How to Sell Your Home for the Best Result?
If you were one of the lucky few who sold your home last year, then question asked and answered. Indeed, homeowners enjoyed one of the best bull markets ever. Unfortunately, that was then, this is now.
Today, home sellers must accept the new normal. That is — homebuyers once again have a seat at the negotiating table. Moreover, they are offering less and demanding more. The reason — the pool of eligible homebuyers has declined significantly due primarily to affordability issues. As a result, sellers can no longer dictate price, terms, and conditions.
So here are a few tips for those homeowners who are thinking about selling their home.
Accept the New Normal
That’s right! It’s time to stop second guessing yourself with the — why didn’t I sell my home last year nonsense. Forget about it. You didn’t and you probably had a good reason. Now is the time to get ready to negotiate because it’s your job to make sure you get the best possible deal.
Hire a Good Agent
Hiring the right agent is probably the most important part of selling any property successfully. Remember the old adage “there is no substitute for experience”. That’s true but make sure the agent you hire is hungry. Experience is important but so is attitude. You want an agent who is going to “knock down that door” to get you the best possible deal. Remember, you are selling your home which, for most people, is the largest investment they own. So, choose carefully.
It’s Business Not Personal
Another tidbit of useful advice. Don’t get offended if a buyer or a buyer’s agent submits an offer that is less than you expected and/or demands you fix items which you think are inconsequential or unreasonable. That’s their job. Remember they want a good deal too. Work it out. Find a solution. Negotiate and try and get a deal that works for the both of you. Don’t let your pride or ego get in the way of closing a financially sound deal. Make a good business decision not an emotional one.
Don’t Be a Door Mat
Sometimes you have to walk away from an offer. It’s OK. If a deal doesn’t make financial sense, then don’t do it. You don’t have to be a door mat. Explore your options. Talk it over with your agent. As an example, some homeowners are now considering “renting” instead of selling their home. It may not be a desirable or even a viable option for you but check it out. Desperate times sometimes call for desperate measures. Be flexible. Be creative.
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About TEAM COYLE
Team Coyle, a professional group of real estate agents at Compass, has more than ten years of experience helping individuals and families buy and sell real estate in the Greater Boston Region of Massachusetts (primarily MetroWest).
