Bo Lee - Coldwell Banker Residential Brokerage

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Posted by Bo Lee on 1/24/2021

If your home is on the market, you may wonder why it hasn’t moved off the market. There are many ways to make adjustments to the price of your home, but if not done correctly, you could sabotage the sale of your home. Let’s say that you have your home as an FSBO (For sale by owner.) Buyers may wonder what’s behind the price of the house. Does the seller genuinely want to move the home to the sold category quickly? Why has the home been for sale so long? 


You could face the same problems if you’re working with an agency. The difference is that s a seller, the agency is by your side, helping you to make the right decisions when it comes to pricing your home.


Realistic Expectations


You need to be realistic when pricing your home as a seller. Of course, you want to make a return on your home. Of course, you think your home has great value. The critical point is that you need to understand the state of the market along with the neighborhood your home is located. So much goes into the pricing of a house. 


Investigate


Along with your agent, you can do some investigating to see where some improvements could be made in marketing your home. Look at the following:


How has the house been received on the MLS?

Are the significant benefits of the home highlighted?

How many open house opportunities did buyers have?

Are there good pictures of the house online? 

Do the signs leading to the house stand out? 

Can you add anything to the marketing of the home like a virtual tour? 


While real estate agents have general guidelines as to how a home at a certain price point should be marketed, you can always be your own advocate.


The Consequences Of High Pricing


If you price your home too high, there are some consequences. Your home will stay on the market for an extended period of time if it's overpriced. Buyers will wonder why the house has been listed for so long, wondering if there’s something wrong with the property. Buyers will wait even longer to bite on the home in these circumstances because they are waiting for a price drop. 


The Solution


The best thing you can do in this circumstance is to take your home off the market. Work with your real estate agent. He can let you know whether it’s a good time to re-list the home. Perhaps you can make some improvements to the property in the meantime. A fresh listing and a clean look at the house may help buyers to find the property more easily at a price that pleases them!      




Categories: house prices  


Posted by Bo Lee on 1/17/2021

The home selling journey offers no guarantees. Thus, if you fail to prepare to sell your house, you risk encountering problems that may make it tough for you to maximize your home sale earnings.

Ultimately, there are many things you can do to avoid a complex house selling journey. These include:

1. Price Your Home Competitively

The initial asking price for your home may dictate your house selling success. If you set an aggressive initial asking price for your residence, you may be better equipped than other sellers to enjoy a seamless house selling experience.

Oftentimes, it helps to review the housing market in your city or town. If you evaluate the prices of available houses in your area that are similar to your own, for instance, you may be able to determine a price range for your house.

You also may want to conduct an appraisal before you list your residence. An appraisal enables you to obtain a property valuation that could help you set a competitive initial asking price for your home.

2. Upgrade Your Home's Curb Appeal

How your home looks to buyers may have far-flung effects on the house selling journey. If your residence boasts amazing curb appeal, you could accelerate the home selling journey and boost the likelihood of getting the best price for your residence.

To bolster your home's curb appeal, it generally is a good idea to mow the lawn, fix any damaged siding and perform other house exterior upgrades. Of course, if you need help with home exterior enhancements, you can always reach out to local house improvement professionals for assistance.

3. Work with a Real Estate Agent

A real estate agent knows what it takes to promote a home to the right groups of buyers, along with ensure a seller can optimize his or her property sale earnings. Plus, a real estate agent takes the guesswork out of navigating each stage of the house selling journey.

Let's not forget about the home selling guidance a real estate agent can provide, either. If you are uncertain about how to price your house, for instance, a real estate agent can offer a data-driven recommendation. Or, if you are searching for quick, easy ways to enhance your home's curb appeal, a real estate agent is happy to provide you with home exterior improvement tips.

In addition, a real estate agent is an expert housing market resource. He or she is prepared to respond to your home selling concerns and questions at any time. And if you are worried at any point during the home selling journey, a real estate agent will work with you to alleviate stress, too.

Navigating the home selling journey can be difficult, regardless of whether you are an experienced or first-time house seller. Thanks to the aforementioned tips, you can streamline the home selling journey. Perhaps best of all, these tips could make it easy for you to enjoy a fast, profitable home selling experience.





Posted by Bo Lee on 1/10/2021

Let's face it – no condo seller wants to deal with a high-pressure negotiation. Lucky for you, we're here to help you streamline the process of selling your condo so you can avoid stressful negotiations with property buyers.

What does it take to remain calm, cool and collected during a negotiation with a condo buyer? Here are three tips that every condo seller needs to know.

1. Consider the Condo Buyer's Perspective

As an informed condo seller, it is important to consider both sides of a negotiation. By doing so, you can evaluate a condo buyer's perspective and plan your next move accordingly.

For condo sellers, the goal is to get the best price for a property. As such, a condo seller who performs extensive housing market research probably understands the true value of his or her residence.

On the other hand, a condo buyer is likely to conduct real estate market research on his or her own. This property buyer also will assess the current condition of a condo in relation to his or her budget and submit an offer that accounts for these factors.

Ultimately, a condo seller and buyer should try to find common ground. That way, both parties can work together to get the best results out of a negotiation.

2. Review All of Your Options

After a condo seller accepts a buyer's proposal, the next step likely involves a property inspection. At this point, a condo acquisition may move forward, or a condo seller might need to rethink his or her plan.

