Step By Step Guide To Listing Your Home For Sale
Putting up your home for sale is not an easy process, ask anybody who has ever sold a home. A long, draining process that often makes for some harrowing modern-day war stories.
If you ask me, I can tell, because I have seen people have done some outrageously ‘Crazy’ things to sell their home fast.
Did you hear about that innkeeper in Maine, USA? Janice Sage hosted an essay contest with a $125 entry fee with the prize as the ownership of her Inn. Sure enough, entries poured in; all 7,000 of them. Finally, she netted more than USD 906,000, which was roughly the value of her Inn. Talk about the fastest way to sell a house! She even inspired many other sellers to host their own contests.
Nonetheless, I am definitely not suggesting you go ahead and do that. Instead, I want to give you a broad blueprint that can get you from “I think we should sell our home” to “Great! Look at all the offers pouring in”.
Whether or not the housing market is hot or whether the competition in the housing market is high or low, there will always be homes for sale that get their buyers. Because let me give you a small insight into the real estate business – Real Estate business is NEED BASE or NEED TO BE DRIVEN business, there will be only one perfect right buyer for your house, and no marketer can tell you the right time when he is going to show up.
Here, I offer you Chronological Steps to make it as stress-free as possible –
Tips For Home Sellers
1. Decide On A Date -
Did someone just tell you that – “Timing plays an important role in selling your house fast and for the most money? Typically, summer and spring are the best time to sell a house while winter is a slow time for home sales.” Trust me, you have to think again about this one!!!
This, however, also varies by location and other factors, so it’s essential to research the best time to sell in your area. For example, the odds of selling fast and commanding a higher price increase when inventory is low in the area that is a SELLER’S MARKET. On the other hand, when it’s a BUYER’S MARKET, and home sales have cooled, buyers are picky and will take their time looking for the best homes for sale. So first things first, decide on a selling date. This would set the whole timeline in motion. The move could be because of a new job that takes you to a different city or your children starting school in a better school neighbourhood – it is always sensible to keep a schedule in mind.
The timeframe helps you tackle all the tasks in a more systematic and organized manner. More often than not, you will be at the receiving end of a lot of contradictory advice on when it’s the best or worst time to sell a house. For that, I have step 3 – hire the best real estate agent (more on that later)!
2. Be Prepared -
The Boy Scouts had it right all along, preparedness is the key to success.
You need to do your homework here. Foremost, appreciate the externals factors – understanding the current market and the frequency of sales in your neighbourhood. You should check out comparable properties and attend a few open houses.
This will help give you a fair understanding of the current market dynamics, a reasonable expectation of what your home will go for and what the buyers want.
Now armed with this knowledge, you can tackle the internal factors, and that is how to make your home sale-ready. Critically assess your home from an outsiders’ viewpoint and list the pros and cons of your home for sale. The next step would be to list the things that you could improve, correct or repair and make allowances in your expected home value for the things you cannot.
3. Agents’s Role -
If you want to sell your house worth the value, then pricing is one of the most crucial factor and needs to be carefully considered as well. While you obviously want to get the best deal possible, overpricing can discourage buyers. It’s a delicate balance that needs lots of thought and the expertise of a real estate agent.
To decide how much your house is worth and what you want to ask for it, you can start with getting it evaluated. You can also get your agent to run a Comparable Market Analysis (CMA), which means how much similar properties in the same area have recently sold, but finally, you must be realistic!!!
4. Preparing Your House -
The importance of working with the best real estate agents cannot be overstated. Nevertheless, what makes a real estate agent “the best”?
My primary advice would be to go with an experienced agent. To obtain the correct representation, an agent who is intimately acquainted with the experience in dealing with the clients is in a better position to assess your home for sale as it figures in the local market, alongside similar properties.
As you get ready to sell So, the next step is to choose an experienced and reputable realtor. You can start by checking online reviews to create a shortlist about real estate agents and then spend some time meeting them before you decide to sign up with one. Some things you need to keep in mind –
- Decide whether it makes sense to get a pre-inspection done.
- Prepare a checklist of all paperwork and start work on getting it all in order.
- Decide whether you need any home improvements organized and fix a budget for the same.
