According to CNBC Nearly 40% of Americans cry in the process of selling a home.. It sounds like waiting for a mental health crisis and the possibility of divorce. Here are my top 5 tips for selling a home in 2021 to help you avoid it.
Top Home Sales Tips
1. Find the agent.
Do I need to use iBuyer or do I need to use an agent? I pay more attention to Open Door stocks than my husband. That’s because I believe that one day iBuyers will take over the real estate space and make me irrelevant. But that day isn’t here yet.
Do your research: iBuyers is not yet a good deal for sellers. They take higher fees than the local market (they just call it something else like experience fees or credits) and are encouraged to pay much less than the market price. For now, traditional realtors still make more sense.
2. Get ready for sale.
Sellers have to pay for their inspections and address key issues. This is an important step. 95% of contracts that collapse are due to competition during inspection. By proactively addressing key issues such as roofing, sewerage, and HVAC, you can limit the excessive stress and time loss associated with frequent sales.
Professional photography is cheap and very important. In Colorado, you can get about 10 for about $ 100. It’s a number game and you will get the most volume with the best photos. Don’t look down on this.
3. Make sure the comp is correct.
There are some criteria I consider when pulling a comp.
- Proximity. It’s best to stay within a mile, as it’s the place where you can’t throw money after the store closes.
- area. Larger homes are cheaper per square foot than smaller homes, so it’s important to pull from homes with similar footprints.
- Bathroom. I care more about the bathroom than the bedroom. Adding a bathroom that requires plumbing and expertise to your home is much more difficult and expensive than adding a room that requires drywall. It’s also even more important because the difference between one bathroom and two bathrooms is so great.
- parking. Many of my clients are in Denver, where parking is limited. But even in Colorado Springs, where parking is more abundant, people naturally want a garage because of hail and snow. Garages are not always cheap and easy to add.
- Zoning. This is becoming more and more important due to Airbnb’s popularity, house hacking, and communal living arrangements. Certain zoning categories are more valuable than others, depending on who the buyer is.
- School district. Go to the figure. People are interested in educating their children.
- The year it was built. Houses of the same development were probably built at the same time, but if you live in a low-stock market (such as Denver or Colorado Springs), you’re pulling from a wider radius just to get a few properties. There is a possibility. Doing so can get you out of development, so make sure the other homes you’re pulling are built within 20 years of the home you’re selling.
4. Set the appropriate price.
“Bid war” is a hot topic Due to very low stock, sellers often receive multiple offers on the list. I understand the tendency of buyers to reject this, but there is something to keep in mind. The price is not the price. This is a slightly arbitrary number recommended by listed agents (or requested by sellers). Ultimately, the market will be decided.
If the price of a property is too high, the property will sit down, gain a stigma, and the seller may be dissatisfied with the listed agent. At low prices, the movement is fast and the seller may be very happy with the agent. Market demand still determines the price, but based on expectations, the client leaves with a very positive or negative experience.
Related: How to Sell a “Unsellable” Home
5. Authorize buyers.
This actually has two steps.
The first step is a standard lender’s letter and phone. Creditor letters need to disclose what they are eligible for and what the terms are. The phone should give the seller the peace of mind that the lender is local and can talk in case of problems.
The second part of qualifying as a buyer is proof of funding. Take a screenshot of your bank balance showing that you have the money you need for your down payment. If the coverage of the valuation gap is part of the contract, it indicates that there is also funding for it.
Buying and selling a house is a big deal. It’s probably one of the biggest financial decisions you make. It’s natural to feel stressed, but knowing what to expect can limit much of this stress.
What do you do to make sure your property is available for sale?
Share the pre-sale process in the comments.