How to Sell Your Own House (In Any Market)
It is not easy to sell your own house, particularly in a fluctuating market. But with the correct approach and strategy, you can successfully navigate the home-selling process and even boost your profit. In this article, we will walk you through the steps and strategies to effectively sell your house, regardless of the market conditions.
Understanding the Real Estate Market
Before you set out to sell your house, it’s critically important to have a solid understanding of the current real estate market in your area. Remember, market conditions can have a major impact on your selling strategy.
1. Market Research
First, conduct thorough market research to understand the state of the real estate market in your area. Some questions to consider: Are prices trending up or down? What’s the average time properties stay on the market? By finding the answers to these questions you will be able to set realistic expectations.
2. Pricing Your Property
It’s very important to price your house correctly. To accomplish this, use online tools, consult with real estate agents and pay attention to recent sales in your neighborhood to determine the right price for your property.
3. Preparing Your Home for Sale
A well-presented home attracts more buyers. Here's how to prepare your house for a successful sale.
Staging your home is a great way to show off its potential to possible buyers. Make sure to declutter, depersonalize, and arrange furniture to make your home look appealing.
Repairs and Maintenance
Make necessary repairs and upgrades prior to listing your property. This will increase its value and minimize the likelihood of having to negotiate during the selling process.
4. Marketing Your Property
Now that your house is in prime condition, it's time to market it effectively.
Seriously consider investing in a professional photographer to capture your home’s best features. High-quality photos are essential for online listings and other marketing materials.
Leverage online listing real estate websites and social media platforms. Be sure to include detailed descriptions of your property and the best photos.
5. Negotiating and Closing the Deal
Odds are, you will have to navigate the negotiating process and finalization of the sale.
Review each offer carefully and be prepared to negotiate the price, terms, and contingencies. Remember: Your goal is to craft a mutually beneficial agreement.
Closing the Sale
Work with a trusted title company or attorney to ensure a smooth closing process. You will have to sign several documents, including transfer of ownership.
6. Work with Investors
If all of this sounds daunting, the easiest and fastest way to sell your house is by selling to a real estate investor. Investors buy houses in “as is” condition, so you won’t have to invest a penny into your property. You won’t have to conduct home showings and what’s more, they will help you with paperwork. Because investors don’t need third-party lenders, they can close on your house quickly and you don’t have to worry about them backing out at the last minute.