A Homeowner’s Guide To Selling A Property In A Post-Pandemic World
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The recent pandemic has significantly changed businesses and people’s lives, including the real estate business. COVID-19 stirred many people’s interest in real estate properties, opening their minds to shifting from urban to rural living while taking advantage of work-from-home career options for health and safety. Furthermore, many real estate investors have realized the value of leveraging the economic crisis to grow their residential rental investments by buying low-priced properties. In the ever-changing landscape of real estate, homeowners in a post-pandemic world are seeking new opportunities. If you're considering selling your property, our comprehensive guide can provide valuable insights. And if you're looking for Valdosta GA homes near homeschool co-ops, explore the listings available at eXp Realty to find the perfect match for your needs.
But if you’re a private seller, how can you sell your property in the new era or time after the pandemic? Read this homeowner’s guide for your reference to learn how to sell a property in a post-pandemic world.
1. Hire A Realtor To Sell Your Home
You probably typed in ‘why hire a realtor to sell my home?’ or have run a similar query on a search engine to sell your home after the pandemic. Hiring an experienced realtor who knows your market to sell your home is one of your best options. In that way, you can benefit from local brokerage and national results.
Professional realtors have learned to embrace the rapid market changes during the pandemic crisis. They have developed and implemented innovative marketing strategies to sell properties despite the community lockdowns, quarantines, and other health and safety protocols that required social distancing.
In the post-pandemic world, many realtors are ready to face new challenges. Many property management services have established local and online presence to become more competitive and beat their local and global brokerage competitors. Some experienced realtors offer professional online advice through blogging to build authority and attract more potential clients.
Aside from creating their own websites, they have also introduced advanced online tools, such as an instant value tool for sellers to obtain instant information about their property values and compare them with listings in their local area. Property sellers can also request a customized consultation online.
That said, here’s how you can sell your home in a post-pandemic world with the help of a realtor:
- Step One: Find A Realtor
One way to find a local realtor is to search online by typing in ‘realtor in (name your city or state)’ on a search engine. You can get realtor referrals from relatives and friends too. Moreover, yellow directories, online business directories, and real estate organizations are also credible sources of this information.
- Step Two: Compare Credentials And Services
Once you have a shortlist of realtors or real estate firms in your area, research each option and compare their services. Find out their credentials, marketing strategies, and commission rates. Don’t hesitate to call a representative and book an interview with your prospective realtors.
- Step Three: Make A Decision
After the interview, you can choose the right realtor to work with to help you sell your property. But before you sign anything, read the terms and clarify any concerns, such as the length of listing, home tours, and how soon you can obtain a buyer.
2. Sell Your Home To A Cash Buyer
Many homeowners who want to sell their properties quickly after the pandemic choose to transact with cash buyers or cash buying companies. Other names include ‘as is’ buyers, ‘for cash’ buyers, or real estate investment firms. Unlike a traditional property sale, cash buying involves buying properties in their’ as is’ condition.
Homeowners who want to sell their properties to ‘as is’ buyers don’t have to make any staging, inspection, or repairs. They don’t need to list their homes on classified ads or online marketplaces. Because cash buyers usually flip or buy and sell properties, they want to close deals as soon as possible. On the other hand, sellers get their cash fast and move on with their lives in a new neighborhood post-pandemic.
Dealing with a cash buyer can help you save money from listing, staging, inspection, and other expenses and tasks associated with a traditional home sale. You can also save time and effort entertaining demanding home buyers. Once you accept the cash buyer’s offer, you don’t have to worry about the buyer backing out of the deal.
Here’s how you can sell your property to a cash-buying company in a post-pandemic world:
- Step One: Visit The Cash Buyer’s Website
Many cash buyers are established real estate investment firms. So, you can visit their website to initiate a sales transaction. Just make sure you choose a reputable cash-buying company to get a fair quote for your property.
- Step Two: Enter Your Property Details
Enter the details of your property on the form provided. You’ll be asked to upload photos of your property before the cash buying company can send a quote.
- Step Three: Property Inspection
A representative from the real estate buying company will visit your home to inspect it. Generally, a property inspection is free for cash buyers. They’ll shoulder everything.
- Step Four: Get A Quote
After inspection, you can get a quote within 24 to 72 hours. Don’t expect the quote to match your property’s market value. Because all expenses will be shouldered by the cash buyer and your property is in its’ as-is condition, the quotes will be significantly lower. You must decide whether to accept, reject, or make a counteroffer once you receive the quote.
3. Sell Your Property On Your Own
Some property sellers want their home sales to be as private as possible in the post-pandemic. So, they decide to do things on their own.
If you prefer to sell your home yourself, you have many ways to do it. You can create a listing online through dedicated property ads, marketplaces, and social media. This route is more tedious and time-consuming on your part. But you can get the highest value once you have found the right buyer.
You don’t have to pay commissions when you decide to sell your property yourself. But you must deal with listing fees and expenses associated with staging and property inspection. Furthermore, you’re the direct contact of buyers. So, you must be prepared to answer all their questions.
Private buyers in the post-pandemic area are keener in scrutinizing the properties they want to buy. They may change their mind quickly, especially if they spot something unfavorable, such as missing shingles or a leaky pipe. Therefore, it’s crucial to set proper expectations and repair major problems to preserve the market value of your property.
Here’s how to sell your property on your own in the post-pandemic era:
- Step One: Repair And Replace
Fix your house before listing. Repair and replace broken fixtures and malfunctioning systems, such as major electrical, HVAC, and plumbing issues. Hire professionals to tackle the job if you’re in a rush to list your property. If you have plenty of time, you may fix them yourself, so long as you have the proper knowledge and skills to do it.
- Step Two: List Your Property
Take photos of your property and check its details, such as the floor and lot area, based on your paperwork. Ensure the pictures are clear on the listing to avoid potential buyers asking for more photos. Include the amenities or best assets of your property and its flaws too for a detailed and honest description. The price must be within market value with careful consideration of the property’s condition. So, avoid under and over-list pricing.
- Step Three: Set A House Visit And Entertain Visitors
Make your communication lines open to potential buyers. You can arrange a house visit with the potential buyer on your mutually agreed date. Beforehand, stage your property by removing all personal belongings, such as family portraits, and decorating the living room and all other rooms to make the property more appealing to potential buyers.
- Step Four: Buyer Follow-Up
Follow up with the potential buyers to check if they’re still interested in buying your property. Interested ones usually contact sellers to close the deal immediately. But many prospects might still be thinking about whether they should buy your property or look somewhere else. You can provide your contact details or contact the buyer via email or phone call once a week to follow up.
4. Hang A ‘For Sale’ Sign
Some property sellers have become more flexible when selling their houses post-pandemic. This option is for property sellers who aren’t in a rush to sell their properties. They can take their time for as long as they want. If you’re still staying on the property and have no plans of moving out soon, this option will be good for you.
Hang a big ‘For Sale’ sign outside. Potential buyers and real estate professionals may randomly contact you to schedule a house tour. Set the date at your most convenient time without stress and pressure.
With this property selling option, you can change your terms anytime. Real estate professionals representing buyers are free to check your property and negotiate the sale price and terms. And you may accept, deny, or make a counteroffer depending on your preferences.
Conclusion
As discussed above, there are many ways to sell your property in the post-pandemic world. You can hire a professional realtor, sell your home to a cash buyer, or list and sell your home alone through online marketplaces or social media. Whatever route you choose, remember the important tips shared in this article for a more successful property sale transaction.