At some point in your life, a time might come when you decide to sell your home. You will have a lot of questions for such a task and will want all the help you can get from your real estate agent. To guide you through this process, there are some helpful and important suggestions that you’re recommended to follow in order to successfully sell your home.
One of the first things you should keep in mind when selling your home is the importance of staging it, which basically means creating the home’s impression for your potential buyers. Joseph W. Rand, Managing Partner and General Counsel at Better Homes and Gardens Rand Realty, has a piece of advice when it comes to staging your home.
“The most important staging tip I could give would be to follow a variation of the ‘Coco Chanel Rule,’” said Joe. “Coco Chanel said that every woman, on the way out the door, should take off one piece of jewelry. The same goes for homeowners — in every room, you need to remove at least one piece of furniture. Clear out the rooms and make them look bigger. You’re not selling furniture, you’re selling a home.”
When you’re showing your home, it’s not just the home that’s on display, but you as well. You’re going to spend a good deal of time interacting with your potential buyers, so you should always put out positive vibes and present an outgoing personality. You want to show that you’ve had years of happiness in your home, and that you’re now ready to sell your home to a buyer who would like that same happiness.
When it comes to technology, use it to your advantage. Social media sites, such as Facebook, can help you get the information out about your home. Although only a few homes sell by this word of mouth, and determined buyers are searching for homes with their agents or online, a little extra push can still benefit you.
With this technology, you’re going to have access to loads of information concerning the real estate market. Given how real estate is very local, make sure to mainly stay focused on your own market, rather than what’s going on nationally.
“Keep track of the competing properties in your market: what’s selling, what’s getting a price reduction, what’s coming off the market, that sort of thing,” said Joe. “The overall market statistics are interesting, but you want to drill down into the micro-market you’re selling into.
“Sellers need to listen to what the market is telling them,” said Joe. “Your agent doesn’t set the price for your home, and you don’t set the price for your home. It’s the market that sets the price for your home. So, if you’ve been on the market, and you’re not getting any action, you have to pay attention and adjust your price and marketing.”
When you want to sell your home, it’s important that you and your agent remain in touch during the process. Aside from your own research on the market, your agent is your other guideline through the real estate industry, so be sure to use that to full effect.
If your home is still on the market for longer than you expected, don’t get discouraged.
“Sit down with your agent and talk about what you can do to refresh the marketing, which might have gotten stale,” said Joe. “Most importantly, though, you need to review your pricing strategy. Have any competing properties sold since you hit the market? If so, what did they sell for? You need to listen to what the market is telling you, and adjust.”
When it comes to receiving offers, you’ll probably have ones that range from full-price, to near-price, to below-price. It’s essential for you to know how to negotiate when given all of these offers.
“If you are lucky enough to get multiple offers, you should be open and transparent about the process with all of the buyers,” said Joe. “Give all of the buyers a deadline to submit their best offer, and then negotiate from there. It’s in your best interest to keep as many buyers in the process as possible.”
If you remember this advice when selling your home, you are sure to have a pleasant experience.