Selling Process

 

 

 

 

Selling Process Steps


Find a Realtor and Sign a Representation Agreement

A listing agent plays a crucial role in the home-selling process. In addition to managing most of the paperwork and legwork, a good listing agent will:

  • Advise on Home Preparation and Staging: Provide tips on how to prep and stage your home to make it more appealing to buyers.
  • Strategic Pricing: Use their local market expertise to help you price your home competitively.
  • Photography: Arrange for professional photographs of your home.
  • Listing: List your home on the market.
  • Marketing: Promote your home to agents and potential buyers.
  • Showings: Manage and schedule showings.
  • Offers: Receive and respond to offers from buyers.
  • Negotiation: Advise you on negotiating the best deal.
  • Support Through Closing: Stay by your side throughout the entire closing process.

Prepare the Home / Assess Your Property’s Condition

When preparing to list your home, it’s important to assess its condition and take steps to enhance its appeal. Here are some key actions to consider:

Steps to Improve Your Home’s Appeal

  1. Complete Repairs: Address any major repairs or maintenance tasks before selling your home.
  2. Get a Home Inspection: A professional inspection can help identify hidden issues that could affect the sale.
  3. Check for Foundation Cracks: Foundation issues can significantly impact your home’s resale value.
  4. Research the Market: Start researching the real estate market six months before listing your home.
  5. Make Minor Updates: Consider minor updates, such as fresh paint or landscaping improvements.
  6. Organize and Clean: Declutter and clean your home to make it feel more spacious.
  7. Depersonalize: Remove personal items to help potential buyers envision themselves in the space.
  8. Spruce Up Curb Appeal: Enhance your home’s exterior to make a great first impression.

By following these steps, you can improve your home’s appeal and increase its chances of selling quickly.

Run a Competitive Market Analysis (CMA) and Take Professional Photos

We will conduct a CMA to determine the optimal listing price for your property.A comparative market analysis (CMA) is a report that estimates a property's value by comparing it to similar properties in the same area.

Factors to Consider for a Competitive Listing Price

Location: The location of a home can significantly impact its listing price. For instance, a home on a busy street may sell for less than a similar home in a quiet neighborhood. However, proximity to schools, restaurants, and public transit can increase a property’s value.

Property Size: When comparing similar properties, consider the number of bedrooms and bathrooms, as well as the overall guest capacity.

Renovations: Remodeling and updating a property can increase its value, but some projects offer a better return on investment than others. For example, adding hardwood flooring may provide a higher return than upgrading a kitchen.

Pre-Appraisal: A pre-appraisal can provide an objective value for the property, which can be useful when discussing the price with potential buyers.

Pre-Inspection: A pre-inspection can offer buyers a clear understanding of the home’s condition, including pest and dry rot inspections.

By considering these factors, you can set a competitive listing price that attracts potential buyers.

Professional photos will be taken to showcase your home in its best light.Indeed, professional photos can make a significant difference in the home-selling process. Listings with high-quality images tend to sell up to 32% faster than those without. Additionally, a study by the National Association of Realtors shows that homes with professional photos are more likely to sell at or above the listed price compared to those with lower-quality images.

List the Home and Hold Showings

Your property will be listed on multiple platforms to reach potential buyers. Our team will schedule and conduct showings to highlight the features of your home.

When a prospective buyer requests a private showing, their agent will contact the seller’s agent to get approval. Once approved, the appointment is set, and you’ll be alerted to prepare your house for the showing.

Showing Process:

  1. Meeting at the Property: The buyer will meet their agent at the property. If the buyer doesn’t have an agent, they may contact the listing agent, who will then show the house.
  2. Touring the Home: Buyers will look through the home and may have questions. While they will inspect things like closets to check their size, they should not be overly intrusive, such as opening every kitchen drawer or going through personal property.
  3. Feedback: After the showing, the buyer’s agent should provide feedback. This feedback is invaluable as it gives you insights into what improvements may be needed to sell your home.

Things To Do When Showing Your Home for Sale

Here are some top tips to ensure prospective homebuyers have a great experience when touring your home for sale. Let’s start with what to do when showing your house for sale.

