There are plenty of moments in life when we feel comfortable just winging it. Your tropical vacation is no time to set an early alarm. Inviting your family to town and trying to plan every waking aspect of your time together is exhausting for everyone involved. When planning does more harm than good, going with the flow is the only antidote.
Of course, at other times, you’re in the market for stability and predictability. You wouldn’t accept a job offer without a sustainable salary, nor would you send your children to a school where the hours vary. Life’s circumstances aren’t always black and white, but when you’re gearing up to sell your home, you’re not going to shrug your shoulders and hope for the best. You’re going to need a plan of action!
As a realtor in Northwest Arkansas, the latter situation happens to be my area of expertise. I like to make sure my clients have an action plan before we get too far into the weeds. This ensures a stable, more predictable selling process that is far less stressful than just winging it.
If you’re preparing your home for the market, this one’s for you. Here are each of the action steps I take with my clients and why they matter:
- Analyze why you are selling.
Is your family growing? Is there a cash flow issue? Are you simply looking for a change of pace?
When you understand your motives, you empower yourself to negotiate effectively. Do you require a quick sale, a high price point, or something in the middle? Only your motives can tell you.
- Prepare your home for the buyer.
Now is the time to assess your property’s strengths and weaknesses. If you’ve lived in your home for many years and are struggling to view it objectively, consider calling in an architect or a landscape designer who can give you an outsider’s perspective.
The goal here is to maximize your home’s strengths (Do you have excellent lighting? Have your appliances been upgraded recently? Is your original hardwood in good condition?) and repair its weaknesses (Are your walls scuffed from shifting furniture? Could your yard use a quick clean-up?). You want potential buyers to walk away from your home with a positive first impression that sticks with them.
- Find a great real estate agent who understands your needs.
I’m definitely biased, but this is my favorite part! You want an agent who is loyal to you and your family, someone who can help you negotiate and achieve your goals from step one. Your agent should be honest and assertive, both with you and with buyers.
If you’ve never hired a real estate agent before, let me tell you a little secret: The way they market themselves is likely the way they plan to market your home. Make sure you’re sold on their skills before you trust them with the sale of your property.
- Be prepared for negotiation.
There’s a reason people hire negotiation coaches—most people struggle with it!
To prepare yourself for this step, you’ll need to understand your buyer’s situation. What are their motives? And can you demand a large deposit from them? Your aim should be to lock in the buyer so that the deal goes through.
- Negotiate for the best price and terms.
Time to put that preparation into action. You know what you want, and you know what your buyer wants. Now, it’s time to counter-offer to get the maximum value possible. (Hint: Your real estate agent can help you with this!)
- Make sure the contract is accurate and complete.
My top tip here is to be honest in your disclosures. You do not want your deal to fall through because you undersold your home’s defects.
Insist that the buyers schedule a professional inspection of your property. Covering your bases like this protects both parties, bringing you to a satisfactory closing.
There is fun to be had in spontaneity—but not when you’re selling your home. I’ve found that my clients are much happier (and less stressed) when they have clear-cut plans of action that define their motives, prepare their homes, and level up their negotiation skills. It’s a bit like meal prepping—a momentary time-suck that winds up saving you a lot of energy later.
For me, the best part of this process is meeting new people who love Northwest Arkansas as much as I do. If that sounds like you, HMU. I’d love to help with your plan of action.