Courtesy of lukeobryan.com
If you’ve been thinking of selling your home, now is the time, it’s a seller's market right now. In some areas of Colorado house prices have risen as high as 22.1% in the past year alone, and they’re only going up.
Most everyone would agree that it can be overwhelming trying to sell a house in any kind of market. From figuring out what your house is worth to get the home listed, staged, photographed, and more, you may be thinking, “where do I even start?”
Take a deep breath, because we’re here to help with this guide on how to sell your Colorado home.
Hire a knowledgeable agent
Hiring a knowledgeable agent could be the most important decision that you make when deciding to sell. Some people don’t want to bother with hiring a real estate agent, but this could be a costly mistake. A professional agent will ensure that you get the most money possible for your home. They will also handle all the contracts, paperwork, logistics, timeline, offers, and negotiations, which can be a headache if you do not have the experience or resources to do so yourself.
It’s crucial to find an agent whom you can work with easily and who knows the complexities of your specific market. Interview a few prospective agents and ask them about how many homes they’ve sold, how long they’ve been selling real estate, their opinions on the market, and other questions that are important to you when determining who to work with. Not only do you want to hire an agent that can get your home sold, but you also want to hire someone that you get along with us you will be working very closely with them for a few months.
The great news is that if you’re in Colorado and considering listing your house, you already have the work done for you because Luke O’Bryan is one of the top agents when it comes to getting you what you deserve for the sale of your home!
Create a timeline
Keep in mind that selling your home isn’t an instantaneous process, even if it sells quickly. It can take a couple of months to complete all the tasks that selling a home entails. Once you hire an agent, you can work together to determine a timeline based on when you want to be in your replacement home, and how long that will take in the current market conditions then you’ll work backward on a calendar to get you there.
You should be realistic about your timeline and when you want your home to sell.
Schedule an inspection
While this step is optional, in certain situations, it can be very helpful. A knowledgeable agent can help you determine if a pre-listing inspection is right for you. we believe it’s a necessary one. A detailed inspection will identify any potential issues structural, mechanical, or electrical -, giving you time to fix them before you put the house on the market.
If you opt not to have an inspection done, know that the prospective buyers most likely will. If their inspection finds anything that needs fixing, it will either mean completing potential costly repairs, delaying the sale until the fixes are made or possibly accepting a lower offer than you intended.
Make upgrades and fixes
Making upgrades is a great way to increase the value of your home and get a better return when it sells. The more turnkey and updated home is, the more appealing it becomes to prospective buyers. Installing new appliances and updating your decor to reflect current design trends can go a long way.
However, it’s essential to remember that the upgrades you choose to make should add value to your home. To determine where to make upgrades and the best use of your money, consult with a knowledgeable realtor about how to most effectively make repairs and/or upgrades.
Stage your home
While it may be tempting to skip this step to avoid the additional cost, staging your home can be the difference between a quick sale, receiving multiple offers, and helping you net substantially more money at closing. Staging your home allows potential buyers to understand what the home might look like if they owned it. Seeing an empty house — or one that’s cluttered with the current owner’s possessions — can make it hard to picture a space’s potential and cause would-be buyers to walk away.
You can either use your own furniture for staging, or you can clear out your home entirely and allow a professional stager to come in and furnish it. Most stagers recommend clearing out clutter or excess furniture that may turn buyers off. Remember that buyers want to envision what their new home might look like, not what yours currently looks like.
Take professional photos
Half the battle of selling a home is convincing people to come to view the home in the first place. Showcasing fantastic photos on your realtor's website and in the MLS will make your home more appealing to prospective buyers and make them want to see more.
Some realtors can help produce virtual tours that don’t require an in-person showing to showcase all the qualities of a home.
Your agent will probably already have some great recommendations on real estate photographers they’ve worked within the past, but you can always do your research and find your own. Professional photos will cost you some money, sure, but it’s worth it to get the right people interested in your home.
Set your listing price
It’s critical to set a realistic home price. If you set the price too high, it will turn off buyers. If you set it too low, you may not get the full value out of your investment.
There are many factors that go into pricing your house — it’s not just about your actual home, but also the region, the neighborhood, and even your neighbors’ homes.
This is where a qualified real estate agent is a huge asset. He or she will work with you to come up with a list of comps, (homes on the market in or near your area that are comparable to yours), to come up with a fair and competitive price.
If the number your agent recommends is lower than you envisioned, remember that a competitively priced property can result in multiple offers, creating a bidding war and ultimately driving up the price. Though this scenario isn’t guaranteed, it’s always a possibility.
Put your home on the market
Now that you’ve done all the tough work, it’s time to put your house on the market. As you begin showing your home, do your best to remain scarce. If the current homeowner is present during a showing, your buyers will feel uncomfortable expressing their opinion or looking around the home. You can ask your realtor to be present during showings, but potential buyers will have their own realtor with them.
Once the offers begin to come in, work with your real estate agent to decide the best course of action. You can either accept an offer, counteroffer or reject it. You’ll also want to take into account whether a buyer is offering to pay cash or using financing — cash offers tend to be highly desirable and are less likely to fall through.
Once an offer is made and accepted, you and the new homeowner will have to pay closing costs. If you have a real estate agent, you’ll also have to pay their commission. The final step is to gather and complete all the paperwork you need to finish the deal and Luke’s team will help you manage everything to get you to the closing table.
Now you have all the information you need to start the process of getting your house on the market. If you’re selling or are interested in houses for sale in downtown Denver or other surrounding areas, contact Luke O’Bryan. Wherever your next adventure takes you, he’ll help you find your way home.