Don’t Tackle Selling Your Home on Your Own – an Agent Can Help

If you’re looking to maximize your sale and minimize your effort, you need to work with a real estate professional. In a sellers’ market like today’s, it can be tempting to list your house on your own – known as For Sale By Owner (FSBO). But the truth is, a real estate professional can save you time and money by managing every step of the process, from pricing your home to reviewing documents and handling negotiations.Before you decide to sell your house on your own, here are five reasons why working with an agent is your best bet to maximize the sale of your home.1. First impressions are everything – and an agent knows how to make a great one.Prepping a house for sale requires a significant amount of time and effort, even though it may seem simple at first glance. Doing it right so it stands out takes expertise and an understanding of what buyers are looking for. An agent considers things like:Should you take down any personal art or pictures?How much landscaping should you invest in to boost your house’s curb appeal?What wall colors are most appealing to buyers?An expert real estate advisor relies on their experience to answer these questions and more so you don’t invest in the wrong things. Your time and money are important – you shouldn’t waste either.2. Agents have tools to maximize the number of views your home gets.Put plainly, the more buyers that view your house, the better your return will be. In our current market, homes are receiving 3.8 offers on average per sale, according to recent data from the National Association of Realtors (NAR). While that’s promising for the sale of your home, it’s important to understand your agent’s role in bringing buyers in.Agents have multiple tools at their disposal – from social media to agency resources – to ensure your home is viewed by more prospective buyers. Leveraging the tools available to your agent and your agent’s expertise may help boost your sale price as well.3. An agent won’t miss anything in the fine print.Your agent can also save you time by taking any guesswork out of navigating the required documentation. Today, more disclosures and regulations are mandatory, meaning the number of legal documents you need to juggle is growing.Because there’s so much to take care of, it can be hard to truly understand all of the requirements and the fine print. That’s where an expert advisor can truly shine. They’ve been through the process before and can be your guide to avoid any costly missteps.4. Expert advisors know the market and how to price your home.Another way your agent maximizes the sale of your home is by making sure it’s priced right. Real estate professionals have the experience to compare your house to recently sold homes in your area. They also understand the market at large and can factor in any upgrades you’ve completed to your home. Combining these factors is the key to making sure your home is priced to move quickly – and at a competitive price.When you FSBO, you’re operating without this expertise. Even with your own research, you may not find the most up-to-date information and could risk setting a price that’s inaccurate or unrealistic. If you price your house too high, you could turn buyers away before they’re even in the front door. This could also cause problems when it’s time for the appraisal.5. Your agent will be an expert negotiator. In addition to their experience navigating sales, real estate professionals understand how to negotiate every aspect of a deal. They also know all the parties that will be involved with the sale, including:The buyer, who wants the best deal possible.The buyer’s agent, who will use their expertise to advocate for the buyer.The inspection company, which works for the buyer and will almost always find concerns with the house.The appraiser, who assesses the property’s value to protect the lender.An agent relies on their experience and training to make the right moves during the negotiation. They’ll know what levers to pull, how to address each individual’s concerns, and when you may want to get a second opinion. Selling your house as a FSBO means you’ll need to be prepared to have these conversations on your own.Bottom LineSelling a house takes time, effort, and expertise – don’t go at it alone. Let’s connect to make sure you have an expert on your side to make the most of your saleContent previously posted on Keeping Current Matters

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Early October is the Sweet Spot for Buyers

Are you looking to buy a home? If so, we’ve got good news for you.While there’s no denying the housing market is having a great year, many of the headlines are focused on the perks for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing low mortgage rates versus price appreciation as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall.According to realtor.com, the sweet spot for buyers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years. When applied to the current market, experts determined the ideal week to buy a home this year. The research says:“Nationally, the best time to buy in 2021 is the week of October 3-9. This week historically has shown the best balance of market conditions that favor buyers.”So, what’s that mean for you? If you’re looking to buy a home, there’s a golden window of opportunity coming. Here’s what you can expect from that week.Increased Housing Supply The number of homes available for sale should increase. According to realtor.com, you can expect to see more new listings come to market the week of October 3. The findings estimate we’ll see roughly 17.6% more homes available than we saw at the start of the year.This means you’ll have more options to choose from which should be a welcome relief in a market with tight housing supply.Fewer Bidding WarsWith more homes available, you should also see a slight decline in the number of bidding wars. Having more options means buyers may not be competing as intensely for the homes on the market because there are more choices to go around.This means when you write an offer, you may have less competition and a better chance of being the top bid. Just remember, it’s still important to come in with a strong offer.Adjusted Homes Prices As we move into the end of the year, the findings from realtor.com note this week may also be one of the peak weeks for price reductions in 2021. Historically the data shows an average of 7.0% of homes have a price reduction that week. Why? When housing supply ticks up, sellers need to look for other ways to make their house stand out.This means, while home prices are still appreciating overall, you may see some homes with price adjustments from eager sellers. The process of closing a house takes time. To close before end of year, sellers may be more motivated this October.Bottom LineIf you’re in the market for a home, don’t lose steam now. Data shows early October may give you the long-awaited opportunity to find the home of your dreams. Let’s connect so you have a trusted ally and advisor to help keep you motivated so you can find the perfect home for you.Content previously posted on Keeping Current Matters

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If You’re a Buyer, Is Offering Asking Price Enough?

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle.Things Are Different TodayToday’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are:Receiving an average of  3.8 offersSelling in just 17 daysHomes selling quickly and receiving multiple offers highlights how competitive the housing market is right now. This is due, in large part, to the low supply of homes for sale. Low supply and high demand mean homes often sell for more than the asking price. In some cases, they sell for a lot more. Selma Hepp, Deputy Chief Economist at CoreLogic, explains how these stats can impact buyers:“The imbalance between robust demand and dismal availability of for-sale homes has led to a continual bidding over asking prices, which reached record levels in recent months. Now, almost 6 in 10 homes listed are selling over the asking price.”You May Need To Rethink How You Look at a Home’s Asking PriceWhat does that mean for you? If you’ve found your dream home, you need to be realistic about today’s housing market and how that impacts the offer you’ll make. Offering below or even at a home’s asking price may not cut it. In today’s market, the highest bidder often wins the home, much like at an auction.Currently, the asking price is often the floor of the negotiation rather than the ceiling. If you really love a home, it may ultimately sell for more than the sellers are asking. That’s important to keep in mind as you work with your agent to craft an offer.Understand An Appraisal Gap Can HappenBecause of today’s home price appreciation and the auction-like atmosphere in the selling process, appraisal gaps – the gap between the price of your contract and the appraisal for the house – are more frequent.According to data from CoreLogic:“Beginning in January 2020, nationally, 7% of purchase transactions had a contract price above the appraisal, but by May 2021, the frequency had increased to 19% of purchase transactions.”When this happens, your lender won’t loan you more than the home’s appraised value, and the seller may ask you to make up the difference out of pocket. Buyers in today’s market need to be prepared for this possibility. Know your budget, know what you can afford, and work with a trusted advisor who can offer expert advice along the way.Bottom LineBidding wars and today’s auction-like atmosphere mean buyers need to rethink how they look at the asking price of a home. Let’s connect so you have a trusted real estate professional who can advise you on the current market and help determine what the market value is on your dream home.Content previously posted on Keeping Current Matters

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