How Real Estate Selling Works
You probably are thinking that the best way to sell your home is to hire a good real estate agent who will hold open houses, advertise your property, set a realistic asking price, and show potential buyers your property. That is certainly how the ‘traditional’ real estate sales process works.
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If you choose to sell your house through this‚ traditional method you will find that you must. You probably are thinking that the best way to sell your home is to hire a good real estate agent who will hold open houses, advertise your property, set a realistic asking price, and show potential buyers your property. That is certainly how the ‘traditional’ real estate sales process works. If you choose to sell your house through this‚ traditional method you will find that you must
- Be prepared to show your house at a moment’s notice - Expect the bank to dictate the terms of the sale. - Be limited to buyers willing to pay ‚points‛ just for the privilege of borrowing from a bank. - Be prepared to bargain with the buyer over the price of your home, the terms of the sale and the condition of your property. - Be prepared to wait up to three months or more to close the sale after you have found a buyer. |
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The sale of your property is a long and drawn out process. It is not easy for you, your buyer, or your agent. It is expensive and can be complex. You should do everything you can to facilitate the sale of your property. A good agent may suggest clever ways to entice buyers to bid a higher price. He or she may recommend fixing up your bathroom, painting the outside, or doing some repair work. All of this is meant to give your house ‚appeal‛ and to help you sell your home more quickly. Some clever agents may even suggest baking cookies when prospective buyers come or putting high wattage bulbs in your lights to suggest brightness or installing an automatic garage door opener. All of these do, indeed, add perceived value to your property. There are many books on how to give your home this appeal. You should heed their advice. |
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Nonetheless, the single most important thing you can do is to aid the buyer in the financing of your property. If you offer ‘Transferable Seller Financing’ you automatically offer your property to a much larger market of potential buyers. |
