With so many memories tied to your home, selling it can be an emotional and stressful time. To help keep perspective on the process, these three tips will help you navigate the sale of your home.
Hire a Professional
The home selling process is not an easy one. There are stories about sellers who sold their homes themselves, however in most cases it is more advantageous to hire a professional; you need to hire a Realtor. Like anyone else you would hire, you'll want to conduct interviews to determine which Realtor will be the right fit for selling your property. During that interview the Realtor should not only educate you on the home selling process, but they should be able to tell you what you need to do to get your house ready to put on the market and what you can expect throughout the process. The Realtor will be able to recommend various professionals should you need to have work done on the house. The number one skill set you are paying for when hiring a Realtor is their negotiation skills. Their job is to get you the highest amount of money for your house that the market will bear.
Know Your Market
The Realtor should educate you on your market place. Although the media portrays the real estate market in one way, the reality of your market could be completely different. Real estate is extremely local. Even in the same market it can be vastly different as you go from neighborhood to neighborhood or street to street. Your Realtor will provide statistics that will show you the sold prices of houses that are similar to yours and the number of days they were on the market. This will help you manage your expectations as to what you can expect when you put your house on the market. The price of the house is based on the location, the condition and the market. Many people feel that the seller or the real estate agent determine the sales price, but in truth, the market determines the price. Based on the information provided by the Realtor, the seller and the real estate agent set the list price, however you will know if the price is realistic rather quickly based on the number of people who attend the open house, the number of Realtors who schedule showings and if any offers are received.
It's Business, Not Personal
The seller should look at their home as a house when preparing it for market. It is important for the seller to detach from the house. The Realtor will use the word "house" instead of home, since "home" is much more personal. The seller doesn't have to remove all of their personal belongings, but they should pack up most of them. This is especially true of personal items that can distract a potential buyer. You want the buyer to see the house, not the stuff. If you are unable to rent a storage unit or storage pod, it is okay to have a place in the house where you stack boxes. Buyers know you are moving and expect to see some boxes. When it comes to negotiating the offer with the buyer it is key to remember that this is business, not personal. Your offering price is the list price. If the buyer submits an offer that is less than the list price just think of it as the buyers' offering price. This is just a part of the negotiating process.
Enjoy Less Stress
Having the right Realtor, attitude and information can make selling your house less stressful. When you know what to expect and what is expected of you, you can enjoy the process more and look forward to the future.
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