There are many reasons for selling your home, but whether it’s the need to relocate or simply downsizing to a different type of house, it need not be a stress-inducing process.
You can choose to sell your property on your own, but working with a real estate professional is highly recommended and will make a crucial difference when it comes to selling your home. A good real estate agent is one who utilizes effective and successful marketing strategies for selling, skills that have been honed through years of experience, and an extensive network of personal contacts, all in order to market your home to the right buyers.
Pick an agent who has a good track record of selling, knowledge of the latest marketing trends specific to your area, and access to a diverse range of technological resources. Keep in mind that your agent will not only be your guide, but also your partner in selling your house; therefore, someone who clearly understands your goals and is genuinely concerned with the outcome of the selling process is your best choice.
Have a home inspection done as early as possible so you can identify potential problem areas of the house and determine if repairs or improvements are necessary. If repairs are needed, have them done right away, since these may cause problems later on when buyers start looking at the house and could hold up the sale.
Get Your House Ready
It’s time to spruce up your house to make it more appealing to potential buyers. First impressions are important when showing a house — keep it clean and free of clutter, give the walls a fresh coat of paint if needed, do essential repairs and tidy up the exteriors, particularly the yard and garden, in order to bolster your home’s curb appeal. If you have extra resources at your disposal, you can do some light remodeling, but if you’re not sure, always ask your agent if these upgrades are required to add value to your home. Staging your home properly with the right design and furniture elements will not only do wonders when it comes to attracting attention from buyers, but it will also maximize chances for obtaining higher offers.
The Price is Right
Setting the right price for your home can be quite a challenge, but your agent will help you come up with the best price for your property after considering the many factors involved, such as market conditions, time of the year, prices of similar homes on the market, and more. It’s important to get the pricing right, as overpricing will drive away potential buyers and you will end up lowering the price eventually.
In this information era, most homebuyers do their searches online, so your agent should be able to list your property on the most-visited real estate sites like Zillow, Trulia, and Realtor.com, as well as the various MLS and social media platforms like Facebook, Instagram, Twitter, and even home-buying discussion forums. Total market exposure is the key to reaching more interested buyers, and that includes traditional media outlets like newspapers, magazines, and trade publications. Visual appeal is a top priority for homebuyers, so your home should have excellent photographs of the exterior and interior spaces.
Reviewing and Negotiating Offers
If your home is located in a highly-desired neighborhood, you’re bound to get many offers; an offer to a high price might be tempting to accept immediately, but wait for other offers to come in. Invest the time to review each offer you receive very carefully, no matter what the price. Take note of things like the buyer’s finances, contingencies being requested, and other factors. Keep in mind that this is a negotiation; your agent will assist you in evaluating each offer and advise you on what to do, like making counteroffers if necessary, and ultimately guide you in making the right choice.
When you’ve accepted an offer and have signed the purchase agreement with the buyer, you’re in the escrow phase. You’ll have to meet certain contingencies in this step, like home inspections and facilitating an appraisal by the buyer’s lender. Be prepared to make repairs and renegotiations; remember that your agent will represent your best interests, so you should listen to their advice and proposed solutions.
When all contingencies and conditions have been met, and the buyer’s financing has been processed, it’s time to close the deal. After you and the buyer sign the required documents, the deed will be turned over to the buyer, along with the keys to your former property.
Congratulations on making a sale!