Real Estate Marketing Specialists

A Road Map for Home Sellers

A Road Map for Home Sellers

Selling a Home is A Process

Selling a home in the Frederick Real Estate Market is never an event…it’s a process. It has been taking an average of 3 or 4  months in Frederick. Of course, that time-frame varies depending on the condition of the home and the demand.  The process can be complicated, as in a short sale, or in keeping with traditional expectations with a property in an area and price range that is in high demand. Add into that mix the unpredictability of human behavior, and that’s where we realize averages don’t always matter. Whatever the case, the steps in selling a home are fairly similar. Here is a road map for home sellers to help them understand a “typical” home selling process:

🏎 A Road Map for Frederick Home Sellers

A Road Map for Home Sellers

💨 Starting Point: Meet With A Real Estate Professional

The first step in the process of selling your home is to meet with a Realtor®. The real estate agent is you point of contact throughout the process. A reputable, experienced agent will gather a team of professionals to help with the sale of your home every step of the way. Choose an experienced local agent to guide you through their road map for home sellers.

There’s no commitment required on your part for the initial meeting with a Realtor®. It will be educational for you to learn about the steps involved in the process of selling your home. Your agent will give you advice for your personal goals, based on their experience in your local market. Even though home sellers are listing their homes every day, each home is different and each homeowner is unique, with goals, timelines and resources that will require a strategic plan for success. Every market and geographic area also has nuances that must be considered when the strategy evolves.

💵 Strategic Pricing for Your Home

Your agent will provide a market analysis, which will help you set an asking price. As difficult as it may be, it’s important to review the market analysis and consider your home price objectively. Pricing a home correctly is a very important first step, and getting that wrong can potentially cost a home seller, both financially and in wasted time on the market.

Overpricing for the sake of “negotiating room” is one of those mistakes that we see far too often. Many sellers don’t realize that the dangers of overpricing and the chilling effect it has on showing your home. If you can’t get people to come and tour your home in the first place because it is overpriced for the market, you won’t be able to sell. Getting traffic is the prerequisite to getting offers.

🔨 Prepare Your Home for the Market

Getting your real estate agent’s advice on home preparation is an important step before you get started in the process. An experienced local agent is knowledgeable about your market and the competition. They will know what people expect to find in a house in your price range and in your neighborhood. Their advice can not only help you prepare your home to maximize its appeal, but they can save you wasted time and money on improvements that don’t really matter.

Preparing your home takes objectivity. View your home through the eyes of the buyer and ask yourself what you would expect. Remember that buyers are viewing on average one dozen homes that are in their price range. Yours must stack up to the competition.

🏠 List Your Home for Sale

When everything is in place and your house is ready to show off her best features, and within your time frame, your agent will list your home on the open market. Choosing an agent who is a savvy internet marketer can make all the difference in your success. Some agents just do the bare minimum and list a home on the MLS. Savvy agents know that HOW that home is listed matters. Professional photos and high definition video will go a long way to gather interest in your home. Great internet marketing will throw a broader wider net and capture more buyers’ interest, and get more foot traffic through your home.

🚪 Showing Your Home

It is critical you make it as easy as possible for potential buyers to view your home. Potential buyers may ask to see your home on short notice. It’s best if you can accommodate these requests if at all possible. You never know which one will be the buyer that will fall in love. Yes, showing your home can be a life interruption, but the more accommodating you are, the sooner your house will sell.

✍ Offers and Negotiations

If everything goes well, a buyer (and most often the agent who represents them) will present your agent with an offer. Traditional real estate marketing statistics tell us that if your home is priced well and in good condition, and if the marketing is effective, you should get an offer for every 11 showings. True story!

If you aren’t getting offers, you should revisit your price and the condition of your home. Your agent will have solicited showing feedback which will be constructive and helpful in determining what adjustments you’ll need to make.

📜 Congratulations! Your Home is Under Contract

Your agent will present all offers and the benefits and risks of each one. You will have the opportunity to either accept or counter any offer based on is merits. Sometimes negotiations can take several rounds until you have a “meeting of the minds” with the buyer. The best advice during negotiations: Don’t let emotions rule.

At this point, you and the buyer have agreed to all of the terms of the offer and both parties have signed the agreements. Now you have a “ratified” contract.

🔎 Final Details

During the time period from contract to closing, which these days can take from 45 to 60 days, your agent will stress that “time is of the essence”. Any contingencies that you have agreed to have time frames that must be kept.

The buyer will usually perform a physical home inspection. They may ask for certain repairs. Your agent will help you understand your options and negotiate regarding the home inspection.

While under contract, the buyer (90% of the time will be financing the home purchase) will work with their mortgage provider to finalize the loan and perform other due diligence. There will be an appraisal and a pest inspection, among other items.

🥂Closing Day

After all contingencies have been met, the buyer’s file goes to underwriting. Within a short time the transaction will go to closing. This is the transfer of funds and ownership. The buyer will do a final walk-through shortly before settlement and you will need to be all packed up and moved out, unless there was some other arrangement.

🏁Finish Line: MovingA road map for home sellers

Your Realtor® will be helpful in referring a good moving company if you need one. Real estate agents are experienced at moving people in and out of homes and want to make sure the entire process goes well from start to finish. Moving the family and the stuff, and even the pets is all part of the process. Congratulations, you’ve made it to the end of a road map for home sellers!

‍Make or Break Success: Choosing the Right Real Estate Professionals

When you are considering selling your home, contact an experienced Maryland agent, like Chris Highland, as early as possible in the process. Getting the proper advice all along the way will assure you the greatest chance of success. Selling your home for the most money in the shortest amount of time is always the best goal. Use an agent who has your priorities as their priorities and you will do well. A road map for home sellers is your best place to start understanding the process.
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Chris Highland, Broker eXp Realty Maryland
Cell:  301-401-5119  Broker:  888-860-7369
Chris@ChrisHighland.com

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A Road Map for Home Sellers
Article Name
A Road Map for Home Sellers
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Selling a home in the Frederick Real Estate Market is never an event...it's a process. Here is a road map for home sellers to help them understand a "typical" home selling process:
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Chris Highland with eXp Realty
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