The Home Purchase Process
Two of the basic questions home sellers ask most often are "How quickly?" and "How Much?" The answers to "How quickly can you sell your house?" and "For how much money?" greatly depends on local real estate market conditions and on preparations you, the seller, make prior to putting a house on the market.
To assist you in better navigating the real estate process in any market, we have compiled a list of essential steps for home sellers. For a more complete understanding of your specific market, we encourage you to contact a local ERA Real Estate agent.
Understand the Market
In real estate markets home prices vary frequently and suddenly. To best understand your market, we suggest working with an ERA Real Estate agent. Our team of proven professionals has valuable experience and local market knowledge, including deciphering local market fluctuations, which can help sellers, like you, prepare their home for sale.
Price It Right
If you set your selling price too high, you risk limited viewing from potential buyers. Price it too low and you may sell it more quickly, but at the possibility of making less money on the sale.
No matter how beautiful your home may be, buyers will compare it to other homes for sale in the market at that time. Therefore, pricing your home correctly is one of the most important factors in getting your home sold. To properly set your price, and your expectations, you will want to examine the record of home sales in your neighborhood over the past several months. It may sound daunting but your ERA Real Estate agent is here to help and can provide you with a Comparative Market Analysis (CMA).
The CMA will provide data regarding recent home sales (size, price and number of days on the market) as well as information about homes that have not yet sold. It allows you to view trends and other critical information that can be beneficial as you set a competitive price.
In addition to considering historical pricing information and market trends, it is recommended that sellers also think about including other incentives in the sales offering such as home warranty, assistance with closing costs, etc.
Work With a Professional
Experienced ERA Real Estate agents pride themselves on giving you an advantage in your local market. They can help you prepare your home for sale by facilitating pricing, physically preparing a home for sale, navigating negotiations and much more. Your ERA Real Estate agent is adept and experienced in working with other real estate professionals including home inspectors, home appraisers, mortgage bankers, title companies, and can guide you through the entire real estate process from selling a current home to purchasing a new home.
ERA Real Estate agents have first-hand knowledge of how to best market your home and employ an array of marketing programs to attract potential buyers. For a list of ERA Real Estate marketing tools click here.
Optimizing the Home Inspection
At some point in the sale process your home will be inspected. Planning a pre-sale inspection can help determine potential issues and enable you to address them prior to putting your home on the market so you are fully prepared for a smooth sales process.
Get the Job Done: Curb Appeal
Preparing your house for sale entails making your home appear "move in ready" in order to attract the greatest numbers of potential buyers. This is a critical element in your selling preparation. Creating curb appeal is no small feat but greatly worth it in the long run. To get started, follow the tips below.
- Inside your home, begin by removing personal effects such as photos and memorabilia. While these are the items that make your home yours, your goal is to create an environment that a potential buyer can envision as their own.
- Clean everything inside and outside of your home and develop a plan to keep your house attractive during the sales process. To help present the cleanest and brightest home, open the curtains and turn on the lights during open houses and when real estate agents are conducting showings.
- Consider enhancing rooms with a fresh coat of paint and be sure to repair items that need attention. While major remodels may not be necessary, broken items should be repaired.
- Outside, consistently maintain a mowed lawn and consider planting seasonal flowers. Also, trim hedges, trees and bushes.
For more complete information on how to prepare your home for sale, consult with your ERA Real Estate agent.
Prepare to Negotiate
In real estate, the final selling price is negotiable. Plan to negotiate when an offer(s) is received. For example, before you lower the price, you may be able to add value to the transaction by including appliances and / or closing costs. Your ERA Real Estate agent can assist you with crafting counter offers and negotiating tips and techniques.
Seal the Deal
Once you come to terms on the sale price, it is in your best interest to close the deal as quickly as possible. To more easily and quickly complete the transaction, it is prudent to have disclosure documents and home upgrade and enhancement records available.
Let Us Help
ERA Real Estate agents are committed to adding value during every step of your home selling process. To learn more about our ERA® community and locate an ERA Real Estate agent near you, click here.
It is important to have a game plan every time the property is being shown-from open houses to private showings. Here are some tips on how to make your home ready for "showtime" throughout the sales process. For a more complete list of how to prepare your home for sale, contact your ERA Real Estate agent.
- Put away pet food bowls.
- Clear the kitchen sink.
- Pick up all children's toys.
- Close garage door.
- Open shades and curtains.
- Turn on ever y light in the house.
- Play soft music on stereo/radio.
- Give the house a pleasant aroma-fresh bread, ?re in the ?replace, fresh ?owers, etc.
- Set dining room table with just plates and glasses.
- Set the thermostat to a comfortable temperature.
- Display house and community information prominently.
- Paid utility bills.
- Current property tax receipts.
- Real estate listing sheet.
- Floor plan (if available).
- List of upgrades you've put into the house (with dates if available).
- Map and/or list of community features and points of interest.
- Warranty information on appliances.