Are you considering selling your house? It can be a daunting and intimidating process, but with these six steps, you’ll be prepared every step of the way. Keep in mind that each situation is unique, so be sure to consult with a professional before making any decisions. Selling your house can be a satisfying and rewarding experience and following these steps will make it as smooth as possible.
Find the Best Agent
Choosing the right agent is key to a successful sale. Ask friends, family, and associates for referrals, and interview at least two agents before making your selection. Hiring a professional will ensure that the job gets done correctly and quickly.
Agents know current market conditions, can advise on a price range, and help you navigate offers, negotiations, and the closing process. They also have access to marketing tools that will allow your home to stand out from others on the market.
Communication is important when selling your home. Make sure the agent you hire will communicate with you regularly and promptly.
Price it Right
Working with your agent, determine an accurate asking price. Your agent can help you choose a listing price that will attract buyers and maximize the number of offers you receive.
Remember, pricing your home too high may result in fewer showings and frustration. Pricing it too low could leave money on the table.
When a house is listed for sale for too long, or when its price has dropped repeatedly, it’s harder to sell.
Your agent will provide you with a CMA or Comparative Market Analysis. This is a market analysis that lists recent selling prices of comparable homes in your area, along with the sale price of your home if it had been on the market for all of those previous periods.
A CMA will help you set an appropriate list price for your home. Your agent can also provide any other relevant data, such as how many days homes are staying on the market in your neighborhood, what percentage of asking price they are selling for, and what types of financing are most popular in your region.
Get Your House Ready to Sell
Fix all known problems with the house before listing it for sale. While this process may sound simple, there’s more to it than just making sure that everything is sparkling clean.
House repairs to consider include repainting, replacing the carpeting, fixing plumbing leaks or electrical problems, and taking care of any pest infestations.
Once the house is in outstanding condition, it’s time for staging. To stage a house means to give it the best possible presentation to attract buyers.
Furniture should be minimal, and accent pieces can help create an attractive display.
Showings
Your agent will assertively market your property to attract potential buyers. When someone is serious about a purchase, they’ll set an appointment with their buyer’s agent to come to take a tour. During the tour, the house should be vacant, so you (and any pets you have) should plan to be gone during showings.
The buyer’s agent will access your house key from a lockbox that your agent will put on your door. Once they’re done touring, the buyer’s agent will leave a business card on the counter, and your agent will notify you that it’s all clear to go back home.
Negotiations and Offers
When you consider offers, look at more than just the dollar value. While an offer above the list price is attractive, it may have contingencies that could be deal-breakers. For example, the buyers may not have applied for their home mortgage yet, so there’s no guarantee they’ll qualify. Or the buyers may have to sell their existing house before they can afford to purchase yours.
It’s important to remember that offers are usually negotiated before contracts are drawn up. You and your agent will look at each offer’s material terms (price, financing requirements, closing date) and discuss whether it seems reasonable.
The Closing Process
Find a rock star real estate agent to represent you in the sale of your home. With that agent’s expert advice, determine the best list price for your house.
Prepare your house for sale with any necessary repairs and proper staging. Keep the house tidy for showings and be prepared to give buyers privacy during their tours.
Ask your agent for help in reviewing and negotiating contracts, and trust your agent to help you through the closing process.
