Just as buying your home was a big undertaking, selling it again is just as significant a project. You can do this yourself, however if you decide to use an estate agent then it is in your interest to understand all the elements that will go towards a successful sale.
If you go the route of the estate agent then bear in mind that in general they will receive 2.5 3 of the sale price. In return for earning this commission they should be extremely proactive and aggressive in marketing your house and getting it listed so that it can be sold as quickly as possible. It s worth getting recommendations from a few trusted friends and neighbours to see if they can recommend any estate agents. It is even more beneficial if you can find someone who specialises in your area and will have local area knowledge. You should get a feel for how they work and what they are like to deal with. Selling a house is a big project so it is vital that you find someone you are comforable doing business with. If your gut instinct tells you that a particular agent is not for you then don t be afraid to walk away.
In order to get an idea of market prices, review the recent housing listings for your area and set a strategic asking price. Your agent should be able to get comparative prices and perform a thorough market analysis basied on various factors such as the location, size and condition of your house. Make sure that you ask to see the agent s price analysis so that you can understand how they calculated the asking price. Make sure that your neighbours are aware that your house is going on the market. It s always worth hosting an open house as your friends and neighbours may know someone who is looking to buy. It s a simple idea, but one that could save you thousands.
Make sure that you perform any necessary maintenance on your house, including painting and decorating to ensure that your house is as presentable as possible. If people are going to be browsing your house at short notice then you don t want to be caught unawares with an untidy house. First impressions are hugely important so keep the windows clean, cut the grass and remove any weeds from the flowerbeds. If you have any dogs or cats then keep them outside whilst showing people round.
If you think that a viewer is going to make an offer then be prepare to haggle as the majority of buyers will not offer the full asking price the first time around. Property is a buyer s market so you should establish what is most important to you whether it be price, moving date, keeping your appliances. Having said that, the first price is often the best one.
If you are lucky enough to receive several offers then weigh up the pros and cons of each. Take into consideration the offering price, the finances of the prospective buyer and whether the sale is dependant on the sale of the buyers existing house.
If you find that your house isn t attracting many offers then be prepared to drop the price. Start conservatively and just drop it by 5 to see if that improves matters.
Author Resource:-
Dave Matthews is writing on behalf of Shepherd Gilmour (http://www.shepherdgilmour.com), a leading Manchester Estate Agent.
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