You’ve Found “The Home.” Now What?

The long, tiring search is over and you’ve kissed a lot of frogs. You've finally found your dream home and want to make an offer on the property. How do you know how much to offer and if you’re getting the most value for your money in this Brandon MB market?

The offer phase of purchasing a home isn’t always straightforward and you need to at least know the market on homes in that area so you can determine if you’ll be getting the fair market value for that home. Ask your real estate agent to go through neighborhood  comparable actives and solds with you.  This report should be helpful with the offer process.

Lowballing is a common term in the world of real estate. It means that you’re offering to buy the house for a number that’s far below the market value. You run the risk of insulting the seller and losing the home for good.

But, if you don’t know the fair market value of the home you could overpay by thousands of dollars. To zero in on the market value of the home you’ve chosen, you should know if you’re in a seller’s or buyer’s market.

A buyer’s market means that there are plenty of homes for sale, but a shortage of buyers. This gives you more power to bid lower than the asking price and to even ask the seller to pay for some or all of the closing costs. In a buyer’s market, you’ll find the seller more willing to negotiate.

If you’re in a seller’s market, there is a shortage of homes for sale and you’re likely to have several potential buyers making offers at the same time. A seller’s market is a little tougher to negotiate in because you may need to compete with other buyers.

It’s sometimes devastating to a potential home buyer when their good-faith offer is rejected – especially without a counter offer. This could happen when the seller receives many offers and your offer was much less than the others. Or, the seller may back off of your offer to see if he can eventually get a better one.

All may not be lost, even if your offer has been rejected by the seller. The seller may not have accepted any offer on the home and you may still have time to negotiate by moving rapidly with a higher offer. This may result in a bidding war that your real estate agent will need to help you with.

A buyer’s agent is extremely helpful if you’re a first-time home buyer. He or she will be familiar with the local market and be able to negotiate the best deal on your behalf. You’ll learn a lot during this process, which may be helpful to you when you decide to sell.

If you’re working in a seller’s market and there’s a real shortage of homes in the area, you may still be able to get your dream home. Find a home you really love in an area you’re interested in and write a letter to the homeowner.

It’s a true leap of faith to try this method, but it’s worked for thousands of buyers and it just might work for you. Even if you receive a “not interested” reply, at least you’ll know you tried.

Never rush to make an offer in any market until you’re sure the home is right for you. Unless you do the proper research on the home, you may be rushing in to a situation that you’ll later regret.

Whether you live in Brandon MB, Virden MB or you're searching for acreages in these surrounding areas, the search can be strenuous and time consuming.  You can call on me to be your trusted go to REALTOR®, with insight on all new listings and recent home sales, within our local real estate market.

5 Marketing Strategies You Need to Sell Your House

Selling your house is exciting but often a long and challenging process. And marketing it is another ballgame altogether. But it need not be so tough, right? To make the marketing process easier for your house, here are the best strategies you can use to ensure you get a buyer as soon as possible.

1) Use the Right Photos

Most homebuyers begin their home search online and they judge every prospect by its pictures. So you need to upload excellent photos to pique their interest. Your images should not only be pleasing, but they should also give a good view of your home. Here are some tips to click the right photos of your home:

  • Photograph the front of the house without any vehicles or other things that obstruct the view
  • Click the exteriors from various different angles while highlighting the space and surroundings
  • Take photographs of every room with the drapes and blinds open
  • Ensure the pictures are of high resolution with good lighting

2) Post a Signage Outfront

When you want to sell your house, signages encourage the buyers to contact you as soon as they see the sign outside your home. You need to place a well-designed signage, though. Check with your homeowner’s association first as some of them do not allow real estate signs. You can even try talking to a neighbour whose house is located at an intersection, asking for permission to put a sign in their lawn with an arrow pointing towards yours.

3) Open Houses

You may hear people saying open houses are too old-school and not suitable for every home, but the only way to know is to try. If your house is located at the right location, buyers will swarm in, and you will be able to sell the house quickly. Let people know about the open house via newspaper listings or post it in the local social media groups.

4) Don’t Forget the MLS

Multiple Listing Services is one of the most effective ways to market your property, so use it. Listing your house on local MLS really gives your house an immense reach, making it easy for the buyers to find your home and contact you.

5) Host Agent Tours

If you want to draw agents to your home, since many buyers are represented by their agents, you can host agent tours. Here, agents will come to check out your property. The benefit with this when you sell your house is that the more the agent lingers in your home, the more details they will remember and later describe to their buyer. Trust us, sandwiches and a glass of water suffice for most agent tours.

Let Us Do the Work for You!

The easiest solution? Let us do the work for you. Going through the above tips can ensure you sell your house quickly, but it can be time-consuming. Instead, you can get in touch with Chris Low Realtor. We can help you market and sell your house most efficiently, so you get a buyer soon who pays you the right amount for your property. Get in touch with us to know more.

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