Are you planning to sell your home? Regardless if this is your first time listing a property, or if you’ve sold many homes, understanding the selling process and how you can best prepare to list will give you a better chance to net your target profit and enjoy the experience. Successful transactions require professionals with experience to help you navigate each phase of the process- from staging to closing.
Who Are The Experts?
• Real Estate Agent – Before you start, do your homework and find an experienced listing agent in your area. Your realtor should have knowledge of the area. They should also have comparable properties to establish your list price, and most importantly, the tools and network to get your house sold at a price you’re happy with. When considering a realtor, analyze their communication skills, responsiveness to your emails and questions, knowledge and experience, and professionalism. Your realtor is an essential part of the transaction. A good one can help you yield high profit in less time. But a bad realtor can cost you valuable time, energy and money. So make sure to vet your realtor and choose one that you think will best represent your home in the sale.
• Escrow Officer – Your escrow officer is a neutral 3rd party. They take the terms agreed to by the parties and ensure they are fulfilled properly. They handle signings and transfer of the title of the property. They also hold earnest money deposited by the buyer.
- Meet With Your Agent – Your agent will tour your home and discuss your market value (including a comparative market analysis), timing and financial goals in order to create a custom plan for selling your home. Your realtor should also go over your net profit at incremental selling points. As the seller, you should have an idea of how much money you will net if your house sells for X, Y or Z price points.
- Preparing Your Home For Sale – Part of your job as the seller is to do the work of making your house ready for a new owner. If you were a perspective home-buyer, would your house appeal to you? Start by tidying up, de-cluttering and pretending your house is a model home! Remove elements of your personality from the property, such as family photographs, personal items and small knick-knacks. Focus on keeping decor neutral and bright. Typically even a dated home can be spruced up with small changes in furniture placement, fresh paint, new lighting and/or minor repairs.
- Listing Your House – Once your home is clean, staged and ready for buyers, your realtor should hire a photographer to take professional images of the property. It is common for homes priced at $500K and above to have additional photography and videography, including drone footage, a home walkthrough video or virtual tour as well. These images are VERY important. They are the first thing potential buyers see, so quality photos are an absolute must when it comes to selling your home. Once those are done, your agent will list your home to the MLS and being implementing their marketing plan to reach homebuyers.
- Offers – Once you receive offers, you will speak with your agent to review them together and determine how to respond. When an offer comes in that you’re happy with, you’ll accept and officially be “under contract” at this point.
- Escrow Process For Sellers – The buyers will complete funding requirements, obtain an appraisal and home inspection. As the seller, you will also complete any conditions you’ve agreed to, such as repairs or termite work.
- Closing – Once all conditions have been completed, you will close the sale and receive the proceeds. Typically the escrow process takes about 30 days before you will close.
The sales process is a series of steps that you and your agent will take together. Knowing what to expect, and when, can alleviate the uncertainty you might feel as a seller. If you’re looking to list your home and would like a free consultation with one of our expert agents, please send us an email at Info@ImpresaRealEstate.com, give us a call at 623 404 0035, or comment on this blog post!