Many homeowners want a stress-free sale. They simply want to list their house, quickly find qualified buyers, and then hand over the keys. However, selling a house is not an easy task. There are many moving parts that you can control, and others that you cannot. Some things you can’t control include where the house is which affects how long it will stay on the market and how much you can list it for. If you are looking at selling property in Cabo San Lucas when inventory is high, for example, you will not sell as fast as you want or for as much as you would like. However, there are many factors that are in your control that can help you sell your home quickly and effectively. Here are a few ways in which you can accomplish this goal.
Hire an Experienced Real Estate Agent
It’s easy to look up real agents’ sales history and other information online in today’s technological world. This will help you choose the right person to do business with. Check out the online profiles of real estate agents to see how long they have been in the business, how many transactions they have made, and any certifications they might hold. Keep an eye out for where they market their listings and what practices they use to do so, such as professional photography.
To save money on the commission, homeowners might decide to sell their house themselves and not hire a real agent. This is called “for sale-by-owner” or FSBO. Real estate commission is usually 5-6% of the home sale price, so thousands of dollars in savings is possible. However, a good real estate agent will be worth that fee because they put in extra work to market your home and negotiate offers. When you go the FSBO route, it will be your job to manage your own home’s preparation, marketing, reviewing offers, and all the details of closing. Real estate fees have dropped to an all-time low so you can’t go wrong with choosing an experienced real estate agent.
Set Realistic Goals & Plan Ahead
Selling your home is not an easy feat, especially since the process can take up to four months from beginning to end, if not longer. After you have decided to sell the home and chosen an experienced real estate agent, think about having a pre-sale home inspection carried out a few months before listing the home. This allows you to have a headstart on any repairs that may need to be done in order to get your home sold for a good price. You should also begin to stage the home, clean everything, and declutter about a month before listing so it is ready for home showings.
Pre-Sale Home Inspections
A pre-sale inspection is not mandatory but can be a worthwhile investment. You will get an inspection report that will help you identify structural and mechanical issues before you sell your home. While it can get expensive, its purpose is to alert you to issues in your home that buyers may notice. This will keep you from losing offers later on down the road.
Don’t Spend Your Money On Unnecessary Home Improvements
Do not waste money on upgrades to the home, especially if you can’t afford it. If you do not make a profit on updating your kitchen countertops, then there is no point in spending your money to do it. This is where a professional real estate agent can be of great assistance. If you hire an agent who is experienced in your area, they often have a good idea of what your neighbors want and can help plan improvements accordingly. They won’t suggest needless things like a skylight, but they will suggest improvements that will help the sale of your home, such as new paint or carpet. The best return on investment is generally in the kitchen and bathroom, so stick to those areas for upgrades.
Professional Real Estate Photography
Your real estate agent can help you with beautiful photos of your home. They need to be high-quality so they will grab the attention of potential homebuyers and sell your home quickly. Many real estate agents include professional photography in their range of services. If not, research some local photographers who have experience in taking beautiful real estate pictures. Just keep in mind that additional fees may be requested for photography based on the square footage of your home, where it is located, and the time it takes to capture the photos.
You want to find a real estate photographer that knows how to make rooms look bigger and brighter. They should also be able to pay special attention to the outdoor spaces of the home and how to use lighting correctly. A good real estate photographer is an expert on how to appeal to potential homebuyers.
Stage the Home For Showings
It is recommended that you stage your home before you list. This simply means that you take out excess furniture and personal belongings from your home and arrange the rooms to maximize flow and purpose. A professional stager can help you stand out if you are selling a home that is in a slow market or a luxury property.
Price Your Home Correctly
Buyers are not interested in homes that are listed at a higher price than the real estate comps, even in highly competitive markets. It’s important to do it right the first time because underestimating the value of a home can lead to a backlash. Your neighborhood’s comparables can help you price your house right from day one. These real estate comp sheets provide information about properties that have been sold in a particular area. You can see a quick overview of the homes in your area. You can also check out online listings websites to find similar properties in your area. You may be able to get a better idea of the actual sales prices by comparing them to other homes in your area. Remember that multiple price reductions can give buyers the impression that your home is in poor condition.
Negotiation Skills are Crucial
Once your home is officially on the market and potential buyers have seen it, the offers should begin coming. Your real estate agent is your best advocate at this time. Buyers will often offer more than the asking price if you are in a market that favors sellers or may you even get multiple bids. On the other hand, if sales in your area are slow and there aren’t many offers, it might be worth being open to negotiation.
When you are offered a deal, you can either accept the offer or provide a counteroffer. Counteroffers are a way to negotiate terms and prices with potential homebuyers. These should always be made in writing and there should be a response in forty-eight hours. If buyers go below your offer, you can throw in a credit on a new carpet, for example, but you should still maintain your original asking price.
You might feel tempted to choose the highest offer if you are lucky enough to receive multiple offers . However, if the buyer relies on lender financing, an appraisal must be done. The deal may fall apart if there is a difference between the appraised value and the purchase price.
Be Ready to Pay Some Closing Costs
Both the home seller and homebuyer have closing expenses. The seller pays the realtor the real estate commission. Sellers also need to pay for the government transfer tax, recording fees, and outstanding liens. If the buyer has agreed to any repairs credits, the seller will also pay those. Your real estate agent can provide you with a list of all the costs you will be responsible for at closing.
Conclusion
When you’re ready to sell your home, it can be difficult and stressful. There are many moving parts that need to work together in order for the sale of a house to go smoothly. Call a realtor near you today to begin selling your home quickly and effectively!