Selling a home in Sarasota can be complicated. Working with an agent local to the area is the best way to avoid mistakes. In a nutshell, they can help organize your finances and prepare your home for sale. Elite agents like Sandra Osorio can maximize your profit with expert home valuation, staging, marketing, and closing techniques. Read on for more specifics on selling luxury homes in Sarasota.
Preparing Your House to Sell
To prepare your house to sell, first determine your home’s value. Then interview agents to guide you through the process. Before listing, stage your home for showings and professional photos.
Determine Your Home’s Value
Determining your home’s value is an essential step in timing your sale. This will help you estimate your net proceeds or what you’ll make from a sale. You can start by researching the median and average home prices in Sarasota. As of January 2023, single-family homes in Sarasota County averaged about $675,000, with a median sales price of about $460,000. With your agent, work off these baseline figures to isolate the value of your home. A thorough agent like Sandra will localize your home value with a comparative market analysis (CMA).
Your home’s size, condition, and location are among the critical factors affecting your bottom line. You can always improve your home’s condition with upgrades designed to boost its value. With your agent, identify any projects with a high expected return on investment (ROI).
Interview Real Estate Agents
Photo courtesy of Shutterstock
Real estate agents are experts at selling a home in Sarasota. You can find interview candidates through recommendations from your network and online research. Ask questions to narrow their experience, area knowledge, and communication style. The best agents monitor seasonal trends, market conditions, and buyer interest. Regardless of your preferred timing, your agent should advocate for your best interest in all phases of your sale.
Staging Your Home and Taking Photos
Photo courtesy of Shutterstock
Before listing your property, take the time to stage it. Staging makes a home more appealing to buyers, as they can more easily picture living in the property. First, deep clean and declutter areas. Then, depersonalize by taking down photos. Focus on a neutral, bright look with interior decoration, and don’t forget curb appeal. An agent can hire a professional photographer to capture your home. High-quality photos catch buyers’ eyes and show them you’re serious about selling.
Selling Your Home
When selling a home in Sarasota, an agent will help you list your property online and market. As your listing attracts bids, you and your agent will weigh the strengths and weaknesses of these offers based on their financing. And as you negotiate, the winning offer will emerge at the closing table.
Listing on the MLS
Photo courtesy of Pexels
List your property on the MLS to reach the broadest range of buyers. MLS listings also trickle into platforms like REALTOR.com®, Redfin, and Zillow. However, a listing by itself isn’t enough. An agent should market your listing by holding an open house. This allows many potential buyers to view your property without a set appointment. Virtual tours are another essential resource, especially for out-of-state or out-of-country buyers.
Cash vs. Traditional Financing
As your agent markets your home, you’ll get to consider the pros and cons of buyers’ offers. An offer typically assumes one of two forms: cash or traditional financing. The main perk of cash offers is that they’re much more expedient. A buyer doesn’t have to wait for financing to come through, which means less uncertainty for a seller. However, cash offers are usually lower priced. Traditional financing usually makes the closing process longer. This can be advantageous for a seller still packing belongings or searching for a home. Even so, most sellers choose cash over traditional offers for its simplicity.
Closing Costs
Photo courtesy of Pexels
Closing costs for sellers in Florida average about 3.22% of the final sale price. Using the median sale price of $460,000, Sarasota sellers can expect closing costs totaling about $14,800. Closing costs may include title service fees, title insurance, documentary stamp tax, recording fees, and buyer incentives.
The home goes into escrow during the closing process. Escrow refers to an account used to hold the homebuyer’s funds until the offer is finalized. As a part of the closing process, a buyer may also order a home appraisal. This is required for finalizing mortgages and may impact a buyer’s ability to finance the home.
FAQs About Selling Your Sarasota Home
Even after reviewing the information above, it’s normal to have questions about the process. Here are some answers to common questions when selling a home in Sarasota.
How Long Does It Take to Sell a Home in Sarasota?
In Sarasota County, the median time to contract was 29 days as of January 2023, while the median time to sale was 74 days. If a fast sale is a priority, it’s possible to time your sale so your house spends the fewest days on the market. Historically, homes sell the fastest in Sarasota from April through July, with another window in November. If an expedient sale is a priority, your agent should consider your timing.
Is Staging My Home Worth It?
Yes, staging your home is worth it. The National Association of REALTORS®s (NAR) found that professionally staged homes sold up to 30 times faster. Staging also boosts a home’s perceived value, increasing its sale price by up to 20%. Staging before photos and for home showings increases your property’s appeal to buyers.
Can I Sell My Sarasota Home Without a Real Estate Agent?
Although sellers can list without a real estate agent, the process is often much longer and less successful. This is because for-sale-by-owner (FSBO) sellers lack a real estate agent’s experience and connections. Finding interested buyers can be tricky if you don’t have a buyer lined up already. A typical seller isn’t usually well-versed in marketing, pricing a home, or negotiating an offer. Typically, homes FSBO sell for less.
Ready to Sell Your Sarasota Home?
When selling your Sarasota home, partner with a local agent like Sandra Osorio. She can advise you on how to stage, what upgrades to make, and how to create a listing. Sandra’s experience is also invaluable for considering buyer offers and closing steps. She can answer your questions quickly and accurately, leading to a smooth sale. If you’re ready to sell your Sarasota home, contact trusted local agent Sandra Osorio to guide you.
