Home Selling Step 1: Selling Your Home
Countless homes are sold each year. While each transaction is unique, all sellers usually want the same thing – The highest price in the least amount of time with the least amount of stress.
Home selling is much more sophisticated than it used to be. To successfully sell your home requires experience and training in areas such as real estate, marketing, financing, negotiation and closing. This is the expertise your REALTOR® will offer.
Know why you want to sell your home.
First you must have a very clear idea of why you want to sell your home.
Selling a home is major change in ones life and there is usually a good reason, such as needing more space for a growing family, retiring to a smaller home, moving closer to your job or simply moving to a new community. Your reason for selling can greatly impact the negotiating process so it is very important to discuss your needs and wants in private with your REALTOR®.
Is your home ready to be sold?
The home selling process typically starts many months before a property is actually put on the market and made available for sale. For the best results when selling your home, you will want to look at your home through the eyes of a prospective buyer and determine what needs to cleaned, repaired, painted, or removed.
Ask yourself “If I were buying this home, what would I want to see?” The goal is to show a home which looks good. Maximizing the space will attract as many buyers and as much demand as possible.
How do to improve your home’s value?
Ideally, you want to be sure that your property is competitive with other homes available in your neighborhood and community. Most REALTORS® tour many homes and can provide suggestions that are consistent with your local marketplace and cost effective in terms of what you may be able to recoup through the sale.
The general rule in real estate is that buyers seek the least expensive home in the best neighborhood they can afford. In terms of improvements, this means you want your home to fit in with the neighborhood but you also want to make sure not to over improve your property. For example, if most homes in your neighborhood have three bedrooms, two baths and 2,500 total finished square feet, a property with five bedrooms, more baths and far more space would likely be priced much higher and would most likely be more difficult to sell.
Improvements should be made so that the home shows well, is consistent with the neighborhood and does not involve capital investments that can not be recovered from the sale. Furthermore, improvements should reflect community trends and preferences.
Cosmetic improvements, such as carpeting, paint, wallpaper and landscaping help a home “show” better and often are a good investment. Mechanical repairs which ensure that all systems and appliances are in good working condition are required to secure the top price.
Prepare to sell your home by evaluating why you want to make the move and improve your home to enhance its value to the potential buyers.
Working with an experienced REALTOR® will offer you valuable expertise and advise to guide you through the complex process of selling your home for top dollar in the least amount of time and with the least amount of stress.