Life events often drive the decision to sell; however, for other homeowners, the decision doesn't come easily. No matter your reasons for selling, the home selling process can be an exciting, emotional, and stressful time. Taking the time to understand your motivation and priorities for selling your home, as well as the state of your finances, and the current market conditions can help make you an informed and prepared seller.
Are You Ready to Sell?
Understanding your motivation and priorities: What are you looking for in a new home? Are there homes that fit your needs available in a comfortable price range? What are your priorities for selling your home? Whether your goal is to get the best price, to sell quickly, or have a smooth sale, these different goals can affect how you position your home to sell.
Understanding Your Finances: An excellent place to start is to contact your mortgage company to find out your payoff amount. It is also a great time to start the conversation about your next move and what you'll be able to afford.
Understanding the Market: (insert market report image) You'll also want to get a better understanding of the value of your home and the market conditions in your area. Are homes selling quickly in your area? Are home values rising consistently? For current market conditions go to the VermontMarketReport.com.
Interview Real Estate Agents: Agents make or break the sale of your home. Great agents understand that selling a home requires a specific set of skills: a knowledge of market conditions, a strategic approach to pricing; a robust marketing plan to maximize exposure; expert negotiation skills; and a masterful command of legal contracts.
Questions for Interviewing Agents
- How long do you think it will take to sell my home?
- What is your experience selling in my town/price point?
- How many properties have you sold in the last 12 months?
- What is your marketing strategy for my home, other than putting it into the multiple listing service?
- What is your average sale price?
- How often will I hear from you?
Your Agent will manage every aspect of the sale, from scheduling showings to managing inquiries, to evaluating market conditions. There's a lot that happens before you arrive at the closing table, and your Agent will guide you through all of it
Step 1: Prepare
Comparative Market Analysis (CMA): This is a detailed report of similar properties that have recently sold in your area to provide a more accurate home value estimate. The CMA will be used to help determine your pricing strategy. Request a Free, no obligation CMA of your home.
Preparing Your Home for Sale: Getting your home ready doesn't have to be expensive or terribly time-consuming. It's about presenting your home in the best possible light. Your Agent can give you expert advice on which improvements can provide the best return on investment. Read Tips for Preparing Your Home to Sell.
Step 2: Position
Identifying Target Buyers: CBx Buyer Locator uses big data to provide insight into the demographic makeup of potential homebuyers. CBx identifies attributes such as age, education, family size, and average household income, as well as from where these potential home buyers are moving.
Staging, Photography & Description: The last step to getting your home ready for the market is photography and listing description. Your Agent and/or photographer will work with you to highlight your home in the best possible light. The listing description needs to be both accurate and engaging to entice homebuyers.
MLS & Syndication: Your Agent will gather all necessary documents and information needed for entering your home in the Multiple Listing Service and syndication out real estate websites.
Step 3: Promote
Multi-Channel Marketing Approach: The marketing of your home should extend far beyond putting your home into the Multiple Listing Service (MLS) and putting out a yard sign. A multi-channel marketing approach will reach buyers where they are and can include: direct mail, local print ads, digital advertising, an open house, social media, and emails to area real estate agents. Read Marketing Your Home.
Step 4: Managing the Sale
Managing Showings: Making your home easy to show is ideal for attracting the largest pool of buyers, but for some sellers, longer request windows and limited showing times may be unavoidable. ShowingTime enables your Agent to manage Agent showing requests efficiently. You can be notified by phone, email, or text to confirm showings.
Negotiations: Once you have an offer, or perhaps multiple offers, your Agent will work to negotiate the best terms for you, including price, timing, and contingencies. A professional Agent, backed by extensive experience and resources, is critical to a successful sale.
Contract to Sold: Your Agent will work with you and the buyer's Agent to ensure all contingencies are satisfied, and to address any issues that may affect your closing date or terms.