The selling process
The first step in the selling process is deciding you want to move. Next, you'll want to find the right real estate agent to help you.
Once you have selected some potential agents you should set up an appointment with them so they can answer your questions and concerns. Some questions you should ask in order to help you in the decision-making process include: How long have you been in business? How long have you sold houses in this area? How many houses have you sold in the past year? What is your commission? How would you market my house? How are meeting with potential buyers organized? Who will coordinate? Who are your references?
Pricing a home
Pricing your home is the first thing buyers notice about your property.
Compare your house to others that are in the market. If you use an agent, he/she will provide you with a Comparative Market Analysis (CMA). The CMA will reflect the houses in your price range and area sold within the last 6 months, the asking and selling prices of houses, a current inventory of houses on the market, and features of each house on the market
Overpricing
If you set your price too high, then the chance of alienating buyers is much higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.
Making your home look its best
If you want buyers to be interested in your home, you need to show it in its best light. A good first impression can influence a buyer into making an offer; it influences a buyer emotionally and visually.
Some things to consider include:
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Landscaping - Has the front yard been maintained? Are areas of the house visible to the street in good condition?
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Cleaning or Redoing the driveway - Is your driveway cluttered with toys, tools, trash etc.?
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Painting - Does both the exterior and the interior look like they have been well taken care of?
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Carpeting - Does the carpet have stains? Or does the carpet look old and dirty?
Marketing your home
Advertising - The REALTOR'S® largest expense has traditionally been classified advertising in the local newspaper. However, today properties are also exposed through popular Internet home search/listing services, radio and television promotions, and real estate guides. Even with all these additional advertising avenues, "For Sale" signs on the front lawn are still remarkably effective. Many REALTORS® use brochure boxes along with these signs to market the property. When appropriate, and with your permission, your agent may send a mailing about your property to neighbors. Sometimes one of them has "a friend or relative who always wanted to live near me." You never know.
Showings & Open Houses - To prepare your home for viewing, make it as light, cheerful and serene as possible. Your REALTOR® will probably find a tactful way to suggest that you not be present while the house is being shown to prospective buyers. This is done because your presence will inhibit their actions and conversations.
Tips for an Open House -
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Pull the drapes back
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Light lamps
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Simmer a few drops of vanilla on the stove
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Light your fireplace
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Set the dining room or kitchen table if you have particularly nice linen or china
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Put fresh towels in the bathroom
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Leave the house so your REALTOR® is free to deal with prospective buyers in a professional manner.
5 reasons a property sells
Of the five reasons a property sells, listed below, you control 4 of the 5.
Location of your property - you have no control over the location of your home, but its location helps determine its value.
Price of your property - the right price can only be determined by a well-researched computerized marketing evaluation. As a home seller, you should get a market analysis comparing your home to similar properties that have recently sold and are currently on the market.
Marketing - Marketing your property in a structured, planned and professional manner is the major differentiator between various Real Estate Agents. A clearly designed and professional marketing campaign and strategy that will reach the widest buyer audience is absolutely vital to the sale of your property.
Condition of Property - your home's condition is vital to a sale. A clean, well-maintained property enjoys a competitive edge over all the others on the market. You'll sell faster and at a higher price if you "Stage manage" your property to enhance its appeal.
The Agent You Select - The real estate agent advises you on market conditions, pricing, "staging" recommendations, contracting, financing, appraising, marketing and closing the sale of your property.
An Offer!
Your offer is the first step toward negotiating a sales contract with the seller. Since this is just the beginning of negotiations, you should put yourself in the seller’s shoes and imagine his or her reaction to everything you include. Your goal is to get what you want, and imagining the seller’s reactions will help you attain that goal.
The Closing
The "Closing" refers to the meeting where ownership of the property is legally transferred to the buyer. Your agent will be present during the closing to help explain the process and forms to you and make sure everything goes as planned. By being present during the closing, he or she can mediate any last minute issues that may arise.
As the seller, you will need to be prepared to hand over any necessary documentation regarding the property and, depending on the arrangements made during negotiations, you may be required to have done something specific in order to close.
For Home Sellers
