Jay LeClerc's Blog
After you accept an offer to purchase your house, a buyer and his or her real estate agent likely will want to conduct a property inspection. Although the mere thought of a home inspection may cause a property seller to stress, it is important to understand the importance of an inspection for both sellers and buyers.
Now, let's take a look at three things that every seller needs to know about home inspections.
1. A home inspection offers valuable insights for both a seller and buyer.
During a home inspection, a buyer, his or her real estate agent and a house inspector will examine a residence both inside and out. The inspection allows a buyer to take a close look at a residence and identify any underlying issues with a house before finalizing a home purchase.
Meanwhile, a seller may learn about assorted home problems following an inspection as well. And if a home has various problems, a seller may need to correct these issues to fulfill a buyer's requests.
2. A home inspection won't necessarily slow down or stop a house sale.
Typically, a home inspection is performed after a seller accepts a buyer's offer to purchase. At this point, a buyer wants to ensure a home matches or exceeds his or her expectations. With an inspection, a buyer can learn about all aspects of a residence and proceed accordingly.
If problems are discovered during a home inspection, there is no need for a seller to worry. Oftentimes, a buyer will request a seller fix any problems with a home, or he or she may ask for a price reduction. As a seller, you may be able to negotiate with a buyer to find common ground relative to the costs of myriad home repairs too.
3. A home inspection generally does not take long to complete.
In many instances, a home inspection takes just hours to complete, and a buyer will receive a house inspection report within a few days of the evaluation. After a buyer reviews the home inspection report results, he or she can choose to move forward with a home purchase. Or, a buyer can rescind his or her offer to purchase or request home repairs or a reduced purchase price.
A seller will find out how a buyer wants to proceed within days of a home inspection. If a buyer and seller can come to terms after an inspection, both parties can proceed with a home transaction. On the other hand, if a buyer and seller cannot reach an agreement following an inspection, both parties can reenter the housing market.
Lastly, when it comes to selling a home, it often helps to hire an expert real estate agent. This housing market professional can teach a seller about home inspections, as well as what to expect at each stage of the property selling journey. That way, a seller can prepare for any potential home selling hurdles and take the necessary steps to overcome such problems before they get out of hand.
For those who want to sell a home sooner rather than later, there is no time like the present to start preparing for the home selling journey. Lucky for you, we're here to teach you about the home selling journey and ensure you can enjoy a fast, profitable house selling experience.
Now, let's take a look at three tips to help you put together a home selling strategy.
1. Learn About the Local Housing Market
The real estate market is in constant flux. Thus, a housing sector that favors buyers today may shift into seller's favor tomorrow, or vice-versa.
If you learn about the local housing sector, you can differentiate a buyer's market from a seller's market. Then, you can map out your home selling plan accordingly.
Take a look at the prices of recently sold houses in your city or town. If you find that homes are selling at or above their initial asking prices, this may be a sign of a seller's market. Or, if houses are selling below their initial asking prices, the current real estate sector likely favors buyers.
Furthermore, examine how long houses stay available before they sell. If you discover that residences linger on the real estate market for many weeks or months before they sell, you will need to prepare to enter a buyer's market. On the other hand, if houses are selling as soon as they become available, a seller's market may be in place.
2. Find Out What Your House Is Worth
Conduct a house appraisal – you'll be glad you did. If you perform a property appraisal, you can obtain an accurate valuation of your house and price your residence appropriately.
Typically, a home appraiser will examine your residence both inside and out. This property expert also will evaluate assorted housing market data. After a home appraiser's work is complete, he or she will provide you with a property valuation.
With a property valuation in hand, you can establish an aggressive initial asking price for your residence. This price will help you stir up interest in your residence as soon as you list it.
3. Hire a Real Estate Agent
There is no need to work alone as you try to navigate the home selling journey. Thankfully, you can hire an expert real estate agent who can take the guesswork out of selling any house, at any time.
A real estate agent understands what it takes to sell a home in a buyer's or seller's market. He or she will help you establish an aggressive initial asking price for your house and promote your residence to dozens of potential buyers. Plus, if you receive an offer to purchase your home, a real estate agent will help you assess this proposal and make an informed decision.
When it comes to getting ready to sell a home, there is no need to stress. Take advantage of the aforementioned tips, and you can craft an effective home selling strategy.
It generally is a good idea to bring your A-game to the home selling journey. Because if you fail to put your best foot forward, it may take many weeks or months to stir up interest in your residence.
Ultimately, there are lots of things that you can do to generate interest in your home, such as:
1. Bolster Your Home's Curb Appeal
Your home only gets one chance to make a positive first impression on buyers. If your residence boasts exceptional curb appeal, your house is sure to make a great first impression.
Typically, upgrading a house's curb appeal can be quick and simple. Performing lawn care tasks like trimming the hedges and removing debris from walkways is ideal. Also, you may want to fix any cracked or damaged home siding.
If you need help with home exterior enhancements, you can always reach out to local professionals for assistance as well. By hiring home improvement specialists, you can bolster your residence's curb appeal without delay.
2. Set an Aggressive Initial Asking Price
The initial asking price you set for your home can have far-flung effects on the house selling journey. If you establish an aggressive initial asking price for your house, you could accelerate the home selling cycle.
