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Welcome To Real Estate Thursday
Welcome To Real Estate Thursday

 

Each Thursday I will focus on the market and the home buyer or seller.  We are in difficult times and folks are not sure what to do when it comes to real estate. Should I buy? Should I sell?  Are pricing going down?  Going up?  The goal of this blog series is to assist home buyers and sellers in these questions and any other real estate questions you may be pondering.

As a home seller, your first step is to review your reasons to sell.  If you do not fit one of the reasons listed, then you might want to revisit why you are selling.  In other words, maybe you don’t have a reason to sell.  Perhaps you should wait to put your home on the market or if it is currently listed, perhaps you should temporarily take your home off the market.  If you are not motivated to sell, you are not a seller.  You’re a home owner with a sigh in the yard.

Reasons Why Home Owners Sell

  • Upgrade
  • Home is Too Small
  • Home is Missing Something You Can’t Live Without
  • Job Transfer
  • Personal Relationships
  • Neighborhood Changes
  • Empty Nest
  • See Family More Often/See Family Less Often
  • Retirement
  • Healthy Problems
  • Deferred Maintenance
  • Cash In Equity
  • Lifestyle Change
  • Can No Longer Afford The Home
  • Other _______________________

Now that you know you want to sell it is time to interview real estate agents to assist you in selling your home.  Did you know that your first showing is no longer in your home but online? A buyer makes a decision on whether they are going to drive by or call the agent before they leave their computer screen. When marketing a home you are essentially holding an online open house waiting for the buyers to call for a second showing.

There are 4 elements for success –
1 – Presenting the home attractively online and offline
2 – Placing it in the right places
3 – Tracking online and offline marketing views
4 – Competitive value

Although value does play an important part in getting your home sold – it is not the only part. You need all 4 elements to successfully sell your home. Some agents want you to believe that your home is not selling because it is overpriced, the market is terrible or no one is selling or buying right now.

No matter what buyers are buying and sellers are selling. As a seller you need to implement the 4 elements of success in order to get your home sold. In order to do this you need an agent or agents that are using cutting edge technology, tracking tools and are constantly educating themselves on changes in the real estate industry and the newest tools and technologies available to get your home sold.

As a seller it is more important than ever to understand absorption rate – How much inventory is on the market actively competing with your home. What the average market price is and where your home sits in relationship to the average market value. Your agent should help you understand how long it will take to sell the entire housing inventory that is in direct competition with your home and where in line you want your home to be.

A lot of homeowners are currently facing foreclosure or they need to sell however they are upside down with their mortgage – owe more than it is worth. If you find yourself in this situation finding an agent that can guide you and help you understand your options, which could include a loan modification, refinance or short sale (where you sell your home for less than what you owe) is extremely important. The role of a real estate agent is not only to market and sell your home but it is also to educate you so that you understand the process, your options allowing you to make an educated decision on what steps to take next.

Tiffany Hampton is a Mom of 3, Community Activist, Social Media Adventurer and Successful Real Estate Agent with Century 21 Samia Realty.  Have a real estate question or need? - Visit our real estate service sites www.C21SellsMaine.com or www.BeReadyToBuy.com  I would love to hear from you. For more information about me or the Saco community please visit www.SouthernMaineLife.com