Time To Sell
A Digital Home Selling Guide
1. Lets Work Together (1 Week)
Benefits of working with a Realtor and having a listing agent:
Selling your home is a big deal and often an emotional one. Throughout the selling process you'll face many decisions such as pricing, staging, showing, and closing. Professional REALTORS® belong to the National Association of REALTORS® and conform to its strict Code of Ethics along with state and local regulations. Here is what REALTOR® will do for you:
- Educate you on the current real estate market
- Help you set a realistic competitive price to make your home sell for the most money in the shortest amount of time
- Calculate the approximate net proceeds on your sale
- Suggest ways to add sales appeal to your home
- Knows how to find prospective buyers
- Has contacts with people moving into town
- Will show your home for you and handle all phone call inquiries
- Is a skilled sales person who knows how to best market your home
- Is objective about the home to be responsive to possible criticisms from the buyer
- Will present offers and counter offers
Download Complete Sellers Guide
2. Dangers of Overpricing
How do I know how much to ask for my house?
One of the first steps to listing your home for sale is to determine a realistic competitive price to market your home at. While there may be exterior affects such as mortgage balances and emotional connection that push you to ask more for your home, there are downfalls to overpricing your home to consider.
Top eight risks you take when overpricing:
- Extending Market Time
- Helps Sell the Competition
- Loses Interested Buyers
- Attracts the Wrong Prospects
- Reduces Advertising Response
- Slows Activity on Home
- Eliminates Offers
- Can Cause Appraisal Problems
Obstacles to proper pricing:
→ Overly eager agents who will accept a listing at any price the seller puts on it.
→ Neighbors who lead the seller to believe they sold their home for more than they actually received.
→ Loss of perspective due to emotional attachment to property and lack of objectivity.
→ Fear of losing equity by pricing too low.
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3. Yes, it can be too late!
Well-priced properties generate immediate interest among REALTORS® and buyers. If the price is too high, that excitement never happens. Dropping the price later WILL NOT generate the same enthusiasm.
4. Learning the Lingo
Weighing Knowledge and Education:
REALTORS® try to be knowledgeable and a good teacher for their clients. While your REALTOR® aims to keep things as streamline and easy for you some terminology used throughout the selling process may trip you up. Familiarize yourself in our Free Glossary.
5. Improvements that Add Value
I've put alot of money into my house, will any of affect how much I can sell my house for?
Remodeling can add quality of life and improve the value of your home. However if you over-improve you run the risk of losing the time and money you've invested. Experts recommend that the market value of your home plus the cost of improvements should not exceed the highest priced home in your neighborhood by 20%.
Download Remodeling Chart
6. Tips for a Quick Sell
What does it take to sell my home quickly?
Updated and unique homes traditionally sell faster than cookie cutter homes. Here are some things you can do prepare your home for sale, hoping for a quick sell.
- Paint any parts of the home inside and out that need touching up
- Clean or replace worn or dated carpet
- Trim shrubs, prune the trees, and mow the lawn
- Wash all windows inside and out
- Put bright light bulbs in all fixtures
- Repair leaky faucets
- Remove excess and large furniture
- Make sure all appliances work well
- Clean/organize all closets and cabinets — move items to storage to make your property look roomier
- Remove and replace items not included in the sale
- Consider a pre-listing home inspection
Why would I get a home inspection as a Seller?
A home inspection is a detailed visual inspection of the present physical condition of your property. Sellers should consider getting a physical home inspection to increase their home's marketability, identify problems early, and eliminate worries. A home inspection costs approximately $300-$500 and can save you thousands down the road.
Energy auditing inspections are also available to determine the energy efficiency of your home.
Many buyers will make their offer contingent upon satisfactory results of a home inspection
Download Lead Based Paint Info Download Home Inspection Info Download Disclosure Warning
7. Prepare Your Home for Every Showing
While your home is actively listed on the market there are a number of practices you should be doing! Here are some tips on how to prepare your home to be showed and things to do right before a showing arrives:
- Leave when your home is being shown
- Remove pets from property during showings, or kennel in a specific area
- Remove/hide pet boxes and dishes right before a showing
- Open drapes and let in natural light
- Keep beds made and clothes picked up
- Remove all clutter!
- Put dirty dishes in dishwasher
- Take out the trash and ensure home smells fresh
8. How Do I Respond to an Offer On My Home?
Congratulations you've been presented an offer on your home!
Being presented with an offer on your home after weeks of marketing can be very exciting, but it's important to read carefully and know your house isn't sold yet. When approached with an offer, as a seller you have the option to accept the offer, deny the offer altogether, or counter the offer with adjustment in terms of purchase.
What are Points, Prepaids, and Closing Costs?
Points are a prepaid to a lender to decrease the interest rate charged for the loan. One point equals one percent.
Prepaids include items such as homeowners insurance, real estate taxes, and private mortgage insurance.
Closing costs are items such as loan origination fees, appraisals, title company fees, and processing fees.
Why Should I Pay These Fees?
By paying some or all of these fees a seller opens the door to a greater number of buyers and improves the opportunity to make a sale.
9. Sealing the Deal at Closing (~6 Weeks)
GIVE ME MY MONEY ALREADY!
The closing is the final step in selling your home. Closing costs usually include but are not limited to fees for surveys, publics record updates, appraisal, legal document work, title search, credit report, homeowners/flood insurance, loan origination fee, title insurance and more.
Before you close:
- Schedule a Final Walk-through
- Review all documents and your purchase agreement
- Know how much money -if any- you'll need to bring to closing
- Contact the utility company to hae services switched to your name
At the closing:
- Have a cashiers check or wire transfer for funds needed to close ($50,000 or greater is three days certified funds)
- Bring a photo ID
- Bring a flashy keychain to put your new set of house keys on
Download Seller's Net Sheet
10. How Does My Realtor Get Paid
Wait - did I overlook how I reimburse my REALTOR® for their hard work!
NOPE! REALTORS® are independent contractors and get paid on commission after closing of the transaction. All commissions are initially paid to the real estate firm by you the seller at the time of closing. The amount of which you pay is a pre-agreed upon percentage of the sold price. The real estate firm then pays the REALTOR® a percentage of the total commissions received at closing.
This guide has been put together by a REALTOR® and does not guarantee accuracy on transactions NOT facilitated by an Alliance Real Estate Inc. Appointed Agent. If you have questions or concerns about your own transaction please reach out to your REALTOR® or this sites administrator.