Our Real Estate Blog
Selling a house the second time around may prove to be much easier than your initial home selling experience. In fact, a veteran home seller can learn a lot from his or her past home selling experience, including:
1. How to Establish a Competitive Initial Home Asking Price
Setting a competitive initial home asking price is paramount, regardless of a home seller's experience. If a seller establishes a competitive initial asking price from the get-go, he or she can increase the likelihood of stirring up plenty of interest in a house. Conversely, a seller who sets an initial asking price that is too high or too low may struggle to achieve the optimal home selling results.
Think about how you priced the home that you most recently sold. This experience may help you determine how you'll price your current house, as well as enable you to avoid potential pricing mistakes along the way.
Furthermore, it usually helps to look at the prices of comparable houses in your city or town. If you assess this housing market data, you can see how your house stacks up against the competition and narrow the price range for your residence.
2. How to Promote a House to the Right Groups of Buyers
If you previously struggled to showcase your house to buyers, you can learn from your past experience and avoid making the same mistakes once again.
Ultimately, a home seller should allocate time and resources to enhance the curb appeal of his or her home. If a house features a stunning exterior, it may generate lots of interest from buyers.
It often helps to maintain a clean home interior as well. If you keep your home neat, tidy and clutter-free, buyers should have no trouble envisioning what life might be like if they purchase your house.
3. How to Hire the Right Real Estate Agent
Conduct an in-depth search for the right real estate agent – you'll be glad you did. If you meet with a variety of real estate agents, you can find a housing market professional who can help you achieve your desired home selling results.
Don't forget to request client referrals from a real estate agent. Because if you can learn about past clients' experiences with a real estate agent, you can make an informed choice about whether to hire this real estate agent to guide you along the home selling journey.
Ready to add another house to the real estate market? Use your home selling experience to your advantage, and you can boost your chances of enjoying a profitable home selling journey.
If you intend to list your residence in the near future, you might believe your house is worth more than you originally paid for it. However, there are many factors that impact a house's value, and these factors include:
1. The Current State of the Real Estate Market
The housing market can vary from city to city, town to town and state to state. So it's generally a good idea to analyze the local real estate climate. You then can use housing market data to determine whether the current real estate climate favors buyers or sellers.
In a buyer's market, there is typically an abundance of quality houses. Meanwhile, a seller likely will need to dedicate time and resources to differentiate his or her home from the competition in a buyer's market. A seller will also want to hire a real estate agent who can help them navigate the challenges of listing a residence in a buyer's market.
Comparatively, in a seller's market, a seller has a golden opportunity to maximize their house sale earnings. In this market, there is usually a shortage of first-rate houses, and homes may sell shortly after they become available. If the market is currently favoring sellers, you may be better equipped than ever before to enjoy a seamless house selling experience.
2. Your Home's Condition
Over the years, you may have committed substantial time and resources to upgrade your residence both inside and out. As such, if you list your home now, your residence may be worth more than you initially paid for it.
On the other hand, if your home has its fair share of problems, these issues may negatively affect its value. But if you upgrade your house before you list it, you could improve your house's value accordingly.
Of course, a home appraisal may help you verify the current value of your residence based on its condition, the housing market, and other factors. During a house appraisal, a property expert will analyze your residence both inside and out. They will provide you with an appraisal report that can help you determine how to price your house.
3. The Economy
Economic fluctuations are common across the United States, and the present state of the national economy may have far-flung effects on your house's value.
For example, a thriving economy may lead people to pursue their dreams of owning a house. In this economy, a seller who lists a top-notch house could reap the benefits of a fast, profitable home selling experience.
Conversely, in a fledgling economy, the number of home sellers may exceed the number of homebuyers. In this scenario, sellers will need to work diligently to promote their residences to the right groups of potential buyers and price their residences competitively.
Consider these factors as you get set to list your home. By doing so, you can analyze your home's value and explore ways to boost the likelihood of getting the best price for your residence.
A home showing often plays a key role in the property selling journey. In fact, if your house dazzles a buyer during a showing, you may receive an offer to purchase your residence shortly after this individual views your home.
Of course, there is no guarantee that a house showing will lead to a fast, profitable home selling experience. But if you know how to plan ahead for a house showing, you could boost the likelihood that this event will lead to an offer to purchase your residence.
There are many things that sellers need to consider before they host a house showing, such as:
1. The Condition of a Home
Dedicate time and energy to enhance your home's interior and exterior. That way, a buyer can fall in love with your residence during a showing.
To bolster your house's interior, you should clean each room of your home as best as you can. Also, don't forget to eliminate clutter that otherwise may make your house appear small and cramped.
Meanwhile, to upgrade your house's exterior, you should mow the lawn, fix any cracked or damaged home siding and perform other repairs. If you need assistance with home exterior upgrades, you can always reach out to property improvement professionals, too.
2. Scheduling Options
You should make it simple for a buyer to schedule a house showing at his or her convenience. By doing so, you can provide buyers with lots of options to view your residence – something that may help you speed up the house selling cycle.
For sellers, it helps to maintain flexibility in regards to home showings. And if you are open to home showings on nights and weekends, you could give buyers plenty of opportunities to check out your house in-person.
