Lynne Morey's Blog
If you're on the fence about whether to reject or accept an offer to purchase, it is important to remember that a third option is available: submitting a counter-offer.
Ultimately, deciding to submit a counter-offer can be a tough choice for first-time and experienced house sellers alike. But we're here to teach you about the benefits of counter-offers and ensure you feel confident to submit a counter-proposal as needed.
Let's take a look at three tips to help you decide when to submit a counter-offer.
1. Assess Your Residence
Although the initial asking price for your house is not set in stone, you likely have expectations about how much you should receive for your home. But if a homebuyer submits an offer to purchase that falls below your expectations, you should assess your residence to help you make the best-possible decision.
Try to take an objective view of your home – you'll be glad you did. For instance, if you discover your home is one of many similar properties available in a buyer's market, you may want to accept an offer to purchase, even if it falls below your expectations. On the other hand, if you feel that your home is in great condition and you receive an offer to purchase that is short of your initial asking price, you may want to counter the proposal or reject it altogether.
2. Review the Housing Market
Housing market data can help any home seller make informed decisions throughout the property selling journey. There is plenty of housing market data at your disposal, and you should not hesitate to use it, especially when you analyze an offer to purchase.
Oftentimes, it helps to look at the prices of recently sold residences, the prices of available residences in your area that are similar to your own and other pertinent housing market data. With this information, you can gain deep insights into the housing market. Then, you can determine whether an offer to purchase falls in line with the current state of the real estate sector.
3. Work with a Real Estate Agent
There is no need to review an offer to purchase on your own. Fortunately, if you hire a real estate agent, you can get the help you need to perform an in-depth analysis of any offer to purchase.
A real estate agent is a house selling expert who will allocate the necessary time and resources to help you review an offer to purchase. He or she can provide a recommendation about whether to counter a homebuying proposal and explain the reasons for this recommendation as well. Plus, if you ever have concerns or questions about an offer to purchase, a real estate agent is happy to address them.
Should you counter an offer to purchase? The answer depends on the home seller, the real estate market and other factors. And if you use the aforementioned tips, you can perform a full evaluation of an offer to purchase and proceed accordingly.
If you want to promote your house to potential buyers, there is no shortage of options at your disposal. In fact, some of the proven ways to showcase a residence to potential buyers include:
1. Home Listing
A home listing can make a world of difference for any home seller, at any time. However, it is important to note that not all home listings are created equal. But if a seller allocates the necessary time and resources to create an effective home listing, he or she should have no trouble stirring up interest in a residence.
Oftentimes, an effective home listing includes accurate information about a home's age and condition. The listing also should be both informative and engaging.
The ideal home listing should be shared with a seller's family members and friends too. That way, a seller's loved ones can offer details to lots of potential buyers about a residence, thereby increasing the likelihood of a fast home sale.
2. Social Media
Facebook, Twitter and other social networks are exceedingly valuable to home sellers. These networks enable sellers to share details about their residences, as well as respond to potential buyers' concerns and questions.
If you decide to share details about your home via social media, it often helps to include high-resolution photographs of your residence. With these photographs, a seller can showcase various areas of a home and help a buyer determine whether to set up a date and time to check out a residence in-person.
Furthermore, don't forget to post to social media regularly. Because the more frequently that a seller shares details about his or her home across social networks, the more likely it becomes that a potential buyer will learn about the residence and schedule a home showing.
3. Real Estate Agent
If you are unsure about how to promote your residence to potential buyers, there is no need to worry. Dozens of real estate agents are available in cities and towns nationwide, and these housing market professionals can guide you along the home selling process.
A real estate agent will learn about your home selling goals, as well as your residence. Then, this housing market professional will offer home selling suggestions and help you map out a successful home selling strategy.
Typically, a real estate agent will set up home showings and open house events, keep you up to date about offers on your residence and negotiate with a buyer's agent on your behalf. He or she also is unafraid to speak from the heart, and as such, will provide honest, unbiased home selling recommendations.
Perhaps best of all, a real estate agent can respond to your home selling queries. This housing market professional will even educate you about the real estate market and ensure that you can make informed home selling decisions.
Ready to promote your residence to large groups of potential buyers? Use the aforementioned options, and you can improve your chances of stirring up substantial interest in your house.
Selling a home usually requires various investments along the way. In fact, some of the most common house selling costs include:
1. Lawn Care
Maintaining a neat, tidy lawn is crucial, particularly for a seller who wants to stir up significant interest in his or her residence. As such, it generally is a good idea to account for lawn care costs as you put together a house selling budget.
Sometimes, home sellers hire professionals to mow the lawn, trim the hedges and conduct other lawn care tasks. If you decide to enlist lawn care professionals, you should explore all of the options at your disposal. That way, you can find a lawn care provider that offers a terrific mix of affordability and convenience.
You also can perform regular lawn care tasks on your own. This will allow you to eliminate the cost of a lawn care provider and ensure your lawn will impress potential buyers any time they see your residence.
2. Home Repairs
House repairs can be expensive, especially if an individual has failed to maintain his or her residence properly. If you dedicate time and energy to analyze your house, you can identify home problems and prioritize property repairs accordingly.
It may be helpful to conduct a house inspection before you list your residence. During a home inspection, a property expert will review your residence and identify any underlying issues. Then, you can use a home inspection report to determine how you can improve your residence.
