Step 1: Planning/Preparation Thousands of established homes are sold each year, and while each transaction is different every homeowner wants the same thing - the best possible deal with the least amount of hassle and aggravation.
Unfortunately, home selling has become a more complex business than it used to be. New seller disclosure statements, longer and more mysterious form agreements, and a range of environmental concerns have all emerged in the past decade.
More importantly, the home-selling process has changed. Buyer agencies - where Agents represent homebuyers - is now happening nationwide, and good buyer-agents want the best for their clients.
The result is that while many established homes are sold each week, the process is not as easy for sellers as it was five or 10 years ago. Surviving in today's real estate world requires experience and training in such fields as real estate marketing, financing, negotiation and closing - the very expertise available from local Agents.
Are you ready?
The home-selling process typically starts several months before a property is made available for sale. It's necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and tossed out.
Ask yourself: If you were buying this home what would you want to see? The goal is to show a home which looks good, maximizes space and attracts as many buyers - and as much demand - as possible. While part of the "getting ready" phase relates to repairs, painting and other home improvements, this is also a good time to ask why you really want to sell.
Selling a home is an important matter and there should be a good reason to sell - perhaps a job change to a new community or the need for more space. Your reason for selling can impact the negotiating process so it's important to discuss your needs and wants in private with the Agent who lists your home.
When should you sell?
The marketplace tends to be more active in the summer because parents want to enrol children in classes at the beginning of the school year. The summer is also typically when most homes are likely to be available.
Owners are encouraged to sell when the property is ready for sale, there is a need or desire to sell, and the services of a local Agent have been retained.
How can you improve your home's value?
The general rule in real estate is that buyers seek the least expensive home in the best neighborhood they can afford. In terms of improvements, this means you want a home that fits in the neighborhood but is not over-improved. For example, if most homes in your neighborhood have three bedrooms and two bathrooms, a property with five bedrooms and more baths would likely be priced much higher and likely be more difficult to sell.
Improvements should be made so that the property shows well, is consistent with the neighbourhood and does not involve capital investments, the cost of which cannot be recovered from the sale. Furthermore, improvements should reflect community preferences.
Cosmetic improvements - paint, wallpaper and landscaping - help a home "show" better and often are good investments. Mechanical repairs - to ensure that all systems and appliances are in good working condition - are required to get a top price.
Ideally, you want to be sure that your property is competitive with other homes available in the community. Agents, who see numerous homes, can provide suggestions that are consistent with your marketplace.