Stage Your Home

Staging your home can significantly improve homebuyers’ experience. Ensure all rooms and spaces illustrate their best or most likely use. Adding trendy accent elements can enhance the overall aesthetic. Make your home appear open, inviting, and engaging.

Things To Put Away

Protect your privacy and secure valuables. Lock up or remove anything of meaningful financial or sentimental value. Real estate agents are trained to watch for bad behavior, but accidents can happen. If you have firearms or other weapons, ensure they are locked up or removed from the home.

Cleanliness Goes A Long Way

Clean homes sell, while dirty homes do not. Follow this checklist before an open house or home showing:

  • Take out the trash
  • No dirty laundry or dishes
  • Put away pet toys
  • Clean cat litter boxes
  • Make the beds
  • Toilet seats and lids down
  • Clean bathrooms
  • Vacuum and sweep
  • Tidy up the yard

Lights On & Keep It Comfortable

Make an exception to minimize energy use when selling your home:

  • Open all shades and curtains
  • Turn on all lights
  • In summer, keep the air conditioning cool but not cold
  • In winter, keep the heat warm but not hot
  • Turn on outdoor lighting

Pets

Remove pets from the home or secure them so they do not interact with prospective buyers. Inform the showing agent about pets in the home. Put away pet toys, treats, and bowls. Clean or remove litter boxes during showings.

Leave

While you don’t have to leave during showings, it’s recommended. Buyers feel rushed and uncomfortable with the owner present. Avoid sitting in your car at the end of the driveway as well.

Pay Attention To Curb Appeal

Many homebuyers drive past homes before scheduled showings. Ensure your home looks well-kept from the street:

  • Mow the grass and bag heavy clippings
  • Rake leaves
  • Weed flower beds and landscaped areas
  • Trim bushes
  • Add flowers for vibrancy

You can create a positive experience for prospective buyers and increase your chances of selling your home.

Negotiate, Accept an Offer, and Close the Sale

We will negotiate on your behalf, review offers, and guide you through the closing process to ensure a successful sale.

Negotiation

Negotiation is a strategic discussion between a buyer and seller to reach a mutually acceptable agreement. The process typically involves:

  • Preparation: Gathering information and setting objectives.
  • Defining Ground Rules: Establishing the framework for negotiations.
  • Clarifying and Justifying: Explaining positions and providing evidence.
  • Bargaining and Problem Solving: Making concessions and finding solutions.
  • Closure and Implementation: Finalizing the agreement and putting it into action.

Accepting an Offer

When a seller receives an offer on their home, they should strategically evaluate it by considering:

  • Buyer’s Closing Date: Ensuring the timeline aligns with their needs.
  • Contingencies: Reviewing any conditions the buyer has included.
  • Fees: Understanding any associated costs.
  • Buyer’s Financing: Confirming the buyer has secured financing.
  • Timing: Ensuring the overall timing works for them.

Closing the Sale

The final steps in the purchase process include:

  • Closing and Funding the Loan: Finalizing the financial aspects.
  • Final Walk-Through: Ensuring the property is in the agreed-upon condition.
  • Signing Legal Documents: Completing the necessary paperwork to transfer ownership.

Personalized Service for Sellers

  1. Tailored Marketing Strategy: Creating a marketing plan specific to your property, including professional photos, virtual tours, and targeted online ads.
  2. Home Staging Guidance: Offering advice or arranging professional staging to enhance your home’s appeal to buyers.
  3. Pricing Analysis: Conducting a market analysis to determine the optimal listing price for your home.
  4. Open Houses and Showings: Coordinating and managing open houses and private showings to attract potential buyers.
  5. Negotiation Expertise: Handling negotiations with buyers to secure the best price and terms for your home.
  6. Paperwork : Managing all necessary paperwork and ensuring compliance with local regulations.
  7. Regular Updates: Keeping you informed with updates on the selling process and feedback from potential buyers.
  8. Closing Coordination: Assisting with the closing process, including coordinating with inspectors, appraisers, and title companies.

At vMp Realty Team, we understand that selling your home is a personal and important decision. That's why we provide tailored service to meet your specific needs.

What is your HOME worth?