Joleen Rose's Blog
There is a science to selling your home at the best price and within the shortest period of time, but it's not always an exact science!
Although you can't control market conditions, seasonal fluctuations, or the condition of your neighbors' property, you are still in the driver's seat when it comes to pricing, curb appeal, and the interior condition of your home.
Assuming there's no legal snags or major "red flags" about the condition or appearance or your home, the selling price you set may make the difference between a fast sale and house that lingers on the market for months on end. Many house hunters and (all) real estate agents are quite savvy about property values and real estate prices. If the selling price of your home is based on emotional factors or the amount of money you need to get back in order to purchase your next house, then there's a good chance you'll be pricing yourself out of the market. That's where your real estate agent comes in. They will help you set a realistic asking price that will favorably position it to similar properties in your neighborhood and community.
While everyone wants to get the maximum return on their real estate investment, there's usually a limited amount of "wiggle room" between the appraised value of your home and the amount of money a potential buyer would be willing to pay for it. Since it may be difficult for you, as a homeowner, to be objective when determining a realistic price for your home, it's often beneficial to have a comparative market analysis done by a real estate agent or professional appraiser.
Another reason for consulting with professionals involves the need to be objective about home improvements. Some home sellers have a difficult time accepting the fact that their asking price can't always reflect the full cost of recent home improvements. Home additions, updates, and recent remodeling work can have a positive impact on your home's asking price, but it's usually not a dollar-for-dollar return on investment.
If you're preparing to put your house on the market in the near future, it pays to do a little online research, have your property professionally appraised, and/or work with a real estate agent who will do a comparative analysis of your home's value. Other things you can do to increase the likelihood of getting your home sold quickly include a thorough top-to-bottom cleaning, applying a fresh coat of paint where needed, and "staging" your home to appeal to the widest variety of potential buyers. While that might include making some major changes to your home's décor, its landscaping, or even furniture arrangement, the rewards of a speedy sale often justify the effort and short-term inconvenience of getting your home ready for the close scrutiny of house hunters, home inspectors, and buyers' agents!
Navigating the home selling journey can be difficult, regardless of whether you're an experienced or first-time property seller. Fortunately, we're here to help you limit the possibility of encountering home selling problems that otherwise may prevent you from achieving your desired results.
Now, let's take a look at three tips to help you avoid risks during the home selling journey.
1. Learn About the Housing Market
What sets your residence apart from others on the real estate market? Ultimately, if you allocate time and resources to learn about the local real estate sector, you can promote your residence to the right groups of prospective buyers.
Take a look at the prices of homes that are similar to your own and are located in your city or town. With this real estate market information, you can narrow the price range for your residence.
Also, check out the prices of recently sold houses in your area and find out how long these homes were available before they were sold. This real estate market information will enable you to determine whether you're about to enter a buyer's or seller's market.
2. Establish an Aggressive Price for Your House
An aggressive initial home asking price can be a difference-maker during the home selling journey. Because if you have an aggressive asking price in place for your home, you could boost the likelihood of a fast house sale.
Conducting a home appraisal enables you to understand the value of your house based on its age, condition and the current state of the housing market. This appraisal is performed by a property expert, and it may help you establish an aggressive initial home asking price from day one of the home selling journey.
In addition, it may be beneficial to complete a home inspection. If a home inspector analyzes your residence both inside and out, he or she can help you identify potential problems. Then, you can perform various home upgrades to boost the value of your home.
3. Remain Flexible
The home selling journey typically varies from seller to seller. However, if you remain flexible as you proceed along this journey, you may be better equipped than other home sellers to identify and address problems before they escalate.
If you require extra assistance during the home selling journey, you may want to hire a real estate agent as well. This housing market professional can guide you along the home selling journey and take the guesswork out of listing your residence.
A real estate agent will help you add your residence to the housing market, promote your house to potential buyers and set up open house events and home showings. Plus, if you receive an offer to purchase your residence, a real estate agent will help you review this proposal and make an informed home selling decision.
Avoid problems throughout the home selling journey – use the aforementioned tips, and you can quickly detect and resolve any potential home selling issues.
As a home seller, it is important to do everything possible to generate interest in your residence. Otherwise, it may be tough for you to maximize your house sale earnings.
Ultimately, there are many things you can do to stir up interest in your house, such as:
1. Improve Your Home's Curb Appeal
Buyers may be more likely to schedule a showing to view a home that boasts amazing curb appeal versus other available houses. Fortunately, if you devote time and energy to revamp your house's exterior, you can ensure your home makes a positive first impression on buyers.
To upgrade your home's curb appeal, you should repair any cracked or chipped property siding. You also may want to remove debris from any home exterior walkways and ensure your front lawn is neat and tidy. That way, you can make it easy for buyers to fall in love with your residence as soon as they see it.
2. Remove Clutter
Clutter may make a house appear cramped. Luckily, if you remove clutter from your house, you can show off your residence's full potential to buyers.
If you have assorted personal belongings scattered across your home, you may want to put these items into a storage unit for the time being. This will help you keep your personal belongings safe until your residence sells. At the same time, removing these items from your house could help buyers envision what life may be like if they purchase your home.
