Selling
A Home

There are a lot of different reasons an individual decides to sell their home. Some need a larger home to accommodate their family, while others are downsizing. Some are relocating because of new work requirements, with a necessity to move fairly quickly to meet their work demands and schedules. Financial difficulties have left numerous consumers with no other choice than to sell their homes so they can purchase something more affordable.

All that is required for a sold sign to be placed in the front yard in a relatively short period of time is the combination of a good real estate professional and a savvy approach. We put together the following guide to explain the typical process when selling a home or condo in Miami.

Transaction flow chart showing typical steps in the selling process.
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Before You Decide To Sell

  1. Why do you need to sell? (job relocation, need more or less space, school boundary)
  2. Do you need to sell quickly or can you afford to wait?
  3. Do you need to sell your current home to finance the new purchase?

  4. Does the home need some work before listing?
  5. Do you have a budget to make minor repairs that can increase the potential market value of your home?

Typical Sales
Process

This guide explains the typical steps to sell a home, and contains important information about the process. Coupled with the right real estate agent for guidance, this approach can help to sell your home at the best price, with the least hassle.

1

Having the Right Listing Agent Matters

When you are working with a specialist in the area, you have the upper hand during the entire selling process. This local knowledge will provide you with trustworthy insights into pricing trends for properties, the current market, and to make certain your representation during the negotiation stage is both solid and reliable.

2

Getting Ready to Sell Your Home

There are several different factors you should consider before deciding how much to ask for your home. This includes the general condition of your home, any major upgrades or renovations necessary, and how much inventory is currently on the market at the time.

3

Listing Your Home

A precise balancing act is necessary to ensure the correct listing price for your home. If the price is too high, your home can remain on the market for months, years, or simply not sell. If the price is too low, you may be missing out on the opportunity for a lucrative outcome.

4

Marketing Your Property

In order to maximize the number of potentially interested buyers, offers and showings, a wide variety of advertising must be used in a coordinated manner. Experienced listing agents will have a lot of options to maximize the exposure of your home.

5

Scheduling Your Open Houses and Showings

It is critical you keep your schedule as flexible as you can during this time. Yes, your comfort and privacy are both important. Despite this, not all buyers are able to be flexible regarding when showing your home is convenient for your needs.

You do not want to lose a potential buyer due to inflexibility. It is just as important to ensure your home is de-cluttered and clean to make certain it is ready to show during any reasonable period of time.

6

Accepting An Offer

Once you have received an offer, there are four choices. You can accept the offer exactly as written. This means you are ratifying the offer, or are in a contract for selling your property. You can make a counteroffer by negotiating any terms including the purchase price, contingency periods and the escrow length. A back-up position can be offered if another offer has already been accepted. The buyer is then able to ratify their offer if your first offers falls through or cancels. Your final option is rejecting the offer.

7

The Inspection and Escrow Period

When you have accepted the offer and have been provided with an executed contract, the inspection and escrow phase begins. This is when the deposit of the buyer is placed in an escrow account, all disclosures and documents including the sale contract are analyzed, and the buyer has shown good-faith.

During this time your home is removed from the market, and the buyer is expected to purchase your home as long as no serious issues with your property are discovered when due diligence is performed by the buyer during inspections.

8

Your Final Move

During this stage, you need to be completely moved out of your home. Everything needs to be thoroughly cleaned, with all repairs you have agreed to complete. Your home needs to be maintained until the final-walk through of your property is complete. This includes your landscaping, pool maintenance and leaving your utilities on. A smooth final walk-through means there should not be any delay regarding your closing.

9

Final Walk-Through

The final walk-through is the last chance the buyer has to examine your home prior to taking possession. The scheduling should be between 24 and 48 hours before closing, or as close as possible. The walk-through ensures the buyer there have been no changes to the condition of your home since the last visit. This is also a confirmation all repairs have been done, and you did not cause any damage when you moved out.

10

Closing

The last step in any real estate transaction is the closing. On this date, you will sign over your deed to the new owner. Ownership is officially transferred, and the buyer receives the keys to the home. The balance is paid in full by either the bank or the buyer including title search services, mortgage and homeowner’s insurance, prorated property taxes, title insurance, and when applicable, condo or HOA fees. During your closing, the buyer will pay the closing costs which vary per transaction.

11

Refer My Services to Your Friends & Family

As we get to know each other, you will know that referrals from great clients like you are a key part of my business. By the time we get to this stage, I will do everything possible to make sure you have a smooth and successful transaction and have earned your trust to recommend me to your friends and family looking to buy or sell a property in Miami.

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Miami
Sellers
Guide

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Download Our Seller Guide

Marketing Your
Property

Working with our in-house marketing and advertising agency, I will target the right audience across the most effective channels through cohesive branding — all to elevate the style and story of your home.

Your property deserves an advertising strategy as unique as it is. Employing print, digital, and social channels, we’ll effectively reach your prospective buyer base.

Split image of Arte Residences exterior on the top and a large wooden terrace with an ocean view on the bottom half.

Pre-Marketing Your Home

Drive buyer interest and buzz with Compass Coming Soon, which affords prospective buyers a glimpse of your home before it officially comes on the market.

Create Early Demand

Listing your property first on Compass Coming Soon can build anticipation among potential buyers, drive up its value, and shorten the sales timeline.

Drive Buyer and Seller Excitement

By creating visibility for your home early on, you can start engaging your network. 2.4x more potential buyers will attend the open house of a Compass Coming Soon listing.

Photography

Proponents of powerful imagery, Compass invests in visuals editors, creative producers, and the industry’s most respected photographers to capture your home’s finest selling points.

Sourcing Your Buyer

The next owner of your home could be searching for properties anywhere. That’s why I’ll pair predictive data with a multifaceted marketing plan — to ensure your listing is seen by each and every prospect.

Get More Exposure

We invest heavily in Google search advertising for top placement and reach the right buyer for your property. We target prospective buyers precisely when they’re searching to help maximize traffic.

Networking Capabilities

Aided by state-of-the-art Compass technology, I’m strategically connected to the market’s entire brokerage community.

Exterior rendering of Una Residences looking up at the tower.
Split image of Arte Residences exterior on the top and a large wooden terrace with an ocean view on the bottom half.

Intelligent Digital Marketing

At the forefront of modern marketing, Compass takes a multi-pronged approach to the digital promotion of your property. We attract prospective buyers to Compass.com, then leverage their site activity and saved preferences to position your listing in front of the right audience.

Email Marketing

Communication plays a critical role in the swift and successful sale of your home. Compass pairs well-designed email design with data-driven targeting to ensure your listing arrives in precisely the right hands.

Social Media

We engage brokers and buyers every day across five dynamic platforms. With this suite of promotional opportunities, your home will be spotlighted in a real-time, relatable, and quantifiable way.

Curious how Compass Concierge
can transform your sale?

See what a difference this program makes for yourself right here.

Client Reviews

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    Copyright © 2020. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements including but not limited to square footage, room count, number of bedrooms, or designated school, and should be independently verified and expressly disclaim any liability in connection therewith. While, information from this website including market statistic data is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All material presented herein is intended for information purposes only. No financial or legal advice provided. Equal Housing Opportunity.