23 Jan Tips That Real Estate Agents Wish You Knew
Buying a home is the biggest financial transaction for the majority of Americans, and yet most don’t know much about the process of buying and selling homes. If you are a buyer ready to move into a larger home, you will want to start your search by talking to a mortgage planner at Fairway Independent Mortgage of the Carolinas about your financial goals and what payment you can afford for your next home. The next person to talk to is a skilled real estate agent. Discuss what you are looking for in a new home and ask questions. Over their years of housing experience, Realtors have seen a lot and learned even more. They are the right people to answer questions like:
- Why do some houses sell while others linger on the market?
- Why do some buyers never make it to closing?
- What neighborhoods are right next move for me?
- What changes should I make to sell my home faster?
Whether you are a buyer, seller, or both, there are some things that real estate agents want you to know about moving up into your next home.
1. Want to sell your home quickly? Price it just under the market!
Pricing your home slightly below market value gives you a better chance of selling quickly. The longer your house is on the market, the less likely you are going to get fair value.
2. The pre-approval letter is just the beginning; do not gain any new debt! *
Pre-approval letters are just the first step in the long process that is buying a home. Even after being pre-approved, make sure that you DO NOT open new lines of credit or run up your existing credit cards. Just before your closing, lenders will re-examine your financial situation – including your recent copy of the credit history. If any numbers have changed you risk the losing the loan.
3. Selling your home might be a long process.
It is important to be realistic about how long the process of selling your home can take. When you underestimate the actual time frame and build a schedule around those expectations you are welcoming added stress and disappointment. A smart seller will allow at least 4-6 months to sell their home – and that’s IF you have a home that’s priced right in a good market with one solid offer that makes it to closing.
Here’s a realistic potential schedule breakdown:
- Preparing your home for sale: 2 weeks
- Average time on the market (depending on the Charlotte market): 2-3 Months
- Negotiating an offer: 1 Week
- Closing with a traditional transaction: 30-45 Days
4. Not all ‘buyers’ are ready to buy, even when the buyer is you!
The proof of being ready to buy a home is making the time and effort to receive a home mortgage loan pre-approval, like Fairway’s Certified Pre-Approval. At Fairway Independent Mortgage of the Carolinas, when we certify you to buy, that means your will receive your loan or your money back! (Link to FCPA) If you are the seller, you will always pick the contract that has real money behind it, not just a pre-qualification letter, so why expect any less from the offers you receive on your home?
5. The Senses Make the Sale!
Homebuyers want to walk into your house that looks good, feels comfortable, and smells neutral. Often sellers drag their feet on small details that can make a big difference. With cluttered countertops, messy rooms, or dirty carpets or floors, the buyer will potential walk away with a negative impression that will be hard to overcome. Be sure to clean well, leave lights on and perhaps leave out drinks and snacks to make buyers feel like guests. When you are touring potential new homes, make mental notes about the things you notice!
Real estate agents know all the information you need to make the best decisions when it comes to buying and selling a home. They know the best schools, the best neighborhoods and where the pockets of growth are. They understand where property taxes are higher or lower and can listen to a buyer’s needs and give the best advice they can. Ask Fairway for a recommendation because we work with incredible agents every day and be sure to ask us about our Certified Pre-Approval as you start thinking about moving into a new home and putting your home on the market. We are here to help you every step of the way.