Step 1: Decide to Sell
When you sell, you want to get as much value for your home as you can. To do so, we’ve listed some factors for you to consider to help increase the value of your home:
Timing: You don’t want to sell when it’s a “buyer’s market,” since this means that there are not enough buyers due to the large supply of homes in the market.
Seasonality: Typically, forecast trends show that more homes are sold in the spring rather than the winter.
Appeal: how buyers perceive your home determines whether they decide to purchase or not. Increasing appeal can be done through renovations of your house such as applying new coats of paint, remodeling an area or even just keeping your front lawn tidy and
Home inspections: Buyers will usually ask for a home inspection, so if you do it ahead of time it will impress them! This also gives you a chance to prevent unpleasant surprises and make any major repairs.
Step 2: Hire an Agent
Out of the thousands of real estate agents available, how do you choose the one right for you? A good agent acts as your representative, looking after your best interests and offering quality services to help you accomplish your goal. We’ve included a few ways to help you find your perfect Realtor:
Jot down some names and numbers that you find on “For Sale” signs
Ask friends and family for a recommendation
Visit one of the local offices in your area
Ask agents you meet questions to gauge their level of professionalism and knowledge of your area
Step 3: List your Home
Now that you’ve found the perfect real estate agent, they will list your home to garner an offer.
First, they will value your house and set a price. A report on market data is compiled to properly value your home based on the prices in your area.
Then, they will market your home through various media outlets and listing sites to create strong buyer interest. They can post on Multiple Listing Services (MLS), social media, blogs, and websites.
After, there will be open house appointments to showcase the potential of your home to various individuals. At this point, Realtors may also suggest staging the home to help these individuals imagine themselves living in your house.
Step 4: Receive an Offer
Not all offers are equal which is where your real estate agent comes in. They will help you understand the terms and conditions regarding the price, financing conditions, or inclusions and exclusions that the buyer wants to make. They will also help you look at the other details included in the sale such as shorter/longer closing dates, appliances and/or renovations. If the offer doesn’t satisfy you, counteroffers or negotiations can be made to help get you what you want.
Step 5: Close the Sale
There are closing costs associated with finalizing the sale that needs to be paid either by or on the closing date before getting your new house. These can include mortgage application fees, inspections, legal fees, etc. Once they are taken care of, congrats, and welcome to your new home! You’re all ready to move in!