In the market to buy or sell real estate? Follow these tips from the people behind the HGTV program "Bought & Sold" to make the process easier.
1. Arranging an open house to attract potential buyers doesn't necessarily work. Nosy neighbors and real estate agents will be attracted to the event but not serious buyers.
2. Despite conventional wisdom, the smell of baking cookies does not make a home more appealing to potential buyers. To enhance the chances of selling a home, ensure that the home always looks and smells good, and is well-lit inside and out.
3. Hire a home-stager to help maximize your furniture and accessories. An expert can help rearrange these items to make each room look more appealing.
4. Flipping real estate is great, but be sure to hire an agent with house-flipping experience. First-timers should start with a smaller project to get familiar with the process.
5. Reduce the asking price if there are no takers within the first month. If selling the home is a top priority, reduce the price substantially. It lets potential buyers know that you are serious about selling.
6. A good listing agent can usually point out property damage, such as termites or asbestos, that could become an inspection problem.
7. Roofs, air-conditioning units, wet basements with drainage problems, and major structural issues such as dry-rotted or cracked support beams, are usually the most costly issues uncovered during home inspections.
8. Many people interview agents to list their home for sale but never consider interviewing them to help them look for a new home. Both endeavors are equally important.
9. Interview several real estate agents before selecting the one for you. It is important to meet with at least three. Don't feel obligated to accept the one that an agency assigns to you.
10. Don't ask your agent for predictions. In a fluctuating real estate market, no one can predict what will happen during the buying and selling process.
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