The Selling Process
First things first….. If you’re in the market to sell, it’s probably time to clean house. One of the most effective tools to getting your home sold is good old fashioned elbow grease. The nicer your home looks, the more money you will make, and at a faster rate. So get out the paint brush, vacuum, and duster because it is time to get to work!
Finding the Right Agent
A Real Estate Professional’s job is to represent your best interest through the selling process. The agent will help navigate you through the process, listen to your needs and wants, communicate effectively during the transaction, and level clear expectations for the process. They need to be experts in marketing, negotiations, real estate documents, financing, and technology. CLICK HERE TO LEARN MORE ABOUT US!
An accurate price point is the most important part of getting your home sold, and for the highest return and lowest amount of time. There are a lot of myths surrounding home prices. What you paid for your home, what your neighbors say, what you need to make, what you want, or the cost to rebuild today do not determine what your house is worth. Your house is worth what someone else is willing to pay for it. The best way to determine this is by looking at recently sold homes within a given distance from your home that are similar (Square footage, beds, baths and lot size all matter). You also want to look at what is currently on the market and what condition your home is in. The more upgrades (pool, new kitchen, flooring, etc.) the more you will get in return. After taking in all this information, the agent will do a comparable market analysis and come up with a price range. The price of your home is your choice, but pricing it correctly will determine the success or failure of your home sale.
Getting the Home Ready
Studies show that a home buyer makes a decision on a home in the first nine seconds of seeing it. First impressions are key when selling a home, and you only get one chance to make a great first impression. Fresh paint, clean home, tidy, flowers, and Febreze go a long way in making your home ready to sell. Your goal is to let the buyers picture your home as theirs. Your real estate professional will give you more tips and tricks to make your home feel like the buyers’ new home right when they walk in. Make sure to do everything in your power to get the home ready for sale. The more you do now, the faster you will start to receive offers.
Your real estate professional will create a plan to market your home. According to NAR (National Association of Realtors), 89% of home buyers use the internet to find the homes they are interested in. This marketing plan should include focused online activities, in addition to print advertising and open houses. Working out a plan of attack is vital to your selling success.
Showing Your Home
Being as flexible as possible to showing your home in the home selling process is critical. Potential buyers will want to view the home at all different times of the day, even weekends and sometimes holidays. The potential buyer may work uncommon hours and only be available to view your home during certain times. The more flexible you are, the more showings you will have. The more showings you have, the more offers you receive!
Once your real estate professional receives an offer on your property they will sit down and review it with you. They will explain what the buyer is requesting and how much they are offering on your property. You will have three choices to make. First, you can accept the offer as is. Second, you can decline the offer. And finally, you can make a counter offer. Once you come to an agreement, you enter into a legal contract.
Once the offer is accepted, your real estate professional will open escrow with an agreed upon escrow company. Escrow acts as a third party to ensure all parts of the contract are completed. Escrows usually take anywhere from 30-60 days, depending on the lending requirements and what works best for the buyer and seller.
Let the Buyer Inspect the Home
Once you are in contract with a buyer, they may request for a professional home inspector to view the home. The home inspector will check items such as the plumbing, heating and cooling, roof, electrical, hot water heater, and overall structure of the home. He or she will generate a report for the buyer with any issues they may find. Following this process, the buyer may request for repairs to be completed on the home or request concessions.
Congratulations!! The process has come to an end. All the paperwork has been signed and the house has been officially recorded to the new buyer in the county office. It is time to take the family to dinner and celebrate!