Welcome to the Home Seller's Guide
You've decided to sell you home and you want to make sure this transaction goes as smoothly and efficiently as possible.
First, you will want to reach out to a real estate professional to help determine how much your home is worth in the current market. This is the most critical step in the entire transaction because determining the correct value of your home is the key variable in all subsequent steps. For example, for how much you should list your home and how much leveraging power will you have in a seller's vs. a buyer's market?
Finding a Realtor
This step is crucial because your realtor will provide you the key information for determining the value of your home in the current market. Realtors usually also have a pipeline of buyers looking for homes in your area. So take care to find a realtor who specializes in your neighborhood. They also usually have relationships with contractors, home repair/inspection specialists needed to help you prepare your home for sale.
Experienced realtors educated in marketing, offer added value because homes that aren't properly marketed may sit on the open market longer than expected.
Pricing Your Home
Homes that are priced correctly for the current market and have great curb appeal, tend to bring multiple offers. Whereas those that are priced too high may end up on the buyers watch list. Your realtor should provide you with thorough research data, generally referred to as "Comps" that will price your home against at least three other homes with very similar features that sold most recently in your neighborhood/area.
Another thing to consider is the state of the economy. Economic factors influence how many homes are available for sale in a current market. When there is an abundance of homes for sale it is a buyer's market. When there are an abundance of buyers chasing fewer homes, it is a seller's market.
The Seven Steps to Sell Your Home
Step 1: Find a Realtor
Ask a friend or family member who recently purchased a home, who was their realtor?
Research on Google and social media to get started, then interview candidates
Verify realtors' credentials using the link below: http://www2.dre.ca.gov/PublicASP/pplinfo.asp
Call me for free resources:
Taylor Christian-Milton (562) 208-4455
Step 2: Determine Pricing
Call your Realtor for a full home evaluation and comps.
What is a comp? Watch Taylor Talk episode 4 to learn all about them!
Click below to get your free comp now!
Step 3: Repairs, Maintenance, and Disclosure
Curbside appeal and a well taken care of lawn are the most valued first impressions that you can provide to a buyer. According to Realtor.com, the average home buyer will visit 10 homes over 10 weeks before purchasing a home.
Make a list and repair the important things that may become deal breakers like foundation, heating and air, and roof.
Check out this article by Peter Warden about what to look for in a home inspection: https://themortgagereports.com/37626/what-to-look-for-in-a-home-inspection-recognizing-the-deal-breakers
IMPORTANT: Disclose any major issues that have not been repaired, as this may very well break the deal or end in lawsuits after closing.
Step 4: Staging Your Home
Some sellers will have there homes professionally staged to create the best possible opportunity to sell their homes quickly. If staging is in your budget, I definitely recommend it.
Check out this website of a reputable staging company:
I am a huge fan of decluttering. For the DIYers, I offer my clients a free staging evaluation to help them prepare their homes for sale. Call, text, or click below for your free staging evaluation.
Step 5: Getting Your Home Exposure
The best way to sell a home is to use marketing strategies through social media that will give your home the most exposure.
Some of the best social media channels to promote your home include:
Step 6: Negotiations
Once you have an interested buyer, they will make an offer based the listed price your realtor provided.
You should have already made an informed decision, based on housing market conditions, about your acceptable floor offers. In other words, the lowest price that you will accept for your home after repairs and maintenance.
You can make counter offers until you have agreed on a reasonable price.
Don't allow sentimental ties to your home to interfere with your negotiations. Focus on data and facts.
Step 7: Closing the Deal
Depending on how the buyer is planning to finance the house there may be some additional steps to this process. Basics steps are as follows.
1. Sign a purchase agreement
2. The escrow company will collect the earnest money deposit from the buyer
3. The buyer's loan officer will provide a pre-approval
4. The tilte company will conduct the title search
5. The buyer may request a home appraisal
6. Home and pest inspections are conducted
7. Homeowner's Insurance purchase by buyer
8. Final Walk through
9. Closing day- seller's just sign a few documents and render keys
Where to Advertise:
The internet has made the world a much smaller place. A lot more shopping is done online than ever before. Most buyers will go online to take a virtual tour of your home before calling their realtor to request a showing. Savvy realtors and marketers will add a landing page to their agent website that focuses solely on your property. And high end homes have their own websites solely dedicated.
Additionally, social media like Facebook, Linked In, and Instagram are required in good marketing strategies to connect with buyers.
When to Advertise:
Lazy Saturday and Sunday afternoons are great times for you to open your home to neighborhood shoppers.
Ask for Help:
Be sure to ask your realtor what the best marketing strategy for your home is and how they would go about advertising.
Find out how much your home is worth in the current market
Find a Loan Representative
Find a Title Company
Find an Escrow Company
Find a Pest Control Company
Find an Appraiser
Find a Staging Company
Marketing: Why Social Media? 17-real-estate-in-a-digital-age-03-10-2017.pdf
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