Important Home Selling Tips
Even a minor mistake in selling a home can cost you hundreds or thousands of dollars. Avoiding mistakes in selling a home takes only a little time, but some serious thought, on your part. Here are some things to consider and guidelines to follow.
Thinking It's the Best Home in the Neighborhood: Your home is one of your most personal and expensive possessions. This may lead you to think its worth more than its "market value," dramatically decreasing its chance to be sold in a reasonable time period. An experienced professional Realtor®: can give you a well-informed opinion, driven by a thorough comparative market analysis (CMA) that will help you price your home properly ... not too high so it "sits on the market and goes stale" and yet no too low so you get less than you should have from its sale.
Make sure its Available for Showings: Buyers want to view homes on their own schedule. Unfortunately, their schedule does not always coincide with yours. Let your Realtor® install a "lockbox" or leave a key with your listing agent so your home can be shown when you are not around. You never know if the one showing you missed was your buyer.
Make Cosmetic Improvements: Many prospective home buyers make up their minds to "like or dislike" a home n the first few minutes they're in your home. First impressions can make all the difference in selling your home. Spending $1,000 on new carpet might add another $4,000 to the price of your home. Get an objective point of view from your real estate professional. He or she can provide you with a list of those items that will maximize the profit of your home sale.
Honestly Disclose Any Property Flaws: Most states now have Property Disclosure laws that require sellers to list any flaws they are aware of. If you are unaware of flaws or attempt to cover them up, you risk losing the sale and finding yourself in court. Get professional assistance from your Realtor® who can introduce you to qualified inspectors and ensure the smooth sale of your home. In fact, paying the modest cost of a professional inspection even before you put the home on the market can be a good investment. That way, you can fix any problems that do exist before a prospective buyer ever sees them.
The For Sale By Owner (FSBO) Trap: Most homeowners who decide to sell their own home do so because they believe they can save the commission paid to the real estate agent. The enormous amount of time and effort required to sell a home often surprises the "For Sale By Owner." Costly mistakes can be avoided with the right professional guidance.
Don’t let a few hundred dollars ruin a sale: That money will mean very little to you in the long run. There's nothing wrong with making a reasonable counter-offer if you feel the offer in front of you is a bit low. But use sound business judgment! Look at the big picture and react rationally given the circumstances and your situation. One or two more mortgage payments or the cost of owning two homes at the same time while you wait for a better offer may cost you much more than the difference between the offered price and what you had hoped for.
Know Your Market: Most homes that do not sell in their first listing period are priced too high. Conversely, most homes that sell quickly are priced too low and cheat the homeowner out of profits they deserve. You need to be aware of the market and evaluate the value of your home based on facts, not gut instinct, and without emotionalism. Professional listing agents make their living by "knowing the market."
Sometimes, selling a home quickly is necessary, but, even in that case, knowing and using the right processes and techniques to sell a home, without looking desperate and becoming a target for low bidders, really pays off. Employ a real estate professional who will ensure that you set the price properly and that you don't prematurely settle for the first offer through the door, unless it’s the "right offer."
Choose the right Realtor®: Home sellers sometimes pick a friend or family member as their Listing Agent Realtor®. Don't do that. Choose an agent with a strong track record and aggressive Marketing Plan. Selling your home is an important decision! Make your decisions based on sound professional advice.
Trust Your Listing Agent: Would you tell a physician that you’ve decided to run your own tests and come to your own diagnosis? By choosing the right Realtor®, you can relax and trust his or her judgment. The right Listing Agent is a valuable team member who will protect your best interests and make your sale as profitable as possible. Trust his or her guidance.
Your home sale should not be a grueling ordeal. The better informed you are, the better chance you have of making sound business decisions. Aligning yourself with an experienced professional Realtor® will ensure that all the important issues, as well as all the seemingly insignificant but very important details, are handled professionally and in a way that gets you the "Best Price."
Sincerely,
Real Estate Information Portal Group.
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