9 Steps To Sell A House | BEST Way To Sell A House
What if I told you that you can use these 9 steps to sell a house and actually see the magic happen? These 9 steps are the best way to sell a house in 2022!
There is no doubt that selling a house is a long process! A house is more than a place where you live, it\’s where your life exists as well. Therefore, it must go in the right hands even when you are selling a house in a hot market, and to ensure that it happens, one has to take utmost care to make the house as perfect as possible.
These 9 steps and home selling tips and tricks will surely boost your home selling chances.
Before diving into the step-by-step guide to selling a house in toronto, have you considered all the alternatives to selling your house? I know this goes against what realtors will tell you but believe me you should never sell real estate.
Real estate is supposed to be bought and passed through generations. This is how generational wealth is created and maintained within a family.
There are many ways you can access the equity within your current home without selling it. Reach out to your realtor or financial advisor to discuss options prior to listing your property for sale. Here are the nine steps to selling a house:
First, hire me and forget about the rest I will take care of it for you but I want you to be a smart buyer and be aware of all the details. Let me walk you through all the details.
Selling a home is science and it requires careful planning and due diligence. Let me break it down for you: step one is hiring the right realtor – one of the biggest mistakes that you can make is hiring a realtor that may not be the right one for you or for your property.
For example, a very well-known or prominent realtor could be a bad realtor for listing your property. If they don\’t have experience selling properties in your local area, a local area realtor will always outperform a realtor who is a top performer in a different area.
Ideally, you want to interview at least three realtors prior to deciding who you want to work with when you have interviewed the three people. Call me next and give me an opportunity to present to you what I can do better for you.
Ideally, your realtor must be an excellent salesperson good at negotiations, approachable, and have an excellent understanding of your area.
Talking about negotiations, if you were able to beat your realtor at negotiations of their commissions, just imagine how they would stack up defending your property price in front of other pros who do this for a living.
This is a very good indicator of realtors who charge a one-person commission of what they bring to the table by saving a couple of thousand dollars in commissions.
People end up paying 10 times that in sales price also if your realtor does not have a good pricing strategy in place and is willing to list your property for the price that you want, this may be an indicator that they have no idea of what they are doing.
A good realtor will always have and must be able to defend their strategy in terms of what their reasoning is and why they are pricing the property at such a price.
Once you have identified the realtor you want to work with, you will have the property listing appointment scheduled prior to this appointment. You need to prepare some documents that would help the realtor.
List the property, you will need a utility bill, and you will need to have your property tax statements, mortgage statement, and a list of upgrades in your house. They will also require property showing instructions and a set of extra keys for your property.
Once you have submitted all the documents to your realtor, your realtor will send the listing documents to you. Prior to the appointment, here\’s a tip for you to get a professional home inspection done.
Prior to listing your property on MLS, this helps you and your buyers know the condition of the house and expedite the process of the sale.
Step two is planning – The very first step of planning is mapping out the blueprint. Your blueprint is going to be the outline of the following things: first, market demand.
Typically, in the winter months and the last two months of summer, the market slows down. Avoid these times as most people are not buying at this time or out of the market number two inventory analysis.
The next thing you should consider is doing a competition analysis of other properties in your neighborhood. For example, if there are too many homes listed on your street then you may want to hold off on listing your house for sale.
At this point, an increase in supply may stop you from getting top dollars for your home. Your realtor can advise you on the right time to list.
The third point is policy change. At this point, it would be a good idea to identify if there are any new policy changes coming up that could impact your sales such as new stress test rules, changes in interest rates, or changes in immigration policy.
Next, you need to identify what is your PSG. Yes, you heard it right. PSG is your post-sale goal. Is it to buy a property, is it to rent a property. After your sale, are you planning on moving in with your family or friends after? or do you already own a property that you would like to move into?
Identifying these at this point in your blueprint is super important and very vital. It will help you progress with your sale very quickly and you\’ll have a better understanding of what you need to do next.
You will identify what your roadblocks to achieving your PSG are. Consider your finances and any life-altering events such as if you\’re planning a baby. There\’s a wedding that is happening or maybe there is a divorce that\’s on the horizon.
Make sure you do account for this next you need to consider career plans are you going back to school is there a job relocation that is going to be happening. Are you switching careers?
Make sure you do account for them as well in the blueprint. You also want to identify whether you\’re going to buy first or sell first. This is a crucial decision as it will drastically change and impact the timeline of your sale.
Step 3 is preparing the house. This is potentially the most important and longest step to get done. Don\’t rush this give yourself enough time to get the house ready as this could lead to exhaustion and stress.
