Updated on March 18, 2020
Now is a good time to be selling a house in Oregon! According to Zillow Research, property values in the Beaver State rose 2.54% in 2019, and are projected to rise a further 4.65% over the next year.
Of course, even the best Oregon 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 Oregon!
1. Finding a Oregon 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 Oregon 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 Oregon 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 $360,141 home — the median home value in Oregon, according to Zillow — that's a premium of $118,847. In other words, hiring an agent is well worth the investment.
2. Deciding when to sell
Waiting for the right time to sell your home will make a difference to the attention a listing receives and the value of offers. It's important to take an expert's advice about when to enter the market so your property makes the biggest impact.
Best time to sell a house across the U.S.
Source: 2019 Redfin Data Center
Best time to sell a house in Oregon
|Best Month to Sell for Speed in Oregon||June||20 days on market||11 days faster than average|
|Best Month to Sell for Price in Oregon||August||$361,000 median sale price||2% more than average|
Here are the optimal times to list a home in Oregon:
- July to August introduce the newest listings in major Oregon cities.
- March to May are the most competitive months for potential home buyers.
- July experiences another increase in buyers as families rush to find a property before the school year returns.
Listing during the busy spring season usually brings more offers, but an influx in inventory gives buyers more opportunities if your counter is unattractive.
Learn More: The Best Time to Sell a Home in Oregon
3. Pricing your home
When choosing the right price for your listing, a Comparative Market Analysis is a crucial resource. A Partner Agent in our network will perform a CMA for no cost to determine how your home's value stacks up to similar structures in the area.
A professional can precisely measure several factors that impact your property's asking price.
Overpricing your home may cause potential buyers to turn away before making an offer. Data from the National Association of Realtors reveals, before reaching out to an agent, 51% of buyers found a home to pursue online.
Due to this quick form of research, it's imperative your listing makes a substantial first impression.
4. Preparing, marketing, and showing your home
Since many buyers begin a house hunt online, painting an attractive digital persona of your property is necessary, but make sure it's just as presentable in person.
Before you list your home, it's important to make it appealing to buyers looking for a move-in ready property. Major repairs like window damage, leaking pipes, and weakened roofs should be completed or you can expect to receive low offers that reflect the cost of renovations.
Consider hiring a professional cleaning service to ensure your home is in peak condition cosmetically. Inside, you should touch up paint, neutralize colors, and depersonalize the space.
Curb appeal is especially important as it will be the first thing a buyer notices when searching through listings and if they are inspired to see it in person. Make your entrance more inviting with a new door, shutters, and a fresh landscaping design.
Learn More: The Best Paint Colors For Selling A House
In the rainy state of Oregon, buyers will be looking for homes with an updated roof, waterproof basements, and a sound foundation. To speak to the interests of home buyers in your market, these quality features should be displayed in your description and online photographs.
Another advantage of hiring a Clever Partner Agent is being showcased on a multiple listing service. An MLS is essentially a resource professional realtors use to discover listings their clients will be interested in. Once your property has been openly advertised on social media, an MLS, and home buying websites, you should decide how to show your house.
Private showings with a realtor offer a more intimate and convenient experience. Installing a lockbox on your property gives your professional the opportunity to work with the schedule of potential buyers.
In some cases, an open house can be more beneficial. Inviting the public for a showing gives buyers a chance to view the property and mingle with shoppers to gauge the interest in a home and determine how quickly they should make an offer.
5. Fielding offers and negotiations
Having an agent on your side is crucial once offers begin rolling in. A home buyer will present a deal which typically includes:
- Sales price and payment terms;
- Amount of earnest money and time limit to accept or counter; and
- Desired closing date and provisions regarding inspections.
Once an initial offer is made, you should decide if the proposal is acceptable. If not, it's important to disclose your dissatisfaction with your agent, and use their negotiation skills to counter.
After each party has agreed on the details, a purchase agreement should be drafted. This legal document protects home sellers by ensuring buyers meet their financial commitments before the chosen close date.
It will also hold sellers to obligations regarding repairs and list a deadline when either party may back out of the sale without repercussions.
Learn More: Real Estate Counter Offer Etiquette
6. Appraisal and inspections
Before closing a deal, a home buyer will hire an appraiser or inspector to analyze the property. This cost is often their responsibility so it's typical to wait until after a seller has officially accepted an offer.
An appraiser is efficient in valuing a home by determining sales of similar properties, the local market, and the overall integrity of a structure. They are important to protect a lender when a purchase is financed.
Most offers are contingent on a home passing inspection from a licensed inspector. An expert will analyze the property for degrading conditions, integrity of electrical systems and plumbing, and ensuring a buyer won't encounter unexpected repairs.
It's likely that a proposal will be altered after a visit from these professionals, as they may discover imperfections that require immediate attention. It isn't uncommon for Oregon home buyers to request repairs caused by exposure to heavy rainfall. Make sure your roof, guttering system, and the foundation are in good condition before listing.
7. Paperwork and required Oregon disclosures
Oregon has laws in place to protect buyers from purchasing home with defects that are known to a seller. If you fail to disclose pertinent information, you may find yourself in a legal battle for damages or to rescind the sale.
Here are a few circumstances you must disclose to a buyer.
- Structural information including a leaking roof, unpermitted additions, and electrical or plumbing defects;
- Common interests like homeowners' association fees, and shared common areas; and
- Title issues like easements and liens.
For the first time home seller, these mandates may be confusing. To avoid legal trouble, an experienced agent can guide you through the laws specific to your state.
Learn More: Disclosure Requirements in Oregon
8. The closing process
The final step of the home selling process is closing, which in Oregon, is typically 30-40 days after an agreement is official.
Before sitting down with an escrow agent or title company, home buyers have the opportunity to perform a final walkthrough of the property. Once they agree that required repairs have been completed and a home's condition is as promised, both the seller and buyer will meet together with a closing agent to complete the process.
There are numerous costs associated with closing. In Oregon, most fall on the shoulders of a home buyer. On average, the fees are between 2% and 5% of the purchase price and cover appraisals, home inspections, property surveys, and recording fees to the city.
Sellers are responsible for the commission of their listing agent. By working with a flat fee agent from the Clever Partner Network, this fee is only $3,000 or 1% of a home if it's sold for over $350,000.
Learn More: How Much Are Closing Costs for the Seller?
Next steps: Sell your Oregon home and save thousands
Whether you're looking to list your Oregon 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 Oregon
- Discount real estate agents in Oregon
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- Flat-fee MLS companies in Oregon
- iBuyers in Oregon