James E. Cumisky's Blog
Many sellers rely on agents to help them to deal with the task of selling their home. If you’re looking to buy or sell a home, a real estate agent isn’t required. There are many advantages and disadvantages to selling your home as a “For Sale By Owner” (FSBO). Read on to discover the good and bad of selling your home on your own.
Avoid Paying Commission
Real estate commission is the main reason that many sellers choose to go it alone. You’ll pay about 6% commission on the sale of your home between buyers and sellers agents. When figuring out the asking price for your property, this number that you’ll pay for a commission is included. This sale price also should be enough to pay off the remaining balance on the property. If you don’t have a lot of equity in your home, an FSBO may be your only option if you can’t afford the commission. Another option is to wait to sell your home until you have built up enough equity for the transaction to make sense for you.
You Can Find Other Resources To Help You Sell The Property
There are so many resources available to FSBOs in today’s market. Yards signs aren’t the only thing that sellers can use to get people interested in their property. Many websites and resources assist people taking the FSBO approach. You still may not be able to get your property listed everywhere if you’re not a real estate agent.
You Won’t Be Able To List The Property Fully
Only licensed real estate agents have access to the MLS, where buyers' agents and other websites pull available properties. Not having access to this can be a deterrent to the marketing of your home. You could miss out on getting many home showings that you otherwise would if your house was listed on the MLS.
There’s No One To Help You With Paperwork And Negotiations
Real estate agents certainly earn their commission. There is a lot of work in both selling and buying a home. If you hire an agent, he’ll be taking phone calls, sending off forms, and dealing with the negotiations on the property. An agent will also coordinate home showings and have the ability to show your property when you’re unavailable. If you go it alone, you won’t have that assistance and may be a bit overwhelmed during the selling process.
A real estate agent also understands the lingo better than someone who has been outside of the business. There are many advantages to paying his fee if you decide to hire him for the sale of your home.
Although some families are more organized than others, most homes are plagued by at least a moderate amount of clutter.
While it may seem like only a minor annoyance, household clutter can have a major "ripple effect" on several aspects of your life. Disorganization and clutter can be insidious problems for homeowners to deal with because its impact is not always obvious.
When you stop and think about it, having a cluttered home can take a heavy toll on everything from your finances to your family relationships. Here are a few reasons to set aside some time, this month, to begin decluttering your home.
Time and Money: One of the most frustrating experiences in life is to try to find a misplaced tool, an important document, or anything you might need to complete a task, solve a problem, or meet a deadline. When you add up the hours you and your family spend on searching for items that are stuffed in drawers or buried in closets, it becomes increasing clear why everyone's productivity is down and stress levels are up. You may have also noticed that you're spending money on personal and household supplies that you already have somewhere in the house.
If you've lived in your home for more than a few years, you've probably accumulated stacks of clutter in every imaginable storage space. Three ways to drastically reduce the amount of clutter in your home in a relatively short period of time is to either sell, donate, or throw away things you no longer need. The first step, of course, is to sort through your belongings to separate what's useful from what's just taking up valuable space.
Although organizing a garage sale can be a time-consuming activity, the benefits can far outweigh the time and effort involved. Preparing for a garage sale not only results in finding valuable things you forgot you even had, but your home will end up feeling cleaner, more spacious, and more welcoming. As long as you don't hold a garage sale every year, it can be a fun and profitable family activity.
Another alternative to storing things at home that you no longer need or want is to donate them to a charitable organization, such as The Salvation Army. Churches, veterans groups, and other community organizations often accept donations of clothing, furniture, electronics, appliances, and other household items. Making a few trips to nearby clothing collection bins is another way to unclutter your closets and pass along useful things you no longer need.
One type of clutter you can neither sell nor give away is "junk." If you have enough of it, you might consider renting a dumpster or calling a reputable, reasonably priced junk hauling service. Regardless of the method you use to get rid of things you no longer want, you'll be amazed at how energizing it can be to restore order, cleanliness, and a sense of pride to your living space!
If plans for selling your home are in the near future, you’re going to want to start strategizing the most cost- and time-effective ways to make your home irresistible to potential buyers. One of the most proven ways of giving your home the edge it needs to stand out from the competition is good photography and attractive staging.
In today’s post, I’m going to share my tips on home staging that can be achieved on a budget and in a short period of time. That way you can focus more time on finding a new home and stop worrying about selling your current one.
Tip 1: Start packing
Before you start worrying about arranging furniture, it’s important to make sure you have a clean slate to work with. Start by packing personal effects into boxes and labeling them accordingly.
Staged homes are homes that look appealing to the widest audience as possible. Having personal reminders, like family photos, trophies, etc., makes it harder for viewers to picture themselves living in the home.
Most of us keep our homes arranged in a way that is convenient to our lives. And. let’s face it--life can be messy. But, when it comes to staging, less is usually more.
Not only will this cleaning process help you reduce clutter and make the home look better for staging, but it will also make your moving process easier since many of your boxes will already be organized and sealed.
Tip 2: Color scheming
Expertly staged homes tend to have one thing in common--a cohesive color scheme. Think of choosing your color scheme like creating an artist’s palette. You want a few colors that compliment one another and that will work together to brighten up your home.
