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Know Why You are Selling
If you know exactly why you are selling then it is easier for you to follow the right plan of action for getting what you want.
If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor.
A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.
It’s always good to know how low you will go, in terms of the selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously and take into consideration the terms of each offer, sometimes, if you know the bottom line and are strict about it, you can save yourself time.
Once you know what your limits and reasons are, discuss them with your agent so that they can help you set your goals realistically. If you decide to list your home on your own, make sure you do research on the current market, and you get the proper advice you need in terms of legal issues, etc. The key is to be realistic and to know what your goals are so they can be met.
Plan of Action
Analyze why you are selling – If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.
Prepare your home for the buyer – Maximize the strengths of your property and fix up its weaknesses. You want the buyer to walk away from your home with a lasting good impression.
Find a good real estate agent that understands your needs – Make sure that your agent is loyal to you, and can negotiate to help you achieve your goals. In addition, they should be assertive and honest with both you and the buyer.
Be prepared for negotiation – Learn and understand your buyer’s situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through.
Negotiate for the best price and the best terms – Learn how to counter an offer to get maximum value from every offer.
Make sure the contract is accurate and complete – Be honest with your disclosures; you do not want to lose the deal because you were lying or diminishing your home’s defects. Insist the buyers get a professional inspection. This will protect both you and the buyer.
Finding the Right Agent
Not all agents work the same way. The most important attribute of an agent is that he/she is well-connected to the real estate industry. He/she should know the market and provide information on his or her marketing plan. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs.
Try to go with a local agent. They can better serve your needs because they should be more familiar with the local market conditions, local prices, and what’s hot or not in your community.
Considering Offers
When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer.
Some terms that may work in your favor:
higher-than-market-interest in a second mortgage for your home
the buyer will pay for most or all of the closing costs
the buyer will take care of any repairs
quick close – the buyer is pre-approved, ready to close in a timeframe that best suits you
all-cash deal
When reading through offers, remember to look at the whole package. Take the time that you need to assess what is being offered and if it meets your needs.
For Sale By Owner – A Good Idea?
FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. The idea behind FSBO is that by selling your home yourself, you save the approximate 6% that would be the agents’ commission.
6% may not sound like a lot, but it can add up, especially on more expensive homes. But before you run off and decide to sell your home FSBO, you must remember that to get savings like that, there must be a cost. So what’s the catch? Selling FSBO is hard. A lot harder.
Only about 10% of sellers that decide to do FSBO are successful at it. And not all of them end up saving themselves money. FSBO sellers often end up accepting a lower price for their home than they would with an agent.
There are of course other issues as well. Can you afford to make selling your home your full time job? Because for a lot of FSBO sellers, that’s exactly what it is. Do you have the time and capital to spend on marketing, advertising, inspections, paperwork, phone calls, showings, and problems that come up when any home is sold?
Selling with a professional agent also has other advantages. An agent can get your home listed on the MLS (Multiple Listing Service) and other popular websites where not only homebuyers but also other agents can easily find it. Professional real estate agents also have an extensive network
that allows them to more easily find a buyer.
So before you decide to sell your home yourself, thoughtfully consider just how much time and effort you can spare for selling your home, as well as how important it is that your home sell sooner rather than later.
Setting the Price
The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.
Several factors will contribute to your final decision. First, you should compare your house to others that are on the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis). The CMA will reflect the following:
houses in your price range and area that were sold within the last half-year
asking and selling prices of houses
current inventory of houses on the market
features of each house on the market
From the CMA, you will learn the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.
Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.
Always be realistic. Understand and set your price to reflect the current market situation.
Getting the highest value in the shortest time
In order to get the highest price in the shortest time, you need to know how to market your home. The better you market your home, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want.
The most important factor in marketing your home is pricing it right. Your price should be adjusted to reflect the market and your property’s worth. The key is to get as many people as possible to check out your fairly priced property. If your property is not priced fairly, there will be no buyers because your price is set too high.
Another important factor is the condition of your home. Make sure that your home looks ready to be sold. Fix any defects (peeling or faded paint, cracks, stains, etc.) Condition alone can sometimes prompt fast buying decisions. Not only should you fix any defects, but consider upgrading your home by making major repairs and cosmetic improvements before selling. A nice-looking home triggers an emotional response that can lead to a financial response.
Learn how to negotiate the best terms for all parties involved. Terms are another factor that may be adjusted to attract buyers. If you insist on getting your asking price, think of what you can offer to the buyers. For example, improvements you’ve made or even offering seller financing at a lower than the market interest rate on a portion of the sale price. Convince them why they should be paying the price you have set.
