How to Sell Your Home: A Step-by-Step Guide
Studies have shown that home sellers who hire a Realtor to assist with selling their home generally receive a higher price than those who sell their home themselves. Below is a step-by-step guide to selling your home with me as your listing agent.
Step 1: Select me as your Realtor.
I am a full service Realtor that recognizes that to obtain repeat customers and referrals I must provide sellers with the highest quality of service. My job is to guide you through each step of the home selling process and always keep you updated on where we are at in that process. I charge the industry standard of 3.2% to list and sell your home. If you are selling your home and planning to buy your new home in the Denver Metro area, you should take advantage of my Buy and Sell Program. With my Buy and Sell Program, I will only charge a 2.6% listing fee. That is a .6% savings over the industry standard!*
Step 2: Prepare your home for sale.
When preparing your home for sale it is important to see things from a home buyer’s perspective. Decluttering is one of the most effective things you can do to make your home more appealing. Making minor repairs is well worth the time and effort. At this time I will also go over the listing agreement and disclosure documents with you. You are required to disclose information about the condition of your home and potential hazards to the property.
Step 3: Determine the market value of your home.
I will prepare a comparative market analysis (CMA) for your home. This report will have all active listings that your home will be competing against as well as recently sold properties in your area. When choosing a price it is best to compare your house to similar square footage, layout, updates, lot size, and location. We will go through the report and determine an appropriate listing price.
Step 4: Market the property.
Well over 90% of home buyers begin their search online. Many buyers decide whether or not to visit a property based on the pictures they view online. I use a wide angle lens to capture the best photos of your home. In addition to being placed in the MLS, your home will be marketed on over 30 websites. I will also prepare a color brochure that will be placed in a flyer box on the yard sign.**
Step 5: Home showings begin.
Attempt to make your home available to as many potential buyers as possible. It is common practice for the seller to vacate the home during showings which typically last one hour. Have a plan in place for removing pets if needed. Be sure to have your home clean, and in great condition.
Step 6: Receive purchase offers and negotiate.
I will go over all offers received and explain the terms in detail. I will also review the preapproval letter for the buyer to ensure that the buyer is qualified to purchase your home. Once we have decided how to proceed with the offer I will negotiate any counterproposals on your behalf.
Step 7: Go under contract.
If we reach an agreement with the buyer on a purchase contract I will order the title commitment from the title company. The buyer’s earnest money will be deposited at the title company at this time. I will send your property disclosure documents to the buyer’s agent. I will also work with you and your HOA to obtain any documents that we are required to provide to the buyer. While we are under contract, I will keep you updated on any items that may development with the transaction. It will be your responsibility to provide the title company with your loan payoff information, if there is an existing loan on your property.
Step 8: Home inspection.
The buyer will typically have a professional inspector evaluate your home. Even if your home is in great condition, the buyer may ask for repairs on issues that you were not aware of. The buyer’s home inspector will typically inspect all major house systems including the roof, plumbing, electrical, HVAC systems, foundation, drainage, and any potential pest infestation. I will discuss any issues found with you, and negotiate with the buyers if needed.
Step 9: Home appraisal.
If the buyer is using a lender to purchase your home, the lender will require a home appraisal. The appraisal may include required repairs that must be completed in order for the buyer to obtain a loan. If the buyer of your home is using cash to purchase your home, a home appraisal is not required. However, the buyer of your home may still desire to perform a home appraisal. If the home is appraised at or above the purchase price we will move forward in the transaction. If it appraises below the purchase price we will discuss how to proceed.
Step 10: Final walk-through and closing.
The final walk-through is completed as close to closing as possible. It allows the buyer to confirm that any inspection issues have been taken care of. It also ensures that any inclusions written into the contract were left at the property. We will attend the closing at the title company which typically lasts about one hour. In Colorado most closings are face-to-face, which means the buyer will likely attend the closing. Once the buyer’s loan has funded and all documents are signed you will receive your proceeds in the form of a cashier’s check or a wire transfer.
*Commissions are negotiable and not set by law.
**Color brochures are not included with my Buy and Sell Program.
