Selling a home can be kind of a big deal. There are so many bits and pieces that could be overlooked by the novice seller. If you want to sell your home without using an agent, it is highly recommended that you do your due diligence and research the step-by-step process it takes to sell a home.
Selling A Home
When someone purchases a home they do not just see it as a place to live. It is also an investment in their future. By owning something tangible, building equity, paired with the property’s increase in value over the years, the homeowner will have the opportunity to make a profit off the sale when it comes time to sell the home.
There are several steps that go into the sale of a home. The main steps include the listing of the home, showing off the home, and sale of the home. As simple as this sounds, there are several crucial steps that can make or break the success and profitability of the sale.
Do Not Miss This Step In The Home Sale Process
A homeowner may think their home is worth a certain value, however, the homeowner may be way off on the figure. If the homeowner is over-estimating the value of their home, they deter buyers from looking at their home. If the seller undervalues their home, they will be leaving money on the table by not selling the property for its fair share.
Do not miss a step when selling a home and complete a full comparative market analysis to have the home priced correctly.
The competitive market analysis does not just evaluate the home value itself but also factors in external influences that may fluctuate the value of the home. These influences include the location and neighborhood of the home, the recent sale prices of homes in the area, and the current economic state.
Do You Need A Realtor To Do The Competitive Market Analysis?
A realtor has the experience and knowledge to do a thorough competitive market analysis. With many tools at their fingertips, a realtor can properly price out the value of your home to ensure you are getting more than the fair value of the home.
The disadvantage of using a realtor for this service is that having a realtor help to sell your home will increase your expenses by adding the realtor’s 6% commission payout on the value of the home.
Do Your Own Competitive Market Analysis
It is not advised to do your own competitive market analysis because there is so much information and data to sort through. If the information is misinterpreted, an error could be made and you could lowball the value of the home, making less profit.
Instead of trying to do your own competitive market analysis, there are online tools available that will help you do your own competitive market analysis.
Time To List Your Home
Now that you have completed a comparative market analysis of your home, you can list the home with confidence. To make your listing appealing to buyers, use professional pictures of the home’s interior and exterior, highlight any unique or important features of the home that make it stay apart from the rest. Most importantly, price your house accordingly by posting the asking price based on the total value assessed by using the competitive market analysis to guide you.
You will get your fair share yet still attract buyers since your pricing is in line with the market. Happy selling!
I’m a 20-something stay-at-home mother and wife. I have an amazing husband, a beautiful daughter, two loving dogs, and a lazy cat. I wouldn’t change my life for anything! I love to read, listen to music, cook and blog!
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