Most people engaging in real estate for the first time will be introduced to the home buying process. But in time, they will also have to grapple with another process – selling their home. Now that they’re on the other end of this real estate transaction, it is best to realize beforehand that there’s a right way and a wrong way of handling the home selling process. You, the seller, have to look at several factors such as the cost of selling a house, home staging companies to hire, and the timeline of your move.
Make sure you do everything right by following these great tips for selling your home:
- DON’T sell your house on your own
- DON’T be too emotionally invested in your sale
- DON’T disregard the costs of selling a house
- DON’T price your home too high or too low
- DON’T hide your home’s major problems
- DON’T leave your home un-staged
- DON’T consider only the highest bidder
With all the how-to videos and articles on how to sell your home yourself, as well as real estate websites like Zillow and Trulia, you might be tempted to DIY your first home sale. Sure, you can do it on your own but nothing beats having a real estate expert by your side.
A real estate agent will guide you through the process from giving up-to-date market information to teaching you tips and tricks to get the best deal.
DO find the best real estate agent for the job. Look for someone with experience selling homes similar to yours and in the same area. A realtor with a Certified Sellers Designation is also a plus.
It’s difficult for many to let go of their home regardless of the reason for their move. Being too attached to your home can put you at a disadvantage because it could cloud your judgment and affect your expectations.
DO focus on the financial aspects of the sale. The moment you decide to sell your home, consider it as a business transaction. Your property is the product you want to sell quickly and for the highest price. Having an agent by your side can help you separate your feelings from the transaction, as well.
Selling a home isn’t just about the profits you’ll make. You have to factor in the costs of the sale such as the agent commission and other expenses related to transferring the property to the buyer.
DO sit down with your real estate agent and discuss the expenses involved in your home sale. Depending on your timeline and if you’ve already bought a new home, you might also have to consider temporary accommodations.
Pricing your home correctly from the start is a crucial part of the selling process. If you overprice your home, you could put off a lot of buyers. You’ll likely end up pricing it down which will stall your sale further. Underpricing, on the other hand, could mean losing out on a lot.
DO work with your realtor and ask for a comparative analysis to find out your home’s fair market price. Also do some research on the local market for a better sense of how to price your home right.
In Washington State, residential property sellers are required to disclose relevant information about the home’s structure, systems, fixtures, and the like.
DO be upfront about your home’s defects. If you have the time and budget, make small repairs around the house. This will make a substantial difference in its resale value.
Your buyers will have difficulty imagining themselves in the property if it’s not well-staged. This could lead to your home staying longer on the market and not selling for the best value.
DO stage your home in any way you can. Staging a house for sale could be as
simple as cleaning out clutter and rearranging your furniture. If you want to go above and beyond, ask your real estate agent to recommend reputable home staging companies.
The highest offer isn’t always the best one. If you consider offers solely on dollar value, you might end up passing on a more viable bid.
DO go through every bid with your real estate agent and discuss the different terms being offered. For instance, if you want a quick sale, then a bid that promises a faster closing would be more ideal.
Thinking of selling your home? Get in touch with Lori Lewandowski, Pierce County’s top producing real estate agent. Call me today at 253.617.5922 or send me an email to lorilewandowski(at)gmail(dotted)com.