David Winter DMS's Blog
Selling a home may prove to be a long, arduous process. However, if you act as a reasonable home seller, you can identify home selling challenges and overcome such problems without delay.
Now, let's take a look at three tips that you can use to become a reasonable home seller.
1. Learn About the Housing Market
Real estate is complex, particularly for home sellers. Fortunately, many housing market resources are available to help you become a real estate expert.
For example, any home seller can perform an online search to evaluate the housing market in any city or town. Then, a home seller can use this real estate data to analyze the prices of houses that are similar to his or her own and price a residence appropriately.
Home sellers also should look at the prices of recently sold houses in nearby areas. That way, a home seller can find out whether he or she is preparing to enter a seller's or buyer's market and plan accordingly.
2. Try Not to Get Too Emotional
Let's face it – any home selling journey likely includes plenty of ups and downs. But a home seller who understands the best- and worst-case home selling scenarios may be better equipped than others to stay calm, cool and collected, even in the most challenging situations.
Although a home seller may expect his or her home to sell quickly, it is important to set realistic expectations before you list a residence. This will enable you to avoid potential pitfalls that otherwise can prevent you from achieving your home selling goals.
For example, a home seller who receives a home appraisal will have a good idea about the true value of his or her house. And if the home seller receives a home offer that falls well below the appraisal amount, he or she won't feel disappointed. Instead, this home seller should have no trouble politely declining or countering the proposal.
3. Consult with a Real Estate Agent
If you're unsure about how to price your home or promote your house to the right groups of homebuyers, it often pays to get expert help. Lucky for you, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you make informed home selling decisions.
A real estate agent possesses comprehensive housing market expertise and is happy to share his or her home selling insights with you. This means if you ever have questions about what to include in a home listing, your real estate agent can help you out. Or, if you are uncertain about whether to upgrade your house's interior or exterior, your real estate agent is available to provide honest, unbiased home improvement recommendations.
Becoming a reasonable home seller can make a world of difference in any housing market, at any time. Take advantage of the aforementioned tips, and you can quickly and effortlessly navigate the home selling journey.
Putting your home up for sale can elicit a myriad of emotions from you and your spouse -- everything from excitement and anticipation to fear and sadness. It's only natural to feel a mixture of emotions, especially if your home represents years of memories, countless milestones, and stages of family growth.
A cautionary note to keep in mind is that it's easy to get caught up in emotion-based decisions that could derail your chances for making a fast sale.
A primary example would be pricing your home higher than it might actually be worth. Despite the fact that you've experienced great family memories there and spent tens of thousands of dollars to maintain, upgrade, and beautify your home, those factors usually do not translate into a sale price that exceeds the property's appraised value. Your perspective, which may be based on subjective criteria, such as all the "blood, sweat, and tears" you put into your house -- not to mention the "TLC" that went into it -- does not hold water in the minds of would-be buyers.
What Does Determine a Home's Value?
The unvarnished truth is that the value of your home is mostly based on prevailing market conditions, the price at which comparable homes in your neighborhood recently sold, and what the market will bear. Effectively setting a price that will bring in the most money without driving away qualified and otherwise-interested buyers is a delicate balance. The homeowner rarely has the objectivity or the specialized knowledge to accurately set the right price. That's where real estate agents comes in, and why it's advisable to sell your home through a licensed agent, rather than attempting a "For Sale By Owner" approach.
Minimizing Bumps in the Road
A good real estate agent will work on your behalf to effectively market your home, collaborate with other agents in the area to schedule showings and spread the word about your listing, and advise you on ways to improve both the curb appeal of your home and its interior appearance. Your agent can also provide indispensable negotiating help, as well as guidance about seller disclosure requirements and other government regulations.
The bottom line is that real estate agents are well-versed in the intricate process of listing, marketing, and selling residential property. Since there are a lot of forms to sign, deadlines to meet, agreements to reach, and formalities to handle, those are among the many sound reasons to enlist the help of a professional.
Although the process of selling a residential property often involves delays, setbacks, and obstacles, most real estate agents are quite adept at solving problems and getting past difficulties. In addition to the marketing, networking, and strategizing they're doing on your behalf, a good agent can also be counted on to provide you with regular progress reports and boost your spirits when you're feeling discouraged.
Your home represents a one-of-a-kind property, and as such, you'll want to do everything you can to promote it to your friends, family members and, of course, your neighbors.
Ultimately, your neighbors can play a significant role in generating interest in your home. And if you incorporate your neighbors into the home selling process, you may be able to boost your chances of a quick sale and maximize your chances of optimizing the value of your house.
So what does it take to work with your neighbors throughout the home selling process? Here are three tips to help you do just that.
1. Transform an Open House into a Block Party.
If you host an open house, invite your neighbors – you'll be glad you did! By doing so, homebuyers can learn about your house as well as experience what it's like to live in your neighborhood.
Your neighbors may be able to provide insights into your neighborhood that homebuyers might struggle to find elsewhere. And if you invite your neighbors to an open house, you should have no trouble generating plenty of interest in your house in no time at all.
2. Share Your Home Listing with Your Neighbors.
As soon as your home listing becomes available, be sure to share it with your neighbors. This will enable you to extend your home listing's reach and boost your chances of connecting with a broad array of interested homebuyers.
Also, encourage your neighbors to provide feedback about your home listing. A neighbor's feedback could make or break your home listing, and any insights that a neighbor can provide may help you put your home listing over the top in the eyes of homebuyers.
3. Collaborate with an Experienced Real Estate Agent.
Employing a friendly, experienced real estate agent is paramount, regardless of whether you're selling your residence in a buyers' or sellers' market. With a top-notch real estate agent at your disposal, you'll be able to bolster your chances of connecting with your neighbors and highlighting your residence to the right homebuyers at the right time consistently.
Your real estate agent takes pride in his or her work, and as a result, will be happy to provide tips to help you incorporate your neighbors into the home selling process. In fact, your real estate agent may be able to introduce you to neighbors and help you foster positive relationships with them that may allow you to accelerate the home selling process.
Perhaps best of all, your real estate agent is ready to respond to any concerns or queries during each stage of the home selling process. That way, if you ever have questions about your home listing or homebuyers' offers for your house, your real estate agent will be able to offer expert guidance to help you make the best possible decisions.
Spend some time getting to know your neighbors and your real estate agent. This may enable you to improve your chances of selling your home in any real estate market, at any time.