Home Selling 101

Written by Kevin Li

2022-05-18

House Selling 101

There are many reasons why you may consider selling your house. Perhaps you are moving to a new city for a new job, or your family situation has changed. Maybe you have elderly parents or a college-aged child who has moved out of the house. If this is the case, there are a few things you want to prepare before selling your house.

First, get a property inspection to ensure your home needs significant repairs or upgrades. This is one of the few preparations that homeowners can make to make sure the house is sold for the top dollar.

Staging your home will allow potential buyers to visualize themselves living in the area

Stage your home to make a great first impression

When you stage the home to sell your home, you can create an appealing first impression for potential buyers by utilizing the space in the best way possible. It is crucial to avoid cluttered and cramped spaces and keep rooms spacious. In addition, staging your home will allow potential buyers to visualize themselves living in the area. By removing personal items and clutter from rooms, staging helps potential buyers imagine themselves living there.

Staging helps to sell quickly

Staging your home can help you sell your home quickly by drawing more potential buyers. By making it look like it’s ready to move in, potential buyers will be more inclined to accept your asking price. While real estate agents often use sales data to determine fair market value, buyers can be influenced by their emotions when they walk through a home. Therefore, buyers will be more likely to accept your asking price if the house looks like their dream home.

The first step to staging your home is to clear out all the clutters in the house. Next, empty the rooms of personal items. This includes getting rid of books from the shelves, unnecessary items from the countertops, and wiping down window blinds. In addition, it is essential to remove personal items from closets and drawers to make each space feel more spacious. You can also hire a professional staging company to do this for you.

After the initial staging, the next step is to focus on the main areas of your home. Your front door is the first impression a potential buyer will get, so make sure it looks its best. The front door is where potential buyers enter your home, so make sure it looks clean and well-maintained. You can also polish the walkway and replace any worn-out light fixtures. Once the front door is staged, buyers will take note of other things, including extra shoes, a dirty mailbox, or a doorbell that doesn’t work.

Whether you choose to hire a staging company or do it yourself, a staging company will help you get the most out of your time and effort. So, if you want to sell your home for top dollar, this is the way to go. Don’t settle for lower prices or a longer marketing time.

Get a home inspection

A home buyer may ask for repairs, or a reduced purchase price, depending on what is found during the inspection.
Getting a review before the sale of your home is crucial to protect yourself from possible litigations from unscrupulous buyers.

An experienced property inspector knows what to look for, and it is an excellent way to provide an objective evaluation of the property for both the seller and the buyer.

Be aware that the buyer can also use the inspection report to argue that the home requires more repairs than it was initially listed for. However, homeowners should limit any negotiations to significant repairs. Normal wear and tear are generally accepted without adjusting the asking price.

How to prepare for a home inspection

Before a home inspection, sellers should clear areas for the inspector to access inside and outside of the house. Make sure to avoid any obstacles as much as possible for the inspector. Additionally, ensure that the electrical panel, furnace, and water main are accessible. Further, homeowners should secure pets from endangering the inspector.

Once the home inspection is complete, the inspector will provide a report listing any visible defects or hazards. Most inspectors will send an email with the report after the inspection for convenience. The report will also include pictures of the defects or hazardous items. The buyer will also receive a copy of the inspection report by email.

Perform as many repairs as possible before listing

It is best to get an inspection as early as possible and repair any defects early before listing the house on the market. The inspection process should not take more than a few hours and can be expected to complete on the same day.

When hiring a real estate agent, ensure that the agent is licensed and working for an established real estate brokerage

List your home with a real estate agent

Before you list your home with a real estate agent, ask for a preliminary assessment from the agent. Most agents will ask you to walk through the house so they can identify the strengths and weaknesses of the house in comparison to similar properties in the neighbourhood. Then, they’ll crunch numbers against recent sales in the area to determine a competitive asking price. Using these numbers, the agent will determine how much to ask for your home based on the neighbourhood and the goals you have for it. You can then discuss these numbers with your agent.

Understand the agent’s commission fee

Before hiring a realtor, make sure you understand their commission fee. Real estate agents can make a lot of money on commission, but you should know that their services save time from listing the house on your own. Their commissions are usually based on how the accepting sold price. You can often negotiate a lower commission for fewer services, but this is not recommended. Find a new agent if the listing agent if your home doesn’t sell in a few months or you decide that the agent has not tried enough to sell the house.

When hiring a real estate agent, ensure that the agent is licensed and working for an established real estate brokerage. In addition, ensure that the agent is experienced, has past client references, and has a professional website. Real estate agents work for both buyers and sellers, although some specialize in certain types of properties. Ensure that the agent you choose is a full-time professional with flexible hours. They should also have a good marketing strategy for your home.

For Sale by Owner

Another way to sell your home is to sell it by yourself. This is known as “For Sale By Owner” and is an excellent option for getting the total price without paying the commission fees. However, this method will require you to do a lot of work. So, if you are not in a hurry to sell, it is worth trying.

You can get a good idea of how much your home is worth in the market from other listings. An average listing agent does all of these things, and a great listing agent will inspire confidence in the buyer and present your home in the best light. You will have to perform this comparison on your own if you are not hiring a real estate agent.

Ensure that the agent you choose is a full-time professional with flexible hours. They should also have a good marketing strategy for your home.

Home Selling 101

There are many reasons why you may consider selling your house. First, get a property inspection to ensure your home needs significant repairs or upgrades. Then, stage your home to make an appealing first impression for potential buyers.

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