Selling a house can be time-consuming and emotionally taxing. It is one of the biggest monetary transactions people make in their lives, and that’s a reason good enough to know about the sagacious buyer, trends in the real estate market and strategies to fetch the best price. Strangers will come poking into a house, criticize the place which is more than a mere four-walls-one-roof structure to the seller and to top it all, offer a price much lower than what the seller thinks it’s worth. Whether a first-time seller or one with some experience, here are tips from real estate experts which should be kept in mind when selling a house.
Pick a suitable agent
According to a report from the National Association of Realtors (NAR), sellers who don’t hire an agent tend to undervalue their property, underselling it by as much as 20 percent. Most home buyers start their search online and won’t visit a house if its listings aren’t captivating. Choosing a realtor who knows the neighborhood well is vital. Assessing an agent’s online marketing techniques, knowing their reputation and their trustworthiness is a must.
Devise an effective marketing strategy
Experts say that more than 50 percent of buyers know within the first visit if a house is right for them. Clean and declutter it and hire a professional photographer to take stunning pictures of the listed property. Shoot a small video of the house and its neighborhood telling prospective buyers those bits which cannot be fathomed seeing photographs. Staging the exterior is equally important. Making the house open for visits is also a significant part of the strategy. Make it available for all daylight hours.
Be realistic about pricing
Buyers these days are savvy and know about comparable sales. Sellers should ask their agents to provide them with sales prices of 2 or 3 houses that were sold in their neighborhood in the last few days and then pitch for a price 10 percent to 15 percent below these. Buyers are well aware that they are in the driver’s seat and it is in the seller’s best interest to know about competitive pricing.
Put forth some condition
Standing out in the crowd means that sellers have to beat the competition stating a condition. Consider doing a pest management program, which could include a termite inspection or a fire ant control. Advertising a non-existent pest repair bill can give an edge over other competitors. Also, sellers should make sure that jammed door knobs, scratched off paint, leaky faucets et al. should all be fixed before they start showing the house. Hiring a home inspector could be a good option.
De-personalize
Putting away personal memorabilia like family photographs, religious decor, and those paintings is important. Stage the house the way a potential buyer would want to see. The emotional attachment should not get in the way of making right decisions. Sellers should note that buyers tend to visualize a house as their own – and it’s difficult to imagine it with the personal stuff of someone else around. Pretending like they are moving out, sellers can distance themselves from emotional aspects which come with selling a property where many fond memories have been made.
The bottom line is to accommodate all potential buyers even if it is inconvenient. Sellers should prepare themselves for less than ideal scenarios; the house may sit on the market longer than they expect or they may end up signing a contract with a buyer who is unqualified to pay for the property or they might end up with an untrustworthy broker. Experts also suggest sellers give careful thought to where they will live next and how will they finance it. That way they will know what they can afford and can save themselves from surprises. These are complex contracts with huge amounts of money at stake; sellers should make sure it is winged up well.
