Our Real Estate Blog
Adding a quality home to the real estate market offers no guarantees. And if you fail to set a competitive initial asking price for your residence, your home may linger on the housing market for many weeks or months. Fortunately, we're here to teach you about the real estate sector and ensure you can use your home's initial asking price to differentiate your residence from the competition.
Now, let's take a look at three tips to help you establish the right price for your house prior to listing your residence.
1. Analyze the Housing Market
The housing market is tough to navigate, particularly for a seller who wants to separate his or her residence from the crowd. Thankfully, an informed home seller can review housing market data and use this information to establish a price range for his or her house.
A home seller who assesses the real estate sector can differentiate a buyer's market from a seller's one. This seller will collect and analyze housing market data related to the prices of recently sold residences and how long these houses were listed before they sold. Then, this seller can determine whether he or she is preparing to enter a buyer's or seller's market.
2. Conduct a Home Inspection and Appraisal
Although a home inspection usually is requested by a buyer after a seller accepts an offer to purchase, it may be beneficial for a seller to conduct an inspection before listing a home. An inspection enables a seller to identify problem areas in a residence. As a result, a seller can use an inspection report to prioritize home improvement projects, complete home repairs and boost the value of his or her house.
A home appraisal also may prove to be exceedingly valuable to a seller. In fact, an appraisal provides a seller with a property valuation that he or she can use to establish a competitive initial home asking price.
3. Hire a Real Estate Agent
There is no telling how homebuyers will respond to a new house that becomes available. Lucky for you, a real estate agent can help you plan ahead to list your house and ensure you can establish a competitive price for your home from day one of the property selling journey.
A real estate agent is an expert resource that you can leverage when you sell your house. He or she can help you review housing market data from a variety of sources. Furthermore, a real estate agent can put you in touch with the top home inspectors and appraisers. Perhaps best of all, a real estate agent takes the guesswork out of pricing a house and will help you set an initial home asking price that matches buyers' expectations.
When it comes to selling your house and maximizing its value, there is no need to work alone. If you hire a real estate agent today, you can get the help you need to showcase your residence to prospective buyers and boost the likelihood of a profitable home sale.
Let's face it – no condo seller wants to deal with a high-pressure negotiation. Lucky for you, we're here to help you streamline the process of selling your condo so you can avoid stressful negotiations with property buyers.
What does it take to remain calm, cool and collected during a negotiation with a condo buyer? Here are three tips that every condo seller needs to know.
1. Consider the Condo Buyer's Perspective
As an informed condo seller, it is important to consider both sides of a negotiation. By doing so, you can evaluate a condo buyer's perspective and plan your next move accordingly.
For condo sellers, the goal is to get the best price for a property. As such, a condo seller who performs extensive housing market research probably understands the true value of his or her residence.
On the other hand, a condo buyer is likely to conduct real estate market research on his or her own. This property buyer also will assess the current condition of a condo in relation to his or her budget and submit an offer that accounts for these factors.
Ultimately, a condo seller and buyer should try to find common ground. That way, both parties can work together to get the best results out of a negotiation.
2. Review All of Your Options
After a condo seller accepts a buyer's proposal, the next step likely involves a property inspection. At this point, a condo acquisition may move forward, or a condo seller might need to rethink his or her plan.
If a condo inspector discovers myriad problems with a property, a condo buyer may ask the seller to complete repairs or lower the price of the property. Meanwhile, a condo seller will need to review all of his or her options quickly.
Following a condo inspection, it is important to consider the results of the evaluation.
If a condo seller discovers major repairs are required, he or she should consider completing the repairs or lowering the price on a property.
Or, if a condo buyer asks for a major price reduction even though only minimal repairs are needed, a seller should be unafraid to say "No" to the buyer's requests.
It is important for a condo seller to feel comfortable with any decision that is made throughout the property selling cycle. Thus, if a condo seller is uncomfortable with completing property repairs or reducing the price of a residence after a property inspection, he or she should be ready to decline a buyer's demands.
3. Consult with a Real Estate Agent
A real estate agent will handle negotiations between a condo seller and buyer. Therefore, this housing market professional can play a pivotal role in a seller's ability to get the best price for a condo.
Consulting with a real estate agent who possesses condo experience is key. This real estate agent can keep you up to date during negotiations with condo buyers and ensure you are fully satisfied with the final results.
