Our Real Estate 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.
Selling a home may prove to be a long, arduous process. However, if you act as a reasonable home seller, you can identify home selling challenges and overcome such problems without delay.
Now, let's take a look at three tips that you can use to become a reasonable home seller.
1. Learn About the Housing Market
Real estate is complex, particularly for home sellers. Fortunately, many housing market resources are available to help you become a real estate expert.
For example, any home seller can perform an online search to evaluate the housing market in any city or town. Then, a home seller can use this real estate data to analyze the prices of houses that are similar to his or her own and price a residence appropriately.
Home sellers also should look at the prices of recently sold houses in nearby areas. That way, a home seller can find out whether he or she is preparing to enter a seller's or buyer's market and plan accordingly.
2. Try Not to Get Too Emotional
Let's face it – any home selling journey likely includes plenty of ups and downs. But a home seller who understands the best- and worst-case home selling scenarios may be better equipped than others to stay calm, cool and collected, even in the most challenging situations.
Although a home seller may expect his or her home to sell quickly, it is important to set realistic expectations before you list a residence. This will enable you to avoid potential pitfalls that otherwise can prevent you from achieving your home selling goals.
For example, a home seller who receives a home appraisal will have a good idea about the true value of his or her house. And if the home seller receives a home offer that falls well below the appraisal amount, he or she won't feel disappointed. Instead, this home seller should have no trouble politely declining or countering the proposal.
3. Consult with a Real Estate Agent
If you're unsure about how to price your home or promote your house to the right groups of homebuyers, it often pays to get expert help. Lucky for you, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you make informed home selling decisions.
A real estate agent possesses comprehensive housing market expertise and is happy to share his or her home selling insights with you. This means if you ever have questions about what to include in a home listing, your real estate agent can help you out. Or, if you are uncertain about whether to upgrade your house's interior or exterior, your real estate agent is available to provide honest, unbiased home improvement recommendations.
Becoming a reasonable home seller can make a world of difference in any housing market, at any time. Take advantage of the aforementioned tips, and you can quickly and effortlessly navigate the home selling journey.
Want to transform an ordinary garage sale into a successful one? Sell your electronics, and you can cut down on clutter, earn extra cash and speed up the home selling process.
If you plan to list your home in the near future, a garage sale offers a great opportunity to remove excess items from your house. Meanwhile, there are many electronics that you can sell to help stir up interest in your garage sale, and these include:
You may be in no hurry to get rid of your big-screen TV. However, it is important to remember the time and energy it may take to move your TV from one home to another.
Ultimately, you may need to hire a moving company if you want to guarantee your TV can make it to a new address. And if you decide to move your TV on your own, you may struggle to do so due to its size and weight.
If you intend to sell your TV during your garage sale, you should learn as much as possible about this device. That way, you can establish a competitive price for your TV.
Also, if you have a TV remote or DVD player that complements your TV, you may want to consider selling these items at your garage sale.
2. Video Game Console
After spending many hours playing video games, now may prove to be the perfect time to sell your favorite video game console.
Many garage sale shoppers search far and wide for video game consoles, which means you may be able to generate plenty of interest in your video game system. In addition, if you own a "retro" video game console, you may be able to turn a significant profit from it.
If you sell a video game console during your yard sale, ensure the device works properly and includes all associated cables and wires. Furthermore, perform online research to understand the true value of your video game console to guarantee you can price it competitively.
An old computer may take up space in your house. Fortunately, a garage sale makes it simple to get rid of this device before you sell your residence.
When it comes to selling a computer, it is always better to err on the side of caution. Thus, you should clear your computer's hard drive to remove any sensitive information from the device altogether.
Moreover, if you own a printer, mouse or other items that complement your computer, it may be worthwhile to sell them as part of a package deal.
Selling your electronics at a garage sale may be one of the first steps to eliminate excess items from your residence prior to adding your home to the real estate market.
Lastly, if you need extra help with selling your home, you should collaborate with a real estate agent. By doing so, you can seamlessly navigate the home selling cycle and boost your chances of a profitable home sale.
