Jay Falone's Blog
If you encounter home selling challenges, there is no need to worry. In fact, if you know how to approach potential house selling hurdles, you may be better equipped than others to enjoy a seamless property selling experience.
Now, let's take a look at three tips to help you hone your approach to home selling challenges.
1. Remain Calm
A home selling challenge may seem like the end of the world. But it is important to remember that home sellers like yourself likely have faced similar problems in the past. And as such, there is probably a viable solution to address any home selling challenge, at any time.
When a home selling challenge presents itself, it often helps to take a deep breath. Then, you should try to remain calm, cool and collected and approach the challenge from an objective point of view. By doing so, you may be able to find a way to resolve this challenge in no time at all.
2. Be Persistent
Let's face it – no one said selling a house would be easy. But for those who are persistent, even the toughest home selling challenges can be overcome.
If you approach a home selling challenge with persistence, you'll be ready to explore every potential solution to address this issue. As a result, you may be able to quickly identify the right solutions to various home selling challenges and move one step closer to achieving your property selling goals.
3. Consult with a Real Estate Agent
For those who face a home selling challenge, it generally is a good idea to seek out expert guidance. Fortunately, real estate agents are available in cities and towns nationwide, and these housing market professionals are happy to help you address any home selling challenges head-on.
Typically, a real estate agent offers plenty of support throughout the property selling journey. He or she first will learn about your home selling goals and provide a personalized home selling strategy. Next, a real estate agent will promote your residence to the right groups of prospective buyers. And if you receive an offer to purchase your home, a real estate agent will help you analyze this proposal and decide whether to accept, reject or counter it.
A real estate agent is prepared to respond to any concerns or questions that you may have during the home selling process too. If you are unsure about how to price your home, for example, a real estate agent can offer housing market data to help you establish a competitive initial asking price. Or, if you face a time crunch to sell your residence, a real estate agent will do everything possible to help you sell your house as quickly as possible.
There is no reason to let home selling challenges get the best of you after you list your residence. Thanks to the aforementioned tips, however, you can boost your home selling confidence and determine the best course of action to resolve any house selling challenges.
Selling a house may prove to be difficult, particularly for those who are competing against dozens of rival sellers in the same city or town. Fortunately, there are lots of things that you can do to gain a competitive advantage over rivals in a fierce housing market.
Now, let's take a look at three tips to help you get a leg up on the home selling competition.
1. Focus on Curb Appeal
How your residence looks to buyers can have far-flung effects on the house selling journey. Thus, if you allocate time and resources to upgrade your house's curb appeal, you can differentiate your home from all others in your area. And as a result, you could speed up the home selling cycle.
To enhance your home's curb appeal, eliminate clutter and debris in front of your residence. Also, if there is any damaged home siding, you should fix this problem.
If you are unsure about how to improve your home's curb appeal on your own, you can always hire professionals to help you out, too. These professionals will take the guesswork out of home exterior improvements and allow you to upgrade your residence's curb appeal without delay.
2. Set an Aggressive Initial Asking Price
If you price your home too high, you risk alienating prospective buyers. Or, if you price your house too low, you risk missing out on the chance to optimize your home sale earnings.
Ultimately, it is beneficial to establish an aggressive initial home asking price. If you learn about the local housing market, you can compare your residence to available houses in your city or town. Then, you can use this housing market data to help you establish a competitive initial asking price for your home.
You may want to conduct a home appraisal as well. That way, you can receive a property valuation that you can use to help you set an aggressive initial home asking price.
3. Collaborate with a Real Estate Agent
Navigating a fierce housing market often is challenging for first-time and experienced house sellers alike. Lucky for you, real estate agents are available who can help you simplify the house selling journey.
By hiring a real estate agent, you can collaborate with a home selling expert. Typically, a real estate agent will work with you to create a custom home selling strategy. And when you are prepared to sell your home, a real estate agent will ensure that you can put this plan into effect and achieve the best-possible results.
Furthermore, a real estate agent will help you review any offers to purchase your house. He or she is happy to provide honest, unbiased home selling recommendations. By doing so, a real estate agent will help you immediately sell your residence and get the best price for your home.
Ready to sell your house? Take advantage of the aforementioned tips, and you can quickly and effortlessly sell your home in a competitive real estate market.
Sellers who are eager to attract serious buyers and maximize the value of their home often utilize home staging as a way to leave a good impression.
Homes that are skillfully staged look better in photos online, creating more leads, showings, and ultimately, offers. Furthermore, prospective buyers want to be able to envision themselves living in a home. Staging makes it easier for them to understand what it would look like and how spacious it will feel once it has been furnished.
Home staging by the numbers
You don’t, however, have to take my word for it. The National Association of Realtors (NAR) releases an annual report which collects and analyzes survey data from nearly 2,000 agents regarding their experience with home staging.
