Selling a home?
Here’s your smart home-seller’s
guide from Federa
December 11, 2020
Decision to sell a home may take anyone aback by millions of questions, the first of them being Where to start?
Whether you are a first-time seller or an experienced pro, this comprehensible guide and checklist will be a good place to start for anyone. Everything is possible and perfectly doable if you break it into smaller parts.
These parts are:
- Making your home attractive for potential buyers
- Setting a price for your home
- Marketing your home
- Showing your home to potential buyers
- Closing the deal
If you are interested in any of these in particular, click on in and read about it right away!
Make your home attractive for potential buyers
The first impression your home makes often serves as the main factor of the decision to buy it. Try to look at your home through the eyes of a prospective buyer. Is it well-maintained? Is there anything that could spoil the impression? Some substantial improvements may be needed, but try not to overcomplicate it. Start from decluttering, reorganization, and cleaning. In the majority of cases, these will serve your purpose perfectly.
If something needs more touch-up, such as repairs, upgrades, replacements, etc, you may want to take this into account when setting the price for your home. Generally, people put up with such things if they like the home and its price suits them.
In the main:
- Clean and tidy all rooms, halls, kitchen, bathrooms, as well as the porch, terrace, sidewalks, yard, driveway and other areas. Get rid of any litter and unnecessary items.
- Declutter all spaces, primarily storage ones (garage, basement, and attic). Make everything look as spacious as possible, remove and store all excess furniture, if you can. Clutter makes rooms look smaller, darker, and unkempt. Remove all odors.
- Remove from closets, shelves, and cabinets all your items you won’t need until after moving and store it somewhere, if possible. The same goes for kitchen and bathroom areas.
Set a price for your home
Your home’s value is dictated by the market, depending on its trends at any given time, so when deciding on the price of your home, it’s good to do your research and try to be impartial.
While the first one is easier to do, — due to the high volume of online platforms offering tons of different information on different properties, and many opportunities to discover things in person, — the second aspect asks you to forget about all your sentiments, opinions, and goals.
An important thing to get is a CMA — Comparative Market Analysis, a document with the latest information, photos, and details about homes similar to yours, that were sold, are currently on the market, or failed to sell. It is aimed to help you to set the best price for your home and sell it swiftly.
The trickiest part is to neither overprice, nor underprice your home. But, if you are listing your home with Federa’s Smart Listings, the company’s agents will take care of conducting a CMA for you, and will help you determine the right price for your home.
Market your home
Market exposure is important for increasing the number of showings and offers, thus helping you, as a seller, to get the most advantageous deal.
Today’s home-selling marketing is done primarily through the internet and its various online platforms (MLS, company websites, personal websites, social media, etc). There are also open houses, newspaper and magazine ads, yard signs, referrals, networking within the local community, and other methods, but statistics show that approximately 90% of home buyers find their homes via the internet.
A home listed via an online platform becomes exposed to the largest audience possible. It practically sells itself. There is really no need to use elaborate approaches and market, apart from your home, its location, and neighbourhood, — which used to be a big thing not very long ago. Good, skilled agents, — such as Federa’s Listing Specialists, — know this, and use it to draw the best results for their clients.
Showing your home to potential buyers
When the time comes to open your doors to prospective buyers, here are a few things to remember:
- Your home should always be ready to be shown. Especially during the first weeks following its listing.
- If you are using real estate agent’s services, you’ll have to allow them to place a yard sign and a lockbox on your door. Federa’s Smart Listings include this service.
- Showcase your home’s best features by opening all drapes and letting light shower all rooms and areas. Open all doors between the rooms, this will make the home more inviting. If there are still dark corners, take care to light them as well.
- Let some fresh air into the rooms.
- Take care to remove any clutter, make the beds. Put all your personal items away. Hide all valuables (lock them away). Get rid of everything unnecessary on the countertops, coffee tables, tables, shelves, etc.
- Clean the floors, rugs, carpets.
- Kitchen and bathroom areas should be spotless.
- Take out the trash.
- Ideally, you should be absent, as well as any pets you have. People tend to feel uncomfortable when the owners are around. It makes them enjoy their showing less, and thus less interested in the home itself. As to the pets, some people may have allergies, and some pets may be sensitive to a stranger’s presence in their home.
The negotiation process is crucial for any home-selling deal. When you reach this moment, keep in mind these principles:
- Remember about your situation, review closely every detail of every offer you get.
- Not all information about your listing and yourself should be disclosed to a buyer and their agent, e.g. your finances, your reasons for sale, your time constraints.
- In some cases, you should be flexible. There is no one right approach to negotiations. Try to collaborate with your buyer, if you feel like it, find out their priorities and respect them.
- Remember about your own priorities too.
- Do not hesitate to ask your questions and try to respond to those of the buyer quickly.
- If possible and needed, meet with them.
- Stay patient and trust your agent.
Closing the deal
There are two aspects of this final step to pay special attention to: 1 — contingencies and special provisions of the deal, 2 — the very transaction.
Contingencies and special provisions are present almost always, and they require both seller and buyer to fulfil certain demands after signing the agreement. Some of these are a professional home appraisal for ensuring that the listed price is adequate, an independent home inspection of the home’s structural condition, or basically any other inspection that one of the parties may want to conduct, the buyer’s securing of financing, providing a set of legal documents guaranteeing the true home ownership (Title Search), or any other provisions regarding the home (final walk-through, improvements, etc.)
The final transaction usually involves a third party, a real estate professional, who reviews the sales agreement and settles matters relating to the final amount to be collected from the buyer, taxes, the required documentation and records, keys delivery, and other.
To sum up it all
As you see, breaking this task into smaller parts makes it perfectly doable and less stressful for all parties involved. There are still some tough parts, but having a right, — and smart — agent will help any home-seller to pull it off successfully.
A good, competent, and experienced agent will assist you on every step, from list to final deal. They will conduct a CMA for you, organize, if you wish, a professional photoshoot of your home, list your home on the MLS, install a lockbox and a yard sign at your property, contact you with potential buyers, negotiate on your behalf, handle all of the transactions and settle everything regarding the final deal.
Don’t fear to seek assistance and make your home-selling experience a seamless one. Sell your home the smart way.
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