Pricing your home can be a little more complicated than you might think. There’s a lot more to the value of your home than just the price you initially paid for it and the money you put into home improvements.
It’s critical to get your pricing right. If you price it too high, buyers aren’t going to bother submitting a bid, resulting in your house sitting on the market for a potentially long time. And the longer it sits on the market, the harder it will become to sell.
With that in mind, the following are a few tips on how to price your home to sell:
1. Consider the Current Real Estate Market
If you’re in a seller’s market, there are going to be more buyers than sellers, meaning you have some more flexibility when it comes to your price. However, setting a fair price can also help spark a bidding war.
On the other hand, if you’re in a buyer’s market, there are going to be fewer buyers and more sellers, which means overpricing your home is going to scare buyers away.
2. Compare Your Home to Recent Sales in Your Area
To get an accurate value of your home, you should compare it to similar houses that sold in your neighborhood within the past 6 months. This will give you a better idea of what the market has determined the value of your home to be.
3. Take into Account How Desirable Your Area Is
The quality of your neighborhood has a big impact on pricing. Things like a good school system and lots of local amenities can affect the value of your house.
These are three tips that will help you to price your home to sell. Pricing your home too high can make it difficult to sell while pricing it too low can cause you to lose money.
For professional help pricing your home, be sure to contact us at Randy Lindsay today.
When it comes to staging your home and showing it to potential buyers, there are a lot of things you’ll want to take into consideration. After all, you want your home to look its very best in the photographs posted on your listing and in-person; during an open house or private tours.
Lighting is an underrated facet of successfully selling your home. Good lighting is absolutely essential:
- Poor lighting hurts the quality of your photos – Professional photographs require professional lighting. Poor lighting can make it difficult for buyers to see your pictures clearly. In photographs, rooms may appear much darker than they actually are if proper lighting isn’t used. Because your pictures represent your home, they are critical to motivating potential buyers to schedule in-home viewing appointments.
- Poor lighting makes your home feel smaller – The darker a room is, the smaller it tends to feel. People looking at your home are going to have a much better impression of it if your space is well lit. Small rooms in particular are going to feel even smaller if they are dark. Introduce more natural light and artificial light to make your spaces feel more open.
- Poor lighting makes your home feel less taken care of – If buyers viewing your home notice certain light fixtures don’t work or the light is too dim in some rooms, they’re going to get the impression you don’t take good care of your house. They may also assume there are other issues. Darker rooms feel dirtier and less inviting.
These are a few reasons why it’s so important to ensure your home’s lighting is good. Fix all outlets and light fixtures that aren’t working and change out your lightbulbs before photographing and showing your home.
For more tips on selling your home, contact us at Randy Lindsay today.
If you’ve lived in your home for more than a few years, there’s a good chance you invested in some upgrades at some point. These home upgrades could include new flooring, new kitchen cabinets, add-ons (such as newly built rooms), finished basements, new decks, and much more. When listing your house for sale, you’ll want to make sure you market any upgrades you’ve made.
By “advertising” your upgrades, buyers will see which parts of your home are brand-new and how value was added to the property. This is particularly important if the house itself is older; it indicates there will be fewer future repairs or renovations needed.
Here are 3 home selling tips for marketing your upgrades:
- Describe the upgrades – Don’t casually mention the upgrade (for example, “upgraded kitchen.”) This doesn’t tell the buyer anything. Explain exactly what was upgraded: “Installed new kitchen cabinets” or “brand-new outdoor deck.”
You should also mention what materials were used, such as “new granite countertops.” Be sure to mention the brand of the material used as well, especially if you invested in a renowned brand.
- List the cost of the upgrades – Add how much you spent on the upgrade. This will add value to the property in the buyer’s mind and help justify whatever price you’ve set.
- Photograph the upgrades – If you’ve made major upgrades, show them off. For instance, if you installed a backyard deck, make sure to take well-lit photographs of the area. Drawing attention to the upgrade will spark more interest.
Use these home selling tips to market your property’s upgrades. For assistance marketing and selling your home, contact us at Randy Lindsay today.