In their findings, they note that 62 percent of agents agree that staging a home lessens the time the property is for sale. Furthermore, 77 percent of agents said home staging makes it easier to visualize living in a home that would otherwise be empty.
Which rooms should be staged?
Staging an entire home takes an enormous amount of time and money. One way to simplify the process is to stage a select few rooms. In the NAR’s study, they asked agents which rooms they typically staged when selling a home. The results:
83% Living Room
69% Master Bedroom
66% Dining Room
31% Yard Space
25% Children’s Bedroom
21% Guest Bedroom
From these results, we can ascertain that it’s important to stage the main rooms of your home. Lesser used a multi-purpose rooms (like offices and guest rooms) aren’t as important to stage.
Can staging your home increase the sale price?
It’s difficult to say with certainty if, and by how much, home staging affects the sale price of a home. However, if staging your home is successful at getting the attention at a greater number of prospective buyers, there’s a good chance you’ll be able to go with the highest bidder.
When the NAR asked agents if staging increases the amount buyer’s offer on a home, their responses were somewhat mixed.
29% of respondents thought it increases the offer by one to five percent
21% of respondents say it increases the offer by six to ten percent
8% said it increases the offer from between eleven to twenty percent
14% said it had no impact on the dollar value of the home
27% were unsure if it had an impact on the dollar value
In general, it would seem that most agents feel that staging a home not only improves a buyer’s opinion of a home, but also increases its sale value. If you’re planning on selling in the near future, staging at least part of your home could be something to consider to give your property a competitive edge.
Those men and women from the millennial generation are now the largest segment of first-time home buyers. A full 66 percent of people who are purchasing their first home fall into this age group. Not only that, but millennials also comprise more than one-third -- 34 percent -- of the overall home buying market. It's crucial that you learn how to appeal to them.
1. Opt for an Open Floor Plan
Today's millennials love to entertain and have guests in their homes. In order to accommodate their desire to offer people the best chance to mingle and get to see everyone, they prefer an open floor plan to separate spaces. This is especially true when it comes to the kitchen, living and dining areas.
2. Updated Bathrooms and Kitchens
Millennials prefer that the home they purchase has already been updated instead of them having to do it themselves. In many cases, this generation will have to use nearly all of their savings in order to put the down payment on their new home. This will leave them with little money to make any updates or improvements.
3. Low Maintenance
While opting for low-maintenance features has always been a driving force for many home buyers, there is no generation that has embraced this concept more enthusiastically than millennials. Instead of spending their free time doing chores and home maintenance jobs, millennials would rather be entertaining or exploring their neighborhood's amenities.
4. Add Home Office Space
Remote work isn't just the trend of the future. It's the way many millennials advance their careers these days. Carving out a dedicated space means that these young home buyers can simply move it and set up their work station without any lag time.
5. Invest in Home Technology
Not surprisingly, millennials tend to be very comfortable with technology. Not only that, but they expect to connect with technology at every juncture in their lives. Opting for smart home features can help them save money, keep tabs on their investment and enjoy access to Wi-Fi throughout the home.
6. Aim for Energy Efficiency
Millennials want to save money while also protecting the environment. Solar panels and smart thermostats are just two ways to help them do that.
Many of the above tips will also make your home more attractive to nearly everyone who is in the market for a new home. However, they'll hold particular appeal for those who are millennials.
If you're ready to sell your home, you may wonder if the time is right. Timing is truly everything when you’re selling a home. If you have some flexibility, it might be a good idea to wait to sell your home. Even with time constraints, there are a few strategies to employ that can help you find the sweet spot in your time frame.
The Month Matters
It’s widely accepted in the real estate community that the best time to sell a home is in the spring. Since people want to get moved in over the summertime, May could be the best month of the year to put your home on the market.
Springtime offers favorable weather conditions in most places. The good weather means that it’s easy for buyers to get to open houses. Homes will also look more attractive with green grass and flowers blooming. Parents also want to get their kids settled into a new home and new neighborhood over the summer months before they start a new school.
The favorable conditions along with the urgency of springtime buyers translate into more competition which equates to a better price tag for your home because buyers are willing to pay more due to the anxiety of wanting to find a place.
The Day Of The Week Matters
Most buyers start looking for homes when they have free time which is generally on the weekend. That means the end of the week- preferably a Thursday- is a good day to pick to list your home. Homes that were listed earlier in the week will be farther down on the search page. Buyers will be more likely to see your listing first the later in the week that it’s listed.
Consider Your Needs
While timing is a good marketing strategy to sell your home, you need to go by your own timeline. If you need to move due to a job change or other life circumstances, you can’t wait to sell. There are pros to selling during many different times of the year; it just may not be as busy or competitive on the buyer’s side of things. Selling your home fast might not be a sure thing. No matter what time of year you decide to sell your home, just make sure it’s inviting to buyers.