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Are you considering buying or selling a primary residence or income property in the South Bay? Learn more about how we can help you conduct a seamless, stress-free transaction.
Selling : Steps 1 & 2
Needs Analysis - Pricing Strategy
#1 Needs Analysis
It is important to set out in writing the reasons that are motivating you to sell your current home. You might ask yourself, "Why am I selling my home and what do I expect to accomplish?" If you have a growing family and you need more space you may be under less pressure to get your house ready to sell than if you were, let's say, moving to a new city due to a career opportunity. Explore your short and long term goals and decide how selling your house fits into those goals. Doing this will help you to establish a time management path for selling your home.
Your agent can save you time and money by applying their expert knowledge to your particular needs and setting a realistic time frame for the process to proceed. They can explore all of the variables within your individual goals and how best to achieve them in your local real estate market.
#2 Pricing Strategy
Your next objective should be to determine the best possible selling price for your house. You will need to take into account the state of the local market, the condition of your home, and sales of comparable homes in your neighborhood. It is often hard to maintain an non-biased view of your property, so you will want to gather the necessary information in the most objective way possible. If you want a truly objective opinion about the price of your home you could have an appraisal done. This will need to be paid for up front, in cash, and may cost between three and five hundred dollars.
Be reasonable about the price you set. You will always be better off setting a fair market value price than setting your price high expecting that someone will come along and be willing to pay it. If your home stays on the market too long because it is overpriced potential buyers may think that something is wrong with it and you may end up selling it for less than what you could have gotten if you had started out with a realistic asking price.
Your agent can save you time and money by educating you on how to set the asking price for your home. He or she will create a comparative market analysis by taking into consideration the type of market you are in and recent sales of comparable properties. Your agent will then guide you to the best fair market price that will help sell your house within the desired time frame. Usually, real estate agents have a better sense of market value than anyone else- including appraisers!
Continue to Seller Tips 3 & 4
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