Selling your home is a process that takes quite a bit of patience. Numerous factors play into the amount of time it takes to sell a house, no matter the price.
According to the San Francisco Chronicle, the largest factors include the real estate market, season and economy. As many know all too well, a weakened economy caused housing sales to slump following the economic downturn in 2008.
However, as the economy continues to improve, potential homeowners are entering the market, in part due to historically low interest rates. As a result, housing markets across the country keep improving.
There is a good chance homeowners, in recent months, have found a new house to live in if they were looking to do so. After purchasing the new residence, they then have to turn their attention toward selling their old home. It's not every day that families are selling homes. According to U.S. News & World Report, some homeowners sell once a decade, or once in their lifetime.
Selling a home is not as easy as it sounds. There are some mistakes that can ruin a home sale from going through.
Always research the real estate agent
Before listing your home on the market, Trulia advised sellers to research real estate agents. You'll want to see if he or she understands the specific market and is equipped to handle it. Sellers may be curious what they should look for exactly from their agent.
One of the most important requisites is to ensure the broker is familiar with the neighborhood. This will help attract potential buyers that are a perfect fit for the house. Other areas to consider include the availability of open houses, and if agents used these to attract representatives for interested buyers.
Positive traits of agents include offering staging tips, in addition to being a strong negotiator. A good agent will help meet your selling goals.
Always consider an offer
A seller should never reject a buyer's first offer, especially if it's the first one. Remember, everything is negotiable. Just as your are hoping to secure the best deal for your property, buyers are looking for a great deal. There is always a middle-ground for every sale.
According to Trulia, that meeting point can sometimes be obtained if you ask buyers to pay for the closing, or for any repairs and home inspection services that may be needed.
Use an agent
Sellers looking to save a buck or two will sometimes consider choosing to sell without an agent, otherwise known as for sale by owner. Unless you have the appropriate housing knowledge, selling without an agent can be one of the worst decisions a seller can make.
You may overlook certain aspects of the process, including legal requirements. It's best if you sell with an agent to ensure the best possible deal.
Set a realistic price
If you've lived in your home for 10 or more years, chances are you've likely made some changes to the property, both minor and major. As such, you may believe your property is worth more than it actually is, and this can lead to overpricing, which will drive potential buyers away.
Experienced real estate agents who know the market are able to determine a realistic asking price.
Always disclose everything
Have you hired a professional home inspection service lately? Disclose that information. In fact, when it comes to selling a house, you'll want to disclose just about everything about it. This includes repairs or quirks that can use fixing. Doing so will help you avoid potential lawsuits, especially if you don't feel the urge to address those issues, no matter the severity.
Selling a house is a process that takes time. Missteps can be avoided if sellers don't take shortcuts and above all, if they hire a real estate agent.