5 Tips To Sell Your Home Fast
5 Tips To Sell Your Home Fast
So, you’re thinking about selling your house. Or maybe you already decided to sell. Now you’re wondering what comes next. It’s important to understand the process you’re about to embark upon as things have a way of changing quickly.
Selling a house and relocating is a huge undertaking.
It can be a stressful process but with the right information and support system, selling a house can be a fun, enjoyable, and empowering experience.
Here are five steps on how to sell your house the correct way.
- Hire an exceptional real estate agent.
Real estate agents are as common as the air we breathe.
Maybe not the air we breathe but as of the writing of this article, the Association of Real Estate License Law Officials (ARELLO) estimates that there are about 2 million active real estate licensees in the United States.
Guess what else?
There are hundreds of new agents are being licensed every week.
You can’t leave it up to chance and hire any agent. You need to research and interview a few agents before you decide to hire the agent that’s right for you.
When searching for the right agent, it’s important to look for someone who will:
- Go above and beyond for you
- Negotiate your interest
- Strive to get you the best deal
- Provide solutions if you run into any issues
- Have a solid marketing plan to sell your house fast
Most importantly, they should be honest and work in good faith.
It sounds super easy and convenient to have your sister, brother, cousin, or other relative who has a real estate license to help you. You may also be tempted to get your friend from your reading club or another organization.
Of course it would be great to work with your family or other friend.
But the better choice is to hire an exceptional real estate agent who is a professional. This agent should be knowledgeable about the market, have proven experience in the field. An honest person you can trust and depend on.
What if I want sell my house by myself?
It’s no secret that everyone loves to save money. From a number’s perspective, selling your house by yourself sometimes appears to be a great way to save money. But is that really true?
It’s not just money that makes a real estate transaction a successful one.
There are several other factors to consider.
People that choose to sale their homes by themselves are called For Sale by Owner (FSBO). But is the FSBO process as easy and convenient as it sounds?
If your goal is to sell your home fast, it’s important to get it in front of a lot of buyers. And unless you have deep pockets to pay for advertisement, it can be very difficult to get attention on your property. You will also be competing with other homes that are represented by an agent. Not to mention that the longer your home sits on the market, the less attractive it becomes to buyers.
This is why hiring an exceptional real estate agent is important.
An exceptional real estate agent will tap into online resources to market your home through the Multiple Listing Service (MLS) and other real estate blogs and websites. The agent which go above and beyond to market your home and give your house great advertising exposure to thousands of people looking to buy a home. An exceptional real estate agent will develop a unique marketing plan to advertise your house in the neighborhood and all over the internet.
Do I actually save a lot of money selling my house myself?
Let’s evaluate the major points.
- Commission: You still have to pay a commission to the buyer’s agent even if you’re selling your home by yourself. Which means you’re really only saving one side of the commission for the transaction.
An exceptional real estate agent will more than make up for that cost.
Did you know that the latest National Association of Realtors data shows that the average home sold by a real estate agent in 2017 brought in $265,500? However, did you know that the average FSBO home was sold for $200,000. That’s a $65,500 difference!
- Getting the Right Price: While trying to save the commission you pay the listing agent, the buyers that actually approach can often propose a low-ball offer because they know you’re not represented by an agent.
And even if they offer you full price, you have to wonder if you’re actually cheating yourself from more profits. Did you price your home correctly or are you perhaps leaving thousands of dollars on the table?
An exceptional real estate agent would have provided you with a detailed and unique Comparable Market Analysis (CMA) and a home evaluation to help you determine the best price range for your house.
- Time, Paperwork, and Lawsuits:
What’s more important than money?
Are ready to spend lots of time doing showings on unexpected days and at unexpected times? Are you ready to devote your weekends doing open houses and wondering if those that show up are serious buyers? Let’s say you get an offer from a buyer. Do you understand the agreement you’re signing? Are you ready to negotiate on your own behalf, deal with back and forth addendums? What about the correct property disclosures? Did you know that many real estate lawsuits were because the seller failed to disclose certain requirements about the house? How do you know what the law requires of you as a seller?
An exceptional real estate agent is a professional who get paid to spend time to do all that is right, legal, and moral to get your home sold fast and for highest price.
The agent also oversees the paperwork between buyer and seller to ensure that the transaction adheres to real estate codes, ethics, rules, and regulations. An exceptional real estate agent will inform you on the correct documents and disclosures that are required from you as a seller and ensure those documents are delivered in a timely manner.
