In Utah, it’s a great time to be selling a home. The hot real estate market means you’ll likely be able to sell your home at a high price in a short amount of time. However, there’s still a lot of money on the line, and selling a home with no previous experience can be daunting. Read these tips for helpful information to know before you start the home sale process.
Analyze your financial situation.
Make sure you understand where you are financially before you make any big decisions. The sale price of your home needs to be able to cover all the fees that come with selling a home and hopefully leave you with some profit.
To get an idea of how feasible selling your home is, subtract your remaining mortgage from your home value estimate (this difference is also known as your home equity). From that number, further subtract between 6–10% of your home’s sale price for closing costs, which include taxes, fees, and agent commissions.
Slow down and give yourself time.
A recent study from home-listing company Zillow reported that the number one regret of first-time and repeat home sellers is operating on too tight of a timeline in the weeks leading up to listing their home. Nearly one in three individuals wished they had given themselves more time to prepare their home to be sold.
Take the time to thoroughly prepare your home before putting it on the market. This might mean applying a new coat of paint, neutralizing any unappealing odors, decluttering closets and other spaces, or other tasks. Staging the home may even involve removing a significant amount of furniture.
Increase your home’s curb appeal.
We’ve all heard how important curb appeal is when selling a home, but it’s true. Ensuring your yard and home exterior are looking their best can give your home the wow factor it needs to get potential buyers interested and inside—and eventually, get you an offer.
Increasing curb appeal can be expensive, but it doesn’t have to be. Start with your landscaping: ensure that your lawn is well-maintained and add some fresh flowers or shrubs to add some additional greenery. Applying a fresh coat of paint to your front door costs less than $50 and can give your porch the bright pop of color it needs to stand out. Installing a new door handle, light fixture, or mailbox can also improve the overall design aesthetic of your home.
Make home showings a priority.
Selling your home can be stressful when you have to balance living real life with keeping your home picture-perfect for potential buyers. However, if your real estate agent calls you with a last-minute request for a showing, you should go for it. Even if your home isn’t ready for visitors, this may still be the showing that leads to an eventual offer. If the thought of having a large number of strangers in your home stresses you out, you may want to consider going out of town or arranging to stay somewhere else during opening weekend.
In addition, if your agent feels that your home is in a good market and location for an open house, say yes. The event can be a great way to bring in potential buyers and speed up the home selling process.
Respond to offers quickly.
When selling your home, try to respond to purchase offers promptly. Many purchase offers have expiration dates, so it’s important to not let those dates pass before taking action. Beyond that, it shows courtesy to the parties making you an offer to keep communications moving, and it will also speed up the process for you.
Hire a top-notch real estate agent.
With more than 2 million realtors currently practicing in the United States, it’s important to find one with extensive experience, relevant knowledge, and proven success. In addition to working through the logistics of selling a home, an effective real estate agent will be able to use their industry, market, and local expertise to give you valuable advice at every step of the way. It’s a wise financial choice, too, since homes represented by a realtor sell for higher prices on average than homes listed as “for sale by owner.”
Work with Davis Coleman to Sell Your Home
Davis Coleman Realty has been serving Utah’s Heber Valley for the past 40 years. We’re dedicated to providing premier quality service to the families and individuals we serve. Our unparalleled experience, local knowledge, and commitment to integrity will help you experience great results in your home buying or selling process. Contact us today to learn more.