Getting maximum real estate exposure and understanding the local market is essential when transitioning from buying a home to selling one. As a homebuyer, your vision was to find the perfect property at a fair price. But, it’s different when selling your home. Beyond the immense paperwork and buyer quest, selling your home has a lot of emotional weight.
You must also be pragmatic and do whatever it takes to attract prospective buyers. Working with a great real estate agent plays a vital role. It builds the trust of prospective buyers with the right price. Here are steps home sellers can take to lure more home buyers and help generate multiple offers.
Take your time
Preparation and thorough research are paramount when selling your home. However, slowing down with the preliminary work is also crucial. According to statistics, 30% of home sellers wish they had given themselves more time to prepare before listing their homes on the market. This is because rushing everything results in bad decisions. So, do not allow this to happen to you.
The longer your property stays on the market, the more buyers will be interested. Patience also helps you get away with lowballing. These pay off in the long run as you take more offers and make the right decision.
Know the market price
A home appraisal is done to determine the exact and actual market price of a property. It shows if the home is worth the price the buyer is requesting. Therefore, getting an accurate home appraisal should be your priority. It is also the only way to ensure your home is valued accurately. Working with a real estate agent can be of great assistance. They are experts with local contacts to confirm your home appraiser.
Additionally, it is essential to have a strategic plan. Do you want to set a high listing price and decrease it later? Or do you want to put a fixed price? Your decisions might raise questions from the buyer’s side. So ask your agent for help to decide on a price strategy that will attract more potential buyers and help you get the most money.
Understand the real estate market
The real estate market is very complex, with seasons of highs and lows. Hence, it is important to know the climate of the market and understand who has the advantage. Understand that a lower inventory combined with quick sale rates gives the seller the advantage. While a higher inventory combined with slower sale rates favours the buyer.
But these often fluctuate based on the economic situation, national interest rates, location, and many other factors. Therefore, the only way to know when to list your home is to study the market and analyse the local trends. Your local market dictates the best time to put your home on the market.
Hire a professional real estate agent
Hiring a professional real estate agent reduces stress and saves time and energy. They arrange all the showings and navigate negotiations and help you sell your property at the desired price with absolute ease. Their expertise increases your home’s appeal to potential buyers. ““
An experienced real estate agent provides you with the peace of mind you need throughout the process. They know what buyers want and how to locate them. They also have more experience in price negotiations and can quickly sell your home faster and at a better rate than you can on your own. A professional real estate agent also uses their network of contacts to find trusted inspectors, contractors, attorneys, etc for you. They also handle all the paperwork.
Paying the standard real estate commission is highly recommended. But, you need to understand the average commission rate in your area and the advantages the agent you want to hire has to offer to make the right choice. Review the track record of your preferred agents. Then look at their commission rates and the benefits they offer. These help you make a decision based on the advantages that serve you best.
Prepare for the home showing
Home showings are when prospective buyers reserve a time to privately tour your home. It.is an opportunity to showcase your home and give buyers a chance to explore it. Interested buyers often arrange at least two, if not more home showings. It is important to ensure the home is arranged properly and well-cared.
Highlighting the areas you think are the most valuable is paramount during this process. Adding value while allowing buyers to feel comfortable is also of great importance. These ensure the buyer’s interest is not disrupted.
The bottom line
Real estate investment is one of the growing investment opportunities in the world today. Many people now buy and sell properties. But many things are entailed when selling your home. They include searching, understanding the market, responding to purchase offers, working with a knowledgeable agent, and following their advice.
