I’m a Real Estate Agent: Here Are 7 Steps That Make Your Home Easier To Sell – Yahoo Finance

In the scorching-hot seller’s market of the pandemic, many homes fetched well beyond asking price with little to no effort on the part of the sellers.
I’m a Real Estate Agent: Don’t Rent an Apartment If It Has Any of These 10 Problems
Learn: 3 Things You Must Do When Your Savings Reach $50,000

Today’s market remains seller-friendly, with inventory down and prices up. But sellers should expect to work harder and make more improvements than earlier in the decade, experts say.
“During the pandemic, people were coming in and buying homes — they didn’t care what was wrong,” said Larry Nooe (rhymes with “snowy”), a broker with RE/MAX in the sizzling Charlotte, N.C., market. “It was kind of sad in a way. The sellers were sort of taking advantage of the buyers.”
Clare Trapasso, who covers the industry nationwide as Realtor.com’s executive news editor, experienced the pandemic market first-hand. She agrees that it’s still a seller’s market, just not THAT much of a seller’s market.
“I bought a house during the pandemic,” Trapasso said. “People weren’t even bothering to clean. You can’t really do that anymore.
“The change is that right now sellers have to put in more work. Contingencies are back. … They (buyers) want to see something cute, with curb appeal. It should smell good. It should look good.”
If you’re ready to put your home on the market, here are seven important steps to take.
Nooe shared that few things can turn potential buyers off more quickly than a disorganized, unkempt home.
“You need to keep it clean, just like it’s a model home,” he said. “If you don’t, some people will come in and then walk right out.”
When it comes to improvements, a little can go a long way — assuming that your house is in reasonable condition to start.
“We tell them (sellers) to make some improvements but not spend a lot of money,” Nooe said. “Maybe change the paint colors. Paint that trim, and they’re likely to give you more money.”
“You don’t necessarily need to remodel the whole kitchen,” Trapasso added. “But maybe paint the cabinets.”
I’m a Real Estate Agent: These Will Be the Best States To Buy Property in the Next 5 Years
If you’re getting your home ready to sell, clutter is your enemy. Experts say it’s worth the effort to clear things out, even if temporary storage space is needed.
“When people go into a cluttered home, it looks smaller,” Nooe said. “It’s overwhelming for people sometimes. Try to keep it simple. If you’ve got a lot of things, maybe put some of them in the attic.”
It’s tougher for potential buyers to visualize themselves in your home if there are signs of the current residents everywhere. Consider removing things that are uniquely “you,” such as family photos. Experts also caution against leaving items that are potentially controversial.
“If you have a giant Trump flag or a giant Biden flag in your yard, possibly half the population could be offended,” Trapasso said.
You also may want to stash that 10-foot-by-10-foot Michigan Wolverines tapestry or repaint the den you redid in Las Vegas Raiders silver and black.
“Even your favorite sports team,” Trapasso said. “Maybe leave that behind.”
Those moments when potential buyers first drive up to your house are crucial. The view from outside has to deliver.
Nooe said, “I’ve had people drive up and say, ‘This yard is a fiasco. When I see that, it makes me wonder if they aren’t taking care of the house either.'”
Make sure the lawn is mowed and edged. Consider planting some flowers and painting exterior trim.
On the other hand, be wary of replicating the Gardens of Versailles. If things look too intricate or perfect, your potential buyers may have visions of spending all of their time maintaining the yard, Nooe warned.
If you have any doubts about your photo skills or equipment, consider professional help for your listing photos, if you can afford it.
“If they don’t have that edge to know how to take pictures with the right angles, they need a professional photographer,” Nooe said. “I’ve had people rule homes out just because the pictures weren’t good.”
Trapasso also emphasizes the importance of strong imagery for attracting serious buyers and for getting higher offers.
“Most of us can take a decent iPhone photo, but professionals can light it right, stage it right,” Trapasso said. “People are having to shell out a lot of money with high prices and high rates. Give them the justification to spend that money.”
Tours of homes in 3-D have risen in popularity and are often considered a must for more expensive homes, Nooe added.
This one is pretty straightforward. Getting your home to sell for the price you want is all about increasing your odds. When you turn down showings because the timing is inconvenient for you, those odds get longer.
“Clean out the clutter, get the house in tip-top shape and be flexible with your schedule,” Trapasso said. “The more people who see your house, the better.”
When it comes to making your house sellable, Trapasso said, nothing is more important than setting the right price. Go too low, and you sell yourself short. Go too high, and you risk the home sitting on the market for too long and making potential buyers wonder why.
“You really need a good strategy (on price),” Trapasso said. “Look at the comps. Talk to your agent. The longer it sits on the market, people may think there’s something wrong with it.”
Then again, depending on where you’re selling, inventory sitting around for long may not be an issue. A house two doors down from Nooe’s residence in the Charlotte area recently went on the market, received 11 offers and went for $150,000 over asking price — all within 24 hours.
“It’s all changed from what it was like years ago, when I started,” Nooe said, reflecting on 36 years in the business. “Back then, there was more supply than demand.
