Family expanding? Job relocation? Simply tired of your house's layout? There are plenty of reasons why homeowners may seek to sell their property. While each home selling endeavor has a unique origin of its own, the selling of a home can be simplified into ten key steps.
The decision to sell is a big one. While “selling” your house feels like the goal, it’s integral to address the actual objective: sell it quickly, and for the price you want. Selling a home isn’t necessarily convoluted, but ensuring the process is worth it for you can prove tricky if unprepared.
We’ll be honest: there are few (if any) reasons to do home selling alone. Even if it’s not your first home, a reputable real estate agent has been through this process many more times over. The experience professional home sellers possess is absolutely invaluable, and each service is more than worth its associated price. Before beginning the home selling process, map out the key professional service providers you’ll need. Begin researching nearby professionals you may want to get in contact with, most important being a real estate agent, company, or professional community. You may need architectural or building professionals for last-minute upgrades and repairs, professional home stagers to help sell your home faster, and conveyancers for closing deals. Professionals note that it’s always best to shop around. See what people have to offer, and evaluate their personalities against your own, as well as your goals. This is someone in charge of a huge portion of your livelihood; make sure you like them!
Selling isn’t the same everywhere — that’s why realty experts are so crucial! Two home factors affect how a property sells more than anything else: location and property type. They determine demand and norms, changing how buyers see a space. Because the best way to sell depends on the type of property and where it’s located, all of your decisions should be informed by this.
It’s like they say: location, location, location. The location of your property affects how a sale happens. Some locations are more desirable and have more competitive markets, which affects the sales timeframe. If you’re in a highly-sought-after area, you may find it easier to get your listing price — if not higher.
When we think of selling, our minds go to traditional houses. But the truth is, most properties aren’t that! There are residential properties, rural properties, and even blocks of land with no existing structure. With regards to a residential property, whether it's a home, apartment, or condo can drastically change how it’s perceived and sold. What you’re selling changes how you go about listing and marketing the property.
There is one last factor that affects selling beyond the price and property: you. There's a lot that goes into selling a home, and being flexible is helpful. Hitting your ideal timeframe and property value isn’t always easy, so make sure to set realistic goals and listen to the advice of professionals.
Feeling prepared? Got your list of professional contacts ready? Great; it’s time to sell! While the actual process of selling your house may vary, these general steps will guide you through the process and try to keep surprises to a minimum. Always remember that a more informed seller is one likely to get their way; do your research, dive in deep, and take notes.
Lived-in spaces, especially over the years, may begin to appear, well, lived in. Market preparation involves turning a new leaf in your home, bringing it back to the basics with fresh upgrades, cleaning, landscaping, and staging. Fixes and repairs that you've had on the back burner should be completed now. It may be worth sinking some money into your house to raise its overall value, especially for big-ticket aspects like kitchens or master suites, which draw buyers in. Inside and out, upgrades and upkeep are a must.
There are three ways to sell: by auction, by owner, or through a traditional agent. Auctions may be online or in-person, and listed with reserve or as an absolute. Reserve is where a lowest acceptable bid is set, while absolute auctions give the home to the highest bidder no matter what. The latter increases the stakes but does often bring in more bidders. By-owner means you handle the advertising without the help of an agent. It helps save money on commissions, but be warned: this method is often lengthy due to the lack of connections homeowners possess compared to the networks of agents. The longer your house sits on the market, the less positively it is viewed, and it can increase carrying costs depending on your living situation. The last selling method is through a realtor or realty group. A realtor is the most efficient option; it saves time, saves money, navigates any confusing aspects, and presents access to a much larger network of professionals and potential buyers.
Who is in charge of selling your house can make all the difference. When preparing to search for an agent, decide what’s most important to you during the selling process. Be honest and transparent when sharing these needs and wants as you meet potential agents. The digital age has made getting in touch with realtors easier than ever, with multiple ways of searching for real estate agents. You'll want to research potential candidates, interview several, and see if they have references. If they do, genuinely give them a call. It’s helpful if an agent has experience selling in your particular neighborhood, but overall years of experience isn’t the best identifier of a good agent. When deciding, go with your gut; you will be spending a lot of time with them, and you need your personalities to mesh for the best communication possible to take place. If they’re good at talking and negotiating, you’ve got a good one.
