The real estate world is on fire, and homeowners across the country are eager to get their properties listed on this hot housing market — but there’s a catch.

Selling a home can be a lot of work.

There’s plenty to do, from researching the housing market to communicating with every potential buyer. Things can start to feel overwhelming when you go in alone. If you’re hesitant to take that first step because, well, you aren’t exactly sure what it is, don’t worry — everyone needs help navigating the home selling process sometimes.

The good news is that selling your house can be simple and stress-free — once you’ve brushed up on the basics and learned a few tricks. Here’s a look at the ABCs of being a savvy seller, from market research to moving day.

What you should be doing now that you’re selling

So you’ve decided to sell your home. Congratulations — you’re about to embark on a great adventure full of asking price negotiation, chats with the buyer’s agent and, of course, taking advantage of the current seller’s market. However, before you get all those great offers and eventually hand over the keys, there are a few preliminary things you’ll need to do to make sure the home selling process is a success.

Research the market

Roll up your sleeves and grab a notebook — it’s time to do a little homework.

It’s important to understand both local and nationwide housing markets, as buyers take both into consideration when setting their expectations. However, if the market in your own backyard is performing significantly better than in other parts of the country, that doesn’t mean you’ll have to lower your price to meet national averages. It just means you should do more research on the unique trends impacting your area.

Housing markets depend on a lot of variables, including:

  • Interest rates
  • Supply and demand
  • Economic health
  • Job opportunities in a specific area
  • Local buying habits

Take your time brushing up on each one to fully understand what to expect when putting your house on the market.

Learn about buyers

Before you can know how to tell your home’s story, you need to know who you’re telling it to. The identity of your ideal buyer depends on several factors, including:

  • Square footage of your home
  • Number of bedrooms
  • School district
  • Proximity to entertainment options
  • Proximity to large companies
  • Lot size

According to the National Association of Realtors (NAR), the median age of first-time home buyers is 33, and their median household income is $80,000. If your house is a “starter home” or a perfect fit for young families, this group is likely to be your target audience.

If, however, your home is larger or sits on more property, you’ll likely be catering to repeat buyers. According to the NAR, the median age of repeat buyers is 55, and their median household income is $106,700.

Keep in mind: The association stated that more than half of house-hunters, regardless of age, find their new homes online. That means it’s smart to keep up to date on the latest tricks for getting the right house in front of the right buyer.

Brush up on new selling techniques

The real estate market has a few new players, thanks to modern technology — like, for example, instant buyers or “iBuyers.” The NAR explained that iBuyers provide speed and convenience for sellers who don’t want to wrestle with constantly changing market conditions. For many homeowners, that’s a significant improvement over the old way of doing things, which involved long waiting periods and times when all you wanted to do was tear your hair out.

The traditional home selling process also involves steps like repairs, remodels and a whole lot of hassle. If you’re all about that stress-free life, sell your house to Bungalo instead — you’ll get top dollar by utilizing modern selling techniques, all without lifting a finger.

Know what you’re responsible for

As a seller, you have a list of responsibilities — most of them financial. Here’s what’s on your plate:

  • Homeowners insurance: According to Forbes, having homeowners insurance throughout the home selling process protects you from liability — for example, when buyers are touring your home.
  • Staging: Staging companies make your house look lived-in — but not too lived in. This helps buyers visualize how they might set up their own furniture, and it makes your rooms look good, too.
  • Photography: If you hire third-party real estate photographers — especially if you’re looking to create a 3D tour, a panoramic image or a drone shot of your lot lines — you’ll have to pay them separately.
  • Closing costs: Closing costs include mortgage insurance, attorney fees (if required by your state), appraisals, property tax and more.
  • Real estate agent fees: As a seller, you’re responsible for the fees paid to your own agent as well as the seller’s. This is usually 6% of the sale price, split between agents.

Does that sound like too much work, too much money or both? If so, selling directly to a platform like Bungalo or partnering with a real estate agent may be a better choice than trying to sell your house alone.

Working with a real estate agent: The pros and cons

Here’s the truth: Although real estate agents can be solid partners, you don’t necessarily need them in every scenario. In fact, buyers can get cash back when purchasing without an agent when using Bungalo.

Before making a decision, read up on the pros and cons of working with a listing agent.

Pros

  • You’ll have less work to do.

Real estate agents help you manage the workload as a seller. They organize showings, schedule open houses, write overviews and help market your house to the right buyers. Plus, they help you organize the documents you need — like data on lot lines, property tax information, appraisals and more.

  • You’ll have an industry expert on your side.

Unless you live and breathe real estate, the chances are that you’ll have questions about everything from determining market value to making the most money on your property — and real estate agents can help. They’ll also be able to navigate legal situations — like signing paperwork packed with jargon — that might otherwise leave you feeling stuck.

  • You won’t have to negotiate with prospective buyers.

If no one’s ever told you that you “drive a hard bargain,” negotiating the price of your home probably isn’t going to be your new favorite pastime. Listing agents act as the go-between for you and prospective buyers, meaning you won’t have to become a master negotiator overnight.

Cons

  • They take a percentage of your money.

6% is a hefty chunk of your payday — especially considering that, as a seller, you’re paying your own agent as well as the buyer’s.

