Selling Your Home
Market Conditions
The real estate market is always changing. Understanding market conditions helps you make informed decisions.
Buyer’s Market
Supply exceeds demand. Prices drop, homes take longer to sell, and sellers have less negotiating power.
Seller’s Market
Demand exceeds supply. Prices rise, homes sell quickly, and sellers have more negotiating power.
Balanced Market
Supply equals demand. Prices are stable and homes sell within a reasonable time.
Setting a Price
Determining the right asking price is the most important decision. A realistic price attracts qualified buyers and leads to faster sales.
Benefits of Pricing Right
- Faster sale
- Higher offers
- Competing offers
- More agent enthusiasm
Value of Your Home
Market value depends on location, size, style, condition, amenities, buyer supply, and financing options.
Overpricing Your Home
Overpricing leads to low activity and eventual price drops. Buyers may avoid the property.
Missing the Right Buyer
Overpriced homes are invisible to buyers searching in lower ranges.
Early Activity
New listings attract immediate attention. Overpricing kills early interest.
Getting Ready for Market
A personalized marketing plan ensures your home is promoted aggressively.
Listing Agreement
A contract committing your agent to market your home.
Documents Required
- Survey or location certificate
- Property tax receipts
- Mortgage verification
- Deed or title search
- Utility and improvement records
Show Your Home
Exterior
- House in good repair
- Clean yard
- Trimmed lawns
- Clear walkways
- Clean porch and foyer
Interior
- Touch up paint
- Repair leaks
- Replace bulbs
- Clean appliances
- Open drapes
- Fresh air
- Vacuum carpets
- Secure valuables
- Pets contained
Elements of the Offer
- Price: May differ from buyer’s offer.
- Deposit: Shows good faith.
- Terms: Includes financing details.
- Conditions: Inspection, financing, sale of buyer’s property.
- Inclusions/Exclusions: Appliances, fixtures.
- Closing Date: Title transfer and funds finalized.