Anna Messina's Blog
You know that you want to sell your house. However, you're still unsure about how to determine a "fair" price for your residence.
Ultimately, setting a fair price for your home may be easier than you think – here are three tips to help you establish the best price for your house.
1. Study the Housing Market
The housing market constantly changes. Therefore, a buyer's market today may transform into a seller's market tomorrow.
As a home seller, it is essential to analyze housing market data. That way, you can identify real estate market patterns and trends and plan your home selling journey accordingly.
Check out the prices of recently sold houses in your city or town. With this housing market data in hand, you may be better equipped than ever before to differentiate between a buyer's market and a seller's market.
Also, don't forget to assess the prices of available residences that are similar to your own. This housing market data will help you see how your residence stacks up against the competition. It may provide you with the ability to narrow the price range for your home too.
2. Conduct a Home Appraisal
A home appraisal offers a valuable learning opportunity, particularly for a home seller who is uncertain about his or her house's strengths and weaknesses.
Typically, a home appraisal provides a home seller with plenty of actionable insights about the condition of his or her property. The appraisal often helps a home seller prioritize home improvements as well.
During a home appraisal, a property inspector will analyze a house over the course of several hours. After an inspector's evaluation is complete, he or she will provide a home seller with a report that offers comprehensive insights about a home's condition.
A home appraisal can provide a home seller with a better idea about how to price his or her house in its current condition. Then, a home seller can complete assorted home improvements that may help him or her boost a residence's value.
3. Collaborate with a Real Estate Agent
It never hurts to get expert support as you try to determine the best price for your house. Thus, collaborating with a real estate agent can make a world of difference for a home seller in any housing market, at any time.
A real estate agent can provide guidance as a home seller preps his or her residence for the housing market. This professional can respond to a home seller's price concerns and questions and help a home seller determine what constitutes a fair price based on the current housing market's conditions.
Perhaps best of all, a real estate agent will help you promote your residence to the right groups of homebuyers consistently. As a result, he or she can help you stir up plenty of interest in your home – something that may lead to multiple offers.
Ready to list your residence? Use these home selling tips, and you can determine the best price for your house.
As a home seller, you likely want to set a "fair" initial asking price for your residence. Because if you fail to do so, you risk pricing your home outside of your target buyer's price range. Perhaps even worse, you risk pricing your house too low – something that may cause you to miss out on the opportunity to maximize your home sale earnings.
Ultimately, there are lots of things that you can do to ensure you establish a fair initial asking price for your residence, and these include:
1. Study the Local Housing Market
For home sellers, it is important to perform plenty of research before you list your residence. If you assess the local housing market closely, you can obtain insights that you can use to set a fair initial asking price for your home.
Evaluate the prices of available houses in your city or town that are similar to your own. This will help you determine the price range for comparable houses in your area.
Also, find out how long some of the recently sold houses in your city or town were available before buyers purchased them. This can help you differentiate a buyer's market from a seller's market so you can price your house appropriately.
2. Conduct a Home Appraisal
A home appraisal delivers immense value, as it enables you to receive a property valuation. Once you have a property valuation in hand, you may be better equipped than ever before to determine how to price your house.
In addition to a home appraisal, you may want to conduct a house inspection as well. During a house inspection, a property expert will review your home and identify any underlying issues. You then can use a house inspection report to prioritize home repairs and upgrade your residence before you add it to the local real estate market.
3. Work with a Real Estate Agent
As you search for ways to get the best price for your home, you may want to hire a real estate agent. In fact, if you have a real estate agent at your side, you can receive comprehensive support throughout the house selling journey.
A real estate agent will learn about your home and help you determine exactly how to price it. Next, he or she will promote your residence to buyers. And if a buyer submits an offer to purchase your residence, a real estate agent will help you decide whether to accept, reject or counter this proposal.
Furthermore, a real estate agent is a home selling expert who is happy to share his or her housing market insights with you. If you ever have concerns or questions as you navigate the house selling journey, a real estate agent can address them.
Setting the right price for your home sometimes can be difficult. Thanks to the aforementioned tips, you can establish a fair initial asking price for your residence. As a result, you may be able speed up the home selling journey and optimize your house sale earnings.
Want to sell your house? You're not alone, as many home sellers across the country will allocate significant time and resources to ensure that their properties stand out from the competition.
Ultimately, the steps you take before you list your residence may dictate homebuyers' interest in your house. And if you prepare your home accordingly, you may be able to streamline the home selling process.
So what does it take to get your house ready for the real estate market? Here are three steps that every home seller should follow.
1. Remove Clutter
Clutter is an eyesore that home sellers can live without. Thus, you'll want to spend some time getting rid of clutter before you add your house to the real estate market. Because if you don't, you risk alienating potential homebuyers as soon as they enter your house.
To de-clutter effectively, place any personal belongings in storage. This will allow you to free up space quickly and effortlessly.
Also, if you need to de-clutter in a hurry, you may want to consider hosting a garage sale. By doing so, you can sell excess items for a quick profit.
2. Clean Up Your Living Space
A clean home is a beautiful home, and a beautiful home is one that is ready to sell. Therefore, cleaning up your living space can make a world of difference in a competitive housing market, especially for those who want to accelerate the home selling process.
When it comes to cleaning your living space, go above and beyond the call of duty. Mop the floors, wipe down the walls and ensure that your house looks great inside and out.
