Discover How To Take The Stress Out Of Selling Your Property

Man Reviewing Documents

Man Reviewing DocumentsWhen you are a real estate redeveloper, your work is never complete until you make the sale. Even when you do everything right, the real payoff only comes when you find a buyer. Up until this point, stress is inevitable and sometimes that may cause you to make decisions that you would not normally make otherwise. Regardless of if you are selling an investment property or a primary residence, knowing the right steps before jumping into the deep end can help you stay afloat and help you to discover how to take the stress out of selling your property…

Pick the Right Sales Agent.
You should begin the selling process with a real estate agent. If you consider doing a for sale by owner, then you should know that this is a rookie move that will likely only lead to more trouble than it’s worth. The commission that you may save will likely not even offset the devalued sale price a good agent should be able to solicit and even if it comes close, it is simply not worth the time that you will spend marketing and showing the home, which will take even more money out of your pocket.

A good agent knows the market, knows how to market your property and knows how to close the deal without any hang ups. Knowing the right list price is a key component to landing a sale. There are many factors that go into deciding how much to sell a property for, some of which include location, convenience to amenities such as shopping, food and entertainment as well as school districts. If you do not know the area well, attempting to do this alone is basically setting yourself up for failure.

It is also to remember that not every agent is equipped to make sales. They may be able to find homes for clients, but often times they may not be polished as the ins and outs of property listings. This is why it is so important to go on interviews with agents before you pick the one that may be right for you. Choosing the wrong agent will waste their time but more importantly it will waste your time – and cost you money in unnecessary holding costs!

Let the Agent Do Their Job.
You hired an agent so that you could relax, move the property and get on with your life. If you’re constantly calling your listing agent, you are likely wasting your time. An agent’s very job is dependent on making sales so if there is any news…you can rest assured that you will know about it.

It is, of course, ok to check in to ease your mind and lean on your agent to guide you as you move through the buying process…especially as it progresses to serious offers. If you are having trouble moving the property, you may want to talk to your agent about when the right time is to offer a price drop in hopes of selling the property quicker.

Avoid Emotional Triggers.
It is often times a tough task to keep emotions under control. After all, the process of flipping is quite the emotional journey, especially if you’re new to it. However, you are going to have to learn to not take things personally. Do not let below asking price offers leave you insulted. Always be willing to consider a counter offer.

Additionally, if a buyer has some critiques of your listing, you cannot let it impact whether or not you are willing to sell to that buyer. Do not lose track of the fact that you are not looking to make friends. You are trying to sell a property and need to keep your eye on the prize.

Aside from negative emotions, there is also the emotion of empathy. It can be difficult to separate yourself from a family who really wants the home… but has a shaky pre-approval that leaves you needing to explore other offers. Remember to stay neutral. It is not always easy, especially when a buyer is likable. Choosing to remain neutral now will save you a lot of heartache and stress later on.

Do Not Attend Showings.
If you decided to get an agent, you really do not need to show up to listings. In fact, it makes buyers uncomfortable. They may be afraid to be honest with the agent if you are around and this can even lead to leading you on. They may express interest that is not genuine simply to keep from hurting anyone’s feelings.

If you want to get feedback, get it from the agent. They can tell you if there is a common reason that buyers are turning away from the property. This will give you room to make improvements that you may not know are working against you.
Always Have a Backup Plan.

Stress comes from the unknown and while you cannot avoid that, having a back up plan can help you to feel more at ease. This will give you an idea of what you may do in an unexpected situation. Often times it can actually help to write out a sales plan. For example, if you do not sell the property within a certain amount of time you will reduce the price to a certain number of dollars. You may also want to have an idea of rental prices in the area in case you are reduced to needing to go this route while you attempt to sell the property.

Renovating homes is never stress-less, but being prepared is half the battle. If you take the time to prepare yourself, you may fall in love with the process…and next time, you could have positioned yourself to know exactly what to expect.