11 Steps to Selling Your Home...
1. Determine your home's market value: Research the current real estate market and comparable properties in your area to get an accurate estimate of your home's value. Your agent can provide you with a comparative market analysis (CMA) to help you understand what your home is worth based on similar properties that have recently sold in your area. Your uncommon agent will provide you with a sales comparison analysis of the CMA which is much more sophisticated and provides a more accurate picture of what listing price price should be.
2. Prepare your home for sale: Make necessary repairs, declutter, clean, and stage your home to make it more attractive to potential buyers. This also involves decluttering, depersonalizing your home, and staging your home to make it more appealing to potential buyers.
3. Hire an uncommon agent: Choose a reputable real estate agent (an uncommon agent) that is qualified can help you navigate the selling process and provide valuable insights on market trends, pricing, and marketing strategies. Your uncommon agent will be able to provide you with where your home’s particular market has been and where it is headed. (If they walk in generalizations, they are not the right agent for you on market history and direction.)
4. Price your home correctly: Work with your uncommon agent to set a competitive price that reflects the current market conditions and your home's value. Based on your home's value, you and your agent will determine a price that is both competitive and realistic. You as the seller are ultimately in the driver seat on price. A reputable real estate agent is going to insist on pricing your home in accordance with the market and require you to sign off any deviations from that number (that is what your uncommon agent is going to do). Remember, market value is defined generally is what a willing seller will sell for and willing buyer will pay for the home regardless of emotions in the deal.
5. List your home: Your uncommon agent will list your home on the multiple listing service (MLS) and other online platforms to attract potential buyers. Your agent will have created a marketing plan that includes social media, promotional materials, and scheduling open houses if the market and location are conducive. Your uncommon agent will also have a specific day and reason in mind for the best day to go to market it is. There is a day and there is a reason!
6. Show your home: Schedule open houses and private showings to allow interested buyers to see your home. Potential buyers will visit your home to get a better sense of the property, so it's important to keep it clean and tidy while smelling good. This will not be time to fix any smelly foods, forget to clean out the litter box, or leave gym clothes unwashed for extended periods. At the same time, you may have to stop, tidy, and run more than a couple of times. Your uncommon agent is going to want to obtain as many showings as possible upfront so to shorten the time you are inconvenienced. Declining or cancel a showing is a no-no here. People generally won’t buy what they can’t see when it comes to homes. Also, you have to leave for the showings. Buyers never feel comfortable with someone staying in the home or learking about. Give them the space, remember – you’ve got what they want, they just have to realize it.
7. Receive offers: Your uncommon agent will present any and offers to you and help you negotiate the best possible terms until you say STOP! And this should go all the way till closing. Of course, no agent has perfectly predict the time that it will take to find the perfect buyer for your home. Your agent should work tirelessly to make your property as attractive as possible to attract an offer. However, if in the last step you weren’t too agreeable, it’s going to take longer to receive the right offer. Most offers need or require some level of negotiation. No worries, your real estate agent will have your back and will work with you and negotiate on your behalf.
8. Accept an offer: Once you've accepted an offer, the buyer will typically schedule a home inspection to ensure there are no major issues with the property. It is during this time period that the parties work to negotiate out a deal that is agreeable to both parties.
9. Under Contract: Once you and the buyer have agreed on the terms, you will sign a contract to sell your home. While under contract you can continue to show the property and secure a backup offer if you want. Options are nice, while means more times having to leave for the showing. During this time, your uncommon agent will stay in contact with the buyer’s agent as the buyer will likely request inspections and appraisals to ensure the property is in good condition and that the price is fair. You will have the opportunity to negotiate on those repairs (if any) and financing will be formalized before ding ding ding…
10. Close the sale: You, your uncommon agent, the buyer's agent, buyer, and lender will work with the title company to finalize the sale. The transfer ownership of the property will happen on the agreed-upon closing date and you will have far less papers to sign for selling your home than you did when you purchased it originally (especially if financing was involved).
11. Move out: Once the sale is complete, you'll need to be moved out of your home by closing and turn over the keys to the new owner or in accordance to a seller’s temporary residential lease agreement should you need some extra time.
If you have questions, we are here to answer them. Reach out to us. We love questions!
