The Selling Process in 10 Simple Steps
Know the steps, read our guide. We’re excited about you knowing the steps and learning them here. Just imagine being a cashier and each step is another person in line. Each cart is the same but the contents are not. Each step is altered based on the terms of their deal. Shoppers choose what they get to put in and take out. Sellers get to choose what’s available and what’s not. No two deals are the same. Some shoppers will need more and some shoppers will need less, affecting each step. We’ve compacted the steps and squeezed them to 10. Please see our guide below to give a quick overview of what to expect…
1) DECIDING TO SELL
Life happens and now you’ve decided to sell. At some point we’ll on be on this road. Many things will inspire these thoughts. The most common are relocating for work, wanting to upgrade, deciding to downsize, trying to get closer to family, tired of the neighbors, or the kids in better schools. This is the research phase where thoughts will start to manifest within and inspire your next steps. Ask a lot of questions, how much can I get? Put the family on board, you’re sailing this ship.
2) CONSULT WITH AN AGENT
Congrats, you’re going to sell! Plus, the family’s on board. By this step you thought could we sell this ourselves then decided an agent is best. Here you’ll sit and interview with a few, you’ll definitely want to take the time. The most common mistakes are hiring a friend and/or not doing your research on the realtor’s results. Here you’ll weed out the bad and hire the best. Testimonials help. The agent will go over needed repairs, make arrangements and go over what’s next.
3) PREPARING TO LIST
Send out the invites! You’ll phone over the housekeeper, a handyman, maybe a guy for repairs, someone for the lawn, a power wash or do it yourself. Repair now and save later is the idea. Here you’ll be getting ready for showings and professional photography too. Photography is important, it is vital for good ads. Your marketing material starts here so declutter a lot. Remove items from sinks, counter-tops, dressers, tubs and showers. Hide the toothbrushes and meds. The camera catches it all.
4) DEVELOP A PLAN
Hello step 4! By this time you’ve signed a listing agreement, completed the community association form and returned the sellers disclosure. Give your agent any document support. The more info you supply the easier it goes. You’ve also determined where you’ll go in the event of a sale. Photos are put together and videos are produced. You’ve targeted your buyer, pin pointed their demographics and analyzed the stats. Numbers work well in strategically aiming for success. Remember being prepared optimizes results.
5) ENACTING A STRATEGY
Show and sell! Your high definition photos look fresh, video looks great, a target in mind, sign on the yard, and a lockbox at the door. Listing description is tailored for the idea buyer in mind. All material is uploaded into the MLS. Syndication to major home sites is set. Beautiful flyers are completed, listing brochures look great, get ready to leave. Postcards are sent. Social networks on blast, groups, forums, and Facebook pages. We’re locally and globally known.
6) NEGOTIATE AN OFFER
Oh shoot you got an offer! But let’s talk about price. What are these terms? We didn’t expect this? Definitely not your concern. A good agent will have you prepared. The goal is to minimize surprise. Common request should be discussed. Your options here are to accept, reject or counter. Remember you’re in control. However, before rejecting an offer it’s a good idea to sleep on those thoughts. There are cons to rejecting a buyer, make sure you’re okay with those affects.
7) SEALING THE DEAL
Offer accepted. You’ve pended the sale, this is the step before sold. Earnest money is deposited in good faith. It is held until close. The due diligence period you negotiated will start. Inspections are scheduled timely and you’ll leave to accommodate. Repairs may be requested. Renegotiation happens. Be careful when rejecting repairs. Buyers can walk within their due diligence time. Earnest is then refunded back. Deal moves forward once terms are successfully met.
8) TYING UP LOOSE ENDS
Thank goodness that’s over. It’s time to roll up the sleeves. Local contractors are phoned. Agreed upon repairs are made. Receipts/Invoices are forwarded as proof of repair. Buyers may schedule a reinspect to confirm all work was complete. An appraisal is completed. Good thing you priced right, and research some tips. Attorney contacts the bank and payoff(s) are requested. Closing statements are sent. You’re almost there. Missing a step? Check out our home buyer steps to compare.
9) PREPARING TO MOVE
Hang tight! It can definitely be a lot. Trust us we know! However, you made it this far. Next step, call the utilities. Set to turn them off and make the arrangement for your next. Notify the post office. Prepare any needed transfers for schools. Get copies of any important medical docs. Arrange any info you think your buyer would want. It really means a lot. Schedule to clean. Gather the keys. Confirm the moving truck. Boxes and packing tape, turn off the lights.
10) CLOSING THE DEAL
Okay, let’s recap. You decided and prepared to sell. Found the best agent. Cleaned daily. Left for showings. Managed to capture a buyer. Negotiated like a pro. Survived the inspection. Can’t nobody hold you down! Orchestrated your move. Set a final walk through. You’re ready to close. The closing attorney will have a lot of paperwork for the buyer to sign. Read everything carefully through. Be excited about handing over the keys. Congrats, you’ve successfully sold.
As you can see, each step can require a lot. Proper guidance is smart. When it comes to selling a home there can be many moving parts. From proper representation, to free home marketing services, and fiduciary support we would be happy to discuss. Don’t hesitate to ask!
HELPFUL TIP: When you invest in stocks you’ll watch the market. When you decide to sell you’ll want to keep an eye on your marketing. Making sure there’s attention to detail can be a very smart step. #SmartPeopleUseKali