Are you planning to sell your house fast? Now is the time to take advantage of the
Austin real estate market and list your home for sale. A
recent study reveals that the Austin housing market is the second most overpriced in the USA. Homebuyers in the area are paying much more than other home buyers in the neighboring states.
Selling a home in the city could be a daunting task for homeowners as mortgage rates and housing prices are going up. You need to price your home competitively and work with a professional Austin real estate agent to increase your chances of selling your home for a fortune. They will help you market your home to the best possible buyers and compare your listing to past or other current listings in the area.
Continue reading as Lesli Ray guides you on how to sell your home in Austin.
Explore the housing market
Exploring the current market is the first thing any homeowner should do before starting your home selling process. This will help you restructure and give you an advantage when dealing with buyers and agents.
Another important thing is for you to get an accurate valuation of your property. This will enable you to get varied opinions on its value. Ensure your real estate agent carries out competitive market analysis (CMA).
While exploring, there are other specific things you need to consider.
Market type
Some factors make a home more appealing to a buyer. Is your market area a seller's or buyer's market? Market type is one of the things that will impact your sales approach. Since you're moving and selling your home simultaneously, a buyers' market will give you some advantages. Luckily, sellers will be eager to sell, giving you more leeway to negotiate a fair rate. But, the seller's market offers the most significant advantage to homeowners. Factors like high demand and low inventory contribute to it. Housing prices are usually higher while time on the market is down in a seller's market.
Price
What are the average rates of houses in your area? Research similar homes and consider the condition of the house and age, the specific neighborhood, and amenities such as banks, restaurants, and schools. Use the price per square foot of recently sold houses similar to yours to estimate your home's value.
Time on market
Another important consideration is the time on the market for houses in your neighborhood. This refers to the duration it takes to list a home for sale before selling it. Knowing this will help you to better prepare ahead.
Get an appraisal
You can swap a few suggestion orders, but getting enough information about the property you're selling is better. An agent can assist you in the selling process by determining the price of your home, but you need to have hard facts ahead of time. That will help speed up the sale of your home by reducing stress off your agent and also give you an advantage with buyers.
Appraising your home gives you an idea of the price to sell your home. This information will help buyers pre-approved for a loan since they will know the exact price to budget.
Conduct a pre-listing inspection
Would you want an unsuccessful deal because of significant issues with your home? Conducting a
pre-listing inspection is the only way to avert such an occurrence. It will help you handle extensive repairs before listing your home. Doing this kind of inspection will lessen the house-buying negotiation process as buyers will know the property's condition. Also, it gives you a competitive edge when promoting it during listing as buyers are assured of comfort.
Get the right agent
Note that maximizing profits on a house sale demands more than correct market timing. Ensure you're doing all you can to get a fair deal. No matter how much you love your property, the main goal is to get maximum profits.
Having an experienced real estate agent is necessary for getting an optimal outcome. Real estate agents are licensed professionals and can offer valuable knowledge of your area, market conditions, and price guidance. They serve as middlemen who negotiate with prospective buyers, putting a significant amount of strain off the entire process.
A professional real estate agent can realize the highest return on the sale of your home and limit the number of days your home stays on the market. Also, they will educate you on all the terms, paperwork, and processes involved in selling your home.
That way, you'll have peace of mind knowing that a licensed and trained professional handles all the details of your home sale. Most importantly, your real estate agent will give you regular market information updates to enable you to make well-informed decisions.
Make impactful renovations and repairs
The next thing you would want to do after conducting a pre-listing inspection is conduct repairs if there are any. By this time, you already know what to fix and forego. Your agent can also help you to decide on the appropriate repairs that will give you more value for your money. Find out from your agent what repairs will boost the home value and what repairs, if ignored, will not affect the selling price.
Completing the necessary renovations and repairs will make your home more appealing to potential buyers. After all, you wouldn't want to buy something that has issues. Austin residents usually care about the outside appeal a home offers.
Carry out any sprinkler, roof, or landscaping repairs on time since they can consume considerable time. Think of doing these repairs during winter since they're economical during that season due to the drop in demand for repair merchants.
Keep in mind that the aim of repairing your property is to make money. So you need to understand that the renovation will add more value to your property than it is worth. Besides, completing repairs on time speeds up the closing process, putting much stress off home inspectors.
Be a bold seller
Follow the below guidelines:
- Market your home: Marketing is an integral part of attracting a buyer. Take high-resolution pictures of your property if you intend to list your home through an agent. After that, post them to take prospective buyers on a virtual home tour.
Ensure you use popular home marketing websites, social media, local ads, and referral marketing. If you're using social media for marketing, highlight your home's attractive features with explicit videos and images.
If you want to DIY, you can enter the best home buyer's site. Even if someone shows interest, it doesn't end there. Continue marketing until you sell the house.
Also, you can emphasize how fantastic the neighborhood is along with nearby destinations. While marketing, you can mention the perfect outdoor space and work commute distances to attract buyers.
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Ensure buyers are eligible – If a lender doesn't pre-qualify your buyer, you don't need to consider their offer.
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Disclose the necessary things – You should not hide information about your property as people hate surprises when buying a property. Reveal the essential information to buyers so as to avoid issues.
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Ensure you complete all contracts – Go through contracts and offers thoroughly and seek an explanation from your agent if you don't understand. Check to ensure you have all the documents needed to sell a house. This includes land surveys, warranty documents, permits you got for past renovations or remodeling projects, tax and utility bills, and your mortgage payoff amount. Requesting these documents may take you time if you can't find them. So, it's better to start this process on time.
Have your home staged
If you intend to list your home, consider getting it staged. This makes them spend less time in the market and sell for more. Stagedhome.com reveals that a staged home will average six days on the market, while those that are not staged remain on the market for an average of about 48 days. Hiring a professional will enable you to experience the benefits of staging as they will handle all the work for you.
Get the house ready for sale
Besides making repairs and renovations, there are other things you can do to get your house market-ready for sale.
Thoroughly declutter your home since you've lived there for several years and must have accumulated some clutters. Potential buyers won't find a cluttered home appealing. Inspect each space and remove anything that isn't used or consuming space.
Depersonalize and neutralize all spaces in your home. Don't allow your lifestyle and personal taste to affect your potential buyers. This can prevent them from building a connection with the environment and could be a turn-off.
Repainting the walls and exteriors with universal and neutral colors, keeping all walkways clean, and pruning the garden can make your property accessible to many buyers. Ensure you keep your toilets, kitchen, and bedroom clean. Arrange the furniture well to fit each space.
Do you want to take advantage of the Austin Luxury real estate market and get the best deal for your home? It's best to work with a professional Austin real estate agent. If you're ready to get started, contact
Lesli Ray for guidance and expertise.
