1. Be conservative about how much you need to sell your home for. Overall, the market is tight, a buyer’s market. “Testing the market” does not work in this environment. Know your range and get aggressive. Price sells homes these days!
2. Be the best looking house on the block. Listen to your Agent, they see hundreds of homes. Yours has to stand out. Your Agent should be able to tell what makes you special, so, please trust your Agent.
3. Be aware of your “outliers”. Outliers are locations, HOA costs, and other intangibles that effect the value of your home. Make price adjustments accordingly.
4. Know your buyer pool. Where are they coming from? What companies are nearby that will be moving people in and out of town? What appeals to most people looking in your particular area. Your neighborhood may cater to the outdoors types, it might not. If you don’t already know what people like about your area, find that out. You most likely already know this part…
5. Learn whether other sellers are negotiating within your range. You need to know how much you may need to flex on price in the event you receive a low offer. Knowing what other sellers are doing will give you insight into what the buyers may be expecting in the way of a counter proposal.
6. Identify the competition. Depending on your price range, the uniqueness of the property you have for and the absorption rates for those listings, you may face some serious competition for the buyer’s attention. Get proactive to this from the start and you will win in the end.
7. Get ready for the inspection, talk to your agent about what are typical items that are showing up in the inspections requests these days. Nipping these items in the bud will surely help ease the blow.
8. Work with an experienced agent! Like me! Jeff Hansen of RE/MAX Professionals.
Investing in the real estate market has risks and is not for everyone. I am, by no means, suggesting this is for you. I am a trained professional, I do this for a living. If you would like more information regarding real estate investment, just let me know. You can also consult your accountant, attorney, Priest, Pastor, or Rabbi about the risks involved in investing. I am, however, available to answer your real estate related questions.