The process of selling a home can be intimidating, especially if you’ve never done it before. Whether you’re a first-time seller or an experienced pro, it is helpful to keep these tips in mind when selling a home.
4 Things to Keep in Mind When Selling a Home
1. Research your local housing market
If you have lived in your current home for a few years, you will likely have a general idea of housing prices in your neighborhood. However, it is still a good idea to do your research in the local housing market online or through a real estate agent. Realtors can provide you with outside counsel and expert knowledge about what kinds of prices people are truly selling their homes for.
2. Set a reasonable asking price
It’s extremely important to set a reasonable price for your home from the start. It can be difficult to emotionally detach yourself from a home you lived in for decades, and put a lot of time and money into. That’s why it’s important to get the opinion of a third party who is unattached to the property.
Consider what kind of market you are in when setting your asking price. If it is a seller’s market, the prices are being driven up by the demand for homes. You can often price your house more aggressively as long as you stay within reasonable price limits. If it is a buyer’s market (where the buyers can be more selective) pricing should be at or slightly below market value to attract an offer.
3. Interview real estate agents and associates
Do your homework before choosing a real estate agent. Interview a couple potential realtors to make sure you are choosing the best professional you can find. It can be frustrating to work with an agent who just wants your house to be sold and to move onto the next sale, so be sure to find an agent who cares enough to make sure you get the best deal you possibly can. Keep in mind the cheapest commission table does not always mean the best deal! Look at the sales record of the agents and the testimonials from their past clients. Make sure you ask what their “marketing strategy” Do they even have a plan other than sticking a sign in the ground and adding it to the MRIS. What is their plan of attack? Remember Trulia and Zillowlishus are not boots on the ground. They do not know what upgrades you have done to your home, they do not distinguish between a short sale and a traditional resale! Talk about winging it on the value of YOUR home! You need an educated specialist that does daily business in your community!
4. Don’t be discouraged if your offer doesn’t get any bites right away
Selling a home can be a long process with a lot of paperwork, but it can be made easy with the help of an experienced agent. They can help you price your home correctly based on how motivated you are and how motivated the buyers are. Unfortunately, it is possible you will have to drop your asking price a little lower than you would have liked to. Be patient. If your home is market ready and not over priced the right buyer will come into your world. This is where targeted marketing comes in with the correct agent that recognises the correct demographic to reach out to bring through your door!
If you are looking to sell your home, would like to buy a home, or need advice about the home selling process, please contact us. We would be honored to assist you in any way we can!