The Ultimate Home Selling Guide

Selling a house can be stressful. Making the decision, preparing the house for sale, keeping it clean, waiting for a buyer, dealing with offers, and advancing to the closing table – all of these steps can involve discomfort. This is a huge financial transaction with many emotional aspects. But you can get it done – and it may even be easier than you anticipate.

One thing to keep in mind is that you’re not alone. An experienced, professional real estate agent can guide you through the process, help resolve any issues that come up, and ensure that your home sells for the optimal price in a timely manner.

Here are a few things to keep in mind when putting your home on the market and learning how to sell your house:

The Right Listing Agent

Plain and simple, owning a home can improve your quality of life, provide stability and give you a sense of control you just can’t get from renting. You have a place to live when you rent, but buying is something much deeper – and better.

A skilled, qualified real estate agent brings tremendous value to the process. You’re relying on this agent on many different levels, so be careful to select someone with the right combination of education, experience, performance and local insight. Look for a proven expert who can cast a wide marketing net and attract as many potential buyers as possible.

Be sure to let your agent know the particulars of your situation. Perhaps you need to sell within a certain time frame, are relocating out of state, or are facing foreclosure. Keeping your agent informed helps set the path for the best way to proceed, ensures that your needs are met, and ultimately contributes to a successful transaction.

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How an Agent Markets Your Home

As an experienced agent, we know how to market and advertise your home to today's distinct buyers. If you have no idea what buyers are looking for, it can be almost impossible to market to them. Our proven system of marketing to first time buyers as well as long-time buyers can get more people in your house and more eyes on your listing ultimately ending in a great offer. 

We use all avenues available to us such as social media marketing, SEO, years of connections to buyer's agents and their buyers, local, national and personal marketing. 

 

Pricing Your Home to Sell

Smart, competitive pricing is essential. When you price too high, your home stays on the market longer, prolonging the process and increasing your expenses along the way.

Home Seller Mistake No. 1: Pricing Too High

“I can always lower the price later if I don’t get any offers.”

That statement costs home sellers millions of dollars every year.

Yes, you can always lower your asking price, but that’s not a good strategy. Time and time again, experience shows that sellers who list competitively from the start get a better price than sellers who list high and then go lower and lower.

Why? Psychology.

When you price too high, here’s what buyers think:

“Wow, three price cuts in the last four months… There must be something wrong with that house.”

“With all the price cuts on this house, the sellers must be desperate. Let’s offer them far below what they’re asking and see if they bite.”

Correct Pricing Strategies

A far smarter approach is to find a knowledgeable agent who understands the local market and then work together on setting the right price. A good agent can help you avoid the overpricing trap.

An experienced agent will help set the right price for your home by considering the following:

Similar homes, via a Comparative Market Analysis (CMA): Your agent will provide a professional analysis that goes deep into stats about recent sales and current listings similar to your home in size, age, condition and features. Sales within the past six months are especially relevant.

General market conditions: Is it a seller’s market or a buyer’s market in your community? It’s important to note that what’s happening nationally may not reflect local conditions. Your agent can explain the difference and clear up any misconceptions you may have.

 

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Prepping Your House for Sale

Potential buyers get an impression of your home – either positive or negative – within 30 seconds of walking through the door. Having them see your home in tip-top selling shape is an absolute must.

There are countless ways to put the freshest face on your home, many of them costing little more than a bit of your time. Here are a few pointers for the most significant impact:

• Outside: The Power of Curb Appeal
• Clear any clutter and keep lawn decorations to a minimum.
• Mow your lawn and trim shrubs.
• Add bushes and/or colorful flowers.
• Sweep sidewalks, porch and driveway.
• Remove or update any dated or personalized fixtures.
• Put all toys away.
• Fix damaged gutters, shutters, siding or roof shingles.
• Add a tasteful welcome mat to the front door.
• Clean all windows inside and out.
• Leave your house while it’s being shown to potential buyers. Your presence can make them feel anxious and awkward.

Write a letter about your neighborhood that your real estate agent can share with potential buyers. Include information on local events, neighborhood amenities and other factors that define the community. 

