House selling has always been a good business experience for many owners. Despite being time-consuming and costly to sell, buyers are still willing to check, and sellers are more than ready to present.
As sellers, we should be knowledgeable of the tools of the trade and know-how to achieve a good sale for your house as-is. In this article, we will be pointing out ways to make your property more attractive and profitable using tips from real estate professionals, as well as points not to do when selling.
Set Expectations, Look for Opportunity
Selling houses as-is is selling them with minimum repairs and maintenance. They are livable but come with certain issues that the new owner has to take care of once bought. As a seller, your price should be on par with the usual market prices so it won’t come off as too expensive or too cheap. One good tip is to compare prices to online communities or get an appraiser for a price estimate plus expenses.
Additionally, it is important to see this as an opportunity. Most buyers tend to prefer it over newly made ones. With your attractive selling price, there’s no doubt you’ll be meeting with various clients from time to time.
Minimal Repairs and Repainting
While we sell houses in their current state, it wouldn’t hurt to spend an extra couple of bucks doing simple repairs on pipes, door hinges, roofing, or insulation. The purpose of this is to make your house at least livable and safe. By repairing essential parts of the houses, people are more interested in buying your property as all they have to worry about are some minor repairs once the title is passed.
Unless you are skillful in minor house repairs, be extra mindful in hiring a professional to do the repairs. They are still business expenses that would hurt your profit slightly, especially with careless repairs, so make sure you would still gain growth despite the additional costs.
On the other hand, repainting your houses is also a good choice. While it’s not a requirement to do so, it adds to the overall first impression and makes it look fresh from the client’s eyes. First impressions are so critical that it might even dictate whether the client buys the house or not. Hence, make sure you invest in having the best first impression.
Advertise and Market Your house Property
Advertisements have come a long way in helping sellers reach potential buyers, and modern times require modern tools to market your house. Online communities and social media are the best sites to find and attract potential clients to your property.
Engage yourself and be active in online communities and advertise your property to people. It would also be helpful to be connected with buyer-seller groups to get a client faster. Additionally, virtual visits are becoming a trend due to the recent pandemic. Use this to your advantage and invest in getting high-resolution photos or well-directed video presentations.
Know Your Clients
A faster way to get your houses sold is to choose the correct buyer. Aside from house buyers, companies and wholesalers would also come in contact with you. There are various reasons for buying your property. Companies might find it useful to repurpose it as an office, or wholesalers might purchase it to sell again under their banner.
Whatever the reason is, always offer an open mind in discussing a contract with you.
Hiring Real Estate Agents
Real estate agents are professionals in assessing houses and finding clients. These agents do all work starting from the marketing, sales, and legal documents needed to earn a sale. You can potentially earn money without doing any work. Getting an agent is worth it and best suited for first time sellers on the market.
Although, take note that they demand a commission, and it is usually five percent of the overall sale. Regardless, if you lack the knowledge or time to do all the work, let an agent do it for you.
Honesty is one value all sellers should integrate within themselves when they sell to a client. In this kind of business, you are legally obligated to disclose all issues the houses have. From leaks, short circuits, and peelings, sellers should be honest and not provide false information to the client. Doing so is a crime, and you’ll be held accountable for that.
Selling houses takes a lot of effort, patience, and money. Hence, thorough research and preparation are essential before stepping into this market to guide you through the right business choices and earn a profit. Additionally, do not forget to have integrity and honesty above all else since, to many buyers, a house is a hefty investment.