The rebound in the housing market has put homeowners in a better position to sell their homes for a profit. But despite the much-vaunted rebound, selling a house is still a very challenging business. The tight market supply favors the sellers, but to maximize profits, sellers still have to make a number of critical decisions about the home sale.
The following tips can help you sell your house for the best possible price:
Study the market
Most homeowners who want to sell their house enlist the services of estate agents to market the house and perform tasks such as reaching out to networks of buyers’ agents, preparing the house for staging, and negotiating with the prospective buyers. This does not mean, however, that you will rely solely on your estate agent for every decision related to the sale of your house. You should also be knowledgeable about the market so you can weigh in on important decisions.
Set a deadline
You can sell your house faster and at its highest value by setting a deadline for bids, being flexible with scheduling home viewings, and pricing it competitively.
Pressing your estate agent to list your house higher than the price of comparable houses will be a waste of time because you will likely just end up lowering it anyway. Also, if your house stays on the market longer due to its inflated price, buyers may think something is wrong with your house and dismiss it. Carefully consider your agent’s input when pricing your home.
Stick with local agents
An estate agent who is an expert in your neighbourhood may be a better choice than an agent who has sold many houses but is unfamiliar with your area. When you look for an agent, review the pricing of the homes they have recently represented.
Weigh commission options
Most listing agents charge fees of 5 or 6 percent of the sale price of the house. You can negotiate for a lower commission, but the risk is that your agent may not prioritize the sale of your house. Better yet, online estate agents like eMoov will sell your home for a fixed fee.