They're very easy steps to sell your home quickly, on this blog post. we're going to share with you. all you need to know before putting your home for sale and how to sell faster before the market crash.
If you're new in this blog. this is Gaddeva REB ( real estate business) blog where we bring updates on real estate market, new real estate marking ideas and all you need to know about real estate investment opportunities.
How to sell my home quickly, is a bone of contention for people who actually need urgent cash to sort out some things on their neck. it might be bankruptcy issue, internal revenue service personal debts and other financial crisis that can occur in ones life.
Selling your home in Nigeria and any part of the world with low market demand in real estate is hard thing to do, especially this current economy in the country. the home is luxurious it will face the problem of low ask price, if your home is just normal; to attract right buyers will be hard.
On this post you will get to know the few techniques to sell off your home in few days and pull your cash out on time to handle your financial reason of selling your home. the beautiful aspect is that you will sell it at your own good rate and not the market rate.
Table of contents
🔑 Get a real estate broker 🔑 Put your home on the market🔑 Adequate home set up and documentations 🔑 Power of social media
🔑 Conclusion
Get a real estate broker
A real estate Broker is sometimes called agent but there is quite some little difference. you are free to read our older post on how to find a real estate Broker. a real estate Broker is a middle man between your home for sale and the buyer.
There's a major problem why your home hasn't been sold ever since you decided to sell, people in Nigeria and some part of the world always seem to underrate the power of an Agent, Realtor or Broker in the real estate industry. although some issues arise on dealing with a Broker.
From the result of our questionnaires report, we're able to gather some key reasons why many people don't want to invite a real estate Broker to handle their investments.
⚓ Reasons people avoid real estate Brokers
- To avoid Broker's percentage.
- Privacy.
- Fraud.
- To avoid Broker's consultation fee.
- Time to get a a good broker.
In summary, some persons that wants to sell their home are always have those fear factor listed above in their head. those fears entails fear to lose some profit on their home selling price thereby trying to avoid the 5% fee a Broker which they will request after assisting to sell their home for them.
The privacy of some individuals matters so much to them more than the liquidating of their assets, some persons are afraid to let the world know that they really want to sell their home because of fear of being mocked, mistaken to be financially broke or poor, fear of losing their social status in the society. this can make some home sellers to avoid online publicity and assistance of a Broker.
Fraudulent act is rampant in Nigeria, home sellers (HS) try to avoid their home to be used as means to defraud people of their hard earned money by some bad real estate Brokers. the HS will only tell few friends about the home FSBO (for sale by owner).
Another reason people try to avoid Broker's assistance in selling their home, because some real estate Broker's do charge some amount of money before agreeing to list your home on their market FSBO. this consultation fee is non refundable whether your home is sold by the broker or not.
Some HS in Nigeria and some part of the world always face the difficulties of getting the right Broker to assist them in selling their homes because of quack, fake Brokers. inexperience with zero to less qualification, unregistered Brokers. how to find a good broker for your real estate business and real estate brokerage business in Nigeria is in our older blog, you can read for yourself for free.
⚓ Reason why you need a real estate broker
- Brokers Avoid Emotional Sales.
- Brokers Access Large Networks.
- Price Negotiations Take Skill.
- Exposure to Legal Risks
- Creating a Free Time For Other Things.
Brokers Avoid Emotional Sales
Selling your home is typically an emotional process. Having a Broker keeps you one step removed and makes you less likely to make stupid mistakes, such as overpricing your home, refusing to counter a low offer because you’re offended, or giving in too easily when you have a deadline for selling.
“A Broker can follow up without communicating a sense of eagerness or desperation; following up is their job,” says Ailion. “When a seller repeatedly checks, it signals, rightly or wrongly, the willingness to accept a lower price.”
If you forgo a Broker, you’ll also have to deal directly with rejection every time a buyer’s agent tells you that the client isn’t interested. “As the homeowner, it can be quite upsetting hearing some of the comments that are made by buyers and, oftentimes, their agents,” says David Kean, a realtor with Beverly & Co. in Beverly Hills, Calif.
Broker's Access Large Networks
Yes, you can list your home yourself on Zillow, Redfin, Craigslist, and even the multiple listing service (MLS) that agents use. But will that be enough?
Even if you have a large personal or professional network, those people will likely have little interest in spreading the word that your home is for sale. You don’t have relationships with clients, other Brokers, or a real estate agency to bring the largest pool of potential buyers to your home.
A smaller pool of potential buyers means less demand for your property, which can translate into waiting longer to sell your home and possibly not getting as much money as your home is worth. says Investopedia research on real estate.
Price Negotiations Take Skill
Some real estate Brokers have a masters degree on real estate marketing which builds their negotiating skill and ability to persuade a buyer to the actual amount the Broker is asking for. is not talent or magic is constant practice and acquired knowledge.
