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After deciding that you’re ready to sell your home, there are often dozens of questions running through your mind at once. Do I need an agent? How will I price my home? How long will it take to sell?
Luckily, Red Post Realty has the answers to all of your questions (phew!). Be sure to keep reading to learn all of the designated steps to selling your home. Soon you’ll find yourself sitting at the closing table wondering why you were ever so worried in the first place.
1.) Choose a Listing Agent
The first step you want to take after deciding you’re going to sell your home is to find a listing agent to represent you. It’s best to work with an agent who has the knowledge, expertise, and communication skills to guide you through the listing process and lead you to a hassle-free closing.
Once you’ve found someone you’d like to represent you - you’ll sign an executed listing agreement and be on your way! Wondering what an executed listing agreement is? Basically, it’s a document giving a real estate broker the authority to act as your agent in the sale of your home.
From here on out, your listing agent will act as your liaison between you and all other parties. They’ll be there to answer all of your questions, prepare your home before it hits the market, and complete all of the heavy-lifting needed to get your home sold quickly and as close to the asking price as possible.
As your Realtor®, your listing agent’s main priority is their client (that’s you), so make sure you choose someone you feel comfortable with. They understand how stressful selling your property can be, and will work around the clock to make sure the process is completed in a seamless and efficient manner.
Trust us when we say, working with the right agent makes all the difference!
2.) Determine How Much Your House Is Worth
Now that you’ve chosen your Realtor®, the next step to take into consideration is determining how much your home is worth. Your listing agent will help guide you to the best asking price by running a Comparative Market Analysis (CMA) on your home. Simply put, a CMA looks at similar properties in the area and how much they have sold for in the past, which helps in determining the right price to list at.
Additional factors to consider when pricing your home include:
-Number of bedrooms and bathrooms
It’s important to price your home fairly, yet competitively, with other homes on the market. One of the biggest mistake many sellers have made is overpricing their home, resulting in less interest in your property and inhibiting a successful sale from taking place.
Overpricing or underpricing your home could cost you both time and money, so it’s crucial to watch the market, think about what features your home includes, and come up with an educated and fair price point.
3.) Get Your Home Ready to List
Once you’ve determined how much you’re going to list your home for, it’s time to prepare your home for the public eye! Your listing agent will want professional pictures taken of your property, (don’t settle for cellphone pictures; we’re begging you) which means it’s time for some spring cleaning - no matter the season!
Make sure to clean, declutter, and organize your home in a way that highlights its best features. If you’re interested in going above and beyond you can always hire a professional to stage your home, but it isn’t necessary.
Simple steps to remember when setting up your home include:
-Make any necessary repairs to appliances/features that are outdated.
-Organize your home in a way that makes the rooms appear spacious.
-Declutter and move any extra “stuff” to storage.
-Focus on the curb appeal of your home.
-Make sure everything is squeaky clean!
Remember, you only get one chance at a first impression, so presentation is key!
4.) Put Your Home On The Market
After making sure your home is in tip-top shape, you’re ready to list! Once your home has been listed in the MLS (multiple listings service), your agent will begin scheduling showings and open houses. This will allow interested buyers to come view the property and determine if they can imagine themselves living there.
Your agent will know the best days and times for maximum exposure to your home, as well as having a personalized marketing plan set in stone. This could include flyers, mailers, drone footage (if you a lot of land), and social media posting. The more involved they are in marketing your home, the better!
Now that your home is on the market, let all of your hard work pay off! Sit back, relax, and let the right buyers find you. We promise, they’ll come!
5.) Get Ready To Negotiate On The Price.
If all goes according to plan and your home is correctly priced, it will only be a matter of time before you begin to receive offers. This is where the negotiation skills of your agent comes into play.
Often times, offers you receive will be lower than your asking price, or buyers may ask you to make corrections to areas of the home they aren’t entirely happy with. Make it clear to your listing agent what you want and whether or not you’re willing to settle on a lower price. From there, your agent will negotiate with the buyers to come to a final price that both parties will be happy with.
By determining what you will and won’t settle for before the negotiation process begins, you eliminate the possibility of disappointment with the final selling price.
To help you better understand this step, it’s important to know what escrow is. According to The Balance
, “escrow is an arrangement where you use a ‘third party’ (somebody who is neither the buyer or seller) to hold something of value. That third party helps to make the transaction safer by ensuring that both the buyer and seller meet their obligations.”
7.) Schedule and Complete the Home Inspection
Before you can successfully close on your home, you will need to have a home inspection, which often times will include the buyer. Normally, this will take place close to the closing date to ensure there are no underlying issues with your property. The inspector will look at structural elements such as walls, ceilings, roof and foundation, as well as performing an evaluation of the exterior of your home on elements such as drainage and elevation.
After the inspection the buyer may ask for repairs to be made to your home. Although you aren’t obligated to fix the repairs, not doing so may result in the buyers backing out of purchasing your home.
Think back to the price negotiation phase. Consider whether any requests for repairs are reasonable based on the condition of the home and the agreed upon price. Be sure to think wisely before making your decision!
8.) Complete the Closing Documents
Once the home inspection is completed, and if the buyers are still happy with the house, it is time to complete the closing documents. This is when you transfer the title of the house to the new owners with a lawyer or a notary.
At this time, you will receive the funds from the sale, and set a possession date, which is when the agent delivers the keys of the home to the new owners. And just like that, you’ve sold your home!
The entire process typically takes about 6 weeks, depending on the results of the inspection, of course. With the right real estate agent by your side, the time will fly by, and you’ll be signing off on the sale of your home.
Are you ready to take the leap and sell your home? Be sure to get in touch with a Red Post Realty agent today!
We promise the process isn’t as scary as you think!