Some people may ask, why sell your home with all the benefits it brings? There are many reasons to sell a property: downsizing, upgrading to a more advanced house, in a better neighbourhood, or moving on to a new chapter.
As you embark on the property selling process, know the journey can be an exciting and nerve-wracking experience. The real estate sale process can seem complex and overwhelming. Whether it’s your first time or you have been in the market, real estate markets are constantly transforming, making each time a new experience.
But to smoothen the process and avoid mistakes, have careful planning and a step-by-step approach. This can help you confidently navigate this journey and achieve a seamless real estate sale. Herein, we’ll walk you through the essential steps to ensure a successful and stress-free transaction.
Whether you have been living here or not, preparing your property before listing for sale is crucial. Preparations include decluttering, cleaning, and making any necessary repairs or improvements like:
- A fresh coat of paint
- Fixing leaky faucets
- Addressing any structural issues like cracked walls
- Adding a countertop in the kitchen
- Changing the floor
- Installing modern technologies like smart home
- Take down a wall to create more space
First impressions matter; a well-maintained home will attract more potential buyers and potentially command a higher price. Therefore, hire a home inspector and an organizer to help you out. A professional inspector can assist in inspecting the home to check if repairs are required.
A home organizer can help in appealingly arranging furniture and accessories. This can also help declutter as you’ll know the things that need not be in the house. As you make your home livable inside, do the same to the exterior, like adding plants and flowers on the curb and repainting the front door. To make your property attractive, think of yourself as the buyer.
Pricing the property appropriately
Defining the right asking price for your property is a significant step. Real estate fluctuates based on:
- Economic conditions
- Demographic change
- Interest rates
- Property availability
- Property Upgrades
Ensure you research the local real estate market and understand its trends while comparing similar homes in your area to gauge the appropriate value. Attend several similar property openings and identify the up-hand you have in your property to price it appropriately.
In the case of overpricing, you’ll put down many potential buyers, causing your property to stay longer in the market. Underpricing can sell your property faster, but you will regret it later since you’ll get less of your property’s worth. Pricing your home competitively is pivotal as it’s vital to attracting serious buyers.
Hire a real estate agent
Managing your property sale process can be tricky if you have a tight schedule. Potential buyers will be scheduled for viewing and need more information about the property, which you can’t cater to when dealing with other stuff.
Hire a real estate professional to help with property viewing, answer buyers’ queries, and, most importantly, find a market for your home. Therefore, ensure you hire a knowledgeable and skilled real estate agent. They have extensive knowledge and expertise to navigate the market and strategies to market your property.
Many agents, if not all, have websites listing available properties like own compound houses for sale in Nairobi. They can also negotiate on your behalf, make deals, and handle all the paperwork. Ensure you take the time to interview potential agents, check their area of specialization, track record, and reputation, and select one you feel comfortable working with.
Marketing the property
The real estate market keeps changing, and understanding it and its consumers is crucial. For a successful marketing strategy, you must use catchy and enticing content. As you work on getting your property out of the market fast, your agent can help create a customized marketing plan to showcase your home’s best features.
As such, you must have professional photography, virtual tours, social media platforms, and listing sites, like Hauzisha, to get your property to reach a larger audience. Therefore, consider staging your home to help buyers visualize themselves living there. A well-thought-out marketing strategy is essential for attracting the right buyers and generating interest in your property.
Show the property
Ensure you or your agent is available for the property showing, as potential buyers may want to view your property at various times. During showings, allow the prospective buyers to explore the home freely while your agent highlights its key features. Open houses can also be an excellent opportunity to generate interest and receive multiple offers. Therefore, ensure the property is:
- Clean: Keep your property neat and tidy for showings.
- Features: Present your property’s unique features and benefits to potential buyers.
- A listening ear: Listen to feedback from potential buyers and your real estate agent. If necessary, make adjustments to your marketing or pricing strategy.
Receiving and negotiating offers
When offers come in, your agent can help you evaluate them and negotiate with potential buyers to ensure you settle for the best. Consider factors beyond the sale price, such as the buyer’s financial qualification and the proposed timeline. Your agent’s expertise is crucial during this stage to secure the best deal for you.
Inspection and appraisal
Upon accepting an offer, the buyer may request a home inspection to be conducted and appraisal. There is no need to panic if you have repaired anything that needs fixing. You can show your buyer an inspection report as they wait for their inspection. If anything requires repair, your agent can navigate this process and negotiate any necessary repairs or adjustments to the contract.
It’s time to seal the deal, which involves signing paperwork and transferring ownership. Your real estate agent, attorney, and title company will ensure all legal requirements are met. Be prepared to sign various documents, including the closing statement and the deed.
Property selling is a complex, time-consuming, and stressful process. By using this step-by-step guide, you can streamline the journey and increase your chance of success. Ensure you use the right approach and professional guidance to achieve a seamless transaction.