A Step-by-Step First-Time Seller’s Guide

STEP 1: Understand Why You’re Selling

What do you want to accomplish with the sale of your home? Do you want to make a certain amount of money to put toward a larger or nicer home? Do you need to sell as soon as possible so you can move to a new city or area? Once you understand your needs, you can plan your sale around them. For example, if you need to sell quickly, you might price your home lower than you would if your goal were a specific profit. When you choose an agent, share these goals so they can price your home accordingly.

STEP 2: Determine the Selling Price

Pricing your home correctly is one of the most important parts of the selling process. A fair price from the start attracts the most interest from other real estate agents and prospective buyers. Overpricing can reduce interest, while underpricing means receiving less than your home is worth. Working with a real estate agent is the best way to determine the right selling price. An experienced agent can review what comparable homes are selling for, evaluate the current market, and may suggest a home appraisal.

STEP 3: Start Preparing

If you have kept your home in showroom condition the entire time you have lived in it, you are in the minority of homeowners. Once your home is priced, it’s time to get it ready to show to potential buyers. That means clearing clutter, depersonalizing the space so buyers can picture themselves living there, making any small repairs, and doing a deep clean so your home is in pristine condition.

STEP 4: Develop a Marketing Strategy

An experienced real estate agent designs a marketing approach tailored to your property, to showcase it effectively and attract potential buyers. The plan can include targeted social media campaigns, networking, and search engine optimization to maximize visibility and engagement. Drawing on industry connections and experience, your agent creates compelling descriptions and visuals that resonate with prospective buyers and generate real interest. Consistent follow-through and proactive outreach build momentum around your property and help lead to a successful, timely sale.

STEP 5: Evaluate Offers

Receiving an offer is an exciting part of the process, but it doesn’t mean the journey is over. Your agent will evaluate each offer, confirm that the buyer is pre-qualified or pre-approved by a mortgage lender, and make sure the offer is acceptable to you. If an offer is too low, you can make a counter-offer or find other ways to bridge the gap, such as covering some or all of the closing costs, making repairs, adjusting the closing date, or leaving certain appliances or fixtures for the buyer.

STEP 6: Accept an Offer

Once you decide an offer is acceptable, your agent will review the proposed agreement to make sure it is in order and includes the necessary terms, such as the deposit amount, down payment, financing, inspection rights and repair allowances, conditions, closing date, and a list of fees and who will pay them. When both parties have agreed to the terms, your agent will prepare the final agreement.

STEP 7: Get Ready to Close

You have accepted an offer and are now very close to the end of your selling journey. First, though, you and the buyer must list everything that needs to be done before closing. In some cases, your home may need to be formally inspected, surveyed, and appraised. In others, major or minor repairs must be made before the sale can close. Your agent will lead the effort to build and complete this list, make sure each item is paid for by the correct party, and confirm that everything is in order by the closing date. A few days before closing, your agent will contact the parties handling the closing to make sure everything is ready. If you haven’t already, you also need to arrange your move so the buyer can take possession.

STEP 8: Close

You’ve reached the last step of the selling process. When you close on the sale of your home, you legally transfer ownership of the property to the buyer. Your agent will work with the parties handling the closing to sign the final paperwork and resolve any issues that have not yet been taken care of. This is also the time to plan final details with your agent, such as cancelling utilities, cable, and lawn or garbage services, changing the name on any accounts the new owner is keeping, and making sure the new owner has instructions for all appliances that stay in the home.