What Home Buyers Are Asking For..
Some home seller's may leave matters to chance, hoping that the property they're selling is desirable to someone. But if they wish to be more proactive, Bankrate.com reports home seller's might instead choose to tap into home buyer's wants and desires and offer a property that satisfies those demands. While it may not be possible for someone who's selling a small condo to appeal to a home buyer who wants a sprawling ranch, Bankrate.com reports there are a few things home seller's can do with their own property to draw a less selective home buyer.
Quality and condition
The National Association of Realtors (NAR) reports home seller's can't change much about the makeup of their property, but they can ensure it's in top condition. Whether they're selling a two-story Tudor or a split-level Colonial, NAR reports home seller's can often field more offers if their property doesn't need much work to start with. Giving the home a fresh coat of paint and fixing up whatever maintenance issues that exist may be a home seller's best way to convey the property's quality's and condition. Though there are home buyer's out there looking for a fixer-upper, NAR reports it's not always likely they are the ones touring the average open house. Many home buyer's today would like a property that's as close to move-in ready as possible, according to NAR.
Incentives and concessions
Home seller's may be able to pique home buyer's interest with a special offer or incentive, Bankrate.com reports. These can range in complexity, from a simple gift card for buying new furniture to financial help at the closing table. According to Bankrate.com, while the concept of offering concessions may frustrate some home seller's, those home seller's need to remain aware that it's part of the negotiation process. Offering some sort of concession or incentive may allow their real estate agent to counteroffer with a better price, and the process may ultimately encourage someone who's on the fence to buy a home.
Home buyer's have also expressed increased interest in all things green - from technologies and appliances to upgrades and architecture. Home seller's don't always have to go all out and retrofit their properties with brand new state-of-the-art energy-efficient technology, reports Bankrate.com. Oftentimes, they can meet a home buyer halfway by offering energy-efficient appliances and even non-technical features - such as strategically planted trees and awnings - that can shade a home and provide energy savings. At a time when more consumers than ever are focused on environmental sustainability, any green feature is better than none, according to Bankrate.com.
For Sale by Owner: Why Going Solo May Not Be Going Smart ...
Those that choose to sell their own homes often hope to avoid the commission paid to real estate agents. While those familiar with the housing market and process of selling a home may enjoy a successful sale, plenty of inexperienced home seller's have encountered nothing but headaches. Besides limiting the number of potential buyer's, the decision to sell by owner has cost many homeowners incredible amounts of time, energy and money. Before you make your own decision, you may want to assess the factors discussed here in relation to your own knowledge and resources.
One of the most critical aspects of selling a home – setting the right price – often requires extensive market research and analysis of the property itself. While it is possible to gain an understanding of broad market trends, homeowners often don't have enough time to analyze the nuances of their local housing market. On the other hand, real estate agents are immersed in such local trends on a daily basis. Over time, the best real estate agents will gain an incredible understanding of everything from the most popular neighborhoods and styles of homes to the types of amenities local buyers are looking for. When it comes time to set a sale price on your home, a real estate professional will be able to utilize this knowledge to determine the most accurate market value for your home.
While the pricing of a home can be a difficult process, the most challenging work begins when your home is officially for sale. Even if your home is in the most attractive location within the local market, you probably won't find many interested buyer's without marketing your property. This process begins with listings in real estate databases, newspapers and periodicals. After the listing has been marketed in such publications, the home is made available to prospective buyer's through open houses and private viewings.
When a real estate agent is involved in the marketing process, many additional opportunities often develop. Utilizing their industry connections and relationships, real estate agents are often able to find prospective buyers that might not have noticed your home otherwise. While your home is for sale, you can expect your agent to work full time trying to find the right buyer for your home. By comparison, very few homeowners trying to sell their own homes have nearly as much time to devote to the marketing process.
Whether you are selling your own home or working with an agent, there is still plenty of work to be done after a buyer has agreed to purchase your home. A real estate agent may be able to help you work through legal documents such as the Purchase and Sale Agreement. However, those that sell their own homes need to negotiate these documents themselves or hire an attorney for assistance. Unlike most home seller's, real estate agents have experience with the closing process that may help both parties complete the sale as efficiently as possible.
Before deciding how to sell your home, try to consider that there are many factors that influence the real estate market and can make selling your own home very challenging. Understanding the unique risks and difficulties you may face during the selling process will not only help you make an informed decision about hiring a real estate agent – it may help you sell your home.