When a big decision is on the horizon, we often feel so overwhelmed that we tend to delay making it. While selling your home or deciding to rent it to people is indeed a big decision, there are a few questions that you can ask yourself and your rental agent to make the process a little less daunting.
1. What is my home worth?
This is often the first concern when people want to sell their house, and for good reason. It is important to know the value of your property before putting it on the market, as you will need to know this before looking into buying another property, or using the money for any other intended purpose.
Real estate agents take a few things into consideration when estimating the value of a property, among these the size of the house, the suburb it is located in and a host of other factors. While you might have a number in mind, take care not to compare the value of your home to the most expensive sale in your suburb.
Home owners often tend to overlook the flaws that potential buyers notice when they view the property, which is why the value of a qualified and experienced real estate agent is immeasurable. Real estate agents will do a comparative market analysis of your home and others in the suburb, and suggest a price accordingly.
Remember, pricing your home requires balance and a realistic outlook. If the price is too high, your property might linger on the market for a long time, whilst pricing it a bit lower might pique the interest of a number of potential buyers, giving you a chance to play the bids and get the price you want.
2. When is the best time to sell my home?
The real estate market is organic and constantly changing, which means that there isn’t a definite answer to this question. A seasoned real estate agent will be able to tell you what is happening in the real estate market at any given time and share the market indicators for specific areas with you.
Real estate agents can also tell you what the average days on market for a suburb is during a specific time of year, which will help to make deciding when to sell a little easier.
3. How can I prepare my home before putting it on the market?
Preparing your home before listing it is a cardinal factor in attracting as many potential buyers as possible, and will also determine how quickly it will sell. Again, real estate agents will advise you on eyesores that might have an influence on the first impression your house has on potential buyers. Applying a coat of fresh paint to the walls, replacing old and tattered carpeting or flooring, getting rid of unpleasant odours, repairing anything broken or damaged – all these things have a hand in creating a good first impression with potential buyers.
4. Should I be present during a showing of my home?
Many real estate agents prefer that the owner of the house is not present during showings. This is simply because the owner has an emotional and sentimental attachment to the property, and potential buyers know this. They might refrain from asking questions that might sway the sale your way because they don’t want to offend you. Let your real estate agent handle showings, they know what to say and how to answer uncomfortable questions.
5. What needs to be disclosed to potential buyers?
If you’d like to avoid potential issues and even lawsuits, honesty is the best policy when it comes to any defects concerning your property. The ideal is to have repairs done before you list your home, but if you prefer selling as is, you’ll need to tell it like it is.
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