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5 Steps to Selling a Home

If you are selling a home or are planning to in the near future, here are five steps you should know.

  1. Understand your home’s market value

 

Most homeowners have some type of idea regarding their home value. They learn from fliers in the mail, nearby home sales, or even attend open houses. They may have even seen an appraisal after recently refinancing. When it comes to selling, you need to grasp the idea of your home “market” value. This is what the buyer is willing to pay on the open market. A local agent can also give you a practical idea of your home’s value. These agents can put together a Comparative Market Analysis (CMA). After a tour of your home, the agent will return with some information about the market, including comparable sales and an initial home value estimate.

  1. View your home as a product

 

Many homeowners believe their home to be a place of living and making memories. But if you are selling, then it is time to think like a salesperson. You must see your home as a ‘product’ and how it can sell itself. With this perspective, you can understand what looks good to buyers and what does not. You must understand your home’s overall condition as well. You can schedule a property inspection to discover what needs to be replaced or restored.

  1. Know Your Market

 

You need be equipped with the most up-to-date information about your market if you are to make a successful sale. Attend open house and start to engage with your local real estate market. Your agent should also be updating you constantly on the process of selling your home. Devote attention to how your home performs on the market. Start absorbing information about the best price for your offering.

  1. Do the Due Diligence

 

After speaking to an experienced local agent, you will a number of tasks to get you going on the sale of your home. Start communicating with painters, repair professionals, landscapers, etc. Ask for referrals and obtain bids on other services required. How much work are you willing to put in? Prioritize the most important objectives and start checking off the to-do list.

  1. Put the Plan Into Action

 

You and your agent should select a date where the property will become officially “listed. Your home should be “open house ready” for the photo shoot. Listing photos are the first impression you are going to make. Information is important, but photos get people to click and call. This means you must take care of all the leg work before taking the photos. This process has the heaviest workload for most sellers, but once the home becomes officially listed, the efforts will pay off.