So you want to sell your home. One of the first items to do now is to choose whether you should hire a professional real estate agent to help you sell your home, or should you attempt to do it yourself. As in anything in life you need to learn the pros and cons of each method and decide which one will work greatest for you. Contrary to what most real estate professionals will inform you, there is no single answer that will be best for everybody.
But before you name your price you must do some study first. You will need to research and get an in-depth knowledge of your neighborhood real estate market. And by local, I don’t mean your state, or city, or even the usual area where your home is found. Local here means the immediate area around your home. This is the area that you could cover walking if you wanted to.
Where is your home located? Homes closer to major streets are easier to promote and sell. More people will move in front of the home and see the For Sale sign in the yard. More secluded homes don’t get the same level of exposure from the yard sign. How much time do you have to devote to selling your home? If you work full-time and has very little time to commit to marketing your home, you may be better off hiring someone to do that on your behalf. In the other hand, if you do have the time and inclination, you can do a lot of the marketing yourself.
From a marketing perspective, the best thing that could happen to you is to have an overpriced house just down the street from yours. Buyers will compare that house to yours and feel that your house is a great deal. How many similar houses are accessible for sale in your neighborhood and what are their asking prices. If all the similar houses in your area are being offered below $350k, it would be difficult to sell your home for $400k.
Buyers will feel confident they are receiving a great deal if they choose to make a proposal on your home. And as a side benefit, because they believe they are gaining a great deal, they will be less likely to request for seller concessions and discounts when submitting the offer. The bottom line is there are ways to sell and buy property outside of what was once the traditional real estate model. It doesn’t have to be buyer’s agent and seller’s agent holding your hand throughout the process and guiding the purchase or sale of a home.