5 Real Estate Tips to Help You Sell Fast
01 November, 2021
Have you ever driven by a house that has had a “For Sale” sign for years? It is not uncommon to find them while driving around the city and suburbs.
On the other hand, some houses only have the sign for a few weeks or even days. Does it all depend on the demand for houses? The answer to that question is a maybe.
Many times, the successful sale of a home is dependent on the real estate agent and how efficient they are at their job. In this article, we are going to provide 4 realtor tips to follow to sell a property fast, but let’s start by understanding why real estate agents fail.
With so many realtors in the market, not all of them can be the best in the field. There are several real estate agents that do not follow the best practices and realtor tips to sell a home successfully. In fact, most real estate agents fail within their first year of practice.
Here are 5 real estate tips to help you sell fast!
1. Know Your Real Estate Terms
Not sure where you stand in your real estate terminology?
One example of this is a reverse mortgage, also known as the Home Equity Conversion Mortgage (HECM). According to All Reverse Mortgage, a reverse mortgage is a loan where borrowers are not required to make regular payments for as long as they live in the home as their primary residence. These payments are done via principal or interest.
Tenancy in common refers to joint ownership on a single-family or commercial property. With so many terms in the real estate world, be sure you’re brushed up on your definitions!
2. Give the Property a Makeover!
One of the real estate agent’s priorities should be to give the property amakeover.
Think about it. Who wants to buy a home that looks rundown? Only house flippers or a buyer that wants to knock down the property would be interested. Your list of possible buyers is reduced significantly.
Nevertheless, you should always keep in mind the added costs of making repairs. Therefore, only fix things that absolutely need fixing and would add value to the possible buyers.
For instance, if there are issues such as termites, mold, or a roof that’s about to fall... fix them immediately! To find out what needs to be repaired, conduct a pre-inspection on the property and decide what needs repair as soon as possible.
In addition to repairs, as a real estate agent, you are responsible for hiring someone to stage the house for buyers.
When a prospect walks into a house, they want to imagine what it would be like living there. Therefore, it is essential to stage the house with furniture, decorations, and other items that make it seem like someone lives there.
Don’t forget to clean and declutter as well, but do NOT store all items in closets and pantries. Many buyers said that ample storage was extremely important or very important. You don’t want to deter a possible buyer from buying the property simply because the storage looked cluttered and gave the illusion it’s small.
Many realtors rent storage rooms and use staging companies that can provide furniture and/or decorations to stage the house.
3. Get the Price Right
Homeowners do not want to leave any money on the table. As their real estate agent, you might think that the higher the price they set, the higher your commission is. This is not necessarily true.
Make sure to research comparable home values in the neighborhood and surrounding areas, and will probably have an estimate of how much the house you’re selling is worth.
An overpriced home usually stays in the market for a lot longer. Furthermore, if the price is lowered, prospective buyers might think there is something wrong with it and deter from even looking at it.
4. Adapt to the Digital World
The COVID-19 pandemic accelerated the upwards trend of companies adapting their business model to one that involves digital exposure and sales. Real estate companies are no exception to this.
There are a number of things you can do as a real estate agent to improve the house’s online presence. For instance, you can hire professional photographers to take candid pictures of the property and upload them to multiple social media platforms or listing web pages.
On top of professional pictures, 3D tours are becoming an essential part of the home buying experience. A 3D tour allows potential buyers to get the online experience to match as close as possible the in-person experience. This gives them a better idea of the dimensions, direction, and overall floor plan of the house.
Not only do potential buyers get the home buying experience from the comfort of their homes through digital adaptation, but real estate and escrow companies can mitigate the risks that might be present now. An example of health risks includes the COVID-19 pandemic, among other diseases that can be transmitted through close contact.
5. Form the Right Partnerships
An ESSENTIAL for real estate agents is to find a professional partnership with mutual value-added. Having the right partnership will help you get more exposure and more clients in the long term.
