In any market, selling a home is an intricate and often times emotional process. However, with careful planning and the right lineup of experts on your side, you can progress methodically and confidently through the many stages of selling your home in a way that honors your timeframe and financial goals. Read on for a basic road map of what you can expect when making this important transition. Enjoy the journey!
There are many factors that come into play when deciding the best time to sell your home. A licensed real estate agent can show you the precise current market conditions in your area, from the listing count, to the number of traditional sales, distressed sales and new home sales in your area, as well as builder permits and inventory supply data. Examining how this information fits in with your unique timeline, financial goals and your property equity will help you answer the question, "Is now the right time for me to sell?"
Once you have decided that you are ready to sell, carefully selecting a brokerage and an agent will save you time, money and hassle. This is the time to ask a lot of questions. Your friends, family and neighbors are a great source for referrals. Finding an agent that specializes in your area with experience listing and selling homes in your price range is important. A real estate professional that belongs to a reputable brokerage and local board, and can readily share with you their business plan, mission statement, client testimonials and marketing plan, along with a detailed comparative market analysis and complete property profile is one who has done their homework and is well-equipped with experience and knowledge.
Pricing your home correctly is a decision that you and your agent will make together, after carefully considering all of the factors. After gathering information about your unique situation and financial goals, current market conditions, your home‚Äôs key features and assets including area amenities, schools and projected improvements the right price point will become clear. Pricing your home correctly is the key to attracting potential buyers to view your home, while making sure your financial interests and timeframe are supported.
Even in a low-inventory market, would-be buyers can end up viewing dozens of homes, many times all in the same day. How will your home stand out? Making the right first impression, whether in photos posted online or during an in-person viewing, is crucial. Your agent can make recommendations about maximizing your home’s living space, enhancing natural lighting and utilizing your homes’ décor to highlight the best aspects of your home.
Once your home is ready to be shown at its best, it is important to give your home the most exposure possible. The key is to use multiple channels to advertise your home, utilizing the power of a strong network while your home is “coming soon” to the market, then engaging the full power of online listing data, along with word-of-mouth, online & print advertising and social media to give your home local, regional, national and global reach. The right real estate professional will provide you with a customized marketing plan that works to target qualified home buyers.
Most offers on your home will be made in the form of a written contract complete with a timeframe for responding to the offer. All offers for your property will generally first be presented to your real estate professional, who will then present all offers to you for consideration. Your real estate agent will provide an objective, non-emotional point of view when it comes to evaluating, accepting, countering or rejecting any offer.
If you receive an offer that falls short of your wants and needs, you may choose to counter back and negotiate the offer. Your agent will help you evaluate the quality of the offer, negotiate the terms and ensure a smooth transaction if all parties come to an agreement. Requesting information about the buyer’s background, intentions and qualifications and ensure that the buyer is knowledgeable about available financing alternatives are some of the steps your agent can take. Thoroughly reviewing the contract and ensuring that you understand all of the details will help you determine if you want to respond with a counter offer.
You are in escrow... now what? Your real estate professional will help keep your transaction on track during the escrow process. Preparing a timeline, managing all files, paperwork, disclosures, and staying in constant communication with you, the buyer’s agent, title officers and mortgage professionals will keep your transaction on a smooth course. The home inspection process, pest inspection, appraisal and closing schedules will all be put into motion to eliminate any surprises along the way.
Congratulations! You have made it from the negotiation table to the closing table. Your real estate professional will help guide you through the final phases of the transaction by staying on top of the finishing details such as closing documents, loan documents, funding information, final recordation, delivering the keys and orchestrating move details.