Let’s Get Real: 10 Vital Things to Consider When Selling Your Home

Selling your home is a big deal and scary to say the least. There can be many challenges and difficulties that come with selling your house. Even when you are excited about your new place, moving is a long and tiring process. So, let’s get real and look at some facts you must know about home selling.

1.  Educate Yourself

Well you have already started with the first step by reading this blog, so congratulations! It is important to do some research before you dive into selling your home. You want to know where to start and what the process will involve so that you can at least prepare yourself and not get caught off-guard or feel over-whelmed.

Once you hire a local real estate agent, they should be able to guide you through the whole process, but you don’t want to walk in blind. We are talking about your house, where you have most likely poured your life’s savings into, so knowing what to expect, which questions to ask and understanding when someone is trying to pull the wool over your eyes is definitely in your best interest. The right Realtor will protect your best interests and guide you through the entire process.

2.  Establish Your Time Frame

The reason for selling your home will determine how fast you need to move. Are you moving for a job, because you just want to upgrade or is there another more urgent reason for the change? Selling your house in a matter of urgency changes the game because you do not have the time to make any improvements or repairs. So, work out how much time you have and then prioritize your tasks. Remember, your home is worth what a buyer is willing to pay. If you want top dollar, you need the condition and location to match that price tag.

Your Realtor also needs to understand your time frame and you need to make it clear to them how important it is that you sell your house before a certain date. Make list of everything that needs to get done so that you can plan properly. Of course, if you are in no rush, you can take it slow. The more time you have the better because you want to sell your house to the right people at the right price at the right time. Bottom line: have a game plan and be prepared.

3.  Get the Right Realtor

The role of the real estate agent is to guide you on important things like suggesting minor improvements, determining current market value, negotiations with buyers and marketing the sale of your home. Obviously, the list goes on and on so simply ask yourself, who do you want on your team? You want someone on your side that has comprehensive knowledge of real estate in your area, is experienced in the field and has a good reputation. Shady Realtors are unfortunately a thing and can cost you a lot of money. Read reviews and do not hesitate to pick up the phone and contact a few to see if they are someone you want to represent you.

You are going to work very closely with your Realtor. They are going to be in your house a lot and will even need a set of keys for showings. It needs to be someone that you get along with and that you can trust. This person will be in your life, advising you on one of the biggest decisions ever, so make sure you get the right person. One last thing, always be honest with your Realtor. That is the only way they can fully protect and help you.

4.  Have a Home Inspection Up Front

A home inspection prior to listing your home can alert you to any potential issues that may be revealed when your buyer has his inspector out. And yes, the buyer is most likely going to want his inspector to check things out. This will give you the opportunity to make repairs or price adjustments to compensate for any deficiencies in your home. If you elect to make repairs or upgrades, or better yet have no issues to correct, you position yourself to ask for the higher price that you desire.

Billy Sutton and Lacey Sutton are Real Estate Agents in Kent County, MD

If you are willing, you could share the home inspection report with potential buyers which will make them more comfortable in submitting a strong offer to purchase. Having the potential issues resolved early on prevents the stress of needing to make urgent repairs while under contract. The take home message is a prelisting home inspection will pay for itself many times over and can make the sales process much smoother. 

5.  Know Your Home’s Worth

You want to know what your house is worth. If your selling price is too high, you will only face disappointment when you have very few showings and don’t get any offers. On the other hand, be careful of undervaluing your house, you deserve to get your money’s worth from your investment. Your Realtor will advise you on this by conducting a comparative market analysis (CMA) which will provide you with a range of value, but it is a good idea to do your homework. A CMA is not an appraisal and you are certainly entitled to having a formal appraisal completed to have the value determined by a third party. Things that will affect your selling price include the neighborhood you live in and what those properties have sold for, the age and size of your house and your property, the condition or state of your home, desired features like pools, water features, garden, etc.

It also helps to understand the history of your home. Homes hold so many stories, your house has become part of your story and will soon become part of someone else’s story. People are always interested in the back story, think about starting a new relationship or a new job. You want to know where the people came from and what their story is. It is the same with homes—the story adds value.

6.  Check Your Budget

Once you know what your house is worth and what your time frame for selling it is, you can look at your budget to sell. A budget to sell your house?? You’re thinking this is crazy, but then there might be repairs or improvement, an open house, or staging. You also need to think of the closing costs and commission. This is of course above and beyond the move and the new place.

