So, the time has come to sell your home and you may be wondering how you can get the best price for the home that you have loved (or hated) so much. Today, selling a home isn’t easy. Mortgage companies are making it more difficult to get a home, believe me, been there done that. Fortunately, home values have rebounded over the past few years and it has made it easier for homeowners to sell their home for a profit. Even though you may be able to make a profit off of your home, actually getting your home sold may be tough, but here are a few things you can do to get it sold for a good price.
One of the most important things that you can do when pricing and getting your home sold is to do your homework. This means that you should look up what homes in your area have sold for in the past 30-60 days and how long they have been for sale. You will also be able to see if those homes had been sold for more or less of their original asking price. You can do this on websites such as Zillow.com, Redfin.com and Trulia.com. It also wouldn’t hurt to reach out to a network of buyers’ agents.
Your home may not sell as soon as you put it on the market unless there is a high demand for homes in your area. If it isn’t selling, don’t worry, be patient. Some sellers may be tempted to list their homes for way more than what other homes are going for in their area and this can steer potential buyers away from your home. Your home may have everything they want, but if it is 50 thousand dollars over their price range or over what other houses are estimated at, they are going to look for something else. The best thing to do when trying to sell your home is to price it fairly to avoid having it on the market for too long. If it is on there for too long it becomes “stale” and people are going to ask themselves why it has been on there for so long and then they get it in their head that there is something wrong with it when really, there isn’t, you’re just asking too much.
When selling your home, it is best to stick with an agent that knows your neighborhood. They will be in the perfect spot for knowing which transactions are in the works but not yet available for public records. While you are evaluating the possible agents, you should also find out the price of their most recent sales to see whether the home was sold for more or less of the original asking price. You want to know what your agent has done for other homes in the past because they will most likely repeat their tactics.
Listing agents will usually ask for a 5 or 6 percent commission on the sale price of the home. It is then usually split between the selling and buyer’s agent even though many listing agents split their own share with their brokerage. Sellers can negotiate for a lower commission but then your home may become less of a priority for the agent. The best thing to do is to work with a listing agent that is asking less of a commission.