Partnering with an escrow company can be beneficial if the escrow company provides you with value. A partnership goes beyond selling.
On the other hand, some houses only have the sign for a few weeks or even days. Does it all depend on the demand for houses? The answer to that question is a maybe.
Many times, the successful sale of a home is dependent on the real estate agent and how efficient they are at their job. In this article, we are going to provide 4 realtor tips to follow to sell a property fast, but let’s start by understanding why real estate agents fail.
With so many realtors in the market, not all of them can be the best in the field. There are several real estate agents that do not follow the best practices and realtor tips to sell a home successfully. In fact, most real estate agents fail within their first year of practice.
Here are 5 real estate tips to help you sell fast!
1. Know Your Real Estate Terms
Not sure where you stand in your real estate terminology?
One example of this is a reverse mortgage, also known as the Home Equity Conversion Mortgage (HECM). According to All Reverse Mortgage, a reverse mortgage is a loan where borrowers are not required to make regular payments for as long as they live in the home as their primary residence. These payments are done via principal or interest.
Tenancy in common refers to joint ownership on a single-family or commercial property. With so many terms in the real estate world, be sure you’re brushed up on your definitions!
2. Give the Property a Makeover!
One of the real estate agent’s priorities should be to give the property amakeover.
Think about it. Who wants to buy a home that looks rundown? Only house flippers or a buyer that wants to knock down the property would be interested. Your list of possible buyers is reduced significantly.
Nevertheless, you should always keep in mind the added costs of making repairs. Therefore, only fix things that absolutely need fixing and would add value to the possible buyers.
For instance, if there are issues such as termites, mold, or a roof that’s about to fall... fix them immediately! To find out what needs to be repaired, conduct a pre-inspection on the property and decide what needs repair as soon as possible.
In addition to repairs, as a real estate agent, you are responsible for hiring someone to stage the house for buyers.
When a prospect walks into a house, they want to imagine what it would be like living there. Therefore, it is essential to stage the house with furniture, decorations, and other items that make it seem like someone lives there.
Don’t forget to clean and declutter as well, but do NOT store all items in closets and pantries. Many buyers said that ample storage was extremely important or very important. You don’t want to deter a possible buyer from buying the property simply because the storage looked cluttered and gave the illusion it’s small.
Many realtors rent storage rooms and use staging companies that can provide furniture and/or decorations to stage the house.
3. Get the Price Right
Homeowners do not want to leave any money on the table. As their real estate agent, you might think that the higher the price they set, the higher your commission is. This is not necessarily true.
Make sure to research comparable home values in the neighborhood and surrounding areas, and will probably have an estimate of how much the house you’re selling is worth.
An overpriced home usually stays in the market for a lot longer. Furthermore, if the price is lowered, prospective buyers might think there is something wrong with it and deter from even looking at it.
4. Adapt to the Digital World
The COVID-19 pandemic accelerated the upwards trend of companies adapting their business model to one that involves digital exposure and sales. Real estate companies are no exception to this.
There are a number of things you can do as a real estate agent to improve the house’s online presence. For instance, you can hire professional photographers to take candid pictures of the property and upload them to multiple social media platforms or listing web pages.
On top of professional pictures, 3D tours are becoming an essential part of the home buying experience. A 3D tour allows potential buyers to get the online experience to match as close as possible the in-person experience. This gives them a better idea of the dimensions, direction, and overall floor plan of the house.
Not only do potential buyers get the home buying experience from the comfort of their homes through digital adaptation, but real estate and escrow companies can mitigate the risks that might be present now. An example of health risks includes the COVID-19 pandemic, among other diseases that can be transmitted through close contact.
5. Form the Right Partnerships
An ESSENTIAL for real estate agents is to find a professional partnership with mutual value-added. Having the right partnership will help you get more exposure and more clients in the long term.
Partnering with an escrow company can be beneficial if the escrow company provides you with value. A partnership goes beyond selling.
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