3. Your Home Selling Expectations
If a buyer wants to make an offer to purchase your home following a showing, you may have only a limited amount of time to determine how to proceed. However, if you establish house selling expectations, you can quickly decide whether to accept, reject or counter a buyer's offer to purchase your home.
For those who are concerned about hosting home showings or completing other house selling tasks, you may want to hire a real estate agent. This housing market professional is ready to assist a home seller and ensure this individual can easily navigate the property selling journey.
A real estate agent is dedicated to a seller's success. Thus, he or she will work with a seller, learn about this individual's goals and plan accordingly. And if a seller ever has concerns or questions, a real estate agent can respond to them.
When it comes to hosting a home showing, there is no need to stress. By considering the aforementioned factors, a seller can plan ahead for a house showing. And as a result, a seller may be able to accelerate the home selling journey.
Selling a house should be quick and easy. Yet issues may arise that make it tough to enjoy a fast, profitable house selling experience.
Common problems that come up during the home selling journey include:
1. Lack of Curb Appeal
Dedicate time and resources to bolster your residence's curb appeal – you'll be glad you did. Remember, your residence only gets one chance to make a positive first impression on homebuyers. If your house impresses buyers when they see it for the first time, buyers may continue to pursue your home and submit requests to view your residence in-person.
To improve your house's curb appeal, you should mow the lawn, trim the hedges and perform various home exterior upgrades. Take an objective view of your home's exterior to identify any problems that may make buyers shy away from your residence. Then, you can correct these issues.
2. Initial Asking Price Is Too High
If your home's initial asking price fails to account for your house's condition and the current state of the real estate market, you may struggle to sell your residence. In fact, in this scenario, it may be many weeks or months before you receive an offer to purchase your residence.
Before you list your house, you may want to conduct a property appraisal. This enables you to receive a home valuation from a property expert. With this valuation in hand, you can set a competitive initial asking price for your house, thereby increasing the likelihood of a quick home sale.
3. Buyer's Market in Place
In a buyer's market, there may be an abundance of available houses and a shortage of property buyers. Thus, if a home seller is not careful, this individual may struggle to achieve the best-possible results.
Analyze the real estate market closely, and you can differentiate a buyer's market from a seller's one. If you find that homes linger on the real estate market for many weeks or months before they sell, you likely are preparing to enter a buyer's market. As a result, you'll need to go above and beyond the call of duty to differentiate your house from the competition.
When it comes to selling a house in a buyer's market, it may be beneficial to hire a real estate agent. This housing market professional can help you craft a plan that ensures you can seamlessly navigate the home selling journey, regardless of the current real estate market's conditions.
A real estate agent first will meet with you and learn about your home selling goals. He or she next will develop a personalized home selling strategy and promote your residence to prospective buyers. And if you receive an offer to purchase your house, a real estate agent will help you review this proposal and determine the best course of action.
Take the guesswork out of the home selling journey – collaborate with a real estate agent, and you can get plenty of help as you get ready to sell your residence.
The good news: a homebuyer has made an offer on your house and is ready to purchase it as quickly as possible. On the other hand, there's the bad news: this homebuyer has many requests that need to be fulfilled to finalize a home sale.
Unfortunately, a stubborn homebuyer can put a home sale in jeopardy. But a home seller who understands how to deal with a stubborn homebuyer effectively may be able to boost his or her chances of a seamless property sale.
Now, let's take a look at three steps that every home seller can use to deal with a stubborn homebuyer:
1. Focus on the End Results
For most home sellers, the end goal of selling a home is getting the best price for your residence, regardless of the current real estate market's conditions. As such, if you remain focused on your ultimate goals, you may be better equipped than others to deal with a stubborn homebuyer.
If a stubborn homebuyer submits a variety of requests, allocate the necessary time and resources to consider each request closely. Then, if you find the requests are overwhelming, you can always submit counter-proposals.
Lastly, don't forget that you can always walk away from a home selling negotiation that appears to be going nowhere. And remember, if a negotiation with a stubborn homebuyer goes south, you can relist your residence and restart the home selling journey.
2. Consider the Homebuyer's Perspective
Why is a homebuyer acting stubborn? Open the lines of communication with a homebuyer, and you may be able to find out the root of a property buyer's stubbornness and proceed accordingly.
A homebuyer may have concerns or questions about buying your residence. Fortunately, if you maintain open lines of communication with a homebuyer, you can address these concerns and questions without delay.
Also, be aware of the homebuyer's perspective as you proceed along a property selling negotiation. Although a homebuyer may make requests along the way, it is important for you and a property buyer to find common ground. If you feel uncomfortable with a homebuyer's requests, you should be unafraid to walk away from a home selling negotiation altogether.
3. Ask a Real Estate Agent for Extra Help
If you're unsure about how to approach a stubborn homebuyer, there is no need to worry. Conversely, meet with an expert real estate agent, and you can find out how to move one step closer to getting the best price for your residence.
An expert real estate agent will be happy to provide honest, unbiased recommendations about how to collaborate with a stubborn property buyer. Next, you and a stubborn homebuyer can work together to complete a home sale.
Plus, an expert real estate agent may act as a liaison between a property seller and buyer. This housing market professional can learn about both sides and what they are looking for in a home sale and take the necessary steps to deliver the ideal results for all parties involved.
Take the guesswork out of dealing with a stubborn homebuyer – use these tips, and you can boost your chances of navigating a successful home selling journey.