If you have any furniture that appears worn, dated, or that clashes with the scheme of the room, it’s a good idea to place them in storage while you prepare for photographs and visitors.
Tip 3: Decorate sparingly
Now that you’ve packed away your family photos, you might be wondering what to put on the walls in their place. The best answer is often nothing. However, that doesn’t mean the walls need to be completely bare.
For smaller rooms, you can make them appear more spacious with the use of hanging mirrors (just make sure you can’t see yourself in any of those mirrors when you take your photos!).
Tip 4: Don’t forget the outside of your home
The value of curb appeal can’t be overemphasized. The exterior of our homes, along with our yard and driveway, are essentially what we show the world about our lives. Since most home buyers want their house to look nice, fit in with the neighborhood, but have its own unique flair all at the same time. They want to know that your house has that potential.
Furthermore, the driveway and yard are two of the first things people see when they visit. You’ll want to take advantage of this moment by making a good impression.
Let's face it – the thought of entering the home selling market can be stressful, even if you don't plan to put your house on the market for several weeks or months. However, there are many simple ways to ensure you can enjoy a fun, exciting and successful home selling journey.
Now, let's take a look at three tips that you can use to kick off an unforgettable home selling journey.
1. Examine Your Home's Interior and Exterior
How will a potential homebuyer view your residence when he or she sees it for the first time? This is a question that you'll want to consider closely, as a homebuyer's first impression of your residence may dictate whether he or she moves forward with an offer.
Take a close look at your house's interior and exterior from a homebuyer's perspective. If home improvements are necessary, now may be the ideal time to complete these tasks. That way, you can enhance your house's interior and exterior before you add your residence to the real estate market.
Also, a home appraisal may help you identify problem areas with your residence. This appraisal enables a property inspector to examine your residence from top to bottom and can help you better understand your house's strengths and weaknesses.
2. Declutter Your Residence
Unfortunately, clutter can accumulate in a home over an extended period of time. But if you start decluttering your home today, you may be able to avoid the stress of cleaning out your residence as you get closer to adding your home to the housing market.
To declutter effectively, consider items that you need to keep and store them safely. Then, take the items that you no longer require and consider all of your options to get rid of them quickly and safely.
In many instances, you can sell excess items or donate them to charity. Or, you can always offer these items to family members and friends as well.
3. Meet with a Real Estate Agent
What does it take to get your house ready for the real estate market? Meet with a real estate agent, and you can learn everything you'll need to know about selling a house.
A real estate agent understands the ins and outs of the real estate market. As such, he or she can answer any questions that you may have about the home selling journey and help you plan accordingly.
In addition, after you list your residence, your real estate agent will streamline the home selling cycle. This housing market professional will set up home showings and open houses, promote your residence to large groups of potential buyers and much more. By doing so, your real estate agent will do everything possible to help you maximize the value of your residence.
When it comes to getting ready to sell your home, there is no need to worry. Instead, use the aforementioned tips, and you'll be able to enjoy a memorable home selling journey.
Purchasing a home should be fun, memorable process. However, many homebuyers struggle with fears as they embark on the process of acquiring their dream homes.
Some of the most common homebuying fears include:
1. I will pay too much for a house.
Overspending on a house is a common fear among homebuyers nationwide.
If you pay too much for a house, you may struggle to afford the monthly payments for the duration of your mortgage. Perhaps even worse, your house may lose value over time. And if you eventually decide to sell your home, you may be forced to accept less than what you initially paid for it.
Ultimately, an informed homebuyer will understand the differences between a buyer's market and a seller's one. He or she will be able to determine whether a home is affordably priced and proceed accordingly.
An informed homebuyer also will know the importance of getting pre-approved for a mortgage. With a mortgage in hand, this homebuyer will understand exactly how much that he or she can spend on a house.
2. I'll wait too long to submit an offer on a residence.
If a homebuyer is uncertain about buying a particular house and waits too long to submit an offer, he or she risks missing out on this residence altogether.
Fortunately, there is a simple way to avoid this problem.
A homebuyer who knows what he or she wants to find in a dream home can narrow a home search. Then, if the homebuyer discovers a home that matches or exceeds his or her expectations, this individual can submit an offer right away.
Don't forget to submit a competitive offer, i.e. one that accounts for the needs of both a homebuyer and home seller, as well. A competitive offer will stand out from other proposals and increase a property buyer's chances of securing his or her dream residence.
3. I'll buy a home that will fail to maintain its long-term value.
What you pay for a home today is unlikely to remain the same over the course of several weeks, months or years. But a homebuyer who employs an expert home inspector can learn about a house's strengths and weaknesses and ensure a property is a viable long-term investment.
A home inspector will conduct an assessment of a house after a property seller accepts a buyer's proposal. At this point, an inspector will examine a house's interior and exterior and identify any potential issues. Lastly, a home inspector will issue a report with his or her findings, and a homebuyer will have a final opportunity to modify or rescind an offer on a house.
For homebuyers, it is important to work with a trusted home inspector – you'll be glad you did. This home inspector will go above and beyond the call of duty to evaluate a house before you finalize a home purchase.
Working with an experienced real estate agent may benefit a homebuyer too. With a top-notch real estate agent at your side, you can get the support you need to acquire a first-rate home that will maintain its value both now and in the future.