Welcome back to Part 2 of 3 of my blog series on key steps to selling your home. Are you considering selling your home, but you aren’t exactly sure how the process works? Does the thought of selling your home feel intimidating or overwhelming? In this video series I’m going to share with you the key steps to selling your home from start to finish to help alleviate the feelings of being overwhelmed and the intimidation factors that come when you decide you want to move.
Today we are going to discuss the next 3 key steps to selling your home. In the previous video we covered discovering your reason for selling, finding a realtor and preparing your home. So what’s next? Let’s dive in.
Step 4: Pricing Strategy
If you’re thinking of selling your house, you may ask yourself “How much is your house worth in today’s local real estate market? Putting a price tag on a home you are trying to sell is a tricky thing. The single most important factor to consider when selling a house is pricing the house correctly from the beginning.
You’ve got 3 options when it comes to pricing your home: above, at, or below market value.
I know pricing it high can be tempting, but keep in mind the pros and cons each option.
Above market value: It will take longer to sell, More days on market the worse it looks to prospects, and the biggest risk is that the home may not appraise by buyers lenders and then we are back to negotiations, because gone are the days of buyers paying more than appraised value.
At market value : No appraisal issues, buyers agents will recognize fair pricing and you will show up in relevant buyer search, not many risks with this scenario
Below market value: Home will receive more interest and likely sell quicker, you may get multiple offers which may include an offer higher than asking price, the risk is having to sell at a lower price than market value.
This is why you have hired a professional Realtor who will analyze current market trends and recent sales to price the home appropriately.
Step 5: Staging Your Home
Preparing your home to sell may include a variety of things such as rearranging your furniture, organizing and decorating in a way that appeals to the widest range of potential buyers.
Staging your home can take many different forms and require varying levels of effort, but here are a few key tips:
Declutter, clean and depersonalize.
Select a staging plan that fits your needs – Do it yourself or hiring a professional.
Step 6: Marketing Strategies
Once your home is ready for buyers, the next step is getting your listing in front of as many buyers as possible. Here are some steps a Realtor will take to get your home in front of as many people as possible.
Advertise across multiple channels: for sale sign, flyers, mailers, online marketing, social media marketing, video marketing and putting it on the multiple listing service.
- Professional photos are a MUST. Majority of buyers are searching online so your home has to make the best first impression and professional photos can go along way.
- Open Houses – this is a great way to get foot traffic through your home for potential buyers that may have not seen it online.
Remember selling your home is marathon not a sprint. There is a method to the madness and each step needs to be followed in order for a Realtor to give you the best advice and service possible. If you found these tips helpful then you may also be interested in my next video where I will continue to discuss the key steps to selling your home. In this video I will be discussing showings, negotiations and closing on a home.
If you have any other questions regarding the buying and selling process in the Greater Phoenix Marketplace please reach out. I’m a seasoned agent with 15+ years experience here to help you with one of the biggest financial decisions you will make.
If you have any other questions regarding the buying and selling process in the Greater Phoenix Marketplace please reach out. I’m a seasoned agent with 15+ years experience here to help you with one of the biggest financial decisions you will make.
