What’s Involved in Selling a Home?

If you are selling a home for the first time, the process might be a bit intimidating. There are a lot of questions to consider, after all. You also want to be sure you are going about the process correctly and getting the right kind of help. If you are just now setting out on your home selling journey, here are the things that are involved and the questions you should be asking yourself as you go along. Do it right, and the home selling experience should be a smooth one for you.

Before selling your home do your research first
Before selling your home do your research first

Am I Asking the Right Price for My House?
This is the first question you should ask yourself, and it requires a little bit of research. First of all, you don’t want to price your house too high or too low for your neighborhood. If your price is too high, the house won’t sell. If it’s too low, you won’t get as much money as you deserve for your house. You also have to take into consideration how much you still owe on your house when coming up with a selling price. Researching what similar houses in your neighborhood are selling for is important information.

Does My House Need Any Repairs?
You can always sell your house “as-is.” However, you won’t get as much money for a house that needs work. If it makes sense to your budget, you might want to put a little money into the house to fix any obvious problems, so that you can ask a higher price for it. If doing the repairs will cost so much that it will cancel out any additional profit you could make, then it may be best to sell the house “as-is.” Do some repair estimates to make your decision.

Should I Sell the House Myself or Get a Real Estate Agent?
Some people think they can get more profit for their house by foregoing an agent and selling it themselves. However, an agent is actually your best tool in getting the highest possible price for your house. A local agent who knows the neighborhood is really indispensable. He or she can tell you if your asking price is too high or too low, can advise you on repairs, and any number of other things you might not have considered. You’ll save a lot of time on research with a local agent. Plus, a local agent will have a steady supply of qualified buyers always ready and waiting to come see your house. You will sell it a lot more quickly with a local agent on your side, while all of those “For Sale By Owner” houses languish for months or years on end.

When Is The Best Time To Sell A Home?

When Is The Best Time To Sell A Home?

Just like everyone has a mouth, everyone has an opinion of when the best time to sell a house is.
What do you think?
If you ask a Realtor he will tell you anytime is a good time and he would be correct. Why?
It really depends on the circumstances and everyone’s circumstances are different.

The best time to sell and make the most for the sell of your home is when inventory is low. If your specific neighborhood does not have but a few homes for sale or none at all you could be in the drivers seat when it comes to buyers. This means they have less options to look at and more buyer competition to contend with. When the market was at it’s peak in 2003-2004 buyers were buying whatever property they could find and hoping that the sellers would accept theirs out of the multiple offers they were recieving. It was the wild wild west in real estate. They weren’t viewing ten’s or hundreds or more homes like in a buyers market, in fact they were making offers unseen and even offering way over the asking price. But those days are long gone.

Today’s market is different but some sellers seemed to be living in the past. Gone are the over priced offers. You have to understand when the best time to sell is so you can get the most out of your investment. For instance a lot of people think that they should put their home up for sale in the spring just before the kids go back to school but that’s not always the best time because not everyone has kids.

The best time to sell is when the competition is down period. But of course you might not be able to wait for that. One time I’ve found out from experience that there’s another good time to sell and that is during the end of the year when everyone is preparing for the holidays. You see most will wait till the holidays are over and then put their home up in January. The problem with that is that’s what most sellers are thinking and now the buyers have a large inventory of homes to chose from. The experience I had is that my seller needed to move right away before the end of the year. When I did the comparable of homes for sale there wasn’t very many homes in the same price range we were planning on selling for. The home showed perfect for a older home compared to the other homes which needed work. We priced it at Market Value where I like to price just a little below to attract as many buyers but since there wasn’t much competition, the market value price was perfect for we had some good showings and a lot of interest. It only took a couple of weeks and we had an offer for $10,000 over asking price. The buyers did not want to lose the property because they did not have many choices of homes in their price range.

Hopefully I shared a little insight on when is the best time to sell your home. Of course every circumstance is different and you might need to sell in a highly competitive market. Then you need to know what will make your home stand out from the crowd and get the home sold quickly and at the best price. I’m happy to share my strategies with you to help you get the most for your home in any market. If you would like to learn more or you have any questions please enter them into the comment below or contact us.

Thanks for visiting HouseSold

Can I Sell My Home On My Own?

We understand that you want to sell your home on your own but have you consider what’s involved?

