Are you ready to move? Do you need to relocate? Maybe you house is not the right size anymore, if you have recently had kids you might have realized you need a bigger home or if the kids just moved out you may need less home.
There are many reasons people move, these are just a few of them. If you are thinking about selling your home then I want to help you save some money!
I want to give you three tips to help you save thousands of dollars when you sell your home.
- Don’t Wait
NOW is the perfect time to sell your home! If you are thinking about selling your home, don’t wait!
The market right now is perfect to sell your home. Prices are higher than any time during the last ten years. If you put your home on the market right now you could get a higher sale price than any time in the recent past.
You know what they say, “What goes up must come down”.
I do think the market will go down a little this year. It may not go down until after the initial Spring time market rush but by the end of the year I see home sale prices not only stop climbing but I also see then very slightly come back down.
The main reason for this, in my opinion, is the by the end of this year I see the market slowing down just like it did in the end of 2018. As a result of houses sitting on the market longer the prices will then be reduced.
If you are interested in selling your home this year, I would suggest getting it on the market as early as you can!
- Interview Your Realtor
When you are ready to put you house on the market, I wouldn’t suggest just calling the first Realtor you see and hiring them to sell your house. Even if you know the Realtor or they are your relative, you still need to ask some question first.
Use this questionnaire to help you fully understand everything involved in hiring a Realtor to sell your home.
You will notice on the questionnaire that there is a question about extra fees other then commission. Did you know that almost all real estate companies charge one or more fees other than the commission?
These fees have all kinds of names; Document Fee, Document Service Fee, Document Storage Fee, Administrative Fee, Broker Professional Fee, Management Fee, Brokerage Services.
These fees range from $200 to $500 each.
You should NEVER pay any of these fees!
The only thing you should be paying any Realtors or Brokers is the agreed upon Commission. Nothing else!
You are paying them good money in the form of commission to sell your home. Those “Hidden Fees” are just a way for that company to take a little off the top.
There are a few companies left that do not charge this fee. These will usually be the smaller family owned Real Estate Companies.
My company Nova Star Real Estate has never charged any “Hidden Fee” or “Administrative Fee” or any other type of “Fee”. Our Sellers only pay us the agreed upon commission and our Buyers never pay us anything!
That’s right these corporation brokerages even charge their buyer clients fees even though they are already getting paid thousands of dollars by the seller.
This is just one reason why you should interview your Realtor. Once you read through the Realtor Interview Questionnaire you will see there are other benefits to asking these questions.
- Price It Right
The initial list price of your home is a huge deal! Most people think I will just set it high and I can come down if I need to. This is the worst thing you can do when selling your home.
Why is setting the price high a bad idea?
The initial list price will be the biggest determining factor on how many showing you get when the house is listed. If you price too high you will not get any showings or maybe just one or two. You will not be able to put your self in a place a pick the best offer out of five or six offers in a multiple offer situation.
You may not get any offer at all or you might get one that you don’t want to take (for reasons like they are asking you to pay for closing costs or many other reasons).
Now you home will sit on the market with little or no activity. You will be left with no other option but to lower the price.
Now you have two problems, your price is not only lower now, but you also have lost many precious days on the market. The more days on the market for your house the lower the offers will be that you will see.
If you start to get over thirty days on the market you will most likely never see a multiple offer situation that drives the price up for you and you will also see low ball offers.
The alternative to over pricing your home is under pricing it.
You may be thinking, well I will just under price it and get a multiple offer situation. This doesn’t usually end well for the seller.
This will put your home in a different bracket of buyers, and you may not even see full price offers or you will see most buyers are asking for closing costs and repairs to be made.
All these things add up. Price your home right and save thousands of dollars.
Another suggestion I have is to check out my Seller section and click the Seller Net Proceeds PDF. This will allow you to add up and estimate your costs to sell your home and how much profit you can make.
Also check out “How to Get Your Home Ready to Sell”.
If you are interested in selling you home contact me on here or send me an email and I will be more then happy to discuss other money savings ideas when selling your house.
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