The Chicago Real Estate Minute

Don’t Miss 3 Big Must-Do’s to Get A Home Sold

As with many things in life, selling your home can go more smoothly when you follow a well-defined process. We can break this down into three chapters of the selling book.
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Okay, so you’ve gone through the process to decide on a realtor to work with you. This post explains all the sub­se­quent steps necessary for your home to sell — ideally for the most money, best terms, and fewest hassles.

Make sure your realtor follows the “Get a Home Sold” Plan

Follow a Plan, or Plan to Fail

Selling a home is a headache. No two ways about it, it is. But most of the time — if you’re like most people and are planning a move-up purchase, down­siz­ing, or relo­cat­ing — you have no choice. If any of these points are over­looked or not taken seriously, your entire journey of selling a home could come crashing down. So follow this plan.

Chapter One: Preparing to go on the market

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  • Pricing: The single most important step in your entire selling odyssey is setting the right price. Screw it up, and every­thing else you’re doing is probably less effective.
  • Staging: How to effec­tive­ly stage your home to maximize its appeal to the widest audience is imper­a­tive.
  • Finishes: Making some low-cost updates to your home can do wonders for its market value.
  • Condition: If there are obvious features that neg­a­tive­ly affect value, get them done before going on the market.
  • Marketing: Your agent’s marketing plan prior to hitting the market can really help you sell more quickly.
  • (Condo Owners: Having all your condo documents and finan­cials at the ready will be a necessity.)

Chapter Two: Home is actively on the market

Image by HNDPTESBC from Pixabay
  • Living in a home on the market: Your home is now a showcase and must be kept that way. Have a checklist you use prior to each showing.
  • Showings: This is it! Showtime!
  • Open Houses: While not being the primary driver of a home selling, open houses can be ben­e­fi­cial.
  • Feedback: Not every agent doing a showing has feedback, and when they do, you’ll need a seasoned agent to interpret the often-vague comments.
  • Metrics: There are revealing metrics that all listing agents have access to. Most just don’t know where to find them, or what they mean.
  • Listening to the Market: If your home isn’t selling, and the metrics are telling you’re over­priced, the best thing to do is adjust the price.
  • Remembering Your Enemy: Market time. The longer any seller toils on the market, the more they cost them­selves time, effort, and money.

Chapter Three: Contract to close process

Image by HNDPTESBC from Pixabay
  • Inspection: This is your buyer’s main chance to see the home for an extended period. Be sure someone rep­re­sent­ing you will be there.
  • Attorney Review: Part of the con­trac­tu­al “checks and balances”, inspec­tion items and verbiage need to be nego­ti­at­ed and agreed to.
  • Appraisal: This is how the buyer’s lender verifies value. Have a team that knows how to present infor­ma­tion to help the appraiser under­stand it.
  • Mortgage Contingency: When your buyer is getting their loan formally approved, your team needs to be part of the solution, too.
  • Moving: Let’s not forget that through­out all this, you need to organize every­thing you own and get it moved to your new home.
  • Final Walk-Through: Done just before closing, this is when the buyer verifies that all looks as expected and nothing has been damaged.
  • Closing: And the final step that you and your buyer have both been working towards: the suc­cess­ful transfer of ownership.

Final Word

Indeed the road to get a home sold is a process. Not an impos­si­ble one by any means, but def­i­nite­ly one where each aspect need to be done the right way at the right time to have it work out best for you.

Who you decide to have as your listing agent is imper­a­tive. Working with a knowl­edge­able, expe­ri­enced and detail-oriented agent is the best way to help you suc­cess­ful­ly clear each of these hurdles.

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