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Finance

Real Estate Techniques for First Time Home Sellers

As a newbie at selling homes, your odds of success in the first month aren’t so good. Your inexperience in the real estate game, perhaps the absence of a strong network, works against you. But don’t despair, as success will come when you apply these proven techniques.

Set a competitive price

While you may want $100,000 for your home, it may only be valued at $85,000 in the current market. You should then research the comparable prices for homes similar to yours, particularly in your neighborhood, and start from there. Your home’s competitive price, combined with its unique features, will be among its selling points.

When you approach a real estate agent and tell him that, “I want to sell my house Boynton Beach,” you should already have a price in mind. You can then discuss the competitive price that will attract buyers to your listing.

Get the right timing

Regardless of whether it’s a buyer’s or a seller’s market, you should be mindful of the timing of your home’s listing. Early April is considered as the best time to sell your home, and research has shown that views of home listings increase during this period. Plus, it’s the time of year when higher prices can be made, as much $17,000 for an average home.

Stage your house

You want potential buyers to see your home’s beauty and see themselves living in it, a goal that can be achieved by staging your home. During an open house, you should ensure that the exteriors and interiors of the house are clean and clutter-free. You must also allow potential buyers to see what they can do with the home, such as converting a spare bedroom into a study.

You and your agent should discuss the overall appearance of the house. Should you have half of the furniture removed or let the house as is sans the lived-in clutter? Should you change, make repairs to the kitchen and bathroom or give them a complete upgrade?

Make repairs before the listing

If necessary, hire a certified home inspector who will conduct a thorough inspection of your house and make suggestions for its improvements.  You should have repaired leaky faucets, running toilets, and flickering lights, among other issues, before listing your home. You want buyers to think that they are buying a move-in ready house, not a fixer-upper that can become a money pit.

But don’t try to repair everything, much less make a complete overhaul of your home! You should decide which ones will increase your home’s value and focus on them. Otherwise, your selling price will increase, and potential buyers may well be turned off by it.

Lastly, you’re looking for potential buyers that can make higher down payments and deposits, as well as get conventional loans. You want them to be able to afford the selling price plus its closing costs, among others.

But that doesn’t mean that you should be a snob and make choices based on appearances. Just do your research about the buyers and make an informed decision.

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