Selling your home
Putting your home on the market may seem like a daunting task. It is probably one of the biggest and most important transactions you will ever go through, which can make the whole process seem overwhelming. Yet with the right level of preparation and professional guidance, you can break down the process of selling your home into smaller, more manageable tasks.
This full process can run a lot more smoothly if you are working with a good real estate agent. They should make you feel comfortable and have the expertise needed to market your home effectively.
Selling Your Home Tip 1: Planning
As mentioned above, the first step is finding the right real estate agent. After making the major decision to sell your home, you’ll want to explore all your options and interview several real estate agents. This will increase your chances of finding the right one to meet your real estate needs.
Tip 1a: Agree to a contract, term, and commission.
You’ll need to come to an agreement with the real estate agent of your choice regarding the term that your property will be listed for, and what the commission rate will be. This will be put into a listing agreement.
Tip 1b: Agree on a marketing plan.
A good marketing plan will incorporate a wide range of media, and will showcase the best features of your home. You can monitor the success of this plan by asking your real estate agent to give you weekly updates. They should be able to tell you how many calls, website visits, and offers they have received. At the same time, you can expect your agent to provide you with data compiled from a Comparative Market Analysis. This will help show you how your property measures up to similar houses in the area.
Tip 1c: Choose the right price.
In many cases, a real estate transaction’s success will boil down to the price. A buyer will often be willing to overlook flaws if the price is right. The lesson you can gain from this is that it’s not worth the cost of improving your property if the sale price won’t cover the costs you’ve incurred to do so. Yet at the same time you shouldn’t expect to fetch the highest possible sale price if there are obvious flaws to your home. You may be able to make small yet significant repairs that can raise the value of your home. Simply replacing the knobs on your dated kitchen cabinets could increase your home’s perceived value. However, if you live near a busy motorway this is something that you can’t fix. Buyers will certainly see this as a negative and choose a price that reflects these factors.
Selling your Home Tip 2: Preparation
Along these same lines, you can increase your chances of a successful outcome by preparing your home for sale. This is something that is best discussed with your real estate agent. You can talk about which types of repairs or other preparations can be made to potentially raise your sale price and make your home more attractive. Find an agent who knows your local market by calling Raine and Horne Toronto before you begin.
Tip 2a: Make necessary repairs.
It’s time to ask yourself whether your house is really ready to be listed. This is also an issue to discuss with your real estate agent. It’s helpful to have an outsider review your home in an objective manner to seek out possible room for improvement. You don’t want to leave this task in the home of friends or family, because they may not notice any faults or may not wish to be rude by pointing out flaws.
Think about how you felt about your home when you saw it for the first time. Were there certain features that you decided to fix later, but never did? Perhaps you had dated kitchen light fixtures that have never been replaced, because you have simply gotten used to them. This is why it’s so important to seek out an objective opinion from your real estate agent or another third party. With the help of an experienced agent, you can jot down a list of small repairs that you can take care of before putting your property on the market.
Tip 2b: Clean and de-clutter your home.
One of the cheapest and easiest ways to prepare your home for sale is to remove your house of personal clutter and belongings. Although this can take a bit of time and effort, it can make a massive difference in the home’s appearance. Go through each room and remove everything save the essentials. This includes clearing closets, and removing personal collections or toys. You can also remove paperwork, appliances, and decorative objects from cabinets and kitchen counters. Remember that a buyer wants to envision their own possessions in the home, and having excess clutter around could be a turn-off.
Tip 2c: Make your home look its best both inside and out.
Although it’s stated often, it’s an extremely important fact to remember: curb appeal can be the most important factor after price in determining whether or not a buyer will actually want to see the rest of your home. First impressions are extremely important, and the exterior of your home is what a buyer will see first. You can make the exterior of the home look its best by sprucing up the garden and applying a fresh coat of paint to the property if necessary.
With the home now spotless and free from clutter, you can think about ways to showcase the function of each room in the property. If you have a spare room you use for exercise that is currently filled with equipment, you might want to think about setting it up as a third bedroom instead to lure in a wider range of buyers.
With the help of your real estate agent, you can accentuate all the best features of your home both inside and out.
Selling your Home Tip 3: Follow Through
It’s tempting to kick back and relax once your home has been properly prepared for sale. However, your work is not over. With the house on the market, you’ll then need to think about keeping it show ready. You should always be ready to show your home at a moment’s notice if necessary, which entails keeping on top of the clutter.
You’ll also want to set up regular appointments with your real estate agent to discuss how the marketing and pricing strategy is working. If a particular aspect isn’t working for you, feel free to make amends. It could be that your real estate agent isn’t generating the volume of traffic you had expected, which means that it’s time to examine the facts and find out why.
Be sure not to let an emotional attachment to your home or feelings about your agent affect the business decisions you make. A buyer may want a specific item include in the sale, for example, but it’s common for a homeowner to be reluctant to part with these things. Unless it’s something you can’t easily replace or a family heirloom, it’s best to go forward with negotiations.
Your real estate agent will help you throughout this process of preparing to sell your home. You can find a qualified agent to work with by calling Macquarie Realtors Now.