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Whether the space you’re in isn’t feeling quite as spacious as it used to or you’re looking to cash in on the equity you’ve worked hard to build in your home, you found your way to this guide. Welcome!
Selling your home is a major financial decision that requires careful planning and execution. To get the most money and a hassle-free selling experience, you need to follow a series of strategic steps. In this blog post, we'll discuss nine key steps to selling your home in the most efficient way possible. From connecting with a trusted real estate agent to setting the right price, making necessary repairs and improvements, staging, scheduling showings, and planning your move, these steps will guide you through the entire process and help you achieve a successful sale. Whether you're a first-time seller or a seasoned homeowner, these tips will ensure you get the best deal possible in the competitive real estate market of 2023.
Let’s get into it.
1. Finding a Realtor
The first step is to connect with your real estate agent. Finding the right agent is crucial to guiding you through the selling process. You can start by reaching out to a few agents in your area or asking for recommendations from friends and family. You do not need to work with the first agent you meet. Once you've found a few agents, it's important to interview them and choose the one you feel most comfortable working with. Asking for a few of their past clients to chat with and get their perspective on the experience will give you even more insight.
As a quick note, I say this not as an agent you might want to work with (oh, hey there) but as someone who has seen sellers rinse and repeat this pitfall. You are not obligated to work with family or friends that are agents. If your family member or friend is a great realtor, please work with them. I do not want to be the reason for any bad blood at the next family gathering.
If you decide to work with someone close to you, my biggest piece of advice is to set boundaries and expectations up front. I’ve seen too many realtors become lazy and relaxed when working with family, letting things slide because you know them well and might give them some extra leeway. This is still a business transaction and they should be representing you to the fullest of their ability to help you make as much as possible on your home.
Alright, mini-rant concluded.
2. Analyze Market Conditions
The second step is to evaluate the market conditions in your area. This involves looking at recent sales of homes similar to yours, known as comps, to get an idea of what your home is worth. It's also important to consider your personal goals for selling and the current state of the housing market to determine if it's a good time to sell.
Work hand-in-hand with your agent for direction in this step. Use their advice and do your research. Is inventory low so sellers have multiple offers coming in (as of writing this in May 2023, that is the case) or are there a lot of homes on the market just like yours that have been sitting for months?
Your realtor should be know the conditions and can advise accordingly. But, doing your own digging will help you feel more involved in the process and better understand why your home may sell fast or slow.
3. Updates to Improve Your Home’s Value
The third step is to make updates and repairs to your home. This can significantly increase its value and appeal to potential buyers. Consider fixing any known issues, updating old systems, and making cosmetic changes like painting or landscaping.
Items like your HVAC system, roof, electrical, plumbing, and any exterior damage can greatly increase buyers’ interest in your home. Most buyers want a home that is move-in ready (or pretty close to it). This is especially important if there are a few homes for sale in your area similar to yours. Buyers will take into account the age of systems and factor that into costs they may have to pay in the near future when comparing homes.
This is not to say you need to go crazy with repairs. Homeowners know if they’re not buying new construction there are certain repairs everyone will have to make eventually. Taking care of the major items at the beginning can help you sell much sooner.
4. Curb Appeal
The fourth step is to clean and declutter your home to make it more attractive to potential buyers. Removing any personal items, clearing out excess clutter, and deep cleaning every room is crucial.
You would be surprised how many buyers see a dirty home and assume that the sellers did not take very good care of ANYTHING. The worry is that they may need to make more repairs in the future because the sellers didn’t do any maintenance. While this is a large leap in logic, if a buyer is looking at multiple homes, sometimes they have to knock homes out pretty quick based on what they see.
Hiring cleaners or taking a weekend (or two) to deep clean and organize can make a world of a difference. And, if you’re still living in your home while selling, you get to enjoy an extra clean home! Win-win.
Don't forget about curb appeal, as the exterior of your home is the first thing buyers will see. Keeping the lawn mowed and weeding are two simple places to start. If you can pressure wash the driveway or sidewalk to the door, every little detail adds up.
5. Stage Your Home
While not necessary, staging your home can help it sell faster and for a higher price. Consider hiring a professional stager or doing it yourself by rearranging furniture and adding decorative touches to make your home feel more inviting.
Imagine walking into Ikea and instead of walking through staged rooms, you went to any empty space where the couch would be and listened to someone talk about the different couches. You might still buy one, but there’s something about sitting and seeing an example of what it could look like that helps you picture it more clearly.
Your home does not need to look like Ikea, but having an organized living space or staging can help buyers feel more at home.
6. Schedule High-Quality Photos
Once your home is ready to be shown, schedule a professional photographer to take high-quality photos for your listing. These photos will be the first impression buyers have of your home, so it's important to make them count.
A majority of buyers will go and see a home solely based on the photos. You know your home like the back of your hand, but buyers only have the photos to go off of. If the photos aren’t attractive, they will never even walk through.
Photos taken straight from a phone camera are the biggest culprit of poor photos. If I see one more home with blurry photos clearly taken from an iPhone 3, I may lose it. You wouldn’t encourage your friend to use blurry photos for an online dating profile, would you? Or maybe you would, but only because at the last trivia night they totally botched the game winning question. How could they forget Emma Stone won an Academy Award for Best Actress for her performance in La La Land? Did they even watch the movie?
Ok, maybe in that specific situation you encourage it. Just please don’t do it for your home.
7. Determine The Right Price
After receiving your photos, review the comps and work with your agent to determine the best listing price for your home. You want to price it competitively, so it doesn't sit on the market for too long but also allows room for negotiation.
Your realtor is not trying to offend you if the price they recommend isn’t quite what you think it should sell for. At the end of the day, they don’t price your home. The market does.
Lowering your price in the future is much easier than raising it, but the longer your home sits, the more you may need to lower to adapt with current market conditions.
8. Schedule Showings
Now that your home is listed, it's time to start scheduling open houses and showings. Work with your agent to find the best times to show your home and make sure it's always clean and ready for visitors.
The first weekend is always going to be the busiest one (unless your first weekend is Super Bowl Sunday). Open houses are going to allow more foot traffic to come in from potential buyers without a real estate agent, so get ready for that first weekend!
Make sure your agent is checking in with other realtors who show the home or any open house guests to get as much feedback as possible. This is a great way to get positive or negative feedback on your home that can help you act in real time to adjust to what buyers are saying.
9. Plan Your Move
Finally, think about your plans for moving. Can you move prior to listing, or do you need to sell your home first? Consider the timing of your move and factor it into your selling strategy.
There are even options for staying in your home slightly after closing if you need some extra wiggle room to find or close on a home.
In Conclusion
Moving can be a very emotional process. This is the place you have most likely called home for years. The process can be made easier, but there are still a lot of moving pieces. Following this guide will give you a great framework for breaking everything down into manageable pieces.
Lastly, make sure you have the right team around you. If you are paired with a great real estate agent who can help set the right expectations and set you up for success, it will feel less like sailing through a storm and more akin to managing the large waves of the ocean. There is still work required by everyone on deck, but you’ll make it to your destination in one piece.
If you’re looking for more insight into the current market and if now is a good time for you to sell your home, we offer free 30 minute consultations where we will break down your current home and local market to see if selling would be right for you!