GUIDE TO SELLING

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Everyone homeowner wishes for a quick, stress-free home sale.  They hope their home sells quickly to a qualified buyer and at their dream price.  However, the reality is, there are a lot of factors and moving parts when it comes to selling your home. 

Many homeowners believe they can save money by selling their home on their own and not pay an agent's commission.  The internet does offer many tools that homeowners can use to market and sell their own home.  If done right, homeowners can actively market their homes on most websites.  The number one reason homeowners choose For Sale By Owner (FSBO) is to save money on the real estate commission.  Homeowners also have full control over the selling process.  However, if you look at sales statistics, you will find that majority of homeowners choose to list their home with a real estate agent.  

• 89% of sellers were assisted by a real estate agent when selling their home*. 
• On average, the typical FSBO home sold for for 26% less than agent assisted home sales*.

Most FSBO sellers still have to pay a commission (buyer side commission).  In addition, FSBO listings attract fewer offers than agent-listed properties.  There are many benefits in hiring a real estate agent to help sell your home.

• They have the professional experience and resources to sell your home.  As licensed professionals, they have the skills, knowledge, education, experience, and training.  They know the legal rules and regulations of buying or selling a home.
• They have the expertise and in pricing and marketing your home in the current market.  They are constantly tracking market conditions and make note of any changes that could affect your home's value.
• They have access to the Multiple Listing Service (MLS), the #1 tool used by agents to list and find homes on the market.
• They have valuable insight on how best to prepare your home for sale, from photos and staging, to timing and pricing. 
• They have a wide network of vetted vendors and contractors to help you prepare your home for sale.

Most realtors are introduced to clients via referrals from family and friends.  However, the internet makes it simple for anyone to find a local agent in the area.

 *Source: 2020 National Association of REALTORS® Profile of Home Buyers and Sellers 

Selling a home can take anywhere from 2 to 4 months from start to finished or even longer depending on market conditions and seller expectations.  You should start reaching out to potential listing agents a few months before you plan on listing your home so that there is enough time to prepare your home.

Although not required, homeowners have the option of doing a pre-sale home inspection prior to listing their home.  This can help identify any problems ahead of time and allow the homeowner to address them. 

Your real estate agent will walk through your home and give their advice on preparing and staging your home for pictures and showings.  If you decide you want to spend money on upgrades, your agent can provide input on what they think will give you a return on your investment.

Your real estate agent will have professional photos taken of your property and begin to market it as soon as it's ready.  Every agent has their own marketing approach so it's good to understand on your agent plans on marketing your home, whether it's from print advertisement, social media posts, or some other form of advertising.  

Once your home is officially on the market, it is important to keep neutral, clean, and ready for showings.  Potentially buyers want to be able to visualize themselves in the space.  Too much clutter or personalized items could cloud their vision. 

Ideally, once your home is on the market and buyers have flooded to see it, the offers will start rolling in.  There is where your real estate agent can really shine.  They will guide you through the process of reviewing each offer and deciding whether to accept the accept, negotiate and counteroffer, or reject the offer.  When reviewing offers, make sure to take into consideration the following items.

• Purchase price
• Is the buyer paying in cash or financing?  What type of financing?
• Down payment amount
• Contingencies
• Proposed closing date  

Once you have accepted an offer, the buyers will have an attorney and inspection period that allows them the option to have the property professional inspected.  They then have the option to have an attorney review the inspection and contract.  If the buyers are financing the purchase of their home, the bank will most likely order an appraisal of the property to determine the value.