When it comes to knowledge and experience there are countless things that we wish we could share with others. Helping people make more informed decisions, avoiding unnecessary trouble, and propelling them for a more successful outcome is at the root of this desire to share. One of the most fulfilling, exciting, and often stressful and emotional times of someone’s life happens when they buy or sell a home. This single transaction requires so many moving parts and variables that it can make you as anxious as it does proud. However along the way there will be things that you learn, and things that you wish you had known about at the time that they happen. This is where a REALTOR® steps in. And when a REALTOR® steps so does all of their experience and expertise. Here are four things REALTORS® want their clients to know.
1.) When selling, give your home a compelling price. Sellers are usually, and often rightfully so, optimistic about the value of their home. However, buyers are not. The longer a home sits on the market, the less likely the seller is to get a fair value. Offering a price that compels buyers to consider your home over a comparable home at a higher price can actually end up saving you money in the long run. It is important to remember the market determines the price and REALTORS® are the best source to provide a market analysis.
2.) Allow for time when selling. While we’ve addressed price, there are other time factors to consider and recognize. The process of selling a home successfully can be a stressful, time-consuming activity. Understanding what’s involved and the time expectation can make this an easier transition. Allowing 4-6 months from the time you decide to sell is a comfortable time frame. This accounts for preparing your home to list (maintenance, updates, repairs, etc.), the average time a home spends on the market (2 – 3 months), buyer negotiations, and closing. Having this timeframe in mind will help ensure you end up at the closing table with a fair offer.
3.) A pre-approval letter is not a guarantee. While a pre-approval letter for your mortgage gives you a lot of leverage, it does not necessarily guarantee the purchase of your dream home. Just like scoring first in a football game doesn’t ensure victory; the way you finish the process will determine your ability to buy. Do not attempt to acquire any new loans or use any credit cards until after you’ve closed on your home. Any changes in your credit score or debt-to-income ratios can severely alter your mortgage, to the point of being declined.
4.) Prepare your home for any potential showing. You only get one first impression, so you need to make it a good one. Following a checklist that provides a welcoming, nice environment for potential buyers will only help to ensure that they get the best impression of the property. A clean, nice smelling, well lit house set to a comfortable temperature can make all of the difference in the world. Get the most out of your showings by enticing the buyer and providing a great first impression.
While these are only a few of the many things that REALTORS® want their clients to know, they are important ones. They can also help to avoid any delays, headaches, and problems for both buyers and sellers. If you are in the market to buy a home, or sell yours, your first step should be to entrust your process to the expertise and experience of a REALTOR®.