In the current real estate market, sellers have a near-perfect hand. Buyers’ demand is high, while sellers’ supply is low, leading to higher housing prices. In this market, a seller need only put a “for sale” sign in their yard before receiving multiple bids. Although the path is relatively unobstructed, there are ways for vendors to increase their profits and avoid fickle customers. Experts in the field of real estate caution against complacency on the part of sellers, which can manifest in various ways, from picking the wrong buyer to neglecting potentially deal-breaking contract conditions.
Choose a Financially Able Buyer
Getting a mortgage to purchase your house can add roughly two months to closing. But, there are cash buyers who offer “we buy houses in Pearland” that may be able to complete the transaction quickly, often in as little as a few days. If you wish to wait for a cash buyer, you may find yourself with fewer offers and a lower selling price because most homebuyers need financing which is still a good idea. You may also go with a buyer who needs a mortgage but already has a pre-underwritten loan, which means the lender has already checked out their finances and given them the green light to spend a particular amount on a home. Pre-underwriting is the next level of the loan approval process. Home loan approval is contingent upon a satisfactory property valuation and the satisfaction of any other requirements stipulated by the lending institution or the specific terms of the loan program.
Choose a Professional Broker
It would be best if you didn’t take a chance on a rookie real estate agent when time is of the essence. Instead, find a real estate agent with local expertise who has experience working with sellers like you. Begin by bookmarking “for sale” items that stand out due to their excellent photography and detailed descriptions. You might want to consider working with one of these brokers because they care about selling homes quickly. If you’re looking for a decent real estate agent in your region, ask your friends, family, and followers on social media for recommendations.
Look for an agent who has been in the business for a while and has a track record of success selling houses in your area. They may know people who can assist you in discovering a suitable buyer. Tell potential brokers or real estate agents your preferred closing date, so they can assist you in determining if it is feasible. Finally, please don’t be shy about conducting numerous agent interviews; most buyers choose the first agent they speak with, but you could find a better fit by talking to more than one. If you’ve discovered a real estate agent you like, it’s a good idea to double-check their credentials with the relevant authorities in your state. If possible, look at customer feedback posted online or ask for contact information for any of their prior customers.
Make Your House Look New by Cleaning and Decluttering
It might seem obvious to clean and organize your property before putting it up for sale. Yet, if you look through the local real estate listings, you might notice that some houses are in a bit of disorder. Potential buyers may be put off if they have trouble visualizing themselves living in the home due to waste and mess. Your real estate agent knows people willing to help you clean and declutter if you don’t feel like doing it yourself. If money is tight, think about borrowing from loved ones.
Decorate for Home Staging
Professional home staging is a great way to help potential buyers picture themselves in your house after you’ve done the cleaning and decluttering work. Stagers can either use your existing furniture and decorations or provide temporary rentals to accommodate your budget and moving timeframe. Although you may stage a property on your own, hiring a professional may be worth the cost if you need to sell quickly because of their expertise in design and layout. According to buyers’ agents, the most crucial rooms to stage are the living room, the main bedroom, and the kitchen. Factors like the square footage of your property, its location, and the price of move-out cleaning can affect the final price tag.
Consider an iBuyer
An iBuyer, often known as an immediate buyer, could be the best option if you need to sell your house quickly. iBuyers are tech-savvy firms that negotiate and close real estate purchases online. Automated valuation models are used with images, a virtual tour, and a house inspection to generate cash offers, typically made within 24 hours of receiving your information. You won’t need to employ an agent or clean, stage, or give tours of your house like you would in a traditional sale. However, the iBuyer will charge a service fee of 5 and 14 percent of your home’s selling price for their assistance.
Sell to Persons You Know Well
If you’re selling your home on your own, it can be helpful to sell it to someone you know, such as a friend or family member, so that you don’t have to worry about any surprises and can save money on the commission that an agent would have otherwise demanded. It’s important to remember that if the sale doesn’t go as planned; it could strain your connection with the buyer. Someone you know may also connect you with potential buyers without having to deal with agents and brokers.
Check internet real estate websites to find out what comparable houses have recently sold in the region. Determine the average price per square foot of similar sales. The formula is straightforward: divide the cost by the total square footage. Multiply this by the square footage of your house to get a ballpark estimate. It’s worth considering that you could increase this number if your home is objectively more attractive or decrease it if it’s less desirable.
Several offers are common for sellers within the first few days (or even hours) of listing their home in today’s market. The sellers are in the enviable position of choosing between multiple bids. In cases where the highest offer is significantly above your asking price, you may be tempted to accept it immediately. It’s possible, though, that you’re making a serious error. Give potential buyers more time to check over the house by keeping it on the market for at least two weekends. The lower the probability of selling to a risky buyer, the more buyers you need to pick from.