Area Real Estate News & Market Trends

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July 9, 2021

5 Mistakes When Selling Your Home

5 Mistakes to Avoid When Selling Your Home

Are you planning to sell your home, but you do not know what to do or what to expect? This is a common dilemma for home sellers, especially if it is their first time doing it. The first thing that you must know is that selling your home may not be that easy.

 

Home sellers usually committed different mistakes when selling their homes. These mistakes will significantly impact the sale outcome, which is why it is best that you must avoid them at all costs.

 

Here are the common mistakes most home sellers make that you might want to steer away from.

 

 

 

Selling the Property with Unrealistic Price

One of the common mistakes when selling your home is setting the price unrealistically. We get it, you are valuing your property based on your emotional attachment to it, but this is the number one mistake that you should avoid committing. Instead, you will need to appraise your property correctly according to its current market value and not based on how much you first bought it years ago.

 

It is advisable to hire an appraiser to correctly set the value for your property according to the current market price. If you want to sell your home , it is best to ensure that you are offering it at a reasonable price or else, you will have difficulty in selling it.

Ignoring Damages on the Property

As time went by, our home experienced normal wear and tear. Unfortunately, this is very common in houses, and these damages can affect your chance of selling your house. Maintenance issues turn off potential buyers and will decrease the value of your house.

 

If you want your house to be appraised at a high price, it would be best if you repair all the damages and only renovate some part of your house that needs renovation. It may cost you some money, but you must focus on investment return when you sell your property. To save money on renovations and repairs, it is best that you only focus on the things that matter. Repair the damages first before pushing through with the renovations.

 

Not Preparing the Home for the Sell

Some home buyers tend to show their property to potential buyers as is. They do not even take time to clean the house. You must remember that most people do not want to buy nor live in a house that is messy and dirty. To increase your chance of selling your house quickly and for the right price, you should prepare the entire property before making it available for buyers.

 

Staging is an important part of house selling. This is where you open your home to potential buyers and make it look comfortable to live in. When staging your home, it is best to put some decorations and new furniture that will enhance its interior appeal. This way, the buyers will notice it instantly during the house tour.

 

Additionally, it is advised not to only focus on staging the inside of your house. You as well make your curb look appealing. People will see your property's curb first as they enter the premises of your property. Make the buyer's first impression unforgettable so that they can not get their minds out of your home.

Choosing the Wrong Agent

Your real estate agent will also have a significant impact on selling your home. If you plan to get an agent to help you sell your home, you must choose the best. If your agent is good, your house will surely sell no matter what. It all comes down to how they will market and offer your home to the public. A well-experienced agent knows the ins and outs of home selling, and they already know what will work and what doesn’t. Thus, take time to search for an agent.

 

Do not hesitate to ask questions during your hiring process, and make sure to ask all the questions that concern you. The internet is the best way to search for the best real estate agent. It is also a good place to do your background check for each agent you are considering.

Not Being Flexible

Wanting to sell your home at the price that you want is understandable. However, even though you wanted to acquire that specific amount of money, it still pays to be flexible. Sometimes the market will not give you what you want, and opening your mind to the possibilities will help you sell your house on time.

 

Get Ready to Sell Your Home

Now that you already know what you will need to avoid, you are now ready to sell your home. Making sure you will not commit the said mistakes is easy. As long as you know that you are on the right track in selling your home, then you shouldn't worry at all.

Posted in real estate
June 30, 2021

Reasons why you need to work with a real estate agent

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Reasons Why You Need to Work with a Real Estate Agent

If you're planning to sell your house, you might think that you can quickly do so since many online platforms can help you with that. So you have successfully sold a phone or a computer in the past. What could go wrong, right? Well, a lot.

 

You may opt to sell your gadgets, appliances, etc., on online platforms, but it's more complicated in terms of real estate. Buyers nowadays want to be secured when buying a house.

 

This is obvious since this is the place where they will spend most of their time. Not only that, trying to sell your house on unregistered or unlicensed sites can spell trouble for you. If you got all of that and are now convinced that you want to sell your house the right way, then a good choice. Now, you might be wondering how you can sell your house.

 

This is where real estate agents walk in. The value of an experienced real estate agent should not be undermined as they know their markets and the current trend of the real estate industry. Instead, they can help you sell your house as fast as possible and can help you increase its market value. Here are some more reasons why you should work with a real estate agent.

Expertise

A real estate agent has expertise in how the market works and how the buyers think. Not only are they educated with the transactions of the real estate industry, but they are also good at talking to clients on a day-to-day basis. And as experts in selling homes, they can maneuver around buyer expectations and negotiate a price that works both for you and the buyer.

 

Of course, as real estate agents, they know the current market trends and can even lead you to a much more suitable market so that your house can be quickly sold. This is done through their access to local multiple listing services.

 

This helps them identify what the buyers need in a house and put up listings for your house in a market that they think is perfect. This will also help them gauge the current data on price listings to price your house according to the market.

Privacy and Fiduciary Responsibilities

Whether you're a seller or a buyer, every real estate agent has a responsibility to keep your trust and to move according to your best interests. This is what we call "fiduciary responsibility," where they are legally bound to put their client's interests first.

 

Of course, this duty includes privacy and confidentiality, which is in a contract with a real estate agent. This is unlike an FSBO seller who can leak the private transaction, which can be dangerous for you. Of course, it's the same for real estate agents, but at least, with them, your trust will not be wasted.

Negotiating

As everyone knows, you have to learn how to negotiate if you want to get the best prices for the house you're selling. If you're not confident in this aspect, having a real estate agent is truly convenient for you. From the starting offer process to the inspections, your real estate agent can handle that for you.

 

Not only that, real estate agents know the time frames involved when it comes to pricing strategies. As we all know, timing is an essential factor in selling, and real estate can surely handle that for you. Not having a real estate agent would make it harder for you to find the market and give you the struggle to find the right timing to sell your house.

 

And, of course, this is stressful. With real estate agents, you don't have to worry about the market, prices, and negotiations as they will do that all for you. And as we all know, when dealing with stressful buyers or sellers, we tend to remove our filters and just blurt out that their offers are pure garbage. So instead, the real estate agent will present some points to the buyer that their price is relatively low to the expected price or something to that extent.

They Have a Network

If your real estate agent has been one for a long time, you can safely assume that they have amassed a lot of contacts and have built a network of people who can make their jobs easier and, as a result, will also make the transactions of selling your house smoother.

 

For example, looking for contractors and inspectors during peak season can be challenging since most of them will be on a project. However, if your real estate agent has a network of contacts, you don't have to wait for them to look for the needed people for your house.

Something to Remember

Real estate agents are there to keep your selling journey much easier and have your house sell as soon as possible. They mostly have people that you need for the transaction to be fast and smooth for your convenience. However, always look for a real estate agent with experience and a network of contacts, which are two of the most critical factors you should look for in an agent.

Feb. 22, 2021

Weighing cost and options when your home business needs to expand