According to Triad Business Journal, Winston Salem has witnessed tremendous growth in the real estate market over the last decade, with the ratio of list to sale houses seeing a significant growth of 102.3%. Currently, as the city undergoes fast-paced development, more houses are being sold at a higher price.
If you are planning to sell your Winston Salem home, now is a good time to do so. However, you need to ensure that you list your property properly, to ensure that your house finds the right buyers. Here are a few tips to list and sell your home.
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Conduct detailed market research
Detailed research of the current market scenario in Winston Salem will help you understand the selling prices for houses similar to yours. Analyze the potential demand for your house, study the rates of similar properties in the neighborhood, the price differences, and buyer/tenant preferences. This will help you know your potential buyers and evaluate whether your property lives up to the general expectations as compared to other properties in the neighborhood.
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Consult a local real estate agent before selling your home
Hiring a real estate agent can save you time and money on the overall deal. Many homeowners think that selling on your own is possible through referral or independent listings, but you may end up over- or undercharging for the property. It can be better to get professional help, even if it means that you may end up having to include commission costs.
Experienced real estate agents can help you set the right listing price for your property. In addition, they can also help you evaluate all the other aspects of the sale, such as listing agreements, legal procedures, and managing buyers.
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Factor in the additional costs before deciding a listing price
Figure out and factor in the additional expenses you may incur while selling your home, such as agent commissions, closing costs, transfer taxes, and recording fees.
Depending on your Winston Salem rental property, you may need to invest in repairs and maintenance if required. This will ensure that you gain more return on your investment.
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List the house on popular listing websites and add an engaging description
Advertising and marketing are an unavoidable part of listing and selling your home, if you want to attract quality buyers. Use MLS (Multiple Listing Services) to find authentic and active buyers. Write a descriptive and engaging property listing and add high-quality photos of your house, listing all the highlights of your house that will attract your potential buyers. Connect with reputed real estate firms who have a wide network of buyers and can help your property get discovered easily.
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Stage the property for potential buyers
Staging will aid in showcasing your home’s best features and show buyers why it’s a good buy. One easy way to make your home more appealing is to declutter. Make sure you remove heavy and outdated furniture and clean up the space.
Make small repairs if required to highlight the best features of your house and make sure you have adequate lighting in and around the house. First impressions are key in attracting potential buyers.
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Negotiate wisely
Your asking price should be in line with the features of your residential unit, location, the area of the house, the prices in the neighborhood, and availability of amenities. You may take the help of your real estate agent in deciding a reasonable asking price for the property. Negotiation is always a part of the process so think of having two prices – one which will be your asking price and another which is the least price you can agree to. This gives you enough room to negotiate while ensuring that you do not sell your house at a loss.
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Have the major paperwork ready in advance
Once you have finalized the deal, legal documentation is the next step. Your real estate agent can help you draft the listing agreement which should include all details such as the seller’s name, sale price, address, contingencies, fixtures, and disclosures, if any, in the contract.
This is the process, in brief, of listing and selling your Winston Salem home. For any homeowner, selling a house is a huge decision, and hence, having expert financial and legal guidance is essential. At Capstone Realty Consultants, we provide our clients with in-depth market analysis and research, and guide them through the entire listing process, helping them find the right buyers for their properties. Contact us at Capstone Realty Consultants for more details.