The home selling process, otherwise known as the listing process, can be just as complex as the home buying process. There are many moving pieces involved, so we decided to outline the home selling process, step by step, to help you know what to expect. Certain details can vary a little from state to state, but this checklist can serve as a general guide when getting ready to list your home. In what is arguably a seller’s market, it is an opportune time for homeowners to refine their home selling strategy and maximize their sale. If you are considering the home-selling process by teaming up with a listing agent, Marsh Landing Realty can walk you through the process, ensuring you get the best price for your home.
Listing Your Home
The first step on the path to a successful closing is listing your home with a listing agent. A listing agent represents you and has the job of serving your best interest as a seller. It’s smart to meet with a few different agents and hire based on experience and how well they are able to assist you from beginning to end. Your listing agent should come up with specific improvements and modifications to enhance your home’s sellability. You should ask several questions about your listing agreement, such as how long will your home be listed and the commission you will pay for the agent’s services. If you don’t have the time or don’t want the hassle of figuring out the process on your own, then hiring a real estate agent is a great option.
Pricing Your Home
You want your home at a listing price that is just right. Placing your home at a listing price that is too low may make buyers think something is wrong with the home. Placing your home at a listing price that is too high may deter buyers from considering your home and will ensure your listing is on the market longer than necessary. Your listing agent will come up with a Comparative Market Analysis that will analyze the prices of homes that have recently sold in your area that are similar to yours in terms of size, location, and features. This Comparative Market Analysis will only add to your agent’s knowledge of current trends in the market and then will be the final determinant of your home’s listing price. It is always smart to keep your price in line with the recently sold homes in this Competitive Market Analysis in order to sell your home quickly.
Devise a Marketing Plan
Having a concise marketing strategy will make your home visible to potential buyers in a variety of ways. Once your home is entered into the Multiple Listing Service (MLS), it should be listed on a variety of local and national websites, including Zillow. Your agent should identify the main selling points of your home and should saturate the internet and social media with photographs and descriptions with the best advertising words to peak potential buyers’ interest. Professional photography and virtual tours are a great way to showcase your home online, especially in today’s virtual focused marketplace.
Showing your Home
Working with your listing agent to prepare for open houses is the next step to selling your home. Hosting open houses and receiving feedback from buyers is a good way to determine whether or not you need to adjust the price of the home, the condition of it, or the marketing campaign. Using a lockbox or keypad to show your home is a way to generate more showings because it allows easier access when you cannot be there to personally show the home. Being as accommodating as possible for interested buyers will maximize the number of showings your agent can make.
Negotiate the Purchase Price
If your home is priced right, you might receive multiple offers. If your agent has informed you of an offer on your home – congratulations! Now is the time for negotiation. The great thing about selling a home in a seller’s market is that there is often room for negotiation. Never ignore any offers, even if it does seem low. Your agent will be your guide to arriving at a price that both you and your buyer agree upon. Work with your agent during this time to make and accept the best possible counter-offer. A formal contract that is written by the buyer’s agent and signed by the buyer will be submitted to you for review and consideration. Compromise is vital in order for all parties to be happy.
Escrow & Property Inspection
Once the seller and buyer have reached an agreement on a purchase price, they will enter a period called escrow. Your agent or transaction coordinator will open escrow and order a title policy for you. During this time, the buyer and seller will await the closing and move-out date. Scheduling an appraisal and conducting a property inspection happens during the escrow period as well. To make sure that the negotiated purchase price was fair to the actual property value, the buyer’s prospective lender will typically require a property appraisal. It is important to keep your home clean and organized before the appraisal appointment. After the appraisal results come in, then property inspections are conducted. These inspections help buyers confirm that they are purchasing a home that is in the condition for which it appears. If there is anything wrong with the home that is considered a serious underlying issue, then the buyer has the right to back out of the deal or renegotiate. If this happens, work with your agent to find the best middle ground for your and the buyer. If the buyer had any contingencies when you initially went to contract, this is the time to ask them to “release” them meaning all issues have been resolved.
Prepare for Closing
Once you sign escrow documents, it is finally time to attend your closing appointment. Here you will sign the final paperwork and hand over your keys. Before you sign the final documents, communicate with your agent to make sure the title company and mortgage lender have everything covered for you. You can start breathing sighs of relief as the documentation and paperwork are signed. Once everything is signed and verified by all parties, the property has officially been sold. Congratulations!
We hope you find this overview of the listing process helpful. If you are selling, Marsh Landing Realty will work tirelessly to promote your best interest with exceptional service. Our realty team will expose your property to the widest possible range of qualified buyers. Real estate can be challenging, let Marsh Landing Realty help you list your home today!
Visit our website here https://secure.sdjax.com/~mlccrealty2/ or call us at (904) 285-6514