Thinking about selling your home can be a bit overwhelming. Most people who are selling a home have some experience with real estate because they purchased that home. However, selling a home is quite different than buying a home. And if any amount of time has passed since you purchased your home the market has likely changed. Wondering where to even begin? Never fear, we are here to help!
If the thought of selling your home has crossed your mind, we believe that it’s never too early to begin to have that discussion with your agent. Your agent can help you get a sense of what the current market looks like, what your home might sell for, how to prep your home for the market, and ultimately answer any questions that might be lingering in your mind.
First Step
The first step we take when working with sellers is to set up a listing appointment. This appointment is typically around an hour and a half and is at your home. The goal of this appointment is for us to better understand your goals and motivations for moving and also for you as the seller to learn more about your agent and strategies for getting your home on the market and ultimately sold. During the listing appointment, we tour your home and talk through the process of listing your house and the timeline you are hoping to achieve in getting your house sold.
One of the biggest differences between one agent to the next is their marketing expertise. As the seller, it’s important for you to know how your home is going to be marketed and also how the agent is going to help you prepare to get the most value out of the home.
How to Prep for the Listing Appointment
When preparing for the listing appointment, make a list of repairs or upgrades you’ve made since living in the home. Along with that, make a list of what you were already considering repairing if you continued living in the home.
What you don’t need to do is begin making repairs or upgrades in preparation for this appointment. When we meet at your home, we will walk the property and together talk through what is necessary to do prior to going to market, what might deter buyers, and what will get you a return on your investment. The most common things we recommend are painting or touching up paint, and light landscaping to help with curb appeal or decluttering. We will make some recommendations and walk you through the process.
It is also important that every who is a decision-maker in regard to selling your home is present at this listing appointment. Whether a spouse, a parent, or someone else, all should be present when we meet.
How We Will Prep for the Listing Appointment
Prior to the listing appointment, we as the agent will do our own research before coming to your home. We will be researching tax records, previous MLS listings, comps in the area, etc. This allows us to have a ballpark idea of what we believe your house would sell for prior to actually seeing the home. Keep in mind that we won’t be able to give you a firm number before we walk the property and know what you as the seller are willing to do to prep the house for market.
After the Listing Appointment
Once we walked the property, talked through repairs or upgrades that will be done prior to listing your home, and talked through your hopes and expectations for listing your home, we will conduct a full, in-depth analysis of the comps and current market.
Once we have our recommended price point for listing your home, we will provide the sellers with a detailed net sheet. The net sheet details what you as the seller can expect to profit once your home is sold. There are costs associated with selling a home and many sellers have a mortgage on their current home to pay off. This net sheet takes the expected selling price of the home and subtracts any associated costs and remaining loan amounts and shows you the final profit.
Other Key Players
If you are selling your home and also looking to purchase a new home at the same time, this is also when you will want to reach out to a lender. Once we have a general idea of a listing price and the net profit as well, your lender can take a look at your financial picture and provide options for purchasing your next home. For more information on what to look for in a lender, refer back to the beginning of this series, What to Expect: How to Start the Homebuying Process. The information your lender provides will help you and your agent strategize the buying process as well. Can you buy your new home before this home sells? Or do you need to sell this home first, so any new offer would be contingent upon this home selling? We discuss all this and more in our previous blog, How to Buy and Sell Simultaneously.
The more time we have to prepare, the better. That is why it is never too early to start having these discussions with your agent if you are considering selling your home. If you’re thinking about selling, give us a call. We’d love to start strategizing the right game plan for you.
Until Next Time,
Brianna and Keelie