Thousands of existing homes are sold each year and, while each transaction is different, every owner has the same objective: the best possible deal with the least amount of hassle and aggravation.
The home selling process has changed. Buyer brokerage, the process in which Estate Agents or Realtors represent home buyers, is now common nationwide and good buyer-brokers want the best for their clients.
The result is that, while thousands of existing homes may be sold each week, the process is not as easy for sellers as it was a few years ago. Surviving in today’s real estate world requires experience and training in such fields as real estate marketing, financing, negotiating and closing, the very expertise available from local expert realtors.
Are You Ready to Sell?
The home-selling process typically starts several months before a property is made available for sale. It’s necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and tossed out.
Ask yourself: If you were buying this home, what would you want to see? The goal is to show a home that looks good, maximizes space and attracts as many buyers as possible. While during a up-market, homes are sold almost entirely based on market prices and location attributes, homeshowsmanship seemed to be a neglected art.
While part of the “getting ready” phase relates to repairs, painting and other home improvements, it is also a good time to ask why you really want to sell. Selling a home is an important matter and you should have a good reason to sell, perhaps a job change to a new community or the need for more/less space. Your reason for selling can impact the negotiating process, so it’s important to discuss your needs and wants in private with the realtor who lists your home.
When is the good time for you to Sell?
Generally speaking, markets tend to have some balance between buyers and sellers year-round. For example, a given community may have fewer buyers in last quarter of the year, but it’s also likely to have fewer homes available for purchase. As a result, home prices tend to rise or fall due to general patterns of supply and demand, rather than the time of year.
Owners are encouraged to sell when the property is ready for sale, there is a need or desire to sell, and the services of a local realtor have been retained.
How to Improve Your Home’s Value?
The general rule in real estate is that buyers seek the least expensive home in the best neighborhood they can afford. This means you want to put on the market a home that fits with the neighborhood but is not over-improved. For example, if most homes in your neighborhood have three bedrooms, two baths and 1200 square feet of finished space, a property with three bedrooms, more baths and far more space would likely be priced much higher and would be more difficult to sell.
Improvements should be made so that the property shows well, reflects community preferences and does not involve capital investments, the cost of which cannot be recovered from the sale.