Jonathan Parker & Sharon Kelley's Blog
For those who intend to list a house, it helps to establish realistic expectations. That way, you'll have a good idea about what to expect during the home selling journey.
Now, let's take a look at three tips to help you manage your expectations as you attempt to sell your house.
1. Understand the Housing Market
You may own a great home, but even a top-notch residence may be difficult to sell based on the current housing market's conditions. If you allocate time and resources to study the real estate market, however, you can differentiate a buyer's market from a seller's market. Then, you can map out your home selling journey accordingly.
In a buyer's market, there may be an abundance of houses and a shortage of buyers. Therefore, sellers may need to price their houses competitively to stir up interest from buyers.
Comparatively, in a seller's market, there likely is an abundance of buyers and a shortage of first-rate houses. This means a seller probably won't have to wait long to receive offers to purchase after he or she lists a high-quality residence.
To distinguish a buyer's market from a seller's one, you should look at the prices of recently sold houses in your area and find out how long these properties were listed before they sold. This information enables you to review the level of interest in properties in your city or town and can help you determine whether you're preparing to enter a buyer's or seller's market.
2. Know Your Home's Strengths and Weaknesses
You may believe your home is flawless, but buyers may quickly identify problems with your house. Fortunately, a seller who conducts a house inspection can address any potential issues before listing his or her residence. Home inspection results may help a seller establish realistic pricing expectations for his or her house too.
During a house inspection, a property expert will examine a residence both inside and out. This property expert next will provide a homeowner with an inspection report that details his or her findings. With an inspection report in hand, a homeowner can correct underlying house issues before he or she adds a residence to the real estate market.
3. Collaborate with a Real Estate Agent
A real estate agent understands the opportunities and challenges of the home selling journey. As such, he or she will help you set expectations for this journey, as well as help you make the most of available home selling opportunities and resolve property selling challenges.
Typically, a real estate agent will meet with you and find out what you want to accomplish by selling your home. He or she next will craft a personalized home selling strategy for you, promote your residence to potential buyers and do everything possible to help you maximize your home sale earnings.
Manage your expectations as you proceed along the home selling journey. By doing so, you can limit the risk of encountering home selling problems and boost the likelihood of a successful property selling experience.
As a home seller, it is important to do everything possible to ensure your residence makes a positive impression on buyers. Because if your residence fails to impress buyers during a showing or open house, your home may linger on the real estate market for an extended period of time.
Ultimately, there are lots of things you can do to ensure buyers feel good after they view your residence, such as:
1. Bolster Your Home's Curb Appeal
When buyers view your home for the first time, you likely want them to fall in love with your residence. If you allocate time and resources to enhance your house's curb appeal, you may make it simple for buyers to see your residence's full potential and envision what life could be like if they purchase your home.
To upgrade your home's curb appeal, you should perform lawn care tasks like mowing the lawn and trimming the hedges. You also should repair any cracked or chipped home siding, as well as correct any other property exterior issues that could negatively affect a buyer's perception of your house.
2. Remove Clutter
Clutter is a problem that may make it tough for buyers to picture a future in your home. If you have excess items scattered around your home, there may be no time like the present to get rid of these items.
To eliminate clutter, you may want to host a yard sale or list excess items online. In addition, you can always donate any items you no longer need to a local charity or give them to family members or friends.
3. Clean Each Room of Your Home
For homebuyers, nothing beats a pristine, tidy home interior. If you clean each room of your house from top to bottom, you can help your home's interior make an unforgettable impression on buyers.
Taking a room-by-room approach to home cleaning may be ideal. Furthermore, if you need extra assistance, you can hire a professional home cleaning company.
Of course, if you are searching for ways to streamline the home selling journey, you may want to hire a real estate agent as well. A real estate agent is happy to teach you the ins and outs of selling a house and ensure you can maximize your home sale earnings.
A real estate agent can guide you along each stage of the home selling journey. First, he or she will learn about you and your home selling goals. A real estate agent next will help you list your residence and promote your home to dozens of prospective buyers. Finally, if you receive an offer to purchase your home, a real estate agent will help you determine whether to accept, reject or counter this proposal.
Clearly, there is no shortage of options to upgrade your residence and ensure it garners buyers' attention. If you take advantage of the aforementioned tips, you could simultaneously help your house stand out to buyers and speed up the home selling cycle.
A home seller must consider the initial asking price of his or her residence closely. Because if a home seller sets an unrealistic initial asking price, he or she risks alienating potential buyers.
Now, let's take a look at three tips to help you set a realistic initial asking price for your house.
1. Review the Local Housing Market
The local housing market may favor buyers or sellers. Fortunately, if you analyze the local housing sector, you can differentiate a buyer's market from a seller's market – or vice-versa – and price your house accordingly.
In a buyer's market, there is an abundance of quality residences and a shortage of buyers. And if you're operating in a buyer's market, you may need to price your house aggressively to stir up interest in it.
Comparatively, in a seller's market, there is a shortage of quality residences and an abundance of buyers. In a seller's market, you may be able to generate lots of interest in your house, even if you set an above-average price for it.
Regardless of whether you're operating in a buyer's or seller's market, you should assess housing sector data. Find out how your residence stacks up against available houses in your city or town that are similar to your own. Then, you may be better equipped than ever before to set a competitive initial asking price for your home.
2. Conduct a Home Inspection and Appraisal
By performing a home inspection, you can receive comprehensive insights into your house's condition. Following an inspection, you can prioritize home repairs. Plus, you can use an inspection report to help you determine how to price your residence.
