The threat of rising inflation and the impending economic downturn has made the real estate market 2023 more problematic than in previous years. Despite these additional barriers, there are several things you can do to enjoy a hassle-free sale.
There are four essential steps you can take when selling a house in Euless that can smooth the process. Each step can make a difference in how quickly your home sells.
#1 Examining Your Options
The great thing is that there is more than one way to sell a house. Choosing the right option can help considerably speed up the sale and help you achieve the price you want.
Three main options are commonly available to a vendor:
- Using a real estate agent to handle the sale.
- ‘For sale by owner method,’ where you handle the sale yourself.
- Selling directly to a real estate investor.
All three of the methods listed have their own advantages and potential drawbacks. Thinking about which will be the best for you is likely to hinge on your reasons for the sale.
Using a Real Estate Agent
Using a realtor is the most common method. The agent who will handle the listing and promotion will do much of the work. A key reason for using a realtor is his buyer’s list. Good agents generally have a ready list of potential buyers, which can provide some early interest in the property. The downside is they usually come with hefty fees, often charging more than 5% of the sale price.
For Sale by Owner Method
The main alternative is to handle the sale yourself. The obvious advantage of doing this is the significant saving on fees which can provide more flexibility when negotiating with potential buyers.
There are, though, a few major downsides. Selling a house can be a lot of work; generally, you start from scratch when looking for potential buyers. On top of this, there is always a chance you could make an error with the compliance or the paperwork that could be costly.
Selling to a Real Estate Investor
An alternate way to sell your house yourself is to sell directly to a real estate investor. Investors, such as Cash House Buyers USA, provide an avenue to achieve a swift sale without many of the costs that accrue when selling through a realtor.
One factor that often puts people off is feeling they need to get a fair price. The difference, though, is generally far less than you imagine. When you amortize the additional costs of other processes, the net amount received is likely to be pretty close to what you might end up with selling through a realtor.
#2 Setting Your Price
How you choose to proceed will determine how you will initially price your property. When selling through either a real estate agent or selling it yourself, you will probably have a net figure of how much money is received after all the taxes, fees, and costs have been taken into account.
You, therefore, need your initial asking price to be higher than your bottom line to allow for these costs and some negotiation with potential buyers. Having said that, you also need to be realistic, and pricing your house way above local equivalent properties could delay the chances of a sale.
#3 Preparing Your House
Presenting your home in the best light is critical if you want to sell quickly. Creating good ‘curb appeal’ may seem obvious, but it is surprising how often the seller doesn’t address it.
The exterior of your house will provide your property’s first impression. Pulling up to a dirty exterior or an unkempt garden will likely put prospective buyers on their guard.
What goes for the outside applies equally to the inside. Ensure the property’s interior is clean and tidy for viewings. If you can afford it, redecorate the main rooms. If you can’t, at least ensure that noticeable flaws are repaired or covered over.
Using Subliminal Tactics
You should also remember that sight is just one of your senses. One effective tactic is to appeal to other senses, such as smell and sound, as this can enhance the subliminal impression of the viewer.
If you have the requisite skills, baking bread or a cake to coordinate with the viewing time can be highly effective. If baking is not your forte, then the aroma of freshly ground coffee works equally as well.
Playing gentle mood music quietly in the background can also effectively provide a good ambiance for a viewing and help block out unwanted outside sounds.
Of course, the reverse is also, if not doubly true. Foul odours can have a more off-putting effect than an unsightly interior.
#4 Listing Your House
If you are using a realtor or following the ‘for sale by owner’ method, you will want to get your property listed to gain maximum exposure. Depending on the deal with your realtor, much of this will be done for you.
Approving and monitoring the promotional materials used with your listing can be crucial, as the images and descriptions of your property will be the first thing most potential buyers see. It is not unknown for realtors to cut corners to save costs themselves. High-quality images and professionally written descriptions can have a significant impact on driving initial interest.
Conclusion
Selling property is never really a stress-free process. However, if you decide to put your property on the market, proper planning, preparation, price setting, and a good listing should ease the process.
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