So, you have finally decided to sell your house. With market conditions being as they are, this can end as a huge success – or a great disaster. A successful sale depends on whether you can make the house appealing to the local housing market or not. Here are the main steps for you to do so.
Time Listing Your Home for Sale
The impulse to sell your house might be reasonably strong sometimes, mainly if you are in a hurry. Remember, to make the most out of this investment, you will have to find the right time for it – and ensure you have enough time to do so.
The actual period that it takes to sell your house might vary based on quite several factors. It may depend on the current market, the state of your home, and your ability to reach out to your potential buyers. These preparations can be rather lengthy – so, make sure that you allocate enough time for it.
The season is also significant – but not as much as many people seem to believe.
For example, Gary Malin, a real estate broker and president of Citi Habitats claims that “In the end, you can never perfectly time a market and circumstances – ideally spring and fall would be helpful, but if not I wouldn’t worry about it so much.” As such, it is the attention to the details of your home that matter the most.
Fix Any Known Issues for the Buyer
The more apparent problems a house has, the more it will take for it to sale – and the more its final sales price will drop. To get it off the housing market at a favorable price, you must make your house look its best – even if you may have to make some additional investments.
Know the Property’s Selling Points
If you want to get your home off the housing market as early as possible, you need to be aware of its selling point. What exactly makes your house stand out compared to the others?
Indeed, every home is unique – but what specifically makes this one more desirable? Is it placed in a good location? Does it have a unique feature that might attract buyers? Use these selling points to advertise your house.
Always Work with the Best Real Estate Agent
You might think that you’ll be able to sell your home by only posting an ad in a newspaper (or some similar method), but in truth, it will not be this easy. However, an excellent real estate agent will know exactly where to look for buyers so that your house is listed at a reasonable price. With a potential recession breathing down our necks, we should certainly take advantage of this.
Offer the Property for a Reasonable Price
You might be tempted to ask for a high sales price. However, if the amount is unreasonable, it will likely stay on the market forever. Also, the longer it sits on the market, the more it will scare away potential buyers. Each month that the house remains unsold, more money will go to the realtor – and your profits from selling the home might be even smaller than if you went for a lower price.
Final Housing Market Thoughts
Understanding the local housing market is essential if you want to sell your house at a reasonable price. Not only do you have to figure out the right time, but you should also put yourself in the mind of the buyer: if you were them, would you have bought the house?
Set your parameters with those thoughts in mind.