How to Sell a House

Ever heard of the three crucial Ps to selling your house? That’s Pricing, Preparation, and Promotion – the three things that lay the foundation for a successful home sale. Let’s get into the details of it today!

While preparing your house for sale is a huge challenge by itself, pricing according to the current market conditions and marketing it well to reach the right buyers isn’t any less important. Have a look at the various aspects that go into the three Ps!

Key Takeaways:

• The decluttering part of the house sale process is huge. Get rid of the things you don’t want in the house.
• Use neutrals – neutral flooring, neutral painting, etc. Make sure your house isn’t just designed to suit your taste but appears welcoming to most people. If necessary, hire a colorist for their opinion on making your house look aesthetically convincing to buyers.
• Look at the market when deciding the sale price and potential time to sell. 
• Don’t overprice or underprice your house. If you’re trying to go with aspirational pricing, keep in mind that you might need to make big price reductions in the future, and all the changes in pricing will be seen on all the sites (Zillow, Redfin, etc)
• Research the sites where you want to market your house. One of the biggest marketing tools is the MLS or Multiple Listing Service. There are also other sites like Zillow, Redfin, and Compass.
• Professional photography and videography are essential parts of promotion.

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Are you considering selling your house by yourself? If you've started your research, you probably know by now that it's more than just putting an ad on Zillow. Selling your house on your own, in real estate terms, is called FSBO (for sale by owner) – meaning everything about the house sale is handled by the owner directly. Sure, there are challenges to it. But it’s better to be informed of what you're getting into so you know what to expect.

In today's episode, we walk you through the steps it takes to get your house ready for the market, set and negotiate the selling price, and get it sold all by yourself!

Key Takeaways:

• The first step is getting a new phone or phone number. Because you're going to get a lot of calls from buyers, and you want to be able to track that and shut it off if necessary.
• You're going to have to make time to answer all buyer calls. 
• On the preparation front, make sure you've taken into account the landscaping, cleaning, remodeling, renovation, and repairs.
• Go through your area's listings to ensure your preparation matches the standards of houses in your area. 
• Think about your marketing plan. Decide on the kind of photography and videography you need, how you plan to make the exteriors look, etc. Think about the marketing channels and methodologies you'll use to position your house as attractive to potential buyers. Almost 90% of people find your house initially online. If your photography is bad, you're not going to get the kind of showings you want. Hire a real estate photographer to get proper photos of your house taken.
• The way you price your house is part of your marketing.
• Take into account the money you have to spend on the sale, including marketing and attorney fees.
• The home staging part is huge – it involves preparing your home for sale to appeal to the most significant number of potential buyers who are also willing to pay the highest price.
• Do your research before pricing your house. Underpricing and overpricing are both big potential no's.
• Decide who and how you're going to make your lockbox available to.
• Get information about the buyers coming through for a showing. Ask for their basic details, like their driver's license when allowing them to come to your house. 
• Ask all necessary questions to their lender about their qualifications and credit. 
• Don't just go for the best price; go for an offer that's the best for you and your house.

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You might say that the most important number when it comes to selling your house is the sales price. But is it really it?

Turns out, maybe not!

The net proceeds, or the money you’ll be left with when you close escrow, is the most important number when it comes to your home sale. And the value is hugely different from the net sale price of the house. We’re discussing how this number is calculated in today’s episode, so stay tuned!

Key Takeaways:

• When calculating your net proceeds, consider any liens, payoffs, mortgages, and any money you owe other people.
• Understand how much of the tax you may owe. Your net might then look different than what you think it is. 
• The sales price of your home has to take into account the commissions – for your agent and the buyer's agent. Those run about 5-6% but are negotiable. 
• Take into account the escrow fees and attorney fees. 
• The biggest number on your net sheet is your loan payoff.

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Do you want to sell your house fast but also for top dollar? 

