Let’s face it – by the time you decide to list your house for sale, you may already have the urge to get up and go. Your goal is to sell your property quickly, efficiently, for the most money with the least hassles as possible. However, selling real estate is not a speedy endeavor. Although real estate transactions take time and come with a multitude of variables, there are some practical things you can do to expedite the process and increase your chances of selling your home for a maximum profit and minimal stress. There’s a saying that knowledge is power. That saying applies to selling properties. Education, preparation, and action can aid your endeavors. You don’t have to leave the sale of your home to chance and luck. Here are some activities to consider for increasing the odds of selling your home fast.
The Power of Pre-Appraisal
When you receive an offer on your home for sale, the house has to be appraised by an independent appraiser to validate the value of the property and the structure. While many sellers wait until it’s required, you can get a jump start by having the house pre-appraised. Not only can pre-appraisal help speed up the sales process, but can also give you an informed perspective on how to price your home competitively to sell quickly. Appraisers tend to work in $500 increments, so little upgrades, cosmetic enhancements, small repairs, and simple fixes could increase your home’s value significantly.
Staging is a critical element in preparing your house to sell fast. Staging is a term for polishing your house to present it in the best light possible to potential buyers. The goal is to wow buyers with curb appeal, then entice them to fall deeper in love with the property with each step they take. Staging a house involves cleaning, repairs, landscaping, and minor upgrades such as screens, doorknobs, electrical sockets, and other inexpensive fixes. You can opt to stage your house yourself, or can contract professional stagers who can do the work for you. By decluttering and de-personalizing the space while enhancing the property’s features, you allow buyers to envision themselves making the home their own as opposed to being a guest in yours.
Choosing the Right Agent
Choosing the right real estate agent should hold the same merit as finding the right doctor, car mechanic, or other professional you can rely upon and trust. Real estate agents vary in specialties, specifications, commission rates, communication methods, contract terms, and personality. Your goal is to find a professional real estate agent who is familiar with your area, experienced in selling the type of property you’re selling and with whom you feel comfortable communicating. You’ll be working with your agent closely, so consider it a short-term relationship. Make sure your personality is compatible with the agent you choose.
Price it Right
When selling your house, the last things you want is for it to sit on the market for extended periods of time, or to experience price cuts. The longer the house is available for sale, the higher the chances are that you’ll find yourself reducing the price. Reducing the value can not only cut into your bottom dollar but can also be a signal to buyers that you’re desperate to sell. There is an art to pricing a home competitively and more efficiently to sell quickly.
Market Your Listing
Even if your house is pre-appraised, expertly staged, and priced appropriately, you have to market your listing to buyers. Choosing the best real estate agent is a critical element in how you will market your house for sale. There is a multitude of ways to draw attention to a property such as open houses, classified ads, social media advertising, MLS listings, networking, and tapping into a database of buyers whose criteria match your property. Discuss with your real estate agent at length what techniques will be used to get your house in front of the eyes of buyers.
Offer a Home Warranty
Here’s the deal. When people are shopping for a pre-owned home, they’re making a significant investment in a used product Even with an inspection and appraisal completed buyers may be concerned they’ll face heavy maintenance and repair costs. Providing consumers with a home warranty is one way to set their concerns to rest with the assurance they won’t be left alone to hold unforeseen problems. The average home warranty costs about $300-$500 and lasts for a year from the date of purchase. For the seller, that’s a small investment to make to encourage buyers to act without hesitation.
Allow for Various Financing
There are different types of home mortgage loans and financing available to home buyers. However, some sellers aren’t willing to consider all of the funding options, which may narrow down the pool of possible buyers. Not only should the seller entertain the idea of conventional loans, but may increase their chance of selling their house faster by being open to FHA loans (Federally Assisted), VA Loans (supported by the U.S. Department of Veteran Affairs), or even seller loans. A seller-carried loan consists of a promissory note between buyer and seller detailing deposits, payments, and interest rates wherein the person(s) buying the house is not required to secure funds from a lender.
Listing a home at a certain price does not guarantee offers from buyers will match that goal. Not only may the price be up for negotiation, but the terms may also vary. Buyers have different needs regarding timelines and contingencies. A household may need to move in quickly or may require a little extra time. Some house-shoppers may need to sell their existing property before they can purchase your home. Other buyers may face the need to negotiate closing costs or earnest money deposits. Be willing to entertain various offers, and be open to negotiations. When a seller is too rigid, the buyers may sniff the bait but avoid the bite.
By following these eight specific steps when preparing your house for sale, you can increase your chances of selling your property for a higher price, in less time, with fewer hassles. Each element is an essential part of the process that can expedite your real estate transaction. Although not necessarily simple, these steps are strategic in enhancing your success. While it’s true that knowledge is power, that knowledge needs to be supported by action. You don’t need to leave the process to chance or luck.
Want to know more? Call Sheri George at 704-224-1166.