Addie Finley's Blog
The home selling trends for 2020 are predicted to skew toward the millennial generation given the most recent statistics of age demographics. While the exact definition of millennial varies, the term usually refers to anyone born between 1980 and 2000 (give or take a few years in either direction).
Given the relatively large time span of this generation, there's a fairly wide gap when it comes to how they search for homes. We'll give you more information on how home sellers can capitalize on this trend rather than fall victim to it.
Prioritize Your Listing
Millennials aren't usually wandering around their dream neighborhoods just hoping to catch a glimpse of an Open House sign. In fact, chances are they're doing a lot of research online before they even consider hiring a real estate agent.
When more than 80% find their home on a mobile device and nearly 100% find their home through an internet search, you need to have an online listing that really speaks to them. Your photos need to be impeccable and your descriptions need to be chockful of the most popular keywords. You may even want to take some high-quality video footage of the inside and outside of the home.
Bigger Isn't Always Better
Millennials do care about how big the home is, but they may be more interested in how close the home is to a good school system (especially the older millennials). They may be looking for reassurance as to the quality of the neighborhood or how long the standard rush hour will delay them.
If you're planning on doing a little renovating before you put the home up for sale, concentrate on the design flow of the home. For most sellers, it's recommended you put an emphasis on the home's patio, pantry, and garage space as a way to attract more buyers. It's the functionality that millennials are concerned with, which would explain why things like laundry rooms are more exciting to them than a huge master bedroom.
You may also want to invest a little money in your exterior lighting, as it can be a good way to improve both the look and safety of the home. And if you want to keep your price tag down, millennials are besotted with Style on a Budget decorating, giving you a chance to flex your creativity without having to buy spend too much money.
Home sellers can talk with a real estate agent to find out if their home is likely to be coveted by millennials or not. It just helps to know what they're looking for before you start inviting people on the property.
If you plan to sell your home, it often is a good idea to learn about property showings. That way, you can prepare for showings and boost the likelihood of a fast, profitable property selling experience.
Now, let's take a look at three things that sellers need to know about home showings.
1. A showing may make or break the house selling journey.
As a house seller, you only get one chance to make a positive first impression on a potential buyer. And if your home fails to impress a buyer, this individual is likely to move on to other residences.
By taking care of your home, you can make it easy for a buyer to fall in love with your residence during a showing. In fact, completing home maintenance tasks can make a world of difference in the eyes of property buyers.
Mowing the front lawn and trimming the hedges can help you bolster your residence's curb appeal. Meanwhile, removing clutter, vacuuming the rugs and scrubbing the floors enables you to improve your home's interior. And if you perform these home maintenance tasks prior to a showing, you can help a buyer envision what life may be like if he or she purchases your residence.
2. Even an unsuccessful home showing provides a valuable learning opportunity.
If a home showing fails to result in an offer to purchase your home, there is no need to worry. A home seller should view each showing as a learning opportunity and use it to find ways to upgrade his or her residence.
Remember, there is always room for improvement, especially when it comes to differentiating your house in a competitive real estate market. And if you take a buyer's feedback after a showing to heart, you can use this feedback to explore innovative ways to improve the look and feel of your home.
3. A home seller should strive to be flexible with property showing requests.
Ultimately, a seller may receive home showing requests on short notice. And in these instances, it helps to accommodate buyers' requests.
If a seller is willing to temporarily vacate his or her house to accommodate a last-minute showing request, this individual can make it simple for buyers to view the residence without delay. As a result, this seller can show his or her house to many potential buyers to speed up the property selling cycle.
As you get ready to show your residence to buyers, it usually helps to hire a real estate agent. This housing market professional can teach you everything you need to know about the house selling journey and ensure you are fully prepared for any challenges that may come your way. Best of all, a real estate agent will do everything possible to help you promote your residence to dozens of prospective buyers so you can maximize your home sale earnings.
Hire a real estate agent today, and you can start showing your residence to potential buyers.
A buyer's market can challenge even the most diligent home seller. Fortunately, we're here to help you stir up plenty of interest in your house, regardless of the current housing market's conditions.
Now, let's take a look at three tips to help you get ready to sell your residence in a buyer's market.
1. Assess the Housing Market
You know a buyer's market favors homebuyers over home sellers, but you still have no idea how this market operates. Fortunately, if you allocate time and resources to learn about the local real estate sector, you'll be better equipped than ever before to maximize the value of your home.
Take a look at the prices of recently sold houses in your city or town. That way, you can see how long these homes are generally available before they sell. You also can examine the sold prices of these houses to better understand how you should price your residence.
Furthermore, you should assess the prices of available houses in your city or town that are similar to your own. This housing market data can help you establish a competitive price for your residence from day one.
2. Perform a Home Inspection
A home inspection commonly is performed after a seller accepts a buyer's offer on a house. However, if you perform an inspection before you add your residence to a buyer's market, you can take a proactive approach to address various home problems.
During a home inspection, a property expert will examine your residence and detail his or her findings. You then can use the home inspection results to prioritize home improvement projects and upgrade your residence. As a result, you can enhance your house and find ways to differentiate it from the competition.
