The holidays are a time to share memories with your family, give gifts, enjoy delicious meals, and reconnect with old friends.
In addition to the fun, the holiday season is also a time to reflect and plan for the future.
As 2018 begins, it’s important to take another look at your financial situation and ensure your investments are positioned to maximize your return. This couldn’t be more true for your home, which in many cases may be your biggest investment of all.
No matter if you’ve already committed to selling your property in 2018 or are just testing the waters, our team compiled a simple, step-by-step guide to help you better navigate the real estate sales process.
Step #1: Making the Decision
Selling your home is not a decision to take lightly. While it can be extremely lucrative, it also requires a commitment of your time and energy.
We always advise clients to do a little research before moving forward. If a property in your area is for sale, stop by the open house or search the address online to get a sense of the neighborhood. With so many free real estate tools on the internet, it’s easy to get a ballpark idea of the market without even leaving your couch.
Step #2: Choosing the Right Listing Agent
Choosing a real estate agent is the single most important decision you make as a homeowner.
Your partnership with an agent can make or break the return on your investment, amount of time your property is on the market, and your future success in real estate.
Don’t you want to work with a professional who is focused on you and your best interests? Be sure to vet both the agent and the brokerage firm in general before signing an agreement.
Step #3: Picking Your Home Improvement Battles
Is now the time to renovate your kitchen and upgrade to granite countertops? What about the latest stainless steel appliances? Or the bushes in your front yard?
You have to go into the sales process knowing you likely won’t recoup the full cost of every maintenance project. That’s why it’s necessary to choose home improvement projects wisely and select the ones that will have the maximum impact. You may end up looking at the fiber cement siding cost on the front range and deciding that doing that is a better investment than completely redoing your entire bathroom.
If you’re willing to spend money to improve the asking price of your property, you could also consider building a conservatory. Conservatories can add value to a property at a lesser cost than an extension, so are often a popular choice. Furthermore, conservatories come in many different shapes and sizes to fit various lifestyles so there is something to suit most renovation budgets. You may not think that they need changing, but upgrading or replacing the windows and doors in your home will likely lead to selling your home at a higher price than what you originally thought. If this is the case, then you may wish to contact a window and door company who will be able to suggest the best styles for your home to make it look as good as new.
This is one area in which a seasoned real estate professional can guide you. An expert agent will know the features buyers are most interested in (and will pay for) and how your neighborhood compares.
If you have a shed or a cabin in your backyard then you might want to consider the various Inspiration Room ideas that you could use to transform it into something with even more character which would also provide your property with more usable space and, hopefully, value. An outhouse or an annex is often a popular feature amongst buyers.
Step #4: Boosting the Overall Image
Often times, a few simple fixes can have a dramatic impact on the overall image of your home. Here are some examples:
- Hiring an architectural photographer
- Properly staging your home for showings
- Reducing clutter
- Fixing scuff marks
- Touching up and painting walls
These low-cost fixes prove to be invaluable when it comes time to sell. Start by making a to-do list and marking off each item so you don’t get overwhelmed!
Step #5: Pricing & Listing
Again, a real estate professional is your best resource during this stage of the process. In addition to their market expertise and conversations with potential buyers, the agent will pull comparable reports, analyze local sales metrics, highlight the unique features of your home, and then price your property accordingly.
The initial listing price is crucial. Real estate markets tend to be extremely unforgiving when it comes to overpriced properties, so it’s important to get this right from day #1.
Step #6: Reviewing Offers & Navigating the Closing Process
Rely on your agent to handle negotiations and present buyers who are ready to move forward. Having an intermediary working in your favor (i.e. a real estate agent) during this phase is necessary to insulate you as the seller, remove emotions from the transaction, and fight for your best interests.
When it comes time to close, you and your agent will work with a few other parties to complete the transaction: the buyer’s agent, lenders, title/escrow companies, etc.
A reputable real estate firm will have mortgage, title, and legal advisors on hand for any questions.
At Spectrum, we serve as our clients’ foremost advocates. We have over 50 years of experience and $5 billion in sales to back up our real estate philosophy.
When you call, we answer. Unlike other real estate firms, you are our primary focus, and we know our combined success is dependent upon our attention to detail.
Speak with us today to learn more about what makes our real estate process unique: email@example.com / +1 (305) 921-0972