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Selling a home can often be a stressful or daunting experience unless conducted with a professional knowledgeable of the industry, process, area, and necessary steps. We have broken down the process into eight necessary steps, which are outlined below.
The first thing people think of when wanting to sell their home is finding an agent and listing their house. While this is a very important cog in the process, there are a few things home sellers should do before moving to that step:
The very first thing potential home sellers should do is decide a timeframe that will work to meet their selling goals. The timeframe of a seller often contributes to the price that they will need to list the home for (the shorter the timeframe, the lower the price).
An important factor for determining the ultimate price and timeline for selling your home is your financial situation and the budget you set. Every homeowner should have a financial plan when it comes to selling their home.
Home sellers will need their mortgage, insurance, survey, square footage sketch, and title on hand to facilitate the sale of their home.
The next step to selling your home is finding an experienced real estate professional to help you get the most for your home. Given your time is valuable, using professional representation can add significant value to your home selling process. Our agents will provide helpful advice to make your home look great, command multiple offers, and sell quickly. Our agents are trained and experienced to ensure your closing process runs smoothly. Our agents represent some of the best professionals in the residential space and we invite you to learn more about them below.Find an Agent
The list price you set for your home will be a very important factor in determining not only how much your home sells for, but also how long your home will stay on the market. It is very important to consult with your real estate professional recent sales in your area when determining the optimal price point for your home. There are many factors that determine how much you will get for your home including market conditions, home competition, interest rates, physical condition, and the home’s location/qualities.Price My Home
Many people believe that the work stops when the house is listed for sale, but preparing your home for potential buyers to see is a must if you want to get the most for your home. Preparing your home for sale can often be a daunting task depending on the physical condition, placement of furniture, and attention to detail kept in the home. Given a tour of your home is often the first and/or last impression of your home, attention to detail is important. Preparing your home involves repairing and replacing necessary items, cleaning and organizing, then staging your home in a professional manner before capturing it via professional photographer.
Furniture removal can be challenging as many sellers love pieces in their homes. Importantly, it is time to appeal to the masses, which means creating more space in the home for better flow and allowing a future owner to envision the space. A professional agent may suggest removing bulky furniture, removing excess furniture, and/or eclectic art pieces. The agent is focused on the flow of the rooms and strategic furniture placement such that a potential buyer can immediately envision their furniture in the space without distraction.
Decluttering space helps sell homes. Decluttering kitchen cabinets and simplifying bathroom countertops or garage space helps show attention to detail.
After all preparations, furniture removal, and decluttering has taken place, have your home professionally cleaned just prior to listing. Hiring a cleaning crew to make sure surfaces, floors, and windows are clean shows great attention to detail. Other small details include making sure doors do not stick and door locks latch smoothly.
Staging is one area where professional agents can differ drastically. The best way to gauge an agent’s preparations and ability to stage a home is to look at before and after photos. It is important to hire a professional agent that will command a space appropriately and draw a potential buyer’s eye to the right locations quickly.
Your agent should hire a professional photographer after the work above has been performed and the home is ready to be listed. Photos are designed to draw in the masses. The multiple listing service (MLS) system will only show one photo initially. The main photo must be inviting enough to interest a potential buyer to look at more. Taking great photos of your home is a necessary step.
Marketing your home is intended to provide as much exposure to interested parties in the market as possible. By marketing your home professionally, you are substantially increasing your chances of receiving multiple offers and selling quickly.
There are many benefits to using an experienced agent in helping to sell your home. While the below list is a sample of benefits, many local agents will provide a number of specialized services well beyond the following items. Experienced real estate professionals are able to:
Your home now looks great and photos came out nice. Now it is time to show your home to interested parties. Consider some of the below ideas to leave a lasting impression:
You spent years living in your home and many hours and money getting it ready for sale. It is time to request and review market feedback after showings. Your professional agent will likely use a showing service that enables showing agents to provide feedback directly to you. If multiple potential buyers comment about a similar item, room, distraction, or challenge, try to address or mitigate those items quickly. It is important to modify and adapt your home to continue attracting as many interested parties as quickly as possible.
If you have followed all of the steps up to this point, you are probably well on your way to a smooth real estate transaction. Receiving an offer on your home is an exciting moment. However, negotiating offers can be the most complex part of the process. Professionally negotiating your price and terms are essential if you want to maximize your return and meet all of your goals. It is important to evaluate a number of items including: the purchase price, loan amount, closing date, earnest money, option period details, title policy details, residential service contract details, potential appraisal concerns, and leaseback timeframes, just to name a few. Professional agents can drastically differ in this area, make sure to align yourself with an experienced mind capable of explaining his or her client’s positions and defending them strongly.
Negotiating offers can result in one of three situations from a seller: approving and accepting all terms, declining an offer, or submitting a counter offer (also known as declining the original offer). Your real estate professional can give you advice on how to negotiate the terms and where to be firm or open to compromise in an effort to maximize your goals.
You are nearing the finish line. You can almost taste the sale. Now the final details of the closing process remain. This is a formal process of researching title, hiring third parties, and exchanging various closing documents among the lender and title company. Your professional real estate agent will discuss everything that will be expected of you prior to the closing date.
You will be required to provide documentation such as:
Once you reach the closing date, you have reached the finish line. You will need to bring: