Preparing Your Home to Sell

When selling their homes, owners generally want the same things: to sell their home quickly and for the highest price. While your real estate agent will be a trusted partner in the sales process, you'll need to do your part as well for a successful sale. Here are 6 steps sellers can take to increase their chances of a quick sale — and still get a healthy offer on the home.

1. Research your market

When you're thinking about selling, it's important to know what's happening in your local housing market. To decide if the time is right to sell, check the recent sales of nearby homes and see how quickly they sold. You can ask your real estate agent for market statistics. At least a few weeks before you're ready to list your home, browse photos of nearby homes that recently hit the market to compare the listing price and condition of the home to yours.

2. Find the right listing agent

While you may want to hire a listing agent you already know from previous interactions, it pays to interview at least two or three agents to gain their market insight. Ask to see a listing of homes they've sold in the past year or two. You want to find someone with experience selling homes in your neighborhood or town — and at a price point similar to your own. In addition, ask potential agents to review recent sales statistics with you. While you may have already reviewed these when deciding if it made sense for you to sell, the right agent should be able to add color and insight into the data, shedding light on issues such as how quickly homes like yours are selling and whether they are selling for close to the asking price. And finally, ask prospective agents to describe how they plan to market your home.

3. Work with your agent to price your home

Use the information from your market research and agent interviews to discuss the potential listing price for your home with the agent you choose. Keep in mind that pricing your home correctly from the beginning is vital. In a survey by Homelight.com,1 70% of agents said that overpricing is the number one mistake sellers make. If you've made upgrades to your home or are aware that your home offers something special (such as a larger yard or a better view than others in the community), share that information with your agent to help you establish your listing price. A list of upgrades with dates of when the projects were completed can be used to market your home to buyers, too. Tell your agent about community amenities and any planned neighborhood improvements.

4. Decide what to repair

Generally, you'll need to repair anything that could be hazardous to buyers,2 such as a structural defect, a malfunctioning furnace, or a damaged roof. If you're concerned that your buyers will find too many flaws during a home inspection, you can have a pre-listing home inspection3 for about $300 to $750, depending on your location, to identify any potential issues.

5. Strategically choose cosmetic upgrades

While cosmetic changes are optional, you may want to do some minor upgrades to make your home more attractive to buyers. Replacing or painting your front door and sprucing up your landscaping are important exterior projects4 that can attract buyers without costing too much money. Whether you hire a professional or do it yourself, a deep cleaning including all your windows is essential before you put your home on the market. Your listing agent can help you identify rooms that need fresh paint and areas that just need cleaning. Buyers typically focus most on the kitchen and bathrooms,4 so it could be worthwhile to replace your fixtures or paint your cabinets to make those rooms more appealing.

6. Stage your home

Buyers prefer to visualize how they would live in your home, so it's smart to neutralize your rooms5 by removing personal items such as photos and unusual artwork. Decluttering surfaces, cabinets and closets make everything look more spacious and cleaner. Since you're planning to move, this is a good time to donate, sell, or throw away items. Depending on how many boxes you have, you may be able to store them (neatly!) in a garage or basement — or you may want to rent a storage unit to temporarily store belongings until you move. Buyers pay attention to storage such as primary bedroom closets, a pantry and a linen closet, so having some open shelves in those spaces can help them see the space your home offers. Adding fresh towels in the bathroom and a new dishtowel in the kitchen can also make your home look brighter and newer. Ask your real estate agent for staging help and pick up ideas from open houses and model homes to add interior and exterior appeal to your home.