Take advantage of the aforementioned tips, and you can move one step closer to maximizing the value of your condo.
Family members and friends are loved ones who play important roles in your life. However, when it comes to sharing the news that you've decided to sell your home, it sometimes can be difficult to prevent these loved from sabotaging your home sale.
Lucky for you, there are many simple ways to reduce the risk that loved ones can hinder your ability to sell your residence.
Now, let's take a look at three tips to keep family members and friends involved in the home selling process.
1. Meet with Family Members and Friends
Don't wait to inform family members and friends about your decision to sell your house. Instead, meet with loved ones so you can discuss your home selling plans with them.
Face-to-face meetings with family members and friends are ideal. These meetings will allow you to explain why you decided to sell your home, where you plan to move and much more.
In addition, meeting with family members and friends shows loved ones that you care about their thoughts and feelings. It also sets the stage to involve your loved ones in the home selling process – something that may help you get the best results possible.
2. Respond to Loved Ones' Home Selling Questions
In all likelihood, family members and friends will have lots of questions about your decision to sell your home. If you plan ahead for potential questions, you should have no trouble responding to loved ones' queries accordingly.
It may be tough to move further away from loved ones. But if you prepare before you meet with family members and friends, you can improve your chances of remaining calm, cool and collected as you share your home selling news.
Furthermore, it is important to remember that loved ones might not always agree with your home selling decision.
On the other hand, family members and friends should be ready to stick with you and support your decision, regardless of whether they agree with it. By doing so, your loved ones can provide you with the assistance you need to streamline the home selling process.
3. Discuss Your Options with a Real Estate Agent
For those who want to get their loved ones involved the home selling cycle, meeting with a real estate agent may prove to be a great first step.
A real estate agent can provide recommendations and suggestions about how to share your home selling news with family members and friends. Plus, this housing market professional can respond to your home selling concerns and queries at any time.
Perhaps best of all, a real estate agent will serve as a great guide throughout the home selling process. He or she will help you add your residence to the real estate market, promote your house to potential property buyers and negotiate with homebuyers on your behalf.
Don't worry about telling family members and friends about your decision to sell your house. Conversely, use these tips, and you can prevent your loved ones from sabotaging your home sale.
For home sellers, a seller's market is ideal. Ultimately, this type of housing market empowers home sellers to maximize the value of their residences, and for good reason.
Typically, a seller's market is defined by several key traits, including:
1. Shortage of Quality Houses
A seller's market often features a shortage of quality houses, which means many home sellers frequently are able to set higher initial asking prices for their residences that they would in a buyer's market.
Although a seller's market may enable home sellers to get more for their houses, a home seller still must find ways to generate interest from prospective homebuyers.
For example, a home seller who revamps his or her home's exterior will be able to boost the residence's curb appeal. As a result, this home may generate greater interest from homebuyers than other residences that are on the market, increasing the chance of a quick home sale.
2. Abundance of Homebuyers
A seller's market may feature an abundance of homebuyers who are ready to make their homeownership dreams come true. As such, a home seller may receive offers as soon as his or her residence becomes available. And in some instances, a home seller might even get multiple offers that exceed his or her initial asking price.
Oftentimes, a seller's market provides increased confidence to home sellers. Conversely, it is important to establish realistic home selling expectations, regardless of the market conditions.
For instance, a home seller who prices his or her residence too high from the get-go is unlikely to generate significant interest – even in a seller's market. Thus, this home may remain on the market for many days, weeks or months, and a home seller might need to lower the price eventually.
On the other hand, offering a competitive price, i.e. a price that corresponds to the prices of similar houses in a particular area, is ideal. If you provide a competitive price on your home from day one, you should have no trouble receiving plenty of interest in it, especially in a seller's market.
3. Consistent Supply of Dependable Real Estate Agents
Real estate agents are happy to help home sellers maximize the value of their residences in a seller's market. These real estate professionals may possess many years of industry experience, which means that they likely understand the ups and downs of the real estate sector. Therefore, real estate agents can offer practical tips to ensure that you can stir up substantial interest in your home, get the most for your house and accelerate the home selling journey.
Perhaps best of all, your real estate agent will be happy to respond to any concerns or questions as you add your home to the housing market. This real estate professional works for you and will do everything possible to ensure you get the best results.
Ready to add your home to the real estate market? Employ a real estate professional, and you can move one step closer to optimizing the value of your house.