Secrets Real Estate Agents Won’t Tell You
You may have done all of your research before deciding to put your home on the market and buy a new home, but a licensed real estate agent is always going to be more prepared to face the market than the average home buyer and seller.
If you are looking to buy or sell a home, there are some secrets you may want to be in on before jumping into the market that your agent won’t openly divulge right away. See below for some great insider tips to help you sell your home and get into a new one quickly.
Don’t pour a lot of money into unnecessary renovations. Sure, there are always going to be small upgrades that can be made throughout the home to help it sell, but usually you want to keep the palette as neutral as possible when trying to sell. You may love granite countertops and colorful backsplashes in a kitchen, but it may not be the taste or style of many of the buyers that come to view your home, so don’t spend a ton of your hard earned money turning the kitchen into your dream when you are about to leave it anyway.
Self-promote your listing everywhere you can. Your agent will do a lot of the listing legwork for you, but if you want to really get the word out, try social media for sharing photos of your home for sale and where buyers can find more information. Ask your friends and family to share the post as well to get the farthest reach you can, and re-post often. You may annoy your fellow peers for a while who are not looking to buy, but you may also get a bite from a friend of a friend who thinks your home is just perfect.
Make your home move-in ready. Despite the popularity of those home-makeover television shows, most buyers are not looking for a large project, especially in a hot market. Repairing any damage or replacing any appliances that come with the home will be big selling points when attracting buyers. Make sure that all major issues are taken care of before any inspections are done in order to avoid costly repairs that must be done quickly, and have the home clean and ready for new owners as soon as you can vacate the house.
Traditional mortgage loans are not your only option for financing. If your credit is not where it should be, or you simply don’t want to be tied down to a traditional 15 year or 30-year mortgage loan through a bank, you have other financing options available when looking. A hard money lender, also known as a direct lender, can get you financing much faster, and without much of the hassle or paperwork needed with a bank. They base their decision off of the property value, not the credit of the borrower. They also offer much shorter-term loans that can be paid off with penalty once you sell your old home or get some cash in hand. A bridge loan can actually help take you from one house to another if you are having to relocate quickly. Talk to an agent about hard money lenders they recommend and trust if you are looking for something different.