How To Sell Your Home In A Poor Real Estate
It is no longer a seller’s market in properties, so if you are putting your house up for sale, it should be because you need to sell. A few years ago, so many were putting their houses on the market at ourtrageous prices just to take advantage of the upswing in real estate and the potential profit they could make on their home. That is far from the case today, where sellers are losing money on their houses;so you should make sure you truly want to sell now.
If you have no choice in the decision because you have a new job in a distant area, or a growing family requires a bigger home, make sure you go about the sales process very carefully. If you have any decision making in the matter, delay selling as much as you can. The housing market is cyclical, and this cycle will have its course and eventually supply and prices will find a new level.
If you have to sell, the first and most important decision is, are you going to do it yourself or are you going to use a real estate agent? FSBO, for sale by owner, homes are becoming more and more common as today’s high house prices make real estate commissions of 5 or 6% seem exorbitant. Real estate agents have been able in past years to command up to 5 or 6% commissions because they have the time and talent to give to the sale. If you won’t have the time to devote a great deal of work to it, the price may be worth it. Today’s tight market has also meant that real estate commissions have become much more competitive.
Pick your agent with extreme care. Research the recent sales in your area to see which agent’s names you find most often as listing broker. Also research the original listing date compared to the sales date, to make sure the agent did not just sit on a home for a few years and wait for it to move.
Once you have chosen the agent, work carefully and closely with him. Contact him for news about what clients are looking for, when she is showing your house next, etc. Your property should always be the first one the broker thinks of when a buyer comes in the door. Be as available as much as possible for the house to be shown, or set up a lock box system. Especially in today’s glutted market, you cannot afford to have a buyer pass over your home.
Prepare, prepare, prepare. Get your home in perfect shape. Attend to any little issues, and even consider hiring a home inspector to make sure there are no hidden ones; you can be sure your buyer will hire one and if he finds something you didn’t tell them about, there goes the sale. Vacuum, dust and make the kitchen and bathrooms shine every day. Remember how important the view of a house from the outside is and keep everything clipped, watered and mowed. Many buyers just drive right past a home that doesn’t look good from the outside.
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