If you receive a "lowball" offer to purchase your house, your first reaction may be to respond with an immediate "No." However, it is important to evaluate any offer to purchase your house closely. Because if you weigh the pros and cons of rejecting an offer to purchase your home, you'll be better equipped than ever before to make an informed decision about any homebuying proposal you receive.
Now, let's take a look at three factors to consider before you reject an offer to purchase your residence.
1. Your Home's Price
What you may consider to be a lowball offer to purchase your home may actually be a competitive homebuying proposal – it all depends on the current state of the housing market. Thus, if you analyze the housing market, you can find out how your home's price stacks up against the prices of comparable houses and review an offer to purchase accordingly.
If you find your home's price falls in line with similar houses in your city or town, you likely have a competitive initial asking price in place. And if a buyer's offer to purchase your home falls short of your house's initial asking price, you may want to decline the proposal.
On the other hand, if your home is priced much higher than comparable residences in your area, you may want to adjust your home selling expectations. In this instance, you may find a lowball offer to purchase turns out to be a competitive homebuying proposal. As a result, you may be more inclined to accept the proposal based on the current housing market's conditions.
2. Your Home's Condition
Oftentimes, buyers will account for potential home repairs or upgrades they will need to complete if they acquire a house. This means a buyer may submit an offer to purchase below a seller's initial asking price due to the fact that a house may require assorted repairs or upgrades in the near future.
Take a look at the condition of your home – you'll be glad you did. If you find your home is in need of significant repairs or upgrades, you may want to consider these projects before you reject a buyer's offer to purchase your house.
3. Your Home Selling Goals
It generally is a good idea to start the home selling journey with goals in hand. That way, if an offer to purchase your house allows you to achieve your home selling goals, you can accept the proposal. Or, if an offer to purchase your house moves you further away from accomplishing your home selling goals, you can reject the proposal.
As you get set to complete the home selling journey, you may want to hire a real estate agent too. This housing market professional can help you assess any offers to purchase your house, at any time. By doing so, a real estate agent can help you determine how to proceed with an offer to purchase and ensure you can make the best-possible decision.
Looking to add your home to the real estate market? Ultimately, you'll want to do everything you can to maximize the value of your residence.
For home sellers, getting the best price for a residence may seem virtually impossible at times. Fortunately, we're here to help you plan ahead so you can get the best price for your house as soon as it hits the market.
Now, let's take a look at three tips to help you optimize the value of your residence, regardless of the current real estate market's conditions.
1. Examine the Housing Market
When it comes to the real estate market, it is important to understand how your residence stacks up against the competition.
Collect housing market data to learn about the real estate sector. Then, you can establish a "competitive" price for your home and boost your chances of a quick home sale.
Typically, home sellers should look at the prices of currently available residences in their cities and towns. This will enable home sellers to understand the local real estate market and establish a price range for houses that are similar to their own.
Don't forget to review the prices of recently sold houses as well. With this housing market data in hand, home sellers can find out whether they are about to enter a seller's or buyer's market.
2. Complete a Home Appraisal
Let's face it – what your home is worth today is unlikely to match what you initially paid for your residence. If you have completed a wide range of home upgrades over the years, the value of your residence may have increased. Or, if you failed to maintain your house's interior and exterior, your residence's value may have fallen.
A home appraisal will enable you to learn about your house's strengths and weaknesses. This assessment is performed by a professional property inspector who will take a close look at your house's interior and exterior. After the assessment is finished, the property inspector will provide you with a report that can help you price your house appropriately.
If you want to boost your home's value after a home appraisal, you can always complete various home interior and exterior improvement projects. That way, you can enhance your house both inside and out and move closer to maximizing the value of your home.
3. Consult with a Real Estate Agent
A real estate agent is a difference-maker for home sellers, and for good reason. This housing market professional will do everything possible to help you prep your house and ensure you can receive the best price for it – without exception.
Usually, a real estate agent will set up home showings and open houses, negotiate with homebuyers on your behalf and much more. He or she will even provide honest, unbiased home selling recommendations to ensure you can streamline the home selling journey.
Don't leave anything to chance as you get ready to add your house to the real estate market. Use these tips, and you should have no trouble getting the best price for your house.