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You're here because you're wondering, "Is it time to sell my home?" Selling a house is no small undertaking, and it takes careful thought and planning to get to closing day.
Whether you do a For Sale By Owner (FSBO) or hire a real estate agent, there is a list of tasks to complete to get your house ready to sell. Set yourself up for success with some of these suggestions before planting the for sale sign in the yard.
Here's what the process looks like, what decisions you need to make, and the to-do list to get your home prepped and ready to sell.
1) Decide if you want to do a FSBO ("For Sale By Owner") or use a real estate agent.
Among a long list of to-dos, there are a lot of decisions to make. The first and the biggest one is whether or not you want to do a For Sale By Owner or use an agent to sell your home.
Hiring an Agent
Real estate agents are licensed to help you price, advertise, and close your home sale. They are trained to help you with marketing and financial decisions. Most importantly, agents know the legal ins and outs of negotiating, contracting, and the documents needed to close on your home.
For Sale By Owner
If you’re familiar with the buying and selling process and know that motivated buyers are in your area, you could consider a FSBO (For Sale By Owner).
Homeowners who want to avoid real estate agent commissions often consider taking on the DIY selling process during a strong sellers' market when there’s more opportunity to negotiate a favorable deal.
If you decide to sell your property yourself, you'll need a real estate attorney or a title agent to assist you with the legal details of closing. Educate yourself beforehand about the process, be willing to work with buyers who come with an agent, and check the financial qualifications of any potential buyers before you start dreaming about the big closing.
Whichever route you choose, agent or FSBO, download our free home selling guide below, which is packed with great information and practical steps.
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2) Learn the market.
Recent housing shortages and higher interest rates affected when buyers buy and when sellers sell, but it's crucial to remember that the real estate market is ever fluctuating, as are interest rates. Since the variables change and the real estate market shifts, discussing current trends with your agent or studying them yourself is best.
Afterward, you'll have a good idea of the best time to list your house, considering, of course, the local military population in your area. As you know, they move regardless of a typical or non-typical selling season.
What to Know About Military Real Estate Markets
Real estate markets, more specifically, military real estate markets, have a steady cycle.
Think of PCS seasons, the typical time of the year that most military moves take place. Generally speaking, the beginning of the year is slow. It’s not until spring that activity starts to pick up. And come summer, home buying reaches its peak. Real estate climbs, and the market maintains momentum until late July/early August when it slowly tapers with the arrival of a new school season.
There’s a second spike in the real estate market as those leaves begin to turn, but it’s not long. Halloween initiates the end of the real estate season. It doesn’t revive until the new year begins—save a few sales associated with off-season PCS movers.
The real estate market sees a second peak as those leaves begin to turn, but it’s not long. Halloween initiates the end of the real estate season. It doesn’t fully revive until the new year begins, other than a few sales associated with off-season PCS movers.
What’s the best time to list your property for military home searchers? Early spring! If it makes sense for your situation, list when eager buyers start scouring the market. Early birds start researching to learn about the neighborhood as early as January, but most will seriously look in February and March for a May or June closing.
Remember, preparing your house to sell takes time, so start prepping during the winter to maximize your home’s best-selling features.
3) Prepare your property to sell.
Getting your house ready to put in front of buyers feels like a long list of chores, but it’s a necessary to-do list to make your sale successful.
- Curb appeal. Replace or remove dead plants, overgrown landscaping, broken railings, or a weathered mailbox. Touch up exterior paint on the house, railings, trim, or front door.
- Freshen paint. Apply neutral color to the interior of your home. Not only does this step help freshen dinged walls, but it also creates a blank slate for potential buyers to envision their lives.
- Make minor updates as needed. If your property needs updating, consider changing the countertops and fixtures.
- Declutter. Remove everything from sight that you can live without daily.
- Rent a storage unit. Fill it with everything extra you have lying around, even the stuff filling your garage.
- Stage your home. Staging your space is critical. Time and time again, studies show that correctly staged homes sell faster and for more money than those that aren’t. You might think that homebuyers don’t want to see your stuff in their potential house, but they appreciate the ability to envision their use for the space.
The National Association of Realtors notes that 81% of buyer’s agents said staging made it easier for a buyer to visualize the property as a future home.
While these cosmetic updates benefit your sale, it’s best to exercise caution when taking on more extensive renovations before selling. The last thing you want to do is over-improve your home and risk reducing your profit when it sells.
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4) Price your home accurately.
Determining a price for your home requires extensive knowledge of your local area. The market, comparison to other properties, city developments, and your property's purchase history all factor into an appropriate sale price.
