Selling a home can be a complex process, especially if you’re trying to sell property in an area where the market isn’t doing so well. Whether you’re flipping an investment property or you’ve just decided it’s time to move on and sell your home, the following tips can help:
Decide if you want to use a real estate agent
One of the first decisions you’ll want to make is whether to use a real estate agent or not. A real estate agent will charge a commission for the home’s final sale price, but it may be worth it if you don’t have the time needed to sell your home. You have to consider listing your home, marketing, showing the home, open house events, handling the closing, and so on. It’s a lot of work, but if you’re up for the challenge—or you have the time and experience—you could go at it alone and save yourself a lot of money. Many people try to sell their home on their own at first just to see what they could get for it, and then may enlist the help of a real estate agent if they don’t receive any serious offers. This is an approach worth considering, but if you’re in a rush to sell your home, you may just want to hire a real estate agent from the beginning.
Set a listing price
Price your home accordingly, and don’t rush this process. You’ll need to take a lot of factors into consideration, and if you are selling your home on your own, you’ll need to do a lot of research before you decide on a price. Consider your location, current housing market, demand for homes in the area, how many other homes are currently for sale and what they’re listed at what comparable homes in your area sold for recently, and so on. You don’t want to list your home so high that potential homebuyers just move on to the next listing, but you don’t want to price it too low and lose a lot of money. You also have to consider negotiations—unless you live in a hot housing market, you need to prepare for homebuyers to make an offer that’s lower than your listing price, so keep this in mind. You’ll also have to consider how quickly you need to sell your home. If you’re in a rush, you may need to list it a little lower to attract more people, and you may need to be willing to take a loss. But if time is on your side and you’re looking to make a profit, you may be able to list it at a higher price.
Stand out (in a good way)
First impressions are very important when it comes to buying a home, and you want to be memorable to everyone who comes to look at your home—and in a good way. Don’t forget curb appeal, also. Your home might be amazing inside, but if someone notices your “for sale” sign and the curb appeal is underwhelming, they might not care enough to even call you to schedule an appointment for a tour. You want to “wow” anyone who comes to look at your home, and try to stand out from other, similar homes that are for sale. This might mean making some small investments, such as energy efficient windows or some new landscaping. Even a fresh coat of paint can go a long way!