Updated on March 17, 2020
Now is a good time to be selling a house in Mississippi! According to Zillow Research, property values in the Magnolia State rose 3.74% in 2019, and are projected to rise a further 4.07% over the next year.
Of course, even the best Mississippi properties will struggle to sell if you don't price the home properly, do a poor job of marketing it, or don't know how to handle the negotiations.
Read on to learn the eight steps to successfully selling your home in Mississippi!
1. Finding a Mississippi realtor
Selling a home isn't easy. It's a high-stakes, complex transaction and requires a considerable amount of time and expertise to get a good outcome. If you're looking to sell your Mississippi home for the best price — and minimize stress along the way — you need to find a top-rated real estate agent in your area.
The best Mississippi listing agents know exactly what local buyers want and how to reach them. They'll offer expert advice, guidance, and support every step of the way, from the initial listing all the way through closing.
In fact, sellers who work with real estate agents net 33% more, on average, than those who list on their own. For a $124,498 home — the median home value in Mississippi, according to Zillow — that's a premium of $41,084. In other words, hiring an agent is well worth the investment.
2. Deciding when to sell
Real estate markets change seasonally. While individual markets have their own trends and cycles, knowing when peak selling times generally are will help you decide when to list.
Your selling goals will also determine when to list your home. If you want a quick sale, you may need to put your house on the market at a different time of year than if you wanted a higher price.
Best time to sell a house across the U.S.
Source: 2019 Redfin Data Center
Best time to sell a house in Mississippi
|Best Month to Sell for Speed in Mississippi||June||15 days on market||31 days faster than average|
|Best Month to Sell for Price in Mississippi||July||$261,000 median sale price||32% more than average|
If you're shooting for the fastest sale possible, listing in June is your best option. Homes listed in this month spend 15 days on market — significantly quicker than the Mississippi average of 46 days on market.
To get the highest sales price, put your house on the market in July. The median sale price of homes listed then is $261,000, which is almost $63,000 more than average.
Learn More: The Best Time to Sell a Home in Mississippi
3. Pricing your home
Pricing your home with realistic expectations is essential to selling your home quickly and for the best return. But it's not easy to determine what the listing price should be.
Your Clever Partner Agent has up-to-the-minute statistics and market trends in Mississippi. That means he or she will know how much homes in a particular neighborhood are selling for at any given time (and how long they stay on the market).
A good realtor will be able to help you determine what the optimal selling price for your home should be. And don't be surprised if you sell for above or near the asking price. Our Partner Agents are professionals who buy and sell homes in Mississippi on a daily basis and know what buyers are looking for.
4. Preparing, marketing, and showing your home
When it comes to preparing and marketing your home it's essential that you work with a professional realtor. They understand home buyers want more than just a structure to live in. They want to move into a community.
When preparing your listing, a professional real estate agent will be able to highlight features in your neighborhood that buyers are looking for. These may include the quality of schools, and access to restaurants and shops, depending on the pool of buyers at any given time. Highlighting amenities in the community offers buyers more incentives to purchase your home.
Learn More: The Best Paint Colors For Selling A House
A Clever Partner Agent will also help you with staging, which can add thousands of dollars to the purchase price. They'll also make sure there is an active campaign to sell your home through the use of impactful photos, videos, and social media. And a professional realtor can discuss what repairs will be needed to sell the property for a premium price, and what repairs you can do without.
A Partner Agent will also hold open houses when it is convenient for you. Weekends work best because that's when most people are looking for homes. Private viewings are increasingly less common but can still be effective.
5. Fielding offers and negotiations
Mississippi's median home value is $128,700. It went up by a whopping 9.3% in 2018 over 2017. Unfortunately, not all home sellers would have been able to maximize their profits in such a rapidly changing market.
Clever Partner Agents are tied to their communities and know the precise market conditions across Mississippi at any given time. They know how to capitalize on a hot market. That's an important skill because the state's real estate boom is not over. The market is still growing and median home values continue to rise by the month.
A professional realtor will be able to help you list your home for the optimal price based on the latest market statistics. They will guide you through the offer and counter-offer stage using the latest data. Once you and a buyer come to an agreement, they'll guide you through the paperwork to finalize the agreement.
Learn More: Real Estate Counter Offer Etiquette
6. Appraisal and inspections
When you're selling your home, the home buyer will likely have an appraisal done. This is typically required by lenders. Your realtor will also be able to help you when it comes to a home inspection.
Usually, a home buyer will arrange an inspection, but home sellers may also want to hire their own inspector. That way they will know what repairs or defects the sale property has. This will be useful information when it comes to the negotiation stage. If you know what the problems of a home are, you will be ready for requests by the home buyer for repairs or a reduction in the sale price.
7. Paperwork and required Mississippi disclosures
Mississippi requires a disclosure statement as a condition of real estate transactions. The law requires that the seller provide a written statement about their knowledge of any significant defects to the property. These may include significant damage to the foundation, roof, or major appliances.
Your realtor will walk you through what you must include in the disclosure statement and what you don't need to tell the buyer.
In addition to disclosures, there are several other documents you'll need to prepare or sign. Always consult your agent or attorney before signing or filing paperwork. A licensed professional should walk you through all the paperwork and ensure you have everything you need for your situation.
Learn More: Disclosure Requirements in Mississippi
8. The closing process
The home selling process can be confusing. But a good realtor will help you through all of the steps and documentation needed to close the deal.
Generally, the process works like this. Once an offer is made and accepted by you, the seller, you will sign a contract. In Mississippi, an escrow agent, attorney, or broker will be paid a deposit on the property.
The buyer can then elect to perform an inspection. This may be stipulated in the contract of sale. Mississippi also has a wood infestation inspection that is typically requested by lenders at closing.
The seller and buyer can than work out any differences based on inspections or the terms of the contract. It's always best to work with a professional real estate agent throughout the home selling process. Clever Partner Agents are experts and you can be confident you will get the most from the sale of your property with as little stress and effort on your part.
Learn More: How Much Are Closing Costs for the Seller?
Next steps: Sell your Mississippi home and save thousands
Whether you're looking to list your Mississippi home immediately or 6-12 months from now, it's never too early to start looking for an agent, getting advice, and making a plan.
Clever is here to help guide you through the home selling process — and save money along the way! In fact, homeowners who list with us save an average of $9,000 on home selling costs.
Top ways to sell your home in Mississippi
- Discount real estate agents in Mississippi
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