1: Find a reliable listing agent
When selling your home, it is extremely
important to find a listing agent you can count on. Studies
show that homesellers who use a real estate agent to represent
them generally get a better price than those who sell the
home themselves. Good agents are up-to-date on critical
processes and can help keep you out of trouble. They will
market your home actively, and negotiate with potential
buyers for the seller's best interest to bring top dollars
for your home, expediting the homeselling process in the
Please take a look at the section on "How
to Find a Good Agent".
2: Prepare your home into a showing condition
|It's important to have your home in good
showing condition before buyers start going through it. Here
are some suggestions for steps to take:
- Touch up interior and exterior paint as needed.
- Install new carpeting and flooring if it appears worn
- Make sure the front is clean and spruced up - curb appeal
will create a favorable first impression.
- Trim bushes and plants as needed, and make sure the
lawn is kept mowed and trimmed. In autumn, rake the leaves;
in winter, keep the snow shoveled.
- Keep the interior clean, decluttered and odor-free.
Eliminate evidence of pets.
- Minimize personal items such as family photos. You want
buyers to see themselves living in the home.
- Consider putting excess furniture and belongings in
storage. Now's the time to clean out the garage and basement
and sell, give away or throw away items you don't need
- Consider having a pre-listing inspection performed.
Buyers will be hiring professional inspectors; here's
your chance to address problems in advance.
- Consider engaging a professional stager to give your
home the right emotional appeal.
Since price is often one of the most important
factors to both sellers and buyers, pricing your home appropriately
can expedite the sale of your home. Don't set the price
of your home without supporting data that will make sense
A real estate agent will carefully research the local housing
market, pull comparables and give you an objective input.
Sale prices are a product of supply and demand. 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. Alternatively, it's important to be realistic. If
the local community is losing jobs and people are moving
out, then you'll likely have a buyer's market.
Remember that "overpricing" is the number one
reason a house does not sell in a timely manner.
It is the most important job for a listing
agent to promote your house, so that it will sell for top-dollars
in a timely manner. Whether it's internet, flyers, newspaper,
magazine or open house, an agent will incorporate the most
suitable methods to promote your home to attract as many
serious buyers as possible. A good, experienced real estate
agent will market your property to other real estate agents
- as well as to the public - and will know the best way
to go about doing so. Also, an agent having capability and
connections to makert your home to a broader spectrum of
buyers, not just the people in your neighborhood will help
you a great deal.
5: Offers and Negotiation
Once you receive an offer, let your agent
explain the contents of the offer to you in details including
various conditions that may be in the offer. Ask away all
the questions you may have for the offer and express the
desires to change any of the conditions in the offer. He/she
will negotiate the prices and conditions for your best interest,
and counter offer the buyer until both parties come to realistic
and reasonable agreement.
Once both you and the buyer(s) sign the
sales contract, and cofirm the buyer secured their loan
by obtaining the approval letter from the buyer's lender,
tackle the repair items if requested in the sales contract.
These repairs need to be made in a timely manner within
the set period specified in the contract before the closing.
This is the last step in the home buying
process. Typically, the seller(s), the buyer(s), seller's
& buyer's real estate agent gather at the closing attorney's
office to transfer the names on the title from the seller
to the buyer, and for the buyer(s) to finalize their mortgage
At the end of the closing, you will hand the keys to the
house to the new owner(s), and your house is SOLD!
|Call Mr. K