Money is a touchy subject for many, and deciding what your home is truly worth can be difficult. Online calculators and price by square footage can be helpful, but shouldn't be totally relied upon for an accurate appraisal. During this stage, an expert real estate company is necessary. Real estate agents, or even an appraiser, will offer physical inspections that take into account the location, market conditions, and any special features of your home to give you the most realistic number possible. If someone else has recently sold nearby, you can also use that as a benchmark.
By this point, you should have an agent that you’re ready to work with. This is where a contract comes into play. It will detail the commission, fees, length of the agreement, exclusivity, and other working relationship aspects between you and your realtor. Ensure your contract looks sound, and then sign your listing agreement for an exclusive working period (typically three or six months). Once signed, you are legally obligated to work with this particular agent.
Vendor statements are documents that tell potential buyers necessary info on a property before signing a contract. They'll disclose any and all information about the property, especially that not necessarily detectable during a walkthrough or tour. It will cover building conditions, mortgages, lenders' rights, easements, covenants, renovations, zoning, outgoings, dangers (such as propensities for natural disasters), and any miscellaneous legal facts. A conveyancer handles the legalities of this paperwork, and if you’d like to avoid ramifications such as breaking the law or experiencing a terminated sale, it’s advised to get in touch with one.
With all the backend work complete, it's time to start showing off your for-sale home! Before anything else, your agent will get your home on the MLS: Multiple Listing Service. This database hosts all agent and broker-listed homes. Outside marketing is also necessary, and getting the word out properly can make or break a listing. Newspapers, magazine listings, and other print formats can be helpful, though their overall relevance and reader count is dropping. You can also use mailing lists and send direct mail, especially to nearby homeowners who may have family or friends wishing to move nearby. Most importantly is utilizing online property websites and property pages — especially because most of these are free. Your real estate agent will likely also list your home on the company's site. For digital listings, take professional-looking photos of the interior and exterior, and offer virtual tours if possible. Of course, there's always the classic marketing method of adding signage to the front of the home and along nearby streets. Just check with your homeowner's association first!
Open houses are an integral aspect of the home selling process, and they allow people to get a feel of what it would be like to actually purchase your home. There's no need to keep your home tour-ready constantly though; having one specific day or so for dedicated open houses allows you to avoid living in a constant state of a staged home. With that said, some opt to live elsewhere during this time period. Advertise any open showings efficiently by adding road signs, informing potential buyers, considering parking, and inviting neighbors. Similarly, you may want to host broker or agent open houses, which often involve light refreshments and socializing to encourage bringing back their clients.
Getting an offer is exciting, and an ideal arrangement will have both you and them happy. Buyers will likely also have a real estate agent on their side, and each agent will negotiate on their client’s behalf. There will be a period of negotiations, where contingencies may be set. There are lots of little considerations as you get closer to the actual sale, and an agent that knows their stuff will really shine here. H3
The settlement involves creating a sale contract, and you'll use a solicitor or conveyancer for the official paperwork. Once under contract, the sale isn’t totally official — not meeting certain contractual obligations on either the seller’s or buyer’s end can result in a canceled sale. However, once obligations are met and everyone approves, it’s time to hand over the keys and begin calling somewhere else home!
Things like home selling always take more time and money than you’d hope, and a single misstep can be costly for homeowners like you. Good professionals will make this process less stressful, and potentially even stress-free.
Of all the things that will sell your home, being organized throughout the process will help the most. At Taelah, we make home buying and selling easier through the use of human-assisted artificial intelligence. Our high-tech concierge service for property sales gives you professionals to chat with, invaluable home selling insights, and lists of things to do in order to sell your home. Sign up today and see how much simpler home selling can be!
Selling your home is no easy process, but it can be simplified with the help of experts. Because realtors have access to a wider network, higher skill set, and more potential buyers, it always makes sense to have a professional on your side. Marketing and selling your property depend on the location, property type, and your personal goals — the latter of which is influenced by your realty agent! Check out ten steps of home selling, and see why having professional services like those on taelah is a must.