1. Find Your Bottom Line
Get a feel for what your home could sell for; search online for nearby, recently sold homes similar to your home and then check out open houses in person. Use the Estimate form to find out what your home is worth or ask a us for a free consultation on your home’s value. Once you have a ballpark price, subtract your agent fees, closing costs, and taxes, and then see what’s left to pay off your mortgage balance. Can you sell for enough to cover it all? Learn how real estate commission fees work.
2. Renting vs. Selling
If you can rent your home for more — and you don’t mind being a landlord — you can buy a new home without selling your old one. Contact Arman Realty Group to get an idea of how much your home could get per month. Most lenders say that rents have to be at least 25% higher than your mortgage payment for you to make money because of vacancy, taxes, and repairs. Multiply the monthly rent by 180 — 15 years worth of rent — and compare it to the price you could get for your home. If the sale price is higher than what you can make in rent, it usually makes sense to sell.
3. Choose an Agent
Evaluate two or three agents; don’t just hire the one who promises the highest price. Ask each agent which homes she’s sold in your area, how she’ll market your home, what she charges in fees, and how quickly her last five to 10 listings sold. Read customer reviews. Be wary of agents who will lock you in for six months with a listing contract. What’s most important is an agent who will fight to get the deal that’s best for you, not just the one that’s easiest for him/her.
4. Decide When to Sell
For the best chance of selling your home quickly and for the best price, contact your home town Realtors at Arman realty Group
5. Set the Stage
Your home will need to impress prospective buyers all on its own. Consider staging an empty room with furniture or clearing the clutter from a crowded space. Fill each room with natural light. Do what it takes to ensure your home photographs well and looks its best in person, grabbing the attention of every potential buyer who walks through the door. Here is how to stage a home like a Pro
6. Don’t Remodel
Aside from renovating a severely outdated kitchen or bathroom,any home improvement that doesn’t add square footage isn’t worth it. Some less drastic, cosmetic improvements are exceptions: steam cleaning the carpets (especially if you smoke or have pets), washing the windows, overhauling the lawn, hiring a home-cleaning service, pressure washing the deck, and cleaning the gutters. Here at Arman Real Estate Group we know good, local people for everything.
7. Get Professional Home Photos
With 92 percent of homebuyers using the Internet as part of their home search, photography is a critical factor in the selling price of your home, how quickly it sells, and whether it sells at all. In a study, we found homes with professional photos sold faster, and for more money. In fact, professionally photographed homes in the $400,000 range sold three weeks faster than those with amateur photos, and those with the sharpest images were the most likely to sell above list price. If you sell your home with Arman Real Estate Group, we’ll provide free professional photography to make sure your home looks its best.
8. Price It Right
Ask your agent for a comparative market analysis, which identifies local sales of homes like yours in the past year. Tour similar homes currently for sale to see how yours stacks up. When in doubt, start with a lower asking price. If you underprice by, say, $5,000, you could lose $5,000 — or get multiple buyers to bid up the price. If you overprice by $5,000, the home may sit on the market for months, and you’ll lose a lot more. The best outcome always involves multiple buyers.
9. Nail the Debut
You’ll only get one chance to make a first impression with the photos and price of your home. Your listing will get 5x more traffic in its first week than it will a month later. For most areas, we recommend a Thursday or Friday debut to catch the attention of home buyers who are online deciding what to see over the weekend. Homes that hit the market on Thursday sell for more money and faster than those listed on any other day. A typical $500,000 house will fetch about $3,000 more if it’s listed on a Thursday instead of a Sunday.
10. Market Your Home Online
Your listing will automatically appear on the MLS and Realtor.com, but ask your agent at Arman realty Group to post it to Zillow and Trulia as well; it doesn’t always show up there automatically. Check that your home is mapped correctly by every website.
11. Hold an Open House
Our research shows that holding an open house rarely affects the likelihood or price at which a home will sell. The exception is when it’s held in the first week of the home’s debut. It’s likely that the best-looking and best-priced homes are most often shown off right away, and the ones still left on the market after several weeks are held open to drum up more interest. Bottom line: if you can’t hold an open house right away, or if you don’t want to have one, don’t sweat it. It’s likely that the correlation between selling success and a debut-week open house has more to do with having a desirable home offered at a good price.
12. Get Feedback Early and Always
Once your home is on the market, private tours should start rolling in. Your agent should call each buyer’s agent and ask for feedback on the place and its price. If your home is overpriced or needs a few simple cosmetic changes, the agents representing the buyers will usually let your agent know as a professional courtesy. Once you hear the same feedback from a few buyers, act on it.
What about the rest of the process?
The cold, hard truth is that once you have your home on the market, you’re playing a waiting game. Your agent should schedule an open house and get feedback from buyers who tour your home. When you get an offer, they’ll monitor the inspection and appraisal process, and handle negotiations and closing.