A right agent will give more than makeup for the cost and help you get the most money for your home. So, don’t hire just any agent, but look for someone who’s a professional and has a track record of sales that proves they know how to sell your house fast. You can simply look up an agent’s sales history. The agent’s demonstrated market knowledge, and past results can assist you in the decision to pick him/her. You can even see them in action in an open house. However, the final and the most crucial factor when the agent’s credentials check out is your comfort with them. As you would be working closely with them, you should pick an agent with whom you feel the most comfortable and can communicate easily with.
Your agents will also help you in most of the upcoming steps of selling real estate properties like marketing, setting a competitive price, communicating with the buyer’s agent, negotiating offers, preparing paperwork, etc.
6. Getting The Home Ready -
Now that you have hired an agent for your home for sale and combined his expertise with your background work, it is time to put this knowledge to work.
Getting your home ready for listing is key to sell your home. One of the real estate rules is that the buyers always seek the least expensive home in the best neighbourhood they can afford. What this translates for you is putting a home for sale that fits with the neighbourhood but is not the ‘best home on the block.’
According to a 2017 report by NAR (National Association of Realtors), the most common home improvement items agents recommended to sellers were decluttering the home (93 percent), entire home cleaning (89 percent), carpet cleaning (81 percent), and removing pets during showings (80 percent).
So, deep clean your home, undertake repairs that may have been lingering for some time, enhance your curb-appeal and de-clutter.
If you want to know more about low-cost improvement for your house, read my blog about the RENOVATING YOUR HOME – “LOW – COST IMPROVEMENTS THAT CAN HELP IN THE SELLING PROCESS.”
I would go even further and suggest hiring a storage unit to remove the extras from the homes – giving it a more significant, airier feel. I would also strongly advise going for a pre-inspection. It serves as a reality check, ensures there are no ugly surprises at the final inspection later, helps accentuate the positives and assists you in negotiations down the line. It also underlines your position as an honest seller.
Finally, staging your home before the listing is recommended as the NAR study stated that close to 40 percent of sellers’ agents stated that staging a home substantially decreased the amount of time the home is on the market.
If you want to know more about staging your house, read my blog about the staging –
“OUR COMPLETE GUIDE ON STAGING FOR ANY HOMEOWNER.”
“OUR COMPLETE GUIDE ON STAGING FOR ANY HOMEOWNER.”
5. Prepare The Listing -
It would take your listing agent anywhere between a few days to a week to bring together all the necessary information about your home. This would include, but not be limited to, the square footage, special features, and most importantly, the next step is photos.
Today’s buyers start their property search online, and pictures are the first thing that attracts their eyes on search result pages. As a result, when listing a property for sale online, photos can determine whether someone will call and make an appointment, or click on the next property listing. This is why real estate agents recommend hiring a professional who specializes in real estate photography to take high-quality photos for your listing.
It’s recommended that you have at least one or more than one-shots of every room and hallway, plus multiple exterior photos.
ON TOP OF IMAGES, CONSIDER PAYING FOR DRONE VIDEOS OR 3-D VIRTUAL TOURS TO GIVE POTENTIAL BUYERS A REALISTIC FEEL FOR THE PROPERTY AND A STRONGER FIRST IMPRESSION OF THE PROPERTY.
The same principle would apply to the interior shots. Buyers are interested in your property and not your possessions. Take many photos, it helps give a more precious idea to the buyer. Professionally produced yard signs are also a good idea.
Selling price setting is another important part. How much is the home worth can be determined by looking at the per-square-foot price of recently sold homes and making adjustments for yours based on condition and features? Your agent can provide valuable inputs on the same.
And of course, no listing is complete or has a chance of attracting potential buyers without a description of the property. While amazing photos draw buyers in, your real estate listing description should give emphasis to your home’s selling points. An excellent real estate agent will help you in writing a creative description that convinces buyers that your house is the most desirable choice.
Once your agent has it all, things generally happen very fast. These details are then uploaded onto the multiple listing service (MLS), which will allow the listing to be viewable to agents.
Now that the listing is complete, all you have do is keep decluttering, live in a perpetual state of clean and wait for the offers to pour in.