Deborah Anastas' Blog
Selling a house is no small feat, particularly in a competitive real estate market. As such, home sellers may be prone to make mistakes if they don't plan ahead for potential pitfalls.
Common home selling mistakes include:
1. Listing a Home Without Performing Housing Market Research
Let's face it – selling a house can be stressful. In many instances, home sellers will want to speed through the home selling journey – something that may lead these sellers to list residences without evaluating the real estate market in advance.
Spending even a few minutes looking at the prices of homes in your city or town may make a world of difference. Ultimately, the more housing market research that you perform, the more likely it becomes that you'll be able to optimize the value of your house.
Take a look at the prices of available homes in your city or town that are similar to your own. Also, evaluate the prices of recently sold houses in your area. With this housing market data at your disposal, you'll be better equipped than ever before to price your residence competitively and boost your chances of a profitable home sale.
2. Accepting an Initial Offer on a Residence
The first offer that you receive on a residence may prove to be the best offer. However, in some cases, the initial offer may fall short of your expectations.
Immediately accepting the initial offer on a residence may prove to be costly. Fortunately, a home seller who understands the housing market can take a data-driven approach to determine how to proceed with any offer, at any time.
Performing a home appraisal before you list your residence can provide valuable insights into a property's value. Then, you can list your house for a competitive price, one that helps generate substantial interest in your house and may lead to offers at, near or above your initial asking price.
In addition, don't forget to consult with a real estate agent. If you receive a home offer and are unsure about whether to accept, reject or counter it, a real estate agent can provide expert advice to help you make an informed decision.
3. Ignoring a Real Estate Agent's Recommendations
A seller's agent is committed to helping you optimize the value of your residence, and this housing market professional will offer recommendations as you sell your house to ensure you that can get the best results possible.
If you ignore a real estate agent's recommendations, you may miss out on a golden opportunity to sell your house. A real estate agent provides housing market analysis and insights, along with honest, unbiased recommendations about how to overcome a wide range of home selling hurdles.
Furthermore, a real estate agent always has a home seller's best interests in mind. This housing market professional also is available to respond to a home seller's questions, guaranteeing that a home seller is fully supported at each stage of the home selling journey.
Ready to sell your house? Collaborate with a real estate agent, and you should have no trouble achieving your desired results.
As a first-time home seller, it can be tough to establish a competitive price for your residence. And if you set a price that is too high or too low, you risk alienating potential homebuyers or missing out on an opportunity to maximize the value of your house.
Ultimately, there's a lot to think about as you determine the price for your residence. Lucky for you, we're here to help you take the guesswork out of pricing your home, regardless of the current housing market's conditions.
Let's take a look at three tips to help first-time home sellers set a competitive price for a residence.
1. Study the Real Estate Market
How does your residence stack up against similar houses that are currently available in your city or town? Study the real estate market, and you can find out how your residence compares to the competition.
Evaluate the prices of currently available houses in your city or town. With this housing market data in hand, you can learn how your home ranks against the competition and establish a price range for houses that are similar to your own.
Also, examine the prices of recently sold houses in your area. By doing so, you can find out whether you're about to enter a seller's market or a buyer's market and map out your home selling journey accordingly.
2. Perform a Home Appraisal
A home appraisal can make a world of difference, particularly for a first-time home seller who is uncertain about how to upgrade a residence.
During a home appraisal, a property inspector will examine a home's interior and exterior. After the appraisal is finished, this inspector will provide a home seller with a report that outlines his or her findings.
Take the results of a home appraisal seriously – you'll be glad you did. The appraisal enables a home seller to learn about a home's strengths and weaknesses, and as a result, discover the best ways to transform assorted weaknesses into strengths. Then, a home seller can perform myriad home upgrades and may be better equipped than ever before to optimize the value of a house.
3. Consult with a Real Estate Agent
A real estate agent analyzes housing market patterns and trends closely and is happy to share home selling insights at any time. Thus, this housing market professional can help a home seller establish a competitive price for a home from the get-go.
Moreover, a real estate agent will promote a home to the right groups of homebuyers and work with a home seller at each stage of the property selling journey. He or she will even negotiate with homebuyers on a seller's behalf to increase the likelihood that a seller can get the best price for a residence.
When it comes to selling a home for the first time, there is no need to leave anything to chance. Use the aforementioned tips, and a first-time home seller can set a competitive price for a house and increase his or her chances of a quick home sale.
If you receive an offer to purchase from a property buyer and decide to submit a counter-offer, it is important to err on the side of caution. Because if your counter-proposal fails to meet a buyer's expectations, you risk missing out on the opportunity to sell your house and maximize your home sale earnings.
When it comes to reviewing an offer to purchase and submitting a counter-proposal, it helps to prepare as much as possible. Fortunately, we're here to help you perform a full analysis of a homebuying proposal and ensure that you can submit a counter-offer that matches the expectations of both you and a buyer.
Now, let's take a look at three tips to help you put together a "fair" counter-proposal to a buyer's offer to purchase your home.
1. Use Housing Market Data to Your Advantage
Take a look at local housing market data – you'll be glad you did. If you take a data-driven approach to craft a counter-offer, you may be better equipped than ever before to put together a counter-proposal that meets the needs of all parties involved in a property sale.
Analyze the prices of recently sold houses in your city or town that are similar to your own. Furthermore, find out how long these residences were available before they sold. With this housing market data in hand, you should have no trouble crafting a fair counter-proposal.
