Some 5 million existing homes are
sold each year, and while each transaction is different every owner wants the same thing -
the best possible deal with the least amount of hassle and aggravation.
Unfortunately, home selling has
become a more complex business than it used to be. New seller disclosure statements,
longer and more mysterious form agreements, and a range of environmental concerns have all
emerged in the past decade.
More importantly, the home-selling process has changed. Buyer
brokerage - where REALTORS® represent homebuyers - is now common nationwide, and good
buyer-brokers want the best for their clients.
The result is that while almost
100,000 existing homes are sold each week, the process is not as easy for sellers as it
was five or 10 years ago. Surviving in today's real estate world requires experience and
training in such fields as real estate marketing, financing, negotiation and closing - the
very expertise available from local REALTORS®.
Are you ready?
The home-selling process typically
starts several months before a property is made available for sale. It's necessary to look
at a home through the eyes of a prospective buyer and determine what needs to be cleaned,
painted, repaired and tossed out.
Ask yourself: If you were buying this home what would you want to
see? The goal is to show a home which looks good, maximizes space and attracts as many
buyers - and as much demand - as possible.
While part of the "getting ready" phase relates to
repairs, painting and other home improvements, this is also a good time to ask why you
really want to sell.
Selling a home is an important
matter and there should be a good reason to sell - perhaps a job change to a new community
or the need for more space. Your reason for selling can impact the negotiating process so
it's important to discuss your needs and wants in private with the REALTOR® who lists
your home.
When should you sell?
The marketplace tends to be more active
in the summer because parents want to enroll children in classes at the beginning of the
school year (usually August). The summer is also typically when most homes are likely to
be available.
Generally speaking, markets tend to have some balance between buyers
and sellers year-round. In a given community, for example, there may be fewer buyers in
late December, but there are also likely to be fewer homes available for purchase. So,
home prices tend to rise or fall because of general demand patterns rather than the time
of the year.
Owners are encouraged to sell when the property is ready for sale,
there is a need or desire to sell, and the services of a local REALTOR® have been
retained.