The rebound in U.S. home values over the past couple of years has placed many homeowners in a better position to sell their home for a profit. Still, getting a home sold can be challenging, even in markets where tight supply favors sellers. How do you get your home sold for the best price? We consulted with Daniel Villarreal of Berkshire Hathaway to get the answers.
First of all, study the market. Most homeowners enlist the services of a real estate agent to market their home and perform a variety of tasks, including reaching out to a network of buyers’ agents, preparing the home for viewing and dealing directly with prospective buyers. Look up what similar homes have sold for in the last 30 to 60 days and how long they’ve been on the market. You can also see whether those homes sold for less or more than their initial asking price.
Some sellers may be tempted to press their agent to list their home well above comparable sales, while others may want to briefly test the market with a high price only to relist the home later. However, this strategy can backfire – the longer a property stays on the market, the more it becomes stale, and it’s very hard to garner momentum once a property is stale.
When it comes to selling your home, the ideal agent should be an expert on your neighborhood. This knowledge will put them in position to know which transactions might be in the works but not yet available on public records — key to gauging how to price your home.
Daniel Villarreal is a member of Berkshire Hathaway you can contact him at http://www.bhhscalifornia.com/realestateagent/danielvillarreal/5315. Email [email protected] or call (626) 394-1040.
