The home selling process can seem intimidating and have you asking, “What is the process of selling a house?” We’re here to help!
Sellers want to sell their property quickly and for the highest price possible, but doing so requires understanding the process and following certain time-tested steps towards success. Let’s take a closer look at the home selling process.
- What is the Process of Selling a House?
- 🏠 List the Home
- 💻 Conduct Effective Marketing
- 📱 Contact RL Real Estate
- 💲 Determine the Selling Price
- 🛋️ Prepare for Showings
- 🏡 Perform Showings During Home Selling Process
- 🤝 Negotiate the Purchase Price
- 🕵️ Complete Home Inspections
- 📃 Closing - Final Step in Process of Selling Home
⌛What is the Process of Selling a House?
You’ll begin by listing your home with a real estate agent and discussing appropriate marketing strategies for your home’s location. Additional steps in the process of selling a house include staging, showing the home, completing necessary inspections, and carrying out the completion of paperwork needed on the closing day.
🏠 List the Home
A real estate agent will point out specific improvements and modifications that may increase the value of your home and highlight the property’s features by preparing a customized marketing plan. Real estate agents also assist by providing a Competitive Market Analysis (CMA) to help with setting the asking price.
💻 Conduct Effective Marketing
Don’t underestimate the power of marketing your home’s listing. Your real estate agent uses the local Multiple Listing Service (MLS), their website, and social media to reach potential buyers with your listing.
Additional marketing strategies include phone calls, follow-up responses to advertisements on the web, getting in touch with prospective buyers, alerting other area agents, and holding open houses. These marketing strategies draw in potential buyers.
📱 Contact RL Real Estate
💲 Determine the Selling Price
The selling price of the home should neither be too low nor too high but should be perfect, based on numbers and facts. A home that is priced extremely low will make buyers suspicious that something is wrong, while the one with a considerable price will not attract any attention from buyers since they will consider it unaffordable.
To avoid improper pricing, real estate agents usually prepare a Comparative Market Analysis. They compare recently sold homes that are similar to the seller’s home in terms of features. Other factors to consider for determining a home’s selling price are location, the condition of the house, and home warranty.
🛋️ Prepare for Showings
🏡 Perform Showings During Home Selling Process
Since most sellers have emotional attachments to their homes, they should allow real estate agents to perform showings to intending buyers. Let your real estate agent answer all questions from potential buyers.
🤝 Negotiate the Purchase Price
As a seller, you work with a real estate agent to arrive at a price that both you and your buyer agree is acceptable. The buyer’s agent will write a formal contract which will be duly signed by the buyer. Your real estate agent presents the document to you for review and consideration.
You now have the duty to facilitate moving the offer to a final sales agreement. At this point, you should remove every form of emotion. Sellers can also allow their real estate agents to negotiate on their behalf when selling a home.
🕵️ Complete Home Inspections
A home inspection is carried out by a qualified inspection company to detect defects or problems. This evaluation is carried out from the foundation to the rooftop, which includes the working condition of then air condition, plumbing, and home appliances.
The seller should honestly state the home’s defects to the buyer, as this will help to prevent any objection that may arise during the sales process. The buyer’s lender schedules all inspections, but you’ll need to provide access to the property.
📃 Closing – Final Step in Process of Selling Home
The closing is the last stage in the home selling process managed by the real estate brokerage or title company. Also known as the settlement or escrow, the closing is when money is taken in from the buyer and paid out to the seller.