When To Reduce The Price Of Your Home

If your home is on the market, you may wonder why it hasn’t moved off the market. There are many ways to make adjustments to the price of your home, but if not done correctly, you could sabotage the sale of your home. Let’s say that you have your home as an FSBO (For sale by owner.) Buyers may wonder what’s behind the price of the house. Does the seller genuinely want to move the home to the sold category quickly? Why has the home been for sale so long? 

You could face the same problems if you’re working with an agency. The difference is that s a seller, the agency is by your side, helping you to make the right decisions when it comes to pricing your home.

Realistic Expectations

You need to be realistic when pricing your home as a seller. Of course, you want to make a return on your home. Of course, you think your home has great value. The critical point is that you need to understand the state of the market along with the neighborhood your home is located. So much goes into the pricing of a house. 

Investigate

Along with your agent, you can do some investigating to see where some improvements could be made in marketing your home. Look at the following:

How has the house been received on the MLS?

Are the significant benefits of the home highlighted?

How many open house opportunities did buyers have?

Are there good pictures of the house online? 

Do the signs leading to the house stand out? 

Can you add anything to the marketing of the home like a virtual tour? 

While real estate agents have general guidelines as to how a home at a certain price point should be marketed, you can always be your own advocate.

The Consequences Of High Pricing

If you price your home too high, there are some consequences. Your home will stay on the market for an extended period of time if it’s overpriced. Buyers will wonder why the house has been listed for so long, wondering if there’s something wrong with the property. Buyers will wait even longer to bite on the home in these circumstances because they are waiting for a price drop. 

The Solution

The best thing you can do in this circumstance is to take your home off the market. Work with your real estate agent. He can let you know whether it’s a good time to re-list the home. Perhaps you can make some improvements to the property in the meantime. A fresh listing and a clean look at the house may help buyers to find the property more easily at a price that pleases them!      

3 Things You Need to Consider Before You Host an Open House

An open house offers an excellent opportunity for a seller to showcase his or her residence to a large group of buyers. As such, it is important for a seller to plan ahead for an open house. If a seller devotes time and energy to prepare for an open house, his or her residence may make a positive impression on buyers.

Ultimately, there are several things that sellers need to consider before they host an open house, such as:

1. Home Interior and Exterior

A home’s interior and exterior must dazzle buyers during an open house. Otherwise, a home is unlikely to make a long-lasting impression on a buyer.

To upgrade a house’s interior, a seller should clean each room. Mop the floors, wipe down countertops and ensure each room is neat and tidy. Also, professional home cleaning companies are available that can help a seller quickly remove dirt, dust and debris from his or her residence.

Meanwhile, to upgrade a home’s exterior, a seller should repair any damaged or cracked siding. If a seller requires extra assistance, he or she can reach out to local home improvement professionals to perform house exterior repairs as well.

2. Lawn Care

A home’s messy, weed-filled lawn is unlikely to garner buyers’ attention. In fact, this lawn may prove to be an instant turn-off to buyers when they attend an open house.

For sellers, it can be quick and easy to enhance a home’s lawn. By mowing the lawn, trimming the hedges and performing other lawn care tasks, a seller can transform a drab lawn into a stunning one.

A seller should continue to take care of his or her lawn throughout the house selling cycle, too. If a home has an amazing lawn, this residence may capture buyers’ attention, regardless of when a seller hosts an open house.

3. Clutter

Antiques, knick-knacks and various decorations may fill your house, but these items may appear to be “clutter” in the eyes of homebuyers. Therefore, you may want to put your personal belongings into storage before you host an open house. This will allow you to keep your personal items safe during an open house. At the same time, it will help buyers envision what life could be like if they purchase your residence.

Preparing for an open house sometimes can be difficult. Thankfully, you can hire a real estate agent who can help you plan for any open house, at any time.

A real estate agent can provide recommendations to help you prepare for an open house. Plus, he or she can share buyers’ feedback following an open house and ensure you can make your residence into an attractive option for buyers.

Ready to host an open house? Consider the aforementioned factors, and you can get ready for an upcoming open house. And as a result, you can boost the likelihood that an open house leads to multiple offers to purchase your residence.

