There are several reasons for selling a property: a new job, downsizing, and life changes, among others. The home selling process has a lot of steps, but here are eight effective steps that you need to focus on.
1. Get Ready to Sell Your Home
Do you need to move out as soon as possible for some reason? Does your home need to be on the market before a certain date? Will you be using the proceeds of your old home for your new home? You need to identify your selling goals first. Once you have identified these, it’s time to get ready for showings. Your home needs to look like new.
Deep clean. Cleaning your home before you sell has become even more vital than ever because of the pandemic. You should hire professionals to ensure that everything is sanitized. You will recover the cost of cleaning with a higher offer.
List down things that need repair. Buyers like houses that look new. They are looking for a new beginning. You should consider all major and minor repairs that you want to do. List items that you will need to take when you move out. Some buyers would also like to fix some parts of the house, so be prepared for that as well.
2. Choose Your Realtor
You need to choose a real estate team in DC to handle all aspects of real estate transactions. A trusted and experienced realtor will assist you in complicated processes to save you time (and stress).
3. Get to Know The Market
You need to understand the market so you will know what to expect during your home sale. Potential buyers are looking for pandemic-friendly parts of your home, so you should highlight your home office, gyms, study areas, and master baths, to name a few.
Determine when to sell. Right timing is very crucial. May to July is the best month to sell houses in DC based on market data. There might be upward trends in other months, so you need to be constantly looking for an opportunity to sell.
4. Price Your Home
Your home’s value must include home improvements, real estate trends, and home design trends. Appraisals and inspections are part of the selling process. A house is an investment, so you shouldn’t settle for less, but you also shouldn’t overprice. Consult about the price of nearby houses in your area. You can check data from Competitive Market Analysis (CMA). They have house listings that have been sold and are currently up for sale.
5. Put Your Home on the Market
Your real estate team in DC will work with you to come up with a marketing plan to list your home. They should feature your listing on their website and connect with interested clients.
Have professional photos or videos taken? Because of the pandemic, most buyers now view homes virtually. They would then decide which houses to see in person. Having a professional photographer take pictures will ensure that you can compete with other homes for sale in DC. You should also consider hiring a videographer to film a virtual tour of your home. This will provide the best first impression for buyers looking for homes online.
Promote on social media. According to the National Association of Realtors, social media is a top tool for high-quality leads. Work with a realtor with a strong social media presence so they can market your home efficiently through all social media channels. You can share their posts on your own Facebook and Instagram accounts to increase exposure.
6. Make Your Home Available
Home buyers like privacy when viewing homes, so you should leave home during the showing. They would like to imagine themselves living in the home and discuss the price, location, and amenities which they couldn’t do if you were present. The more tours, the better.
Your realtor would most likely suggest offering virtual tours. Prospective buyers will have a chance to look at your home without having to visit in person. This will also allow you to reach a wider audience from other cities and states who plan to relocate to DC.
Make in-person showings safe. This should be limited to an invite-only showing to serious buyers. Showings should be limited to one interested party at a time, with time to clean and sanitize in between. Social distancing should be in place, and consistent wearing of face masks. Gloves, hand sanitizers, and masks should be available in common areas of the home.
7. Negotiate the Best Price
Once you have an offer, your realtor should let you know whether you need to negotiate. Your realtor can convey repair credits, the closing date, possibilities, and other transaction aspects to the buyer. Your real estate team in DC will make sure you get the best deal possible. The purchase agreement will be signed once you agree.
Here are some factors to weigh in:
- Do you want the payment in cash or a mortgage?
- Who is the buyer?
- When is the closing period?
- What is the home value?
8. Close and Move Out
On closing day, you will officially transfer your home to the buyer. Selling a house in DC requires a Seller’s Disclosure Agreement before signing. Once you pass the buyer’s final inspection of the property, you can now sign and proceed to the lawyer’s office. You will pay closing costs and receive the payment from the sale. On the agreed date, you should be able to move out. Signed, sealed, delivered – you just sold your home.
These essentials of selling a home can help you figure out where you are in the process and what are the next steps. The DC Team at Long & Foster offers the finest selection of luxury homes for sale in the Washington, DC area. By working with us, you’re relying on the best professionals to sell or buy a home in the most affluent DC neighborhoods and the most sought-after, top luxury real estate destinations.