What is the process of selling a house?
Is it fast?
Is it easy?
Will it take forever?
Are you thinking about selling your house?
If you find yourself asking those questions, you’re in for a lot of work if you to decide to sell!
Now, just because selling a house can be a long and complicated process, it’s worth it. In this blog post, we will walk you through the entire process from start to finish.
So whether you’re just starting out or almost ready to close, this post has something for you!
1. Decide whether you are ready to sell
Are you 100% sure that you want to sell your house? Ask this question to yourself before you put your home on the market. It’s important to take a close look at your motivations for selling.
If you’re motivated by a life event such as a job loss or divorce, you may need to sell sooner rather than later. However, if you simply want to upgrade to a larger home, you may have more flexibility in timing. There are also financial considerations to take into account. If you’re selling in order to purchase a new home, you’ll need to factor in the cost of real estate commissions, closing costs, and other associated expenses.
It’s a spell for disaster, stress, and heartbreak to try and sell your house if you’re not completely ready. You may end up regretting your decision or even worse, losing money on the sale.
Take your time to make this decision, and be honest about why you’re selling. Only move forward with the sale if you’re confident that it’s the right thing for you and your family.
2. Choose the right real estate agent
An experienced and knowledgeable agent can help you navigate the often confusing and complicated world of home selling process. They will be able to provide you with guidance and advice every step of the way.
Real estate jargon like fair market value, closing date, pre-sale home inspection, and comparative market analysis are just a few of the terms you will encounter while selling your house. A great real estate agent will be able to explain these terms to you in plain English and that will make a huge difference from a good real estate agent.
Wait!? You may point out, that’s their job, but in my experience, a lot of real estate agents use these terms to sound smart and experienced when in reality, they are just trying to cover up the fact they don’t really know what they’re doing. Conventional knowledge says that its best to interview real estate agents (at least three different) before making your decision.
3. Prep your home for sale
As the old saying says, you never get a second chance to make a first impression. The same is true when selling your home. Visuals are very important to home buyers as it stimulate their emotions.
You want potential buyers to fall in love with your house at first sight! This could mean:
- Fixing the exterior or adding curb appeal
- Completing any MAJOR renovations such as kitchen upgrades, bathrooms, roofing, etc.
- Painting, professional photos, professional cleaning
When you’re getting ready to sell your home, it’s essential to take some time to prepare. A little bit of work upfront can go a long way in making your home more attractive to potential buyers. Visuals are essential to home buyers.
One of the first things you’ll want to do is de-clutter.
Get rid of any personal items and unnecessary clutter. This will help potential buyers to picture themselves living in your home. You’ll also want to give your home a deep clean. This includes cleaning areas that you might not usually think to clean, such as baseboards and light fixtures. If there are any necessary repairs or renovations, now is the time to take care of them.
Once you’ve taken care of the big items, you can focus on the details. Something as simple as adding a fresh coat of paint can make a big difference. By taking the time to prep your home, you’ll be one step closer to finding the right buyer.
4. Set a realistic asking price
One of the most important things to consider when selling your home is setting a realistic asking price. It can be tempting to try and maximize your profits by setting a high asking price, but this can often backfire.
Buyers are typically aware of market conditions and will be hesitant to make an offer on a home that is significantly overpriced. As a result, your home is likely to sit on the market for a longer period of time, eventually selling for less than it would have if it had been priced competitively from the start.
Therefore, it is essential to consult with a real estate agent to get an accurate estimate of your home’s value and set a price that will appeal to buyers.
5. Promote your home online and offline
You have to spend money in order to make money. Marketing is key!
Knowing this, the RIGHT real estate agent will take care of this, however, use the ideas below so you know what to look for from an agent!
How a Real Estate Agent SHOULD Promote Your Home:
Promoting your home online is essential in today’s day and age. Utilize free online resources, like Zillow, Facebook Marketplace, and your personal social media accounts to get the word out there. And don’t forget about good old-fashioned print ads and yard signs!
A study by the National Association of Realtors shows that over 90% of home buyers start searching for a new home online, so you definitely want to make sure your property is easily found with an online search. Paid advertisements on websites like Zillow and Meta can also be very effective in getting your home in front of potential buyers.
