Making the decision to sell your home is a huge deal.
There is a lot of work that goes into putting your house on the market.
It is vital that you sell it for the best possible price.
After all, the more money you get from the sale, the better it is for buying a new home.
Sometimes, it can also put extra cash into your pocket.
Change in house prices over the years
The United States housing bubble was very problematic for those selling their homes.
Right up until the start of 2006, housing prices were rising at a rather drastic pace.
Then the recession happened. Prices shot down.
In 2012, the price of a home reached new lows.
Yes, housing prices have recovered a little bit since then.
Not quite to the highs that they were before (once you factor in inflation) but they have recovered.
This graph looks at the prices of homes sold up until 2010.
As you can see, there is quite a significant dip.
As mentioned previously, things are recovering well.
Utilize the internet to sell your home
Over 90% of people are using the internet to search for homes.
This means that if your home can’t be found online, then you are completely removing the chance of being able to obtain the best possible price.
Take a little look at this chart to see how internet usage has changed the real estate market:
Most realtors will list your home on their website.
It is, of course, good.
However, there are a few things that you can do on your own.
This may include:
- Sharing the house on Facebook and other social media. You will be surprised at how quickly it gets shared around.
- Make a YouTube video.
- Design your own website (ridiculously cheap!)
Just try to make your house as appealing as possible!
Use a good real estate agent
There are a lot of real estate agents out there.
Some of these real estate agents are brilliant, others not quite so much.
It is important that you choose a real estate agent who has a proven amount of success in home selling.
Commission needs to be negotiated
The majority of realtors will charge 6% for their services.
However, this is not going to be a fixed rate.
In fact, for many realtors, it is highly negotiable.
For example, if you are in an area where houses sell ridiculously well, why should a realtor get a ton of cash for such a little work?
Now, the realtor may not always accept a deal, particularly if you have a property which is going to be pretty tough for them to shift.
However, it is always worth asking. After all, even a small percentage could represent a huge amount of cash for you.
Talk to your real estate agent
Always talk to your real estate agent.
You have to know when they are going to be around.
You have to know which jobs are you meant to perform.
Choose the right buyer
Always try to opt for buyers that are pre-approved to make a purchase.
This means that they have undergone credit checks and the like.
The Daily Mail reports that one in four of sales will ‘fall through.’
This means one in four potential buyers may not be able to complete the sale.
This is going to be a complete waste of time.
Choose your buyers wisely (i.e. those who have already demonstrated that they have the cash ready to go) and you should be okay, even if you lose a couple of thousand dollars on the deal.
How close can you get to the asking price?
If you put these tips into practice, then you may get fairly close to the asking price.
This graph shows house prices in the UK in comparison to their asking price, but the stats will be very similar in the United States:
It is not all that difficult to get the best possible price for your home.
It will all begin (and ultimately rest on) the selection of the perfect real estate agent.