Agent & Price
When considering selling your home and starting a new chapter in your life is exciting. Some people might consider to sell their home theirselves, make sure you are prepared for all the work that it entails.
If selling a home sounds daunting or you might not have the time, you should consider assist-to-sell programs which agents do offer and can include marketing strategies, yard signs, marketing flyers that are very cost effective. The number one reason why most individuals do not sell their homes themselves is because you do not have the time or do not understand all requirements to get the job done, which is not an issue, so it is advised to use a real estate agent that is fully committed to selling your property. Agents are focused on providing you with all their resources necessary to getting you the highest price possible for the sale of your property.
Do your homework, here is a list to walk you through the selling process:
- Understand your property.
Get familiar with facts about your property, property taxes, zoning laws, lot size, square footage and make sure your understand the terms of your existing loan.
- Do research of the current market that pertains to your area.
Look at comparables that are similar to what your property offers to make an educated estimate of your property worth.
- Set your price.
Once you’ve done your homework of the all comparables in your area, set a realistic price that will attract buyers.
- Discuss financing with a Lender
Get in touch with a lender to determine financing options with a prospected buyer. Make sure you are informed before you get asked a question you may not have the answer for, lack of knowledge may be a turn off to a potential buyer.
Other pieces of information to keep in mind when selling without an agent:
- Limit the exposure of your listing to interested buyers.
§ Cause your property to stay on the market too long without getting offers.
§ Force you to sell at a price below market value.
§ Leave you open to liability, if you do not take the proper precautions and have an in-depth understanding of the contracts, inspections, and procedures involved.
Here are some questions to ask yourself:
- Are you pricing your home correctly? Do you know what your home is worth?
- Can you showcase your home on the Internet with the latest technology and
marketing tools like virtual tours, panoramic pictures, and open homes?
- Can you discern who is serious about buying your home vs. just looking around?
- Are you knowledgeable about the legal, contractual, and procedural components
involved in real estate transactions?
- Do you have the time to arrange appointments and tours for the buyer?
If you are not choosing an agent, you will have to be selective in choosing a buyer, skilled in negotiating the price, inspecting it to avoid problems and gather complete information for an effective close.
Perform your own inspection
You have to look at it from the perspective of both a buyer and licensed inspector. Draw up an itemized list that will either need to be replaced or repaired. Some things to consider:
- Make sure the paint in the interior of the home are in good condition. This is one of key factors most potential buyers look at before purchasing.
- Are all the appliances in working condition?
- Make sure the electrical and plumbing are working properly.
- Is there good lighting and are all the fixtures in working order? Don’t misconceive buyers by letting them think you are hiding something.
- Does the exterior of the home need a fresh new coat of paint?
- Make sure the lawn is landscaped, well-kept and look appealing to the buyer as that is the first impression of the home.
- If it’s a condo, there is not much you can do to the exterior of the building but making sure the door or balcony are appealing.
- Are the windows and doors in working and in good condition?
- Make sure the roof is up to date and in exceptional condition.
- It’s important to trim the hedges, cut the grass and sweep up all the leaves. You want to make a great first impression.
Be familiar with your neighborhood.
Potential buyers want to know facts about the surrounding areas such as: schools, shopping areas, parks, transportation, etc. Be knowledgeable to answer any question you may come into contact with regarding the neighborhood.
Marketing can be expensive.
Be prepared to spend some money when it comes time to sell your home.
- If you are using an agency be prepared to pay a commission.
- If you are selling by owner, take under consideration advertising costs, signs and other fees.
- Agents will be able to give you a close estimate of what your closing cost fees will total at the end escrow.
- Prorated costs for your annual expenses, property taxes, and homeowner association fees.
As we all know the internet is where we see most of any product being advertised in today’s culture. When it comes to marketing your property online almost every agent has their own website where they will market everyone of their client’s listings as well as posting it on the MLS. Find local agents who will advertise your property with all their marketing techniques for a one time fee.
Developing your advertisement
When it comes to designing your ad, it’s important to come up with a few well-written sentences that will capture potential buyers within the first 15 seconds of reading the advertisement. This is an extremely important step as this is typically this first item someone will look at when they are searching for properties.
Prepare a facts about your property
Construct a document that entails all the necessary facts and features regarding your property that will catch the attention of a buyer. First impression is everything, so make sure the fact sheet that you develop is up to professional standards. If you have an agent you are working, they will most likely prepare this document on your behalf.
Purchase “For sale and Open house” signs
Contact your local brokerage or your board of realtors to purchase these items. Purchase one that is well-designed and attractive that will be seen from the street. This is an important step when trying to draw in potential buyers to see the property you are trying to sell. You can order these online where you will be able to design them yourself or purchase stock signs at your local department of real estate headquarters.
Stay organized and keep track of potential buyers
When prospective buyers come to your open houses, its important to have a notebook that documents all of the people who may seem interested in purchasing. Keep a list of their names, emails and phone numbers, that way it gives you a reference list to look at later when you have completed your open house. Make sure to follow up with either calling or sending emails to those who seem to have an interest in your property.
It’s extremely important to put your emotions aside and think logically before entering any negotiations with a potential buyer. You never want to seem to eager, so it’s important to keep a calm demeanor throughout this process.
Keep all the documents organized
There are several documents that need to be kept track of through this process. When selling your property properly, there are several forms that you will need to provide to a potential buyer. Be thorough and read through every document of the contact as there are due dates for contingencies they buyer is obligated to abide by in order to fully execute the sale of your property. These forms may be obtained from your local board of realtors association, if you have an agent representing you they will provide these documents for you.
The final stages of the sale
The buyer and yourself will need to come into and agreement, which is in writing, regarding the following information:
- Inspection Contingencies
- Financing terms
- Date of close
- Date of possession
- Have a licensed professional review all the terms of the contract to ensure all items are correct before closing
Do a final walk-through
It’s vital to schedule a final walk-through with all parties of the transaction to ensure that the property being conveyed meets all the terms agreed upon in the the agreement.
Congrats! You sold your home!
Now that you have finally sold your home, you are now the going to be the new “buyer” for a new property. If you would like to see what process entails please check our buying landing page for more information.
Search homes that are pending and just sold in your area.
Whats your home worth
Maybe you don’t necessarily interested in selling your house and just want to get an idea of what it’s worth. There are plenty of reasons to find out what your investment is worth and this tool will be able to calculate that information for you.