Selling your home in the current buyer's market can be intimidating at best. At worst the process can seem daunting and overwhelming. Understanding a few simple principals of selling a home can help turn what may seem like an impossible task into a breeze.
1- Be Honest With Yourself
Before listing your house for sale you need to give yourself a reality check. This means looking into exactly why you're selling your house and what risks you're willing to take to get out from under your mortgage. If you need to relocate for work reasons or strong personal reasons then the benefits of relocating are deeper than that of a large financial gain. Look at what your home pay off is and use that number as a baseline for sale. You won't want to sell for any less than it takes to clear your mortgage. However, in the current market it may be unrealistic to count on a major profit from your sale. Understanding this reality before choosing your list and sale price will help you make more sound decisions.
2-Do Your Research
Before choosing your list price you'll want to look into what similar homes in your area are selling for. Look at homes with similar square footage, bedrooms and bathrooms. Once you've found a price range window for similar properties, look into what makes your property unique in a positive way, and in what ways your home is less appealing that the competition. Positive factors include recent upgrades, good schools and low taxes.
Remember that home buyers search for homes by price, so get creative in choosing your list price. For example, a home listed for £159,500 will show up in the search for homes under £160,000 whereas a home priced right at £160,000 may not, depending on the search engine. Use these facts to adjust your price up or down to choose the best list price. A real estate agent can help you find that perfect price. Setting a lower and more aggressive price will get you more attention that setting a lofty asking price that may scare potential buyers away.
3-Maximize Exposure
You'll want to work with a real estate agent you trust to maximize the listing exposure of your property. A great agent will have the ability to take lots of photos of your property for online listings as well as using more traditional methods. With more and more home buyers seeking homes online, you'll want to make sure your online listing is easily accessible to those house shopping and that it looks great. You'll get better online photos by leaving all your interior lights on during a photo shoot and by removing clutter from your home. Well lit and open spaces appear larger and make it easier for the buyer to imagine their possessions in your space.
4- Take All Offers Seriously
If you can afford to cover closing costs as part of the offer, be sure to mention this. Additionally, including a home warranty can really sweeten the appeal of your home to first time buyers. The cost to you is minimal (usually only a couple of hundred pounds) and could help secure a more speedy sale. Remember that you have to make your home and your deal more appealing than the house down the street.
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