30 days is typically the time it takes to get a home ready for sale. Getting your home ready to list requires the following steps: decluttering, de-personalizing, renovating, repairing, or upgrading your house, staging, cleaning, and decluttering to maximize your usable space in your home.
This dramatically helps your house look bigger and brighter. A useful tip here is to keep the smaller furniture and remove the larger furniture. Another good tip to follow at this time is to pack as if you were moving right now might as well do it right now because you have to move out later on. Move your items to storage or your garage so that it\’s easier for you on a moving day.
Depersonalize your home as it is very important. You want the buyers to be able to envision their families living there not yours. Remove or relocate any personal items such as photos, religious items, pictures, or other objects from your home.
It\’s a good time to think about it it. Value-added renovations at this time as well could dramatically change the look and the selling price of your house. If there are any pending repairs get them done now. Some value-added upgrades that you can do are lighting fixtures, door handles, flooring basement, apartments, kitchens, bathrooms, and landscaping take a look at these and find out from your realtor.
What is it that will help benefit your house? The most professional staging is extremely vital in the sales process and really helps home sell faster remember the key to selling anything is in its presentation and marketing. Once you have done all of these things I mentioned, get cleaning. Clean the floors, clean the exhaust, clean under the counter, clean the windows, clean the bed, and clean the closets. This is extremely important. First impressions are lasting impressions.
Step four is pricing your home for sale. Pricing your home for sale requires a very well thought out strategy that depends on many factors: current market conditions, inventory comparable sales, condition of your house, curb appeal proximity to train, and roads even hydro lines how fast you want to sell your house.
Step 5 is marketing. Marketing is an art this is something that most agents struggle with if your house gets exposed to the most number of people that\’s how it will sell quickly and for top dollar. Marketing is also where your huge chunk of the selling commission goes. A good marketing strategy will attract the most number of buyers to see your beautiful home in today\’s market.
Online marketing attracts over 90 percent of buyers professional photos and videos of your property are one of the strongest marketing tools that you can use to showcase your home. Most buyers skip properties just because they don\’t have good photos on the property listings. Hiring the right realtor will drastically improve the chances of finding the right buyer.
Step six is showings. Your realtor will have a system in place for scheduling showings and his or her office will take the hassle out of this step of tracking and verifying who\’s coming into your home. All realtors, going into your home are required by law to have insurance in place and they\’re tracked by listing brokerages to mitigate risks associated with showings be prepared for multiple showings a day and be ready to leave the house when people arrive to see your property.
This helps the buyer feel comfortable and take their time to envision seeing themselves living in your house. Here is a tip for you: bake some cookies each morning in your home before you leave. This leaves your home smelling really nice and it enables your buyers to connect with your house.
Step 7 is preparing for offers. Ideally, you want to bid more on your property but that\’s not always the case you need one offer at the right price with the right set of conditions that works for you. The offer of purchase and sales should include your name, your buyer\’s name, the offer price, the deposit amount, irrevocable date, and closing date.
Any inclusions or exclusions and conditions in a conditional offer will have some conditions. Those conditions could be financing, inspection, and lawyers\’ approval status certificate. If it\’s condo insurance, if there is a requirement for that if for any reason the buyer wants to back out of this conditional offer within the period is specified they can do so without any penalties
A deposit is required in order for the offer to be accepted and considered legal, this is called consideration. Please make sure that your realtor notifies you the moment their office has received the deposit in the listing brokerage this deposit is usually kept in a trust account and your realtor can provide you details of this.
Please do note that your offer can go through multiple negotiations back and forth between buyers and sellers, your realtor’s negotiation skills will come into play at this stage in getting you top dollar for your home.
Step 8 is post-offer once the offer is accepted and firm your lawyer will start the closing process at this time you will notify the utility companies and the municipality of the intent to move you will also start the process of buying a home if that\’s on your blueprint, you will have to go sign the documents a day or two before the closing and make sure that you drop off a set of keys for your lawyer so that they can be released to the buyer on the closing day.
Here\’s a tip for you Canada post offers a mail forwarding service that is really helpful if you haven\’t already changed the addresses on all of your bills. Canada post also informs the senders of all the mail changes to your new address.
Step 9 is a closing day. Typically closing days are 30 to 60 days from the acceptance of the offer for some people. Closing day is also a moving day and if that\’s the case in your situation then make sure you\’ve moved out of the property by mid-afternoon and the place has been cleaned thoroughly for your buyers.
It is a good practice to leave a thank you note for your buyers along with instructions for anything that they should know about a gift basket goes a long way in appreciating your buyers for buying your home so here you have it folks the nine steps to selling your home it usually takes three to six months to go through the entire process so plan accordingly.