7 Common Home Selling FAQs Answered

Selling a home can be overwhelming, time-consuming, or emotionally challenging, especially if you’ve never done it before. With these in mind, we’ve answered seven questions that can help you set realistic expectations about the entire home selling process. You’re welcome!

Q: When is the best time to sell my house?

A: You can sell your home any time of the year, but there are months when selling a property is easier, faster, and more profitable. Real estate is a very localized industry, and thus the best time to sell your home will also depend on your local market and your situation as a homeowner. It’s crucial for you to assess whether your area is a buyer or a seller market to know when is the perfect time to put up that for-sale sign.

Generally, spring and summer seasons are peak homebuying seasons since the weather is more favorable for viewings and open houses. ATTOM Data says that selling in May, June, and July is best if you want to maximize the money from your property. Residential real estate transactions tend to be slower in the fall and winter, particularly in January.

Q: How long will it take to sell my house?

A: This will again depend on the requirements of your local housing market. Your listing price and the state of your home will also factor in the time to sell a house. Data from the National Association of Realtors show that the average home is on the market for 62 days. However, this still varies per state. In Vermont, an average house stays 186 days on the market before being sold, while it only takes 37 days for a property in Washington to secure a buyer.

Q: Do I need to hire a real estate agent?

A: It’s advisable to tap a real estate agent whether you are selling or buying a house, regardless if it’s your first time or not. These professionals have ample property knowledge, access to marketing resources, and potential buyers in the market that can help you sell your property easier and faster. They also have insights and advice to make the home selling process as smooth as possible. A great agent will also help you stage your home because they have an idea of what buyers want to see in a home.

Lastly, real estate agents are authorized to carry out the sale of a property on your behalf. This means that selling your home doesn’t take up so much of your time, and you can devote that time to preparing to move to another property. Many home sellers make the grave mistake of not hiring an agent to save on commissions, only to spend more money and even time taking care of the process.

Q: What should I do to prepare my house for the market?

A: This is one of the most asked questions by home sellers before listing their homes. The first step is to identify what needs to be repaired or replaced in the house. Make a plan on the refurbishments you are willing to make, like repainting, replacing flooring, and upgrading some kitchen cabinets or light fixtures. A simple repainting job can instantly lift the value of your home and even make it look new.

Declutter and depersonalize your home for potential home buyers to view. This may be emotionally taxing for some, but setting the stage for potential new homeowners will get you a buyer faster and start the negotiations.

Q: Should I make repairs before listing the house?

A: Many homebuyers, especially the younger ones, are looking for a move-in-ready property. Depending on the condition of your property, it’s better to make some minor or major renovations before listing the home. A whopping 76% of homeowners in the US want to purchase houses that do not require much work and elbow grease before moving in.

Q: Should I leave room for negotiations when pricing my house?

 A: Pricing your home is not easy, but once you have locked down how much your house is worth, it’s essential to be realistic while deciding on your listing price. Pricing your home too high may turn away buyers while pricing it too low may not get you a fair deal.

If you have a real estate agent with you during the process, follow their recommendations. Most of the well-priced homes in the US now have price tags close to the actual property value, so there’s no need to make massive changes regarding the listing price.

Q: Do open houses still work?

A: Believe it or not, conducting an open house is still an effective way to sell a house. Especially now, the process of open houses has also evolved. Virtual open houses are a great way to present homes to a wider market. For example, if you are planning to move from the East Coast to the West Coast, you don’t need to fly just to view properties. You can simply view virtual open houses online. Some agents even conduct a private virtual house tour so you can ask specific questions.

If you want to do it the traditional way, a well-advertised public open house on the first weekend of the sale of your home is highly recommended. This is for the word to come out that there’s a property for sale in the area and to pull in interested people and probably some nosy neighbors.

Takeaway

Finding a buyer for your beloved home is a complex process. However, asking the right questions and getting correct and informative answers will improve your home selling journey and be hassle-free. Selling your home could be a life-changing decision for you and your family, so it’s essential that you get value for your money on the property.

Finally, if you’re keen on selling your property as soon as possible, you can go to Shorefront Investments as they close deals in as fast as one week. Fill out this form to get started and wait for them to reach out to you for a viewing schedule.