Larry Costa REALTOR®'s Blog
If your home is on the market, you may wonder why it hasn’t moved off the market. There are many ways to make adjustments to the price of your home, but if not done correctly, you could sabotage the sale of your home. Let’s say that you have your home as an FSBO (For sale by owner.) Buyers may wonder what’s behind the price of the house. Does the seller genuinely want to move the home to the sold category quickly? Why has the home been for sale so long?
You could face the same problems if you’re working with an agency. The difference is that s a seller, the agency is by your side, helping you to make the right decisions when it comes to pricing your home.
You need to be realistic when pricing your home as a seller. Of course, you want to make a return on your home. Of course, you think your home has great value. The critical point is that you need to understand the state of the market along with the neighborhood your home is located. So much goes into the pricing of a house.
Along with your agent, you can do some investigating to see where some improvements could be made in marketing your home. Look at the following:
How has the house been received on the MLS?
Are the significant benefits of the home highlighted?
How many open house opportunities did buyers have?
Are there good pictures of the house online?
Do the signs leading to the house stand out?
Can you add anything to the marketing of the home like a virtual tour?
While real estate agents have general guidelines as to how a home at a certain price point should be marketed, you can always be your own advocate.
The Consequences Of High Pricing
If you price your home too high, there are some consequences. Your home will stay on the market for an extended period of time if it's overpriced. Buyers will wonder why the house has been listed for so long, wondering if there’s something wrong with the property. Buyers will wait even longer to bite on the home in these circumstances because they are waiting for a price drop.
The best thing you can do in this circumstance is to take your home off the market. Work with your real estate agent. He can let you know whether it’s a good time to re-list the home. Perhaps you can make some improvements to the property in the meantime. A fresh listing and a clean look at the house may help buyers to find the property more easily at a price that pleases them!
Tired of living in the big city? No worries, as there is plenty of demand for residences in cities across the United States.
As a home seller, it is important to learn about a city's housing market. By doing so, you can understand what to expect before you list your property.
Ultimately, selling a home in the city can be a quick and simple process. Here are three tips to ensure you can add your residence to a city's real estate market and maximize the value of your house.
1. Check Out Comparable Residences That Are Currently Available
How does your home stack up against other houses in a particular city? Review comparable homes that are currently available, and you may be able to find ways to differentiate your residence from the competition.
Remember, an informed home seller understands the ins and outs of the local housing market. This individual will learn about his or her property's strengths and weaknesses, and as a result, discover ways to transform assorted home weaknesses into strengths.
Emphasize your city home's interior and exterior as you search for ways to enhance your residence. A clean, uncluttered home interior will make it easy for homebuyers to envision what life would be like if they purchase your house. Meanwhile, a dazzling home exterior will ensure your residence can make an unforgettable first impression on homebuyers.
2. Establish a Competitive Price for Your House
A competitive price can make a world of difference for home sellers in a big city. In fact, a home seller who prices his or her city home aggressively from the get-go may be able to streamline the home selling process.
To determine a fair price for a city residence, assess the prices of recently sold houses in your city. This housing market data will help you determine whether the current real estate market favors homebuyers or home sellers.
Also, don't forget to complete a home appraisal. This home evaluation will enable you to receive expert insights into problem areas throughout your home that you can correct before you list your residence.
3. Collaborate with a Real Estate Agent
A real estate agent is happy to serve home sellers in any way possible. This real estate professional knows what it takes to sell a city home and will allocate the necessary time and resources to promote your residence to the right groups of homebuyers.
With a real estate agent at your side, you should have no trouble stirring up plenty of interest in your city home. A real estate agent will set up home showings and open houses, promote your residence on social media and much more. Perhaps best of all, this real estate professional will respond to your home selling queries at any time.
Don't leave anything to chance as you prepare to sell your city home. Use these home selling tips, and you can increase the likelihood that you'll be able to maximize the value of your residence.
As a home seller, it is important to establish a competitive initial asking price for your residence. Yet determining the right price for a house sometimes is difficult.
If the price of your home is too high, for example, your residence may linger on the real estate market for an extended period of time. On the other hand, if the price of your house is too low, you won't be able to maximize your home sale earnings.
Ultimately, there are several things that you can do to determine the optimal listing price for your home, including:
1. Conduct a Home Appraisal
A home appraisal provides valuable insights that you can use to price your house competitively. If you conduct an appraisal prior to listing your residence, you can obtain a property valuation. Then, you can use this valuation to establish the ideal listing price for your home.
As you search for a home appraiser, be diligent, too. Employ a home appraiser who possesses comprehensive industry expertise and can perform a house evaluation at your convenience. By doing so, you may be better equipped than ever before to receive a data-driven house appraisal without delay.
2. Evaluate the Local Housing Sector
Take a look at the local housing sector – you will be happy you did. If you assess the prices of available houses in your city or town that are comparable to your own, you can use this information to see how your residence stacks up against the competition. Plus, this information could help you determine the optimal initial asking price for your residence – something that may lead to a successful house selling experience.
Don't forget to evaluate recent home sales in your city or town as well. This information can help you determine whether a buyer's or seller's market is currently in place.
