Go Local - Selling Process
What to Expect
The process of selling your house can be relatively easy if you know what to expect! We've provided you with a bit more information about the steps for selling your home.
Step 1: Selecting an Agent
Using an agent can make the process a lot easier. For Sale By Owner may seem easier at first but as many soon find out, selling your house is hard work and very time consuming! Your REALTOR® will do the majority of the work and will guide you through the steps. When those unexpected issues come up, like buyer financing problems, or negotiations, your REALTOR® will represent you to make sure it is handled correctly and efficiently.
The Right Price
Your REALTOR® will put together a marketing plan with an effective price for you. A well-priced home often generates competing offers and can work to your advantage by driving up the final sale value. The market analysis will take into account the most actively searched prices and home values throughout your area.
Pricing your home can be difficult without the proper tools. Your REALTOR® will provide you with information on recent home sales in your area and the pricing information of your competitors. Being informed will help you decide on the right price for your home. A house that is priced too low will often sell quickly leaving the seller feeling like they didn’t get all the home was worth. A house priced too high may have limited interest from buyers and could sit stagnant on the market. Eventually selling for much less than the actual market value of the home.
Pricing is extremely important. As the seller, you should be reasonable in your pricing, consider the current market, and have in mind your needs and priorities with the home sale.
Most sellers feel that they need to base the price of their home on how much homes have been selling for in their area, that is partially true. Your REALTOR® will look at historic sales trends in your area, and most importantly, they will focus attention on how your competition is currently priced . Together, we look at pricing and figure the most competitive pricing per square foot for your home. We will consistently notify you of nearby home sales and price reductions so that you will have an edge on the market. Buyers are likely to be looking at many houses within an area or neighborhood so it is important to stay competitive with your listing!
Dress it Up
In the Real Estate we call this STAGING. Basically you want your house to look appealing to a large amount prospective buyers. We all have little things that need to be done. It’s easy to be blind to some potential issues a buyer might see in your home since you live in the home every day and tend to get used to things like cluttered counters, smudges on the walls or mismatched outlet covers. Organizing closets, making minor repairs, or doing some extras to add a feeling of home to your house. Your REALTOR® will make suggestions on things from organization to minor repairs. Many aspects of staging are simple! Cleaning cobwebs off the light fixtures outside, adding mulch or moving furniture are minor fixes that can change the appearance of the space. Don’t overlook this important step. First impressions are the most important factor in selling a home!
Flooring, Home Improvement, Interior Design, Lawn Care/Landscaping
Step 2: Listing
You’ve selected a REALTOR® and now comes the fun part! Your REALTOR® will fill out a listing paperwork specifying things like square footage, the number of beds and baths, neighborhood, etc. Property disclosures will be completed, agency forms will be signed, and photos will be taken or scheduled for the home. A lockbox will be placed on a door for agents to gain access to the home. Only members of the local REALTORS® Association will have access to the lockboxes. Your REALTOR® will go over the showing restrictions, the most common way is to call the seller for verbal permission before any agent is allowed inside the home. Make sure you have an extra key for the lockbox ready. Finally, a for sale sign will be placed in the yard. The agent will sometime put eye catching riders on them if you have an appealing feature.
Step 3: Marketing/Showing
Your REALTOR® will identify some of the great selling points of your home and decide on some specific advertising words. Your listing will get various types of marketing.
The Right Exposure
We NOW get your property in front of buyers via the local MLS as well as broader ones, new listings sheets, and other real estate publications. Our nation-wide network of professional real estate contacts and buyers will also have the opportunity to view your listing. Eighty-eight percent of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001.
Effective Internet Marketing
Of course, we will also use the Internet and our innovative website to ensure your listing has optimum visibility for users on laptops or mobile devices. Ninety-two percent of buyers use the internet in some way in their home search process and 50 percent of buyers use a mobile website or application in their home search. During showings, it’s best to be absent from the home. The tours will be supervised by an agent and the buyers will most likely want to look in closets and discuss the home without having to be aware of your watchful eye.
Step 4: Offers/Contracts
So, an interested buyer looked at your listing and they liked what they saw; you now have an offer on your house! Your REALTOR® will explain the terms of the offer. Many times buyers will not offer the asking price right off the bat and more than likely, you will receive an offer for less than the asking price. You may also see that they have asked for items to remain, repairs to be made, closing cost to be paid, or specify a longer or shorter length of time to close. Your REALTOR® will answer any questions that you have and will guide you through this negotiation process as well as oversee all the paperwork. The ultimate decision is yours to make. Once the offer is accepted and both parties have signed, this becomes your contract of sale.
Step 5: Inspections
Many contracts are contingent on a home inspection. These inspections will occur usually within two weeks of the accepted offer. Your home may have a home inspection, appraisal, radon testing, termite inspection, and others as desired by the buyer. The buyer will be given a copy of the inspection report and will give you a copy if they want to negotiate some repairs depending on the inspection. Home inspections are critical - make sure to communicate any concerns with your REALTOR® before you list.
Step 6: Closing
Closings are timely events. Most contracts have a set number of days until the closing. Forty five to sixty days may seem like a long time but it is a very full and busy time! A lot happens in those few days. Often times after an inspection, you may have a list of repairs to make prior to closing. While you are busy packing or finishing up any small detail at the house, the buyer will be finalizing lending. On the day of closing you will meet with your REALTOR®, the buyer, their agent and the closing attorney to sign the biggest stack of papers you have ever seen. True story, it’s huge! You will leave, maybe a little sad to leave a great home behind, but also knowing you are off to start a new journey in life.