Lastly, get the buzz out about your home. List your house with a hot agent that ensures your house is listed on the MLS and on the Internet. On your own, get the word out. The contact information for the yard sign should also be visible to passersby that your house is for sale, whether it is through signs, local advertisements or you telling friends, family, and acquaintances.
I created these secrets based on helping hundreds of buyers over the years. I’ve tested everything that works and weeded out what doesn’t. It’s all here in one place for you!
Buying a home can be confusing and even intimidating at times. That’s why it’s perfectly okay to find yourself outside of your comfort zone.
These topics are like the “back story” or a first glimpse of the “behind the scenes” of buying a home. They are a good overview about things you should think about and consider before you begin a serious search for a home. Everyone needs to prep themselves before embarking on something new, right?
By reading these articles, you’ll become a more attuned buyer who understands that buying a home doesn’t have to be stressful or full of regret. (I’ve got other series that will be more detailed about mortgages, budgeting, and each and every step you’ll need to take up till closing.)
Go With the Flow of the Market: Just like riding a wave in the ocean, you’ve got to learn about that natural ebbs and flows of the market and what to expect when. Buying a home requires an understanding of not only the seasonal shifts in market activity but also the weekly flow of the market. You need to change tactics depending on the season and I’ll break it all down for you and tell you exactly when the tide is coming in.
What NEVER to Do Before Buying a Home: Did you know that some normal — even harmless everyday activities — could hurt your chances of buying your dream home? I’ll tell you exactly how you can avoid common slip-ups that might take you out of the homeownership game.
Red Flags to Avoid When Buying a Home: No home is perfect, but our list of hidden red flags could save you in the long run. You might be surprised by what to look out for before you make an offer. I’ll explain how to know the difference between a red flag and when to waive the white flag in surrender and move on to another, better home.
4 Little Known House Hunting Tips: Many buyers think looking at homes is much more fun than dealing with their mortgage company. And we agree! But even though you’ll feel like you’re house hunter on an episode of HGTV, it’s still time to be strategic. I’ll tell you about two little-known things you should do, and two things you shouldn’t do when house hunting.
Our Buyers’ Most Frequent Questions Answered: The questions swirling around in your mind are likely the same ones that every buyer wants to ask too. You want to make sure you don’t do something wrong, right? Or, you might worry that you don’t know what you don’t know? I provide answers to some of the most common questions we get AND you’ll become better informed and more reassured.
Is the “Paradox of Choice” Derailing Your Home Search: As a buyer you might find yourself “wanting to see everything” in your price range or needing to look at “just one more” house or condo? I use the secrets in this book every day with clients and can’t wait to share them with you! More is not always better!
How to Buy a Home Even with Student Loan Debt: You’ll be surprised at how you can still buy a home despite having what feels like crushing amounts of student loan debt. There are even some great loan programs for people in certain industries, like doctors, that have ultra-high amounts of debt. “Can’t stop, won’t stop” is my motto when it comes to student loans being in the way of you becoming a homeowner.
Buying a Home Is Like Falling in Love: I always say, buying a home is like finding a mate -- you’ve got to know your must-haves and your deal breakers. And, did you know that sometimes you have to get your heart broken by losing out of a property before you can get serious about buying? Sometimes that “first breakup” makes you stronger and wiser. Here’s how you can make the most of your journey in finding a home you love … and will eventually buy.
Get In Touch
Email: info@veesellsgeorgia.com
Address
200 Glenridge Point Pkwy, Suite 100 Atlanta, GA. 30342
Assistance Hours
Mon – Sat 9:00am – 7:00pm EST
Sunday – By Appointment Only
Phone Number:
678-820-7335
Homes By Krista
7620 Balfour Road
Brentwood, CA
Phone: (925) 325-4663
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Homes By Krista is a licensed Broker in the state of California and is a leading authority on East County, California area real estate. Our love for the communities we live and work in are why we do what we do. Stop by the office and experience the Homes By Krista way of East County area real estate.
Homes By Krista is a licensed Broker in the state of California and is a leading authority on East County, California area real estate. Our love for the communities we live and work in are why we do what we do. Stop by the office and experience the Homes By Krista way of East County area real estate.
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Bay East (c)2021. CCAR (c)2021. bridgeMLS (c)2021. Information Deemed Reliable But Not Guaranteed. This information is
being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. All data, including all measurements and calculations of area, is obtained from
various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated at (2021).
Bay East (c)2021. CCAR (c)2021. bridgeMLS (c)2021. Information Deemed Reliable But Not Guaranteed. This information is
being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated at (2021).
Bridge-CCAR-Bay East data last updated at May 7, 2021 6:59 PM
Bridge-CCAR-Bay East data last updated at May 7, 2021 6:59 PM PT