Sellers Real Estate 101

The Selling Process

You have decided to sell your home – and you want to do it right.  Getting the best price possible matters to you, but so does minimizing stress and maximizing the next steps of your life’s journey.  Here are several key factors to keep in mind as you prepare to sell:

• Knowing when to sell matters
• Understanding the market – and the marketing of your home – is important
• Pricing your home aggressively is key to achieving your goals

Knowing when to sell

Put your home on the market as far in advance as possible of purchasing a new one, to avoid carrying two mortgages.  But if you cannot avoid “house overlap” – for instance, if you find a new home before selling your current one – ask your broker or banker about a bridge loan.  With this loan, for which you must qualify as you would for any mortgage, you make double payments in a manner that is doable for your finances. 

Having a broker in your corner to help you generate excitement about your home is key.  You also receive help with everything from setting the right price for your home to negotiating the terms of closing and moving dates.

Understanding the market – and the marketing of your home

As you prepare to sell your home, first consider the state of the housing market.  Is it hot, normal, or cold? 

A hot market is a seller’s favorite market, because more buyers exist than sellers.  Homes sometimes sell before they are even listed – or as soon as they go on the market.  You as a seller may receive multiple offers and often can sell your home for more than the asking price.

A normal market favors neither seller nor buyer.  While you the seller may not have as many offers on your home as you would like, the offers are usually solid ones.

A cold market favors the buyer.  You the seller need to be particularly attuned to your goals in selling your home – and how willing you are to hold out for the right price or to negotiate down the selling price.

When selling your home, keep in mind both the market conditions and how you can best market your home’s value – no matter what the real estate market is doing.  To get the highest price in the shortest time, you must maximize your home’s advantages.   Does your home look as lovely as possible?  Have you made any major repairs and cosmetic improvements necessary?   Remember that you the seller must appeal to potential buyer’s most profound emotions – and that an attractive, well-cared-for home is one that moves most readily from one owner to another!

Pricing Your Home

Perhaps nothing is as important in selling your home than to price it right.  Your price should reflect both the market (hot, normal, or cold) and the property’s value.  With the right pricing, you generate as many potential buyers as possible – and achieve your selling goals as quickly as possible.   Click here to figure out how much your home is worth!