How to Sell Your Home in 7 Steps
We all have different reasons for selling a home, but most sellers go through one universal process. If this is your first time selling your home, then it might be a good idea to familiarize yourself with the seven steps all sellers have to go through in order to sell their property:
1. Prepare to sell your house. Before creating an active listing for your property, you have to take care of important documentation first, such as new seller disclosure statements, form agreements, etc.
2. Hire a listing agent. Doing the second step will actually make the rest of the steps easier to handle. Hire a realtor who can help you with marketing, pricing, negotiating, filling up forms, inspecting, etc. A local-based realtor is the best candidate because of his/her familiarity with your neighborhood.
3. Finalize your home price. Consider market conditions, interest rates, and the going prices of neighboring homes for you to come up with your home's list price. Add in some creativity, marketing, and negotiation skills in the mix, then you will finally determine how much you can get for your home. There is no formula for this one, so it's part luck, part strategy in order to get the best price for your home.
4. Invest in marketing. A good way to determine whether or not a listing agent is the best person to help you sell the home is to ask them for a proposed marketing plan. A creative marketing plan that doesn't go overboard budget-wise is the best plan, so make sure to strike the perfect balance between cost-efficiency and maximum reach.
5. Accept, decline, or counter. Upon receiving an offer for your home, you have to work closely with your agent to accept, decline, or make a counteroffer. The decision rests squarely on your shoulders, but here's a quick tip: sellers who are willing to negotiate get to sell their home faster.
6. Settlement and escrow. Accepting the offer of a buyer may feel like the best thing that's happened in the last few months, but it's not actually the end of the home selling process. Make yourself available for your agent more, as he/she may require more attention from you for settlements, escrows, inspections, etc.
7. Moving out. The first six steps in selling your home actually helps you with moving out. Cleaning your closets, basements, and the attic, for instance, allows you to pack and sort things in advance. Once the home is under contract, hire professional help to move your things.
As long as you have a realtor by your side, selling a home will be very easy. Just entrust your home to the right people, and you'll be enjoying living in your new place very soon.
To access the complete home selling guide as published by Realtor®, please click here.