The #1 reason that most homeowners sell on their own is because they want to save the commission. I get that because who doesn’t want to save money, but you have to ask yourselves are you really saving money and if so how much? Hear is something to think about. Do I want to save 6% by not paying a real estate agent or do I want to be losing up to 20% by not using one. Studies have shown that For Sale by Owners lose up to 20% because the house is not marketed right.

Selling a Home is Not Easy Period.
Selling a Home is Not Easy Period.

As you have learned already if your home is For Sale by Owner now, that it’s not easy selling a home. Let me tell you a secret, we as Realtors are not always sure we can sell the house either, that’s why we have expireds. What helps us have success in selling any home is really up to the sellers. Why do I say that?

The keys to selling a home is first of all price, then the showing condition  and then availability to view the home.

Ask yourself these Questions:

 Is your home priced right? Check

Is your home in show condition? Check

What about availability? Not so good. Why?

You work hard at your job and have a busy schedule when your not working so it’s hard to schedule appointments with potential buyers. You are missing so many opportunities of potential buyers who might be willing to pay top dollar for your home but because you are not available you lose out on a potential sale. Let me tell you another secret to selling your home for top dollar and actually making more money and not lose 20% or more. HAVE MORE BUYER SHOWINGS. It’s that Simple. The more potential buyers the more chances of selling at top dollar. Does that make sense?

How do you do that? If you’re selling on your own now, you know the buyers are scarce. Where are they? I’ll tell you another secret, they are with their real estate agents who only show homes listed on the Multiple Listing Service (MLS) with a professional real estate agent.

The Master Key to selling your home for top dollar is hiring a local professional real estate agent not because he has thousands of buyers but because he has the keys to access to thousands of other real estate professionals who represent qualified buyers willing to pay top dollar.

So then if the price is right, home shows well, the home is available when the buyers are, and you have a professional agent you now have a better chance at success of making more money. So the 6% doesn’t sound so bad now does it?

If you have any question please leave them in the comment section or email us, we will be happy to answer any of your questions.

Thanks for visiting

Why Are Real Estate Agents Commissions High?

Why Are Real Estate Agents Commissions High?

In today’s market the average commission is 6% but of course commissions are negotiable, but be careful of negotiating to low. Why?

The higher the commission you offer a buyers agent the more agents you will attract to your property and in turn they will bring their qualified buyers to look at your home. (The goal is to attract as many buyers to your property). Simply, the lower the commission the less excited the buyers agents are to show your home to their potential buyers.

Offering a Higher Commission Attracts More Buyers
Offering a Higher Commission Attracts More Buyers

Is there a time you can offer a lower commission? Yes

When a market is hot you can get away with 5% because the homes are selling fast but at the time of this writing the market has leveled and their is a lot of homes on the market to chose from so you need the higher commission now.

If you really want to be bold and attract potential buyers fast you could offer an even higher commission such as 7-8%.

Understanding How Real Estate Agents Think.

You have to understand that real estate agents make their living helping people find a home. If you were given an assignment from your boss who presented you 2 offers, both were going to take the same amount of time to complete but one paid more, which one would you chose? Of course you would chose the one that paid the most. Real estate agents are no different. They work to take care of their families and if offered more to do the same job they will lean toward the better commission. That’s not always the case but you want to cover all the bases when selling a home. Some times the potential buyer will see your home on the internet and if it’s priced right and shows great they will ask their agent to show them but this is a slower process than the agent doing the search for his buyer and setting up showings.

I hope I helped you understand the thinking of an real estate agent and why commissions seem high.

If you have any questions regarding the real estate process please leave it in the comment section or you can email us any time.

Thanks for visiting us at HouseSold.

 

What to Look For in Choosing a Realtor

What to Look For in Choosing a Realtor

Choosing a Realtor that is right for you might take sometime but it will be worth the wait. Every Realtor is not the same. There is brand new ones who just received their license, there are ones who do hundreds of transaction who usually work with a team and there are some who do less than 50 transactions a year who work alone. Which one is best for you?

The Realtors above will no doubt get your home sold but I’m sure you would like one that is experienced and has great customer service along with one who posses great skill in helping you achieve your goal of selling your home.

One way to look at choosing a Realtor which might be a little dramatic but imagine you are facing 10 years in prison. What kind of lawyer would you hire? Would you hire a brand new lawyer maybe a close relative who just past the bar? Or would you hire a lawyer who has a lot of experience and takes care of hundreds of cases a year. Or an experienced one works with only a few clients he knows he can help and who is readily available to give them the attention they need? Of course the choice is yours but for the interest of keeping me out of jail I would want the one who has experience, available and one who keeps me well-informed.