2. Consider the Buyer's Perspective
As you examine a buyer's initial offer to purchase, think about why this individual chose to submit the proposal. Try not to get emotional if you feel the offer is too low; instead, think about how you can work with a buyer to find common ground.
Oftentimes, it helps to maintain open communication with a buyer. If you put together an counter-proposal that accounts for the buyer's perspective and keep in touch with this individual, you and a buyer may be able to work together to come to a fair agreement.
3. Consult with a Real Estate Agent
If you are unsure about what to propose as part of a counter-offer, there is no need to stress. In fact, if you collaborate with a real estate agent, you can get the assistance you need to craft a counter-proposal that may lead to an instant "Yes" from a buyer.
Usually, a real estate agent will inform you about an offer to purchase your home and provide recommendations and suggestions as you craft a counter-proposal. He or she also will negotiate with a buyer's agent on your behalf. And if you ever have concerns or questions during the property selling journey, a real estate agent is happy to address them.
Allocate time and resources as you craft a counter-offer. If you consider the current state of the real estate market and the buyer's perspective, you could increase your chances of putting together a counter-proposal to close a deal on your home. Perhaps best of all, you can submit a counter-offer that allows both you and a buyer to achieve your respective goals faster than ever before.
Deciding whether to accept a buyer's offer to purchase your house can be exceedingly difficult. Fortunately, we're here to help you assess the pros and cons of a homebuying proposal and ensure you can make an informed decision.
Now, let's take a look at three tips to help you determine whether to accept an offer to buy your home.
1. Examine the Current Housing Market
The current housing market may play a role in your ability to stir up interest in your house. In addition, the real estate sector may impact whether you're able to receive multiple home offers at or above your residence's initial asking price.
To understand the present state of the housing market, you should look at the prices of recently sold houses in your city or town. If houses are selling quickly, you may be operating in a seller's market. Or, if houses linger on the market for many weeks or months before they sell, you may be operating in a buyer's market.
Ultimately, a seller's market may lead to many offers on your house in the foreseeable future. If you receive an offer that fails to match your expectations when you're operating in this type of market, you may want to decline or counter the proposal in the hopes of receiving superior offers down the line.
On the other hand, it usually requires hard work and persistence to sell a house in a buyer's market. And if you receive a competitive homebuying proposal in a buyer's market, you may want to accept this offer.
2. Consider Your Home's Condition
The condition of your house may prove to be a critical factor as you debate whether to accept an offer. If you assess your house's condition closely, you may be better equipped than ever before to make the best-possible decision about a homebuying proposal.
If you feel a home offer is fair based on the current condition of your house, you may want to accept the proposal. Conversely, if you feel a buyer has submitted a "lowball" proposal based on your home's condition, you should not hesitate to reject or counter this offer.
3. Consult with a Real Estate Agent
When it comes to evaluating a homebuying proposal, it generally is a good idea to collaborate with a real estate agent. This housing market professional can help you weigh the advantages and disadvantages of accepting an offer and determine the best course of action.
Typically, a real estate agent will present a buyer's offer to you and offer recommendations about how to proceed with this proposal. As you assess all of your options regarding a homebuying proposal, a real estate agent will be able to respond to any concerns or questions that you may have too.
Ready to take the guesswork out of reviewing a homebuying proposal? Use the aforementioned tips, and you can streamline the process of deciding whether to accept an offer to purchase your home.
No one should be forced to deal with a long, complicated home selling journey. Fortunately, there are many things a seller can do to navigate the property selling journey like a pro.
Now, let's take a look at three tips to help you enjoy a quick, profitable home selling experience.
1. Analyze the Housing Market
You may have entered the housing market in the hopes of enjoying a seamless property selling experience. Yet the real estate market offers no guarantees. But if you analyze the housing sector closely, you can gain the insights you need to price your home appropriately based on the present market's conditions.
Take a look at the prices of available homes in your city or town that are similar to your own. This housing market data can help you see how your residence stacks up against the competition. It also may help you determine how to price your residence so you can ensure it garners lots of attention from potential buyers.
Furthermore, don't forget to assess the prices of recently sold houses in your area, as well as how long these residences were available before they sold. If homes are selling quickly, a seller's market may be in place. Or, if homes linger on the real estate market for many weeks or months, the current housing sector may favor sellers.
2. Perform Home Upgrades
For those who want to speed up the home selling process, improving your house's curb appeal is ideal. Because if your home boasts amazing curb appeal, you can make it easy for buyers to fall in love with your house.
To bolster your residence's curb appeal, you should mow the lawn, repair any damaged siding and perform other home exterior improvements. That way, your house is sure to impress buyers as soon as they see it for the first time.
In addition, allocate time and resources to transform your home's interior from drab to fab. If each room of your home dazzles, buyers will have no trouble envisioning what life may be like if they purchase your house.
3. Hire a Real Estate Agent
Generally, it helps to hire a real estate agent if you are selling your home. And if you have a real estate agent at your side, you can quickly and effortlessly promote your residence to the right groups of buyers.
A real estate agent will offer recommendations to help you upgrade your residence's interior and exterior, set up home showings and open house events and much more. Plus, if you are ever unsure about how to proceed along the property selling journey, he or she is happy to offer home selling advice.
For those who prepare for the home selling journey, it may not take long to sell a house. If you take advantage of the aforementioned tips, you can plan ahead for each stage of the property selling journey. As such, you will be able to navigate this journey like a pro.