Buy First or Sell First?
While the answer to this question is based on you, here are some things to consider:
Real estate professionals usually advise listing your home and shopping for your new home simultaneously. Nonetheless, speak with Nicole Carrington about your situation, so, based on current market conditions, you can determine how quickly you need to sell and how long you should expect it to take.
If there are specific criteria you’re looking for, like location or size, you should consider finding and buying a home before you sell your existing home. In this situation, your offer to buy a home can be contingent on selling yours. Or if you sell first, you can make your sale dependent on finding a new home.
Spring and fall are the most popular seasons to put a home on the market and Nicole Carrington can help you consider the effect of other factors like interest rates when deciding on a listing date.
Preparing for the Sale
There are so many things to consider when getting ready to sell your home to make it appeal to potential buyers. Nicole Carrington can offer specific suggestions to add value to your home without spending a lot of money. Here are some ideas to make your home sell:
- Curb Appeal
- Keep your lawn cut and trimmed
- Enhance your landscape with brightly colored flowers
- Add seasonal decorations to your door
- Make necessary repairs
- Remove clutter
- Go through loose papers/mail
- Tidy up closets
- Organize basements and other rooms that aren’t readily used
- Brighten your space
- Well lit, sunny rooms make them appear larger
- A new coat of fresh paint or painting a lighter color adds brightness to rooms
- Showcase your home’s best features
- Move your couch to show-off a great view
- Rearrange furniture to draw attention to your fireplace
- Create an inviting atmosphere
- Light scented candles
- Display fresh cut flowers or plants
Setting the Right Price
Listing prices change with market trends but there are a few factors that always play a role in the assessment of your property.
The key components use to help assess your home’s value are location, property size/features, style, age, physical condition, special features, and recent enhancements. Because every neighborhood is different, Nicole Carrington will start the pricing process by researching comparable homes in your neighborhood and town that have recently sold and their current values. To determine your home’s Fair Market Value, Nicole will also take into account market influences like supply versus demand, the local economy and home appreciation rates.
Because homes that are new to the market tend to get the most attention, an attractive initial listing price is imperative. With keeping with the supply and demand in your area, it’s important to keep your price realistic. Using the correct pricing strategy will ensure multiple offers and that are above asking price.
Marketing your Home Sale
Here’s what it will take to attract potential buyers for your home.
Before committing to hire Nicole Carrington, she have an initial meeting with you where she will take exterior and interior photos, measurements of each room, and assess your home’s key features. During this meeting it’s important to also tell her of any improvements that had been recently made in the home and any concerns you might have.
This information will allow Nicole to create a customized marketing plan that will provide you with a clear idea of what will be done to attract the most potential buyers to your home. The marketing plan will include the following:
- How your home will be advertised including websites
- Advertising materials with photos showcasing your home’s special features that will be given out at open houses or put in the information box of the For Sale sign
- Open house information that can increase foot traffic of potential buyers
- Social media posts might also be included in your marketing plan
Conducting Open Houses
On averages, 3 of every 4 homebuyers visit at least one open house during their homebuying process. Holding open houses is not necessary but with those numbers, it is great marketing technique that can get your house sold more quickly. Nicole Carrington open houses lead directly to thousands of home sales each year.
At open houses, Nicole feels it’s essential to give a tour of the home which will allow the potential buyer insight on the home’s features and how they can utilize each room best. During the tour homebuyers can also learn how affordable the home is and different options that are available for mortgages.
Reaching an Agreement
Typically, when an offer is received on your house, it won’t be for the asking price so you would want to counter the offer. Nicole Carrington is well qualified to negotiate on your behalf with your best interests in mind.
If the buyer counters your counteroffer, Nicole will work with you to determine your next move. Instead of going back and forth on price, offering something to the buyer might entice them to purchase the home at a higher price. Examples of this might be to leave behind major appliances or include a year of home warranty service.
Nicole can also negotiate some things for you as well, including a flexible or delayed closing date to give you more time to find your dream home or an earlier closing date which can prevent you having to mortgage payments if you’ve already found your new home.
If you receive multiple offers, Nicole can help you assess each of them by weighing in factors such as if the buyer had a mortgage pre-approval, how much they’re putting down, if they have to sell their home first, and the time frame that they want to move.
Home inspections are completed after you sign a contract so if something is found that needs fixing, you will have to negotiate to determine who will pay for what. Nicole Carrington will help you with ensuring you protect the home equity you want to walk away with, but is flexible to avoid jeopardizing the sale itself.
Compass Real Estate
7200 Wisconsin Avenue
9th Floor
Bethesda, MD 20814
