What your real estate agent wants you to know
Buying or selling a house is a big deal. Most people only go through this process a handful of times in their life – if it does – but real estate agents walk clients through it for a living.
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Therefore, they’ve seen pretty much everything from both sides of the deal and have a lot of wisdom to pass on to their clients. Regardless of your side, it’s important to trust the agent you’ve hired to help you and listen to their advice.
For example, when looking for a new home, buyers often rely on the price estimates of real estate sites like Redfin and Zillow to understand the value of different properties. However, Mary Fitzgerald, an Oppenheim Group real estate agent based in West Hollywood, Calif., Said it was not the best approach.
“[Buyers] cannot rely on Zillow’s “Zestimates” because they do not take into account the renovations carried out since the last sale, nor can they differentiate between the types and values of the houses seen ”, he said. she declared.
See: 20 Home Renovations That Will Damage Your Home’s Value
Like many other parts of the country, Fitzgerald, who also stars in the Netflix reality TV series “Selling Sunset,” said Los Angeles currently has a seller’s market in the range of $ 2-3 million and below. .
“Sellers need to price aggressively and get as much traction as possible for the initial property launch,” she said. “With low inventories buyers compete for properties and nine out of 10 times the seller will land at a higher selling price in a multiple bid scenario than if they were listed high and stayed in the market.”
Of course, presentation is extremely important in real estate as well, which is why Fitzgerald advises sellers to make sure their home is at its best.
“The staging, even minor, is extremely important,” she said. “A lot of sellers don’t want to absorb the cost for this, but it’s essential in many homes and sellers will almost always get that money back a little bit – while getting more buyers’ attention to the property and more bids. high. “
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Yawar Charlie, Estates Division Manager at Los Angeles-based Aaron Kirman Group, Compass, reiterated that sellers need to make sure their home is ready to be presented to the world at its best.
“Always remember, buying homes like going on a first date,” said Charlie, who is also a series regular on the CNBC reality series “Listing Impossible”. “First impressions count. “
He said it’s important to make sure the curb appeal is nice, noting that the little touches go a long way.
“If the house needs a new coat of paint, do it,” he said. “If the grass is to be planted in a certain area, do so. “
More: Home Improvements To Do – And Skip – Before You Sell Your Home
Before listing the property, Charlie said sellers should meet with a handyman to deal with minor household items that need repairs.
“If there are any larger items, get a general inspection report, find out what those items are, and consider disclosing them to any particular buyer that comes your way,” he said. “That way, it will avoid any surprises down the line in terms of requesting repairs or getting credit. “
Plus, Charlie said now is a great time to get rid of items you no longer need.
“You want to depersonalize the house in general, to make sure it’s neutral enough to appeal to any potential buyer,” he said. “This may include painting some parts a neutral color rather than something bold, in order to appeal to the generic buyer.”
Read: 40 cities that could be on the verge of facing a housing crisis
On the buyer’s side, Eric Nerhood, owner of Premier Property Buyers, based in Orange County, Calif., Stressed the importance of choosing the right real estate agent.
“Just because you know someone doesn’t mean he should be your agent,” he said. “Uncle Joe’s best friend’s son’s wife might be fine, but you need someone you can trust to work with you.” “
When searching for the right home, Nerhood also said that buyers shouldn’t rush the process, but noted that there’s also something like being overly selective.
“You might not find your dream home right away, and that’s okay,” he said. “You also don’t have to see at least 100 homes to make your decision.”
See: 32 Insider Tips For Buying And Selling A Home
Financing is one of the most important aspects of the process for most home buyers. Nerhood therefore said it was important to get pre-approved before looking for properties. This allows both the real estate agent and the buyer to have a realistic price to work with.
“Tell us about everyone involved in the purchase,” he said. “Don’t suddenly bring in your uncle who could help you fund. We need to know that up front. “
Whichever side of the transaction you find yourself in, keep in mind that your real estate agent helps clients buy and sell homes for a living. Therefore, you will probably get better results by taking their advice seriously because they know what they are talking about.
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Last updated: September 28, 2021
This article originally appeared on GOBankingRates.com: What Your Realtor Wants You To Know