In most of the United States, Real Estate tends to pick up after the first of the year when the holidays are done. However, in Louisiana, we still have more celebrating until after Mardi Gras. With Carnival in our rearview, the market is about to get into the busy season. Are you ready?
For Sellers
What might you do to prepare your home to list? What are some strategies you might incorporate into your sale?
Make sure you are working with a REALTOR® who is both licensed and experienced. Though many people feel they can save money by selling their homes, they expose themselves to risk throughout the negotiation process. Oftentimes sellers will net a greater gain using a REALTOR® than doing For Sale by Owner.
Get ready for pictures. Nearly everyone is shopping for their home online at some point in their process. This digital first impression is of paramount importance. Make sure the home is clear of clutter, have a deep clean, spruce up landscaping, and make minor repairs that could show up in photos.
Get a CMA. A Comparative Market Analysis can be prepared by your REALTOR®. This will compare other similar properties to your own and help you come up with a recommended listing price. It's important to remember that pricing a property correctly is one of the main factors in getting the largest net return on a sale.
Come up with a marketing strategy. Talk to your REALTOR® about what steps they will take to market the property. Naturally, it will be on the MLS, but what other avenues are they exploring? Also, make a schedule of Open House/Broker Tour dates.
For Buyers
Are you prepared? What should you have in order before shopping for a home?
Even more so than with sellers, it's extremely beneficial to work with a REALTOR® when purchasing a home. In most instances, the sellers pay the realtor fees for both sides. Therefore, there's nothing to lose by working with an experienced agent. Agents can help you search the MLS as well as other avenues where homes might be marketed. They will negotiate a sales price on your behalf in addition to the inspection response.
Get pre-approved for a mortgage. If you don't already have a trusted lender to work with, your REALTOR® should be able to point you in the direction of a professional they've had good experiences with.
Have your REALTOR® set up your search criteria. Once you're pre-approved, go shop online and have some fun. If you see something you're interested in, have your REALTOR® schedule a showing.
Make sure your inspector is lined up. Let's say you find a home you love and make an offer. You'll want to let your preferred inspectors know so they can set aside time to perform the inspections within the DDI period. Remember, you'll at a minimum want a general, video-pipe, and termite inspection.
Conclusion
Buyers and Sellers both need to be prepared for a more robust market than last year. Having a real estate professional in your corner can give you protection through the several layers of negotiation that are associated with buying real property. If you're looking to interview a REALTOR®, Chuck Stall is available via email at chuck@amplifiedrginc.com or by phone at 504-432-0263.