For those and many other reasons, it’s better to hire an exceptional, real estate agent to represent you in the sale of your home. The right agent is worth it!
- Price your home to sell.
When it comes to selling your house, as a home owner you want the highest price. Even if you’re house is worth $300,000, wouldn’t it be great to have someone pay you much more or even twice the value?
Well, that’s now how the market works.
Every homeowner desire to sell at the highest price. Homeowners set the price they are asking for the house but it is the homebuyers who determine how much they’re willing to pay. There are many homeowners who have a strong emotional bond to their house. This is perfectly fine. But don’t let your emotions rule your judgement in how much you want to sell the house for. Sure, you want the best price. But when you overprice your house, you only help the houses that are priced correctly to look way more attractive than yours and sell faster.
It’s important to evaluate the market in your area in order to make an objective decision about what your home is worth and could sell for. The most efficient way to know what your home is worth is to ask an exceptional real estate agent to prepare a Comparative Market Analysis (CMA) for your house. This report is free and it’s a tool that agents use to see how your house compares to other houses that are similar to yours. The report will show you what’s currently on the market and the houses have recently sold in your area. The CMA is how agents evaluate the price a buyer would be willing to pay for your house.
The CMA is a detailed report of several pages that provide information that is unique to your area. It includes pictures and maps of all the houses that are included in the analysis. An exceptional real estate will take the time to inform you about the details of the report and explain how the information relates to your property. The CMA is a guide that helps you determine the competitive price your home so that it can sell fast and for highest price.
- Develop a to-do list home-selling timeline.
The sooner you get started, the better off you’ll be.
There’s plenty to do before your house is listed for sale on the market. Depending on how soon you need to sell your house, a to-do list will help you stay on track to getting your home listed, under contract, and sold.
The to do list below is a guide that gives you an idea on what to focus on. It’s not set in stone. You’re free to adjust it to your own needs and your own time.
As soon as you know you want to sell:
- Interview real estate agents: Ask the right questions to find an exceptional real estate agent that has a proven track record in your area.
- Develop a plan: Work with your agent to set priorities that needs to be done on your part and on your agent’s part before listing it on the market.
- Start to declutter: What is it that you’ve been holding on for years and have not used? What can you do without? Pack it up, donate it, get it out the house so that your home can start feeling open, warm, and inviting.
- Hire a home inspector: You don’t want to run into any surprises that you when the buyers do the inspection for the home. Get ahead of all issues by getting your home inspected by a licensed professional prior to listing. The report will help you identify any issues and repairs you need to do.
- Make home repairs: Fixing a roof or pluming issue might be more important than repainting the house. Talk to your agent about the repairs you need to make and where your repair budget will be more efficient.
- Stage your house: Arrange your home to create a space that is warm and inviting. This allows buyers envision your house as their dream home.
- Deep clean: You can clean it yourself if you’ve always maintained a clean home. But if you need a deep clean, it’s best to hire a professional for carpet and rugs and tile. You want to floors to sparkle and shine.
- Pay attention to the details: Make your house a welcoming place that someone can see themselves living in. Apply finishing touches but don’t make it too personal in a way that would exclude others. Organize the area to make your home picture-perfect and video ready!
The best way to enjoy the experience and not let the process overwhelm you is to start preparing months ahead. While there are many home sellers who don’t have months to get ready, giving yourself enough time to prepare your home for sale is the best way. Talk to your agent about making a plan and following the plan. A professional will guide you to the best plan for your needs and time.
- List your home and get through the showings.
Listing your home is the easy part. Your agent will take care of that. But home showings appointments can be difficult to handle if you’re still residing there.
Here are some tips to help you navigate the showing to get your house sold.
Tip #1: Make a daily to-do list.
In a perfect world, every showing would have an appointment scheduled way ahead of time. But that’s not always the case. Unexpected showings do occur and sometimes they happen when you least expect it and when your house is not as cleaned, neat, and organized as you wish it would be.
The key is to maintain your house until the home is sold. Put things away when you’re done using them. Keep your home clean. Do not leave dirty dishes in the sink. Make a checklist of simple thing you can do to keep your home clean and organized. That way, when you get an unexpected showing, you’ll be ready.
Tip #2: Find a place for your pets during showings.
We love our fur babies as much as you love yours. If the homebuyers are pet lovers, your fur babies can help you make the sale. However, if the home buyers are not pet lovers, this can cost you the sale. Leaving your pets at home during showings can get loud and messy. And a dog who’s constantly barking at strangers coming into the house can make the homebuyers feel uncomfortable.
