Getting the best offer is the goal of everyone preparing to put a home on the market, and one of the first steps a person should take is to hire a Realtor.
That person will help determine the best ways to maximize a home’s value to help it sell quickly and for the best price, said Realtor Skip Adamson with Seaside Realty.
Many criteria, that go beyond what a seller thinks his or her property is worth, contribute to the value of a home, he said. Comparable sales, the cost to reproduce, the state of the economy and time of year are factors that can affect offers for a home.
Tasks that can help a person sell their home include having any clutter removed, hiring an interior designer to stage the home, painting the interior with neutral colors, and creating a good first impression by having the exterior of the home landscaped.
A Realtor can help with recommendations on how to prepare a home before it goes on the market. They have knowledge of comparable sales, current market conditions and can recommend pricing with either the seller or buyer during negotiations.
“Ultimately, the seller decides on the price of the property,” Adamson said.
Potential buyers are going to try to get the best deal and will typically make offers lower than the advertised asking price. Sellers should not take a low offer personally, he said, but they sometimes do.
“It’s not a mistake, but bear in mind some sellers may be offended by a low-ball offer and not even bother to negotiate,” he said.
A home that has been on the market a long time most likely has too high of a listing price, and could cause prospective buyers to second-guess its value. And if it’s priced too low, the seller will lose money, which could affect the equity that could be used toward the purchase of another home.
Property in the Golden Isles continues to be a hot commodity, with some buyers ready to make cash offers. But buyers with good credit can still compete with cash customers, he said.
“The advantage of a cash offer is, theoretically, it could close faster, which may or may not be an advantage to a seller if the seller has to make plans to move and doesn’t know where,” he said.
Getting pre-approved for a home loan is “most definitely” recommended and helps the seller when it comes to considering an offer, he said. Pre-approval at the beginning of a search shows a seller the buyer is serious about buying a home.
Sellers should also be prepared to negotiate when it comes to how much a home will sell for. The offer ultimately accepted will depend on the seller and his or her motivation, he said.
“If, for example, the property has been on the market for six months with no offers and very few showings, most likely the problem is the price,” Adamson said. “Other factors can be interest rates, changes in the neighborhood or near neighborhood and too much competition.”