How to Avoid a Home Selling Fiasco

For those who want to enjoy a fast, profitable and seamless home selling experience, there is no need to worry. In fact, there are many things that you can do to minimize the risk of a home selling fiasco, and these include:

1. Conduct a Home Inspection

A house inspection usually is completed after a seller accepts a buyer’s offer to purchase a residence. At this time, a buyer typically requests an inspection to identify any underlying house issues. If a buyer is satisfied with the inspection results, he or she likely will proceed with a home purchase. Or, if a buyer encounters myriad home problems, this buyer may reconsider his or her offer to purchase a residence.

By conducting a home inspection before you list your house, you can immediately identify any underlying home problems. You then can work to correct various house problems and avoid the risk that such issues could potentially slow down or stop a home sale in the near future.

2. Perform Home Upgrades

When it comes to selling a house, it generally is a good idea to be proactive. And if you allocate time and resources to upgrade your house now, you may be better equipped than ever before to stir up lots of interest in your residence as soon as it becomes available.

To enhance your house’s exterior, you should mow the front lawn, fix any cracked or damaged home siding and perform assorted home exterior repairs. By doing so, you can improve your house’s curb appeal.

Furthermore, don’t forget to devote attention to your house’s interior. If you can clean every room of your home and eliminate clutter, you could boost the likelihood of a successful home selling experience.

3. Collaborate with a Real Estate Agent

Getting the best results – and avoiding potentially time-intensive and costly problems – is paramount for any home seller. If you collaborate with a real estate agent, you can get the help you need to quickly sell your house and maximize your earnings.

A real estate agent is happy to help you kick off a successful home selling journey. First, a real estate agent will meet with you and learn about your house and home selling goals. He or she next will help you craft a home selling strategy based on your residence and the current real estate market’s conditions. Then, a real estate agent will promote your residence to buyers and host open house events and home showings. And once you receive an offer to purchase your residence, a real estate agent will help you review this proposal and make an informed decision.

Let’s not forget about a real estate agent’s industry expertise, either. If you ever have questions during the home selling journey, a real estate agent will instantly address these queries.

Reduce the risk of encountering problems when you sell your house – consult with a real estate agent today, and you’ll be able to receive comprehensive assistance at each stage of the home selling journey.

Responding to a Lowball Offer on Your House

Homeowners put a lot of time, money, and effort into maintaining, updating, and decorating their homes. So, when it’s time to sell it can be frustrating to receive a lowball offer on your home.

Many sellers aren’t sure how to react to a low offer. However, with so much at stake it’s important to go into selling your home with a plan.

In this article, we’re going to talk about how to handle a low offer on your home so that you can capitalize on even the less-than-ideal prospects when selling your house.

Every offer deserves a polite response

So, you’ve gotten an offer on your home that you consider to be way too low. The first thing you need to do is to detach your emotions from the situation so that you can formulate a polite, but appropriate response.

It is the custom of many people around the world to negotiate. And one common practice in negotiation is to start with a low offer. Therefore, don’t be offended if you receive an offer that is low as it likely isn’t meant as an insult to you or your home.

We understand that selling can be frustrating, so if you need to vent, talk it over with your family or agent. Together you’ll be able to get past the initial frustration and come up with a quick, practical response to the offer.

Counter the offer anyway

Even if you think there’s a small chance that the prospective buyer will raise their offer to fit your requirements, it’s still worth providing a counter offer. This will make it clear to the buyer that you have received their offer and considered it.

Failing to provide a counter offer could mean you miss out on a serious offer in some cases, so it’s worth the small amount of time it takes to provide.

Don’t waste too much time negotiating

So, you’ve sent a counter offer and have received a response that still isn’t getting anywhere close to what you’re looking for. Now what?

In this situation, it’s best to send a concise and cordial message to the buyer that you won’t be able to adjust your offering price any further and then thank them for their time. After this point, it likely isn’t worth your time to continue negotiating.

Low offers can be helpful

If you’re getting a lot of low offers and none in the range you hope for, it could be time to reconsider a few things. You might want to try a new approach, such as staging the home or highlighting certain details that you may have missed. If your listing photos aren’t up to par you can upload new ones that are higher quality with better lighting.

Next, see if the comparable listings in your area have gone down in price. A substantial change in the local market since the time you listed your property is, in some cases, enough to influence the offers you receive.