Selling Your Home?
Now is a great time to sell! Since the beginning of the year, we have seen many clear and positive changes to the Phoenix-area real estate market. Overall, inventory supply is down and buyer demand is up. The number of bank-owned home sales and short sales on the market have decreased. Traditional equity home sales have increased. Interest rates are at historical lows and the good news is home prices are going up!
Are you a current homeowner and considering selling your home? Whether you are a seasoned home seller or a first-time home seller it is important to arm yourself with the right information given today’s real estate environment. It is imperative that you clearly define your goals and make sound decisions for your finances and family. The Angelo Group is here to help guide you along the way. Our goal is to help you sell your home in the shortest amount of time, for the most amount of money, with the least amount of stress and all the while keeping you well-informed and empowered throughout the process.
1. Determine if now is the best time to sell
There are many factors that come into play when deciding if now is the best time to sell your home. A Realtor® can show you exactly what the current market conditions in your area look like, from the current listing count, to the number of traditional sales, distressed sales and new home sales in your area, as well as builder permits and inventory supply data. Examining how this information fits in with your unique timeline, financial goals and your property equity will help you answer the question, “Is now the right time for me to sell?”
2. Identify a brokerage and an agent
Once you have decided that you are ready to sell, carefully selecting a brokerage and an agent will save you time, money and hassle. This is the time to ask a lot of questions. Your friends, family and neighbors are a great source for referrals. Finding an agent that specializes in your area, and has experience listing and selling homes in your price range is important. A real estate professional that belongs to a reputable brokerage and local board, and can readily share with you their business plan, mission statement, client testimonials and marketing plan, along with a detailed comparative market analysis and complete property profile is one who has done their homework and is armed with experience and knowledge.
3. Determine list price
Pricing your home correctly is a decision that you and your agent will make together, after examining all of the factors involved. After gathering information about your unique situation, the current market conditions, as well as understanding your home’s key features and assets including area amenities, schools and projected improvements, the right price point will become clear. Pricing your home correctly is the key to attracting potential buyers to view your home, while making sure your financial interests and timeframe are supported. The right real estate professional can help you achieve that balance.
4. Merchandise and stage the property
Even in a low-inventory market, would-be buyers can end up viewing dozens of homes, many times all in the same day. How will your home stand out? Making the right first impression, whether in photos posted online or during an in-person viewing, is crucial. Your agent can make recommendations about maximizing your homes living space, enhancing natural lighting and utilizing your homes’ décor to highlight the best aspects of your home.
5. Market the property
Once your home is ready to be shown at its best, it is important to give your home the most exposure possible. The key is to use multiple channels to advertise your home, utilizing the power of a strong network while your home is “coming soon” to the market, then engaging the full power of the Arizona Multiple Listing System, along with word-of-mouth, online & print advertising and social media to give your home local, regional, national and global reach. The right real estate professional will provide you with a customized marketing plan that works to target the right buyers for your home.
6. Receive Offers
Most offers on your home will be made in the form of a written contract complete with a time frame for responding to the offer. All offers for your property will generally first be presented to your real estate professional, who will then present all offers to you for consideration. Your real estate agent will provide an objective, non-emotional point of view when it comes to evaluating, accepting, countering or rejecting an offer.
7. Negotiate Offers
If you receive an offer that falls short of your wants and needs, you may choose to counter back and negotiate the offer. Your agent will help you evaluate the quality of the offer, negotiate the terms and ensure a smooth transaction if all parties come to an agreement. Requesting information about the buyer’s background, intentions and qualifications and ensure that the buyer is knowledgeable about available financing alternatives are some of the steps your agent can take. Thoroughly reviewing the contract and ensuring that you understand all of the details will help you determine if you want to respond with a counter offer.
8. Escrow Period
You are in escrow… now what? Your real estate professional will help keep your transaction on track during the escrow process. Preparing a timeline, managing all files, paperwork and disclosures, and staying in constant communication with you, the buyer’s agent, title officers and mortgage professionals will keep your transaction on course. The home inspection process, pest inspection, appraisal and closing schedules will all be put into motion to eliminate any surprises along the way.
Congratulations! You have made it from the negotiation table to the closing table. Your real estate professional will help guide you through the final phases of the transaction by staying on top of the finishing details such as closing documents, loan documents, funding information, final recordation, delivering the keys and orchestrating move details.