STEP 1: DECISION TO SELL YOUR HOUSE
If you are thinking of selling, you probably have a myriad of questions:
- What’s my home worth?
- Should I use an agent or go at it alone?
- How do I make my home attractive to buyers? ….
Ideally, you want that journey to end with your property selling quickly and for the best price possible. Follow my roadmap and become an Educated Seller.
3 WAYS TO MAKE HOME SELLING EASY:
- START NOW the earlier you begin the process of selling your home, the more time you will have…and less stressful the journey will be.
- UNDERSTAND THE STEPS INVOLVED The more you know about what to expect, the less intimidating the process will be. YOU will make better decisions, too.
- TALK TO A GOOD REAL ESTATE REPRESENTATIVE Get the correct answers to your questions, determine what your home will likely sell for, what it needs to be done in order to achieve that price, and will help you EVERY step of the way.
STEP 2: WORKING WITH THE RIGHT REAL ESTATE PROFESSIONAL
Most sellers use a real estate professional. And for good reason! A skilled agent can ensure your home sells quickly; negotiate the best terms for you and for the best price, while making the entire process much easier for you.
- Pricing is a real art. It takes experience and knowledge to determine the correct price and selling strategy. Sometimes even 1% more for your home can mean thousands to your bottom line. Remember, the most important thing in all of this process is WHAT WILL YOU NET OUT from this transaction.
- Negotiation is hard. Not just to do, but it can feel uncomfortable. If you want someone to negotiate fearlessly on your behalf, you need an experienced agent.
- Marketing today is much more than MLS®. To get the most for your home, you need qualified buyers to see it. That requires an agent who knows how to create a marketing plan to get as many qualified buyers as possible to find out about and view your property.
- Showings are a pain. Showing your own home is not only a huge inconvenience to you, it’s important to know that most buyers feel uncomfortable viewing a home with the homeowner present.
- Paperwork takes expertise. If you think doing your own taxes is a challenge, try navigating the paperwork for a real estate transaction! It takes experience and expertise to make sure everything is done correctly.
WHAT TO LOOK FOR IN AN AGENT
The best agents are highly skilled, real estate experts. They are on the pulse of all local market activity and have intricate knowledge of active and past inventory. They keep you informed and are by your side every step of the way.
Great Agents are marketing geniuses. They know exactly how to set the ideal price for your property and which strategy to use, so that it sells quickly and for top dollar. They also know how to promote your listing effectively, to attract the most qualified buyers.
Great Agents are skilled negotiators. Negotiating requires expertise and skill, period. Great agents have mastered this art and bring confidence and calm at offer time. They guide you through the negotiation process helping you understand what to include, what to give up and most importantly, when to walk away if reasonable terms cannot be reached.
Finally, a great agent makes things easy. They dot the I’s, cross the t’s and handle all the details. They recommend reputable movers, contractors and other professionals you might need during any real estate transaction. They will give you tips and ideas. They will do the heavy-lifting, so you don’t have to. So, when choosing a REALTOR®, make sure they meet the profile. It makes all the difference.
STEP 3: PRICE SMART
Setting the list price of your home is an art. Too low and you leave money on the table, too high and you scare away buyers – perhaps forever.
Finding the optimal price requires a combination of expertise, analysis and old-fashioned street smarts. Great agent will combine intimate local and national market knowledge, an exhaustive study of similar homes for sale and an analysis of past sales to arrive at the optimal list price. And THEN, they combine that with your unique needs to pic a price that fits you.
STEP 4: OFFER NEGOTIATION
When you get an offer – or ideally multiple offers – you are this close to selling your home. Hoever, skilled negotiation is required to ensure that the deal is made for the highest price possible and with ideal terms and conditions. Negotiating is a skillset that is difficult to master. That is why it is important that you have a skilled agent handle this for you – someone who works in YOUR BEST INTEREST.
SOMETHING TO KEEP IN MIND:
- Counteroffers are normal. Expect some back and forth.
- Momentum is important. Things happen fast at this stage. That’s why having a good agent to represent you is vital.
- Price isn’t the only thing. You can negotiate on conditions, closing dates, asssets included with the property etc. Don’t get stuck on one thing.
STEP 5: WRAPPING UP THE DETAILS
Once the deal is made, your journey isn’t over. There is still paperwork to be done and calculations to be made. If you are working with a great agent, they will handle all those details for you and ensure everything is done properly, including coordinating with your real estate lawyer. What a load off your shoulders!
HOW MUCH DO YOU KEEP?
Once the sale is made, you will want to know how much you get to keep. There are a number of closing costs to consider:
- Legal Fees. Lawyer’s fees vary, but often have structured fees for the sale of homes. On average, you can expect to pay $1,000 for a lawyer to look after the legal details necessary to close your home.
- Disbursement. These fees cover additional legal expenses such as travel, copies, couriers, registration fees etc.
- Mortgage fees. Check with your lender to determine if any costs will occur when transferring or releasing your mortgage. There could be penalties that will take a substantial amount of money from you.
- Moving Costs. These vary depending on location, distance and amount of possessions to be moved. If you are moving yourself, you should factor gas, rental vehicles & insurance and moving supplies.