You love your fur babies but having them around may cost you the sale. So take them to the doggie park for a walk, take them for a joyride around town, or send them to visit a trusted friend or family member. Your prospective buyers will be happy, so will your fur babies.
Tip #3: Be open and flexible.
Even if you need to sell your home right away and ready for your next move, letting go of the place you called home can be a little hard. But if you truly want to get it sold, you have to be open and flexible. Give buyers enough time for showings and be flexible when your agent has an unexpected showing request. Remember, the purpose of getting your home on the market is not to list it.
The purpose is to sell it. Therefore be open and flexible with showing requests.
- Negotiate the contract and close.
Negotiations between you (the seller) and the buyer always starts with the buyer’s initial offer. The contract to close process is different in every state. But once you’re into negotiations and are leading in the way to sign a contract, your agent should explain the details of the purchase and sale agreement to you.
Don’t ever sign any legal agreement or documents until you have a clear understanding about what the terms mean and how they affect you.
Pay close attention to the details below:
- Purchase price
- Escrow amount and deadline for deposit
- Contingencies for home inspection, appraisal, and buyer financing
- Additional contingencies such as the sale of the buyer’s current home
- Special allowances for personal property
- Request for home improvements and closing costs
- Closing date
Once you and the buyer agree on the all terms and reach a final purchase agreement, the process is not over yet. There’s plenty to do from the date that the contract is signed to the date of closing the sale.
Here are some quick tips to help you manage this phase of the selling process:
- Start packing. Don’t wait for the last day.
- Make sure that your agent is in constant communication with buyer.
- Keep your home insurance up-to-date until you’ve signed the dotted line.
- Ask your agent to help you make a list of what to bring on closing day.
- Stay open and flexible because delays can, and will, happen.
How Long Does It Take to Sell My House?
The answer is different for every state and every market.
The average time on the market for 2018 is currently about 60 days. This is the date from when the home is listed to the date when it closes. This number is just an average. Sometimes it doesn’t take that long. Sometimes it takes longer.
Below are some factors that can affect the timeline of selling your home:
- The real estate market. If you live in an area with a hot and fast-paced market, your house is more likely to sell faster than a house in markets where buyer demand is low.
- Location. Schools, public funding for parks and libraries, which neighborhood the house is in, and how close your home is located to popular attractions like beach, restaurants, entertainment, and shopping have a huge impact on how fast your home will sale.
- Price point. Luxury houses that are larger and more expensive can take longer to sell because the pool of buyers is smaller.
- The closing process. If your buyer is getting a mortgage to buy the house, the closing is directly tied to their ability to get financing approval. Your closing could be delayed by home inspection or appraisal issues.
These points listed above are only some of the factors that can impact the time it takes to get your home sold. Be sure to talk to your real estate agent about what to expect during the process and a timeline that is realistic for your house.
How Much Does It Cost Me to Sell My Home?
While it’s true that you will earn money from the sale of your house, there are also other costs that are directly tied to the sale of your home. Ask your real estate agent to provide you with a seller’s estimate so you can have an idea of how much you will net after your expenses are taken from the sale’s price.
Here are some of the costs you may be responsible for:
- Real estate commission. The seller is responsible for paying the real estate commission, which is split between the buyer’s agent and your listing agent. Usually that commission is 6% of the home’s sale price.
- Staging your home. This varies across markets but the usually the seller is the one who is responsible to pay for the getting the house staged.
- Repairs and maintenance. If you decide to make repairs like fixing the AC, painting the house, or replacing worn out baseboards, you will have to pay for those repairs. During the inspection period, the buyer may also ask you to make certain repairs before closing on the house.
- Other fees. Depending on the purchase and sale agreement, the buyer may request that you provide them with a financial credit for closing costs, repair costs, title insurance, and other fees related to the transaction.
Sell Your House Faster with an Exceptional Real Estate Agent
The best way to have make sure that you have a great experience selling your home is to partner with an exceptional real estate agent. The right agent will guide you through every step the process to ensure that you are correctly informed to make the best decision. The agent will keep in constant communication with you to update you with important timelines and deadlines.
Nest Findr Real Estate Agents are the most caring and passionate realtors you’ll ever partner up with. Exceeding your expectation is our priority. We are committed to going above and beyond to sell your home fast, highest price while providing your with exceptional customer service.
Contact us today for a free market analysis and home evaluation.