Marianne Belanger'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!
Selling a home may seem exceedingly difficult, particularly for those who are adding a residence to the housing market for the first time. Fortunately, there are many quick, easy ways to streamline the home selling process.
Now, let's take a look at three tips that you can use to become an expert home seller.
1. Examine Housing Market Trends
The current state of the real estate market may play an important role in your ability to maximize the value of your residence.
For example, a buyer's market may feature a shortage of property buyers. When this happens, home sellers may compete against one another for property buyers' attention more than ever before, leading to below-average home prices.
It is essential to consider how a seller's market works too.
In a seller's market, there is a shortage of home sellers. This means you may be in a great position to optimize the value of your residence, particularly if you have maintained a high-quality property. In fact, you may wind up receiving multiple offers on your home as soon as it reaches a seller's market.
To find out whether you're operating in a buyer's or seller's market, you'll need to study the real estate sector closely.
Look at the prices of recently sold homes and find out how long these properties were available before they were purchased. Also, you should check out the prices of comparable homes that are currently available to find out how your house stacks up against the competition.
2. Consider the Homebuyer's Perspective
How will a homebuyer feel when he or she sees your residence for the first time? Ultimately, the first impression may dictate whether a homebuyer moves forward with your home or decides to pursue other properties.
Allocate plenty of time and resources to enhance your home's curb appeal – you'll be glad you did. Completing home maintenance tasks like mowing the lawn and clearing exterior walkways may help your house stand out in a competitive real estate landscape.
Don't forget to declutter your home's interior as well. By doing so, you can make it simple for homebuyers to imagine what life would be like if they purchase your house.
3. Consult with a Real Estate Agent
Becoming an expert home seller rarely, if ever, happens overnight. Instead, you may need additional help along the way.
Lucky for you, real estate agents are available to teach you about the intricacies of selling a home.
A real estate agent is happy to respond to your home selling concerns and queries at any time. He or she can offer guidance throughout the home selling journey and ensure you can get the best results possible.
When it comes to selling your home, it is important to do everything you can to optimize the value of your property. And with extra support from a real estate agent, you should have no trouble stirring up plenty of interest in your residence.
Use these tips, and you can become an expert home seller in no time at all.
No one should be forced to deal with a long, complicated home selling journey. Fortunately, there are many things a seller can do to navigate the property selling journey like a pro.
Now, let's take a look at three tips to help you enjoy a quick, profitable home selling experience.
1. Analyze the Housing Market
You may have entered the housing market in the hopes of enjoying a seamless property selling experience. Yet the real estate market offers no guarantees. But if you analyze the housing sector closely, you can gain the insights you need to price your home appropriately based on the present market's conditions.
Take a look at the prices of available homes in your city or town that are similar to your own. This housing market data can help you see how your residence stacks up against the competition. It also may help you determine how to price your residence so you can ensure it garners lots of attention from potential buyers.
Furthermore, don't forget to assess the prices of recently sold houses in your area, as well as how long these residences were available before they sold. If homes are selling quickly, a seller's market may be in place. Or, if homes linger on the real estate market for many weeks or months, the current housing sector may favor sellers.
2. Perform Home Upgrades
For those who want to speed up the home selling process, improving your house's curb appeal is ideal. Because if your home boasts amazing curb appeal, you can make it easy for buyers to fall in love with your house.
To bolster your residence's curb appeal, you should mow the lawn, repair any damaged siding and perform other home exterior improvements. That way, your house is sure to impress buyers as soon as they see it for the first time.
In addition, allocate time and resources to transform your home's interior from drab to fab. If each room of your home dazzles, buyers will have no trouble envisioning what life may be like if they purchase your house.
3. Hire a Real Estate Agent
Generally, it helps to hire a real estate agent if you are selling your home. And if you have a real estate agent at your side, you can quickly and effortlessly promote your residence to the right groups of buyers.
A real estate agent will offer recommendations to help you upgrade your residence's interior and exterior, set up home showings and open house events and much more. Plus, if you are ever unsure about how to proceed along the property selling journey, he or she is happy to offer home selling advice.
