{"id":2675,"date":"2022-12-26T10:00:00","date_gmt":"2022-12-26T15:00:00","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=2675"},"modified":"2024-04-25T23:18:11","modified_gmt":"2024-04-26T03:18:11","slug":"new-years-resolution-sell-my-home","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/new-years-resolution-sell-my-home\/","title":{"rendered":"New Year\u2019s Resolution: Sell My Home!"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Is a real estate move among your New Year\u2019s resolutions? If so, there are some advantages in selling early in the year.<\/p>\n\n\n\n

But whenever you do it, successful selling is an art. Here are a few tips to create the perfect mindset.<\/p>\n\n\n\n\n\n\n\n

Tip 1. Get Excited.<\/h2>\n\n\n\n

If you\u2019re selling your home in the New Year, you\u2019re already poised to beat the Spring rush. If you\u2019re excited to plan now, you can hit the New Year\u2019s market running.<\/p>\n\n\n\n

Get ready to list with the Multiple Listing Service. Give your home early online visibility, before the competition swells. Psyche yourself up for showing your home to early bird buyers!<\/p>\n\n\n\n

Check out home tours online, and be inspired to create your own. Engage as many viewers as you can. Keep your eyes on the prize: a nice return on your investment.<\/p>\n\n\n\n

Celebrate your good timing!<\/p>\n\n\n\n

Tip 2. Connect With Your Agent ASAP.<\/p>\n\n\n\n

An experienced agent in your area can bring wisdom to your planning and let you know what to touch up to maximize your return (and what to skip). Local agents might be underbooked in January and February \u2014 an advantage for the early seller, who can talk in depth with a number of real estate agents before picking one. Ask every recent buyer you know for recommendations. Check the agents\u2019 credentials, and read their clients\u2019 reviews online.<\/p>\n\n\n\n

What should you ask an agent when you\u2019re deciding? Ask about the terms of your agent-client agreement, ideas for marketing, how the agents tackle negotiations, how you would keep in touch with each other, and if these agents are representing competing clients. Hoping the same agent can help you sell your home and buy another? Ask if the agent will offer any kind of bundling credit \u2014 .5% or 1%, perhaps \u2014 to reduce the costs and fees of two closings.<\/p>\n\n\n\n

Also, discuss staging. It\u2019s not necessary, but it helps. The National Association of REALTORS\u00ae says staging a home for sale can add around 20% to the selling price!  <\/p>\n\n\n\n

Of course, find someone with an upbeat attitude. That\u2019s important for a negotiator. Above all, the question to keep in mind is: Will this agent work hard for me?<\/em><\/p>\n\n\n\n

Tip 3. Think Like a Buyer.<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Imagine how a potential buyer will feel when walking into your home.<\/p>\n\n\n\n

Begin with the outside. Tidy the yard. Trim the hedges and trees. Power-wash the outer walls. Paint the shutters, any exterior window frames, and the mailbox.<\/p>\n\n\n\n

Then, start on the interior. To get your home looking more spacious, declutter. Remove the personal things, so the buyers can imagine your home as theirs.  <\/p>\n\n\n\n

As you work, put together a to-do list. Things like renting storage space, painting your walls in light, gentle tones, replacing shades and switches and switch coverings, and faucets and other old hardware, addressing cracked flooring. Deal with issues that will arise in the home inspection \u2014 systems needing repair, or safety or structural concerns.<\/p>\n\n\n\n

\u261b<\/em> Agencies with <\/em><\/strong>concierge services<\/em><\/strong><\/a> can suggest renovations a buyer will actually pay for. These services can even include heavy-duty items like plumbing, outlet replacements, new HVAC systems, or roof repairs.<\/em><\/strong><\/p>\n\n\n\n

Doing your own renovations? Speak with an agent first. Upgrades such as new closets, flooring, and appliances can make sense. Yet making your home worthy of House Beautiful<\/em> might not be the best strategy.<\/p>\n\n\n\n

Why? Upgrades aren\u2019t cheap. Will you earn your costs back in the sale? Maybe it\u2019s better to cut the home price instead? After all, many buyers will want to do their own work on the home to suit their preferences.  <\/p>\n\n\n\n

Tip 4. Calculate Costs and Timing.<\/h2>\n\n\n\n

In addition to the 5 or 6% in agent commissions, you\u2019ll likely be covering some repairs, plus your closing costs. Expect to pay about 10% of your sale price on the costs of selling.<\/p>\n\n\n\n