In this episode, we get into the right way to price, prepare, and promote your home so it sells without it sitting on the market for months. We'll cover everything from cleaning, preparing, and marketing, to staging and negotiating, and get into how a professional could make the process a million times easier for you.

Key Takeaways:

• Price your house correctly. The longer the house sits on the market, the better the chances are that you will not get the price you want. 
• Get your house prepped for the market because once it goes live, the pictures are already taken, and that’s the first impression buyers see when searching online. The more work you put into it upfront, the better potential you'll have to sell it quickly when it hits the market. You might want to hire a professional stager to put in all the furniture and things to make the house look really good. 
• Repair any damaged items in your house or fix anything you know is broken. 
• Having a home inspector pre-inspect your home and having a termite person do a full termite inspection. By doing that, you know what you might need to fix and what repairs might be needed. 
• Fixing all the leaks and damage, like roof leaks.
• Cleaning your house from top to bottom.
• Power washing your house.
• Maximum exposure equals the highest price and the quickest close.

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So you've made up your mind to sell your house but are worried about the dos and don'ts involved in making it sale-ready? Today's episode offers a comprehensive guide to preparing your house for a dream sale!

Use this episode as a checklist to remind yourself of the most important things to take care of before putting it on the market. What should you repair? Is painting necessary? How do you get mentally prepped?

Key Takeaways:

• Clean everything, even the pet hair that might be flying around. And make sure your house smells good. It's super important!
• Have a pet sitter when you're having your showings. Or bring them on a walk!
• Declutter – get rid of everything unwanted and make your house look welcoming.
• If you've got things you wouldn't want to sell along with the house, like fixtures, or a special chandelier, make sure to take them away before you take the photos.
• Think about whether you're downsizing your house. Decide what you'll do with the furniture.
• Make sure to repair every small flaw in your house, including anything that has been bugging you over the years.
• Have damaged or fogged windows? Repair them and/or have them cleaned.
• If you're removing items from the walls, patch up the holes left from those and paint over them to make sure all those walls look nice and clean.
• Make sure to use lighter/neutral paint for your house to make it look bigger.
• Clean up all the rooms and backyards. Hire a professional stager if you'd like to make your house look the best for sale.
• Price your house just right – not over or under the market price. Do your research before you set this number.
• Don't be there during the showings; allow the buyers to come in and explore the property themselves. Let them get the feel of the property.
• Make your house as open to showings as possible.

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Setting the best listing price for your house is one of the most powerful marketing tools you have when selling your house.

There’s a lot that goes into it - the current state of the market, your home size, the neighborhood, the location - they all determine how much you can ask for your house. Needless to say, it's hard to sell your house if you price it too high.

So, what price should you list your home at? There are a few tried and true strategies to explore. In this episode, Loren, Chris, and Cassidy discuss how to set the BEST listing price for your house to ensure you get the most money in your pocket!

Talking points:

● Your house's location is extremely important when deciding its listing price. You're at an advantage if it's near the ocean or other highly desirable spots.

● It's best to sell your house during a fast market because you'll get the best price. On the other hand, in a slower market, there are more choices for buyers so you’ll need to price appropriately.

● Your home's square footage is also important when deciding its price. As well as layout and condition.

● The price of your house is largely dependent on the current market. You need to determine how much the other houses in your neighborhood were sold for before deciding on a listing price.

● Do not overprice your home. It will usually sit longer, not get any offers, and lead to a price adjustment later on.

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Ever heard of Comparative Market Analysis aka a CMA? It’s used to estimate how much your house should be priced after considering how much the houses around your neighborhood have been recently sold for.

In today's episode, you're going to learn about pricing your house based on comparative market analysis and how it's done. Cassidy, Chris, and Loren help you assess the value of your house by walking you through the complete process.

What you'll learn:

● Everything about CMA and how it can be used to determine the highest possible price for your house.

● Where to get the data points of neighborhood house sales from Zillow, redfin, realtor.com

● What determines the price of your house?