For those who prepare for the home selling journey, it may not take long to sell a house. If you take advantage of the aforementioned tips, you can plan ahead for each stage of the property selling journey. As such, you will be able to navigate this journey like a pro.
Selling a house the second time around may prove to be much easier than your initial home selling experience. In fact, a veteran home seller can learn a lot from his or her past home selling experience, including:
1. How to Establish a Competitive Initial Home Asking Price
Setting a competitive initial home asking price is paramount, regardless of a home seller's experience. If a seller establishes a competitive initial asking price from the get-go, he or she can increase the likelihood of stirring up plenty of interest in a house. Conversely, a seller who sets an initial asking price that is too high or too low may struggle to achieve the optimal home selling results.
Think about how you priced the home that you most recently sold. This experience may help you determine how you'll price your current house, as well as enable you to avoid potential pricing mistakes along the way.
Furthermore, it usually helps to look at the prices of comparable houses in your city or town. If you assess this housing market data, you can see how your house stacks up against the competition and narrow the price range for your residence.
2. How to Promote a House to the Right Groups of Buyers
If you previously struggled to showcase your house to buyers, you can learn from your past experience and avoid making the same mistakes once again.
Ultimately, a home seller should allocate time and resources to enhance the curb appeal of his or her home. If a house features a stunning exterior, it may generate lots of interest from buyers.
It often helps to maintain a clean home interior as well. If you keep your home neat, tidy and clutter-free, buyers should have no trouble envisioning what life might be like if they purchase your house.
3. How to Hire the Right Real Estate Agent
Conduct an in-depth search for the right real estate agent – you'll be glad you did. If you meet with a variety of real estate agents, you can find a housing market professional who can help you achieve your desired home selling results.
Don't forget to request client referrals from a real estate agent. Because if you can learn about past clients' experiences with a real estate agent, you can make an informed choice about whether to hire this real estate agent to guide you along the home selling journey.
Ready to add another house to the real estate market? Use your home selling experience to your advantage, and you can boost your chances of enjoying a profitable home selling journey.
You might want to believe that the home selling journey will be fast and simple, but high-pressure situations may arise that cause you to panic. However, there is no need to let high-pressure home selling situations get the best of you. Because if you know how to handle these situations, you can boost the likelihood of enjoying a quick, profitable house selling experience.
Now, let's take a look at three tips to help you handle high-pressure home selling situations.
1. Use Data
A high-pressure situation may lead you to make a decision that causes you to miss out on an opportunity to achieve your desired home selling results. Fortunately, if you take a step back from a high-pressure situation, you can assess data to make the best-possible decision.
Typically, a data-driven approach to selling a house is ideal. If you analyze home prices in your city or town and other housing market data, you can determine if a buyer's offer to purchase is "fair" based on the current state of the real estate sector.
2. Analyze the Buyer's Perspective
There are two sides to every situation, and if you review the buyer's perspective, you may be able to successfully negotiate with this individual. And as a result, you and a buyer may be able to come to terms on a home sale agreement that meets the needs of both sides.
Although you may be tempted to walk away from a home sale if a buyer makes exorbitant demands, you should try to negotiate with this individual. If you assess the buyer's perspective, you may be able to gain unique insights into the property selling journey. Then, you can use these insights to negotiate with a buyer and boost the likelihood of finding common ground with this individual.
3. Consult with a Real Estate Agent
Let's face it – selling a home can be stressful and exhausting, regardless of whether you are a first-time or experienced property seller. Lucky for you, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you stay calm, cool and collected in high-pressure situations.
Oftentimes, a real estate agent will work with you to craft a custom house selling strategy. He or she next will put this plan into action and collaborate with you throughout the home selling journey. By doing so, you can receive expert support as you navigate the home selling journey and achieve the optimal results as quickly as possible.
Let's not forget about the negotiation assistance that a real estate agent can provide, either. A real estate agent is happy to negotiate with a homebuyer on your behalf. Thus, he or she can help you get the best price for your house.
As you get set to navigate the home selling journey, it helps to understand what to expect after you list your residence. Thanks to the aforementioned tips, you can remain patient in high-pressure home selling situations and work diligently to maximize your house sale earnings.