Selling your home is all about knowing the local housing market. Pricing your home correctly is crucial to maximizing the highest selling price possible. As an area expert, I can help determine what direction the market is trending, so you can make the right choices when it comes to selling your home to get the highest price possible!
Selling your home is exciting and overwhelming at the same time. We want to walk you through the steps a seller typically goes through when selling their home. We will be happy to answer any questions you might have about selling your home!
If you're considering selling your home within the next 18 months, you should meet with us immediately. We can help develop a plan for improvements that would be of greatest benefit when your home goes on the market. Factors including location, the condition of your home relative to similar homes in your area and general market conditions must be considered when deciding upon improvements you may want to make. We'd be happy to visit your home and make suggestions about what, if anything, you might consider doing to your home prior to listing it for sale.
When you’re ready to sell your home, understanding the current market value of your home is imperative. Accurate pricing is critical to maximizing your sale price and minimizing the time on market. A price that is set too high or too low can negatively impact the final purchase price, and your bottom line, when selling your home.
It is often assumed that the best strategy is to price your home at the very tip-top of the market value in hopes that the right buyer who loves the home will come along and agree to a higher price, or that it will give them extra room to negotiate an offer with potential buyers, or reduce the sales price over a specified period of time. Overpricing your house often has a severely negative impact on the selling process and eventual sale price of the home for several reasons. Pricing your home higher than wat you expect to receive can immediately eliminate a significant number of potential buyers. This can happen because:
On the other hand, pricing your house at a reasonable, fair market price can often result in offer(s) being submitted shortly after listing your home. Buyers will often feel a sense of urgency when faced with a fairly-priced home and may fear another purchaser will buy the home before they submit an offer. The multiple offer scenario is almost always a result of accurately pricing your home in a strong market. Your agent is the best resource to help you understand how to price your home for the best possible result.
Staging a home to sell is an important part of maximizing the appeal to potential buyers. Often, the simplest changes to the position of furniture or decorations highlights a space and makes it more attractive to potential buyers. The listed suggestions may be short or long, and sellers may choose to implement some or all of these items. Common suggestions include de-personalizing spaces, rearranging furniture, removing decorations, and painting rooms a neutral color to appeal to a broader range of buyers. Some sellers have a hard time accepting their personal taste is different than the styles that appeal to buyers in our market, but our experience has shown that staging can have a significant impact on the sale of their home.
The first showing of your home will occur online! Photographs are the first thing buyers will see in their search. High quality photos are imperative and a non-negotiable in our market. Professional photographs ensure the buyers first impression of your home is a good one. If a buyer’s attention isn’t captured online, we most likely will never get them to come see the home in person. We work with a professional photographer who uses top of the line equipment and post-processing software. His pictures will showcase your home and capture the attention of potential buyers. Buyers will come to see your home!
Marketing strategy is one of the most important things to consider when selecting an agent to represent you during the sale of your home. Effective marketing creates and amplifies demand for a home resulting in significant financial returns for the seller. We employ multi-pronged marketing strategies both before and after listing your home in the MLS. Your listing will reach the largest possible audience as quickly as possible. Our approach, when coupled with accurate pricing, appropriate conditioning, and the right location will generate enormous interest in your property.
We know that our marketing strategies set us apart from other agents. We would love the opportunity to discuss these with you in detail. We look forward to showing you real examples of materials and advertisements that we have done for clients. If this interests you, please contact us at your convenience and we will be happy to schedule a time to meet with you.
When all the preparations are complete and your home is ready for showings, we will upload your property information into MLS, the network used by realtors (and this site!). In addition, we also provide our clients with featured placements on the most popular national real estate websites (Zillow, Trulia, Realtor.com, RE/MAX.com, and numerous others). Your house, when listed with us, will get maximum online exposure and all interested buyers will be able to find it.
When your property is listed in the MLS, interested buyers will schedule showings with their agents to view the property in person. Your home should be clean and ready for each showing, make sure the lights are on, and ensure your pets are cared for as required. The Lawton Board of Realtors uses an electronic lockbox system to give agents secure access to your home in your absence. Showings are scheduled via phone call or text as required if you are still residing in your home. This allows sellers the ability to have ample time to prepare for a scheduled showing.
Congratulations, you’ve received an offer! What happens next? We will present the offer and review the terms with you. The purchase price is frequently the main element that sellers focus on, however, it is only one aspect of the offer to be considered. The seller must also consider the closing date, any contingencies that are included in the offer, and requested concessions made on behalf of the buyer (i.e. closing costs assistance). You may decide to accept the offer as-is, provide a counter-offer back to the buyers or reject the offer outright. If you decide to counter the buyers’ offer, we will work with you to settle on the terms of the counter offer and will then present the counter-offer back to the buyer via their agent. This process may be repeated for several rounds of negotiations. When the offer is agreed upon, and all parties have signed the offer document, you are officially under contract. Once under contract, the buyer will submit earnest money to our office, and it will be deposited in an escrow account to await the closing.
Once under contract, the buyers will usually conduct a home inspection of the house in order to complete a Treatment, Repairs, and Replacements (TRR) form. The buyer typically hires a home inspector who will then schedule a time to conduct the inspection. The home inspector will go through each area of the house and perform a non-invasive inspection to identify significant defects and safety issues with the structure. You do not have to be present at the house during the inspection although you may elect to do so if your schedule permits. Upon completion of the inspection, the buyers’ agent will deliver the completed TRR form requesting repairs to the home prior to closing to our team.
The buyer (if financing the purchase of the property) will also have to order an appraisal of the home. The appraiser is randomly assigned and will schedule a time to conduct an onsite assessment of your home’s value to make sure it meets the agreed upon contract price. Upon receipt of the appraisal, we will order all title work to be completed. Concurrently, we will successfully negotiate repairs with the buyers. Once repairs are agreed upon, personnel will complete the agreed upon repairs in preparation for the buyers’ final walk through prior to closing. During final walk through, the buyers (or their inspector) will check all agreed upon repairs to ensure the repairs were completed in accordance with the TRR form.
Prior to closing, you will receive a settlement statement that lists all the financial details for the property transaction. This document shows you where all the credits and debits are going; you will also know how much money you need to bring with you (if any) to the closing. On the day of closing, the buyer will meet with the Closer at the title company and sign all the necessary documents for the mortgage and the purchase of the property. Once the documents have been signed by both parties, the title company will take care of recording the transaction at the county courthouse. Ownership and the keys are then officially transferred to the new owners.
If the seller is also purchasing a new home with the proceeds of the home sale, then everyone will work together to schedule a concurrent closing of the new home after the sale of your current home is complete and on record. Usually we can close both on the same day, but it may be better to plan for the closings to be a day apart, if possible. If you are looking to buy immediately after selling your current home, we strongly suggest contacting one of our agents to discuss this in more detail. We will help you understand what the options are and how to best proceed to minimize risk through this complicated and intricate process.
Clearly, the process of preparing, listing, and selling your home has many complicated steps to navigate along the way. The great new is that we done this hundreds of times! With an experienced, competent agent on your side giving you the best possible guidance, you can maximize the sale price of your home and minimize the hassle and inconvenience. Contact us today to let us help you begin the process!