Inside: Leave No Trace

• Clean everything! Check for cobwebs on ceilings, dust on baseboards – everything.
• De-clutter. Then de-clutter again. Rent a storage locker if you need to. This is very important for increasing your home’s appeal.
• Add a fresh coat of paint to the walls.
• Remove family photos and excessive wall decorations.
• Remove personal items, such as DVD collections and trophies.
• Replace worn carpets, and shampoo carpets that are dirty but still in good shape.
• Polish wood floors.
• Add fresh flowers or plants, but don’t overdo it. Maximize your home’s natural light by opening blinds and shades.
• Do a smell check and address any odors.
• Pet owners: Take Fido or Fluffy with you while your home is being shown. Your agent can provide additional advice on prepping your home, and also give you insights into the preferences of local buyers.
• Consider a Home Inspection When Selling A home inspection isn’t just for buyers. It’s also something sellers should seriously consider before putting their house on the market.

Why? Quite simply, you don’t know what you don’t know. Imagine getting a great offer on your home only to discover, during the middle of the process, that it needs considerable repairs.

This is the kind of surprise that can lead to buyers pulling out, costing you time and money on a number of fronts. It’s better to know problems from the start, and either deal with them before listing or price the home accordingly.

A seller’s inspection also provides a reference point from which to compare the findings of the buyer’s inspector. In particular, having a different professional opinion can work to your advantage in price negotiations.

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It’s known that the home buying process comes with many frequently asked questions and the home selling process is no different.  Whether you have never sold a home or have sold half a dozen, there are many questions that come with the process. This certainly is due to the fact that selling a home isn’t a process that is practiced regularly by home owners and also that rules, regulations, and the industry change on a daily basis. The top frequently asked questions from home sellers begin to accumulate before even starting the home selling process.  If you’re going to be selling your home, it’s suggested you are prepared and have a strong understanding of the process.  Many times the best way to understand the process and be well-prepared is by asking questions.

When is the best time to sell my home?

This frequently asked question cannot be answered with a simple or general answer.  Every real estate market is different, therefore, the best time to sell a home will be different from real estate community to real estate community.  In most cases, the spring months are the best time to be selling a home.  The spring months will vary from community to community.  Since every home sellers situation is different, you should discuss the timing of your home sale with your Realtor.  In some cases, selling a home during the fall and winter months actually maybe better than waiting until the spring real estate market.  This is due to a combination of many factors including lower competition and that serious buyer’s are always looking for a home, just to mention a couple factors.

How is the real estate market right now?

A frequently asked question from home sellers before listing their home for sale is related to the local real estate market.  There are many market indicators that a top producing realtor should be able to share with you to help explain the condition of the local real estate market. One of the most important indicators on market conditions is average days on the market.  The average days on market can indicate to a seller how quickly homes are selling when listed for sale. Other examples of market condition indicators that a top producing Realtor will provide a home seller before listing their home include market absorption rates, number of closed transactions year-over-year for a given month, average sale prices, and average list price to sale price ratios.

What steps should I take to prepare my home for sale?

There are several things you need to know before listing your home for sale!  A frequently asked question from home sellers before listing is what steps should be taken before listing their home.  Not properly preparing a home for sale can put a home owner at a huge disadvantage. When selling a home you must be sure that your home presents itself in the best possible light.  Making sure clutter is at a minimum, freshly painting rooms, installing new carpeting, or ensuring odors are non-existent are just a handful of things that should be done before listing your home for sale.

What should I disclose to potential buyers?

When selling a home, it’s important you disclose to potential buyers anything you are aware of in your home. If you’re aware of defects with a roof, appliance, or home in general, you’re always going to be better off being honest and upfront.  If you’re aware of defects, whenever possible, fixing them before going on the market is best.  This can avoid potential issues and/or lawsuits once your home is under contract, after inspections, and even years after you have sold your home.

Should I price my home higher to leave room for negotiations?

This frequently asked question often leads to a common pricing mistake that sellers make. A well-priced home will sell quickly and will sell for close to the listing price.  There is no need to leave room for negotiations, as today’s home buyers are very well educated.  A seller who prices their home high to leave room for negotiations can actually be costing themselves more money than if they price it to reflect the suggested market value.

If you are looking for more information in regards to selling or buying a home in Portland, contact our office, we would love to help!

 

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