Additionally, ensure that your real estate agent is doing their part to promote your home. They should have a solid marketing plan that will get your home in front of as many people as possible. The more people that see your home, the better chance you have of selling it quickly and for a reasonable price.
As the technology age continues to grow, so does how we find homes. While searching for a home online is now the norm, there are still plenty of people who prefer more traditional methods, like print ads or yard signs.
You should also share your listing on social media and with your personal network. And don’t forget to put up a “For Sale” sign in your front yard! By promoting your home both online and offline, you’ll be more likely to find a buyer who’s the right fit for your property in the local market.
6. Get expert help when needed
In addition to hiring a real estate agent, you may also need to hire other professionals such as a professional photographer, home inspector or lawyer. These experts can help ensure that the selling process goes smoothly and that all of the necessary paperwork is in order.
Incredible and professional photos that speak for themselves are worth their weight in gold and can be a major selling point for your home. A professional photographer will know how to take great photos that show off your home in its best light.
A home inspector can help you identify any potential problems with your home before putting it on the market. This way, you can make any necessary repairs or price your home accordingly.
And finally, a real estate attorney can help with any legalities involved in selling your home, such as drafting the purchase agreement.
Getting expert help when selling your home is a smart move that can save you time for your home sale and money in the long run. A real estate agent, professional photographer, home inspector and lawyer can all help make the selling process go more smoothly. Peace of mind is priceless when selling your biggest investment – your home.
7. Negotiate an offer
When you receive an offer, work with your agent to determine if it’s fair and within your overall objectives. This is where experienced real estate agent sets themselves apart, as they can help you negotiate a higher price or better terms.
In a seller’s market, buyers are often willing to pay more than the asking price. You may even receive multiple bids. However, in a buyer’s market, you may need to be open to negotiating as there will likely be fewer offers.
Accept, make a counteroffer, or reject an offer after receiving one. Tread carefully and be respectful as the negotiation process can be emotional for all parties involved.
If you’re not happy with the first offer, don’t despair. Remember, this is just the beginning of the negotiation process. With the help of a skilled real estate agent, you can counteroffer and get a price that you’re happy with. The highest bidder doesn’t always win in a real estate negotiation. In some cases, the first offer may be the best offer.
8. Closing cost and final paperwork
After you’ve negotiated and agreed on a price, it’s time to sign the purchase agreement. This legally binding contract outlines the sale’s details, including the purchase price, closing date and any contingencies.
You and the buyer will need to complete some additional paperwork before the final sale. The buyer will need to obtain financing and arrange for a home inspection. You’ll need to provide information about the property, such as disclosure forms and proof of ownership. Once all of the paperwork is in order, you’ll be ready to close on the sale.
Your real estate agent should provide you with a comprehensive list of costs to be paid at the closing table. While the buyer generally covers a large portion of closing expenses, ranging from 2% to 4% of the sales price, you may also be required to pay some fees.
Of course, don’t forget you will have to pay your real estate agent for their services in selling your home. The commission is 4%-6% of the home’s sale price and is typically paid by the seller at the closing table.
Closing costs can add up, but fortunately, there are some ways to save. For example, you may be able to negotiate who pays for certain fees, such as the home inspection or appraisal. You can also ask the buyer to cover a more significant portion of the closing costs in exchange for a higher purchase price.
☑️ Did you know: You can shop around certain line items for closing? Always be sure to ask!
9. Move out and hand over the keys
Once the sale is final, it’s time to say goodbye to your home. Start by scheduling a moving company or renting a truck to transport your belongings to your new home. If you’re not moving far, you may be able to get away with just hiring a few friends with a truck.
Be sure to leave your home in good condition for the new owners. This means cleaning it from top to bottom and making any necessary repairs. Once the house is in tip-top shape, you can hand over the keys and wish the new owners all the best.
Final Thoughts
Selling a home is a big decision that comes with a lot of work. Listing your home, hosting open houses, and dealing with paperwork can be overwhelming.
The good news is that you don’t have to go through it alone. A professional real estate agent can help you list your home, market it to potential buyers, and navigate the paperwork. Not only will this make the process easier for you, but it will also help ensure you get the best price for your home.
So if you’re thinking of selling, be sure to enlist the help of an experienced real estate agent. If you have a question about your potential home sale, be sure to contact the team here at Robin Hickman Realty of Charlotte, NC – the experienced listing agent!
