Considering a move? Selling your home can be scary and overwhelming process, but it doesn’t have to be. With proper preparation and planning – and the help of a licensed real estate professional – you can maximize the equity of your home and earn top dollar. 


Here are a few things that you should know before putting your home on the market:


1.    Pricing matters. 


Be careful not to overprice your home. There are a number of benefits to pricing your home fairly, including shorter marketing periods, smoother negotiations and increased leverage throughout the sale process. Listing your home at fair market value also increases the chances of multiple offers, which in many cases can lead to an executed contract above asking price. 


To gain an understanding of the value of your home, review listings in your neighborhood that are comparable to your home in size, condition, age and style. Active listings will be your direct competition in the current market, while pending listings will tell you what prices have been attractive enough to secure a contract. Recently sold homes will be the most important comparison, as these will directly affect the appraisal of your home. If your home is appraised for less than the contracted price, this could affect the buyer’s ability to secure financing. 


Price is also critical to having your home show up in the most possible online searches. While $352,000 may be your target number, pricing your home at $350,000 will get you in front of buyers with an “up to $350,000” as well as the “$350,000 and up” budget. By pricing just above or below these round numbers, you decrease the number of people who will have your home show up in their search results. 


2.    There will be an inspection – be prepared. 


A buyer who is enthusiastic about buying your home today might be less excited after reviewing a 40- to 60-page inspection report detailing the homes defects. In addition, defects with the roof, plumbing, electrical or air conditioning systems can hinder the buyer’s ability to get homeowners insurance, and thus financing, and may cause a deal to fall through.


It’s in your best interest to have a general or 4-point inspection (roof, plumbing, electrical and HVAC) of your home completed before you go to market. That way, you will know which repairs may be required so as not to hinder the sale of your home. 


3.    Preparing your home for photography and showings will help earn you top dollar.


It’s important that the buyer can envision their life in your home. As much as is possible, you want to create a clean, neutral space where the buyer can focus on the purchase decision. This includes cleaning, tidying up and removing clutter, grooming the landscaping and making minor home repairs that might be an eyesore to buyers as they visit the home. It might also include painting, carpeting or replacing old our outdated appliances. 


Also consider pressure washing, painting the front door, and sprucing up flower beds. A well placed potted plant, new doormat and address numbers may sound trivial but they could increase the value of your home by as much to $10,000 and will cost you a fraction of the price to complete. 


4.    You’re responsible for maintaining the home until the closing date. 


As a seller, you will want to keep your home maintained from the time it goes to market until the closing date. While certainly not ideal, it’s not uncommon for the first buyer to fall through, leaving you to prepare and secure a contract for your home more than once. Rather than scrambling to stage the home again, its recommended that you keep your home in selling shape through the appraisal. 


During the final walkthrough, the buyer will also be inspecting the home to ensure that everything is in the same condition as when they contracted for the purchase. If anything is damaged, broken, or missing, the deal could fall through or leave you negotiating at the last minute. 


5.    It’s in your best interest to work with a licensed real estate professional. 


Selling your home can be stressful, but you don’t have to navigate it alone. Working with a licensed real estate professional will help ensure that you remove all variables that could get in the way of an effective sale. This starts with providing an accurate understanding of where your home fits in the marketplace and providing specific recommendations to maximize the equity of your home. 


At Yellowfin Realty, our team will also market your home with professional photos, thoughtful descriptions and online advertising across more than 100 websites to get your home in front of a large number of buyers. While we cannot predict a sale price, we can ensure that our efforts will help you earn the fair market value for your home with the best possible buyer. 


Considering selling your home? Contact us today to find out how our team can help.