The sale of a home can be an emotionally difficult affair that is long-drawn, especially if you are a first-time seller. It may feel like you have no privacy with all the potential buyers coming into your home for viewings, having a look at your rooms and living spaces which you consider to be private. They might criticise what you call a dear home, and to make matters worse, they may try to lowball and give you a much lower amount than you asked for. In fact, they may challenge you and ask about things like your Mobile home value.
It should come as no surprise then, that it is easy for first-time sellers to make many mistakes and risk losing out on potential earnings in such a complex and emotionally charged transaction. Yet, this can easily be avoided if due diligence is performed. Read on to learn more about how to get the best price for your house within a reasonable time, all without having to lose your sanity!
Keep the Emotions at Bay
Your house is more than a piece of property, it is somewhere you call home. It is easy to become emotional at the thought of having to part with it after spending much time and effort to get it in the first place, paying off the mortgage and having to part with all the precious memories built in it. Especially if this is your first home! But you have to keep your emotions in check.
Once the decision to sell has been made, forget your persona as a homeowner. Instead, adopt the persona of a salesperson. This helps you to look at the transaction only in terms of the financial gains or losses and distances you from the emotions you may have as a homeowner about to part with your property.
Put yourselves in the shoes of a homebuyer. As a homebuyer, you will likely be looking for more than a house, you’re also looking for a lifestyle. With this frame of mind, you are more likely to stage how your house looks by doing minor remodelling or perhaps putting out your best china and curtains. This helps you to increase the sales price and potential, while at the same time distancing yourself from the house due to the decreased familiarity.
The Need for a Property Agent
To hire a property agent or not is often a question that many people looking to sell their homes may have. Property agents often ask for a high commission of around 5% to 6% of the final sale price. Though the task of selling your home may be difficult and entice you to hire an agent, you should remember the commission payable will affect your profits. However, it can also be tempting to DIY everything. We weigh the pros and cons of each way for you.
A good property agent will ensure that you get a good price for your home, by setting a price that is fair and competitive relative to other properties around yours. This helps to attract buyers, hence making it more likely for a sale to be concluded. The property agent will also help you to keep your emotions in check by taking over the interaction with buyers and eliminating people who only wish to view your property but not actually make efforts to offer a fair price.
With experience under their belt, the agent is likely also able to negotiate a better price for your home than you would be able to do on your own. Being a complex process, problems are bound to arise, and the agent will be able to advise you about paperwork or any common mistakes that can occur in the process.
Open With a Price in Mind
It is expected that any buyer with their wits about them will want to negotiate for a lower price for your house. Be ready for this by listing the selling price as a price that can pull in buyers, while still leaving yourself room for downwards negotiation. This allows the buyer to feel that they got a good deal since they paid less than the asking price, while you still earn some profit from the sale. In the end, your final sale price may be affected by various factors such as if it is a buyer’s market or a seller’s market.
Avoid Making a Sale in Winter
The winter months are not usually a good time for home sales, as people are usually busy with social activities in this part of the year. Moreover, when it’s cold, people are also less likely to want to venture out of the comfort of their homes. With fewer buyers looking around, it takes longer for a sale to be completed and the sale price may not be as ideal as you had hoped for. The flip side is that there likely won’t be as many sellers as well, so make of that what you will, and decide if you are willing to list your home in the winter months or not.
The Importance of Taking Photos for Your Listing
In our increasingly digitalised world, photos can make or break a sale. With many buyers looking for homes using the internet, your house will stand out among the many others listed if you have good photos available for viewing.
Consider taking photos of your house during the day where there is natural light available. The photos will be clearer and well-lit, making it more pleasant to the eye and showcasing the best look of your home. Use a wide-angle lens if you have it, as this allows for an idea of what the whole room would look like, rather than a cramped portion of it. If you have the budget for it, consider hiring a real estate photographer to get the best possible photos.
To stand out more, consider filing a 360-degree view or a video tour of your home to make your listing more attractive. This can be easily done using a smartphone camera. This might help you to get more offers, as buyers can properly view your house without having to guess if the photos provide an accurate view of it.
If you are looking to get a good price from the sale of your house, it is crucial that you read up on how to do the sale. Make sure that you are prepared for the worst scenarios where the prices may not be ideal or where your home doesn’t get buyers fast enough. Be prepared for such cases and try to avoid being in such a situation, by familiarising yourself with the tips we have curated here.