Your Guide to Selling Your Home
Whether you’re looking to grow your family, downsize your life, move to the city, or head to the suburbs, selling your home is a big deal. It can be a time for excitement and change.
However, selling your home can also be overwhelming. While you know there’s a light at the end of the tunnel, it can get a bit foggy while you’re in the thick of it. There is so much to think about in this process. Managing the logistics of getting your house on the market and sold quickly is no small task.
Roost Real Estate understands all of this and can help put your mind at ease. We are the premier real estate firm, nestled right in the city’s booming North Loop. We have our finger on the pulse of Minneapolis’ real estate market. Our expert crew knows exactly what to do when you are ready to buy or sell.
We have helped more folks purchase new homes, condos, and apartments than there are paddle boats on Lake Calhoun in the summer. Give or take a few. While you might feel anxious about taking the next step of home selling, Roost is here to help.
Our home selling guide outlines the essential steps to a successful sale. You will have the tools to prepare to sell your home confidently. The Roost experts are on your team and will put your mind at ease. What are you waiting for? Let’s sell your house today!
This step is first for a reason. It is the most essential part of the home selling process. You may be tempted to stick a “For Sale by Owner” sign out front with your phone number written in Sharpie. There is a myth that going the FSBO route will save you money. The reality is very different.
People who use a licensed real estate agent to sell their homes make much more money on the sale. On average, professionally-represented homes sell for $60,000-$90,000 more than FSBO homes. That is a lot of money left on the table.
You may feel like you can sell your home in the best way possible since you’ve lived there and know it better than anyone. But the truth is that an expert realtor will sell your home more quickly and for a higher asking price. And it saves you all the work.
An agent has the right tools to make selling your home a painless process. They also can look at your home with fresh eyes and a new perspective. They see what a prospective buyer will see. And that can make all the difference. After all, you aren’t selling the home to yourself.
What might not seem like a problem to you could cause a major red flag for a realtor. They spot issues that could keep your home on the market for months so you can resolve them right away.
Experience: This is the most significant factor in choosing the right agent for you. Finding someone with vast experience means they can handle your specific scenario. When interviewing agents, consider asking the following questions:
The first meeting with a potential agent should be chock-full of questions. And they should have excellent answers to all of them. Make sure their lines of communication are open, so when more questions arise, you can ask without having to wait for crucial answers.
Personality: If you want your home selling process to go smoothly, you have to like your agent. This doesn’t mean that you agree on everything, but you must be able to work together, and you have to trust them. You also want to know that prospective buyers will respond well to your realtor.
If seeing your real estate agent raises your blood pressure, or you feel like they are not listening to you, then the process will not work well. Finding a personable, down-to-earth agent is vital to having a successful sale and a great long-term business relationship.
Marketing Prowess: How will your realtor market your home? Ask what their favorite marketing tactics are so that you know what the plan is. Find out if they offer:
A prospective agent must have a robust marketing plan. Without one, you risk having your home sit with a “For Sale” sign in the yard for too long.
Before you can plan any home sale, you need one important number: the value of your home. Finding the right price for your home is a tricky art to master. This is where your agent's expertise comes into play. Many factors contribute to your home’s value.
Location: Where is your house? Is it in a high-demand area? Is it close to parks, schools, or a bustling downtown area? Sometimes the value of a neighborhood will fluctuate as businesses come and go. Your agent will take all of this into account. They evaluate things like local schools, hospitals, public services, and more as they arrive at an asking price for your home.
Supply and demand: Maybe the home you’re looking to sell is a coveted two-bedroom in a neighborhood full of large six-bedroom homes. Or perhaps you have the only first-story condo available in your building.
Assessing the inventory and sale prices of homes like yours helps your realtor predict what buyers will be willing to pay. Your real estate agent should have a thorough market analysis to guide them in setting a sale price that the market can support.
Age and Condition: Homes naturally need care and maintenance over the years. Often, people put off making repairs or improvements while they are living in the home. But once it is time to sell, the age and condition of the property weigh heavily in the sale price decision.
Trends: Housing markets go through trends as any industry does. The perception of what makes an ideal design, size, or location can change over the years. What was the hottest style of home when you purchased might be old news when you sell.
Your Roost real estate agent will know and understand the market trends to get you the top dollar possible. They will suggest changes that you can make to bring your home in line with current trends. Having an experienced realtor on your side will make all the difference.
When you work with the experts at Roost Real Estate, we create a comparative market analysis (CMA) tailored to you and your home. This CMA provides an analysis of comparable homes that have sold in your area. It examines properties of similar size, condition, age, and style to set a fair market value for your home.
Roost agents also factor in your specific needs and the trends of the market in your area. They will know if the comparable homes are selling quickly or are sitting stagnant? Underpricing and overpricing are common mistakes for DIY sellers. Each situation could hurt your pocketbook in the end. Let an experienced Roost agent help you set the perfect price for your home.
Now for the part you’ve been waiting for: selling your house! You’ve found the realtor of your dreams. Your home’s fair market value is clear. Now it’s time to find a new family to love it as much as you did.
Completing a successful sale requires more than just having an open house and hoping offers roll in. In preparation, there are some things you may need to consider when selling your home:
Minor Repairs: We suggest minor repairs or cosmetic updates over substantial renovations. Major remodels solely to sell rarely give you a good return on your investment. Buyers may appreciate updated appliances or a fresh, neutral paint job. But a full renovation usually is not the way to go.
You’ll reap the most return for improvements such as window replacement or roof repairs. Those are urgent hassles people don’t want to deal with when buying a home.
If you do choose to undergo a significant renovation before selling your house, make sure the updates align with the home’s value. Your agent can help you understand what will be worth the investment.
Staging: Staging is the process of placing furniture and accessories in your home to attract buyers. It allows potential buyers to envision the home as their own. A stager uses an uncluttered modern aesthetic to create a scene that is calm and pleasing to the eye.
Proper staging make rooms appear bigger and better composed. It is worth the time and investment to use a professional stager. Homes with this piece in place sell 73% faster than homes without it.
Professional Photos: Your listing must have professional real estate photos. Eighty-four percent of homebuyers won’t consider buying a property if the listing doesn’t have images. Think about that.
Skipping this one step cuts your selling potential down to a fraction of what it could be. Additionally, listings that have professional quality photos get more page views than those with lower-quality or no images. They also command prices almost 50% higher per square foot than those without such quality.
Do not try to do this step yourself. Trust your agent to recommend an excellent photographer who specializes in real estate photos. In this case, a picture could be worth thousands of dollars in sale price.
Timing: Knowing when to put your home on the market plays a huge role in how long it remains there and how much you will get for it. Spring and summer bring higher sale prices and a busier market, but they also bring pickier buyers.
Fall and winter give your home less curb appeal and a potentially lower selling price. But they also bring more motivated buyers. An experienced real estate agent knows the ins and outs of when to sell. They can advise you on the best timing for your specific needs.
Roost Real Estate is a close-knit group of people. We love our clients and are eager to help. We work to get you the best home possible while also selling your old house quickly and at a great price.
Our top-notch team has the expertise you need and the personality you want. When it comes to selling one of the most valuable things in your life, don’t leave it to chance. Partner with people who have an excellent track record for buying, selling, and renting homes.
Reach out today for expert, friendly help as you sell your home or condo. We look forward to partnering with you.