Ron Morrison & Pat Bagni-Latimer's Blog
As a first-time home seller, it is important to avoid shortcuts. By doing so, this home seller may be better equipped than others to reduce the risk of accepting a "lowball" offer on his or her residence.
A lowball offer is something that every home seller would like to avoid. Yet a home seller who lacks real estate knowledge and insights may struggle to identify a lowball offer, particularly if he or she is listing a residence for the first time.
Ultimately, there is no need for a first-time home seller to settle for a lowball offer. Lucky for you, we're here to teach you how to identify a lowball offer in any real estate market, at any time.
Now, let's take a look at three tips to help a first-time home seller identify and address a lowball offer on his or her residence.
1. Learn About the Housing Market
The housing market often fluctuates, and a real estate sector that favors home sellers today may morph into one that favors homebuyers tomorrow. As such, a first-time home seller should allocate the necessary time and resources to monitor real estate market patterns and trends closely.
To learn about the housing market, it is essential to analyze available houses in your city or town. Furthermore, don't forget to assess available houses that are similar to your own.
Housing market data can provide pivotal insights that a home seller can use to stir up substantial interest in his or her residence. Plus, these insights can help a home seller establish a competitive price for a home, thereby reducing the risk of receiving a lowball offer on his or her house.
2. Understand Your Home's Value
For first-time home sellers who want to avoid lowball offers, a home appraisal is ideal. In fact, a home appraisal can make it simple for a first-time home seller to understand what his or her property is worth based on its current condition.
As part of a home appraisal, a property inspector will assess a house both inside and out. After the appraisal is completed, the inspector will provide a home seller with a report that outlines his or her findings. Then, a home seller can use the report findings to review a house's strengths and weaknesses and complete home improvements as needed.
A home appraisal can help a home seller uncover ways to bolster a house's interior and exterior. In addition, the appraisal can provide insights that highlight a home's true value and help a home seller minimize the risk that he or she will accept a lowball proposal.
3. Collaborate with a Real Estate Agent
A first-time home seller may be uncertain about how to proceed with an offer. Fortunately, real estate agents can provide unparalleled insights into the housing market and help home sellers make informed decisions.
In most instances, a real estate agent is happy to discuss an offer with a home seller. This housing market professional can offer honest, unbiased home selling recommendations to ensure a home seller can differentiate between a lowball offer and a strong proposal as well.
Avoid the danger of accepting a lowball offer on a residence – use the aforementioned tips, and a first-time home seller will be better equipped than ever before to accept the best proposal for his or her house.
Selling your home may seem like a relatively simple process. You hire an agent, let them take pictures and show the house to prospective buyers, accept an offer, and then close… right?
In reality, there’s a lot that goes into the selling process; especially if you want to have a smooth home sale.
Matters are further complicated by hr fact that most sellers are also in the process of buying, closing, and moving into their new home.
To make the most of your time in the weeks or months leading up to your sale, I’ve put together a list of tips that you can use to get ahead of the curve, making your sale as problem-free and simple as possible.
One of the most important lessons homeowners learn when they sell their first home is how quickly moving day creeps up on them. Make a list of all of the things you need to do before you hand over the keys, and set dates and reminders in your calendar for those tasks.
You can do this if you’re in the beginning stages of finding out when you want to sell by, or if you’re in the final stages of packing and moving your belongings to your new home. Regardless of where you are in the home sale process, you can always benefit from preparedness.
Find an agent
To get the ball rolling, reach out to a real estate agent sooner rather than later. They’ve been through this process several times before and will be able to give you advice that is catered to your specific situation.
Make sure your home is ready for sale
We all love our homes and value the time and effort we put into them. But, to get top dollar for your home and ensure a smooth sale, you’ll probably need to do some work.
This can include getting an inspection to ensure that the vital components of your home are working properly. Knowing this now can save you time and headaches if a buyer’s inspector finds an issue with your home that you weren’t aware of.
Similarly, you’ll want to make your home move-in ready by making small repairs, putting a fresh coat of paint, and cleaning up the exterior of the home.
Do your research when setting a price
Setting the price of a home is not a road you want to take shortcuts on. Research prices for comparable homes in your area, consider recent repairs you made, and value the home at what you think is a fair price.
However, don’t get too attached to one number and be prepared to adapt based on the offers you receive.
Have a moving day plan
Planning for moving day could be its own separate blog post. You’ll want to start packing things you don’t need early on in the process. Then, make arrangements for young children or pets, so that you can focus on the move rather than keeping track of everyone else.
When you’re looking to sell your home for a great price, there are a few things that you can do to give the sale an edge. All of the ideas you’ll find below are inexpensive yet effective for sprucing your home up fast.
Hide And Brighten What You Can
Do you have an old, lumpy sofa, an old, unsightly lamp, or a scratch on the wall? You can easily cover these things up without making any major changes. Use a slip cover, some touch-up paint, or even new bedding to help brighten any room or furnishing. You could even consider adding new window treatments or additional lighting to assist in giving your home a refreshed look. As a rule of thumb: If it looks old and you can’t remember when you last replaced the item, you should probably replace it.
Use Paint Strategically
With the right paint, you can accentuate or downplay the features of a room including fireplaces and windows. Portions of the room that would otherwise be lost can be highlighted with the right use of color.