3. Consult with a Real Estate Agent
Selling a home in a buyer's market is exceedingly difficult, especially for those who choose to work alone. Thankfully, real estate agents are available to guide you along the home selling journey and ensure you can achieve the optimal results.
By hiring a real estate agent, you can receive extensive assistance at each stage of the home selling journey, even in a buyer's market. First, a real estate agent will learn about you and your home, as well as your home selling goals. This housing market professional then will offer recommendations to help you enhance your home and ensure it stands out to potential buyers. Next, a real estate agent will list your residence and host open house events and home showings. And if a buyer submits an offer on your house, a real estate agent will help you review this proposal and make an informed decision.
When it comes to selling a home in a buyer's market, there is no need to worry. Take advantage of the aforementioned tips, and you can separate your residence from the competition and boost the likelihood of a profitable home sale.
Selling a home may seem exceedingly difficult, particularly for a first-time property seller. However, if you receive an offer on your residence that falls just short of your initial expectations, you may be able to negotiate with a homebuyer.
How you handle a negotiation with a homebuyer may dictate how quickly you sell your residence.
If you're unwilling to understand a homebuyer's point of view, you risk missing out on an opportunity to get the best results from your home sale.
On the other hand, if you stay calm throughout a home selling negotiation, you may be better equipped to understand a homebuyer's perspective. This may help you find common ground with a homebuyer and ensure you can speed up the home selling cycle.
What does it take to remain calm during a home selling negotiation? Here are three tips to help home sellers maintain their composure throughout a negotiation.
1. Keep Your Emotions in Check
A home selling negotiation can be stressful. But home sellers who manage to keep their emotions in check can boost their chances of a quick home sale.
If you feel stressed during a home selling negotiation, don't hesitate to take a step back and look at the big picture.
Remember, your ultimate goal is to sell your residence. With the lines of communication open, you and a homebuyer can work together to ensure all parties involved in a negotiation are satisfied with the end results.
2. Look at All of the Options at Your Disposal
If a home selling negotiation goes south, there is no need to panic. Instead, consider all of the options at your disposal, and you'll be able to determine how to proceed from here.
For home sellers, it is essential to note that many homebuyers are on the lookout for high-quality residences in cities and towns around the country. Thus, if a negotiation with a homebuyer fails to work out, you can continue to promote your house on the real estate market.
3. Work with a Real Estate Agent
A real estate agent is a must-have for many home sellers, and for good reason. This housing market professional will handle a home selling negotiation and ensure you can seamlessly navigate the entire home selling journey.
Typically, a real estate agent can negotiate with a homebuyer on your behalf. He or she will keep you up to date about any homebuyer requests and offer honest, unbiased home selling suggestions. As a result, you can receive expert home selling guidance and make informed decisions at each stage of a home selling negotiation.
A real estate agent also will respond to your home selling concerns and questions at any time. That way, this housing market professional will make it simple for you to alleviate stress in a high-pressure home selling negotiation.
When it comes to handling a home selling negotiation, there is no need to worry. Take advantage of the aforementioned tips, and you should have no trouble remaining calm, cool and collected during a negotiation with a homebuyer.
Believe it or not, a home listing may make or break your ability to sell your residence. If your initial home listing fails to stir up interest from property buyers, there is no need to stress. In fact, there are many quick, easy ways to bolster a house listing.
Now, let's take a look at three tips to help you transform an ordinary home listing into an exceptional one.
1. Include High-Quality Home Images
High-quality images that showcase your home's kitchen, bathrooms and other areas could help you differentiate your residence from other available properties. Perhaps most important, these images may make it easy for property buyers to fall in love with your house – something that could lead to many home showings in the near future.
If you plan to take photographs for a home listing, it is important to clean your residence and remove clutter in advance. That way, you can use images to showcase the true size and beauty of your house.
Also, if you need help with photographing your house, you may want to hire a real estate photographer. This professional can help you capture top-notch images of your home that you can instantly incorporate into your house listing.
2. Provide Accurate Information About Your Home
A home is a major investment, and as such, you should strive to provide buyers with as much information as possible about your residence. By doing so, you can make it simple for a buyer to determine whether your residence is the right choice.
Oftentimes, it helps to include room measurements, information about recent home upgrades and other relevant details about your residence in a property listing. Consider the buyer's perspective, and you may be better equipped than ever before to include home details that could help you differentiate your residence from the competition.
3. Be Honest with Property Buyers
There is no need to stretch the truth in a home listing, and doing so may do more harm than good as you try to sell your house. Instead, be honest, and you can craft an effective house listing that hits the mark with the right groups of buyers.
Lastly, as you search for ways to improve your home listing, you may want to collaborate with a real estate agent. This housing market professional will help you navigate all stages of the property selling journey and ensure you can achieve your desired home selling results.
A real estate agent will learn about you and your home and help you put together an engaging and informative house listing. Then, he or she will host home showings and open house events. And if you receive an offer to purchase your home, a real estate agent will help you review this proposal and determine the best course of action.
Eliminate the guesswork associated with preparing an effective home listing and other property selling tasks – hire a real estate agent today, and you can get the help you need to streamline the home selling journey.