3 Things You Must Know Before Selling Your Home

3 Things You Must Know Before Selling Your HomeDuring the course of one’s life, a lot of major decisions have to be made. One of the most important decisions is making the choice to sell one’s home. There are a number of reasons why an individual chooses to sell their property: a change in job, the family getting larger, needing to downsize, or being unable to maintain the property adequately. This entire process of selling one’s property can be incredibly stressful, and there are some important items that one should know before moving to actively sell their property. Any experienced real estate agent, such as Ron Shelton of Breckenridge Associates Real Estate, can help their clients avoid common pitfalls that can occur when selling one’s property.

1. Find Out What Your Property is Actually Worth

The first item to know before a person sells their property is to have an accurate assessment of what their property is actually worth. Property values do change over time, and certain improvements to one’s home can greatly increase the property’s value. A licensed Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, can go over the property and tell the homeowner what the current market value is. This is greatly beneficial in setting a market price that takes in account the local area. A Realtor can also provide useful suggestions to increase the value of the home or areas that need to be improved in order to help sell the home. One big home area that gets a lot of attention is the kitchen. It’s been shown that a kitchen remodel offers a return of 66% of the investment cost but having an updated kitchen is a major selling point to the prospective homebuyer.1

2. Find a Reputable Realtor®

Another important consideration when selling one’s home is to find a reputable Realtor®. In 2014, there were a total of 421,300 individuals working in the real estate market as brokers and sales agents.2 A whopping 83% of that total were actually independent contractors.3 One should look for a highly experienced Realtor®, such as Ron Shelton of Breckenridge Associates Real Estate, who have years of experience, a highly trained staff, extensive local knowledge, and a solid track record of selling. One could decide to sell their property on their own, but having a licensed Realtor® greatly reduces the stress and hassle of selling a property. Realtors also have the legal expertise to help the seller navigate any potential pitfalls and ensure that the seller’s interests are legally protected.

3. Know the Right Channels to Sell Your Home Through

Knowing the right channels to use in selling one’s home is also vitally important. How people buy properties has been changing greatly over the last few years. 2014 saw consumers use online searches 92% of the time when looking to buy a home, and mobile and tablet use jumped to almost 60% use on the weekends.4 Time-honored methods for selling a home are becoming increasingly less useful and obsolete. An example of this is the open house. The National Association of Realtors reported that only 9% of buyers in 2014 found the home that they eventually bought at an open house, and this number is actually down from 16% of buyers back in 2004.5 In fact, seeing a home in real life has become a much later step in the process of evaluating a home for purchase as online research has taken precedent. This is why a homeowner should choose an experienced real estate agent, such as Ron Shelton of Breckenridge Associates Real Estate, that uses multiple avenues for selling a home, such as  print ads, online listings, open houses, virtual tours, and more.

Ron Shelton of Breckenridge Associates Real Estate notes, “There are a lot of mistakes that a person can do when deciding to sell their property. It’s vital to know the true value of what your home is worth, as well as using a Realtor to show you what such properties are currently selling for in the local area. We fully inform our clients of what they can reasonably expect to sell their home for so as they can make an educated decision on their asking price. Asking for way too much initially can severely discourage any future bids. We also provide our clients with some useful suggestions on how to increase the value of their home as well as notifying them of areas that definitely need improvement to draw interest from buyers. One of the more important aspects of our relationship with clients is that we legally protect their interests. We spell out what they are responsible for within the contract, as well as reviewing their title and making sure that every part of the sale meets with local zoning laws or deed restrictions. We use every means at our disposal to make sure that buyers are aware of the new property for sale and work hard to complete the transaction as quickly as possible.”6

As one can see, there are some important factors to consider before selling one’s property. An accurate assessment of what the home is worth and the state of the local real estate market are two main items of consideration. Finding a reputable real estate agent, such as Ron Shelton of Breckenridge Associates Real Estate, is also important as they can greatly reduce the stress and aggravation of selling one’s property. A proper Realtor will use multiple methods to sell one’s property and will legally protect the seller’s interests. Understanding such issues before making the decision to sell one’s home can help the homeowner avoid some costly mistakes.

References:

  1. http://money.usnews.com/money/personal-finance/articles/2012/10/25/renovations-that-yield-the-best-return-on-investment
  2. http://www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm
  3. http://www.realtor.org/field-guides/field-guide-to-quick-real-estate-statistics
  4. https://placester.com/real-estate-marketing-academy/real-estate-marketing-statistics-2014/
  5. http://www.realtor.com/advice/true-purpose-open-houses/
  6. Quote from Realtor Ron Shelton of Breckenridge Associates Real Estate

Ron Shelton
Broker/ Partner

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