If a condo inspector discovers myriad problems with a property, a condo buyer may ask the seller to complete repairs or lower the price of the property. Meanwhile, a condo seller will need to review all of his or her options quickly.

Following a condo inspection, it is important to consider the results of the evaluation.

If a condo seller discovers major repairs are required, he or she should consider completing the repairs or lowering the price on a property.

Or, if a condo buyer asks for a major price reduction even though only minimal repairs are needed, a seller should be unafraid to say "No" to the buyer's requests.

It is important for a condo seller to feel comfortable with any decision that is made throughout the property selling cycle. Thus, if a condo seller is uncomfortable with completing property repairs or reducing the price of a residence after a property inspection, he or she should be ready to decline a buyer's demands.

3. Consult with a Real Estate Agent

A real estate agent will handle negotiations between a condo seller and buyer. Therefore, this housing market professional can play a pivotal role in a seller's ability to get the best price for a condo.

Consulting with a real estate agent who possesses condo experience is key. This real estate agent can keep you up to date during negotiations with condo buyers and ensure you are fully satisfied with the final results.

Take advantage of the aforementioned tips, and you can move one step closer to maximizing the value of your condo.





Posted by Bo Lee on 10/25/2020

As a home seller, it is crucial to do everything possible to get your residence "buyer-ready." In fact, if your house dazzles a buyer, you may be better equipped than ever before to optimize your home sale earnings.

Ultimately, it can be quick and easy to get a house buyer-ready – here are three tips to help you prepare your residence for prospective buyers:

1. Bolster Your House's Curb Appeal

When a potential buyer goes past your home, you'll want your residence to make a great first impression. And if your residence has outstanding curb appeal, a prospective buyer may choose to set up a property showing right away.

To improve your house's curb appeal, you should mow the front lawn, trim the hedges and do whatever it takes to make your residence attractive to potential buyers. Of course, if you need extra help to bolster your home's curb appeal, you may want to employ professional contractors as well.

2. Remove Clutter

Antiques, paintings and other décor may help you transform your house into a home. However, these items may do more harm than good when you try to show your residence to prospective buyers. And in some instances, various personal belongings may make it tough for you to show off the true size and beauty of your residence.

It generally is a good idea to remove as much clutter as you can from your residence. Remember, your goal as a home seller is to make it simple for a buyer to envision what life may be like if he or she purchases your house. If you eliminate clutter from your residence, a buyer should have no trouble imagining what life may be like as the owner of your home.

3. Clean Each Room of Your Home

A neat, tidy home is sure to impress prospective buyers. Thus, if you allocate time and resources to clean each room of your house, you could boost the likelihood of a fast, profitable home sale.

Oftentimes, it helps to hire a professional home cleaning company. With this company at your disposal, you can get the help you need to improve the appearance of each room of your home.

As you get ready to add your house to the real estate market, you also may want to hire a real estate agent. This housing market professional is happy to help you get your house buyer-ready, as well as prepare for each stage of the property selling cycle.

A real estate agent will offer expert guidance throughout the home selling journey. He or she will provide recommendations and tips to help you showcase your residence to the right groups of prospective buyers. In addition, if you ever have concerns or questions during the home selling journey, a real estate agent is ready to address them.

Get your house buyer-ready – use the aforementioned tips, and you can improve your home's appearance and increase your chances of enjoying a seamless property selling experience.





Posted by Bo Lee on 10/4/2020

There is no set amount of time that you will need to allocate to sell your residence. In certain instances, a seller can generate lots of interest in his or her house and receive an offer to purchase within one day of listing a home. On the other hand, a seller sometimes requires many weeks or months to stir up interest in his or her home.

Ultimately, you should strive to commit as much time as you can to sell your home. If you do everything possible to promote your residence to potential buyers, you could reap the benefits of a fast, profitable house selling experience.

There are many things that a seller can do to ensure a seamless home selling experience, and these include:

1. Improve Your Home Both Inside and Outside

Remove clutter from inside your home – you'll be happy you did. In addition to making it easy to show off the true size and beauty of your home, eliminating clutter could help buyers envision what life may be like if they purchase your house.

Meanwhile, your home's curb appeal can make a world of difference during the property selling journey. If your house boasts a stunning front lawn and other exceptional home exterior features, your home may be better equipped than ever before to make a positive first impression on prospective buyers.

2. Establish an Aggressive Initial Home Asking Price

Take a look at the prices of comparable houses in your city or town. In addition, evaluate the prices of recently sold houses in your area that are similar to your own. This housing market data may help you establish an initial home asking price that falls in line with the current housing market's conditions.

Furthermore, it may be beneficial to conduct a house appraisal. With an appraisal report in hand, you'll have a property valuation that you can use to establish an aggressive initial asking price for your residence.

3. Hire a Real Estate Agent

A real estate agent is an expert guide for selling homes. He or she can help you list your residence, promote it to prospective buyers and much more.

Of course, let's not forget about the assistance that a real estate agent provides at each stage of the property selling journey, either. A real estate agent will help you create a house selling strategy and put this plan into action. He or she will be ready to respond to any of your home selling concerns or questions too. And if you're unsure about how to proceed at any point during the house selling journey, a real estate agent can provide property selling recommendations and suggestions.

For those who want to add a house to the real estate market and streamline the home selling journey, it may be a good idea to hire a real estate agent. By collaborating with a real estate agent, you can get the support you need to quickly navigate the home selling journey.







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