If you are considering selling your home in the Oklahoma City area, there are some essential details you need to remember and keep in mind before starting a listing. Knowing what to do before listing your home or confirming a sale can be challenging. Luckily, the Homes by Breann Team is here to help.
We have 17 tips for anyone considering selling their home in the Oklahoma City area that you should remember. Read on for our tips and tricks!
1. Consult a Real-Estate Agent
If this is your first time selling a home, contacting a real estate agent is essential. Those who have the assistance of a real estate agent have a higher chance of selling their home at a higher price. A real estate agent can also help you navigate through the world of real estate and ease some of the stress that may come from selling a home.
It is crucial to go through all options and find the agent that has your best interests at heart before signing a contract with an agent.
2. Determine Where and How You are Listing
If you are going to make a listing online, choosing the right sites is essential. You may use a real estate agent’s website or an independent listing service.
You may consider big-name websites like Zillow, Redfin, or Realtor.com. These sites have a lot of traffic and can help your listing get a lot of views. However, it is essential to make sure your listing is correct, as these sites can have some inaccuracies.
Rather than listing on a big-name website, you can get the help of a listing agent. A listing agent will ensure your listing is accurate and getting attention. However, a listing agent can also be more costly.
3. Come Up with an Ideal Selling Timeline
When selling a home, it’s important to have an ideal selling timeline. This timeline is created by considering when you would ideally like specific steps to be complete and when certain steps can be realistically completed. Consider all the selling factors, including making and posting the listing, when showings will be done, and finalizing any loan paperwork.
4. Understand That Your House May Not Sell Immediately
More people are looking for flexible options like leasing or renting their properties. Because of this, it may take a bit longer to sell a home. A new study showed that Oklahoma has one of the nation’s highest rates of new loans going to landlords. This means there is less availability for Oklahomans to own their own homes.
Additionally, in 2020, 8.5% of all mortgage loans nationwide went to landlords. In Oklahoma City, it’s more than double that, with 20%. Posting a listing can help more people see your home; the right buyer can come along at any point. It’s essential to remember that selling a home can take a bit longer these days than you may expect.
5. Look at the Current State of the Housing Market
The housing market is one of the most fluctuating markets in the world and is directly impacted by the financial sphere. If the economy is declining, it directly impacts the housing market.
It is important to consider the housing market when determining the asking price. You may deter the perfect buyer if your asking price is higher than others currently selling. It’s essential to be flexible with your pricing and be open to negotiating prices.
6. Make Improvements Before You List
If any improvements need to be made inside or outside your home, it is important to do them before you list them. This way, any cosmetic improvements can be shown in the pictures, and you can reflect the proper value of your home before listing.
This includes any major or minor repairs that could impact ones buying decision, such as heating, cooling, plumbing, furniture/appliance repair, and more.
7. Remember the Value of Curb Appeal
On the opposite end, make sure the exterior of your home is just as clean and presentable as the interior of your home.
Some buyers may not even come through the door of a house with a faded paint job, dirty windows, or overgrown weeds. Even if they make an offer, it may be lower if they assume the inside of your home has been maintained as poorly as the outside.
8. Get Professional Photos Taken for Your Listing
Taking photos on your smartphone won’t be enough to show your home’s beauty. Reach out to a professional photographer or have a real estate agent contact someone expert in listing photography.
9. Are you in a Seller’s Market or a Buyer’s Market?
Seller’s market
In a seller’s market, there are more buyers than homes for sale, which could result in more profit when your home sells. Seller’s markets typically last 15 to 16 years, according to research by the late Homer Hoyt, a prominent housing economist.
Typically, plenty of offers will be made and able to be considered, and you won’t have to provide a lot of concessions to find a ready, willing, and able buyer. The current seller’s market may taper off in 2022, and a stronger job market will help aspiring homebuyers afford continued price increases.
Buyer’s market
Buyer’s markets usually last about 2-3 years when the number of homes for sale exceeds the pool of buyers. In this type of market, buyers can demand more repairs and upgrades and ask the seller to pay closing costs if they’re taking out a mortgage. Sellers need to do more to attract buyers and may have to settle for a lower price or wait longer to find a qualified buyer.
10. Do a Pre-Listing Inspection
Make sure your home is up to code before selling it. This will save you a lot of headaches during the listing and purchasing process so that you can address those concerns quickly and not devalue your home before it is even listed.
This includes a smell test, checking on systems such as smoke and carbon monoxide detectors, and more.
11. Come Up with Your Showing Plan
You have several options when coming up with a showing plan. You can do open house shows, Do showings with a real estate agent, or hire a showing service to show off the property for you. Whichever you choose will let potential buyers visit the home, though it is essential to consider how much you want to be involved and how much you would like to spend.
12. Make a Showcase of the Inside of Your Home
Make your home look presentable and visually appealing to a broad audience by staging it. This will show how versatile the space is and encourage buyers to consider how they would use and decorate it.
13. Remove Any Personal Items from the Showcase
Make sure any personal belongings, including decor, furniture, clothing, family photos, etc., are out of the home. This way, when potential buyers see the home, they can easily picture themselves living it, making the home appealing to a broad audience.
14. Set a Fair Asking Price
It is important to set an asking price that won’t deter potential buyers. This is where it is a good idea to consult a real estate agent so that you can estimate a good initial price to set. They have a better understanding of the market and make an accurate representation of what a fair asking price for your home would be.
15. Be Prepared to Move as Soon as the Property is Sold
Once the final paperwork is pushed through, you need to be ready to vacate the property and move on to your new home! Make sure your belongings are packed, and the rest of your furniture or decor used for staging will be easy to move out of the home.
16. Review Any and All Offers Carefully
As offers come in, it can be super exciting and tempting to take one of the first to start the selling process. However, it is important to ensure you understand each offer’s full scope. Going with the first or highest bid without considering the entire offer may add complications as you close the deal.
Consult your real estate agent to ensure you get the best offers and make the best decision.
17. Sell with Your Head, Not Your Heart
You may have a special attachment to the property you aim to sell; however, it is essential to remember that it is a business and a financial transaction, not just a personal decision. While moving from a home can be a long and emotional process, remember to think about what you are looking for in a buyer and the best strategy to help you live comfortably in your new home.
Conclusion
For anyone considering selling their home in Oklahoma City, the Homes by Breanne Team is here to help you make the best and most informed decisions for your home buying and selling needs.
With 15 years of experience, Breann and the team provide expertise and understanding during the process and work with you and your needs to ensure the process is simple and smooth.
To learn more about Breann, the team, and the services provided, contact us here.
