Steps to Selling a Home
1. Set your criteria
Every Seller’s needs are different. It is important to make a list of what is important to you
and then relay that list to your agent so he or she can make the process of selling your
home as easy as possible. Issues important to you may include Buyer’s Qualifications,
Multiple Listing Service, Broker Commissions, Showing Procedures, Advertising, Open
Houses, Inconvenience, Possession by Purchaser, Pricing, Closing Costs, Security, Salability,
Financing Options, Negotiations, Timelines
2. Pricing Your Property
Determining price is one of the most critical steps in preparing your home for sale. A well
priced home often sells quickly once it is put on the market and can often result in multiple
offers and possible bidding wars, while an overpriced property may linger on the market
unnecessarily causing costly delays.
When your home is priced right from the outset, you maximize your opportunity of
reaching the most qualified buyers and obtaining top dollar.
• Pricing your home correctly:
o Can save valuable time negotiating the sale of you property
o Reduces risk because overpriced home’s may eliminate some buyers if it is out
of their price range or the pricing outweighs the homes true value
o Ensures that other agents will show the home promptly to their clients
o It's good when it comes time to appraise. Your home must appraise at the
selling price for the buyer to get financing
o Makes it competitive in a market where multiple similar properties may exist.
o Encourages multiple offers and raises your chances of attracting more than
one buyer who will compete to bid on your property
3. Tips to Prepare Your Home for Sale
• Tidy up the grounds, porches and garage. Keep the lawn trimmed and edged.
Make sure that your yard is clean. First impressions count!
• Your front door adds to that first impression - be sure it is scrubbed or repainted
if necessary.
• Wash windows and clean/dust window coverings.
• If any decorating or painting is needed (especially in the kitchen), do it now!
Twenty dollars worth of paint will make a much larger difference in the sales
price.
• Bathrooms help sell homes. Make this room sparkle.
• Illumination is like a welcome sign. Replace bulbs and turn on the lights.
• Wash dishes, make beds, put away clothes and straighten up.
• Keep pets out of the way during showings – many people are allergic.
• Leave the showing to the salesperson. The salesperson knows the buyer’s
requirements and can best emphasize the features of your home. If possible, leave
the house during a showing.
• Don’t discuss anything about the sale with a potential customer. Let your agent
discuss price, terms, possession and other items concerning the sale. Your agent is
qualified to bring negotiations to a favorable conclusion.
• Never apologize for appearance, it either distracts or accentuates the problem.
• Pack away valuables; store extra furniture, knick-knacks, guns and medicines.
Look at your home objectively. Pretend you are seeing it for the first time, through a
buyer’s eyes
You only have one chance to make that good first impression!
4. Marketing Your Home
Specific marketing activities to sell your home begin the moment you sign the Listing
Agreement. A marketing plan exposes your home to as many potential purchasers as
possible - making them aware of the key selling features and benefits of YOUR home.
Possible ways to market your home include:
• Listing your home on the Multiple Listing Service
• Internet exposure across the Web on Multiple Websites
• Installation of a “For Sale” sign (if you desire)
• A custom property profile flyer
• Brokers Open Houses –other agents who work this area can stop by and preview
your home for their clients
• Public Open House events – exposing your home to potential buyers
• Print Advertising by way of Newspapers, Magazines, Postcards and Flyers
5. Seller Etiquette
A. Dealing Directly with buyers
• Occasionally and unrepresented buyer may approach you directly
While it may seem helpful to give them a tour or discuss your home with
them, this is generally not a good idea. Instead Politely direct them to your
agent to schedule tours and to provide them with an information they need
regarding your home.
B. Dealing Directly with other Agents
• Due to the amount of marketing that goes into selling your home
• Typically all Marketing materials for your home clearly state your agent as
The contact for your home…
C. Understanding the Buyer
• During the marketing process your agent will be giving you feedback each
Time a prospective buyer walks through your home. In reviewing this
feedback it is important to remember that just like each seller, buyers all
have different likes and dislikes. It is never worth your time to become
offended at the feedback you receive about your home. Remember there is
only so much you can control.
Can Control
• Price
• Condition of the home
• Marketing Plan
Cannot Control
• Size
• Location
• Neighbors
• Floor Plan/ Amenities
• In some cases a seller can remodel their home to fit current trends, but
never do so without consulting your agent, who will help you
determine Cost vs. Value
6. The Negotiation Process
A. Real Estate Purchase Contract from a buyer includes Price, Earnest Money,
Deadlines, Contingencies. The Counter- additional addendums to the Initial
Contract will be used to respond
B. to the original offer. It may include changing any or all of the details such as Price,
Deadlines, Inspections, sellers Disclosures and Contingencies.
C. The Acceptance
D. The Due Diligence- waiting period between the accepted offer and closing.
During this period the following will take place
• Inspections
• Surveys
• Appraisal
• Loan Denial Deadline
• Contingencies
• Earnest Money can become non refundable
During this time the Buyer may come back to the Seller and ask them to repair/
replace items, adjust time frames, or lower price. Each request from the buyer begins
a new negotiation process, which your agent will help you to understand.
7. Finalizing the Deal
A. Prior to Closing the buyer will do a Final Walk thru inspection.
B. Closing Fees to Seller should be provided 24 hours prior to closing
• Title Insurance
• Tax Pro-Rations
• Utility Pro-Rations
• Recording fees
• Title and Wiring fees
• Agent commissions
C. Settlement
• Recording (24-48 hours) generally
D. Helping the Buyer
• Manuals/ Utilities/ Neighbors contact/ To do List