1. What's My Home Worth?
The first step in selling your home is to figure out how much it's worth. This is done by using comparable sales. A "Comparative Market Analysis" or CMA is a comprehensive worksheet that helps to establish you home's current value. Careful consideration is taken when completing your CMA.
No matter how attractive your home is, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay (in the past few months), for properties in your neighborhood that are similar to yours.
We will furnish the data on sales figures for those "comps" and analyze them for a recommended listing price. Of course, the final decision is always yours.
Usually, a CMA is enough to help you set a proper price. If you have unique property, an appraisal can be a helpful tool.
2. Setting the Price
When setting the list price for your home, it's important to price it properly!
Priced too high: The number of showings will be lower. Buyers quickly understand home pricing in the area they're searching and skip past the over-priced homes. When your home is "on the market" for a while, buyers begin to wonder why and think "what's wrong with it?"
Priced too low: Yes, the number of showings will be higher and your house will probably sell quickly. But, you're leaving money "on the table" that could be used toward your next purchase.
3. Get Your Home Show Ready!
It's important to make sure your home is "show ready." Consider hiring a service to do a deep clean and then maintain it.
Put away as much 'personal clutter' as possible. Consider taking down some family photos. Sometimes it's difficult for potential buyers to picture themselves in the home with your personal touches.
A few more tips:
4. Let's Get it Listed!
Now, it's time to get your home listed. Your home will appear on the Multiple Listing Service also known as the MLS. Here, it will be available for thousands of potential buyers to see. Once it's on the MLS, hundreds of 3rd party websites will advertise your home on their site too! We have many additional ways to showcase your home including: open houses, Craigslist ads, a custom website, sign riders with text information, personalized flyers (in your front yard) and more!
5. Be Available
When it's easier to view your home, more buyers will see it. More buyers = more offers. It sounds simple, but really makes a big difference.
6. Review the Offer
When we receive an offer, we'll review the details together. If their offer isn't acceptable "as is", you have the option to reply with a counter offer. A counter offer can address pricing, terms and anything you want to change. When the offer is signed by buyers and sellers, it becomes a contract.
7. They Found WHAT?!
The buyer's inspection period begins the day after the offer becomes a contract. This is when the buyer's inspections are scheduled. They may ask for repairs based on their inspection report. We'll review your options and respond accordingly.
8. Almost Done...
Next, we arrange for closing. We'll review all the facts and figures before the big day. Closing will be at the title company. When the buyer's loan "funds" and the closing documents record with the county, the transfer of ownership officially takes place. Congratulations on the sale of your home!