To determine the best price for your home, it may be beneficial to conduct an appraisal. Thanks to an appraisal, you can receive a property valuation that you can use to help you decide how to price your house.
In addition, you may want to perform an inspection before you list your residence. After an inspection, you'll receive a report that details any underlying problems with your house. You then can use this report to prioritize home repairs and complete property upgrades so you can get the best price for your residence.
3. Work with a Real Estate Agent
A real estate agent knows what it takes to sell a home as quickly as possible. At the same time, a real estate agent understands how to help a seller maximize his or her house sale earnings. Thus, a real estate agent can provide insights and recommendations that allow you to achieve your desired home selling results.
With support from a real estate agent, you can receive expert guidance as you navigate the home selling journey. A real estate agent will work with you throughout this journey and ensure you can get the help you need to succeed. Plus, a real estate agent will respond to any of your home selling questions and teach you everything you need to know about selling a residence.
When it comes to selling a home, it is important to work hard to accomplish your goals. If you take advantage of the aforementioned tips, you can bring your A-game to the home selling journey. As a result, you can boost the likelihood of enjoying a memorable house selling experience.
Let's face it – the thought of entering the home selling market can be stressful, even if you don't plan to put your house on the market for several weeks or months. However, there are many simple ways to ensure you can enjoy a fun, exciting and successful home selling journey.
Now, let's take a look at three tips that you can use to kick off an unforgettable home selling journey.
1. Examine Your Home's Interior and Exterior
How will a potential homebuyer view your residence when he or she sees it for the first time? This is a question that you'll want to consider closely, as a homebuyer's first impression of your residence may dictate whether he or she moves forward with an offer.
Take a close look at your house's interior and exterior from a homebuyer's perspective. If home improvements are necessary, now may be the ideal time to complete these tasks. That way, you can enhance your house's interior and exterior before you add your residence to the real estate market.
Also, a home appraisal may help you identify problem areas with your residence. This appraisal enables a property inspector to examine your residence from top to bottom and can help you better understand your house's strengths and weaknesses.
2. Declutter Your Residence
Unfortunately, clutter can accumulate in a home over an extended period of time. But if you start decluttering your home today, you may be able to avoid the stress of cleaning out your residence as you get closer to adding your home to the housing market.
To declutter effectively, consider items that you need to keep and store them safely. Then, take the items that you no longer require and consider all of your options to get rid of them quickly and safely.
In many instances, you can sell excess items or donate them to charity. Or, you can always offer these items to family members and friends as well.
3. Meet with a Real Estate Agent
What does it take to get your house ready for the real estate market? Meet with a real estate agent, and you can learn everything you'll need to know about selling a house.
A real estate agent understands the ins and outs of the real estate market. As such, he or she can answer any questions that you may have about the home selling journey and help you plan accordingly.
In addition, after you list your residence, your real estate agent will streamline the home selling cycle. This housing market professional will set up home showings and open houses, promote your residence to large groups of potential buyers and much more. By doing so, your real estate agent will do everything possible to help you maximize the value of your residence.
When it comes to getting ready to sell your home, there is no need to worry. Instead, use the aforementioned tips, and you'll be able to enjoy a memorable home selling journey.
Sellers who are eager to attract serious buyers and maximize the value of their home often utilize home staging as a way to leave a good impression.
Homes that are skillfully staged look better in photos online, creating more leads, showings, and ultimately, offers. Furthermore, prospective buyers want to be able to envision themselves living in a home. Staging makes it easier for them to understand what it would look like and how spacious it will feel once it has been furnished.
Home staging by the numbers
You don’t, however, have to take my word for it. The National Association of Realtors (NAR) releases an annual report which collects and analyzes survey data from nearly 2,000 agents regarding their experience with home staging.
In their findings, they note that 62 percent of agents agree that staging a home lessens the time the property is for sale. Furthermore, 77 percent of agents said home staging makes it easier to visualize living in a home that would otherwise be empty.
Which rooms should be staged?
Staging an entire home takes an enormous amount of time and money. One way to simplify the process is to stage a select few rooms. In the NAR’s study, they asked agents which rooms they typically staged when selling a home. The results:
83% Living Room
69% Master Bedroom
66% Dining Room
31% Yard Space
25% Children’s Bedroom
21% Guest Bedroom
From these results, we can ascertain that it’s important to stage the main rooms of your home. Lesser used a multi-purpose rooms (like offices and guest rooms) aren’t as important to stage.
Can staging your home increase the sale price?
It’s difficult to say with certainty if, and by how much, home staging affects the sale price of a home. However, if staging your home is successful at getting the attention at a greater number of prospective buyers, there’s a good chance you’ll be able to go with the highest bidder.
When the NAR asked agents if staging increases the amount buyer’s offer on a home, their responses were somewhat mixed.
29% of respondents thought it increases the offer by one to five percent
21% of respondents say it increases the offer by six to ten percent
8% said it increases the offer from between eleven to twenty percent
14% said it had no impact on the dollar value of the home
27% were unsure if it had an impact on the dollar value
In general, it would seem that most agents feel that staging a home not only improves a buyer’s opinion of a home, but also increases its sale value. If you’re planning on selling in the near future, staging at least part of your home could be something to consider to give your property a competitive edge.