Christine Metros Natale's Blog
A home seller must consider the initial asking price of his or her residence closely. Because if a home seller sets an unrealistic initial asking price, he or she risks alienating potential buyers.
Now, let's take a look at three tips to help you set a realistic initial asking price for your house.
1. Review the Local Housing Market
The local housing market may favor buyers or sellers. Fortunately, if you analyze the local housing sector, you can differentiate a buyer's market from a seller's market – or vice-versa – and price your house accordingly.
In a buyer's market, there is an abundance of quality residences and a shortage of buyers. And if you're operating in a buyer's market, you may need to price your house aggressively to stir up interest in it.
Comparatively, in a seller's market, there is a shortage of quality residences and an abundance of buyers. In a seller's market, you may be able to generate lots of interest in your house, even if you set an above-average price for it.
Regardless of whether you're operating in a buyer's or seller's market, you should assess housing sector data. Find out how your residence stacks up against available houses in your city or town that are similar to your own. Then, you may be better equipped than ever before to set a competitive initial asking price for your home.
2. Conduct a Home Inspection and Appraisal
By performing a home inspection, you can receive comprehensive insights into your house's condition. Following an inspection, you can prioritize home repairs. Plus, you can use an inspection report to help you determine how to price your residence.
In addition, you can conduct a home appraisal prior to listing your residence. Thanks to an appraisal, you can receive a property valuation. And as a result, you can use this property valuation to price your house appropriately.
3. Consult with a Real Estate Agent
A real estate agent understands the ins and outs of the housing market. Thus, he or she can help you establish the right price for your house.
Ultimately, a real estate agent is unafraid to be honest with a house seller. He or she will teach a seller about the housing market and provide unbiased recommendations about how to price a residence. Best of all, a real estate agent will promote a house to prospective buyers and ensure a seller can get the best price for his or her home.
Let's not forget about the assistance that a real estate agent can provide during a negotiation, either. A real estate agent is happy to negotiate with a buyer on your behalf. As such, a real estate agent can help you optimize your house sale earnings.
For a home seller who wants to determine the right price for his or her house, it helps to prepare as much as possible. If you take advantage of the aforementioned tips, you can establish a competitive initial asking price for your home and boost the likelihood of enjoying a fast, profitable house selling experience.
As a home seller, it sometimes can be tough to balance short- and long-term goals. Lucky for you, we're here to help you streamline your house selling efforts and ensure you can maintain your focus as you proceed along the property selling journey.
Now, let's take a look at three tips to help you stay on course after you list your residence.
1. Establish a Home Selling Timeline
A home selling timeline can help you take the guesswork out of selling your residence. This timeline enables you to determine what tasks you will need to complete as you navigate the property selling journey. Plus, it can help you get a good idea about how much time you will need to sell your residence.
Be flexible with your home selling timeline. Remember, unexpected problems may arise at any point during the home selling journey, and these issues may slow you down. But if you maintain flexibility, you can address any potential home selling hurdles and finish the home selling journey as quickly as possible.
2. Create Home Selling Goals
With home selling goals in place, you can achieve many milestones throughout the property selling journey. These goals can help you stay focused as you complete each step of the home selling process. They also enable you to enjoy a sense of accomplishment as you finish a wide range of tasks when you sell your home.
You can create as many or as few home selling goals as you'd like. As you set up goals, you should consider the steps that you'll need to complete as well. This may allow you to further accelerate the home selling journey.
3. Work with a Real Estate Agent
If you are unsure about what to expect during the home selling journey, you may want to find a real estate agent. Because if you have a real estate agent at your side, you can get the help you need to maintain your focus throughout the property selling journey.
A real estate agent understands exactly what it takes to sell a home in any real estate market, at any time. First, he or she will help you establish a home selling strategy. This housing market professional next will promote your residence to potential buyers and help you review any offers to purchase your home. And if you accept an offer to purchase, a real estate agent will make it simple for you to complete the final steps of the property selling journey.
Let's not forget about the expert guidance that a real estate agent provides, either. A real estate agent is happy to respond to a home seller's concerns and questions. As a result, a real estate agent will help a home seller make informed decisions as the property selling journey progresses.
Maintain your focus as you sell your home – use the aforementioned tips, and you can remain on track throughout the house selling journey.
Persistence may prove to be exceedingly important to a home seller. In fact, a persistent home seller may be better equipped than others to reap the benefits of a fast, profitable property selling experience.
Now, let's take a look at three tips to help you become a persistent home seller.
1. Analyze the Real Estate Market
Persistence and confidence often go hand-in-hand. And if a seller allocates time and resources to learn about the housing sector, he or she can build the confidence needed to remain persistent throughout the home selling journey.
Take a look at the prices of available houses in your city or town that are similar to your own residence. By doing so, you can see how your house stacks up against the competition and identify innovative ways to differentiate your residence from the pack.
Furthermore, it may be beneficial to look at the prices of recently sold residences in your area. This housing market data can help you determine whether you're preparing to enter a seller's or buyer's market.
2. Set an Aggressive Initial Home Asking Price
A persistent home seller will take a data-driven approach to establish a competitive initial asking price for his or her residence. That way, this seller can set an aggressive home price that will help his or her residence stir up plenty of interest as soon as it becomes available.