Choosing the Right Realtor Can Make the Difference in a Happy Expereince
Choosing the Right Realtor Can Make the Difference in a Happy Experience

There are many other factors in choosing a Realtor but hopefully I helped you understand a little bit that not all Realtors are the same. If you have any questions regarding real estate please enter them in the comment section below or email me and I would be happy to answer them.

 

Thanks for Visiting.

 

 

How Do Real Estate Commissions Work?

How Do Real Estate Commissions Work?

When it comes to real estate commissions people are sometimes a little confused on how they work.

The average commission of a Realtor is usually around 6%. You might feel that seems kind of high, but you have to understand why the commission are that way. In fact in some situation the commissions should be higher especially when we’re in a buyers market.

The first thing you need to know about commissions is that whatever  a Seller agrees on when signing the listing contract such as 6% is usually split in two. The listing agent who has the contract signed for 6% sometimes has to split that with a buyers agent who will get 3% of the 6% leaving 3% for the listing agent. I say usually because sometime the listing agent might represent the buyer as well thus giving them the whole 6%.

The Higher the Commission the More Buyers Agents You'll Attract
The Higher the Commission the More Buyers Agents You’ll Attract

When we are in a buyers market there is a lot of competition meaning a lot of inventory so to stand out from the crowd the seller might need to offer a higher commission to attract more buyers agents. If it’s a seller market you will be safe with the average commission because the faster you sell your home the more money you’ll make and less inconvenience with people coming through your home.

Hopefully you have a clearer picture of how commissions work. If you have any question feel free to put them in the comment section or just email us, we would be happy to answer them. Thank You for visiting.

 

3 Tips to Get Your Home Ready to Sell

When it comes to selling your home in a tough real estate market, consider your buyer. What does the buyer want from a home like your own? What is he or she expecting? You’ve put a lot of hard work and time into your home. You want to sell it at the highest level possible. At the same time, you don’t want to price your home too high, as this may mean it does not sell or takes a long time to sell. A few key tips can help you to get the results you are looking for.

#1: Get Your Home Sell-Ready

Look around your property and notice things that would be a turn-off to potential buyers. Make those repairs or upgrades. A few key things that can make a big difference include:

* De-cluttering the home
* Repairing broken windows, electrical, and plumbing problems
* Cleaning and upgrading the landscaping
* Paint walls in a neutral tone
* Upgrade any non-working or very outdated appliances
You want your buyer to see your home as ready to move in, not one requiring numerous repairs.

Getting Your Home Ready to Put on the Market
Getting Your Home Ready to Put on the Market

#2: Stage Your Home

You can pay a professional to do this for you or tackle the task on your own. The goal here is to remove as much of you as possible from the home and to create a neutral backdrop for the new owners. You want them to see this as a home they can live in, not one others are living in. Remove photos of your family, remove as much clutter as possible, and organize spaces.

#3: Get a Formal Home Evaluation

Ultimately, the value of your home is dependent on market conditions. When you work with a licensed agent, you’ll get outstanding resources on pricing, marketing, and maintaining your home. In fact, if you make this your first step, you’ll get outstanding advice from your agent about how you can make your specific home ready to sell.
Call our team today to request a home evaluation. Find out what it’s really worth at no obligation to you.

What’s The Success Rate of Homeowners Selling Their Own Home?

What’s The Success Rate of Homeowners Selling Their Own Home?

Not Bad! But the real questions is, “What’s Involved in doing so?

To Understanding How To Sell Your Own Home!

When selling privately you have actually decided to become the ‘real estate agent’.

And to ensure you have a successful sale, you will need to implement the very same activities agents do to cause a sale.

What Are Some of Those Activities?

Your 4  Selling Goals

1. Experience minimal discomfort during the marketing stages of the sale.

2. Sell your home at the highest possible market value price.

3.Eliminate last minute surprises that often  cause a sale to fall apart

4. Sell your home in the fastest possible time frame without it negatively impacting price.

Understanding The Success Odds?

The Facts

According to association statistics, every year 3% to 13% of homeowners nationally attempt to sell without employing the services of a real estate company.

How Many Private Sellers Are Successful?

Only 3% to 9% of those who try are successful when selling privately. (Failure rate is 91% to 97%)

How Long Do Private Sellers Sell Privately?

The average private seller will try to sell on their own for 37 days before hiring the services of a real estate professional.