“Brokers know the pulse of the market and what’s driving demand, which gives them an advantage by knowing what terms are worth negotiating for and which are worth letting the other party win,” says Rob McGarty, owner and designated broker with Bushwick Real Estate in Seattle.
A broker will take control in making sure your home is sold at your given timeline. you as the owner of the house will spend some time with family, friends colleagues at work while the home marketing is going on. time is money don't forget.
Real estate professional Brokers will often suggest that sellers stage their homes on the market. That simply means you remove excess furniture, personal belongings and unsightly items from the home while it’s on the market, and arrange rooms for optimal flow and purpose. If you’re in a slower market or you’re selling a luxury home, investing in a professional home stage marketers could help you stand out. Nationally, professional home market staging costs around an average of $1,200, according to Home Advisor, but the range can be between $520 on the low end and on up to $2,000.
Exposure to Legal Risks
This is a process of observing legal protocol in selling your home. most HS make mistake due to ignorance of real estate laws which defaulted might incur some additional charges of taxes and property revenue levy on them.
Unless you’re a real estate attorney, your Broker probably knows more about disclosure laws than you do. If you fail to disclose a hazard, nuisance, or defect—and the buyer comes back to you after having moved in and found a problem—the buyer could sue you. Broker can make mistakes too, but they have professional errors and omissions insurance to protect themselves and give the buyer recourse, so the buyer may not need to pursue the seller for damages.
Creating a Free Time For Other Things
The most important reason of getting a real estate Broker is to have some time to deal with other things that matters to you without thinking much about how to sell your home, how to meet the buyer, buyer's email follow up, negotiating with buyers, facing rejections from people and other time consuming factors involves in selling your home.A broker will take control in making sure your home is sold at your given timeline. you as the owner of the house will spend some time with family, friends colleagues at work while the home marketing is going on. time is money don't forget.
Put your home on the market
To put your home in the market has different procedures, using online platforms, getting a real estate Broker or Agent as you wish, staging your home by yourself through FSBO. meeting people around. it could be your relatives, brothers, sisters and neighbors to tell them about your home for sale is a good strategy in putting your home in the market. the essence is to make sure that within your locality people are aware that your home if for sale and it's authorized by you.
Adequate home set up and documentations
Before putting your home on the market, you need to take not of something known as adequate home set up and documentations. this process involves setting up your proposed for sale home in order that if you happen to be the buyer you will go for it.Adequate home set up includes repairing and maintaining faulty materials especially in areas like living rooms, toilets/bathrooms, kitchen and master bedroom. making sure those areas are properly set up before listing your home on the market could be a plus to faster market sale.
The documentation of home for sale entails all the necessary papers concerning the home you wish to sale. get them ready, if need be laminate it. make sure all the documents are properly signed and are in the right positions as expected to avoid any contradiction during the deal closing.
A pre-sale home inspection can be a wise upfront investment, but it’s optional. A detailed pre-sale home inspection report can identify any structural or mechanical problems before you list your home for sale. It may cost a few hundred dollars, but an inspection will alert you in advance of issues that buyers will likely flag when they do their own inspection later in the process.
By being a few steps ahead of the buyer, sellers might be able to speed up the selling process by doing repairs in tandem with other home prep work. This means by the time the house hits the market, it should be ready to sell, drama-free and quickly.
Power of social media
The most craziest thing somebody can do in this 21st century is to underrate the power of social media. the lock-down taught us some lessons in the business world, the future of business is in the internet. here's the truth: if your business is not in the internet soon you will be out of business. the business of the 21st century depends on the internet.
Social medial is online platforms that gives us the opportunity to access unlimited access to large populations of people at a time around the world. take Facebook for instance, above 2 billion of the world population is on Facebook. imagine publishing the photos of your home for sale on Facebook that has above 2 billion users. isn't that convincing you might not need an agent to sell your home.
Make sure you have nice photographs of your home listing for sale on all social media platforms like Instagram, Facebook, websites e.t.c once you follow due process in publicizing your home online before some weeks the right buyer will locate you. that's the beauty of social media. it's powerful and economical please utilize it's strength in your FSBO.
Conclusion
In conclusion, we advise you today that if you have a home for sale due to some reasons best known to you, consider getting a real estate Broker to assist you in marketing your home; don't go solo. and if that is not working faster as you think. publicize a proper documentations of your home for sale on the social media platforms and other search engines so that people in diaspora can get to see it and contact you if need be.
To know the best rate to sell your home always work with your Broker to analyze the real estate current market value of your home for you, to know the best ask price to sell so that your home won't last longer than expected on the market. lasting long on the market will devalue the property and might result to selling below property value.
