Selling Your Home

 

Home Selling Overview


The process of selling your home involves many steps. Once you know your priorities and timeframe, the steps are:

  • Prepare your home for selling
  • Determine how you will sell (with or without an agent)
  • Set the price
  • Market your home
  • Manage and negotiate offers
  • Get inspections and repairs
  • Close
  • Move!

Understanding the process will help you assess whether you can sell your house on your own, or whether you need the help of realtors. Selling a home requires work, time, money, patience, and maybe a little bit of good luck. Manage your own expectations, and realize that it won’t happen over night.
 
Before we explore each of these steps in the next sections, here's a quick list of the most recent home selling statistics from the National Association of Realtors. Keep them in mind as we go through the steps to selling your home.

Selling Your Home Statistics (2005)

Source: 2005 National Association of Realtors Profile of Homebuyers and Sellers
Statistic Key Point To Remember...
In 2005, 77% of buyers used the internet when searching for their new home Make sure your home is accurately and favorably represented in the digital images and descriptive information on the Internet.
Yard signs are the second most common source of information cited as a way that buyers find out about a home’s availability. Make sure these are not obscured by bushes or trees, and that your brochure box is nearby and stocked. Potential buyers also look for a sign when seeking to find your property.
National Association of Realtors (NAR) reports a downtrend in For Sale By Owner (FSBO) sales with only 13 percent of sellers conducting their own sales transactions without the help of an agent. This statistic could be skewed by a number of factors. For example, some FSBO sales are never put on the open market. They are private transactions that take place between people who know each other or family members. NAR estimates this accounts for 2 out of 5 FSBO sales. Evaluate whether FSBO is right for you based on your circumstances.
Realtor.com was the most popular Internet resource, used by 54% of buyers. Multiple Listing Service (MLS) websites came in next with 50%, followed by real estate company sites (38%), real estate agent websites (31%), local newspaper sites (31%), and various other smaller categories. To look at these and other sample sites, visit: www.mls.com
www.realtor.com
www.century21.com
www.coldwellbanker.com
www.harrynorman.com
Demographics of the home buyers market in 2005:
Married couples – 61%
Single women – 21%
Single men – 9%
Unmarried couples – 7%
Remember this as you get ready to market your home.


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