STEP 1 – PREPARING TO SELL
Every owner wants the best possible deal with the least amount of hassle. The important key to selling fast and for top dollar is taking time to prepare and this is not just putting a sign in the yard. The home-selling process has changed. Buyer brokerage – where REALTORS ® represent homebuyers – is now common, arming buyers with more information. Sellers therefore, need to be well-educated about their local real estate market to achieve the highest possible value.
While thousands of homes are sold each week, the process is no longer as uncomplicated as it was 5 or 10 years ago. Surviving in today’s real estate market requires experience and training in real estate marketing, financing, negotiation and closing – the very expertise local REALTORS ® are armed with.
Listings.com is a great source to equip a seller with all the needed information.
STEP 2 – FINDING A LISTING BROKER
The home-selling process typically starts several months before a property is made available for sale. It is essential to see the home through the eyes of a prospective buyer and establish what needs to be done. A good cleaning and painting are the best inexpensive way to start yet bring good results in return. Buyers seek the least expensive home in the best neighborhood. In terms of improvement, a home that fits in the neighborhood but is not over-improved. Mechanical repairs should ensure that all systems and appliances are in good working condition. Aim for “a good first impression” at which you only get one shot.
Preparing to sell also entails providing a good reason why you are selling because this can impact the negotiating process. Therefore, it is important to discuss your needs and wants relative to the reason why you are selling with your Listings.com agents.
STEP 3 – PRICING YOUR HOME
Many websites can give an estimate in pricing your home. Some may be accurate while some may give an estimate that is almost half off the actual selling price. Pricing your home, if not done right can cost you. Getting what your home’s real worth is what every seller would want.
Several factors, including market conditions and interest rates, determine the value of your home. This is not a matter of what owners would like to get. Of course, the goal is to get the maximum price and the best terms during selling time. In considering home values, several factors are important.
- Location – The value of your home relates to local sale prices. The same home is most likely to conduct a different price located elsewhere.
- Prices – The law of supply and demand affect sale prices. If you live in a community with an expanding job base, a growing population and a limited housing supply, it’s likely that prices will rise. Reality check – if the local community is on a down swing, then you are likely to have a buyer’s market.
- Value – Owner needs can impact sale values. The faster the property is needed to be sold, the less leverage there is in the marketplace.
To give a better understanding, suppose there have been five sales of a house model same as your own and sale value ranged between $300,000 and $310,000. This gives an idea how your home might be priced. A strong market may give you a little more than $310,000. However, a slow market giving $310,000 is reasonable enough. But then again, why go through all the hassle and trouble when Listings.com agents can and are always ready to help. Experience Listings.com REALTORS ® are active in the local marketplace and can provide assistance with pricing, marketing, negotiation and closing.
STEP 4 – MARKETING YOUR HOME
It is necessary to apply marketing strategies when selling a home. The property will be listed then entered in the local MLS (Multiple Listing Service) and placed on REALTOR.com®. Aside from the standard MLS listings, Listings.com agents begin “behind the scenes” activities such as emailing out new listing announcements and regular newsletters.
Open houses, whenever appropriate are also held. Listings.com agents then do the follow-up with open-house visitors, hold conversations with ad respondents, and respond to web postings and other outreach efforts – all part of the process required to sell your home.
According to the National Association of Realtors (NAR), a big percentage of buyers check the internet. Placing an ad online to get peoples eyes on the property being sold is an effective marketing strategy. The internet has two important roles in the real estate selling process. First, real estate properties may be viewed there. Listings.com lists properties on its national portal for global exposure. It also maintains localized ‘City Sites’ that are optimized to attract buyers that are focusing their search for property in a particular city.
What makes online an effective marketing strategy for home-selling is that the information includes not only home listings but numerous additional features and benefits such as neighborhood information, school data, recent home sale prices and comparables and other hard-to-find real estate information.
STEP 5 – NEGOTIATING AN OFFER
Negotiating a real estate sale from the seller’s standpoint is often more challenging than from the buyer’s standpoint. Negotiation is where many home sellers come across problems. Convincing a buyer when big amount of money is involved is more difficult. You don’t want to overprice but you don’t want to underprice either.
Effective negotiation is making time work to a seller’s advantage. Find out how soon the buyer needs to move in. This may help in conducting a more attractive price and a faster transaction.
There are typically more emotions involved with the seller because a place can hold a lot of memories. To be a successful seller however, when negotiating the sale of your home, the more emotional attachments you can remove, the better.
In any negotiations, make sure no personal feelings will get in the way. If a buyer makes a low offer, find out the reason for the low offer than taking it as an insult. If a buyer’s offer insists that you change the color of the paint in the living room, see it as a buying signal than as a comment against your decorating taste. Remember your objective – Selling Your House!
STEP 6 – CLOSING THE DEAL
The last step in the entire transaction is in closing in which the documents and agreements are signed by seller and buyer. The transfer of the ownership of the property then is made legal upon signing pertinent documents. However, you might think the selling process is complete after signing is done. Not only is it not over yet, but the most complex aspects of your real estate transaction now begin.
A sale agreement sets not only a purchase price for the home, but also a series of terms and conditions. For instance: contracts routinely depend on the ability of a buyer to obtain financing, which is why most sellers prefer buyers with pre-approval letters from lenders. A growing percentage of transactions involve home inspection, or a physical review of the home by a trained and independent observer.
Before granting a loan, lenders will establish numerous conditions. A title exam, title insurance to protect against title errors, termite inspections, surveys and an appraisal to assure that the home has sufficient value to secure loan.
While instant closing is not practical, so is closing too far in the future. The problem with closings past 60 days is that loan rates are difficult to lock in. Let Listings.com realtors arrange required inspections and help owners prepare for closing and assure owners of smooth transition.
STEP 7 – MOVING
Regardless of the size of the house, moving the furniture, clothes, kitchen equipment, pictures and many other things would mean a lot of work. For a short move, it may be worthwhile to transport small goods by you but larger items are best handled by professional movers more so if moving historic, breakable of valued items. This routinely requires special handling and packaging.
A yard sale will help reduce the volume of goods to be moved. Not only will it lower moving costs, it is also helpful in sorting out unwanted goods at the same time generate money from it. Those that cannot be sold may be donated to charitable groups who are generally willing to pick up the donations. The remaining unwanted goods may be taken to a landfill.
From the time the decision to sell your home, moving plan has begun and this is guided by a number of things. Consider the distance of where you are moving and how you intend to do the moving. In all these, planning is essential. Stock up on boxes, packing material, tape and markers. Always mark boxes so that movers will know where goods should be placed.
If you will be selecting a moving company, consider these factors:
- Budget – you would want to spend as little as possible.
- Equipment – large or small, the mover must have the right equipment.
- Experience – select a mover that has done a similar size and type of home move.
- References – the movers should be able to provide recent references.
- Estimates – get movers to estimate in writing. Be aware that it’s possible to get discounts.Lastly, make a moving checklist. Moving is a big job and
checklists can make it more organized and easier. Major items to consider:
- Money – make sure there is enough cash to cover travel, food and lodging
- Medicine – keep medicines and related prescriptions in place where they can be accessed easily Marker-number boxes so that all items can be counted on arrival
- Toys and games – if moving with children, this will help them while away the time
Have address books readily available in case you need help. If you have a laptop computer with a modem, make it accessible during your trip to pick up business and personal e-mail.
Ideally, you want to be sure that your property is competitive with other homes available in the community. Working with a Listings.com agent can provide suggestions on how to best make your property competitive in the marketplace.