Remember, you only get one chance to make a first impression. But if you dedicate the necessary time and resources to clean up your living space, you should have no trouble generating substantial interest in your home as soon as it hits the real estate market.
3. Hire a Real Estate Agent
Let's face it – selling a home can be stressful. Lucky for you, real estate agents are available to help you alleviate stress and take the guesswork out of listing your residence.
An experienced real estate agent understands what it takes to sell a house in any real estate market, at any time. This real estate professional will promote your home to the right groups of homebuyers, set up home showings and host open houses. Plus, he or she will go the extra mile to help you maximize the value of your residence.
Perhaps best of all, a real estate agent is a housing market expert. This professional will be able to keep you up to date about any offers on your home and provide recommendations and insights throughout the home selling process. Also, if you ever have questions about selling your home, your real estate agent will be happy to address your queries at any time.
Employ a real estate agent to help you sell your home, and you can get the most out of your home selling experience.
When you put your home on the market, it would be nice if you could just put a “For Sale” sign out front, then the home would magically sell. Unfortunately, that’s not how it works. Most home searches begin online today. Then, buyers move to open houses and private home showings. Whether you live in a condo, townhouse, or a single family house, there’s ways that you can increase the amount of traffic to your home showing. The more people that see the property in person, the more likely someone is to buy it! You’ll need to work with your realtor to effectively market your home and make it easily available for home showings.
Don’t Require That Your Agent Be The Only One Who Shows The Home
The MLS is where properties for sale are listed and how realtors help their clients find homes. The listing should state that you have a lockbox available to allow other realtors to get into the home with a client. They will call first in order to set up an appointment for a showing. Also, don’t be restrictive for your showing times. Of course, your home won’t be available 24 hours a day, but you need to be flexible. Work with your realtor to set appropriate times for potential buyers to do walkthroughs.
Outside The Box Marketing Strategies
Aside from simply listing the home and posting it on social media, try other marketing methods. Maybe you can do some direct mailing to the neighborhood in order to announce that the home is for sale and showings are available. You can also put ads for the home showing in the local newspaper, on Craigslist and on Facebook message boards.
Don’t Forget The Buyer’s Agent Commission
Most likely, your listing agreement states that the buyer’s agent and the seller's agent are splitting the commission on your home 50/50. You can raise the amount of the commission and give the buyer’s agent a higher percentage to make the home more attractive to both realtors and buyers. Realtors are more likely to want to show the home, if they have a little extra incentive to bring clients to your home for sale. The money you get from the sale of your home is yours, so use a little of it to get your home sold faster, possibly for a better price.
Organize A Neighborhood Open House
If there are a few other homes in the neighborhood for sale, ask your realtor to try and coordinate with other agents to hold all of the open houses during the same hours on the same day. Real estate agents tend to love to work together because it gives mutual benefits to both parties. This strategy will attract a larger crowd because people who attend one open house will drive by with curiosity, or notice how close the open house listings are together and plan to visit all of the showings during that day.
If you plan your home showings right alongside your realtor, you should have your home sold in a timely manner to the right buyer for a great price.
If you recently sold your house, you may have only a short amount of time to sell some of your large, heavy belongings before moving day. Among these items likely are the couches, chairs and other furniture that you have collected over the years.
Ultimately, selling furniture prior to your move can be quick and simple – here are three tips to help you find furniture buyers and maximize the value of your furniture.
1. Establish a Competitive Price
A competitive price for a dining room table, bed or other home furniture can make a world of difference. If you establish an aggressive price from the get-go, you should have no trouble stirring up interest in your furniture from many potential buyers.
Consider the age and condition of your furniture before you set a price for it. If your furniture is only a few years old and remains in great shape, you may be able to fetch a lofty sum for it. Comparatively, if your furniture shows signs of wear and tear, you may need to lower your pricing expectations.
It often helps to be flexible with the price of your furniture as well. And if a furniture buyer makes an offer that falls below your initial asking price, you may want to consider all of your options closely to determine whether to accept, reject or counter this proposal.
2. List Your Furniture Online
Craigslist and other online marketplaces make it simple to list your furniture on the web in just seconds. Then, you can sit back and await responses from potential furniture buyers.
If you decide to list your furniture online, be sure to include high-resolution photos. If your online posting includes photos that show off the quality of your furniture, you can increase the likelihood of a quick, profitable sale.
Furthermore, incorporate plenty of details about your furniture into your web posting. With an informative and engaging furniture description, you can make it easy for a potential buyer to determine whether your chair, ottoman or other furniture is the right choice.
3. Host a Yard Sale
A yard sale offers a valuable opportunity to sell furniture, as well as a variety of other big and small items. If you allocate the necessary time and resources to plan ahead for a yard sale, you can improve your chances of optimizing your profits.
You also may want to post flyers to highlight your furniture to neighbors. These flyers can help you showcase your furniture to individuals who won't have to travel too far to pick it up.
Don't forget to share information about your furniture with family members and friends too. These loved ones may even be able to share details about your furniture – along with other items that you plan to sell – with their friends on social media.
Lastly, when it comes to selling furniture, it usually helps to collaborate with a real estate agent. In addition to helping you sell your home, a real estate agent can provide expert recommendations to help you get rid of furniture prior to moving day.