3. Hire a Real Estate Agent
If you are unsure about how to price your residence, there is no need to stress. In fact, real estate agents are available in cities and towns nationwide, and these housing market professionals can make it easy to determine the optimal listing price for your residence.
A real estate agent typically will meet with you and learn about your house selling goals. Also, he or she can provide tips to help you upgrade your residence before you list it. A real estate agent can even offer a listing price suggestion.
Furthermore, as you navigate the home selling journey, a real estate agent is ready to assist you in any way possible. If you are uncertain about whether to accept a buyer's offer to purchase your residence, for instance, a real estate agent can provide an expert recommendation. Or, if you have questions about the home closing process, a real estate agent can answer them.
Want to optimize your home sale earnings? Use the aforementioned tips, and you can establish a competitive price for your house and increase the likelihood of enjoying a profitable home selling experience.
The home selling journey may prove to be long and arduous, particularly for those who fail to plan ahead. Fortunately, there are many things you can do to expedite the house selling cycle and quickly achieve your desired results.
Let's take a look at three tips to help you accelerate the home selling journey.
1. Understand Your Target Audience
You know you have a great home. Now, you just need to figure out who may want to purchase it. If you analyze the buyer's perspective, you can determine your target audience and map out the home selling journey accordingly.
Think about why you decided to buy your house in the first place. Also, consider any unique features that may make your home an attractive option to potential buyers.
If you assess the buyer's perspective, you may discover innovative ways to stir up interest in your home. As a result, you could reap the benefits of a fast, profitable house selling experience.
2. Craft an Engaging Home Listing
A home listing is important, as it enables you to introduce your residence to prospective buyers. Therefore, it is crucial to create an engaging home listing that captures a buyer's interest.
As you craft a home listing, it usually is a good idea to provide clear, concise details about your house. Furthermore, you may want to include pictures of your residence's interior and exterior to help buyers see the true beauty of your house.
In addition, you should include accurate information about your home in your listing. Because if you educate buyers about your home's features, you can help them make an informed decision about whether to pursue your residence.
3. Collaborate with a Real Estate Agent
For those who want to speed up the home selling journey, there is no reason to work alone. Lucky for you, real estate agents are available around the country, and these housing market experts can help you seamlessly navigate the house selling cycle.
A real estate agent understands what it takes to sell a home, regardless of the current housing market's conditions. He or she will teach you about all aspects of the housing market and help you create an effective property selling strategy. Plus, if you have concerns or questions throughout the home selling journey, a real estate agent is ready to respond to them right away.
Let's not forget about the assistance a real estate agent provides as you review an offer to purchase your house, either. Deciding whether to accept, reject or counter an offer to purchase your home sometimes can be difficult, but a real estate agent can help take guesswork out of this decision. In fact, a real estate agent can provide honest, unbiased recommendations to help you make the best-possible decision regarding a home sale.
Want to expedite the home selling journey? Use the aforementioned tips, and you should have no trouble selling your home without delay.
If you plan to sell a house, it can be easy to try to rush through the home selling cycle. However, doing so may do more harm than good, particularly for home sellers who want to maximize their profits.
Ultimately, a wait and see approach can be beneficial for a home seller. Some of the key reasons to consider taking a wait and see approach to selling a house include:
1. You can clean your house from top to bottom.
A messy home is unlikely to generate interest from large groups of homebuyers. Comparatively, a neat, tidy and pristine home is sure to stir up plenty of interest once it reaches the real estate market.
If you spend some time enhancing your house's interior and exterior, the benefits can be substantial. In addition to making your residence more attractive to homebuyers, you may be able to raise your chances of receiving offers at or above your initial asking price.
To clean your house's interior, you should spend some time mopping the floors, wiping down walls and ceilings and doing whatever you can to make each room look great. Meanwhile, to improve your house's exterior, you may want to mow the front lawn, trim the hedges and do everything possible to ensure your house has plenty of curb appeal.
2. You can conduct a comprehensive home appraisal.
A home seller who immediately adds a residence to the real estate market might not understand what his or her house is worth based on the current housing market's conditions. As such, this home seller risks pricing his or her house too high or too low.
Conversely, if you perform a home appraisal, you can set a competitive price for your residence from day one. This appraisal also will enable you to identify your home's strengths and weaknesses and find ways to transform assorted weaknesses into strengths.
Employ an experienced home appraiser to evaluate your house – you'll be glad you did. With a top-notch home appraiser at your side, you can receive the expert insights that you need to price your house appropriately.
3. You can discover the right real estate agent.
When it comes to selling a house, why should you be forced to work with an inferior real estate agent? Unfortunately, if you rush to add your residence to the real estate market, you may select the first real estate agent that you meet. And in this scenario, you risk making a poor choice.
On the other hand, a home seller who takes a wait and see approach can spend some time evaluating many real estate agents. Then, this home seller can make an informed selection and increase his or her chances of enjoying a successful home selling experience.
There is no reason to hurry through the home selling journey. Instead, deploy a wait and see approach, and you should have no trouble remaining patient and capitalizing on the right opportunities to maximize the value of your house.