  • They may not be marketing experts.

If you’re working with a listing agent just so you don’t have to do promotional legwork, be careful — even the sharpest home expert may not be a great marketer. Maybe they don’t know how to generate leads, get your house in front of the right people or put your home’s features on display — but you’re still the one who pays for it.

  • They may not be master negotiators, either.

Not all real estate agents aced their speech and debate courses in high school — and, just like you, negotiation may not be their favorite part of the job. If they’re not willing to fight for your money, the buyer’s agent will fight for theirs, and you may not end up with your home’s full value.

  • They don’t know everything.

At the end of the day, no one knows your house like you do. You could just as easily research house selling tips yourself, learn what types of renovations drive sales, do a little fixing and decluttering, appeal to buyers and end up putting every dollar right in your pocket. Or if you want to avoid the work without paying someone else to do it, just sell your house to Bungalo: You’ll still get top dollar, and you won’t have to worry about repairs or renovations.

Preparing your home for sale

To get your home ready for the big day, there are some things you should do — and some things you shouldn’t. Here’s how to make sure you’re putting your house on the market in just the right way to attract prospective buyers.

Knowing when to sell

Although markets vary depending on the local economic climate, spring is usually the best time to sell a house. Prospective buyers think of it this way: The weather is perfect for touring an open house, there’s no snow to drag moving boxes through and the kids will be out of school soon.

With this in mind, it’s easier to plan accordingly — for example, making sure all your projects are done before the end of April.

Renovating and repairing

Speaking of projects, exactly how many should you be doing before you sell your home?

Well, that depends. If you’re selling your house as-is, you’re telling buyers that you didn’t make big pre-sale repairs and that you’re offering no guarantees. This also means that they can’t hold you responsible for anything that goes wrong with the property — for example, the HVAC system failing as soon as they walk in the door. Because as-is houses tend to sell for cheaper, you’re more likely to attract cash buyers this way.

If, however, you want top dollar for your home, you should do any repairs or renovations that will help your property perform well on the market and pass a home inspection with flying colors. That includes things like boosting curb appeal, removing popcorn ceilings, scrubbing mold out of bathrooms or laundry rooms, replacing carpet (or having it professionally cleaned) and, according to HGTV, paying attention to the little things — like giving your front door a fresh coat of paint.

Don’t try to fix everything, though. You can leave certain things — like a water heater that’s not brand-new or a driveway that has a few cracks — for future owners to fix when they see fit. Plus, in a hot real estate market, buyers are more likely to shrug off a few minor flaws to get their hands on a property.

Putting your best foot forward

When selling your house, there are times it needs to get all dressed up: during real estate photo shoots, before an open house and especially before prospective buyers tour the property.

Here are a few tips to help your house put its best foot forward.

  • Clean and declutter: A messy house suggests to buyers that your floor plan doesn’t have enough storage. Clutter also makes it more difficult for house-hunters to see past your stuff and imagine their own in the space — so pull out those storage totes and get to work.
  • Take good photos: You probably won’t be behind the camera, but it still pays to make sure your real estate photographs show off your house’s best features. That means no blurry pictures, bad angles or poor lighting — and it also means you should consider temporarily moving furniture to make spaces look larger.
  • Get rid of personal stuff: Wedding photos, dog toys or your kid’s soccer trophy can distract buyers from what your house has to offer. Get rid of your personal touches to help prospective buyers see your home as a blank slate.

Why sellers are also buyers

Unless you plan to live in a treehouse on a remote island — and who wouldn’t want a permanent vacation? — selling your home means you’ll need to buy another one. That, in turn, means you can’t just think like a seller — you have to think like a buyer, too.

As you work your way through the selling process, keep these things in mind:

  • You’ll have closing costs on two different houses.

Remember that the costs of selling a house include upfront fees, like staging or repairs, as well as closing costs that come later in the game. All of this can quickly add up — and when you’re selling one house and buying another, every dollar counts. Make sure to take all the steps necessary to save money where you can.

  • You need to time things just right.

It’s possible to sell a vacant home if you end up moving into your new place before closing on your old one. However, keep in mind that you’ll still need to facilitate things like a home inspection, and you may need different homeowners insurance to cover a vacant property.

Also consider that, to make the transition as smooth as possible, you’ll likely want to be buying and selling at the same time. That means you shouldn’t start any long-term repairs right before the moving process — otherwise, the sale of your home will be held up, which may make the sellers of your new home worry that you won’t be able to secure funds.

  • You want to make sure your new home is move-in ready.

If working with buyers slows down your selling process, your moving schedule could be delayed — which means you might not be able to get into your new property and start making repairs right away. Instead, look for Bungalo certified homes — they come with guarantees and warranties that mean you won’t have to worry about making repairs on the new place.

Sell your house with Bungalo

Giving your house the sendoff it deserves can be a lot of work — but it doesn’t have to be. Skip the real estate agents, photography, staging and repairs, and sell your house to Bungalo instead. You’ll save money on closing costs and you won’t have to worry about timing things just right to get into your new place.

Don’t let your old house stand in the way of finding a new one. Start working with Bungalo today.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Bungalo always encourages you to reach out to an advisor regarding your own situation.

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