If you go with the help of an agent, they will help you determine the fair market value of your house and price it accordingly. However, should you choose to do a FSBO, you need to add market research to your list of to-dos.
Either way, don’t forget elements that affect your asking price, like renovations, staging services, and improving the all-important curb appeal.
Pro Tip: If you do a FSBO, be objective. Remember, your memories don’t add value to the property. Put emotions and feelings aside to ensure accuracy when determining the fair market value of your home.
5) Create a listing.
Now that your home is ready to sell, it’s time to create a listing! The internet is your opportunity to get your property in front of potential buyers everywhere and make it shine.
Take quality photos of your home. Images are everything when it comes to your listing!
- According to a 2023 National Association of Realtors (NAR) report, 100% of home buyers shop online.
- 85% of home buyers consider photos the most crucial factor when house-hunting online.
- 32% of homes with professional photos sell faster and for approximately 47% more money per square foot than properties with amateur photos.
Once your property is prepped and staged, hire a professional photographer to capture your home at its best. If you're pinching pennies, learn the ropes to take amazing photos yourself. Remember to take them when the space gets lots of natural daylight, make sure the camera is landscape-oriented, and use a wide-angle lens.
Write a captivating description. While photos undoubtedly take the cake, your written depiction hooks potential buyers. The description is your opportunity to convey the quick facts and major selling points that will make your home a contender among house hunters.
Click the image below for some pro photo tips!
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Include in your description:
- Location. How close is your house to the nearest military installation? How far are the best restaurants, downtown, nearest city, attractions, etc.?
- Keywords. Words like enhanced, meticulously maintained, upscale, beautiful, turnkey, spacious, and open floor plan are a few phrases known to help homes sell.
- Description of the local culture. Bring the viewer in on the neighborhood. What kind of community and amenities come with purchasing your property?
- Include contact information. For obvious reasons, you want to be accessible to potential home buyers. Not only should you include an accurate phone number and email, but it’s vital that you answer or return calls promptly, especially if you’re working with a buyer’s market.
6) Market your home.
A home listing won’t do you much good if it isn’t seen by potential buyers! Thankfully, you’re no longer dependent on only a sign in the yard and an ad in the Sunday newspaper. Most advertising is online today.
Whether or not you use the services of an agent, here are some ways to create a successful online advertisement.
- List with MilitaryByOwner. If you live near a military installation, one of the best ways to get your property in front of the military audience and reach PCSing service members is to list with us (Remember, you can create a listing on MBO whether or not you use an agent!). Check out our advertising packages here.
- Use social media. Use social media to further advertise your home. Post your online listing on your Facebook, then ask your friends to share it on their news feeds.
- Put up a yard sign. Finally, put a sign in your yard (get that MBO sign in our ad packages above!) and flyers around town. Most buyers begin their search online, but you can’t deny it’s hard to miss a "For Sale" sign sitting in someone’s yard.
- Create a virtual tour. Create a virtual tour of your home using the photos you took and one of the many programs available.
7) Review offers and finalize contracts.
When attractive offers arrive in your inbox, you know the hard work has paid off. Now, it's time to start negotiations with your buyer.
Most buyers will need financing to purchase your property, and there’s a good chance that if they’re military affiliated, they’ll want to use their VA loan benefit, so prepare to wait for the appraisal and the inspection process to unfold.
Once the appraisal and home inspection information returns, you and the buyer can start negotiating. Final sale price, closing costs, necessary repairs, closing dates, and any other detail that might be important to either party are all negotiable.
8) Close on your home.
The closing process usually takes about 30 to 45 days. Before officially signing, you must understand and execute the contract’s closing costs, fees, contingencies, escrow, taxes, and more.
Depending on everyone’s location, you may sign the paperwork and transfer keys in the same room on the same day. But chances are, with military members often in different locations, someone will electronically sign or use representation to close the deal.
If you did a FSBO, you might consider hiring a closing agent. The laws vary from state to state, so having a licensed professional on your side can be helpful.
Although not technically part of closing, taxes are very much a part of a home sale. You must understand your obligation to the IRS after you’ve received payment. You’re likely looking at a capital gains tax in April, but there are exemptions and exclusions related to a military PCS move or deployment.
Hopefully, all goes well during closing, but what happens if the contract falls through? You’ll either start from scratch with a new buyer, work with the current buyer to negotiate different terms if there is an issue, or possibly wait until they’ve cleaned up any problems with their lender.
There’s no denying that getting your home ready to sell is hard work. But with a little organization, a little help from the professionals, and some guidance from your friends here at MilitaryByOwner, you should be well on your way to a successful home sale!
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