To gain perspective on how long the process of selling a home in New Orleans might take, explore the steps typically required to complete the deal.
Discover the 7 steps to proper home selling, from listing a New Orleans home to landing a buyer.
You’ve decided to sell your New Orleans home, and now you’re ready to find a buyer and close the deal as quickly as possible. From contacting a NOLA Realtor and planning, to completing repairs and cleaning up, to the typical time it takes to close, how long are you looking at, and what are the steps involved?
Although the time it takes to sell a home can vary based on the property and the local market, your Realtor should be able to tell you the average days on market (DOM) for your specific NOLA neighborhood. Currently, houses priced between $300-350k are on the market an average of 65 days, while those priced between $500-600k spend 85 days on the market, on average. To gain perspective on how long the process of selling might take for your home, explore the steps typically required to complete the deal.
1. Choosing a Realtor
A real estate agent will represent you in the sale of your home and has a duty to look out for your best interests during the process. Don’t necessarily hire the first one you meet with; instead, interview several Realtors and make an informed decision, paying particular attention to a potential agent’s experience and familiarity with the local market.
2. Pricing the Home
The biggest mistake you can make is to price your home too high. Instead, have your agent conduct a comparative market analysis to determine the correct price, taking into consideration the local market, comparable homes for sale in your neighborhood, and what they have sold for.
3. Preparing the Home for Sale
Once you’ve decided how to price your home, you’ll need to prepare it for sale. We highly recommend hiring professional cleaners and paying special attention to windows and doors with glass. Pristine windows allow natural light into the home and can be crucial to pleasing buyers who are looking for bright, open spaces. Preparation also typically involves de-cluttering rooms and closets, performing any necessary repairs, and improving curb appeal.
4. Creating a Marketing Campaign
With your input, your Realtor will be able to pinpoint the unique aspects of your home and create the marketing plan to help sell it. You should approve your agent’s marketing plan, insist on quality photographs that will put it in the most favorable light possible, confirm that your property is posted online, and be willing to make adjustments based on traffic and showings.
5. Showing the Property
Nobody is going to buy your home sight unseen. At Satsuma, we recommend two open houses in the first week: one on a weekday focused on gathering feedback from other Realtors (and particularly eager potential buyers), and one on a weekend targeted to the general public. You’ll also get more showings if you let Realtors use a lockbox to show your home than if you require them to make appointments with you.
6. Accepting an Offer
Don’t ignore any offers, even lowball ones; use them as an opportunity to make a counteroffer, even a full price one, if your price is competitive and your home warrants it. Once you accept an offer, you’ll need to submit the required deposit check to the buyer’s title company. The title company will begin the title work that is required to transfer the properties ownership. The day after the contract is accepted, the inspection period begins. For more information on home inspections, click here.
7. Preparing for Closing Day
Closing day is a big event in the lives of both buyers and sellers. To prepare for closing, you’ll need to pay the costs you agreed to pay under the terms of the residential buy or sell agreement. You’ll be asked to attend the closing, sign a large stack of paperwork, turn over the keys, pay your Realtor, and at long last, receive your proceeds from the sale.
Contact an Experienced New Orleans Area Realtor Today
When you’re ready to list your home, our experienced team of agents is ready to assist you every step of the way. For help selling your home as quickly and efficiently as possible, contact Satsuma Realtors at (504) 483- 8884 or use our simple online form for a prompt reply.