In addition, you can conduct a home appraisal prior to listing your residence. Thanks to an appraisal, you can receive a property valuation. And as a result, you can use this property valuation to price your house appropriately.
3. Consult with a Real Estate Agent
A real estate agent understands the ins and outs of the housing market. Thus, he or she can help you establish the right price for your house.
Ultimately, a real estate agent is unafraid to be honest with a house seller. He or she will teach a seller about the housing market and provide unbiased recommendations about how to price a residence. Best of all, a real estate agent will promote a house to prospective buyers and ensure a seller can get the best price for his or her home.
Let's not forget about the assistance that a real estate agent can provide during a negotiation, either. A real estate agent is happy to negotiate with a buyer on your behalf. As such, a real estate agent can help you optimize your house sale earnings.
For a home seller who wants to determine the right price for his or her house, it helps to prepare as much as possible. If you take advantage of the aforementioned tips, you can establish a competitive initial asking price for your home and boost the likelihood of enjoying a fast, profitable house selling experience.
Home staging is one of the most tried-and-true methods of selling your home faster. It can also help you increase the purchase price of your home by between one and five percent.
However, working with a professional home stager--while a good investment--is not always in everyone’s budget.
The good news is, there are a lot of simple and inexpensive ways to stage your home that will give visitors a good first impression, make for great photos for your online listing, and hopefully help speed up your home sale.
In today’s post, we’re going to break down six of the most effective and inexpensive home staging tips to help you sell your home faster.
1. Declutter everything
Cleaning out your home is one of the best ways to make it appear more spacious and welcoming. It gives you the chance to start packing items you won’t need until you move into your new home, and it opens up space to use a few choice decorations around the home.
For things like cabinets and closets, remove all of the items you won’t need until you move. A closet that is half-full will look much larger for guests viewing your home.
2. Clean carpets and polish wooden furniture
Carpets, flooring, and furniture make up a large percent of the visible space in your home. Leaving these items dirty or worn when selling your home is missing out on a huge opportunity to make your home look up-to-date and well-maintained.
You can rent a carpet cleaner for as little as $20, and a gallon of wood polish costs around $15, making these two items a solid investment for staging your home.
3. Paint with bright colors
When we paint our homes we usually choose colors that we like, rather than ones that appeal to the largest number of people. And although that’s a great thing while you own a home, it can be detrimental when it comes time to sell. Repainting dark walls in bright, neutral tones will make the room feel larger and well-lit.
4. Paint the front door while you’re at it
A freshly painted, bright colored front door can be the secret weapon when it comes to making your home stand out amongst your neighbors. It is a cheap way to quickly freshen up the exterior of your home and increase curb appeal.
5. Purchase a new welcome mat and mailbox
Welcome mats tend to get a lot of use and wear down. Similarly, mailboxes often get dented and faded over the years.
These two items can be excellent accents to improve the curb appeal of your home. Choose colors that match the overall color scheme of your home to establish a sense of continuity.
6. Rearrange furniture to allow foot traffic
When someone comes to view your home, you’ll want to sure they have ease of access to each part of the house. Rearrange the furniture in your kitchen, dining room, and bedrooms to make it easy to tour the home.
Receiving multiple offers on a residence is a home seller's dream come true. However, if a home seller faces a tight deadline to review several homebuying proposals simultaneously, making the right decision may prove to be exceedingly difficult.
Ultimately, evaluating multiple home offers at the same time can be quick and seamless – here are three tips to ensure that you can review various home offers and make an informed decision.
1. Consider the Homebuyer's Perspective
Although you probably won't be able to find out the identity of a homebuyer who submits an offer on your home, you may be able to learn about the homebuyer's perspective if you study a home offer closely.
For example, a homebuyer who wants to close on a residence as soon as possible may face a time crunch. And if this buyer has fallen in love with your home, he or she may do anything possible to acquire it.
On the other hand, a homebuyer who submits a lowball proposal may be looking for a bargain. Therefore, this home offer may fall far below your initial expectations, and you should not hesitate to decline or counter the proposal.
2. Analyze the Housing Market
Operating in a buyer's market or a seller's market may dictate how you proceed with multiple offers on your house.
If you've listed a house in a seller's market, the number of homebuyers likely exceeds the number of first-rate houses that are available. As such, you may want to accept a home offer in a seller's market only if it matches or exceeds your expectations.
Comparatively, if you're working in a buyer's market, there likely is an abundance of high-quality residences and a shortage of homebuyers. Thus, you may be more inclined to accept a home offer that nets you the biggest profit – even if the home offer falls shy of your initial home selling expectations.
3. Collaborate with a Real Estate Agent
If you're unsure about how to approach multiple offers on your home, it certainly pays to consult with a real estate agent. In fact, a real estate agent can help you examine various offers and decide which home offer – if any – is right for you.
By hiring a real estate agent, you'll gain an expert ally who will support you throughout the home selling journey.
Typically, a real estate agent will learn about your home selling goals and ensure you can set a competitive price for your residence. He or she also will host home showings and open houses, negotiate with homebuyers on your behalf and do everything possible to help you get the best price for your home, regardless of the real estate market's conditions.
Perhaps best of all, a real estate agent is prepared to respond to your home selling concerns and queries. And if you have questions about a home offer, your real estate agent is available to respond to your questions at any time.
Take the guesswork out of evaluating multiple offers on your home – use the aforementioned tips, and you can determine the best course of action based on the home offers at your disposal.