A STEP BY STEP GUIDE TO SELL YOUR HOME
Selling a home can be stressful, but it doesn’t have to be this way. Follow these steps and you can be sure to get the best price possible with the minimum of fuss.
This guide provides an overview of the home-selling process in 8 informative steps:
Tour your home with a critical eye to evaluate its condition and fix problems that can lower your home’s appeal and sales value.
- Some fixes are cosmetic and you may be able to them handle on your own at minimal cost, such as fresh paint, spiffy up the yard, update lighting, replace torn window screens, etc.
- Other problems that are more significant may require repairs done by home maintenance professionals: issues like heating, air-conditioning, plumbing, ventilation, the roof or the water heater can be deal-breakers if left unaddressed.
After you’ve taken stock tackle issues wisely as an initial investment of time and money to generate a quicker sale at a higher price.
Listing your home with a professional is the second step to a successful closing. A real estate professional is not only the one you’ll trust to help sell your home quickly and for the best price, but also someone who supports and educates you throughout the selling process. A good real estate broker will:
- Acknowledge their responsibilities, including complete disclosure, confidentiality, accountability and loyalty
- Help you to determine the best listing price
- Extensively market your home
- Offer expert advice to help you prepare and show your property
- Assist in locating any home-related services you may need
- Provide feedback from your home showings
- Communicate with you market changes that may affect your home’s sale
- Help determine qualify potential buyers
- Promptly present and evaluate each offer with you
- Negotiate the highest possible price and best terms
- Manage contractual, title and transaction details
- Ensure that essential items are signed, sealed and delivered on closing day
You’ll want to find a real estate professional that is knowledgeable, has the right mix of expertise, a realistic but tactful approach and a personality that matches your needs. Joel Schantz of Berkshire Hathaway Taos Real Estate has a proven track record and will assist you from beginning to end, helping you feel at ease throughout the selling process.
Setting the best price to attract potential buyers is a delicate balancing act. You don’t want to price your home too low or too high, but just right based on current market and data. If it’s priced too low, buyers may perceive that something is wrong with your home you. If it’s priced is too high, buyers may avoid viewing your home because it's out of their price range and risk your home sitting on the market for months.
Leave some cushion for negotiating. Many buyers like to wheel and deal, so set your sale price with a bit of wiggle room. Offering to cover closing costs allows you to stick to a higher asking price and helps to seal the deal.
A real estate professional will analyze recently sold home prices that are similar to your home, plus a review homes that are currently listed for sale to assess the competition. Joel Schantz will provide a Competitive Market Analysis (CMA) to help you determine the best listing price and probable sales price to strategically position and present your home to sell for top dollar in a reasonable time frame.
Just as strategically preparing and pricing your home is central for attracting serious and qualified buyers, it’s equally important to have a unique marketing plan that sets your home apart from others in the market and maximizes your home’s exposure to reach potential buyers.
You want to find a real estate professional that provides a comprehensive approach to showcasing your home. Having a robust marketing strategy that mixes of online and offline tactics is necessary for optimal results. Professionals offer a variety of ways make your home visible to potential buyers, including:
- Multiple Listing Service (MLS)
- Featured listings on company websites
- Online video home tours
- Professional online photos
- Drone photography
- Pay-per-click advertising
- Off and online advertising
- Social media postings
- Print and online publications
- Direct mail and email campaigns
There are other benefits too working with a real estate professional. Joel Schantz will work behind-the-scenes making phone calls, contacting potential buyers, alerting other area agents, following up with ad inquiries and prospects from the web, which all play a key part in marketing your home to sell at the best price and in the optimum length of time.
Make a good first impression. You want to allow potential buyers to envision themselves living in your home.
A general guideline to keep in mind is:
- Declutter. Make sure your home and yard are neat and orderly. Remove clutter and unneeded items that take away from your home's best features.
- Paint. Freshly painted walls and décor in a neutral shade can go a long way to enhance the overall appearance of your home.
- Curb Appeal. Take an objective look at your home's curb appeal and make adjustments as needed.
- Make It Inviting. Create a welcoming atmosphere with mood lighting, adjust the temperature, add decorative touches, eliminate bad odors and bake cookies or cinnamon bread to create an inviting aroma.
A real estate professional can identify your homes best features to ensure the best showing possible.
When an offer has been made on your home, you may then accept the offer, reject it, or counter it. Countering an offer begins negotiation. There are often one or more counteroffers and compromise is a crucial part of the process. As the seller, you can help facilitate to move the offer to a final sales agreement.
In the event that there are obstacles, your real estate professional is your strongest ally and best resource, finding solutions, negotiating on your behalf and moving things in the right direction. You can count on Joel’s expertise and keen negotiation skills to arrive at a fair price that both you and your buyer can agree upon.
Basic principles for successful negotiation:
- Disclose everything
- Ask questions
- Respond quickly
- Stay calm and be patient
- Meet halfway
- Be cautious with contingencies
- Rely on your real estate professional
The final step in selling your home is the closing, also known as the settlement or escrow. A pending agreement usually includes contingencies and conditions that must be fulfilled by the both parties by the closing date:
- Purchase financing
- Title Search to ensure that there are no claims against the property
- Title Insurance as protection in case of record errors or review mistakes
- Professional home appraisal to ensure the home’s actual value justifies the loan amount
- Meet contractual promises made in connection with buyer incentives, home improvements, etc.
- Independent inspection of the home’s structural condition
- Independent termite inspection
- Final walk-through by the buyer to verify that the home in the same condition as when the sale agreement was signed
There is a lot to know during the closing process. A good real estate professional will carefully review the sales agreement with you so you have a clear understanding of your obligations and be available to guide you through the final steps to complete the transaction.
Once your home’s closing is complete:
- Transfer all utilities out of your name and to the new owner
- Cancel your homeowner’s insurance policy once the title of your home has been formally transferred.
You may receive a refund for part of your prepaid homeowner’s insurance policy
- File your closing paperwork in a safe place so you can access it if needed
- Prepare for moving day
- Notify post office
- Take care of change of address notifications
When it comes to selling Taos properties, Joel Schantz and Berkshire Hathaway Taos Real Estate provides unrivaled market exposure for home owners with the marketing and support of a professional brokerage manager. Call 800.530.8899 or Contact Joel Today.