Top Ten Steps for Selling Your Home
1 - Assess Your Situation
Selling your home is a big undertaking but starting with an organized approach can make all the difference. Take out a trusty pen and paper or use a productivity app to plan out all the steps.
How much do you owe on your home? How much are similar houses in your area selling for? What’s the average number of days on the market? How long can you afford to have your home on the market? Will you be living in the house while it’s for sale? Do you have money for updates, renovations, and marketing fees? The answers to these questions will determine whether you need to list with a real estate agent, offer your home For Sale by Owner, or use a Home Buying company like Zvestors.
2 - Take a Walk with a Friend
It can be difficult to see all the things you need to fix before your house goes on the market. Enlist a friend with a good eye and have them walk the property with you, pointing out things to change, paint, or store offsite. You’ll be surprised at how many flaws you can scribble down on your To Fix list.
3 - Organize your Timeline and Budget
Now you that have your To Fix list, you need to decide how much you can afford to spend on updates. By creating a timeline of when each project will need to be completed and how much each will cost, you can best assess your next steps. Consider using an organization app like Evernote to keep all the details, bids, and sales info all in one place. More great suggestions can be found in this 2020 PC Magazine article.
4 - Shop Around for an Agent
Not all real estate agents are equal. You’ll want to meet with several different realtors to see whose personality and marketing plans best fit your style. You’ll need to communicate openly with this person, so make sure you feel comfortable and your agent is trustworthy. Zillow is one of the most popular real estate sites in the country. You can search for agents and learn more about them by using the Zillow agent search.
5 - Updates: To DIY or Not to DIY
Some updates are relatively inexpensive and easy. Some require professionals, investment, and time. You should consider the ROI of any changes and get those items done before you begin marketing your property. Check out our recent blog post on Updating Your Home for Sale.
6 - Seller’s Marketing
If you decide to use a real estate agent, they will use several marketing tools to get your home in front of others. If you want to try to go it alone, you’ll want to employ some of their ideas.
Have a realtor open house and invite all the realtors in your area so that they know how great your space is and can share with clients. Usually this is done on the day before your home goes on the market. You can also get great feedback from these pros that can help you sell your home quickly.
Use social media to share photos of your home. You’ll want them to be as professional as possible – well-lit and framed. The MLS listing is one of the most powerful tools an agent can use for you because it shares your home details with all realtors. If you are determined to sell your home alone, some real estate agencies offer a Flat Fee MLS Listing. Call and ask local companies if this option is available.
Be sure that you answer your phone when it rings. When you are the seller, you need to hear and answer each inquiry.
7 - Open your House
In a 2019 Washington Post article, John Smaby, the president of the National Association of Realtors, said 52% of home buyers use open houses in their search for a property. That’s a lot of traffic. So, what do you need to do to maximize the impact of your open house?
It isn’t just about cleaning. You need to declutter. Take down and store family photos, knick knacks, and non-essentials, including bulky or unsightly furniture. (I’m looking at you, ratty recliner.) Potential buyers need to visualize themselves in your space, and that means things look as open and clean as possible. Consider renting an AC controlled storage unit for these items since your open house traffic will be peeking in closets and sizing up your garage.
Check out this blog from HomeLight for more tips on when and how to host a successful open house.
8 - Know the Value of Your Offers
Not all offers are equal. Are the buyers paying cash or applying for a mortgage? Does the offer have a contingency so that the buyer’s house must sell before they can purchase your home? You’ll need to balance these considerations to determine which offer you’ll accept and be patient enough to wait if the price isn’t right.
9 - Time on the Market
The number of days your home will be on the market varies depending on your price, home size, and geography, along with other variables. In Washington DC, for example, you can expect an average of 3 offers and a sale within 25 days according to real estate site Redfin. Since DC is an in-demand market, consider that your location may be different.
One thing to consider is how long you can afford for your home to be for sale. You’ll need to keep utilities on so that people looking to buy your home can view the property. Estimate your total cost per month and keep this in mind when setting your initial price.
10 - Call Zvestors
If your situation means you need to sell your home fast, consider using a home buyer like ZVestors. Zvestors buys homes in Washington DC, Maryland, and Virginia. As real estate investors, they can absorb the costs of remodeling your home and offer you the best possible price on your house. To sell your home right away, contact a ZVestors agent at 703-259-0570.