SELLING PROCESS

Selling Process

There are very few times in life when you'll be involved in a transaction as large as selling your home. You've probably invested a lot in your residence, both financially and personally, giving a lot of yourself, over the years, so it's important to make sure the process of selling it goes as smoothly as possible. Whether you're upgrading to a larger home, or downsizing after the kids have grown up, the order of events in its sale will be the same. However, each area has its own rules about specific additional steps that must occur, so it's a good idea to have a real estate agent oversee things from the beginning. Regardless, this guide can help you determine what should be happening when, and identify parts of the process that sometimes create little bumps along the way.

  • Set The Asking Price

    Although it's often part of the negotiations, the price you initially set affects the entire process. If you set it too low, you won't receive the home's full value. If you go too high, buyers won't show interest in your home. Even if the price is adjusted later, the home could carry a stigma for going unsold for a period of time, and fewer people will consider it. In the end his can result in you being forced to sell the home below market. There are several factors that go into determining the best price at which to list your home, and a real estate agent can help make sure you're on the right path. Your real estate agent will perform a comparative market analysis or broker price opinion that will take into consideration:

    • The price of other similar homes in the neighborhood that have recently sold
    • Improvements you have made to the home
    • Unique features (like lot size or a swimming pool)
    • The price per square foot of other homes on the market
    • The type of market you are in based on the current market absorption rate (sellers, buyers, or balanced market)
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  • Determine If You Have To Disclose Anything To Prospective Buyers

    It's better if you can fix major issues with the residence before you sell it. However, there are some issues you may not be able to correct, and others that you must legally disclose regardless. Although this is not an inclusive list, some of the most-common disclosures are detailed below:

    • City development projects coming to the area, like freeways
    • Hazards (like lead paint, asbestos, and structural defects)
    • Pest issues (like ants, mice, etc.)
    • Condition of all amenities in the property
    • Anything that can affect the life and enjoy-ability of the property
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  • Perform Local Inspections And Required Work Order Repairs

    Some local cities and counties may require city inspections, often known as "Truth-in-Sale Housing Inspections" or "Time-of-Sale Inspections". Not all communities require these inspections be performed. In addition to those communities that do require city inspections, there are some that may require some repairs in order to sell your home to potential buyers. Failing a city's requirements can result in an additional cost with re-inspections. As a rule of thumb, it is always best to complete minor repairs to your home prior to putting it up for sale. Not only will repairs make your home look better, they will also prevent possible work orders. What is called into question can vary from city to city, but common items that get called in these city inspections include:

    • Inoperable smoke detectors/carbon monoxide detectors
    • Missing backflow preventers on outside waterlines and laundry tubs
    • Improper plumbing fixtures (toilets, sinks without s-traps, etc.)
    • Improper venting for dryers, water heaters, and furnaces
    • Missing hand railings
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  • Market And Show Your Home To Prospective Buyers

    Your real estate agent has a wealth of market knowledge. He may make suggestions to you so that your home sells for top-dollar. When marketing your home for sale, consider how to best:

    • Make your home presentable and possibly make slight improvements
    • Stage the home so buyers feel welcomed by it
    • List the home and advertise it (which your agent will do)
    • Show the residence to interested parties
    • Host open houses to encourage multiple offers
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  • Examine And Discuss Offers

    If you have an open house, some buyers may work with your agent to submit an offer, though most buyers work with their own agent. In a perfect world, your buyer will agree to pay the full asking price and not make any special requests. In the real world, offers will have some differences worth comparing. Below is a list of things to compare when reviewing offers on your home.

    • Requested price
    • Financing pre-approvals
    • Closing date
    • Occupancy date
    • Tax proration
    • List of items the buyer wants left in the home
    • Things the buyer wants done before signing (like a home inspection, pest inspection, or repair)
    • Contingencies (such as the buyer's approval for financing or the sale of an existing home)
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  • Negotiate Or Accept An Offer

    If an offer is reasonable to you, you may accept it and move on. However, you may wish to negotiate further with the help of your agent. Your REALTOR® will bring all of their experience and skills to the negotiating table to ensure that you sell your home for the highest value possible.

