Selling a home is not as easy as it seems to be and is even more challenging if you are doing it for the very first time in a market like Ireland.
When selling your very property, you are already setting yourself on a track that’s no less than an emotional rollercoaster ride. The process undoubtedly is going to be very tiring and stressful as well.
Despite that, you need to do certain things for the greater good, and selling your home for a better opportunity is certainly one of them. So plan your home selling process before you go on to sell it and do everything step by step.
Initially, you might not know where to start. To set your foot on, we bring to you a list of power tools that can prove to be very helpful for the first-time home sellers to implement and maximize their gains.
1. Market Research
Researching your target market and knowing the market trends beforehand is essential. You need to know about the market tides and whether or not it is hot before you go on to selling your property.
The timing matters a lot as well.
If you want to get better results you need to put your house in the market at an appropriate time.
Putting up your property in the market during the offseason will surely lead it to sit there for a longer period and may cause the buyers to get suspicious about it.
Any unexpected conditions in the economy may lead to a downfall or uprise of the real estate market. Although we have also seen high pent-up demand in the property market of Dublin as high as June last year despite the pandemic, you must weigh all the external factors.
What you need to do is check the market before putting your home on sale and then move on to make an informed decision.
2. Choose a Selling Strategy
To manage the sale of your property you must be thinking either of hiring someone or managing the process yourself. This is a very crucial decision to take, especially when you are selling your property for the first time.
Usually, it is suggested for the newbies to take assistance from someone who has more experience in the industry. This helps you learn about the proceeding of selling your property which will undoubtedly help you when you decide to do it yourself in near future.
Hiring an estate agent like Castle Estate Agents can prove to be your best bet. We offer services without any upfront fees. So you don’t have to pay anything unless your deal is done and your house is sold so you get to advertise for free.
Real estate agents act as a link between buyers and sellers and help you with additional home selling burdens like paperwork, marketing, market evaluation, pricing, and even negotiation. So it’s a smart decision to hire one.
In other cases, if you are already good enough and ready to carry your burden then no point in wasting money. Cut the cost and get your home listed.
Keep in mind that you are your manager here. So on the cost of saving a very little money, all the aspects, from listing to showing and finally closing are going to be handled by yourself.
So think wisely before jumping into the market.
3. Prepare Your house for sale
The first impression of your property will increase its likelihood to be sold at a very good price and in a short period. You, therefore, need to fix any structural problems on the property before putting it on the market.
Your property’s repair and restoration may cost you a bit but will end up paying off the additional cost.
Buyers are extremely picky these days.
They don’t want to shift to a house in which they have to begin with expensive repairs before they get to settle as soon as they occupy it.
Redress your house in a way that the buyer can picture himself living in it. Structural fixation should be the priority. Leave the rest to the buyer who is going to be part of it.
After extensive research and multiple surveys, we have come up with a basic list of elements that need restoration for your home to acquire a good bid.
- Paint the walls.
- Decluttering and professional cleaning is a must.
- Replace outdated fixtures, fittings, and lights with modern ones
- Clear the counters, and stay organized to give a spacious look
- Repair any dainty cabinet and closets, or just get them repolished for a fresh look.
- A well-maintained lawn will give your home a good exterior view. Work on it!
Put effort to give a great first impression to your potential buyers. Remember, your house should look the best when it gets out in the market.
4. Price it right
The cost of land and property is different in different areas of Ireland. So price your house as per its worth.
Now, this is where you will be needing your real estate agent’s input a lot. Knowing the market and the neighborhood your house is standing in, they will surely guide you in making a much more informed decision in pricing your house competitively.
Even if you are selling your house on your own, this is the time you should seek advice from a trustworthy realtor to find out the market value of your asset.
For that, you can even consult a daft Irish property price register to evaluate the accurate worth of your house in comparison to the given data.
Overpricing your property to leave room for negotiation is never a good idea. It leaves the buyer with a deceitful impression. This eventually results in your house sitting in the market for a longer time.
When your house is not selling at a price you asked for, you will eventually have to cut it down after a while, to make it work. This transition will devalue your house.
Asking the right price instead will build a trustworthy impression on your potential buyers.
5. Advertise and market it
The search for a house these days typically starts online. Putting information about your sales online is therefore extremely essential. Doing so helps protect your property to a bigger audience. In case you feel you need expert help in doing so, collaborating with real estate agencies work very well for you.
Due to the current post-pandemic condition, real estate agents are already preferring to deal online.
In this regard, visuals play a very important role. A book is nearly always judged by its cover, a breathtaking exterior view with proper lighting and a well-executed driveway will therefore help create a spectacular impression of your house.
That however is not enough. You need to take photographs of every room and space within your home. Select angles and light that make you are interior look more inviting
Avoid adding unnecessary effects to your pictures that end up giving a false image of your place. Focus instead on little details like woodwork or floor patterns while taking close-ups.
Once you are done putting up all the information, pictures, and videos of your home online it’s time to let everyone know!
Give an ad or put up signage. A well-designed sign of “FOR SALE” will generate many more phone calls and ultimately interest your property’s potential buyer.
You and your realtor should cash the selling points of your home and choose the best advertising words to convince your buyer to have a look at what you offer. The more traffic your property receives, the better your chances are at selling it at the price you demand.
6. Showing your house
It might sound a little bothersome when you are sitting at a dinner table and someone calls you for a house show. It however is undoubtedly a part of the bigger game. You better prepare yourself for such surprises if you are selling it on your own. But if you hire a real estate agency like ours to do it all for you, we take care of the viewings and arrange timings with the vendors.
When you are doing it yourself, always be welcoming and avoid giving the viewer another time or date to view it. They might find something else in the meantime.
In the other case if you are working with a realtor it will be easy for you as they schedule a well-informed meeting that is suitable for both the parties.
While preparing yourself for the house show, try to take personal stuff away from sight. Let the buyer view the house and create a picture of themself living in it. That is why staging your home is critical for getting a good price on your place.
Due to the prevailing conditions of health issues, most buyers avoid socializing and may ask you for a virtual tour instead. You, therefore, need to be prepared for showcasing your house, should the need arise, in the best possible way you can.
7. Dealing and negotiation
Provided you follow the afore-discussed pointers appropriately, you will undoubtedly find multiple offers waiting down the line. You need to be prepared as per the appropriate manner in dealing with each.
Don’t take too much time in responding, reply to every offer promptly without wasting any time.
Avoid rejecting any offer even if it seems too low. Take a little time to do your maths.
Try to negotiate and be flexible before saying NO, but avoid going below your bottom line. Be patient and wait for a higher offer instead.
Before moving to close the deal when almost everything seems perfect, don’t forget to check on the buyers’ proof of funds acquisition.
8. Closing the deal
After you accept the best offer, your home gets taken off the market. Get done with all the documentation and the paperwork. Sign the deal, get your finances, give the key, and gladly step into the new chapter of your life.
The whole home selling process depends on how you plan and execute a series of actions.
The best thing that you can do as a first-time seller is to seek assistance from some professional real estate agency in Ireland. Doing so helps ensure that your property sale process goes seamlessly.
Eventually, you will get done with the deal and your months of hard work will be paid off in the best.