read more in our marketing guide
Listen to the Market
So often sellers make the mistake of ignoring the most useful information when selling their home. Look at what the market is telling you. The number of showings and offers you receive tell you more than any CMA or showing feedback.
Every 4-6 weeks you should be updating your price accordingly. A price drop below 3% suggests that the sellers are not serious about selling their home. If buyers were willing to pay 1% less then listed price, they would have put in an offer already.
So now you have done everything above. You should be receiving offers. When deciphering which offer to accept or how to counter, it is important to have someone on your side with experience in real estate transactions.
Most agents show hundreds of homes but only close on a few. Make sure your real estate company is exceptionally knowledgeable in the transaction process.
Soon after you have an executed contract, the buyers will order a home inspection as a basis for negotiating repairs during the option period. From offer to closing, is when sellers often need the most support. Unless you are accustomed to contracts and negotiations, you will want representation throughout the transaction process.
Whether it is regarding repairs and the appraisal, effective agents concentrate their expertise during the most crucial time of selling your home. They should understand the repairs requested from the buyer and express to the buyer’s agent what you are willing to fix. Once everyone comes to an agreement, you will need to provide the appropriate documents for the title in order to close.
Read more in our transaction guide
All required documents must get to the title company in order to ensure closing. Click here for more information on what they will need. The title company will update you and your agent to make sure things are running smoothly for closing. You do not need your agent to go with you to closing. All the information you need to know is sorted out before you sign papers at closing.
Congratulations! You have sold your home! Based on what is clarified in the contract, you may need to move on the day the home closes or even in advance. If you’ve used Creekview Realty, you saved at least 3% in commissions!