4 Top Tips for How Smoothly Manage the Process of Selling Real Estate During Life Changes
Life decisions – big or small, marriage or divorce, employment or retirement, children, inheritance, or something else – greatly affect our lives, especially if we include the sale of real estate (homes) in all of this. Selling real estate itself can be emotional, if it is accompanied by some other situation, the whole "journey" is usually quite stressful.
Whether you need to sell quickly or you’re really not in a hurry because you want to increase the value of the property, you should still have a little knowledge on how to do it effectively with as little wasted nerves and money as possible.
You can always hire experts, but if you're not sure about that move, we've got some tips and tricks for how to plan and manage the entire sales process most effectively and achieve the best possible outcome.
Assess Your Situation and Set Clear Goals
First – let's be realistic. Assess your situation, reasons for selling, and financial situation to help you set a clear and achievable goal. The better you understand your needs and limitations, the easier it will be to make a plan.
Like everything else starts, so we’ll start from – you guessed it – money. Think about your current financial situation and whether you want to sell quickly or if you have time to wait for "the right one" (we mean an offer for a house). And set a time limit for yourself because this can affect some decisions you have to make like the final price or investment.
When creating the sales price, be realistic so as not to turn away potential buyers with too high of a price. You can do a bit of research on the local market and properties similar to yours or look for a professional property valuation offered by appraisers or cash home buyers like A-list properties.
In the end, decide what you will do with the money you receive – buy another property, invest in a business, or something else. A clear goal will help you to be persistent in achieving it and making decisions.
Work with Professionals You Trust
If it seems to you that there is still too much information and everything for you to be able to devote yourself completely to the sales process, leave it in the hands of professionals. Real estate agents will save you both time and nerves, so choose the right one for you who can handle your situation. A good agent will recognize what kind of approach is needed in your situation and will research the legal aspects and the state of the market very well. However, agents will need to prove themselves most in their negotiation skills to justify your trust.
If the situation is a bit more legally complicated, talk to the agents about getting a lawyer or legal counsel involved so that possible legal tangles can be properly resolved. And agents can also help you with choosing a contractor (if you decide to do so) or with advice on what to do and what not to do to improve your property.
Prepare the Property for Sale
Now let’s get down to the visible steps. Preparing your property for sale may sound strange, but even small changes can make a big difference to the impression you make on potential buyers.
Home staging dates back to the 1970s and started with simple furnishing of one room, and today it has developed into a real art to make the home more attractive to potential buyers and lead to faster sales and higher offers.
Start by removing clutter and unnecessary items from the space and depersonalizing it. What does that even mean? You should remove personal photos and personal items to create a more neutral environment so that future owners can imagine their belongings and themselves in the space.
If necessary, fix any imperfections like a leaky faucet or damaged floors, windows, etc. Add new lighting and freshen up the paint to increase curb appeal and give the home a more well-maintained feel. If some major repairs are needed, such as replacing the roof or installations, consider whether it is worth investing, especially in cases where you are limited by time or budget.
Some buyers even prefer to do the major repairs themselves to make sure they’re done right.
Prepare Yourself for Unexpected Challenges
You know how it goes – even with the most detailed planning, unexpected circumstances can always arise. Get ahead of them and prepare yourself to solve them as easily as possible. Usually, there can be a delay or delay in the closing of the sale, problems with the buyer's finances, or some last-minute repair requests. Try to be as flexible as possible with the time and be open to negotiations to achieve your goal.
Keeping in mind that these things can happen already greatly reduces your stress because you have potentially anticipated it. Communicate regularly with your agents and experts to resolve misunderstandings as quickly as possible.
Conclusion
Selling real estate, especially if it's a family home, can be emotionally difficult for even the hardest of hearts. Be sure you want to sell. And this is the moment when you need to bite down and gather your emotions.
Go through the entire selling process with a cool head and a clearly defined goal. If you still need help from the side, you can always rely on real estate agents and experts to accompany you through the process.
Prepare your property, keep a cool head, and be patient – this can be your fresh start.