If you plan to sell a home, you may want to do a few renovations and repairs first. For example, if the exterior paint is fading, you might want to repaint your house. If one of the outlets doesn’t work, you might want to have an electrician do some repair work.
Minor repairs make your home more attractive to buyers. However, not all sellers have the time or money to invest in repairs and renovations. If this is the case, you might consider selling a home as-is. Before you do, be sure to weigh the pros and cons.
3 Pros of Selling a Home As-Is
1. Avoid inconvenience
Repairing and renovating a home can be very inconvenient, especially if there’s a lot of work to be done. You may have to hire different specialists to perform different tasks. Each task will require a significant amount of decision-making on your part. It can be a hassle.
2. Sell faster
You can put your as-is home on the market right away. Because your home may be priced below market value, you may find a buyer faster.
3. The selling process is easier
You won’t have to worry about pre-sale inspections, staging, open houses, and more. Buyers know what to expect with an “as-is” property, so the sales process may be quicker and easier.
3 Cons of Selling a Home As-Is
1. Buyers are harder to find
Most buyers don’t want the inconvenience of repairs and renovations. You’ll be limited to those looking for a good deal and a fixer-upper.
2. Buyers will negotiate more
Because it’ “as-is,” most potential buyers will try to negotiate the price down even further.
3. You will make less
Few will pay market value for a house in need of significant repairs or renovations. You may have to price the property below market value.
If you’re thinking of selling a home as-is, be sure to weigh the pros and cons. For more advice about selling a home, contact us at Randy Lindsay today.
The last thing you expect to do when you put your home up for sale is to remove it from the market. When it comes to home selling, there are a number of situations in which that is exactly what you should consider.
The following are 4 examples in which taking your house off the market is the best course of action:
1. Your House Has a Serious Problem
If you discover there’s a serious problem requiring significant repairs (like, the roof needs to be replaced), then you should take your home off the market. Address the problem. If you don’t, the problem will scare potential buyers away.
2. Your Personal Situation Has Changed
If your financial situation has changed for the better or the worse, you should consider whether that affects the sale of the house. For example, if you were being forced to sell due to financial stress but suddenly found a job, you may want to take your house off the market.
3. You’re Getting Bad Offers
If your real estate agent helped you price the house properly and the only offers you’re getting are lowball offers, you might want to remove your listing. The longer you keep your house on the market, the more buyers will think there’s something wrong with it. They will continue lowballing you.
4. You’re in the Middle of a Buyer’s Market
If there are way too many houses for sale in your area, it can result in fewer buyers willing to pay your price. You may want to take your listing down and wait until the local real estate market changes in your favor.
Sometimes removing your house from the market is a good idea. These are just a few examples.
For more home selling tips, contact Randy Lindsay today.
You’ve decided to sell your house. One of the options you might be considering is FSBO (for sale by owner). FSBO means you’re selling the house without the assistance of a real estate agent. Home sellers choose this option thinking they’ll save a significant amount of money on agent fees. Upon closer inspection, you’ll see this isn’t a good idea.
Here are some of the reasons you should not risk listing your house FSBO:
- Liability is on you (the seller) – If you don’t advertise the house exactly as-is or disclose all required information, you could be vulnerable to potential lawsuits. An agent knows how to avoid lawsuits from buyers and carries insurance to protect against such suits.
- Pricing the home accurately is difficult – The value of your home is dictated by the local market. If you overprice your home, it will sit on the market too long, severely diminishing its value. If you underprice, you’ll lose money. A good agent is knowledgeable about the local market and can use comps to price your house properly.
- There’s a lot of paperwork involved – The amount of paperwork involved with selling a home can be overwhelming. An agent will ensure you have all the right paperwork and that it’s all in order.
- You’re more likely to make mistakes – Serious mistakes can result in bad deals or lost money. Good agents have experience and can provide guidance to prevent serious errors.
When it comes down to it, FSBO simply isn’t a good idea. You’re much better off working with a local real estate agent. If you need a reputable real estate agent to sell your house, be sure to contact us at Randy Lindsay today.