What exactly goes into the home selling process? Today I will break things down into five key phases.
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If you’ve never sold a home before, it can feel overwhelming to anticipate what you should expect from the process. To alleviate some of the confusion surrounding this subject, I’m going to break down the selling process into five simple phases.
1. Planning and analysis. This is the point where I join clients at their home to start examining it from a seller’s perspective. Together we will discuss whether any improvements could be made to the home’s curb appeal or interior. And if such improvements are needed, we will also take this time to have a conversation about the best course of action for addressing those things. Decluttering, cleaning, and staging are just a few examples of what you may need to do to earn top dollar for your home.
I will also perform an analysis at this time, during which I’ll compare recently sold properties in your area to help you better understand what kind of bottom line you can anticipate. We can then talk about your post-transaction plans and develop a strategy based on your goals, as well as your current and future needs.
2. Preparation and marketing. This second phase represents the point at which we’ll begin to execute the to-do list we developed in the previous phase. This is also the point where we’ll create all marketing materials and digital assets like photos, videos, and 3D virtual tours of the home. These elements will be implemented into the marketing plan, which will connect your listing with a number of online real estate portals. Our plan will also work in conjunction with a digital ad campaign designed to draw buyers to your listing.
3. Showing. You will need to be prepared to show your home at any time. Recently, one of our clients was contacted by an agent who wanted to see their home for a showing within just 20 minutes. The seller was put off by this request, but I encouraged her to go through with making the appointment. It’s a good thing she did, because it turned out the buyer was from out of town and was leaving immediately after the appointment. They ended up making a full-price offer.
Listings being shown to buyers should be light, bright, and give off a pleasant ambiance. When you work with our team, we’ll give you feedback after every showing. It’s during this phase that we’ll also let buyers into your home in the form of open houses.
Throughout each phase of the process, you should stay focused on your larger goal: selling the home.
4. Offers and negotiations. When you receive an offer on your listing, I will perform a net analysis to determine exactly what kind of bottom line it would earn you.
5. Contract and closing. After accepting an offer, don’t forget that you still have to “sell the buyer.” This means keeping your curb appeal fresh so that whenever the buyer drives by before closing, they will feel reassured and excited about their purchase. The interior of the home must also look great whenever a buyer visits during their due diligence period.
And the buyer isn’t the only person who will be checking out your home at this time. The inspection process will put your property to the test, as well. After you get the inspection results, the addition of a repair addendum to the contract may be negotiated. Don’t get hung up if a buyer is requesting a small repair. Stay focused on your larger goal: selling the home.
But, even after the inspection process, you won’t be ready to pack just yet. You still need to pass the appraisal, which will verify the value of your home. It’s only after the home appraises successfully that you can and should start packing.
Two days before closing, the buyer will do a final walkthrough to make sure the home is in the same great condition it was when they originally wrote the contract, so leave the utilities on at this time. And when the day of the closing comes, you will meet with the buyer, the buyer’s agent, and attorney. Then after 30 to 60 minutes of signing paperwork, you’ll turn over your keys and garage door openers, and then be done with the deal at last.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.