Selling your home can be a complicated process, but understanding all of the intricacies makes it much simpler.
As a homeowner contemplating selling, the first step is deciding how imperative a sell is. Some things to consider include determining your financial situation, and deciding if you want a bigger place for a growing family, or a newer, low-maintenance home.
Selling isn’t all about what you’ll get out of your house. You must also consider what expenses will accompany a sale. Costs such as repairs to get your home in selling condition, agent costs, closing fees, moving equipment and taxes are all part of a sale. These and other factors typically account for 7 to 10 percent of a sale’s total costs. Don’t forget other costs associated with relocating yourself, including a new home’s mortgage and inspection costs.
It also helps to set up a time frame for your sale. If you are in a hurry, prioritize these steps accordingly and plan an aggressive marketing campaign. Take this into account when selecting an agent. Interview several agents until you find the one who most complements your needs and strategy. Your home should be listed on the Multiple Listing Service (MLS) and advertised during the fall and spring peak buying periods.
Properly pricing your home is essential to selling. To do so, research comparable homes in your area, both current and recently sold listings. Look at their age, condition, and specs to give your home a competitive price. Your Greater Louisville Realtor® can assist by preparing a Competitive Market Analysis (CMA). Sellers should determine if their area is a buyer’s or seller’s market by finding out how long similarly priced and located homes have been on the market prior to selling. This will help determine the best times to sell.
Even the most valuable home will sit idle on the market without a properly executed marketing plan. Get your home the publicity it deserves by placing it in several locations. List your home with the MLS and through your agent’s online and print services. Spruce up those advertisements with photos and/or a video of your home. Also, help yourself out with a grassroots campaign and send flyers and information to family, friends, coworkers and anyone else who may be interested or know someone who may be. Plus, don’t forget the basics, like “For Sale” signs.
These simple guidelines will make your home one of the hottest on the market in no time. If you are looking for further advice or marketing methods, contact your local REALTOR.