The Price Is Right: Secrets to Selling Your Home Quickly

So you’re moving on. Even though you’ve decided to sell, putting a price on years of happy times in your current home can be difficult.

However, your first job as a new seller will be to set a sales price that’s just right.

If you price your home too high, it may languish on the market for months.

If you price it too low, you won’t get a fair return on your investment.

Your real estate agent will do a comparative market analysis of houses that have sold recently in your neighbourhood. This will establish your house’s true market value.

Statistics show that a home priced within 5% of its actual value is more likely to sell within 30 days than is the same home that is overpriced by 10%.

For you, timing may be important. Are you a motivated seller who has already purchased and can’t afford to carry two mortgages? Is it a buyer’s market, where homes sell quickly? Or is it a seller’s market with lots of neighbourhood competition? All these affect pricing.

So do major renovations. Your real estate agent will know the value buyers will place on your renovations and be able to factor that into the price.

Is yours a class A house on a class C street? You may have to factor that into your price as well.

No matter how perfect the house, location is a priority for most buyers.

The bottom line, then, is to listen to the professionals and price the house to sell.

Offer Rejected? Here’s What You Should Do

The home buying process can be stressful, particularly for first-time buyers.

But even seasoned buyers can be disappointed when their first offer is rejected.

Luckily, in real estate, “no” doesn”t usually mean “no.” It simply means ‘let’s talk.”

And it’s here that you can be glad you have a qualified real estate agent in your corner, because at that point it’s all about negotiation.

A rejected offer is not uncommon.

As your real estate agent will explain, it sets the stage for what can be a long process.

Just as you and your agent worked hard on a first offer that was fair but less than your bottom line, you’ll both have to work hard now on a compromise.

In the case of multiple bids, your real estate agent might recommend you cut to the chase and submit your bottom-line offer.

Your real estate agent will likely point out to the seller’s agent that this is your best offer.

Take it or leave it.

You run the risk of losing, but if you’re a first-time buyer, you may not have the resources for a bidding war.

In most offers there are other items that can be the basis of trade-offs.

These include closing dates, closing costs, inclusions and needed repairs.

No matter how much you want the high-end stove and refrigerator, don’t tie your real estate agent’s hands by insisting that those appliances be included.

You may lose your dream home for a few thousand dollars.

And don’t let emotion get in the way. That’s why you have someone to negotiate for you. When you hire a licensed real estate agent, you can be sure that he or she is highly trained and has years of experience in negotiations.

You’re in good hands, so relax and let go.