Of course, you can limit home repair costs by completing property improvements on your own. On the other hand, if you want to hire a professional, there is no shortage of home improvement specialists available in cities and towns nationwide. And if you reach out to local home improvement specialists, you should be able to find one who can fulfill your requests.
If you relocate to a new house but still need to sell your prior residence, you will need to account for the latter home's water and electricity costs. Remember, a homebuyer likely will want to test a house's faucets and toilets to ensure running water is available before he or she purchases a house. At the same time, it may be tough to show a residence to buyers if no electricity is available.
As you get set to sell your residence, it may be beneficial to hire a real estate agent, too. A real estate agent is equipped to help a home seller streamline the property selling journey. Thus, if you want to learn about home selling expenses, a real estate agent is happy to teach you about them. Or, if you have questions about the home selling journey, a real estate agent can respond to them without delay.
Want to sell your residence? Consider the aforementioned home selling costs – you will be glad you did. Because if you develop a house selling budget, you can boost the likelihood of enjoying a successful property selling experience.
As a home seller, it is crucial to do everything possible to prepare for a house showing. Yet determining the best ways to prep for a showing sometimes can be difficult. Fortunately, we're here to help you get ready for any showing, at any time.
Now, let's take a look at three tips to help you plan for a house showing.
1. Upgrade Your House's Curb Appeal
Although a property buyer likely has seen pictures of your house or walked or driven past your residence, there may be no time like the present to upgrade your home's curb appeal. Because if a buyer sees your home's beautiful front lawn and other stunning exterior features on the day of a showing, he or she may instantly fall in love with your residence.
Completing assorted home exterior improvements is crucial to enhance your residence's curb appeal prior to a showing. In fact, performing home exterior tasks like mowing the lawn and repairing damaged siding will help your residence make a positive first impression on potential buyers. Home exterior improvements ultimately may help you accelerate the property selling journey too.
2. Remove Clutter from Inside Your Home
Clutter is a major problem because it may make your house appear small and messy. If you allocate time and resources to remove clutter prior to a home showing, however, you can highlight the true beauty of your living space to potential buyers.
If you own items you no longer need, you can always sell these items online or at a yard sale. You also can donate unwanted items to charity or give them to family members or friends.
In addition, you can always put various items you want to keep in storage. If you rent a storage unit, you can keep assorted belongings safe until your residence sells.
3. Consult with a Real Estate Agent
With a real estate agent at your side, you can receive comprehensive support leading up to a house showing. A real estate agent will offer recommendations and suggestions to ensure you know what to expect from a showing. Plus, he or she will respond to any of your home showing concerns or questions.
Furthermore, a real estate agent will help you navigate the home selling cycle. He or she first will meet with you, find out why you want to sell your residence and help you craft a property selling strategy. Next, a real estate agent will promote your residence to dozens of prospective buyers. And if you receive an offer to purchase your home, a real estate agent will help you analyze this property buying proposal. A real estate agent will even negotiate with a buyer's agent on your behalf to help you optimize your home sale earnings.
When it comes to hosting a home showing, there is no need to worry. Thanks to the aforementioned tips, you can plan for a home showing. And as a result, you can take the necessary steps to ensure a home showing is an instant success.
An ambitious home seller may be better equipped than his or her rivals to enjoy a seamless property selling experience. In fact, this individual likely will go the extra mile to ensure buyers can learn about his or her house and make an informed purchase decision.
Believe it or not, becoming an ambitious home seller can be simple. Now, let's take a look at three tips to help you streamline the home selling journey.
1. Analyze the Housing Market
The local housing market may have major ramifications on the home selling journey. If you review real estate market data, however, you can differentiate a buyer's market from a seller's market. Then, you can map out your home selling journey accordingly.
Review the prices of available houses in your city or town that are similar to your own. Also, check out the prices of recently sold homes in your area and find out how long these residences were available before they sold. With this housing market data in hand, you can distinguish a buyer's market from a seller's market. Plus, you may be able to find innovative ways to differentiate your home from the competition.
2. Evaluate Your Home
Your home – like all other residences – has various strengths and weaknesses. If you perform a comprehensive home evaluation, you can identify your house's weaknesses and explore ways to transform them into strengths.
It may be helpful to schedule a home inspection prior to listing your residence. During an inspection, a property expert will walk through your home and identify any underlying house issues. He or she next will provide you with an inspection report that you can use to prioritize home repairs.
In addition, you may want to perform an appraisal. If you obtain an appraisal report, you can receive a property valuation that accounts for your house's condition and the current state of the housing market. You then can use this property valuation to establish an aggressive initial asking price for your home.
3. Work with a Real Estate Agent
A real estate agent understands the ins and outs of selling a home, regardless of the current housing market's conditions. He or she will help you promote your residence to the right groups of buyers and host home showings and open house events. Furthermore, a real estate agent will help you review any offers to purchase your residence and provide assorted house selling tips.
If you hire a real estate agent, you can receive lots of insights into the housing market that you may struggle to obtain elsewhere, too. Perhaps best of all, a real estate agent is prepared to respond to your home selling concerns and questions at any time.
For those who want to enjoy a successful home selling experience, it helps to prepare for the home selling journey. By using the aforementioned tips, you can become an ambitious home seller and quickly generate significant interest in your residence.