While it might have been a safe assumption that a global pandemic would crumble the housing market, it actually had the opposite effect. As global economies shrank and Wall Street nearly had an aneurysm, the housing market in many of the world’s developed nations actually exploded, with a $2.5 Trillion gain in the United States alone.
Industry analysts have attributed this to the unforeseen requirement of working from home which has had the effect of forcing people to reassess their needs as the pandemic swept the world. Essentially, millions of people needed to move to a larger home in order to accommodate one or more home offices, homeschooling areas, or both.
The current situation means that properties are currently a seller’s market but there are some things you will need to do first:
- Choose the right agent
- Get it valued
- Make it marketable
Finding a reputable firm is crucial for a quick sale and it might be worth assessing each firm’s turnaround figures while having a property valued should be ASAP before the bubble bursts and it is vital that you always present a property in the best possible way no matter the market conditions if you want a quick sale.
Research Your Agent
As with anything where money and legal matters are concerned you will have to do your research before settling on the best firm to represent you and your property. Almost every town and city is home to at least one real estate agency but more often than not there are many, each with its own pros and cons.
While Googling a company is probably your first idea, it isn’t the best way to gauge information on a firm since negative reviews can be left by anyone with a grudge or even as a dirty tactic by a rival company. For this reason, it is always advisable that you visit reputable agents such as Matin Real Estate for an informal interview where you can assess them and they can assess you but any turnaround figures in excess of 3 months should be avoided.
Get an Accurate Value Assessment
Obviously, you will want to know what a property is worth before placing it on the market, otherwise, what’s the point? However, this is not easy and requires professionals to handle it with the care and attention that it needs. The main reason for pricing a home properly is so that it can sell at a fair and reasonable price for both you and any buyers, but there are many factors that go into the value of a home.
Such things as a property’s condition, current market trends such as buyer vs. seller market, and the location can all play a significant role in a valuation. If you are looking for a quick sale then it is essential that you get accurate pricing ASAP so as not to price your property too high since the longer a property is on the market, the least likely it is that it will sell which is why the 3 month rule is so important.
Appeal to the Buyer
Either before or after a property valuation you might want to make your property more marketable. A common technique that people employ is to have a property priced before and after a marketability project in order to see any potential gain in value that a property has acquired from hard work. There are many things that you can do to make a property more marketable but some of the most common include raising curb appeal, cleaning, and the real estate classic, staging.
Raising curb appeal isn’t the easiest thing to do but some common techniques include lawn and yard maintenance, repair work, and painting the outside. Cleaning and clearing are essential as nobody wants to see themselves in a dirty or cluttered home and perhaps some minor redecorating is necessary as well. Staging is a difficult method but real estate agents or their associates are usually trained in this and it essentially aims to give the home a magazine look.