Will you need to move first, sell later? Then you might need hotel or rental funds.<\/p>\n\n\n\n

Alternatively, if you live in the home while showing it and hunting for your next home, now is the moment to learn the ins and outs of virtual tours<\/a>. Good visual recording skills will help you show the home effectively, without making lots of in-person appointments.  <\/p>\n\n\n\n

Some sellers make their sale contingent on an agreement to purchase another home. Others sell first and then buy, so they aren\u2019t trying to handle two mortgages during the selling period. Holding two mortgages is difficult even for people with the funds to afford it. Get a mortgage specialist on your side to help you review your finances and guide you through the transition. Ask about bridge loans. They can cover several mortgage payments by advancing some of your present home equity, so you\u2019re better positioned to purchase while still marketing your home. After your home sells, you can take care of the debt.<\/p>\n\n\n\n

\u261b <\/em><\/strong>Learn more about the right moves to make <\/em><\/strong>when your next home purchase depends on selling your present home<\/em><\/strong><\/a>.<\/em><\/strong><\/p>\n\n\n\n

Maybe a buyer will make you an offer contingent on their <\/em>place being sold. Should you agree? If a different bidder shows up, one who\u2019s willing to buy without that contingency, that other person might represent the better agreement, even if the price they bid for your home is lower. Speaking of which\u2026<\/p>\n\n\n\n

Tip 5. Set a Fair and Realistic Price.<\/h2>\n\n\n\n

You\u2019ll need to establish the fair market value for your home. It\u2019s that Goldilocks number: not too pricey, and not too low. If you set your price too high, it could sit on the market longer than you\u2019d like. A listing that\u2019s available too long makes the home seem less appealing to potential buyers.<\/p>\n\n\n\n

But setting a low price right from the start can mean missing potential profits.<\/p>\n\n\n\n

\u261b <\/em><\/strong>When will you know it\u2019s <\/em><\/strong>time to reduce your asking price? Here are some points to ponder<\/em><\/strong><\/a>.<\/em><\/strong><\/p>\n\n\n\n

Get a feel for what other homes are selling for nearby. Compare and contrast all the elements in their descriptions and images with your own home\u2019s features. Your agent will have more insight into how those local comps help you set a \u201cjust right\u201d list price.<\/p>\n\n\n\n

Go Get \u2018Em!<\/h2>\n\n\n\n

Chances are, you have built up some impressive home equity over the 2020-2022 rise in property values. If so, you can sell at a profit. Having a home to sell is a great advantage for those looking to buy in the pricey market we\u2019re in today.<\/p>\n\n\n\n

Of course, we offer these tips simply as general information and inspiration. They are not meant to be taken as situation-specific advice. The best practice is to select a communicative, supportive agent you can sit down with and discuss your needs and goals. Your local agent will have more tips \u2014 tailored to your home, and your future plans.<\/p>\n\n\n\n

We wish you a prosperous 2023, and the greatest possible success as you find the right buyer for your home. Happy New Year!<\/p>\n\n\n\n

Supporting References<\/strong><\/p>\n\n\n\n

Gina DeMillo Wagner, Opendoor Brokerage Inc., via Opendoor.com<\/em>: Mistakes to Avoid When Selling Your Home<\/a> (Nov. 29, 2022).<\/p>\n\n\n\n

Deeds.com: <\/em>Pulling It Off \u2013 How to Sell Your Current Home While Buying the Next One<\/a> (Feb. 2, 2121).<\/p>\n\n\n\n

Andy Williams of Office Road Real Estate, via LinkedIn.com<\/em>: \u00a0Preparing to Sell Your Home in the New Year<\/a> (Nov. 23, 2020).<\/p>\n\n\n\n

And as linked.<\/p>\n\n\n\n

Photo credits: Cottonbro Studio<\/a> and Hu\u1ef3nh \u0110\u1ea1t<\/a>, via Pexels.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is a real estate move among your New Year\u2019s resolutions? If so, there are some advantages in selling early in the year. But whenever you do it, successful selling is an art. Here are a few tips to create the perfect mindset.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-2675","post","type-post","status-publish","format-standard","hentry","category-general"],"yoast_head":"\nNew Year\u2019s Resolution: Sell My Home! - Deeds.com<\/title>\n<meta name=\"description\" content=\"Is a real estate move among your New Year\u2019s resolutions? If so, there are some advantages in selling early in the year. 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