Pamela McArdle's Blog
If you intend to sell your home, you should develop a plan. That way, you can identify any potential home selling hurdles and take steps to address such issues before they escalate.
Now, let's take a look at three tips to help you execute a house selling plan to perfection.
1. Establish a Timeline
You know you want to sell your home, but it is important to understand that it may take several days, weeks or months to complete the house selling cycle. Fortunately, if you establish a home selling timeline, you can set realistic expectations for the property selling journey.
Think about how long you will need to relocate from your current residence to a new one. For instance, if you need to pack up your personal belongings, you should account for this factor as you develop your home selling timeline.
When it comes to selling a house, it generally is a good idea to give yourself as much time as you can. Remember, if you have sufficient time to clean your residence and upgrade your house's curb appeal, you may be able to speed up the property selling cycle.
2. Remain Flexible
Although you may devote significant time and resources to craft an effective home selling strategy, you need to keep in mind that problems may arise during the property selling journey. In some instances, these issues may be unavoidable. However, if you maintain flexibility, you can address any home selling issues and prevent them from slowing down or stopping a house sale.
If you encounter a problem during the home selling journey, try not to stress about it. Conversely, tackle a home selling issue head-on, and you can overcome this problem without delay.
3. Consult with a Real Estate Agent
If you are unsure about how to plan for the home selling journey, you can always hire a real estate agent. Because if you have a real estate agent at your side, you can receive expert guidance at each stage of the house selling cycle.
A real estate agent knows what it takes to sell a residence, regardless of the current housing market's conditions. First, he or she will meet with you, learn about your home selling goals and help you plan accordingly. And when you have a home selling strategy in place, your real estate agent will help you put this plan into action.
As you execute a home selling plan, a real estate agent is ready to provide tips and recommendations as well. If you ever have concerns or questions as you navigate the home selling journey, a real estate agent will respond to them immediately.
For those want to streamline the home selling journey, it helps to craft a plan. Thanks to the aforementioned tips, you can create a first-rate home selling strategy. And as a result, you can use a home selling plan to promote your residence to buyers and maximize your house sale earnings.
As a first-time home seller, it can be tough to establish a competitive price for your residence. And if you set a price that is too high or too low, you risk alienating potential homebuyers or missing out on an opportunity to maximize the value of your house.
Ultimately, there's a lot to think about as you determine the price for your residence. Lucky for you, we're here to help you take the guesswork out of pricing your home, regardless of the current housing market's conditions.
Let's take a look at three tips to help first-time home sellers set a competitive price for a residence.
1. Study the Real Estate Market
How does your residence stack up against similar houses that are currently available in your city or town? Study the real estate market, and you can find out how your residence compares to the competition.
Evaluate the prices of currently available houses in your city or town. With this housing market data in hand, you can learn how your home ranks against the competition and establish a price range for houses that are similar to your own.
Also, examine the prices of recently sold houses in your area. By doing so, you can find out whether you're about to enter a seller's market or a buyer's market and map out your home selling journey accordingly.
2. Perform a Home Appraisal
A home appraisal can make a world of difference, particularly for a first-time home seller who is uncertain about how to upgrade a residence.
During a home appraisal, a property inspector will examine a home's interior and exterior. After the appraisal is finished, this inspector will provide a home seller with a report that outlines his or her findings.
Take the results of a home appraisal seriously – you'll be glad you did. The appraisal enables a home seller to learn about a home's strengths and weaknesses, and as a result, discover the best ways to transform assorted weaknesses into strengths. Then, a home seller can perform myriad home upgrades and may be better equipped than ever before to optimize the value of a house.
3. Consult with a Real Estate Agent
A real estate agent analyzes housing market patterns and trends closely and is happy to share home selling insights at any time. Thus, this housing market professional can help a home seller establish a competitive price for a home from the get-go.
Moreover, a real estate agent will promote a home to the right groups of homebuyers and work with a home seller at each stage of the property selling journey. He or she will even negotiate with homebuyers on a seller's behalf to increase the likelihood that a seller can get the best price for a residence.
When it comes to selling a home for the first time, there is no need to leave anything to chance. Use the aforementioned tips, and a first-time home seller can set a competitive price for a house and increase his or her chances of a quick home sale.
When you go to sell your home, your real estate agent will take care of playing host for interested buyers. This is part of the service that you get when you hire a real estate agent. The agent will not only handle setting up the showing appointments; they will also meet the prospective buyers at your home, walk them through the house and point out attractive features. While this is happening, you and your family can relax elsewhere. When the showing is over, the agent will contact you and let you know the coast is clear for you to return home.
1. Your Presence Will Distract Buyers
Your agent needs prospective buyers to focus on the house. If you’re there, the buyers’ attention will be torn between you and the house. Since showings only last a limited time, that will be valuable time lost for the agent to point out reasons why the house is a great fit.
