Selling Tools

Selling Tools

Setting the Price

One of the first things you will need to decide before you put your home on the market is what you will price your home at. Contrary to popular belief, home prices are not generally set by the seller, but by prices of similar homes in the area. After you have chosen a REALTOR®, they may do a market analysis on your home. This will give insight to what other homes are selling for, how many days they were on the market, and what comparable features they had to your home. This data will give a reasonable price range that is suggested for you to price your home in. Using that range, your REALTOR® will be able to help you find the perfect balance between attracting solid offers and ultimately receiving top dollar.

Although you may want to increase the price of your home because you feel it is worth more, or you would like to get more money back from the sale, ultimately, you will be doing yourself a disservice. A home that is overpriced will sit on the market longer than a home that is priced correctly, and ultimately, you will have to bring down the price at some point. Amazingly, a house that is priced lower than market value may get multiple offers, which will then drive it up to the price of market value!

Marketing your home and showings

Once your home has been listed on the MLS system, your agent will begin to market the home and you will begin to get showings. Your home should always be available for potential buyers to see, even if it may be inconvenient for you.

Receiving an offer

When a buyer decides they want to buy your home they will make an offer that your agent will present to you. You can choose to accept it, counter it at a different price, or decline the offer.

Preparing for an inspection

When the offer has been agreed upon and accepted by both parties, the buyer will arrange for an inspection of your home. If the inspector finds any items that need to be addressed, the buyer can choose to negotiate this into the contract or can ask for them to be fixed before the sale of the home. Again, this is something that can be negotiated and needs to be agreed upon before progressing with the sale.

Appraisal

The buyer’s lender will schedule an appraiser to come out to the home and appraise the value. There is little for you to do. If the home appraises for the value of the sales price, there will be no further action. If it does not, both you and the buyer may need to negotiate the sales price further.

Closing

After all inspection items and appraisal are taken care of, the next step is to go to closing. At closing, you have very little to do. You will sign the title over to the buyer, hand over the keys, and thank your REALTOR for helping you get through a successful sale!

 

Dyanna Chrisman, REALTOR,
brokered by Real Smart Realty

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