What to Do Before Selling Your Home
Thinking of moving to a new city, or considering a move to a new neighborhood? Or perhaps you’re just considering downsizing to save space and enjoy a more manageable living area? With low interest rates, high potential to make a handsome profit, high demand for homes, and a significant number of buyers, there’s no better time than now to consider selling. Before you officially list your home, here are a few things to consider.
Know the Market
Before listing your home for sale, it’s important to understand whether or not you are living in a buyer’s market or a seller’s market, as this will impact what you can expect to sell your home for, among other factors. As of 2020, Memphis is still very much a seller’s market, which is great news if you’re planning to sell.
What is a seller’s market?
In a seller’s market, there are fewer homes available than potential home buyers, meaning the sellers can expect higher offers, have more negotiating power, and are generally able to expect reasonable and competitive offers within the first few days or weeks of listing a home.
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Have Realistic Expectations
Even if you plan on selling your home in a seller’s market, it’s ideal to approach the process with an open mind and realistic expectations. While there are homeowners who are receiving offers on the same day their home hits the market, that doesn’t necessarily mean you can expect the same. Even if your home is lovingly cared for, reasonably priced, and conveniently located, there’s simply no way of knowing how many potential buyers are seeking out homes in your area at any given time.
Consider Curb Appeal
Considering selling your home? Then consider curb appeal. If you’re serious about selling your home, now is the time to make any necessary repairs and renovations, since it can significantly impact your home’s value and therefore your home’s listing price. If there are minor updates you can make, it's better to do so before an inspection and appraisal if possible. If your budget allows room for new landscaping or exterior paint, it’s ideal to make those improvements as well, since the exterior appearance of your home can also draw in more potential buyers.
Speak with a Lender
While your realtor works with you to list your current home, he or she can also help you find your next one. If you’re hoping to purchase a new home in the process of selling your current one, we recommend speaking with a lender who can pre-approve you for a home loan and give you a realistic idea of how much you can afford and what neighborhoods and price ranges you should be considering.
Contact a Realtor
When you’re ready to list, find a reputable and experienced real estate agent who can utilize the resources at their disposal to get your home in front of as many potential buyers as possible. A reputable real estate agent will utilize a variety of resources to maximize your earning potential. Here are a few things to look for:
An Agent Working with an Established and Respected Local Firm
It’s always ideal to work with an agent who is working with a well-known, local real estate agency. A local agent has contacts in the local market and is likely more familiar with the area than outside agents. There are a handful of established real estate agencies in Memphis, including Sowell Realtors, who specialize in real estate services for homeowners looking to buy or sell their home.
An Agent Using Technology to His or Her (and Your) Advantage
One of the advantages of working with an agent and an agency with years of experience is that those who have been in the real estate market for a significant amount of time know how to use technology to their advantage. At Sowell, we utilize social media and third party real estate listing services like Realtor, Trulia, and Zillow, and as a result, our listings are able to reach more potential buyers and buyers’ agents than listings not being marketed effectively. At Sowell, we also utilize the services of professional photographers who can make your home as beautiful online as it is in person.
An Agent with Connections
Another perk of working with a Realtor who is a member of an established real estate agency like Sowell Realtors is the opportunity to work with an individual who can use word of mouth to efficiently market your home.
The Importance of Connections
Did you know that some homes receive offers without even being listed on the market? That’s because agents communicate with one another on what their buyers are looking for. If you want to sell your home quickly and efficiently, choose an agent who is part of a team of experienced brokers and agents who can network and market their listings.
Sowell Realtors: Experienced Realtors in Memphis, TN
Ready to sell your home? Connect with a member of our team today to get started! We’ll schedule an appointment to discuss any questions you have and work with you to sell your home as soon as possible.
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