Factors Which You Should Consider When Selling Your House:
Select the right Real Estate Sales Person to represent you.
Your house is possibly your most important asset. Don't just list with anyone. Make sure that you are dealing with an experienced, full-time real estate sales person with an impeccable reputation in your area. As your Sales Representative I will get the best price attainable for you. I will sell your house for you in the shortest time possible and with the least incovenience to you.
Should you Buy or Sell First?
This is one of the first questions and the greatest dilemma facing home owners planning to move.
If you choose to buy first, your offer to purchase should be conditional on selling your current house. That way, if you sell your house, both transactions proceed and if you don't sell it, you're not committed to purchase a second house. However, when you make an offer to purchase conditional on the sale of your house, you have the risk that you'll be "bumped" if a second buyer makes a firm offer and forces you to either firm up your purchase or release your conditional offer and allow the seller to accept the second offer.
Selling first has several advantages. You'll know exactly how much money you'll be netting from the sale of your house, you'll have a closing date to work with and you'll have additional leverage when making an offer to purchase your next house. Selling first enables you to negotiate your purchase more vigorously, since unconditional offers are preferred by sellers.
Should you sell your house yourself or use a professional real estate sales person?
Maximize your exposure to potential buyers by listing your house with a real estate brokerage, putting it on an MLS(R) system and using your professional real estate sales person’s advice on pricing your house. You need the maximum exposure possible, to generate the highest price possible. The longer your home is on the market, the lower the selling price may become, because many buyers think that if the house has not sold after a lengthy period, there must be something wrong with the house.
The selling/buying process begins after the buyer leaves your house. Many sellers think that all it takes is for someone to see their house, fall in love with the house and the offer will automatically follow. If there is not a real estate sales person involved, potential buyers usually leave the house and start to talk themselves out of the buying process. Real estate sales persons are trained to overcome buyer’s remorse, a very common occurrence. Many buyers find it extremely awkward to negotiate with or even to talk directly with sellers and therefore want to work with a real estate professional.
In today’s real estate environment, the majority of qualified buyers are working with an experienced real estate professional as their buyer-agent; therefore you should also have the negotiating experience of a real estate sales person acting to protect your interests. Many serious buyers will ignore a house for sale, other than through a real estate brokerage, because they recognize that the house is not in the real estate mainstream.
If you are planning to sell your house yourself and use a Lawyer to help you negotiate both the terms of the offer and your selling price, then your lawyer's fees will be considerably higher and your Lawyer may not have the market knowledge that an experienced real estate professional can bring to the process, to maximize your selling price.
Real estate sales persons have access to up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales persons. In addition, real estate sales persons are involved in the real estate market on a daily basis. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.
You only pay the commission to the real estate broker, if they successfully sell your house at a price with which you are happy.
Accepting an offer is only one of the steps in the real estate transaction. Obtaining a safe and successful closing is the final step. Real estate transactions sometimes have problems prior to closing. This is the time that your experienced real estate professional, may be very important, because your real estate sales person can assist with the negotiations to help resolve the issues to enable the transaction to close successfully on time.
When is the Best Time to Sell?
Real estate markets alternate between a “buyer’s market” and a “seller’s market”. The market into which you are selling your house will affect your selling price and the length of time it may take to sell. Interest rates and other economic factors will similarly affect your sale. The time of year you choose to sell could also affect the amount of time it takes to sell your house and in the final selling price. Usually the real estate market picks up as early as mid January and begins to slow towards the end of November when buyers and sellers traditionally turn their attention to the holidays. Sellers often ask whether they should take their houses off the market for the holidays. Generally speaking, you'll have your best results if your house is available to show to prospective buyers continuously until it sells.
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