Steps involved in the selling process for HighTech

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hey guys in this video i will go over the step-by-step home selling process so let's go [Music] thanks for tuning in guys if this is your first time on my channel i am a real estate professional here in san diego california and i recently started my own team the ms group so make sure to hit the like and subscribe button for more videos just like this one alright let's get started so i decided to make this video about the home selling process and lay it out step by step i feel like there's a lot of information out there for first-time home buyers but not necessarily for first-time home sellers or possibly someone who hasn't sold a home in 5 10 or maybe even 20 years because let's be honest it's not every day that you are on the market to sell your home now let me say that i don't care if it's a seller's market or buyer's market i do these next 10 steps every single time if it's a buyer's market it's important because they will set your home apart from others and if it's a seller's market like what we are currently in then it's also extremely important because not doing these steps we are one doing a disservice to our client and two leaving money on the table and please whatever you do please please please work with a full-time full-service professional agent i can't stress this enough also please keep in mind that steps six seven and nine will depend on the market whether it's a hot seller's market or a buyer's market okay so now let's dive right into it step one the initial interview by the time you start interviewing agents you have already decided that you want to sell your home you have a rough idea of how much your home will go for in the initial interview you will choose a listing agent and agree on setting the price now when interviewing agents it's extremely important that you ask them all the questions and doubts you may have it's also important that you discuss with your agent if you will be having a sale contingent on you finding a property what does this mean this means that do you need to sell your home in order to buy something else now this is considered a double escrow and the sale and purchase of another home is a delicate transaction because if one falls out of escrow then they all come crashing down again this is why i can't stress enough that working with an experienced agent who has done this before is extremely important moving on to step number two is the listing agreement in this step you will agree with your realtor on commissions length of the listing agreement which is typically six months you will go over disclosures and sign the listing agreement you will also go over what stays in the property as in appliances and pictures and what will go now typically fixtures stay with the property but you should let your realtor know if you will be taking with you any fixture so that it's specified to interested buyers what's going and what's staying after reviewing the agreement your agent should go over the next step which leads me to step number three getting your home ready for market in this step you will be suggested if need be to do any repairs your realtor has recommended usually it's painting some walls patching up drywall holes and changing dirty light switches yes you may think buyers don't notice these small things but trust me they do and they go a long way also while you're making these repairs why not declutter if you're already planning to move why not put some excess furniture and family photos in the garage one it makes it faster and easier for you to move out and two your home will look bigger and better for the professional pictures again even in a hot sellers market all these steps are important because a well presented home will always bring in higher offers side note if you are selling an empty house staging should be brought up in the listing appointment a staged home will always be more appealing to a buyer step number four promotion now being a real estate agent this is my favorite step this is where the marketing campaign really kicks in your real estate agent should have professional pictures taken of the property and cinematic footage all edited super clean and ready to go remember we are not just selling your home but a lifestyle to go along with it it's important to show all these features in the video especially in today's world where we are on social media house hunting and looking at property videos once all marketing is in place it's time to show the world your home [Music] it's important that the home be listed on the mls with all the accurate details because all this information will be populated to major websites like zillow realtor.com home finder redfin and thousands more ing to the national association of realtors 51 of home buyers find their home online and i honestly think it's way more than that so allowing your home to be fed into syndicated websites is a smart thing step number five open houses this is where we open the doors to the public now as your agent we need to get as many people through the door remember that the more people come and view your property the higher the chances are that we get multiple offers i always go all out when it comes to open houses this means setting out all my open house signs to setting the move with some good scents and drinks for when guests walk in step number six receiving offers home sellers it's your turn to shine it's your time to say which offer you will accept which offer you will reject and which offer you will counter now it's not always the case but usually the first offer tends to be the best one this is of course mostly seen in buyers markets remember that you don't want your home staying on the market for too long so it's important that you price it correct step number seven opening escrow in this step the buyer's earnest money should be deposited within three days of opening escrow the deposit is the collateral that the buyer puts down when making an offer on a home along with a buyer's earnest money deposit your home will also have a thorough inspection by a professional who will be brought in by the buyers now depending on the agreed offer the buyers will submit a request for repairs this is only a request so you have the option to object the repairs because they're too elaborate like requesting a new roof resolve the request by offering credit for the buyers out of the close of escrow or have the repairs taken care of again this is something that may make or break a deal depending on the scope of work i always suggest for buyers to be fair when asking for repairs and for sellers to be understanding as well step number eight title insurance you the seller will pay for the cost of title insurance policy issued to the buyer it's basically you proving that you have nothing to hide for example there are no liens or judgments filed against your home you the seller will provide the buyer with a clear title to the property step number nine home appraisal believe it or not this is a very very important step because a sale can fall through if the purchase price is too high it's important to price your home ingly to your comparative market analysis your home appraisal is an unbiased estimate of the true or fair market value now as a seller you need to understand that a low appraisal will most likely mean the seller will ask you to lower your home's price to get it sold no buyer wants to overpay for a property now this can delay or derail the transaction and note that the bank won't lend the buyer more than what the home is worth but as i said earlier this step will vary depending on where the market is at if you've been keeping tabs recently you've probably heard the term waiving appraisal a lot this means that no matter what the appraisal comes in at the buyer will be buying the home even if appraisal comes in low and just an example if you accepted an offer at 500 000 and the appraisal comes in below that number the buyer will need to bridge the gap up to purchase price with money out of pocket that is of course when appraisal comes in lower now if appraisal comes in higher than the purchase price then that's a plus for the buyer that means they're buying a home for under market value now usually when appraisals come in what i've seen recently above purchase price it's not that far off it's five or ten thousand dollars depending on the home's purchase price step number ten closing you sign documents receive net proceeds and turn over the keys so congratulations you just sold your home one of the best feelings as a home seller and home buyer is closing escrow this means both parties have agreed to everything so now it's time to go out and search for your next property so that's it these were the 10 steps to the home selling process thanks for watching if this video added any value please hit the like and subscribe also comment below if you feel i missed something or maybe i should have discussed more any of the stuff actually let me know if you would like me to make a video diving deep into any of the steps i know this was an overview of the home selling process but i hope you enjoyed it and i'll see you guys in the next one peace [Music] me [Music] oh [Music]