3. Perform a Home Inspection
A home inspection is crucial for a seller, as it enables this individual to learn about any underlying property issues. Then, following an inspection, a seller can prioritize home repairs accordingly.
It generally won't take long for a home inspector to review your residence and provide you with his or her findings. Once you have a home inspection report at your disposal, you can determine exactly what you can do to improve your house and help it stand out to potential buyers.
For those who are searching for innovative ways to showcase a home to buyers, you may want to hire a real estate agent, too. This housing market professional can eliminate the guesswork commonly associated with selling a home.
Typically, a real estate agent works with a seller to ensure this individual's house selling dreams can come true. If a seller wants to get the best price for a home, for example, a real estate agent will craft a plan to help this individual achieve his or her desired results. Or, if a seller is unsure about how to promote a residence to buyers, a real estate agent will help this individual host home showings and open house events.
When it comes to selling a house, it usually is a good idea to prepare for the property selling journey. Thanks to the aforementioned tips, you can accentuate your home's features to prospective buyers. And as a result, you could speed up the house selling journey.
Let's face it – hosting an open house may seem like a major hassle. Cleaning a home and getting it ready for an open house could prove to be costly and time-consuming. Plus, despite your best efforts to prep for an open house, there are no guarantees that the event ultimately will help you sell your residence.
Although hosting an open house initially may seem difficult, the advantages of holding an open house generally outweigh the disadvantages. In fact, there are many reasons why you should host an open house, and these include:
1. You can gain a competitive edge.
The real estate market is fierce, especially for sellers who are competing against one another for buyers' attention. Fortunately, an open house can help you gain an advantage over the home selling competition, as it enables you to show off your residence to large groups of potential buyers in a short period of time.
When it comes to selling a home, it helps to explore any competitive advantage that you can get. And if you host an open house, you may boost your chances of differentiating your home from the competition and generating lots of interest in your residence.
2. You can make it easy for buyers to picture what life would be like if they purchase your home.
A detailed home listing can make a world of difference for buyers. Yet a home listing alone probably won't drive buyers to instantly submit an offer to purchase your residence. Thankfully, an open house provides buyers with a stress-free opportunity to check out your house and determine whether to proceed with an offer.
Of course, during an open house, buyers can picture what it would be like if they own your residence. And if buyers like what they see, it may be only a matter of time before you finalize a home sale following an open house.
3. You can increase the likelihood of a fast, profitable home sale.
As a seller, you should strive to promote your residence to as many potential buyers as possible. With an open house, you'll be able to do just that.
An open house makes it simple to showcase your residence to dozens of prospective buyers at the same time. Meanwhile, the event empowers buyers to learn about your residence and gain deep insights into the condition of your house. And if a buyer is impressed with your residence after an open house, the likelihood increases that an offer could come your way soon that leads to a fast, profitable home sale.
As you try to sell your house, you may want to hire a real estate agent too. A real estate agent knows the ins and outs of selling homes and can teach you everything you need to know about how to host a successful open house. Perhaps best of all, a real estate agent can help you achieve the optimal results at each stage of the home selling journey.
How a home seller engages buyers is key. If a seller allocates the necessary time and resources to connect with buyers, he or she can boost the likelihood of enjoying a successful property selling experience.
Now, let's take a look at three tips to help you engage buyers and speed up the house selling journey.
1. Create an Effective Home Listing
An effective home listing can make a world of difference for any seller, at any time. Because if you can provide buyers with plenty of details about your home in your listing, you could make it easy for buyers to understand your house's full potential.
Typically, it is a good idea to write a clear, concise and simple-to-understand home listing. You should include accurate information about your home in your listing, and you should avoid stretching the truth.
You also may want to incorporate high-resolution images of your home into your listing. That way, homebuyers will know what to expect when they view your house in-person.
2. Upgrade Your Home's Curb Appeal
If your house boasts amazing curb appeal, buyers may be instantly attracted to your residence. And as a result, you may receive many buyer requests to view your house as soon as your residence becomes available.
To improve your house's curb appeal, you should mow the lawn, trim the hedges and perform other lawn care tasks. In addition, you should fix any cracked or chipped home siding.
You may want to hire lawn care and home improvement professionals, too. With these professionals at your side, you can quickly bolster your house's curb appeal.
3. Remover Clutter
If your home is filled with antiques, paintings and various knick-knacks, you may want to remove these items for the time being. In fact, if you have a clutter-free residence, buyers may fall in love with your house as soon as they walk through the front door.
Oftentimes, it helps to rent a storage unit before you list your home. If you have a storage unit, you can keep assorted personal belongings safe while you try to sell your house.
For those who want to eliminate excess items, you can list these items online or host a yard sale. You may want to consider donating any unwanted items to a charity or giving them to family members or friends as well.
Lastly, as you get set to add your house to the real estate market, it may be beneficial to hire a real estate agent. This housing market professional knows what it takes to engage buyers. Thus, if you are searching for help as you craft a home listing, a real estate agent is happy to assist you. On the other hand, if you have any concerns or questions as you navigate the home selling journey, a real estate agent can instantly respond to them.
Engage buyers throughout the home selling journey – use the aforementioned tips, and you could reap the benefits of a fast, profitable house selling experience.