The costs of the transaction itself can be substantial, but we are talking about making a drastic change in your life. You don’t want to take short cuts that might jeopardize your sale and derail your plans completely. So, to avoid over-spending or getting yourself into trouble, budget!

7.  Push up the Value of Your Home

A little effort could go a long way when selling your house. If you really want to get the best deal for your house before you sell it, try to make some simple home improvements in and around your property. There are a lot of ways in which you can renovate and improve the look of your house without having to spend a lot of money. Investing in your house before selling it doesn’t mean that you need tear down walls and build new ones. Your home needs to look well-looked after and inviting. Basic things like plumbing, electricity and other amenities should also be in working order and according to legal standards. Any potential safety issues or concerns should be corrected.

Filling up any holes in the walls and a fresh coat of paint on the inside already gives your house a stunning facelift. Neaten your garden, mow the lawn, and plant some colorful flowers outside for a great first impression. If you can give the exterior a paint and clean out the gutters your house is looking better and better. Make sure it’s clean inside and out so that you don’t get caught off-guard when someone wants to come for an impromptu viewing. And don’t be shy to point out the great features and fabulous natural lighting.

8.  Market Your Home

Selling your house is like selling services or other products. People need to know that you are selling, why you are selling and what makes your home so desired that they would want to spend money on it. There are hundreds of websites where you can list your home—your Realtor will help you with this, you can put up that ‘For Sale’ sign on your front lawn, advertise your home at the local community hall or shops, and hold open house events for potential buyers to view your place. Have you ever looked at homes for sale online? You know you have and so have other buyers, that is where they start their search. A strong digital marketing plan is more crucial now than ever do to Covid-19. 

Open houses are a great way of inviting potential buyers and showing off your house. Make sure there are some snacks for them, freshly baked goods are great because it creates that homely smell of delicious comfort. You are basically leveraging the buyer’s senses to fall in love with your house. Think of the senses—they have to like what they see, hear, smell and touch (let’s hope they don’t taste your house!)

9.  Change Perceptions

You are selling your home to someone else, meaning that it is going to become the home of someone else. Helping buyers feel like it is their home they are stepping in to when viewing is the first step to convincing them to buy. So, declutter all the rooms and remove personal items like photographs, awards, cosmetics, toiletries, etc. You want the buyer to imagine themselves living in the house, and your visible experience and life in the house will distract them from that vision.

This is appealing to their sense of sight as well as the place the house has in their story. If they can see themselves sitting on your porch or cooking in your kitchen, you have almost won. Your buyers want to feel comfortable and not like intruders. Moving into your house must be a positive experience for them. Oftentimes, the little details are what seals the deal!

10.  Where to From Here?

It is pretty important that you have somewhere to go to before you actually sell your house. You also need to think about moving your furniture, selling anything you don’t want to move and making sure the new owners have everything they need before you drive off to your new and exciting life.

So, through all the selling of your home drama, you also need to find the new place you are going to move to, organize a moving van and some friends to help you pack up. There are also great moving companies that does all the packing for you. Finally, before driving off, make sure that your buyers have all the keys, a list of local services and your forwarding address for any mail that might find its way to their new home.

Final Thoughts

Selling your house is a big deal. You are essentially uprooting your life and leaving memories behind, so it is ok to feel over-whelmed and uncertain. By educating yourself and understanding the process, having the right people working with you and sticking to your time frame and budget, things should be manageable and less stressful. Don’t be afraid to lean on your Realtor for support and guidance, that is why they are there. A professional and experienced Realtor knows exactly what you are going through and what you are feeling, so they should be compassionate and available to help you through the process. You should be able to ask them any question you have and speak your fears to them, and they will be there to put you at ease.

So, the best advice is to do some research, get the right person in your corner and go for it. Even though it’s scary, selling your house might just be the catalyst for your next great adventure. Contact Billy Sutton, Realtor at Coldwell Banker Chesapeake Real Estate or Lacey Sutton, Realtor at Coldwell Banker Chesapeake Real Estate to get started!

Billy and Lacey Sutton are Real Estate Agents serving Kent and Queen Anne's Counties on the Eastern Shore of Maryland