The neighborhood

The square footage

How your renovations appear to buyers

The plumbing, electrical, roofing, and flooring of your house

The location: proximity to schools, airports, and major daily travel places

Whether or not your house has a pool (sometimes it’s a negative!)

+ more!

Also, tune in to this episode to learn how to price your home right!

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If you think the process of selling your house is easy and all you need to do is put up a For Sale sign in the yard, this episode is a must-listen. There are many things to do and consider when selling your home.

Join Loren, Cassidy, and Chris in this episode of the How To Sell A House podcast for a deep dive into the selling process. From negotiations to hiring an agent to picking an offer, they got you covered on everything you need to know!

So, what is the process of selling a house? 8 things:

1. One of the most important things: listen to this podcast, seriously. This will help you get an idea of what to expect during the home sale process. Visit howtosellahousepodcast.com for all the details!

2. Hire an agent to help you sell your home (we’re here, in case you’re looking in San Diego!). Your agent will help you with the preparation, connect you with vendors for repairs or renovations, and help you price and promote your home properly. 

3. Take care of the photography, videography, ads (and all of the marketing aspects).

4. Be prepared for showings, open houses, and people intruding on your space.

5. Now comes the offer/negotiation section when you’re interacting with buyers/other agents about your deal. Find out more information about the person you’re looking to sell your house to. Are they qualified, are they motivated, etc?

6. What to expect when you do accept an offer. (Inspections, Appraisal, Buyer’s Loan)

7. Closing time!

8. Don’t forget to set up the moving plan

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When it comes to selling your house, even finding a great real estate agent can be confusing: What if they aren’t skilled enough? What if they don’t communicate well? And most importantly, can you trust them? 

How do you ensure you’re choosing the right professional?

In this episode of the How To Sell A House podcast we explore easy + effective ways to go about finding the perfect real estate agent. Gathering lessons from years of experience, Loren, Chris, and Cassidy will let you know how to find the right real estate agent with 8 ridiculously simple yet actionable tips!

In this episode, you’ll learn:

8 tips for finding your perfect real estate agent:

1. Ask your friends and family for referrals. Dig up how the agent helped them in their home sale. How knowledgeable were they, were they easy to communicate with, and are you going to vibe? 

2. Check for their online reviews on Zillow, Google, and other places. Surely, not all reviews are legit, but they’ll help you get an idea.

3. Look them up on social media and connect with them personally to get to know them better. Understanding the person you’ll be working with for such an important job is essential.

4. Put on your detective hat: go out to open houses, and visit them on their turf. 

5. Look at their online marketing around the houses they sell: How do their pictures look? Do they present the houses well? The little details could be really important in understanding how seriously they take their job.

6. Ask them the right questions before deciding to work with them. This could include - What are they planning to do to sell your home? 

7. Sometimes, what you need isn’t just the best “price” for the house. Maybe you want the best terms. Make sure you can get what you want.

8. Don’t fill out random forms online or on websites looking for a real estate agent. Do your due diligence. This step is really important!

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Selling your home is undoubtedly a big deal. There are many variables involved in the process, like preparation, inspections, and potential repairs. Before you start on that journey, it's super important to take time to consider the "why" behind it. 

Are you trying to take out the equity? Is it about moving to a new area? Or have you just outgrown your current place? Whether your looking to get your kids into a new school or just trying to downsize when you decide to retire, having real motivation is critical in getting the most out of your home sale.

In today's episode of the How To Sell A House podcast, we get into the importance of knowing your why so you can deal with the ups and downs of the home-selling process.

Key Takeaways:

• What you must ask yourself before selling your house - Why are you selling the house? Where are you going?
• It’s essential to do proper planning and research before deciding to sell your house. Maybe renting it out is the better option.
• It's important to know the immediate and long-term steps of selling your house. Selling your home shouldn't be an impulsive decision.
• What’s your why?

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