Selling your home is big business. After all, it’s probably the biggest financial asset you own. The process can be confusing and a little stressful, especially if you’ve never sold a home before. So, if you are thinking of entering the market, you might be wondering what it takes to make a sale.
REALTOR® Mike Kevern, Vice President and Associate Broker at Coldwell Banker Hubbell BriarWood, recently asked his team of over 30 agents in the Delta office what it takes to be a top home seller. Here is their list of the seven most important traits.
To make sure you are well prepared both mentally and physically (home), it is important to have a preliminary discussion with your REALTOR. Your agent will educate you on the current market, set expectations, answer questions, discuss prices, and more.
Physically preparing your home for sale usually takes some work, whether it’s your own sweat capital or hiring professional help. In addition to taking care of maintenance and repairs, you will need to clean, organize, declutter and depersonalize so that your home will appeal to the greatest number of buyers.
A house needs to be seen to be sold, and the more you limit visiting hours (24 hours notice, no visit between 4 p.m. and 6 p.m. …), the more you limit the number of potential buyers. Typically, successful salespeople allow visits seven days a week, as long as it’s not too early in the morning or too late at night.
And once you’re done with your prep work, try to keep your home living room ready, so it’s easy to put a few things away and run out when you get a last minute request.
Of course, opening your house to the public can be a bit uncomfortable, and booking a session just for dinner is impractical. But keep in mind that this is a temporary situation. If you are flexible with your projections, you can effectively shorten the time your home stays on the market.
The Kevern team says that while flexibility is key during the presentation process, it is actually a necessary trait throughout the transaction. From issues such as occupancy to changing closing dates, there are a lot of moving parts. The more flexible you are, the smoother the process will be.
Reasonable and responsive
Selling a home can be an emotional event, but try to control your emotions and think of it as a business transaction. Setting an unrealistic price, trying to limit types of financing, or becoming easily offended are just some of the unreasonable actions that can discourage buyers and delay a timely and profitable sale.
And don’t forget that communication is the key to a successful real estate sale. When questions arise and offers start to come in, be sure to respond to your REALTOR quickly in order to get things done.
Your real estate agent is there to do the heavy lifting, but it’s important that you do your due diligence, especially when it comes to understanding the local market.
Kevern says many people follow national trends and assume they apply everywhere, but he reminds us that real estate is local and market conditions vary by location and price.
“In the Lansing area, we have a 2 month supply of homes in the $ 100,000 to $ 150,000 range, but when you look at the homes in the $ 500,000 to $ 700,000 range, that is 15 months, ”he said. “At the low end, it’s definitely a seller’s market. But with more expensive homes in our area, buyers have the advantage. “
Remember, you hired your real estate agent for a reason and now is the time to trust them.
Feel free to speak up if you think things are not progressing the way they should, but similarly, try to take a step back and feel comfortable knowing that the sale of your home is being handled in a way. professional.
“Ultimately all parties are looking for a win-win, so trust the process and the experts,” Kevern said.
A good listener
With an experienced real estate agent, you’ll have the knowledge, support, and skills on your side, and it’s important to listen and learn as they guide you.
But selling a home is an important financial decision, so your REALTOR should also listen, consider your needs, and be open to your ideas and comments. The best agent-seller relationships are those with clearly defined expectations and open communication.
During this process there will be waiting periods which can drive you crazy and unexpected problems which will increase your stress levels. But if you can be patient through the tough times, it will be worth it in the end.
“Keep in mind that unforeseen problems and delays are quite common in the real estate world,” Kevern said. “From inspection issues or a poor appraisal, to buyer financing issues or closing delays, you can expect the unexpected. But that’s why you have a real estate agent who has experience with problem solving and can get things done to the finish line.
For a list of reputable local agents, visit the Greater Lansing Association of REALTORS® website at www.lansing-realestate.com.