Selling your first home isn’t as simple as listing your home on the market. Much like buying a first home, the learning curve can be steep.
We’ll break down the essential steps for selling your home, so you can win over buyers and sell it for the most money – without losing your cool.
Decide how you’re going to sell
Choosing how you’re going to sell dictates every other aspect of the process, from the selling strategy, to the cost of selling the home, and the preparation you’ll need to do.
In the digital age, sellers no longer need to list their home with a real estate agent—you have options. But, it’s important to weigh the pros and cons to determine the best fit for your circumstances.
With a real estate agent
The real estate agent (or listing agent) markets the home, prepares the paperwork and communicates with the buyer’s agent—the real estate professional who assists the buyer with finding and closing on the home. Many sellers choose to work with an agent because they can offer guidance on pricing, incentives, and local market expectations.
For assisting you with the sale, the listing agent will typically charge 5-6% commission (fee varies by location) that then gets split with the buyer’s agent. Keep in mind, there are other costs to selling your home beyond agent commissions.
For sale by owner
With this option (often called “FSBO”), the owner manages all aspects of the sale. Because you are selling the home, you won’t need to pay a listing agent’s commission. In FSBO transactions, the seller has an asking price and can stick to that price, and it is up to the buyer to pay their agent a commission. Alternatively, the seller can negotiate the rate with the buyer’s agent.
The traditional process can be stressful—showings, repairs, offers that fall through and months of uncertainty.
Generally the better condition your home is in, the more offers you will receive and the easier it is to justify the price.
While this can save money, it requires more time and effort. All the paperwork and home marketing fall on the seller. You’ll need to handle tasks like listing the property online, taking high-quality photos, writing listing details, and scheduling showings. Knowledge of the local real estate market is also important to accurately price the home.
For many homeowners, especially those who haven’t sold a house, saving money on the buyer’s agent fee isn’t worth the extra effort of handling all aspects of the sale.
Determine your asking price
Pricing your home requires a balance between personal expectations and market conditions. How you price your home can mean the difference between an offer and weeks or even months on the market.
Online tools can provide an estimate of your home’s value. The traditional way to value a home is to manually select a few comparable homes or “comps” that have recently sold in your area. It’s extremely difficult to find a perfect match so you, or your agent, will need to make adjustments. For example, if your home has three bedrooms but a comp has four, how much would the comp have sold if it had three? This gets even more challenging with features like pools, vaulted ceilings, and a mountain view.
Once you have a good idea of your home’s value, consider whether time or money is more important. You might price a home more competitively if you want to move quickly; on the other hand, you may choose to endure weeks or months of showings for a higher price.
The better condition your home is in, the more offers you will receive and the easier it is to justify the price.
Prepare your home for sale
Generally the better condition your home is in, the more offers you will receive and the easier it is to justify the price. Here are a few steps you can take to get your home in top condition before showings:
This is an important component of preparing a home for sale, as decluttering is the best way to make your home look clean, spacious, and ready for new owners. Consider your home from a visitor’s perspective — does it feel expansive and welcoming? Clear countertops, shelves, closets and corners where items have accumulated. Consider additional storage options if necessary to keep the home clear.
Decor, for selling a home, means making the space as neutral as possible — no funky accessories on the walls or overpowering colors. Neutral colors, for example, offer potential buyers a blank slate so they can imagine themselves in the home.
Make a plan for maintenance, so nothing falls through the cracks during the hectic home-buying and selling process. This way, your home remains in pristine condition until it’s under contract.
However, if you just want to sell your Arizona home without all this fuss then reach out to SellforcashAZ.