“If you sold a house in three months, that was pretty good. Now, in Charlotte, if it takes more than three days, you’re wondering what’s going on.”
More From GOBankingRates
14 Key Signs You May Run Out of Money in Retirement
Which Bank Gives 6% Interest on Savings Accounts?
3 Things You Must Do When Your Savings Reach $50,000
5 Ways to Invest for Retirement
This article originally appeared on GOBankingRates.com: I’m a Real Estate Agent: Here Are 7 Steps That Make Your Home Easier To Sell
(Bloomberg) — Zillow Group Inc. and other real estate stocks plunged after a Missouri jury struck a fresh blow against the battered industry, finding that the National Association of Realtors colluded to maintain high brokerage commissions. Most Read from BloombergImmigrants Are Leaving Canada at Faster Pace, Study ShowsIsrael Latest: Blinken Returning to Israel; Refugee Camp HitZillow Plunges After Verdict on Real Estate Brokerage CommissionsSaudi Forces on Alert After Clash With Iran-Backed H
The National Association of Realtors and large residential brokerages were found liable for about $1.8 billion in damages in a verdict that could upend the home-sale industry.
(Reuters) -A U.S. jury on Tuesday found the National Association of Realtors and some residential brokerages, including units of Warren Buffett's Berkshire Hathaway, liable to pay $1.78 billion in damages for conspiring to artificially inflate commissions for home sales. The verdict by a federal jury in Kansas City, Missouri, could upend decades-old practices that have allowed real estate agents to boost commissions as home prices and mortgage rates rise, hurting consumers by making housing transactions more expensive. Plaintiffs in the class action included sellers of more than 260,000 homes in Missouri, Kansas and Illinois between 2015 and 2022, who objected to the commissions they were obligated to pay buyers' brokers.
A Missouri jury found that the rules surrounding the payment of buyers’ agent commissions were anticompetitive.
“The residential sector now appears to be contracting alongside the recent move higher in mortgage rates,” the bank’s economists wrote.
The National Association of Realtors and other industry players conspired to boost the commissions paid to real estate agents, jury rules.
(Bloomberg) — Home prices in the US reached a new high in August after seven straight months of gains. Most Read from BloombergIsrael Latest: Blinken Making Another Visit to the Middle EastSaudi Forces on Alert After Clash With Iran-Backed HouthisImmigrants Are Leaving Canada at Faster Pace, Study ShowsInnovent, Lilly Obesity Drug Spurs More Weight Loss in TrialSony’s Bungie Game Unit Cut 8% of Staff After ‘Destiny’ Play WiltedA national gauge of prices increased 0.9% in August from July, accor
U.S. vacation home sales have fallen by nearly three-quarters from their frenzied pace three years ago as an inventory shortage spawns a wrenching correction in the second-homes market. In markets like Hilton Head Island, South Carolina, or Lake Havasu City, Arizona, sales have all but dried up, data from mortgage services firm Optimal Blue showed, even though demand remains as hot as ever. The current share of secondary homes within the existing housing market has fallen to 16% as of August, from a peak of 22% in January 2022, data from the National Association of Realtors (NAR) showed.
"Home prices have not moderated much despite high borrowing costs because housing inventory is so low," LPL said.
The S&P CoreLogic Case-Shiller National Home Price Index increased 0.9% in August month over month and 2.6% annually on a seasonally adjusted basis.
If you're looking to buy a home for the first time in 2023, here are some benefits and programs to take advantage of.
U.S. home prices continued to march higher in August, according to S&P data, even as the housing market grapples with an ongoing spike in mortgage rates.
With mortgage rates around 7% and home prices still elevated, here's what you need to know about buying a house this year.
The pandemic kicked off a "doom loop" that has gutted cities and towns across the country. Big banks are making it worse.
Sure, you can be a landlord, but there are other, less time-consuming ways to make money by investing in real estate.
Home prices rose 5.6% on a year-over-year basis in August, up from a 4.6% increase in the prior month, the Federal Housing Finance Agency (FHFA) said. The report also showed prices rose moderately on a month-over-month basis, in line with the trend over the past quarter. Prices were up 0.6% in August, compared with a 0.8% month-over-month increase in July.
FreezPak Logistics, a dry goods and cold-storage transportation services firm, along with partner BG Capital, a Pennsylvania-based real estate developer, have secured $75.9 million in construction financing to build a 282,000-square-foot cold-storage facility outside Houston, Commercial Observer has learned. The two firms have combined their businesses as BGFP International for the deal. The strategic partnership has already secured $200 million in total investment for three cold-storage projects across the U.S.
(Bloomberg) — Singapore’s luxury housing deals are drying up as one of the nation’s largest-ever money laundering scandals weighs on the market.Most Read from BloombergSaudi Forces on Alert After Clash With Iran-Backed HouthisInnovent, Lilly Obesity Drug Spurs More Weight Loss in TrialIsrael Latest: Netanyahu Vows to Stay On; Targets Hit in LebanonSony’s Bungie Game Unit Cuts Staff Following Delayed TitlesIsrael Latest: Military Battles Deep in Gaza, Fires at HezbollahHigh-end bungalow sales ar
Orsted booked a $4 billion impairment charge in the third quarter related to its U.S. offshore wind portfolio and said it will stop development of two wind farm projects off the coast of New Jersey amid spiraling costs and supplier delays.
Sarepta Therapeutics' gene therapy, Elevidys, faces an uphill regulatory journey, analysts said Tuesday on mixed test results.


(Visited 1 times, 1 visits today)