Why Are The Majority of Private Sellers Unsuccessful?

Question: Price

Were they asking too much for their home?

Answer: No

Private sales are generally priced at, or near, market value.

Then Why Were They Not Successful?

They failed because their marketing process did not attract a qualified buyer.

Actually, marketing process is of more importance than is price.

It’s The Organized System Created To Increase The Odds For Success

Question:

Do you mean open houses, advertising, sale signs, etc.?

Answer:

No. Those are activities agents use to service homeowners. Activity and process are not the same.

Then What Is Marketing Process?

It is a system designed to solve the #1 problem sellers have – how to locate a qualified buyer for their home.

This system is called the Multiple Listing Service,  (MLS), and is proven to be the most effective home marketing process on the planet.

Realtors are members of their local MLS and are ready to add your home to the list of homes where all buyers start their search and usually end up purchasing.

The Importance of a Home Evaluation and Understanding How to Get One

It doesn’t matter the side of the fence you’re on–selling a home or buying one–it’s always smart to have an evaluation carried out on your property. As a seller, the evaluation is important because it allows you to determine a fair selling price. As a buyer, an evaluation enables you to see if a seller is pricing the home too low or high. In addition, many banks will require that you get a home evaluation before approving you for a loan.

You Always Need a Home Evaluation weather Buying or Selling
You Always Need a Home Evaluation whether Buying or Selling

Buying or selling a home can be a bit of a tricky process. After all, there are many steps that have to be carried out, but with an experienced Realtor on your side, you can rest assured that the services provided will come from a professional who knows what their doing. This is where I step into the picture. It doesn’t matter the part of the buying or selling process that you’re in, I’m here to help. Most importantly, if you have’t had a home evaluation carried out yet, I can assist with this too.

There is much involved in a home evaluation, with the main purpose of the inspection being to determine the overall condition of the house that you’re wanting to buy or sell. In addition to repairs being noted during the evaluation, upcoming maintenance expenses will also be identified.

You can’t go wrong with a home evaluation. As mentioned before, an evaluation may be required by a loan lender, but even if it’s not, before you purchase a home or put your current one on the market, contact me. I can help you get an evaluation on your home.

What Are The First Steps If Your Thinking of Selling Your Home?

What Are The First Steps If Your Thinking Of Selling Your Home?

If your thinking about selling your home and you don’t know exactly where to start you’re at the right place.

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The very first step is to find out what you owe on your home or if you don’t have a mortgage that’s simple, you most likely owe nothing.

To find this information you can just look at your mortgage statement and if it’s not there simply call your mortgage company and ask for a pay off statement or ask for it right over the phone.

Step two is to find out what your home is worth, which is not so simple. You could get your home appraised if you have around $400 but this will give you a very accurate price, which you can use in your marketing strategy later.  (Make sure to give a copy to your Realtor)

You might also think to go to the internet and there you will find sites like Zillow, Trulia or some other major real estate site. The problem with these sites is that their not very accurate. You see they don’t focus on specific neighborhoods like yours. They give more of a general price and a lot of times they are way off.

Get a Free Home Evaluation from a Realtor
Get a Free Home Evaluation from a Realtor

Another way to find the price on your home is to talk to a Realtor. The difference between the last two options is that a Realtor doesn’t charge and if he does don’t use them. Most Realtors can give you a very close price but of course they can give you a more accurate price but they will need to view the home first. Also a Realtors home price is going to be more accurate that those real estate websites. The tricky part is, which Realtor should I ask to help me find a price on my home? The answer to that question is to pick one you like or ask for a referral. Maybe even get a few different opinions from a couple of Realtors and later if you decide to sell your home you can pick the Realtor you feel gives the best customer service and uses the best marketing material which they used to give you a price on your home. This will show if they are professionals who have  good customer service, along with,  if they use good marketing materials to sell your home.

Now that you know what you owe on your home and what your home is worth. What’s the next step? You now need to count the cost of selling a home. You see there are a lot of costs to selling a home such as Realtor fees, escrow, taxes and others fees. To help you with that your Realtor can get you an estimate of all these fees.

For a Free Home Evaluation and a estimate of the costs involved please contact us by filling out the box below. We would be happy to help you find out what your home is worth and what it will cost to sell it. Thanks for visiting.

Helping People Who Are Thinking About Buying or Selling a Home to Understand the Real Estate Process and to Be Successful in Making a Educated Decisions.