One of the biggest items that causes our clients anxiety is their desire to buy a new home, but they need to sell their existing home first and don't want to do a double move! We are contingency specialists and we have helped many people move into their new home and never have we had to have someone do a double move! So what are the top things you can do in order to sell your existing home? Here are our best tips and tricks to make it a seamless transition into your next home!
1. Prior to going and looking at homes, get a complete market analysis of your home.
This would include to hire a well qualified agent to come and meet with you (hopefully me!), walk your home together and review all relevant data for your home.During the meeting they would review the net sheet for your home so you can see financially what you will walk away with if you decide to sell your home. Also, I will be able to tell you market time to sell on average in the area.
2. Take staging advice from your agent, and analyze what they are recommending.
There are typically 7 reasons a home doesn't sell. As I walk through a home with my clients I always let them know what I would recommend for any changes and always guarding the costs as much as possible. We offer complementary staging service for our clients.
3. If you need financing pre-qualify for your loan with a reputable lender.
Many times clients want to wait until they find a home prior to do doing this important step, only to find out that the people who have already done this has a leg up on them. Once you decide on a property, many times it is too late to get this step done as the people competing against you are already ready. The Stevenson Team can refer you to several different loan officers to begin this process.
4. Review the complete marketing plan your agent provides you for your home.
Look at examples they have used in the past. Review their online reviews at Zillow.com or Trulia.com.
Finally ask to see their activity for the last year and what their sold to close ratio is - are they having to take major price reductions to sell their properties? Is the marketing nothing more than iPhone photos and a listing in the MLS? How do they feel about open houses? How are the going to market your property and make you stand out from the competition? The market will dictate the price so DO NOT list with the person who says that they can sell it for the most money without any data to back up their claims. Note: The average real estate agent spends less than $200 on their listings (The Stevenson Team spends on average of $3500 to $5000 on each of our listings we sell!)
5. List your home, and go out and see what homes are available to you with your agent.
Once you list your home, in order to market it correctly the agent will need time, and there may be things that you need to do in order to start showing the home. Get the home listed and "Coming Soon" sign up in front. If you are unable to find something you like, at least you will be ready when you do!
6. Make your home available to be seen by potential buyers.
I know it is hard to sell a home when you are living in it, and most the time people want to look at the home is on the weekends when you may be off from work. We have a very effective strategy to try and help this process from totally disrupting your lives.
7. Once you have an offer on your home, counter to the terms that makes the dual closing work.
We always counter that the home is contingent on the successful close of escrow of replacement property. We also ask for occupancy to be given 5 days after closing - meaning if you close on the 1st you have to move by the 6th. We do this so your funds can move to the next escrow smoothly and give you plenty of time to move. We also request that the buyers utilize the same escrow and title services we are using on your home so it is a seamless transition!
If you are interested in possibly seeing what your home is worth and beginning the following steps to move into your new home then contact us HERE and we can help you with that process.
In our next blog we will be reviewing the top 7 reasons that homes don't sell in today's market! You won't want to miss it!
Good luck and good selling!