Updated: Oct 20, 2021
The COVID-19 has adversely shaken the roots of the economic infrastructures across the globe. At the beginning of 2020, the catastrophic calamity led the world to a standstill, severely limiting the number of potential buyers in the market, deducing it might not only be cumbersome to find a potential taker for your property in these daunting times but securing lucrative gains is also utterly impossible. Since early summers, despite all the negative headlines, a refreshed sense of optimism has struck the real estate market. The housing market is still coping up with the COVID-19 effects, where the unprecedented low-interest rates are fueling the buyers’ market topped with COVID-19 spread and the desperate sellers are concerned about where things are heading.
The outbreak might have stalled your plans to sell your home, but as the nation starts moving towards the post COVID scenario, there are plenty of reasons not to panic sell. There is a consensus that the prices would inflate once the vaccine fully rolls out if you are planning to negotiate a handsome deal. From sprucing up the interiors to finding the right broker, a few virtuous tips may come in handy to top off your home sale game, increasing its resale value manifold.
Find the local real estate agent
The right person who knows the ABCs of the real estate market can notch up the selling game with their apt knowledge and legit experience. The local realtors are well-versed in how the extrinsic factors, interest rate, recession, and housing inventory influence market rates. Their savvy marketing skills, discretion, and profound network come in handy to cash the pitfalls while negotiating a lucrative deal. Of course, you have to pay to savour all these perks. From accessing the extensive media listings to potential MLS sites to exquisite in-house networks to aced photography to pre-listing inspections, the skilled realtor uses advanced technological tools to procure the volatile market trends while narrowing down the potential buyer's window to facilitate you in making the most informed decision at hand.
Set a competitive price
When you are planning to enter the resale market, it is prudent to critically analyze the volatile marketing trends to quote the right price for your property; it will save you the lifetime regret of selling your property at a loss. While underpricing leads to non-realization of property value, similarly, setting a higher price will not invoke the interest of the potential buyers, letting your house rot on the MLS site for longer.
Setting a competitive price depends upon:
● Average sale prices of the houses sold in the same neighborhood within the last 3-6 months.
● A sound locale
● Social and physical infrastructure and conveniences
● Competitive market analysis
● Pricing your home a little lower garners buyer's interest if you want a fast selling.
● Scrutinizing the price points that buyers search in your area.
Don’t slack on staging
First impression matters! Even desperate buyers walk off if you don’t live up to the price tag. Buyers tend to envisage themselves as they walk past your door. But they won’t be able to if every nook of your house is stuffed.
● Give your home a thorough cleaning to flaunt a spic and span display
● People are often buying into a lifestyle, rearrange your furniture to boast an inviting ambiance.
● A crowded room looks small; a hint of minimalistic aesthetics can break the ice.
● A fresh lick of subtle hues emanate light and ample space
● Fixing the minor details, like leaking faucet, a broken fixture, damaged windows, cracked tiles, or broken staircase, can inch up the overall display
● Get rid of foul odors, limescale, wax wooden floors to exude an aesthetically appealing scent.
● Trimming the shabby bushes to cleaning the patio to mowing the grass, imbue your witty aesthetics into tidying up your garden.
Quality listing display
With the advent of subsequent lockdowns, sellers need to firm up their sale plans. With many people working remotely, making use of classified ads, competitive online portals are imperative. The registered portals can verify your properties which adds a dash of authenticity to your listing. Some online portals prompt free advertisement services. Amidst the pandemic, the online connectivity and ample usage of tech-savvy databases are immensely facilitating the number of queries generated for a property. To make your property searchable:
● Use right keywords
● Improvise the quality of property description
● Avoid using real estate jargons
● Keep it simple
● Use 4K videography or aced photography to hitch the sight of buyers.
Virtual tour will bring more
A successful open house is a significant part of a sale. As the COVID-19 has paused on in-person viewing, listing the home with a virtual tour can elicit greater interest among potential buyers boasting the price manifold. From dIsplaying your property from the aerial view to explicitly capturing angles prompting the buyers an experience how they would be within the space while they walk through the house virtually is peerless.
Sweeten the deal
Offer an attractive deal to sweeten a pot. Buyers are looking for a lucrative deal; make sure you make them feel that they get one. You can pay all closing costs or offer them a transferable home warranty, prompting discounted repair and replacement for house appliances. Make them feel at ease that the home is protected.
When you are adamant about selling your property, it is essential to sit on the negotiating table with an open mind and a flexible stance. Do not become too fixated on the property value that you end up losing potential deals. If the buyer wants to buy your property without furniture, make sure the terms are debatable.
From closing costs to mandatory maintenance to staging your house to buildable utility dues, stave off your money from going down the drain by securing win-win deals with Honest Reviews 4 You.