4 QUESTIONS TO ASK BEFORE SELLING A HOME
Selling your home is a big financial and emotional task, which requires lots of planning. So before you decide to put your home on the market, here are four questions to consider.
What is my home worth?
Several factors go into determining your home’s market value. These include the condition of the property, square footage, location, amenities, as well as recent comparable property sales and current competition in your price range. For a snapshot of your home’s current value, you can enter your address into a free online value estimator tool.
Keep in mind that computer generated estimates are based strictly on currently available data. They have never seen your home and do not know it’s condition, they do not know what renovations or updates have been made, they do not know the condition of the properties that have sold in your market, and they do not know the motivation of those sellers. If a home sold for a very low amount, the AI will simply factor that value into the mix with all the others. An agent is able to discern if that property simply does not belong in the mix. Was that property in particularly bad condition? Was the seller in a situation that made it necessary for them to ‘dump’ the property?
Computer generated estimates are a good place to start, but they are no substitute for a professional real estate agent’s knowledge of your market and experience. Be sure to follow up with a professional before moving forward.
How can I sell at the highest price possible?
There are several simple, low-cost things you can do to boost the value of your home. These include eliminating clutter, washing windows and walls, and installing higher wattage bulbs to create a brighter environment. Larger projects, like adding bedrooms and renovating kitchens and bathrooms, typically yield more substantial increases in sales price. Staging your home, which helps paint a picture for how buyers will use their new space, can also add perceived value.
How long will my home be on the market?
The time your home spends on the market depends on several factors, including location, how competitively your home is priced, and how aggressively your home is marketed. Statistics show that if a home is properly priced, an offer should come in within the first 12 showings. If you want to speed up the sales process, don’t underestimate the value of staging. Research shows that well-staged homes can sell up to 32 percent faster than homes that aren’t staged.
How can an agent help?
A professional real estate agent can help with all aspects of the selling process, from pricing to marketing to handling the intricacies of closing. As a part of your home selling team, we will negotiate on your behalf to secure the best price – and quickest sale – possible. We would love to help guide you through the selling process. Contact us for a free consultation!