Want to sell your home quickly and for top dollar? While you don’t need to do everything yourself, understanding what goes into the real estate sales process can help you be more prepared and confident. Here’s what you need to know about real estate sales, from start to finish.
Preparing a Real Estate Sales Listing
A crucial step in selling your home is to prepare a sales listing. This is a document that includes all the relevant information about your home. Not sure what to include? Consider consulting Denver rental companies for guidance on creating an accurate and appealing sales listing.
Homelight also has this great guide on what to include in your real estate sale listing. In a nutshell, your property listing should include:
- What’s amazing about your property: Think of this as your home’s elevator pitch. What are the top features and amenities that will make buyers want to choose your home? How’s the neighborhood, access to public transportation, and schools?
- Accurate property details: Be as accurate as possible when it comes to your home’s square footage, number of bedrooms and bathrooms, age, and any special features or upgrades.
- Recent improvements: If you’ve made any recent renovations or upgrades, be sure to mention them! Even small updates can add value to your home and make it more appealing to buyers.
- Upcoming developments in the area: If there are any new developments planned for the area, such as a new park or shopping center, be sure to mention them. This can make your home even more appealing to buyers who are looking for a convenient location.
Pay attention to the details as well, such as the headline and introduction of your listing. The better you can grab attention, the more interest you can drum up in your home.
Pricing Your Home to Sell
As a home seller, you naturally want to get as much money as possible for your property. However, real estate sales are often based on what’s known as “comparative market value.” In other words, your home is only worth as much as similar homes in your area that have recently sold.
This entails a ton of research, and you may want to let a listing agent handle this part. An experienced listing agent knows how to create a comparative market analysis (CMA), which can help you determine a competitive listing price.
You can also get an estimate of your home’s value by using an online home valuation tool, such as these ones from Redfin, Zillow, and Chase. Keep in mind, however, that these tools are only estimates. The most accurate way to find out your home’s value is to have a professional appraisal done.
Organizing Property Viewings and Open Houses
The real estate sales process depends heavily on generating interest in your home. One of the most effective ways to do this is by organizing property viewings and open houses.
A property viewing is when a potential buyer comes to your home to take a look around. An open house is when you open up your home to the public for a set period of time, usually on a weekend afternoon.
Organizing property viewings can be as simple as setting up a few appointments with interested buyers. An open house is a bit more work, but can be well worth it if you’re able to generate interest and even receive offers.
Here are a few tips for hosting a successful open house:
- Choose the right day and time: Open houses are typically held on weekends, when people have more free time. Avoid holding your open house on a holiday weekend, as many people will be out of town.
- Advertise in advance: Be sure to let people know about your open house in advance. You can do this by posting flyers in the neighborhood, listing the open house on real estate websites, and even sending out postcards to people who live nearby.
- Make your home presentable: First impressions are everything, so you’ll want to make sure your home looks its best. Don’t worry, you don’t need to spend a fortune here. Just do some basic cleaning, decluttering, and staging to make your home more appealing to buyers. If you don’t have the time or experience, try calling property management companies in Denver to help you get started.
- Prepare for questions: When buyers come to your open house, they’re going to have questions. Be prepared to answer them all! This includes questions about the neighborhood, schools, and of course, your home. If you don’t know the answer to a question, be sure to find out and get back to the buyer as soon as possible.
Negotiating Sales Offers
Negotiation is a huge part of the real estate sales process. Both you and your potential buyers are trying to get the best possible deal, so it’s important that you also try to see things from their perspective.
Remember, a fair negotiation is all about walking away with a deal that makes both parties happy. Still, it’s never advisable to do this DIY. Negotiating involves legal contracts and a lot of money, so it’s always best to let a real estate agent or lawyer handle it.
Wrapping It Up
Real estate sales is both exciting and fraught with challenges. From finding the right buyer to negotiating a fair price, there’s a lot that goes into successfully selling a home.
Still, the more familiar you are with the process, the less stressful the experience will be. Just remember to take your time, do your research, and always consult with a professional when necessary.