Over the years I have seen and heard tons of promotions and educational programs for the first time homebuyer. While I believe it is important for first time buyers to be educated and confident about the process of buying a home, I also see a need to lay out a road map for current homeowners who find themselves in the position of selling a home for the very first time.
If you’re selling a home for the first time, there’s no doubt you have many questions starting with the obvious: What’s the first step? I had a very nice gentleman call me and ask this very question just a few weeks ago. While my process may be different than others, below is general idea of what you’d expect if you were to call me to discuss the possibility of selling your home.
1.) Evaluation - The very first step would be an informal meeting at your home for a walkthrough to determine exactly what you have, how marketable it is, any recommendations on improvements to help sell the home, look for any objections a buyer may have to the property and ultimately gather all of the information necessary to determine what the estimated market value will be.
2.) Market Analysis – This is accomplished by performing both a Comparative Market Analysis (CMA) and Absorption Rate Analysis. These two reports will show us what comparable homes to yours have sold for and most importantly where your home will be positioned in the market if you decide to move forward with selling. Knowing the homes you will be competing against is as equally important as knowing what homes like yours have sold for. The absorption rate can also reveal up or down trends in the market thus telling us more precisely where we may position your home price wise.
3.) Preparation and Listing – Assuming you are ok with the recommended list price and anticipated selling price of your home, we would now move to this critical and 3rd step of the process. This is where any necessary or recommended improvements to the home that would help it show at its absolute best would be made. Once complete, we would schedule a time for the pictures to be taken. As soon as we have pictures and the home is ready to show, we’d complete the paperwork and get started with the marketing of your home. -mr
Please feel free to send your questions. Rest assured I will only use your first name. Email them to: firstname.lastname@example.org
Or mail them to:
Questions for Mike Randall
Coldwell Banker Pinnacle Properties
2093 Florence Blvd, Florence, AL 35630
Mike Randall, REALTOR® Associate Broker | ABR, CRS 256.366.9779 | www.mikerandallhomes.com Coldwell Banker Pinnacle Properties 256.766.0069 Office 256.766.0926 Fax