Denver real estate is often frustrating to navigate if you feel under a lot of pressure to sell your home quickly. It can be tempting to take offers you might otherwise refuse if you were in a better position. However, if you play your cards right, there will be less pressure to compromise. Here are a few tips to aid you in being a savvy seller:
Agents ask a lot of questions about your home and your reasons for selling it. They are trained, not just to sell your home, but to do so quickly. Your home becomes a less profitable commission for your agent the longer it is on the market, so waiting for a higher price is not always in their best interest
If you have a motivation to sell quickly, in the event you’re falling behind on your mortgage, getting a divorce, or moving for work, sharing that information with your agent may enable them to pressure you into a quick sale, even if it won’t benefit you. There are many people prepared to buy a house in Denver.
As a seller, you may not realize it, but you do not just have to negotiate with prospective buyers. You have to strategize with your agent too.
You may feel sharing personal information about yourself and your history will be advantageous to you. Actually, it can hurt more than help. It is inevitable your agent or a buyer will ask why you want to sell. Keep your answers short and uninformative like:
Have a pre-planned answer for the question. Do not give your agent, the buyer’s agent, or the buyer anything to use as leverage. Never indicate a desire to sell quickly.
When you are falling behind on your mortgage the bank can be your ally. Sometimes people feel there is not much to say to the bank in these circumstances. However, banks are highly motivated to prevent losses and collect their money. If you speak with the head of loss mitigation and make it clear you are selling, they may work with you.
The absolute best approach with the bank is to be straightforward. Again, not giving your life story, but making it clear you are placing the home on the market and would like time to garner the best sales price. Focus on the benefit to them as a lender, and not your needs. When attempting to sell your house fast Denver can be a tough market. Foreclosures and short sales are not as expedient or lucrative as a regular sale, so banks will often work with you to give you more time.
Often in situations like divorce, buyers feel they have a prime opportunity to make a lower offer the seller. Since money is involved, don’t rush into agreements. A good attorney should be at your side to help negotiate agreements. In any situation, this will give you adequate time to sell your home for the most profit.
At the end of the day, how a buyer feels about your home is what will sell it. Home purchases, outside of investment, are overwhelmingly emotionally based decisions. You can try to explain the wonderful aspects of your home, but if a buyer does not love it, your chances of a sale will not improve.
It can be tempting to talk about all the assets and perks your home has that make it worth the money you are asking. But, resist the urge as it sends a message desperation. In fact, it is better you not be present for showings. Situations where you may be asked questions about the home, move date, motivations, or sale are ones you should avoid. Allow buyers to come to the desire to buy your home on their own.
If you need to have your agent work harder and faster to meet your needs, there is a proper way to achieve it. Offer your agent an incentive. For example, name a price and a date. If your agent can sell the home by that date and above the stated price they are rewarded with an additional ten to 20 percent on every dollar over the base goal.
It is not necessary to disclose to your agent the reason you would like to incentivize a certain date or amount. If you must give an explanation, a simple answer is that it is mutually beneficial to get the best price timely. Remember, agents do not want your home to stay on the market any more than you do.
If you must be vocal about something, be vocal about having an alternative plan. This is a great strategy to have when dealing with buyers and your agent. It is also a good strategy for you. Sometimes the market just isn’t ideal for selling quickly.
Truly have a backup plan in the event you cannot sell your home. For example, consider if your home can be used as a rental. Colleges will often reserve homes for visiting professors, and students will often share accommodations. It is good for a buyer to know they are not your only option.
Especially be vocal about your back up plan with your realtor. They are driven by a desire to earn their commission. If you back down from selling your home, they won’t get paid for any work they have done. It will act as an encouragement for them to be proactive.
Use one or all of these tips to bolster your chances of selling your home at a fair price. Have a plan, be firm, and do your research. Remember that in a home sale, everyone has individual interests in seeing the sale happen. So you need to be your own advocate.
As mentioned before, when you need to sell your house fast Denver does have many great opportunities. Yellow Brick Walk is prepared to pay cash for your home. For professional help navigating Denver real estate call us today at (720) 600-4669.