#1 Preparing to Sell your Home
The first question you might want to ask yourself is, “Why do I want to sell my home?” Do you need more space? Are you an empty nester looking for a smaller space? Have you accepted a job in a different part of the country? All of these questions affect the potential sale of your home and the negotiating process of that sale.
You may also want to begin making a list of all of the interior and exterior projects that you want to complete before placing your home on the market.
Contacting a Executive Real Estate Real Estate Agent will point you in the right direction, too. Our agents have the knowledge and understanding of the industry. They can provide reliable information and get you moving in the right direction towards the sale of your home.
#2 So You're Ready to Sell your Home
Assessing your home is key in beginning the home selling process. You may want to ask yourself, “What would I like to see or not see if I were touring this home as a potential home buyer?”
Problems like chipped paint, dirty walls, windows and doors, unfinished remodeling projects and cluttered garages are all areas for home selling improvement. Treat the sale of your home as you would with any day living in your residence. Neat, tidy and organized works!
#3 You're Ready to List
Before you list your home, it is important to do your homework on the real estate companies in your area.
- Search the Internet for your local real estate companies.
- Review local publications for agent advertisements.
- Call each company to compare commission fees, marketing campaigns and yearly sales volume.
- Talk to your friends and neighbors. 9 times out of 10, someone you know has sold their home and can provide a credible recommendation to point you in the right direction.
When choosing a real estate agent, do not be afraid to meet with many different agents. Thay are, after all, competing for your business. This competition is what makes the real estate industry successful.
Feel free to ask them the following questions:
- How many years of experience do you have in this industry?
- What is your selling experience in my community?
- What professional certifications do you hold (ex. Certified Residential Specialist–CRS)?
- What services will you provide for me as my agent?
- How will you represent my property?
- Can you provide a market analysis for my property?
- How will you determine the price of my home?
- What is the fee for your services?
- Can you provide all of the different scenarios with the sale of my property? (as far as commissions and fees)
- Can you explain the paperwork that I will need to sign?
- What is the timeframe for listing my property with you?
#4 Determining Property Value
There are a number of factors that go into determining the value of a home.
It is realistic to compare the homes in your area and the asking prices of those homes.
The law of supply and demand always comes into play. Do you live in an area with increasing job opportunities or an increasing supply of homes?
Owners needs greatly impact the selling price of a home. Do you need a quick sell or do you have time to sit on your sale?
The selling price is not cut and dry. On many occasions, the seller will negotiate the price, split closing costs or offer different allowances to the buyer, to make the sale of the home complete.
Only a qualified Executive Real Estate agent can provide a fair market analysis of the homes for sale in your area. A Market Analysis is usually free and without obligation. For more information on how to receive a FREE Market Analysis that will help you properly determine the value of your home, contact Executive Real Estate at, 860-633-8800 or contact us here.
#5 Getting Your Home Out There
There are a number of different ways that an agent can drive traffic to view your home:
- Multiple Listing Service (MLS)
- Open Houses
- Print Advertising
- HOMES™ Magazines
- Executive Real Estate Marketing Strategies
#6 Selling Your Home
An acceptable offer depends on many different things:
- Is the proposed offer near the asking price?
- The timeframe of the seller – Does the seller have another house payment? Insurance?
- Does the owner have enough time to wait for the agent to bring them more potential buyers?
- What if the home is listed and never receives a single offer?
- What if several offers are received at the same time?
When potential buyers are searching for a home, they can respond in three different ways to the seller(s):
- This home is not what we were looking for. We are not interested in the property.
- We are interested in the home and we will purchase the property on the buyer’s terms per the real estate agreement.
- We are interested in the home, but here is our counter-offer for the property.
This negotiating process can at times seem very complicated. However, if you are equip with the right Executive Real Estate agent, all of this can be made hassle-free.
During the negotiating process of the sale of a home, the seller can react in one of three different ways:
- Accept the buyer’s proposed offer
- Decline the buyer’s offer
- Make a new counter-offer
#7 Saying Goodbye To Your Home
The closing process is always changing. It is even referred to as “settlement” or “escrow” in different parts of the county. With increased technology, most closings are completely automated and both parties do not have to be present at the same time to sign.
Closings usually take about 30 days to complete. This mainly depends on the buyer’s financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, termite inspections, surveys and appraisals).
The closing process is the transfer of the title of the property from the buyer to the seller. The buyer will receive the keys to the home or the deed to the land, while the seller receives payment for the property. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes and any additional closing costs. All legal papers are filed with the local record office.
It is this step where the buyers and sellers do very little. It is important as the seller to take a final walk through the property to make sure the property’s condition as not changed. It is equally important for both the buyer and seller to make sure the paperwork they are signing reflects the agreement of the original sale.
#8 Surviving the Move
Moving can be one of the most emotional times in your life. The thrill of something new … new career, a new neighborhood, a new home. While this may sound great to some people, for others, these changes can be an emotional rollercoaster.
The key to surviving your move is to first analysis the situation. You may want to ask yourself this question, “What does my move entail?” “Will I be moving across the country or just down the block?” “Could I handle the move myself, provided I have the right packing materials and friends to help” Or “Do I need to explore the option of hiring a professional moving company?”