Everyone who owns a home has at some point considered selling it. Sometimes in passing, sometimes with forethought. How do you know when the timing is right?
Trusting your gut is true with selling but it takes a great deal more financial analysis to make sure this is the right move. You also have to be willing to let go of the emotions you have tied up in your home. That’s a tall order but it will be essential for a fast and profitable sale.
You must start thinking like a buyer and not like a homeowner. As stark as this sounds, it has to become a commodity that is marketed to a target audience just like any other product. You and your REALTOR® will become the marketing team.
Finding the right fit for your listing agent is your first order of business. They need to know how to specifically market and price your home in the most effective way possible. The hardest thing for sellers to understand is that the MARKET determines what your home will bring – not you, not your agent, not the money you need out of it. The only way to know what a home will sell for is determined by analyzing the price of homes that are truly similar to yours and what they have sold for in the last 6-12 months. This will be determined by age, condition, amenities, and location.
When determining what needs to be updated, it generally makes the most sense to replace only what will truly be a deterrent for buyers and keep your costs low. Your REALTOR® will know how to work with you to make those decisions. Many buyers will make changes once they move in. There is no sense in updating expensive items, such as granite countertops, unless it will make a pivotal change in the tone of the entire house.
Once your house is listed on the MLS, being a team player with your REALTOR® becomes crucial. While your agent can market your house effectively, it will be up to you to make sure that the house remains in tip-top shape every day. You are marketing to potential sellers when you are putting your coffee pot under the sink each morning. It may be a pain but the end result will bring personal pride that you made it happen.
Consistent communication is also critical and flows both ways. Determine up front how both of you want to stay in touch, how often and what’s important to you. Agents get feedback from each showing and can share the results. Sometimes these are things you can change, such as a dirty bathroom, and sometimes not, like the location. If they are marketing in other ways, such as Facebook or photo videos, results are available so you can know where you stand.