5 Top Tips for Property Sellers
Property sellers have a good opportunity to make money in the real estate market if they play their cards right. I believe that with the right kind of guidance, patience and resilience, any seller – even first time sellers – can make money from their real estate.
On the flip side, going about the process blindly can cost you big. So be sure to keep these top 5 tips that sellers need to keep in mind:
Hire the right realtor
This is and will always be solid advice. Even though it is perfectly okay to go at it alone, hiring a professional and well-experienced realtor makes this entire process much easier and gives it the best probability to succeed. Not only do the best realtors know how to find client, but they will give useful advice on how to make your home irresistible to buyers. It is easy to find good realtors. Just ask around from friend and family or read the kind of reviews your local realtors have online and choose the one that most appeals to you.
Make the home move-in ready
A great deal of home selling is psychology. Most people looking to buy homes are doing so because they want a place to raise family or a sanctuary they can call home. You need to make them see that in your home. That is why staging is such an important part of selling a home. Your potential buyers need to instantly fall in love with your home; they need to be able to picture their families growing up safe and content within it and they need to see that the moment they walk in the door. Make sure that the place is move-in ready so that they can picture themselves moving in right away.
Make it available and accessible
Most first time buyers, for one reason or another, place restrictions on when potential buyers can view their homes. Even though this might be good for security purposes, it actually hurts your sales strategy. Think about it, how often have you gone into a store to buy something and found that they will have it in two days and actually waited for those two days? Chances are you will walk into the next store that has it then and buy it right away. The same applies to people who want to buy a home. They will call an agent and want to view the house right away. If you have placed restrictions on it, they will move right on to the next best listing.
Make sure to price it
Maybe it is the allure of making a lot of money at a go or it is just pure greed, but most first time sellers tend to overprice their homes. What this means is that it will probably stay on the market longer and you will still end up slashing down the price. Homes that stay on the market for a long time tend to lose their allure and become stale. Buyers will start wondering what is wrong with it and shy away.
To avoid any of this, be sure to check out listings in your area and see how similar homes are priced. The prices you see there are good benchmarks to estimate just how high you can go.
If you are thinking of renovating before selling, knowing the going rate in your area will also give you an idea of just how much renovating you can do before you start losing money
Be flexible when negotiating
This is the same thing as having a hardline stance on your overpriced home. You need to be able to negotiate with people in a cordial and understanding manner. This does not mean that you should take half the asking price. It just means that you should be willing to give some kind of leeway to make the sale.
In addition, flexibility can also include payment terms. There are times when buyers are willing to come up to the price you want if they are given a chance to pay in increments. Rick Otton is one of the investors known for flexible terms, and he has a lot of podcast episodes that talk about these types of arrangements.
It will take some patience and understanding, but once you are dealing with the right realtor and approach the market with the right attitude, you will find that selling a house isn’t really that difficult. From then on you can go ahead and buy/sell many others and become a real estate magnate in your own right.