Tips for Sellers

  1. Make sure your property is in good working order. Hire a home inspector before you list your property so that you know what needs to be fixed. Problems with plumbing or any electrical issues, for example, can impact a home's price and appeal. Knowing that a house does not need any major repairs makes the property more appealing to buyers. Repairing electrical and plumbing problems can increase a house's value by 5 to 10%. If your property is substandard, you won't get competitive offers.
  2. Use an agent vs. do it yourself. Selling a home without an agent can be tempting so as not to lose commission from the sale, but experts say first-time sellers risk under valuing their homes. Homes that are listed for sale by owner tend to be overpriced and under marketed. Unless a homeowner is in the industry, they won't know what a buyer is looking for and may undersell their home by 20%. Sellers using an agent can pay less commission in some circumstances. There are different levels of services available with an agent, and commission rates are negotiable depending on the level of service. Experts agree that with the number of short sales and foreclosures in the market, sellers need help to make sure their property stands out. Real estate agents have networks that can help market a home and attract potential buyers. In other words, don't be penny-wise and pound-foolish.
  3. Choose the right agent. Most people choose agents based on referrals and the agent's trustworthiness and reputation in the market. Make sure that the agent knows your neighborhood. How an agent markets properties is also important. Hire someone with tech savvy for their own business. You want someone who's honest and truthful with you to get your house sold. A personal relationship with a Realtor can make a difference. If there isn't a rapport, then you're better off interviewing someone else. You need to feel comfortable about the person representing your interest.
  4. Be competitive with your price. The market decides the price and no one else. Experts recommend pricing a home competitively to maximize the benefit of home improvements and shorten the length of time a home is on the market. An inappropriately priced property will make a property sit on the market for up to a year or more, buyers will still be skeptical to purchase a property even if it comes down significantly after sitting on the market for a year. That property may eventually be sold way below market.
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