If only it were that simple, home sellers would have wished for nothing more than a stress-free sale in which they listed their house, a serious buyer approached them, a deal was struck, cash and house keys were exchanged, and they smiled happily as they returned to their home. If only life were this easy. In reality, selling a house is a complicated process.
The following 6 tips will give you an edge in selling your fully-renovated home.
- Set a Time-Frame for the Sale
- Selling a home typically takes between two and four months, depending on the amount of available inventory and the state of the local market. Get a pre-listing home inspection done as soon as you decide to sell your house. This will allow you to see if the house has any structural or electrical issues. If repairs are needed, there's plenty of time to do so. Hire an experienced real estate agent with a proven track record to help you sell the house as soon as possible.
- When it comes time to put your house on the market, give yourself a month to clean, declutter, and stage it. Potential buyers can get a sense of what the house will look like if they view it after it has been properly staged. The picture taken from the staging should entice the viewer to visit the property.
- Use an Agent That Knows the Market
- Use the services of a real estate agent who has a proven track record of selling homes. With the widespread availability of the internet, you can now select realtors near you with a good sales history within your location. Examine their profile to determine how long they have been in the industry. Keep an eye out for where they market their listings and how much they have earned from such designation.
- An agent who has earned a specific designation is regarded as a huge success because it demonstrates that they have taken the time to learn and master that designation.
- Houses with a "For Sale by Owner" sign, or FSBO, are owned by people who want to sell their homes without the assistance of a real estate agent. The owner wishes to boycott the 5 to 6 percent commission that the agents would have received on the total sale of the house. This does not deter an agent who knows his trade. They can earn this fee by exposing your home to a larger audience and negotiating favorable deals for you.
- You, as the homeowner, will be responsible for marketing your home on your own, preparing it for sale, evaluating offers from potential buyers, managing all aspects of negotiations, and ultimately closing the deal. This is the result of your decision to boycott an agent. There's no need for a homeowner to handle the sale of their home on their own because the agent fee has dropped significantly.
- Abstain from Unimportant Upgrades
- It would be foolish to spend money on a costly upgrade without first determining how it would translate to a high ROI and what the inventory levels are in that area. If, for example, you're trying to break even, you have no business installing new granite countertops. It's a bad investment with a low return. An experienced real estate agent can be of great assistance in guiding your upgrade in the right direction because he has a good idea of what residents in your area want.
- If, however, you do in fact want to do some kind of upgrade, the kitchen and the bathrooms are the two areas that you should focus on the most. Such upgrades generally offer the best return on investment.
- Work with a Professional Photographer
- In this case, well-captured images are critical. They have a way of catching potential buyers' attention and causing them to picture themselves living there. This could spell the difference between a long-term listing and a quick sale. Work with an agent, find a professional photographer, and order real estate photo editing services to get perfect marketing images of your home to increase its online appeal.
- Put Your House on the Market
- The following tips would help attract buyers for a quick sale:
- Your primary focus should be on your home's online appeal. This is your first home showing.
- Keep it clean and stage it well. Excess furniture and personal belongings should be removed.
- Let someone else be the tour guide for potential buyers of the house. Stay out of the way and let them feel comfortable without constantly running into you.
- Your Price Should Be Realistic
- Check out the market value of other homes in the area to help you set a reasonable price. Buyers are less inclined to purchase an overpriced property. This principle holds true even in a competitive market. Pricing a home too high and then gradually lowering it is a major turnoff for buyers.
It is highly recommended that you give careful consideration to the aforementioned tips in order to avoid closing a bad deal that will result in a low return on your investment and leave you with feelings of regret. This is especially true for first-time sellers, who are likely to feel anxiety regarding closing a deal. Give it your complete attention even though it could take some time.