Why use a Realtor?

When it comes time to sell your home many people often believe its as simple as putting a for sale sign in your front yard and sitting back while droves of people line up to view your home. However, if it were that easy everyone would be a real estate expert and home turnover would be phenomenal…basically, we would live in a perfect real estate world. Needless to say, we’re not in that world. According to the national association of Realtors eight out of every ten home sellers who go it on their own turn to a Realtor after the first thirty days. Likewise, those who are actually fortunate enough to sell their homes receive over 15 percent less from their homes. That drop in price would more than make up for the Realtor fee and alleviate the homeowner from having a lot of the stressed associated when it comes to showing the home, doing the paperwork, finding buyers, advertising, and negotiations. Like most careers people often think that they can do it because its so easy. Realtors are no exception in that their job is important and of great value to people when it comes to buying or selling a home.  I realize this post is brief, so I’ll update later with more statistics about for sale by owners.

When is the Right Time to Sell?

The real estate market, like commodities and the stock market has ups and down which can be measured in such standards as supply and demand. The market ultimately sets the price and creates either “buyers” or “sellers” markets. In a buyers market there is an oversupply of homes on the market in comparison to potential buyers, therefore it is harder to sell your home quickly, unless you’re willing to drop the price or make your property a diamond in the rough. On the opposite end of the spectrum is the sellers market, in which there are more buyers than sellers and prices are therefore shot up as buyers compete for properties. Although you’d think it would be best to sell in a sellers market, it actually doesn’t really matter. Whys that? Because if you’re purchasing another property you too will experience the sellers market conditions in which you will be purchasing the new home. As a result, the premium you are receiving for your home is eliminated with the new home higher price. Even if you wanted to wait until the market changed, it could be five to even ten years before the shift actually occurs. Do you have that much time?

Other factors to keep in mind when selling include interest rates, which are currently, in historical standards, low. Interest rates greatly affect how much you will be paying in the long run so make sure you shop around to find the most competitive rate from a reliable lender. Also, keep in mind what time of year you want to move. With winter weather conditions in Wisconsin the market is often noticeably slower in months such as November and December. To get more activity wait until the spring or summer as there are more buyers looking to move during these times. Remember that if you’re holding open housing in winter too, potential buyers will be dragging in snow and mud every weekend. Market activity may creep out of its winter hibernation as early as February so you can start to update or thoroughly prepare your home during that time to get ahead of the rush.

The following ideas of when to sell your home are important but thee biggest factor when selling your home is YOU. When you’re emotionally ready to sell your home, that’s the best possible time. This should be the first criteria you ask yourself, then follow up with the topics I have discussed above. Keep in mind that selling a home is no small task and if you have a sense of attachment with the property make sure you’re fully ready to let it go before you do. The market is constantly changing, but the point in which you can honestly say you want/have to move, is about the time your house should be put up for sale.