Make The Room Seem Larger
Do you have low ceilings or small rooms? You can make the room seem larger just by making use of vertical lines or using the higher spaces in the rooms of your home. Easily mount shelves on your walls in order to store things to give the room the illusion of having more space.
Your home can look like a new place when you take the time to deep clean the area. Don’t miss out on any part of any room. Use a little elbow grease and pay attention to neglected areas like the pantry, laundry room, and refrigerator. Get rid of any odors in the home. Potential buyers will definitely notice if things don’t smell right upon entering the house. You can use natural cleaners made of baking soda, vinegar, and lemon juice in order to freshen up everything from rugs to toilets. This stage of the makeover process may take you some time, but it’s definitely worth it.
Don’t Forget The Little Touches
Adding in little things before an open house can also make a big difference. Put some fresh flowers on the table. Light some candles. Fluff the pillows. Take the time to remove unnecessary items from the counters and tables as well. The less cluttered the home looks, the better. Buyers like open spaces, but they also like to be able to see themselves in the space and you can help them to do just that.
Ready to sell a house for the first time? Ultimately, selling a house can be challenging, particularly for those who are unfamiliar with the real estate sector. But with the right home selling guidance, you should have no trouble getting the best price for your house, regardless of your property selling experience.
Now, let's take a look at three vital tips for first-time home sellers.
1. Consider Your Home in Relation to the Housing Market
Although you've likely enjoyed your residence for an extended period of time, you might have no idea how your house compares to similar homes in your area. Fortunately, a first-time home seller who assesses the real estate sector closely can find out how his or her residence stacks up against the competition and plan accordingly.
Check out the prices of available houses in your city or town. By doing so, you may be able to define a "competitive" price for your home based on the present housing market's conditions.
Also, don't forget to analyze the prices of recently sold homes in your area. This housing market data can help you determine whether you're about to enter a buyer's market or a seller's market.
2. Conduct a Home Appraisal
A home appraisal gives you the opportunity to gain expert insights into the current condition of your house. After the home appraisal is finished, you can decide if property repairs are necessary to upgrade your residence before you add it to the real estate market.
Hire an experienced home appraiser to complete your property appraisal – you'll be glad you did. This home appraiser likely understands the ins and outs of examining a house's interior and exterior. As such, he or she will go above and beyond the call of duty to provide you with comprehensive insights that may help you find ways to differentiate your house in a competitive housing market.
In addition, evaluate the results of a home appraisal closely. These results may prove to be essential, as they can empower you with the insights you need to enhance your residence both inside and out and boost your chances of optimizing the value of your house.
3. Work with a Real Estate Agent
A real estate agent is happy to work with a first-time home seller and help this individual achieve his or her property selling goals.
Usually, a real estate agent will help a first-time home seller establish realistic property selling expectations. He or she will provide honest, unbiased home selling recommendations to help a first-time seller minimize stress throughout the property selling journey as well.
With support from a real estate agent, a first-time home seller may be able to accelerate the property selling cycle too. A real estate agent will even respond to a home seller's concerns and questions time and time again.
When it comes to selling a house for a first time, there is no need to worry. Take advantage of the aforementioned tips for first-time home sellers, and you can seamlessly navigate the property selling cycle.
Want to add your house to the real estate market? Work with an expert real estate agent, and you can streamline the home selling process.
A real estate agent can make a world of difference for any home seller, at any time. This housing market professional will teach you the ins and outs of selling a home and ensure you can get the best price for your residence. Plus, he or she will be ready to respond to your home selling questions and provide consistent support as the home selling journey progresses.
Ultimately, it is important to understand what it takes to work with a real estate agent. This will allow you to maintain a positive approach throughout the home selling process. It might help you improve your chances of a quick sale too.
What does it take to work with a real estate agent? Here are three rules that every home seller should consider.
1. Hire a Real Estate Agent That Makes You Feel Comfortable
Selling a home can be stressful, particularly for a first-time property seller. Fortunately, working with the right real estate agent ensures you can receive world-class home selling guidance.
As a home seller, you should employ a real estate agent that makes you feel comfortable. This housing market professional will be able to alleviate your home selling concerns and guarantee you are fully supported at each stage of the home selling journey.
2. Keep the Lines of Communication Open at All Times
What good is a real estate agent if he or she won't keep you up to date about home showings, offers on your residence and homebuyer feedback?
For a home seller, it is paramount to collaborate with a real estate agent who can provide immediate assistance. This housing market professional should be ready to communicate with you via phone, email and text and provide regular updates throughout the home selling cycle.
Your real estate agent also should be unafraid to be honest with you. That way, you can receive unbiased suggestions and recommendations from your real estate agent that can help you make informed home selling decisions.
3. Understand That Problems May Arise During Home Selling Process
Although a real estate agent will do everything possible to promote your house to the right groups of property buyers, it is vital to remember that the real estate market offers no guarantees. In addition, problems sometimes may arise that may slow down the home selling journey.
Your real estate agent should be able to describe challenges that you may encounter before you add your residence to the housing market. This will enable you to plan ahead and allocate the necessary time and resources to reduce the risk of such problems.
Hiring a real estate agent to help you sell your house may seem difficult at first. But with the aforementioned tips, you can find an expert real estate professional who will make it easy for you to sell your residence.