Step 1: Choose an agent.
The best decision you can make in your journey towards selling your home is selecting the right agent. Not only does your agent represent you throughout the entire process; they also bring a wealth of valuable skill, knowledge, and experience to the table. Your agent should be a seasoned professional who you can trust to help you price and list your home, help you sort through offers and negotiate on your behalf, and guide you through the closing process.
The idea of saving money by selling your home yourself (for sale by owner) can be tantalizing, but many people without professional real estate experience who choose this route end up frustrated and overwhelmed by the work of preparing, listing, and marketing the property; running comparables and setting a realistic price; receiving offers and handling paperwork; and dealing with legal issues should something go wrong.
With over 15 years of experience selling in the Middle Tennessee and Northern Alabama markets, I have just about seen it all and have the experience and know-how you need in order to sell quickly and for the best possible price. Think we might be a good fit? I’d love to hear from you!
Step 2: Set a listing price.
Choosing the right price for your listing is one of the determine factors in how quickly your property sells.
Pricing too low can lead to selling faster, but you’ll likely be leaving money on the table. In addition, potential buyers who are familiar with the market may see the low price and assume there is something wrong with the property, possibly scaring them off from making an offer.
Pricing too high can also ward off potential buyers, which may translate to your property sitting on the market for weeks or even months longer than desired. Price reductions over time can also signal a red flag to buyers who may wonder why no one took the home at the original price.
Your realtor is the best resource available to you for pricing your home correctly. I will combine my knowledge of the market with current real estate comparables (“comps”) in order to suggest the best listing price for your property.
Wondering how much you could get for your home? Get a free comparative market analysis (CMA) from me by sharing just a few quick bits of info about your property.
Step 3: Prepare your home to sell.
People often make buying decisions based on whether or not they can see themselves in the home. For this reason, it’s a great idea to stage your home by removing personal photos and memorabilia, removing unnecessary clutter from living spaces, deep cleaning your home, and making sure outdoor features like lawns, patios, and exterior paint look amazing for maximum curb appeal.
Step 4: Order a home inspection.
Though not required, ordering an inspection on your property before you sell can alert you to any major issues that may come up when potential buyers order their own inspections. You don’t have to make these repairs before putting your home on the market, but taking care of important ones can help your home sell faster and avoid the potential for a buyer backing out of a contract. This also allows me as your agent to inform potential buyers of any recent repairs or upgrades made, which can add to the perceived value of your home.
Step 5: List, market, and show your home.
Once your home is looking its best and you’ve mitigated any major problems, it’s time to put it on the market! Your real estate agent will list your property on the MLS, which makes it visible to the world. In addition, your agent should provide signage to display on your property, and if applicable, coordinate an open house.
A buyer’s decision whether to see a property often hinges on the quality of the listing photography. I provide professional photos (and drone footage for farms) for all my clients at no cost to you, to make sure buyers get the best possible first impression.
Prospective buyers who are seriously interested will likely want to tour the property in person before submitting an offer. Your real estate agent will coordinate with the buyers’ agent and arrange showings, sometimes at a moment’s notice. This means it’s important to keep your house clean and tidy at all times while it’s active on the market, and be prepared to vacate at any moment so that buyers can tour your property without distraction or feeling self-conscious.
Step 6: Review offers.
Once a potential buyer sees your property and decides they want to buy it, they will make an offer. If your listing is competitive enough, you may even receive multiple offers at the same time. It can be tempting to simply choose the offer with the highest price, but there are other important factors to consider as well, including: whether the buyer is pre-approved, closing costs, seller concessions, any contingencies, timeline, and means of purchase (cash offer vs. financing).
Step 7: Accept the best offer and close.
Once you accept an offer, your property is considered “under contract”. This means that your property is still visible on the MLS, but no more offers can be submitted unless the contract is broken or falls through. The typical timeframe between accepting an offer and closing the deal is 30-45 days, but can occur faster or slower depending on the agreed-upon timeframe of both the buyer and seller. During this period of time, the buyer has the opportunity to order a home inspection. The bank will also conduct their underwriting process, which includes a third-party appraisal and investigation of the buyer’s financials.
Once this process is complete, it’s time to close. Bring your photo ID to the closing appointment with you and sign all of the required paperwork. The transaction will be recorded in public record, and the bank (or seller in case of a cash offer) will transfer the funds to you. Congratulations, you’ve successfully sold your home!