In today’s hectic real estate market, many people are asking themselves, “How on Earth do I sell my home?” Selling a property is no walk in the park. In fact, it can be extremely overwhelming. You need a guide to selling your home.
Yes, in theory, the process of selling your home is fairly simple: you list the property, find a buyer, and hand over the keys. However, a lot of people overlook the more nuanced aspects of selling a home.
There are many moving parts in the home-selling process, many of which are out of your control. For instance, the location of your home can greatly allow you to sell your home faster. It also impacts the value of your home.
In areas where there are few homes available for sale, you’re likely to sell your home faster and for a higher price. On the other hand, in areas where there is an abundance of homes for sale, homeowners will have to work harder to find a buyer.
The real estate market as a whole is another factor to consider. Are property values on the rise or on the decline? Is it even a good time to sell your home?
These are all questions that you should ask yourself before starting the journey of selling your home. You should have a clear, defined plan before making any significant decisions. Once you get started, you’re in for quite a ride. Here is a guide to selling your home.
Guide to Selling Your Home
Hire an Agent
One of the most important parts of selling your home is hiring a quality agent. Real estate agents or realtors walk you through the entire process of selling your home, from preparing your property, to finding a buyer.
They also provide valuable insight into the market, giving you recommendations on how to get the maximum value out of your property. When you sell your home through a realtor, you gain access to the MLS, the Multiple Listing Service. This service acts as a private offer between realtors to help clients buy and sell homes.
A majority of people who sell their homes do so through an individual realtor or a licensed firm. Typically, they’ll end up taking 5-6% of the total price of the sale. In return, your home is shown to the widest market possible.
Though it is possible to sell a property by yourself, it is very difficult. You’ll have to personally prep your home, market it, review offers, handle negotiations, and more. If this sounds out of your comfort level, you’re probably best off hiring an agent.
To find the best agent, make sure to conduct extensive research on their history as a broker. Often, you can tell if a broker is good at their job by looking at their track record.
Pay attention to how many sales they’ve helped make. Look at what designations they may have earned. Also, look at where they market their listings and if their listings look professional.
Price Your Home Realistically
Another important factor to consider is how you’re going to price your home. You don’t want to price it too high and be waiting for years for it to sell. However, you also don’t want to leave money on the table.
Remember that buyers are usually trying to pay below market value for properties. Therefore, if you’re looking for a quick sale, it makes sense to price your home slightly below comparables.
For accurate pricing, look at comps in your neighborhood. With a quick search online, you can find tons of data on recently sold properties in your area.
Consider Upgrades
Before you list your home, you should decide if you want to make any upgrades. In some cases, making some small improvements to your home can greatly improve its value.
Perhaps you want to swap out a door that is old and creaky. Maybe you want to take out some of the grass on the lawn and add some nice bedrock.
Check with your broker to see if these upgrades are worthwhile. If there is a high return on your investment available, you should do whatever it takes to upgrade your home.
Take Professional Photos
Now, it’s time to list your home. The first step in listing a property is to take high-quality photos of it.
Work with your real estate agent to capture the best possible shots of your home. Your agent will be able to help you make the property look its best.
The photos in your listing play a huge role in getting your home sold. If your photos don’t stand out, barely any buyers will even see your listing.
To get the best possible photos, you may want to consider hiring a professional photographer.
Find a photographer with a strong portfolio in the home market and who knows how to make rooms look bigger, brighter, and more attractive.