Conducting a home appraisal offers a quick, easy way to receive an expert property valuation. It usually only takes a few days to receive a home appraisal report. Once a seller has this report, he or she can use it to set an aggressive initial home asking price.
3. Hire a Real Estate Agent
Even a persistent home seller realizes that he or she may struggle to navigate the home selling journey alone. Thankfully, if you hire a real estate agent, you can receive comprehensive support at each stage of the home selling cycle.
A real estate agent is committed to helping a home seller enjoy a seamless property selling experience. He or she will work directly with a seller and keep him or her up to date throughout the house selling process. As a result, a home seller and real estate agent together can maximize the value of any house, at any time.
In addition, a real estate agent is resourceful and will do whatever it takes to promote a residence to the right groups of buyers. He or she will host open house events and home showings and provide a property seller with plenty of feedback. Best of all, a real estate agent maintains constant communication with a house seller. And if a seller has questions, a real estate agent is ready to answer these queries.
For home sellers who want to achieve the best-possible results, persistence is paramount. With the aforementioned tips, anyone can become a persistent home seller and boost the likelihood of a successful house selling experience.
If you want to sell your house and achieve the optimal results, it helps to plan ahead as much as possible. Lucky for you, we're here to help you get ready for the home selling journey.
Now, let's take a look at three tips to help you plan ahead for selling your residence.
1. Conduct a Home Inspection and Appraisal
What you originally paid for your house is unlikely to match your home's current value. Fortunately, you can perform a home inspection and appraisal to ensure that you can price your house appropriately.
During a home inspection, a property expert will examine your house both inside and out. This property expert will identify any underlying problems with your house, allowing you to address such issues before you list your residence.
Meanwhile, a home appraisal ensures that you can receive a property valuation based on the age and condition of your residence, as well as pertinent housing market data. This appraisal enables you to better understand how to price your house, enabling you to establish a competitive initial asking price.
2. Enhance Your House's Interior and Exterior
A dazzling home interior and exterior can make a world of difference for any home seller, at any time. If you dedicate time and resources to perform home upgrades, you may be able to boost the likelihood of a fast, profitable home sale.
To enhance your house's interior, you may want to remove as much clutter as possible from your home. That way, you can make it easy for homebuyers to envision what life may be like if they buy your house.
Furthermore, you should trim the front lawn, clear outdoor walkways and do everything you can to improve your house's exterior. Because with a stunning home exterior, your home's curb appeal will increase, making it more likely than ever before that potential buyers will fall in love with your residence as soon as they see it.
3. Collaborate with a Real Estate Agent
If you're uncertain about how to plan ahead for the home selling journey, there is no need to worry. In fact, you can hire a real estate agent, and this housing market professional is happy to help you get ready to sell your house.
A real estate agent is a housing market expert who will learn about you and your home selling goals. Then, this housing market professional can help you develop an effective plan to sell your house and maximize its value.
In addition, a real estate agent will serve as an expert guide throughout the home selling journey. He or she will help you craft an engaging and informative home listing, promote your house to the right groups of buyers and review any offers on your residence.
When it comes to selling a house, it may be a good ideal to plan ahead. If you use the aforementioned tips, you can create a home selling strategy that ensures you can quickly and effortlessly navigate the home selling journey.
All home sellers understand that there are some costs to selling a home, but not everyone realizes what they're expected to pay for (and how much the total will be). We'll look at the most common expenses and how they might affect your budget.
Real Estate Agent Fees
This is probably the first thing that comes to mind if you're selling a home. The standard rule is anywhere between 5 to 6% of the final sale price. Not all sellers will shoulder this cost, but the majority will. So if your home sells for $300,000, you should expect to hand over at least $15,000 to be split between the buyer and seller real estate agents. Please note that commissions can be negotiable, especially if you're selling in a popular neighborhood.
While none of these costs are strictly necessary, they can help you get your home ready:
- Repairs: If you're not planning to sell the house as-is, it's a good idea to spruce up the interior and exterior of the property. Even if you're only buying a few cans of paint and a roller, the costs can add up quickly.
- Home inspection: Buyers will typically do their own home inspection, but sellers who go above and beyond can give themselves an edge in a competitive market. If you're going out of your way to buy a home inspection, it can show you have nothing to hide. These inspections cost a few hundred dollars and may reveal structural problems that you were unaware of.
- Staging: Arranging your furniture to show off the best of the home can really inspire buyers to view its potential. Whether you dress up your home with cozy touches (e.g., cashmere throws, small bouquets, etc.) or more modern decorations, it can help attract the perfect buyer.
If you're moving out before you sell the house, you'll need to continue paying the utilities. You'll also need to check with your lender as to exactly how much you owe when you pay off the loan. Some lenders will charge prepayment fees upon early termination. You may also be asked to either pay or split the closing costs, especially if you're selling in a buyer's market. This can include anything from the title inspector fees to transfer costs. Finally, you may need to pay capital gains tax if your home skyrocketed in value or any lingering property taxes.
Some sellers end up paying closer to 10% of the total sale price of their home, a figure that can be difficult to swallow for many sellers. It's worth clarifying each cost so you always know what you're paying for.