Selling a home can be even more stressful than buying a home. There are seasonal and market considerations that play into the time and price of your sale. There’s also the challenge of marketing and making your home more desirable.
Here’s what to expect during the sales process:
Preparing to sell
Depending on the state of your home, you may need to start the preparation process weeks or months before you actually list the property. From a broad standpoint, you need to make sure your home is desirable for potential buyers. It’s important to time these improvements with popular buying times. The marketplace tends to be more active during the summer and spring. Markets fluctuate throughout the year, so keep an eye on the market until you are comfortable listing.
Find a Realtor
The real estate market is a complicated place, so it makes sense to work with someone who is well versed and prepared for the process. A realtor can help keep expectations in check, as it’s easy to become emotionally attached to your home and overvalue it. Ask potential agents about their marketing methods and take this into consideration. Work with a realtor who is familiar with your area for additional insights into the local market.
Set a List Price
There are several factors to consider when establishing a list price for your home. Your dedicated realtor will take a look at other comparable homes in the area, then price your home accordingly. While it may be tempting to list it at a high price, just to see if you can actually sell it for that price, refrain from doing so. This can lead to selling for a lower price than if you priced correctly from the beginning. If you have a need to sell the house quickly, share this with your realtor, so they can price the home with that goal in mind.
Market Your Home
You should be familiar with your realtor’s marketing plan, so you can assist in any way possible. Make sure your home is in top condition the moment you list it. Your realtor is responsible for listing your home in the multiple listing system, taking great pictures, reaching out to other agents, and direct mailing if necessary. Your job is to maintain the cleanliness of your home and make your home available for buyers.
Negotiating and Settling Offers
This may be the most difficult part about selling your home. Once you receive an offer, you need to evaluate the price and term with your realtor.
Ideally, you would receive a full price offer with the terms that you requested, but this is not always the case. Additionally, your realtor will need to evaluate the pre-approval letter in order to ensure that the buyer can actually fulfill the terms of the offer. With these factors in mind, you will decide whether to accept the offer or to continue the negotiation process with a counter offer.
Begin the Moving Process
Cleaning and decluttering will help make the moving process easier. Start early. Once you accept an offer and move into escrow, there will be less to do.