Are you planning to sell your house? Want to make the home selling process smooth and stress-free
How simple would it be to just list your house, find a qualified buyer, receive your asked price, and give them the keys? Unfortunately, the home-selling process is quite complicated because some factors are beyond your control.
With our years of experience in the real estate industry, we have uncovered the step-by-step process to sell your house and effective home-selling strategies that will help you get a higher sale price.
Let’s read this roadmap to find out how to attract potential buyers for a successful sale!
#7 Essential Steps To Sell your House in 2023:
Undoubtedly, selling a house isn’t an easy process. But, with the right approach and under the supervision of a skilled real estate professional, you can successfully sell your home, handle the paperwork, and close the sale. Let’s take a quick look at the steps that you should go through to prepare your home for sale.
1. Prepare & Stage your Property for Sale
To increase the odds of selling, and get the asked price; make sure your house is well-maintained, upgraded, and marketable. You can get the desired sale prices by yielding fixtures, minor repairs, installing new appliances, and renovations. Make sure your home is clean and clutter-free from the inside out. Most buyers make their decisions based on the first impression of your house. So, it’s better to prepare your house for sale before listing and finding qualified buyers. Remember to emphasize your property’s best sites and features.
Note: You can also opt for a professional stager to reorganize your house’s interior & Exterior as well. Don’t worry, a few extra dollars spent on the stager will not only add value to your home but also helps gain more buyers.
2. Decide the Selling Price
Be very careful when you are about to quote the price of your house or property. Make sure to determine & set a suitable price for your property. As overpricing will make it out of reach for genuine buyers. Whereas low prices will degrade the property value.
How to determine your home’s market value?
The easiest way is to consult real estate agents, read classifieds, etc. to know the market rates in your location, and region. Also, find out the price at which comparable properties were sold in your neighborhood recently (last 3-6 months).
3. To Hire a Real estate agent
Do you know a real estate agent may charge a commission of up to 6% of the profits earned from selling a house? But they are smart enough to sell your house successfully at a higher price.
So, what are the responsibilities of a real estate agent?
An experienced, and licensed real estate agent can help you from navigating the selling process, pricing your property on Multiple Listing Services (MLS), marketing it to potential buyers, and negotiating offers to officially closing the house sale.
To make your house more presentable, and marketable, the agents also spruce up the interior and exterior of your house. In short, agents will be there for you until you get the asked price.
Note: Always hire a skilled & local real estate agent with years of experience in selling similar properties. We suggest contacting the former or latter clients to know their reviews & feedback.
4. List your House on MLS (Multiple Listing Services)
The next step after finding a real estate agent is to showcase your house on MLS to attract potential & genuine buyers. So they can easily search and find your property online in the local region.
But, before listing your house you need to:
- Hire the local agent
- Decide the competitive & fair asking price.
- Compare the prices of properties sold nearby.
- Check if there are any renovations & repairs or recommended upgrades by your agent.
- Upgrade or fix kitchen appliances, or install new windows.
- Maintain the front and back yards (ground covering, planting new trees).
- Get a professional photoshoot of your property (most important).
5. Review and negotiate offers
Once you have listed your property, you’ll start receiving offers from several possible buyers. If you have already hired an agent, they’ll help you review, evaluate, and negotiate the offers on your behalf.
Generally, the real estate agents of buyers send written offers that include the final price they can afford to pay. Keep in mind that the price isn’t the same as listed on MLS. Rather it is usually lower than the asked price.
Fortunately, if the demand is higher in the seller’s market, you may get a better price i.e. above your asked price to grab the offer.
You have three options to respond to the received offer:
- The first is to accept the offer as it is.
- The second is to reject the offer
- The third is to make a counteroffer if you are interested in buying the property.
6. To Accept the Offer
If somehow, you liked and accepted the offer, you have to sign the contract with the buyer that includes:
- The Sales Price.
- Payment details
- Final date when you’ll hand over the keys, and
- The buyer will move to the property.
If there are any contingencies like a home inspection or other such requirements, you can discuss them with your real estate agent. Usually, buyers make a request to repair the damages or upgrade the property, and provide money for fixtures which are deducted from the final sales price. As the buyer has the authority to withdraw, and walk away at any point if they are not satisfied or their requirements are not fulfilled.
Below are some common contingencies from a potential buyer:
- Home Inspection
- Sale of another property
A buyer may also ask for appraisal contingency while making an offer. It usually happens when the buyer is borrowing money from the mortgage lender to buy the house. If the allowed appraisal is lower than the cost of contingencies then the lender may ask you to slightly reduce the sales price.
7. Close Your Home Sale
The final step is to close the home sale after the home inspection or other essential contingencies are complete as requested by the buyer. The seller and buyer can mutually choose a location where they can complete the paperwork, and finalize the sale along with the:
- The real estate agent.
- the title company, and
- a closing attorney
Nowadays, virtual meetings are also arranged to close the deal and save time, if agreed upon by both parties.
Note: The buyer has to bear the expenses of the closing cost, title insurance, and other tax implications.
Home Selling Tips to Sell your House Successfully
Here are some additional home-selling tips that can help increase the odds of selling, and the number of genuine buyers. Take a look!
Create curb appeal
To convince the buyer, and make your house look more attractive, and different from other properties; it’s important to create an everlasting impression. So, they won’t be able to reject the property. You can consider deep cleansing your house, repainting, landscaping, and upgrading the property by installing energy-efficient devices.
Depersonalize your home
When showcasing your house to the buyers, don’t forget to remove your personal items like awards, trophies, family photos, unique decor, or other such things. Keep the space clean, and basic.
Clean and declutter
Make your house clean, organized, and clutter-free to attract buyers. We suggest highlighting the property’s best features.
Set a realistic price
decide a suitable price that is neither too low nor too high for your house. It’s better to consult a local realtor who is aware of your community and can guarantee market success.
To accommodate genuine buyers’ schedules, be available for showcasing your home at flexible times. Don’t forget to show them the best features of your house.
Use high-quality photos and virtual tours
For MLS listings, upload the high-quality photos and virtual tours online to make your home stand out from other listed options.
Be Responsive & Patient
Try to immediately respond to buyers’ inquiries and offers received from potential buyers. It helps build trust and keep prospective buyers interested. Also, don’t get impatient if you are not getting asked the price as the real estate market is quite competitive. It takes time to find the right buyer.
FAQs about Selling a House
What improvements should I make before selling my home?
We suggest preferring money-making Improvements that can help you gain better RTI. Plus they also increase the overall value of your property. It includes flooring, landscaping, painting, repairing damages, replacing outdated fixtures, or upgrading appliances.
Should I hire a real estate agent to sell my house?
Once you have hired a qualified real estate agent, they‘ll be by your side until your house is sold at the best price. They’ll assist you to determine the right price for your home, market it effectively, review the offers, and negotiate with buyers on your behalf.
How long does it exactly take to sell a house?
The time to sell a house can vary depending on several factors including the price of your property, the local real estate market, and the used marketing strategy.
What are some common mistakes to avoid when selling a house?
The first thing is to not set a higher asking price for your house. Also, never neglect essential renovations & repairs required to stage your property for sale. If possible, hire a professional for a home inspection, so you can make the required alterations.
Our Final Words on selling a house
Selling a house is an overwhelming and challenging process. You need to understand that the house-selling process takes a lot of time & dedication. But, the selling procedure can become easier, and quicker if you have a qualified real estate agent on your side. They can help you from staging the house, and gaining more buyers to finalizing the sale at your asked price. So, do your research and if you need support, we suggest finding a trustworthy listing agent.