Our Silver Lake Real Estate Agents say one of the most difficult aspects of selling your home is all the unknowns:
- Who will buy your place, and for how much?
- How long will it take?
That UNKNOWN might make you particularly anxious to soak up advice from just about anyone who’s willing to share.
Our Silver Lake Real Estate Agents say the problem generally is, just because your sister or co-worker swear by specific rules that worked for them, it doesn’t mean they’ll be an easy solution for you, too.
The truth is, a handful of the Silver Lake Los Angeles Real Estate advice circulating out there is outdated, region-specific, or just plain wrong. As proof, check out this list of tips that many home sellers hear, then learn how these words of wisdom don’t always hold truth to them.
Silver Lake Real Estate Tips #1: List Your Home In The Spring
Most Silver Lake Real Estate Agents will tell you that January is a great listing month. Individuals are back from the holidays and ready to start looking. Well, at least in places that don’t have a nasty winter, such as Los Angeles, CA. Which makes a bigger point about real estate advice overall. Every market varies, and what’s incredible advice in one area can be terrible advice in another.
Besides, when it comes to choosing when to list a Silver Lake Home, there are two sides to the story. Busier times mean more buyers, but also more sellers and more competition.
Listing your home when inventory is low could attract the correct buyer right away. Life is unknown, and there will always be buyers looking in the “off season,” as well.
Silver Lake Real Estate Tips #2: You’ll Find Your Buyer At An Open House
Most Silver Lake Realtors will tell you that open houses are exciting, akin to a debutante ball where your home makes its fresh-faced appearance to scads of suitors all at once. And that’s fine, but don’t expect this to be the venue where you find “the one” who makes an offer.
While that can occur, open houses are more like parties, filled with swains who aren’t ready to settle down. Our Silver Lake Real Estate Agents say that serious home buyers will more often request a private one-on-one showing instead.
Of course, our Silver Lake Realtors say you don’t want to skip the open house completely. It’s an amazing way for individuals to browse, and hey, you never know. Maybe your nosy neighbor has a family member who would love to purchase your place after all. But it’s time to let go of the idea that an open house is everything when getting your ultimate home buyer.
Silver Lake Real Estate Tips #3: You Can Save Money By Paying Less In Commission
Reluctant to fork over the 6% commission that Silver Lake Real Estate Agents generally request to sell your home? Sure, that may seem like a lot of money, but what you might not realize is just how much work an agent does behind the scenes.
Our Silver Lake Real Estate Agents say that a handful of people don’t understand that an agent’s job is more than just listing the home on the MLS. Silver Lake Real Estate Agents’ commissions pay for their time and for marketing materials. Things such as
Posters, flyers, broker open houses, and yard signs all come from the money you pay your Silver Lake Real Estate Agent.
But other then that, “it gives your agent the power to offer money to other Silver Lake Real Estate Agents who have qualified buyers. That’s because the buyer’s agent and the seller’s agent split the commission.
In a perfect world, Silver Lake Buyers’ Agents would show them every property in their price range, no matter the commission, unfortunately it doesn’t always work that way.
So if there are a lot of properties on the market and you’re only offering 2% commission, there are Silver Lake Real Estate Agents who won’t show that property. Ultimately, you get what you pay for, and a higher commission can often justify itself in the sense that you can reel in tons of buyers, and (hopefully) ignite a bidding war that’ll fetch top dollar.
Silver Lake Real Estate Tips #4: Price Your Home High — And Hold Out For A Potential Home Buyer Who’ll Pay It
Of course you want to get the most you can for your property. Still, pricing it sky-high and hoping a gullible buyer will fall for this aspirational sum? Not a great idea!
Our Silver Lake Real Estate Agents say if you want to sell your property for a million dollars too, but I would be doing you a disservice to price it that way if the comps are saying $500,000. Home buyers are highly sensitive to overpaying, and will quickly steer clear. And the longer your house sits on the market, the more buyers will start to think something isn’t right and throw you a lowball offer.
The best way to avoid this debacle is to price a house right from the start—not too high, not too low—and then seriously consider any offers that roll in, even if they aren’t as great as you’d hoped. To get things going in the right direction, you can enter your address in a home value estimator to get a ballpark figure of how much your home is worth, then fine-tune that number with an agent’s help.
Learning What The Market Is Going To Look Like Next Year
Sure, it makes sense that true Silver Lake Real Estate professionals will make educated guesses to help assist buyers’ and sellers’ in the decision-making process. The operative word here is “educated.”
Our Silver Lake Realtors suggest that you be beware of ‘future’ predictions that don’t come from a reputable source. Sure, your brother-in-law or best friend might be trying to help, but keep in mind that their armchair philosophizing about the future of real estate is just an opinion—nothing more.