Realtors agree that 2022 is a great time to sell a house in the face of a looming interest rate hike that could put a damper on the market.
If you decide to sell your home, you need a plan to help you avoid the inevitable fallout from rate increases combined with high real estate prices.
Here’s how to put it all together.
Table of Contents
Manage Your Expectations
Most people place finding a realtor at the top of their list when it comes to orchestrating a home sale. These experts have all the resources necessary and know how to sell your home for a fair price in this competitive market.
Don’t let your emotions sway you when valuing your home. If your asking price is too high, you’ll take longer to sell your home and open yourself to endless haggling over costs.
A realtor can help you avoid this pitfall.
They’ll ensure your home’s advertised in all the right places and call on their peers to help you find a buyer. These skills also come in handy when negotiating prices, arranging home inspections, and dealing with the paperwork involved in a home sale.
However, selling your home this way is a drawn-out process, and you’ll need to pay them a commission for their services, too.
Remember to include the time delays and expenses associated with working with a realtor while you’re working on a plan to sell your home fast.
You can expect a wait of almost a month before you find a buyer in today’s market, and then you’ll need to wait a few more months for the sale to close.
If you’re in a hurry to get rid of your property, selling your home without a realtor might be a better option for you. If you decide to go this route, read these tips for home selling and take them into account during the planning phase.
Prepare To Repair When You Sell Your Home
No doubt, there are a few things in your home that could do with some work. If they’re major issues, you might need to attend to them before you list your home for sale.
A home inspection will reveal any big projects that you must complete if you want to advertise your home for the best possible price. A realtor or some online research can reveal any top-selling home improvement trends that could help sell your house faster, too.
These repairs will come at a price and can leave a major dent in the profits you receive from your sale.
Get time and value estimates from local contractors, and take these into account when working out your timeline.
Another budget item to consider is the prospect of staging your house for an open day or creating a virtual tour. This is likely to involve sprucing up your interiors and even hiring a deep cleaning service to ensure your home’s at its best on show day.
It’s also a good idea to go through your home at least a month before and declutter the interiors and any storage areas. Figure out what you can do without during the selling phase and hire a container to store it all out of sight.
Less clutter makes it easy to create a good impression when staging your home for sale or recording a virtual walkthrough.
Once you’ve got all these time and money aspects to hand, create a to-do list of all the tasks involved. Based on this, you can set a realistic timeline for selling your home.
If you don’t want to spend money on repairs, there is an option to sell your home to an as-is buyer. This cuts out all the time involved in repairing your home first.
Figure Out a Marketing Plan
There’s more to marketing a home for sale than listing it on a bunch of real estate websites. For the best effect, you need a marketing method that fits in with the digital day and age.
These tactics place your home in front of prospective buyers without them having to search for it. Some of the best marketing tips for selling your home include using daily paid advertising campaigns, targeted social media ads, and email marketing.
Word of mouth is still an excellent way to advertise your home for sale, except now you have the power of social media to help you reach even more people. If you’re not technically inclined, you can still spread the word among family and friends.
A surprisingly large percentage of homes end up with a new owner in the seller’s social circle.
Assemble a Team
It’s impossible to do all the above on your own. So remember to include a list of professionals who’ll assist you with your efforts during the planning stage.
Find out if your real estate agent will handle all these aspects and what you can do to speed the process along. It’s not enough nowadays to hand over your home selling efforts to a realtor.
For best results, you’ll need to get involved with a little marketing of your own.
Marketing aside, remember you’re likely to need a lawyer’s assistance at some stage, too. So, find out when you can expect to add this expense to your plan, too.
A Way Forward
When you use these tips on how to sell your own home, you could still wait a couple of months before you achieve the sale.
Yet, with a plan in place to sell your home, it’s easier to figure out your way forward or explore alternatives if things don’t run according to schedule.
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