By: Realtor.com
Millions of existing homes are sold each year and, while each transaction is different, every owner wants the same thing: the best possible deal with the least amount of hassle and aggravation.
Home
selling has become more complex than it used to be. New seller disclosure
statements, longer and more mysterious form agreements, and a range of
environmental concerns have all emerged in the past decade.
More
importantly, the home selling process has changed. Buyer brokerage, the process
in which REALTORS® represent home buyers, is now common nationwide and good
buyer-brokers want the best for their clients.
The
result is that, while hundreds of thousands of existing homes may be sold each
week, the process is not as easy for sellers as it was five or 10 years ago.
Surviving in today’s real estate world requires experience and training in such
fields as real estate marketing, financing, negotiating and closing, the very
expertise available from local REALTORS®.
Are You Ready?
The
home-selling process typically starts several months before a property is made
available for sale. It’s necessary to look at a home through the eyes of a
prospective buyer and determine what needs to be cleaned,
painted, repaired and tossed out.
Ask
yourself: If you were buying this home, what would you want to see? The goal is
to show a home that looks good, maximizes space and attracts as many buyers as possible.
While
part of the “getting ready” phase relates to repairs, painting and other home
improvements, it is also a good time to ask why you really want to sell. Selling
a home is an important matter and you should have a good reason to sell,
perhaps a job change to a new community or the need for more space. Your reason
for selling can impact the negotiating process, so it’s important to discuss
your needs and wants in private with the REALTOR® who lists your home.
When Should You Sell?
The
marketplace in Florida tends to be active in Season (January - March) when
seasonal renters are evaluating a potential purchase. Spring ( April- June) because
parents want to enroll children in classes at the beginning of the school year
(usually in August) and the Fall when potential Snowbirds are again thinking
about how and where they will spend Season.
Generally
speaking, markets tend to have some balance between buyers and sellers
year-round. For example, a given community may have fewer buyers in late
December, but it’s also likely to have fewer homes available for purchase. As a
result, home prices tend to rise or fall due to general patterns of supply and
demand, rather than the time of year.
Owners
are encouraged to sell when the property is ready for sale, there is a need or
desire to sell, and the services of a local REALTOR® have been retained.
How Do You Improve Your
Home’s Value?
The
general rule in real estate is that buyers seek the least expensive home in the
best neighborhood they can afford. This means you want to put on the market a
home that fits with the neighborhood but is not over-improved. For example, if
most homes in your neighborhood have three bedrooms, two baths and 2,500 square
feet of finished space, a property with five bedrooms, more baths and far more
space would likely be priced much higher and would be more difficult to sell.
Improvements
should be made so that the property shows well, reflects community preferences
and does not involve capital investments, the cost of which cannot be recovered
from the sale.
Cosmetic
improvements, paint, wallpaper, landscaping, etc., help a home show better and
often are good investments. Mechanical repairs that ensure all systems and
appliances are in good working condition are required to get a top price.
Ideally,
you want to be sure your property is competitive with other
homes available
in the community. REALTORS®, who see numerous homes, can provide suggestions
that are consistent with your marketplace.
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