The decision to sell a house is often compelled by a new job, a growing family, or simply the desire for change. It is a significant decision and a complicated process where the right skills, knowledge, and guidance make a difference. From making a good first impression on potential buyers to closing the deal, selling a house requires meticulous planning and execution. It also involves competition with home sellers, which can be fierce, especially in strong buyers’ markets. Below is a step-by-step guide for homeowners looking to sell their property.
Decide how you are going to sell
Your approach to selling your home depends on your priorities as a home seller (typically to maximize profit or sell the house in a limited timeframe). There are three main ways to sell a home, as discussed below.
Work with a real estate agent
With their in-depth market knowledge, effective marketing techniques, and industry connections, Pasadena real estate agent wield significant power in selling a home. Besides their marketing expertise, they can also advise how to make the home more attractive to home shoppers. When you work with the right real estate agent, their services are more than worth the commission fee (typically 6% of the home purchase price split between the buyer’s agent and listing agent).
Sell the home on your own
Homeowners can also put up their homes for sale independently. Commonly referred to as for-sale-by-owner (FSBO), a solo sale can appeal to those who want complete control over all aspects of the process. An FSBO seller facilitates every part of the sale, saving on agent fees. But without the help of a seller’s agent, the homeowner is more likely to make mistakes and will also have challenges bringing in buyers and handling negotiations.
Sell to an iBuyer
This approach provides a convenient and streamlined option for those seeking a quick sale. iBuyers use automated valuation models to make cash offers on homes. It is as easy as visiting their website and providing the property details to request an offer. They typically purchase homes in as-is condition, thus eliminating the need for repairs or renovations, which allows for a quick sale. While selling to an iBuyer offers convenience, their offers may be lower than market value.
Conduct market research and set an appropriate asking price
Sellers can set a realistic price by analyzing recently sold properties in the neighborhood that are similar in size, condition, and features. Consulting with local real estate professionals, such as agents or appraisers, provides a more accurate assessment of the home's value.
Homeowners should also adjust their asking price for home improvements and unique features that differentiate the home from others. While these can justify a higher price, it is essential to be realistic and price them objectively; overpricing may deter buyers, while underpricing could lead to missed opportunities for maximizing returns on investment.
Prepare and market the home for sale
Making a good first impression is crucial to selling the house. This is where home staging comes into play. Most agents agree that home staging affects how buyers perceive a property, making it a vital part of the selling process. At a basic level, staging includes cleaning, decluttering, and depersonalization. Lighting also plays a role in creating a welcoming atmosphere. Other staging options include replacing worn-out furniture and fixtures with new items and moving the furniture around to highlight attractive features.
Enhancing curb appeal is yet another effective home staging strategy. The aim is to create a visually appealing and well-maintained exterior that entices potential buyers to explore further. Landscaping is crucial to enhancing curb appeal; you can liven up your lawn by making the most of existing natural elements, such as trees and shrubs. The front door is another eye-catching feature on the property and should be properly decorated with colorful planters and fresh paint.
After staging, get a professional realtor to create Pasadena CA real estate listings and market it on the Multiple Listing Service (MLS) to increase the home's visibility among potential buyers. An MLS listing conveniently reaches buyers through real estate brokerage offices. Your agent can also list the house on popular real estate websites and platforms, with detailed information about its features and any additional amenities or upgrades that can help generate interest.
Showcase the home
Listing the home will attract potential buyers who want an in-depth tour to see if the house meets their needs. Virtual tours and open house events will help in this regard.
Virtual tours have increasingly become popular in the Pasadena real estate industry. With these 3D walkthroughs, you can give potential buyers an immersive experience of the home's layout and features.
Open house events
During open house events, the property is made accessible to potential buyers, allowing them to view it, ask questions, and have an interactive experience that provides a personal feel for the space. The following are some of the elements of a successful open house:
Choosing dates and times convenient for potential buyers
Creating inviting spaces
Maximizing natural light
Providing informational materials such as brochures or flyers
Following up with interested parties
Reviewing and negotiating offers
Take the time to thoroughly review each offer received by evaluating the proposed purchase price, contingencies, financing terms, and any additional conditions outlined by the buyer.
Accept an offer and close the deal
After reviewing the offers, select the most favorable to your initial goals and communicate your acceptance through a formal letter or a signed purchase agreement. Lastly, schedule the closing date, and attend the closing meeting with the buyer and their agent to review and sign all necessary documents. Once all terms and conditions have been met, the closing attorney will facilitate the transfer of ownership from you to the buyer, finalizing the sale.
Find a trusted real estate agent to sell your home
Are you looking for help with your Pasadena home for sale? Spencer Sanderson of The Sanderson Group
can help. Having been an active player in the Pasadena CA real estate
market since 2012, Spencer is familiar with the nuances of this market and can leverage his knowledge to ensure that your home sale process runs smoothly. Contact Spencer Sanderson and Heather Sanderson
to discuss your Pasadena home for sale or learn more about his services.
*Header photo courtesy of Shutterstock