Step 1: Reason for Selling
Deciding to sell your home can be a very emotional process, no matter the reason. The first step in selling is to understand your motivation and goal. If you are selling because of outside circumstances, you probably have a timeline to work within.
Why do you want to sell your home?
- Need more space for your growing family
- Job relocation or to be near family
- Better school districts
- Change in lifestyle
Step 2: The Cost of Selling
It is very important to first calculate the expenses that may be incurred while selling your home. This knowledge is absolutely necessary because it helps you to determine a good price for the house, as well as the potential profit that you can realize.
The cost of selling your home may include things like commission to be paid to the agent, taxes, advertising costs or specific reports, such as a property inspection.
Step 3: Price
The most important factor when putting your home on the market to sell is setting the right price. The price at which your property is marketed can make or break the deal.
Over-pricing of the property may result in:
- A smaller buyers’ pool
- A prolonged stay on the market that will result in lower offers being submitted
Under-pricing of the property may result in:
- You losing money on your investment
- A buyer offering an even lower amount due to a negative perception of the property or area
Step 4: Location
Although you cannot do anything about the location of your property, it plays a very important part in the marketability of your home. So, it is important to take the following into consideration:
- Is your property priced in relation to other offers in your area?
- What type of neighborhood is your property located in well-established, up-and-coming, transitional?
- Is your property located in an urban or rural area?
Step 5: Condition of Your Property
In a buyer’s market, sellers are competing to get their homes sold. In a seller’s market, inventory levels are usually low, and buyers must compete for available homes. This doesn’t mean that your house will sell as fast as the competition if it doesn’t show in it’s best light. Buyers are still picky.
Think like a buyer and take an unbiased look at your property.
- Does it have curb appeal? You may want to plant some seasonal color to brighten up the yard.
- Is the landscaping neat and well kept? Keep the grass trimmed and flower beds weeded.
- Does the exterior and front door feel inviting? Add interest around your front entrance to make it look inviting to potential buyers.
- Do the décor and staging highlight the best features of the home? Cleaning, decluttering, and staging is important, but now you must maintain it at all times.
If you need to do a little extra sprucing up to make the home more desirable, take the time to do it right. It can mean the difference in getting top dollar for your house and selling in a timely manner. Your Keller Williams Agent can advise you on preparing your home.
The condition of your property is always a factor in how quickly your home sells. It’s a fact: acquiring the highest market
Step 6: Staging
Did you know well-placed furniture can open up rooms and make them seem larger than they are? Or, that opening drapes and blinds and turning on lights make a room seem bright and cheery? It’s true, which is why staging your home to look its absolute best is an important factor in the selling process.
Here are some inexpensive ways to highlight your home’s best features:
- Clean or paint walls and ceilings
- Clean all flooring and fixtures – lights, fans
- Repair all plumbing leaks
- Remove excessive wall hangings, furniture and extra personal goods
- Turn on all lights and open the drapes during the daytime
- Keep the grass cut and yard clutter to a minimum
- Apply fresh paint to any wooden fences and your front door
- Clean windows inside and out
- Wash or paint your home’s exterior
- Ensure gutters and other exterior fashions are firmly attached
Step 7: Accessibility
Accessibility is a major issue in many parts of the world. Again you cannot do anything about your home’s accessibility to specific things, but it does play a role in the price of your property. Your agent will work with you to highlight the places of interest that are most accessible to your home.
Here are a few important areas to think about:
- Public transportation
- Main roads
- Shopping centers
- Schools and other educational institutions
- Outdoor areas – public pools, parks, playgrounds
How much is your home worth?