It is common to hear people say that they are putting off the sale of their house because of the current state of the market. If you ask any good real estate agent like Kale Realty, there is no perfect time to buy or sell the home of your dream as there are various reasons why people put up their properties in the market.
The most common cause is usually related to the financial situation the homeowners are experiencing.
Declaring that your house is up for sale is not the only way to prepare your home. There are other contributing factors that play on the success of your property’s sale. Here are the steps Kale Realty recommends when you are selling your home.
1. Choose a real estate agent.
Your agent is in charge of keeping you in the loop of seller updates. Moreover, they are in charge of advertising, showing the house to prospective buyers and completing the legal requirements to sell your home successfully. You could try selling your property without using an agent or a broker, but this is not adviced as you may make costly errors along the way.
2. Determine your selling price.
The next step after choosing an agent is determining the real value of your property and how much you are willing to sell it for. A quick sale will entail you to keep the price low. However, many agents will also encourage their sellers to stick to the real value. That way when negotiations begin, there is more room for the buyers to bargain.
3. Sign an agreement with the agent or broker.
You will have to sign a contract that will legally bind you to pay the broker or the agent the commission they asked for. The agreement also includes the provisions of the advertising and many more.
4. Showing your property.
Most agents and brokers post their properties for sale online. Which means you need to photograph your house, draw up flor plans and produce online ads. It is also imperative that you and your agent get on the same page on how to present the property.
5. Entertaining buyers.
Buyers who are interested in your home will contact your agent and arrange a visit to view your house. They may also sign up to attend the open house your agent is conducting. When you and your agent starts entertaining prospective buyers, make sure to highlight the best spots of the property.
6. Negotiation begins.
Your agent will act as a mediator between you and the buyer to reach a mutual understanding of the property’s selling price. The agent will also be responsible for handling the rest of the complicated paperwork. Once everyone is in agreement, the buyer can now begin to pay.
7. Settlement day.
When everything goes according to plan, you can now hand the keys and the legal rights of your house to the new owner. Congratulations! You have now sold your home!
So if you follow the above 7 steps as highlighted by top Chicago broker Kale Realty, you will have a better start than 95% of the other sellers who did not think in depth about all these details. Prices are getting much better and the market has completely recovered from the 2008 real estate crisis.
If we have a look at the world in general, real estate markets are doing extremely well in most parts of the world. Cities like Hong Kong and Vancouver are even reaching record breaking prices with the experts talking about overheating markets. So if you want to sell your house now, this could be a great timing.