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  • Remove Contingencies

    Once the offer is accepted, the buyers will begin working to remove any contingencies that are held in the offer. These can include, but are not limited to:

    • Financing
    • Appraisals
    • Inspections
    • Repairing work orders
    • The sale of another property
    • The cancellation of a previous purchase agreement
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  • Close The Deal

    The closing process involves the title agent and title company. Sometimes real estate lawyers are involved as well, and your agent will help coordinate events and make sure things that need to be done are being done. At closing, you will:

    • Sign the documents and transfer the title
    • Accept the payment (minus the cost of document preparation and other transaction fees)
    • Give the new owner the keys
    • File the documents with the proper governmental offices

    Once the deal has been signed, you should prepare to move. Then, you can begin packing and contacting your service providers to establish a transfer to your new place or cancel them altogether. In any case, your home is sold, and you can move onto the next exciting chapter of your life.

Why Sell With A Realtor®

Previous generations used to purchase a home and stay in it for life. Nowadays, the average person moves more than 11 times over their lifetime, which helps build up a fair amount of knowledge about the home-selling process. With all that experience, it's certainly understandable for a person to wonder if it's still really necessary to hire a real estate agent to oversee the process. Although it's not required, almost 90% of people who sell their homes today hire an agent to help them, from which they benefit in a lot of ways. Below are several reasons to work with a REALTOR®.

Your Real Estate Agent Has First-Hand Knowledge Of The Present Market.

This way, you have assistance in choosing a selling price that will help you move fast, while still getting the most you can for your home. Pricing a home accurately from the start is imperative, as one that's too low may sell quickly, but will short the owner cash. One that's overpriced will likely sit on the market for quite some time, which sends the signal to later buyers that there's something wrong with the home. Sadly, even if you adjust the price later, the stigma may still stick, and potential buyers will continue to overlook the home.

Your Agent Is A Marketing Pro.

The biggest thing that will lead to a sale is getting the word out. An agent knows where buyers are looking, so the home gets listed in the right places. Contacts are also important, and having an ear directly in the industry means that your agent can make sure your home is the one people hear about when it meets a buyer's guidelines. There are many ways to market your home for sale.


  • Multiple listing service
  • Yard sign
  • Flyers
  • Open houses
  • Website marketing/IDX
  • E-mail campaign
  • Social media
  • Print marketing
  • Word of mouth

If Your Home Needs A Little Extra Selling Power, Your Agent Knows How To Get It.

Some people jump in headfirst making renovations in preparation for a sale, though a lot of them are unnecessary and will not warrant you the return that you expect. Your agent can give you tips on what to tweak around the home to help ensure you get the best possible return on your investment.

Your Agent Will Help You Negotiate.

When the offers start rolling in, it's helpful to have someone familiar with current market trends to evaluate each offer. It can really take the pressure off you to have an expert give advice that can help you make the most informed decisions possible and determine which offers you can feel confident about passing up. Moreover, your agent can propose a counteroffer when appropriate, to make the process as stress-free as possible.

After An Agreement Is Reached, Your Real Estate Agent Can Help You Close The Deal.

Whether last-minute negotiations are necessary or there's just a mound of paperwork to process, your agent will make sure things go as close to plan as possible.  They will introduce you to many different entities who can help guarantee a successful sale. 

Last But Not Least, You Gain Representation.

The real estate professional you hire owes you fiduciary responsibilities that protect you allowing you to be able to judge offers with confidence and security. These are their responsibilities:


  • Loyalty: Your REALTOR® must be loyal to you and work in your best interests only, even if that is above their own best interests. You are their #1 highest priority during a real estate transaction
  • Confidentiality: Your REALTOR® must keep anything you tell them private and confidential. In other words, your price, terms, motivation, and personal information will be kept under a tight lip
  • Disclosure: Your real estate professional is a vast wealth of knowledge about the real estate transaction process. They will share anything they've learned from their years of experience to help set you up for success. This allows you to know you are always making the most informed decisions
  • Obedience: Your REALTOR® must obey all of your lawful instructions. You are in the driver seat
  • Reasonable Care: As a client of your REALTOR®, you are the most important person to the transaction. They will always attempt to be available when needed and work to the best of their ability to successfully sell your home
  • Accounting: The real estate transaction is a challenging process. Your REALTOR® is accountable for ensuring that the transaction runs smoothly, all the pieces fall into place as expected, the numbers match the offer, and the financing approval and closing docs are taken care of

Sometimes people forego bringing in a pro, thinking it will save them money. Unfortunately, without knowledge of the present market and regulations, it ends up costing them more in the end. Your agent is your advocate who works exclusively for you, so the process will be as stress-free and lucrative as possible for you. This is why you want to work with a REALTOR®.


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