Navigating The Real Estate Market: Understanding The Process Of Selling Your Property

Home selling may just be as stressful as buying one. While you don’t have to worry about a lender’s pre-approval of your loan application, you certainly have to worry about the intended buyers and their interest.

Although many homeowners dream of a stress-free home sale process, it’s often not as easy as it sounds. To get started with selling a property in Tenerife, you need to understand the key aspects of the process and how they impact the entire sale timeline. You also need to consider other factors like your property’s location, valuation, real estate market condition at the time of sale, etc.

Find the important information you need about selling your home and the process involved below.

How to Sell

There are three main options to consider when selling your home. You can find an agent to outsource the trouble to, decide to sell yourself, or choose a cash home buyer. Each of these options has its pros and cons.

For most sellers, hiring a real estate agent is the ideal solution for their home sale worries. With a real estate agent on the job, they can sit back, relax, and wait for the house to be sold at the right price.

A lot goes into hiring the right real estate agent for your property sale needs. It’s better to consider important factors like years of experience, professionalism, reviews, customer service, and knowledge of the local landscape when choosing one.

Set a Timeline for Selling Your Home

No homeowner wants to leave their property listed on the market for long. The ideal situation is to list and sell within a 90-day period (as stated by most real estate agents). The alternative is to sell immediately, for cash, to cash home buyers. However, you may not be getting the right value for your home when you do this.

To get ahead of the curve, it is important to choose an agent early and start working on the sale at least two to three months before the intended sale period. You can speed up the process by getting a pre-sale inspection done and fixing common issues that could affect the sale.

Another pro tip is to stage your home about a month before the listing goes live. Doing this will help you beat last-minute rush while ensuring adequate preparation to move on once the sale is complete.

Make Upgrading Decisions

Buyers will often pay more for homes they don’t have to upgrade. In fact, upgrades are a great selling point for your home. However, you shouldn’t upgrade or fix everything.

The period between the pre-sale inspection and the actual listing is a great time to work closely with your agent to determine what needs upgrading. The biggest upgrades that can guarantee a return include bathroom and kitchen remodels.

Be aware that upgrades can sometimes be costly and may not add as much to the value of your home. It is important to weigh the pros and cons of each upgrade to determine whether it is worth it.

Get Professional Real Estate Photographs

Homebuyers are interested in visually appealing and aesthetic properties. The appearance and appeal of your property are the first two things to attract an intending buyer.

You can significantly improve the chances of selling your home when you get a professional real estate photographer to take the shots. You can also go the extra mile with videography services to give interested buyers a virtual tour of the property and its neighborhood.

The representation of your home can significantly impact the quality of buyers interested in your property as well as the price offer. You may be lucky to get a professional photography and videography service add-on if working with a professional real estate agency.

Set a Realistic Price

Pricing is a huge problem for home buyers and sellers. Buyers are constricted by the available loan amount while sellers want more for their property.

Price is one of the biggest factors that can affect how fast you sell your property. It is important to strip your decision of sentiments and biases. You can consult with your real estate agent on the value of your property or hire a property valuer to get a realistic value for your property.

List on the Market

With all the groundwork done, your property is ready to be listed on the market. Focus on creating a detailed online profile for your home, including nice photos, descriptions, and highlight the features and amenities prospective buyers stand to gain.

Determine the target market and find out what appeals the most to them. For example, selling homes to a young family could mean highlighting amenities like schools, healthcare access, access to local shops, and more. These are likely to get you more traction for the property.

Review and Negotiate Offers, Close

With the listing live, you may start getting offers from potential buyers who are interested in your property. Review the offers with your real estate agent to ensure all bases are covered. If everything checks out, close the deal.

It’s important to note that the above process can significantly take more or less time, depending on the market conditions. Work closely with a professional to ease the stress and improve your experience.