The reviving housing market in the US has shrunk the inventory and given the sellers an upper hand. Does this mean that you can ignore the oldest tricks in the book to sell your home faster? Probably not. To take full advantage of the sellers’ market, you need to follow some rules of thumb which apply in any situation irrespective of the market conditions or economic upheavals.
Rule Number #1 – Price your home logically
You should not get carried away by good news related to real estate markets that you may be hearing quite frequently these days. Though, it is true the housing market has looked up after suffering through hard times in the US, you still need to price your home logically. Determining the appropriate price is a bit tricky, especially if you are selling a home for the first time, but below are some tried-and-tested tips to help you do some quick calculations –
Expert advice – The easiest way to know how much your home is priced is to seek expert help. You should consider consulting with a real estate agent who has some experience of helping people sell/ buy homes in your neighborhood in Palm Beach County. If you need some help, check the Free Home Value Offer.
Research – Go to open houses in your neighborhood and see how they are priced. You may be able to come up with an appropriate price for your home depending on its size and location. Additionally, you could study the median price at which homes in your neighborhood were sold in the past six months.
Rule Number #2 – Know your buyers
Buyers in the real estate world can be divided into several categories, like single male, single female, single mothers, elderly or retired people, single families, married couples and unmarried couples. Buyers from each of these types have different tastes and look for particular facilities in a home. Try to figure out what type of buyers would be most interested in purchasing your home. You can identify the type based on some calculations related to the size of your home, neighborhood, location and proximity with good schools. For example, single mothers would like to live in an area which is safe. The neighborhood should have families with kids and access to quality schools.
Rule Number #3 – Marketing
Make sure that real estate agents in your area know your house is on the market. Send them sales flyers. Use the internet to list your house online. If your budget allows it, you can also consider advertisements in the newspapers. Identify strategic locations in your front yard as well as neighborhood to place signage. In a nutshell, use every marketing trick to make the world know that your home is up for sale.
Rule number #4– Stand out in the neighborhood and de-clutter your home
Make sure that the garden in the front yard is in excellent condition. De-clutter your home and remove every unnecessary item, be it furniture or personal belongings. Let the buyer visualize himself and his family living in your home. If it was stuffed with things like memorabilia, family photographs and decorative arts, you would most likely be blocking the buyer’s imagination.
Rule number#5 – know the legalities
You have to follow several standard procedures like writing a purchase contract, escrow services if you chose to put the earnest amount in the custody of a third-party and contingencies including home inspections. If you have a full knowledge about these procedural formalities, you would be in a better position to negotiate wisely and close on your house quickly.
For a first time home buyer, following all these rules may prove to be a bit overwhelming, but it is worth the time and efforts. These rules would ensure that you sell your home fast and get the best price for it.
Don’t want to try all these things alone?
Hire a Real Estate professional that will take care of the process from start to finish. If you go this route, be picky because you deserve to be!
Enjoy your day!