Mistakes are the stepping stone to learning; not in real estate though! This is one area of doing business where going wrong can cost you a truly regrettable amount. So get smart and learn the expert mantras of real estate that will put you in a strong position as a seller.
Following are some tips on home selling that novice real estate sellers cannot afford to miss:
Realtors are much more efficient in doing the chores involved in home selling than you probably are. It is always better to find a good agent and work in collaboration with him/her. If you are unsure about who can handle the job best, try inspecting other house sales as a buyer and check out which agent is doing the best job. You can also look for reviews on the web or ask your friends who have previously been involved in home buying/selling.
Go to a couple of open houses to a get a peek into what other sellers are targeting. This will give you some ideas on pricing and presentation. You will also be able to figure out what buyers expect when they come to see your house.
The asking price you decide to put forth prospective buyers is the maximum you will get in most cases. If there is a negotiation, the final price will most often be lower than the asking price. So never go too low with it. And at the same time, if the price you ask for is too high, you risk warding off clients. Therefore, be extremely precise while putting up an asking price.
Negotiations in real estate are always a part of the parcel. Most clients would bargain for the lowest possible deal. Be prepared for this and think of the lowest price under which you can strictly not go.
The first advertisement has the maximum impact; make it no less than perfect. Add pictures, shoot videos, elaborate on the location and the neighborhood – in short, do all you can to grab the attention of buyers.
A mechanical presentation doesn’t do much to distinguish your house from other similar ones. Try thinking of warm and friendly angles to make the home more appealing, for instance, you can make a small video on how good your life is in the neighborhood. You can talk about any positive features like greenery, easy public transport facilities, or proximity to malls, etc in a mellow tone.
Whether it is a tempting price, an exotic feature in architecture, an excellent location, or a flawless interior – assess what makes your house stand out from others in its category that buyers may be considering. Find out what makes your home unique and market it on those lines.
Invite your neighbors in the open house. They can give you an excellent networking platform by spreading the word to other friends or colleagues of theirs.
Don’t be rigid about the days and timings when your house is open for inspection by potential buyers. Schedule frequent visits even if it they cost you a bit of your privacy.
Happy weather is generally conducive to big purchases. Keep an open house day on a fair weather day and you’ll see a much better response than on a cold, gloomy day.
Never underestimate the power of presentation. The more likable your home seems the better influence it will have on visitors. Home staging may be required at times. And even if you are not getting the house professionally appraised, try to at least keep it tidy, polished, and inviting. Pay attention to the exteriors as well. A buyer will be attracted to the house that looks best among all other houses in the block.
Anything broken or out of order should be repaired before you open the house for visits and inspections.
This will make you come across as a more trustworthy and genuine person and buyers will be more likely to remember you than the other sellers they visit.
If you shift to your new residence before finalizing a deal on the previous one, you have two disadvantages:
a) it indicates to the buyers that you are eager to sell and they may play it to their advantage.
b) it makes the house look deserted and uninviting.
The business of real estate is a bowl full of surprises and unexpected situations. Be prepared for all sorts of situations when trying to sell a house. Don’t let frustration and impatience take the best of you while trying to make a deal.
Nothing can keep you from selling brilliantly if you proceed carefully and perform all these steps with dedication. Hope you have a pleasant experience!
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