Managing showings, tough negotiations, buyers with crazy demands, and surprises in appraisals is just the tip of the iceberg when it comes to selling your home.
While working with a trusted real estate agent is key to getting the most eyes on your listing, it is the contract to closing process that makes working with a REALTOR® non-negotiable.
For many sellers, this process can be confusing, which is why we created a step-by-step guide to filling to help you get started.
Step 1: Choose the right agent
The most important step in our guide! Once you find an agent who you trust, they will make sure that you take the appropriate steps, at the right time to sell your home. Your agent will guide you along the way with everything from pricing to negotiating. When selecting your listing agent, you can work with someone you already know and trust, or you can interview a number of agents to make the best selection.
Step 2: Evaluate your home's value
Once you have selected your trusted agent, arrange a time with them to evaluate the value of your home. Your agent should provide you with a comparable market analysis that accounts for the recent sales of similar homes, as well as any updates you or past owners have made that may increase the overall value of your home. Remember: a seller's greatest mistake is to overprice their home. Keep the price in line with your agent's market evaluations
Step 3: Prepare your home for sale and establish a marketing plan
The process of preparing your home for sale could include a number of different tasks. Cleaning, making improvements, decluttering are great areas to start. While you work on getting your home showing ready, your agent should work on getting your home's personalized marketing plan ready. Work together with your agent to identify your home's selling points and choosing the best advertising to display them! Once your home is on the market, open houses and price adjustments may be necessary. Be sure to keep your home in tip-top shape for any and all showings!
Step 4: Negotiate offers
Have a game plan in place with your agent for how you will handle offers that come in on your home. If you're selling in a low-inventory market, you may experience multiple offers. And while you may find yourself gravitating to that with the highest number, remember there are other variables to consider: Do they have a preapproval for their loan? Is the purchase of your home dependent on the sale of their current residence? These questions, among others, are important discussion points to bring up to your agent. Once the negotiation is accepted, your agent, along with the buyer’s agent will begin connecting with the appropriate professionals who will assist in the close of your home. This list includes the buyer’s lender, a title company, inspectors, and appraisers. Soon you will receive a tentative closing date!
Step 5: Prepare for inspections
Beyond ensuring that your home has remained in its best shape, to prepare for inspections is to prepare for another round of negotiations. Your buyer and their agent will order inspections. Once the findings are reviewed, they may make requests for necessary repairs or replacements. This could come in the form of you completing the repairs or in the form of a monetary compensation presented to the buyer at closing
Step 6: Prepare for the appraisal
Your agent as well as the buyer’s agent will make the necessary arrangements to bring in a professional to determine the value of your home. If a home doesn’t appraise for the agreed-upon sales price, you are in danger of the deal falling apart. Now, more than ever, the value of working with a trusted agent shines.
Step 7: Get ready to close
Be sure to consult with your agent on the necessary materials you need to provide your title company and/or bring to the closing table. Finally, you will attend your closing, sign all the necessary paperwork, and hand over the keys!
While each home sale can vary, we hope that this quick breakdown gives you an idea of the overall selling process. If you’re looking to list your home, remember to #ListWiththeLeader and work with an agent associated with the top area brokerage! https://www.coldwellbankerishome.com/agents