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
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
- 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
- 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
- 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.
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.