preparing for the market
Determine The Reason For Selling
It is often more emotional to sell a home than to buy a home, and the reason for selling your home may be a determining factor in the urgency of the sale. The urgency may also have an effect on the price of the property.
The Cost of Selling
It is very important to first calculate the expenses that may be incurred while selling your home. This knowledge is absolutely necessary because it helps you to determine a good price for the house, as well as the potential profit that you can realize.
The cost of selling your home will include things like commission to be paid to the agent, property inspection repairs, and more. Be sure to communicate with a professional before starting the process so that you are not left uninformed.
Finding the Right Value
The most important factor when putting your home on the market to sell is setting the right price. How can you determine what your home is worth? Ultimately, the price a buyer is willing to pay! One of the key ways to compare your home to others on the market is with a Comparative Market Analysis Report, or "CMA". This report gives you information about homes similar to yours in size, amenities and location that are currently offered for sale, pending, have sold, or were listed but expired.
Research and Strategize
Knowing exactly what you have to work with will go a long way toward helping you form a strategy to achieve your real estate goals. First, you need to educate yourself on everything that can affect the sale of your home and which elements you can actually control.
To help you gain a realistic perspective, here are a few factors to consider when reviewing your property.
Property location
The prevailing market conditions
Whether you’ve hired a professional real estate agent to help you
The number of desirable features within your home and how well they are displayed
The overall condition of your home
While some of these things cannot be controlled by the home seller—such as location and market conditions—other factors can. It is important to remember that even the most subtle of differences can play an important role in properly showcasing your home so that it inspires buyers to place an offer on it.
What Is Your Next Move?
Will you be moving out of state? Will you be moving into an apartment or buying another home? Are you able to purchase a new home without selling your existing home? Whether you're a first time home seller or selling your fifth home, it's important to understand what the next move is. Having a competent and successful real estate agent who has experience in helping sellers through these different scenarios can make the process less stressful.
