In 2019, more people than ever are looking to buy, sell, rent, or invest in real estate. According to Zillow’s annual housing market evaluations, San Angelo home values have gone up 5.3% in the last year alone. With an increase in home values and homes selling 99% of the time at their asking price, now is a good time to think about how to sell your home in San Angelo during this impressive seller’s market.
However, you need to become a home selling legend before you can dominate the San Angelo market. Over the next few weeks, we’ll be posting articles, contests, e-books, and more than a part of our “Be Legendary” campaign. Keep checking back and staying informed with our latest content to help you master your home selling experience. This week, let’s focus on making you a legend at preparing to list your home.
Before pricing your home, staging and decluttering, or anything else – you need to know if now is the right time to sell your home. Read below as we go through the various steps of being a home-selling legend.
Research & Preparation
When preparing to sell your home you should first be aware of where you’re starting. Ask yourself important questions about where you started, where you are currently, and where you would like to be. A few questions to ask yourself include:
- How much did I buy my home for?
- What are the houses around my house selling for right now?
- Have property values increased around my property?
After establishing a brief outlook of where you currently stand, it’s time to decide how you’re going to sell your house. To be the most effective in San Angelo’s seller’s market, you’ll need to work with a Realtor or do a lot of research to make sure the technical details are nailed down.
The Technical Stuff (Working With A Realtor)
When you’re looking to get the best offer for your home and to get it sold quick, working with a Realtor is your best bet. Sometimes homeowners sell their homes themselves, which is called a, “For Sale By Owner” (FSBO). Although this can save you money on your agent’s commission, there’s a lot more work to sell your home than putting a for sale sign in your yard and waiting by the phone.
With a licensed Realtor, you will automatically have access to several resources and tools that they have at their disposal. Some agents have larger brokerages or different ways of selling, but overall – you want an agent that can market your listing, promote showings with their network, and be able to negotiate a fair price to sell your home for. A few questions you can ask that will give you a clear idea of your Realtor’s expertise include:
- How long have you been a Realtor?
- Is your license in good standing?
- What is your average list-to-sales-price ratio?
- How do you market new listings?
- Do you tend to represent more buyers or sellers?
- Can you provide references?
- Can you ensure I will be able to review all documents before signing?
- What is your fee?
- What separates you from the competition?
After selecting your Realtor, you should ask for a Comparative Market Analysis (CMA) and a marketing plan for how they’re going to market your listing. If you need an expert to help you sell your home – NextHome Legends Realty is a modern, client-first real estate brokerage that focuses on helping our clients get the legendary service they deserve. Each of our agents is specialized to help clients of every experience level, whether you’re selling your first home or your third. You can even win an APPLE WATCH SERIES 3 by signing up for your CMA with NextHome Legends (just click here).
Getting The Right Price & Making A Plan
Once your Realtor has compiled the key information about your home, they will set a time to meet with you. At this meeting, you will need to discuss the market analysis your Realtor has created based on the market and homes similar to yours. Although this helps you determine a general starting point for pricing your home – it’s not the entire formula.
Realtor’s are trained to help clients find the listing price that best fits their current home’s state. If you’d like more accurate pricing of your home, you or your Realtor can also hire an appraiser. Hiring a home appraiser can be an extra expense, but if you have a unique home (like a log-cabin or built-by-hand) then you should get an appraisal.
Before finally settling on your list price, you need to also take an honest look at your home in its current state. Make sure all essential repairs are finished to ensure your home is up to code and meets all certifications/clearances. If you need big repairs (like roof replacement or new plumbing), it’s important to make a plan to either address them or reduce your listing price. Last, consider the location and community of your home. If you live near a school or a lively neighborhood, homes like these sell for more than those in other neighborhoods.
Finding the perfect listing price helps you get realistic offers in a short amount of time. It also helps you determine how much home you can afford to purchase after selling your current one. If you’d like to get an idea of what you may receive, figure out how much you still owe on your home mortgage. Subtract your balance from the final sale price of your home, and you’ll arrive at an approximate value to what you’ll receive (this doesn’t include any commissions, closing costs, etc). To boost your gains in equity many homeowners make improvements, sell during peak a seller’s market (like the one we’re in now), and by paying down your mortgage more.
Once you and your Realtor have a general idea of what to sell your home for, you’ll be well on your way to becoming a home selling Legend (while getting your home sold faster and at or above listing price). Check back next week to learn about what happens before your home actually hits the market and awesome DIY tips to make prepping your home easy and affordable (while increasing your home value)!