Real Estate Agent
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The NAR publishes some great data every year in regards to housing expectations.
New housing starts are only now returning to levels seen previous to the last major housing downturn, resulting in low inventory conditions that persist in single family home resales. Expect home prices to continue to climb throughout 2018.
Whether you are selling in a hurry, or selling at your convenience, be aware of the major influences that the market and the terms of your sale can have on the resale value and amount of money you keep in your pocket.
Determine an accurate fair market value
Take the time to work closely with a reputable buyers agent who can create a thorough Comparative Market Analysis for you. You’ll need to get a good look at comparable properties in your area that have been appraised recently.
Find out what kind of buyer your property will draw
This will have an effect on what kinds of repairs you may elect to do, as well as determine what kind of financing a buyer can utilize when purchasing the home.
Get a pulse on the overall market conditions
Home sale’s ratios, buyer activity levels, and neighorhood competition can all influence the value of your property, as well as how long it may be on the market.
Perform all improvements that have a net positive on your resale value
Regardless of home condition, there are always improvements that can positively influence your re-sale value. Smells are highly important to focus on, as well as cleanliness.
Choose the right agent for your transaction
A passionate, knowledgeable local expert who intimately knows your neighborhood and market is important. Equally important is their communication, organization, and timeliness.
Prepare your home for those buyer showings
The cosmetic appeal of a property highly influences it’s value. To the untrained eye (like your average buyer), cleanliness is a proxy for how well the home was cared for. Be sure to send the right message with a bright & clean experience free of unwanted odors.
Get feedback from every buyer if possible
Your buyer’s agent can typically follow up with agent’s who show your home to their clients. Get feedback on the home condition, showing highlights, and make changes if needed to improve desirability.
You‘ll need a credit report to make sure your score and reporting are accurate. Work directly with a lender on your credit score. They can help provide recommendations, work with scoring agencies, and improve your score when you obtain your loan.
Meet your average first time home buyer
If you are selling a home that would make a good first time home purchase in the area, you’ll want to better understand today’s first time home buyer needs.
20% of consumers overall are actively looking to purchase their first home.
46% of millennials will be looking to buy their first home in the next 1-2 years.
38% of hispanics are actively looking and planning to buy their first home in the next 1-2 years.
Home ownership is one of the largest obligations you can place on yourself, and with it comes a slew of costs and responsibilities. Even when selling your home, you may want to consider which investments to make in order to get the most out of your transaction.
When selling a home, it’s important to compare properties in your area to better understand what a competing property may offer buyers in value and convenience. You may want to consider some of the following upgrades to add value and interest to your home once it goes on the market.
A national survey by Better Homes & Gardens Real Estate found that baby boomers are providing financial support to help their children and grandchildren become homeowners.
There is no more crucial time in your home sale than when you are considering multiple offers and exploring their various terms. Not all offers are equal, and the highest priced offer is not necessarily the best overall offer. The right offer to accept is one that incorporates both highest price and the best terms.
FSBOs accounted for 8% of home sales in 2016. The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales
Remember, the point of selling your property is to sell it for the most you possibly can. This is heavily aided by the marketing reach that a real estate agent can offer, and motivated buyers will typically see an agent has having more credibility when compared to a FSBO (For sale by owner).
The more exposure through marketing and onsite visits from participating agents will result in a better chance of receiving multiple offers on your property, which will help add leverage when selecting one that most accurately meets your goals.
Buyers increasingly are utilizing real estate agents and starting their searches for property online. A listing represented on the MLS in your area will increase the effectiveness of marketing efforts.
Explaining your closing costs
Your total net proceeds are reduced by a number of costs that are typically associated with a property sale. It’s important to know the basics about these. It is recommended that you sit down with a real estate agent who can walk you through a net proceeds estimate to determine your equity at close of escrow.
Despite closing escrow marking the end of the property sale process, it also marks the beginning of an ongoing relationship. Keeping in touch with the agent allows you to continue to use this value able resource of information whenever you need.
Maintaining an ongoing client relationship is just part of an overall commitment to provide a level of service well above and beyond expectations. Your agent relies on word of mouth referrals for additional business, and good referrals allow the agent to devote more time to helping clients and less time to finding them. If your experience is amazing, be sure to tell your friends!
I greatly enjoy working with sellers looking to relocate, move up or sell. If you are considering a home sale in the near future, let us know in the form below.