Whether you want to flip your house to buy a newer home or you are into the real estate business, you want to close your deals quickly.
Most home sellers in Memphis struggle with disposing of their homes because they over-price them, fail to know the peak selling times, or perhaps employ poor advertising methods and wasteful house reselling agencies.
Here are some of the tips for selling your house in Memphis.
1. Price it right: Over-priced homes stay for longer without selling obviously because customers looking for houses to buy in Memphis will find better rates.
If the house requires repairs, you might need to sell at below the market rate to close your deals in time. You also need to be aware of the state of the neighborhood as well as the value of other homes around.
Because customers do their own research with neighborhood homes for reselling, it is difficult to close a deal quickly on an overpriced home.
2. Understand the peak and off-peak selling times: The beginning of winter is probably the time when you shouldn’t post home ads because people are too busy with holidays.
You should target to sell or resell your home at the beginning of summer unless you are eyeing unseasonable clientele companies that buy at any time because they will price down the house.
While there is nothing wrong with trying to sell the house during the off-peak season, it may take longer to close the deal than when selling during the peak season.
Additionally, most home buyers in Memphis today want to take advantage of the house supply situation by targeting to buy houses during the off-peak season or when there are too many people selling homes at a certain area or location.
3. Move-in ready homes will sell faster: Many Memphis homeowners do not want to spend time or even money on extensive repairs without moving into the house. You might consider raising the value of your home by reconditioning and renovating it before selling.
If you already live in the house, consider moving out. Otherwise, it makes it difficult for potential clients to do physical walkthroughs when checking the house. Most will not buy unless they do so.
4. Research on the most important issues: In addition to verifying information with lien holders and mortgage companies that nothing will stop the sale, make sure to confirm the market value and demand of houses.
5. Emphasize the quality as much as the first impressions: The external appeal of the house matters because it will determine the first impressions by the potential client. Therefore, make sure the sod, garden, and external walls and features are impressive.
Never supplement first impressions for internal quality because customers will end up assessing the house and making their decisions on both of these factors. Many people will do renovations for every room after moving out of the house they want to flip.
6. Advertise the house: Real estate agents in Memphis are not always helpful. Many end up wasting your time and money by doing nothing beyond posting ads for potential buyers and charging a lot for it.
Ideally, never spend money on useless ads around the place you want to rent your home because many customers already detest this behavior. Many times such ads are too intrusive and not done by people who understand even the basics of advertising.
If you want to advertise your home the right way, you can actually do the work of posting your ads yourself on social media or hiring one person to do so instead of committing to an agency or simply commit many other professional reseller companies.
Many real estate agents offer advertising services as part of their operations. Since they depend on commissions, they want a house to sell faster and therefore, pay for the advertising on their own.
Part of the advertising also includes staging the property. Staging a house in Memphis will help potential buyers to visualize living in the home before they can even purchase it.
If done appropriately, then staging can help save on the costs of making alterations on the home to change the look and feel.