1. Identify your motivation for selling
Spend some time exploring your reasons for selling. The process can be arduous and expensive, so make sure you're certain you want to sell before you get too far into it.
Address finances: Call your current loan servicer to discuss your remaining mortgage balance. It's your first step toward understanding how much equity you'll have when you sell. Knowing this figure can help you budget for improvements you'll need to make before listing or help you plan for your future home purchase.
Calculate how much you could make when selling: Once you know what your financial picture looks like, use Zillow’s Home Sale Calculator to estimate your proceeds after you sell. Plug in information like how much you want to sell for and how much is left on your mortgage, then you’ll see how much money you may have after the deal is done.
Make a list of non-negotiables: Jot down your must-haves and deal breakers. What's your time frame to move? What's your budget for pre-listing home improvements? What's the minimum sale price you will accept?
2. Research the best time to sell in your area
Understanding the state of your local real estate market — including whether you're in a buyers or sellers market — can help you identify the best time to sell. If you have flexibility in your timing, you might consider waiting for a sellers market, which occurs when there are more buyers searching for homes than there are homes available. It gives sellers the negotiation power and can drive up prices.
The best month to sell a house to sell quickly and maximize profits, has historically been May or early spring around March. According to the most recent Zillow analysis of annual sales data from 2024, the best time to sell a home is the last two weeks of May. Homes listed for sale during that window sell for 1.6% more — or about $5,600 on a typical home.
This selling window can vary based on your local real estate market, so check with us garywolter.com to learn which month is the best time to list in your local area. Your Owner Dashboard (which can be accessed after claiming your home), also shows your home's selling price now, compared to the ideal selling month, and it's based on seasonal sales patterns in your area.
If you’ll be selling and buying a home at the same time:
It can be complicated to look for a new home while you’re trying to sell your current one. Odds are you won’t close both deals at the perfect time so you can move out of one and into the other immediately. You’ll have to decide whether you’re trying to sell or buy first. There are pros and cons for each route, so you should choose whichever works best for you.
3. Commit to a representation strategy
One of the first things you'll need to decide is if you're going to sell your house on your own (which is called 'for sale by owner' or 'FSBO') or if you're going to use a real estate agent. In 2024, just 7% of sellers who reported selling in the past year sold their home without ever engaging an agent.
Consider the pros and cons of each option, including how quickly you need to sell, the temperature of your local market, and any challenging features of your home that may require expertise in negotiations.
If you plan to hire an agent:
- Ask for referrals.
- Interview each potential agent.
- Don't hesitate to negotiate your contract.
- Trust your agent's home-selling advice.
Comments(1)