Key Steps Of Selling Your Home—And Why It’s Tough Going Solo
When it comes time to sell your home in Victoria or Cowichan Valley, you may see other houses with a realtor placard and “For Sale” sign on the lawn and think, “I don’t need a realtor—how hard could it be?” But selling your home takes industry experience, knowledge of transactional processes and documentation, and an understanding of current housing market trends.
Instead of taking your chances and placing a “For Sale By Owner” sign in your front window, consider the following key steps of selling your home:
Hire a Realtor
There’s a reason why most homeowners in Victoria and Cowichan Valley use the services of a realtor when selling their homes. A realtor is a licensed expert in local real estate who is governed by the Real Estate Council of British Columbia. They understand the housing market, negotiate with buyers’ realtors, and work directly with sellers to find the best price for their homes. They also help you navigate the complex processes of the real estate transaction and legal contracts.
Determine a Selling Price
A realtor will help you determine the selling price range of your home in relation to its current market value, home assessment, and recent sale prices of other similar homes in your area.
Repairs and Maintenance
Most buyers in Victoria and Cowichan Valley are looking for a home they can move into without major repairs or renovations. Address key issues before you list your home, or they may end up being contingencies of the sale, lower your home’s selling price, or deter potential buyers from making an offer.
Clean and Organize
To prepare your home for public showings and open houses, you should remove any clutter and ensure your home is clean and spacious. The goal is to make it feel like a neutral space that potential buyers could envision as their own home.
Put Your House on the Market
Your realtor will list your home in line with your preferred asking price. Your realtor will write a listing description to present all key features of your home to potential buyers and take photos of the interior and exterior.
Open Houses and Showings
The next step is to bring people in for individual showings and group open houses. The buyers’ realtors will communicate with your realtor to arrange showings, and open houses will be coordinated by your realtor and marketed to potential buyers in your area.
Field Offers
After your house has been shown to potential buyers, you may receive several offers. Your realtor will communicate with the buyer’s realtor to negotiate a final selling price.
Accept Offer
Your realtor will work with you to determine the offer that best aligns with your asking price and guide you through the legal transaction and formal contract of sale.
Conditional Term
This is the period of time between when your contract of sale is signed, and the conditions of your agreement are satisfied. Conditions may include home inspection, insurance, and financing. Once the contract conditions are removed, your contract of sale is legally finalized.
Closing Date
The closing date is when the funds for the sale are transferred and when ownership is transferred to the new owners. The new owners expect the home to be clean and move-in ready.
Attempting to sell your home on your own isn’t easy and should be approached with care. Consider that private sellers often receive less net profit from the sale of their homes than those who sell through realtors. The nuances of negotiation take years of experience, and a trusted real estate advisor is there to negotiate the best price on your behalf. Private sellers also lack the expansive digital marketing network that established realtors and realty groups have. Realtors’ marketing expertise also enables them to describe and photograph properties in a way that is attractive to potential buyers and list them on multiple real estate listing websites and social media platforms. Increased visibility in your real estate listing leads to greater interest, increased showings, and higher potential offers.
Are you considering selling your home?
I understand the challenges that come with selling your home and the excitement of securing an offer. I work with clients to sell their homes in Victoria, Cowichan Valley, and the South Island’s Westshore communities—from the initial listing to contract closure. I also specialize in digital marketing and ensure that your listing reaches a diverse network of potential buyers. To learn more about how my experience and market knowledge can help you sell your home, reach out today.