If you’re preparing to sell your home without the help of an agent, there are 3 tips you should follow. Prepare your home by cleaning it thoroughly and making visible repairs. Remove any personal items and clutter that will make it feel unwelcoming to potential buyers. The more professional your home looks, the higher your chances of securing a successful sale. Likewise, you should remove any personal belongings that might create an invasion of privacy.
Setting a realistic price
Pricing your home is a delicate balancing act. Several factors, including location, time of year, cyclical trends, and the condition of your home, affect how much your property is worth. Pricing your home too high or too low may cause it to languish on the market, resulting in a bid war. A lower price will attract attention and may even spark a bidding war.
Comparative market analysis to help potential sellers set the list price
Performing a comparative market analysis (CMA) on a home is a useful way to get an idea of how comparable houses are priced. Comparative market analyses help prospective sellers set the list price for their home in light of similar homes that are sold in the same area. They can also help nurture leads and increase your listings. If you haven’t completed a CMA before, you can start today.
To conduct a CMA, you need to first gather five or seven comparable homes in the area to compare with your property. From these, you can use simple equations to determine the average price per square foot. However, you must keep in mind that if there are fewer comparable properties, you may have difficulty determining the list price. You also need to account for new developments and if there is no recent data on recent sales.
Reaching out to potential buyers (or their agents) to ask their opinion about the home
You can begin your outreach efforts by asking buyers and their agents what they think about the home. This is particularly effective if you ask them why they like or dislike certain aspects. You may find out that kitchen skylights are the most popular feature in a house, and you can ask the buyer if they’d like to see that in your home. But make sure not to get combative or make it appear that you don’t want to hear their feedback.
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