2. Buyers Won’t Feel Free to Browse
Buyers need to be able to feel free to open cabinet and closet doors and look closely at details around your home. This is what will help make them feel comfortable about making an offer on the property. If the owner is present, buyers won’t feel able to look around. They may constantly turn to you to ask permission. This detracts from their ability to imagine the home as being their own.
3. You Could be Asked Difficult Questions
Buyers may take advantage of your presence to ask challenging questions. They may ask things like if the basement ever floods, if there are leaks in the roof or why there appears to be a crack in the basement wall. Your agent will know exactly how to field these questions and allay fears.
You hired a great real estate agent for a reason, so the best thing you can do is follow advice during showings and the rest of the homebuying/home selling process. By trusting your agent, the process will move smoother and assure you get the most bang for your buck.
Before you list your house, you'll need to establish a competitive price for it. That way, you can increase the likelihood of stirring up plenty of interest in your house as soon as it becomes available.
Now, let's take a look at three best practices for pricing your home.
1. Evaluate the Real Estate Market
The current real estate market's conditions can impact your ability to sell your residence. However, if you study the real estate market closely, you can differentiate between a buyer's and seller's market and plan accordingly.
In a buyer's market, the number of home sellers exceeds the number of homebuyers. As such, you likely will need to establish an aggressive price right away to separate your house from the competition.
On the other hand, a seller's market favors home sellers over homebuyers. If you're operating in a seller's market, you may be better equipped than ever before to earn a significant profit.
To differentiate between a buyer's and seller's market, examine the prices of recently sold homes and available homes in your area. This housing market data can provide deep insights into the current state of the housing market. Plus, this data can help you understand how your residence stacks up against the competition.
2. Conduct a Home Appraisal
Ultimately, a home appraisal can make a world of difference for any home seller, at any time.
During a home appraisal, a professional appraiser will examine your house both inside and out. Then, this appraiser will offer a valuation of your property based on his or her findings.
A home appraisal involves an evaluation of the current condition of your home, your house's age and your neighborhood. Therefore, if you complete a home appraisal, you should have no trouble using the appraisal results to help establish a fair price for your residence.
3. Collaborate with a Real Estate Agent
When it comes to selling a house, there is no need to work alone. Fortunately, if you collaborate with a real estate agent, you can receive expert insights into all aspects of the home selling cycle.
A real estate agent is happy to meet with you and learn about your home selling goals. Next, this housing market professional will offer home pricing recommendations, ensuring you can make an informed decision about how to price your house.
In addition, a real estate agent will go above and beyond the call of duty to ensure you can enjoy a seamless home selling experience. This housing market professional will promote your residence to large groups of homebuyers, set up home showings and open houses and put together an engaging and informative home listing. Also, a real estate agent will always keep you up to date about any offers on your home.
Looking to list your home in the near future? Use the aforementioned best practices, and you can establish a competitive price for your residence and boost your chances of a fast, profitable home sale.
You don't need to be a home selling expert to counter a buyer's offer to purchase your house. In fact, sellers who know what factors to consider as they evaluate a homebuying proposal may be better equipped than others to submit a successful counter-offer.
Now, let's take a look at three factors a seller should consider before countering a buyer's offer to purchase his or her home.
1. Your Home Selling Goals
If an initial offer to purchase your home falls shy of your property selling expectations, there is no need to stress. By countering this proposal, you and a buyer may be able to find common ground. And as a result, both parties may be able to come to an agreement on a house sale.
Analyze your home selling goals closely. And if you find a buyer's offer to purchase comes close to helping you achieve your goals, you may want to submit a counter-proposal.
2. Your Home's Condition
The condition of your home may have far-flung effects on your house selling experience. If your home is in need of assorted upgrades, a buyer may be more inclined than ever before to account for these repairs in his or her offer to purchase. Meanwhile, as a home seller, you need to consider your residence's condition as you assess an offer to purchase and proceed accordingly.
If you feel a buyer's initial offer to purchase your home is low based on your residence's condition, you may want to counter the proposal. However, if you account for the costs of potential home repairs in your counter-proposal, you may be able to come to terms with a buyer on a home selling agreement.
3. Your Home's Price
Although you may have allocated significant time and resources to price your home appropriately based on the current real estate market's conditions, you may receive an offer to purchase that falls short of your expectations. Fortunately, if you submit a counter-proposal, you can make it clear about what price you are willing to accept for your residence. And if you provide a counter-offer to an initial homebuying proposal, you can show a buyer exactly how much he or she will need to pay to purchase your house.
As you analyze an offer to purchase your home, keep in mind that you can always collaborate with a real estate agent too. If you work with a real estate agent, you may be able to gain the insights you need to make an informed property selling decision.
Typically, a real estate agent can help you weigh the pros and cons of accepting, rejecting or countering an offer to purchase your house. If you are looking for in-depth home selling recommendations and suggestions, a real estate agent is happy to provide them to you at your convenience.
Assess an offer to purchase your home carefully – you'll be glad you did. If you feel you may be able to reach an agreement with a buyer, you may want to counter his or her homebuying proposal.