Selling your home in the sought-after Tampa Bay area can bring you substantial profit. However, you will only get top dollar for your property if you take the right steps.
This sellers’ guide was prepared to help you understand the selling process and give you pointers on how you can close the right deal for your home.
Work with an experienced real estate agent
Working with an experienced and knowledgeable real estate agent will help you get the best possible value for your home and prevent it from sitting on the market longer than necessary. A Realtor will have the right tools, skills and savvy to reach potential buyers and negotiate strongly on your behalf.
Prepare your home for the sale
Together with your agent, and perhaps a professional home inspector, go through your home and identify where improvements and repairs may be needed. Essential parts of the home, such as the roofing and HVAC systems, have to be in top shape. Your real estate agent can help you identify home improvements and upgrades that may increase your home’s value. The agent may also connect you with a home staging professional, or provide pointers and help with staging your home.
Set the selling price
This step is very crucial in selling your home quickly and profitably. Overpricing can turn off potential buyers and drive them to seek other options. On the other hand, if you’re not well-versed on market conditions, you might under price and lose valuable opportunities.
Your real estate agent can help you set an appropriate and competitive price by doing a comparative market analysis. This will consider the price of similar homes sold recently in your neighborhood, current market trends, and the condition and desirability of your home.
Market your home
Your real estate agent will help you develop an effective marketing plan.
In this digital age, it’s important to have good exposure on major listing sites, such as Realtor.com, Zillow, and Trulia, as well as on social media. Your agent can provide access to these sites. It’s also crucial to have an attractive listing with professional-quality photos and well-written descriptions.
Other ways to market your home include advertising on real estate publications, spreading word about your home through the agent’s network, and e-mail marketing.
Go through each offer with your agent and review the offer price, terms, and contingencies presented by the buyer. You can then issue a counteroffer to any or all interested buyers. Offers and counteroffers are part of the negotiation process until you arrive at an agreement with the buyer.
Accept an offer and close
Once you accept an offer, you and the buyer will execute a sales agreement. The process then goes to escrow, which is largely automated. The buyer or their agent will typically be doing most of the work at this stage, including arranging for various inspections. It’s recommended that you or your representative be present during the inspections.
The sale is considered close when the title is transferred to the buyer.