As we slowly (and I mean slowly) crawl out of the Polar Vortex and inch closer to spring, many will be considering what seems like one of the most daunting tasks out there: selling a home. Well friends, do not fret because Be Realty is here to help!
There are many things potential sellers can do to set themselves up for success. The first and most important step is establishing an agency relationship with the best and brightest (if not the most humble!). An agent from Be Realty will help educate you and will serve you as a trusted adviser throughout the sales process. Once you have found your advocate you should consider the following:
- What is your end goal? Selling a home is always a means to an end. What is that end for you or your family? If that end game is buying another home (which many times it is) you need to analyze how your sale will impact your purchasing power. For example, many think that waiting for that 1% or 2% increase in the sale price of their home will make things easier, but in that time you could see your mortgage interest rate jump 1% for your purchase and erase that gain in your sale price tenfold!
- Remove your emotional connection. This is easier said then done as many of us have seen major life changes, children born and raised, and invested years of blood and sweat–all in that home. The problem is that despite your feelings, the property has none of these association for potential buyers and they will look at it in comparison to the competition just as if it were an item on a store shelf.
- Know your competition. Make sure that you check out the comparable homes in your neighborhood that you may be competing against. Reliable communication is so important in real estate and you need to prepare yourself for difficult conversations and align yourself with an agent that is able to communicate effectively with you.
- Consider smart renovations and adjustments to make the home more marketable. Avoid overly-personal color and finish choices when a sale is on the horizon. Know that money invested does not guarantee a dollar for dollar return. Here is an article showing which renovation projects yield the best rate of return.
- Have a plan and stick to it. When working with the best and brightest agent, it will be useful to set goals with them about activity, marketing plan, and to discuss options for evaluating the effectiveness of the marketing and the validity of the price. If you and your agent agree on this upfront you should be the ones setting the market and not chasing it. Often, unexpected things can creep up so being proactive is important. Keep in mind that acting promptly, decisively, and accurately will help ensure that you get top dollar in the lowest amount of market time.
Check out this short video for some helpful information about selling your home. Be Realty is here to help you be where you want to be!