Before Listing Your Home
Selling a home doesn't just involve calling an agent and sticking a "For Sale" sign outside your front door. If you really want to make the most of your equity, you'll need to put in a little effort before you list! Here's how to start your sale off on the right foot.
2+ months out
Find an experienced local real estate agent
First and foremost, you'll want to establish a connection with a trusted New York City real estate agent. The right agent will be familiar with the intricacies of the Manhattan and Brooklyn markets, and they should also have experience working with your specific price point and type of property.
Don't be afraid to interview a few different candidates before settling on "the one". Choosing a good real estate agent is the key to pricing your home right, selling fast, and preventing a few headaches along the way.
6 – 8 weeks out
Consider repairs and improvements
Before your property hits the market, your agent will likely complete a thorough walkthrough and suggest any potential upgrades or repairs. Making a few improvements won't just draw more buyers to your listing—it'll also help you sell faster and turn an even bigger profit. If your home isn't quite move-in ready, it might also be a good idea to have a pre-listing home inspection.
Once you've taken care of any necessary repairs (either yourself or with help from a professional), take some time to make a few value-boosting upgrades around your home. This can include painting the walls in neutral tones, upgrading your fixtures and hardware, or adding some landscaping.
4 – 8 weeks out
Price it right
Want to know the secret to selling your New York City home in no time at all? Pricing your home right from the start will help you attract buyers without sacrificing any of your hard-earned equity. Your agent can provide valuable insight...and make sure you aren't leaving any money on the table!
Want to get a better idea of what your home is worth? Check out our neighborhood sold reports or request a free home valuation!
1 – 4 weeks out
Get your home ready
Today's buyers are looking for bright, open homes that are free of clutter and personal touches. That's why it's important to stage your space—and a little prep work can go a long way!
Work room by room to declutter and get rid of things you no longer need. It may also be beneficial to rent a storage unit for your belongings until you move into your new home. Get rid of any personalized decor (like family photos and memorabilia) and ensure your space is as neutral as possible. Finally, give your home a thorough scrub down or hire a cleaning service to get it looking spectacular.
Listing Your Home
Now that your home is market-ready, it's time to officially list it! Here's what to expect when your home is for sale.
Marketing
Reach the greatest number of buyers
Your agent will be responsible for marketing and advertising your home to the right buyers. Most real estate professionals use a multi-faceted approach that involves listing a home on the MLS, social media promotion, print advertisement, and in-person events (like open houses). A well-connected agent might even have a buyer lined up for your property before it's on the market!
Showings
Let buyers take a tour
While many buyers prefer taking virtual tours or browsing listings online, they'll often request an in-person showing if they're serious about a home. It's best to be prepared for showings at all times—that means keeping your home neat, clean, organized, and staged. Additionally, you should be ready to clear out of the house during showings to avoid making buyers uncomfortable.
Dealing with offers
Negotiate and accept an offer
If a buyer is interested in your home, they'll submit a written offer. An offer will usually state how much they'll pay, their mortgage amount, closing and occupancy dates, and any contingencies. From there, the ball is in your court—you can accept the offer, counter back with different terms, or decline.
It's normal to go back and forth with a buyer to negotiate a deal that works for both parties. And if you ever have any questions about the process, your agent will always be on hand to offer advice.
The Closing Process
The finish line is in sight! All that's standing between you and a successful home sale is the closing—here's how it works.
Due diligence
Cooperate with home inspections & appraisals
Once you and the buyer agree to the terms of the sale, they'll likely order an inspection and appraisal. During an inspection, a qualified inspector will go through your home and check for any issues, both major and minor. They'll pay particular attention to the roof, basement, heating and cooling systems, structure, plumbing, and electrical systems.
If your buyer is taking out a mortgage, they might also order an appraisal. An appraisal evaluates a home's market value and ensures the lender isn't letting the buyer borrow more money than the property is worth.
Waiting in escrow
Gather some paperwork
During escrow, you and your agent will work with an escrow company to sign paperwork and ensure all parts of the contract are complete. This is also when the buyer will get their financing, complete a title check, and do a final walkthrough of your home.
Finally... the close!
Sign, collect & hand over your keys
The big day is finally here! On a pre-determined date, you'll meet with your agent (and possibly the buyer and their representatives) to sign paperwork, pay any fees, and hand over your keys. Once the title has been transferred, you've officially sold your home—congrats!
Ready to Sell Your Home in New York City?
Looking for a team of qualified agents who know the Manhattan market better than anyone else? Then it's time to contact BRP Associates! We have decades of combined real estate experience, and we'd be honored to help you sell your New York City home.
Need to buy a new home after you sell? Let's chat!