Look For A Cash Buyer

Selling your house for all cash means you can cut down on all the cleaning, decluttering, and repairs that commonly come with the classic home sale process. In July of 2021, home sales for all cash were at 30%, and while NAR reports the May 2022 cash sales down to 25%, that still gives a window of opportunity in this cooling housing market. However tricky market conditions could ensue if there is a jump in the number of homeowners selling for cash due to financial hardship and a drop in all-cash buyers as a falling stock market causes people to lose liquidity.

When selling for all cash, there are fewer unknowns like waiting for the buyer’s loan to close and you won’t be roped into the 17% of sales that had delayed settlement issues in May of 2022. A legitimate all-cash buyer will not have to deal with a lender and might not ask for as many repairs or upgrades. 

However, selling for all cash means you will probably get less money for your home, especially because this option is usually used on homes that need considerable repairs. Buyers know that all cash is easier and will offer at a lower cost and can have a “take it or leave it” attitude with little to no room for negotiation. Additionally, an all-cash buyer may want to close fast and offers all cash to avoid further competition and a long due diligence/closing process

Who Are Cash Buyers and Sellers?

Cash Buyers

• iBuyers are real estate tech companies who also work as brokerages and use an algorithm to detect what to offer and sell a home at.
• Investors buy near schools and universities or major hubs where rentals are popular. They can then generate rental income from their properties
• House flippers often buy for the same reasons as investors, however, they will renovate update, and sell the home vs. holding on to it to make rental income. 

Cash Sellers

• Cash sellers are often looking to sell their homes fast because they are on a timeline to move. This may include: 
  • Relocating for work or remote work ending.
  • Divorce
  • Receiving a property from an inheritance.
  • Disrepair coming from structural issues, fire, water or damage from natural disasters, or bad tenants. 
  • Immediate desire to move from the neighborhood, town, or state.
  • People being foreclosed on to try to beat the scheduled auction.
  • Sellers who have already purchased a new home and can’t afford a double mortgage.

If selling your house for cash doesn’t work out and you want to go the traditional route, there are many cost-effective ways to sell your home fast with minimal work. You don’t need a full renovation!

Start With Less 

The first step is to declutter the house. In a survey, 98% of top agents agree: minimizing clutter is one of the most important steps to complete when prepping your house for sale. Still, homeowners often overlook or ignore this advice. 

-kkl kl;.Getting rid of clutter isn’t just for your personal reputation. Homebuyers are less likely to bid on homes with clutter where they can’t imagine a home with their belongings in it or see the floor. It also may make them nervous that the stuff may be hiding a big flaw or pests.

Decluttering Your Home For Sale

• Declutter your home from top to bottom. Get rid of all things you don’t need. This will be a mixture of things to throw out, things to give away, and things to pack now. The more you can live without now, the less you have to do later. 
• Get boxes and rent a storage unit. You can store packed items until you’re ready to move. Separate the things you can give away and pack them into boxes labeled “give away” with a donate by date to hold you accountable. Most donation centers will give you a receipt for a donation that’s tax-deductible.
• When in doubt, throw it out! Get a big trash barrel on wheels that you can roll around with you to easily toss trash. You should be left with only items you use every day, and other essentials left to pack (clothes, linens, dishes, etc.). 
• Plastic bins with snap-on lids for unexpected showings. Things like toiletries and everyday miscellaneous items can be placed into these containers for easy and temporary storage when you get unexpected visitors. They can also be easily used when it’s time to move and you can see the items you need in a pinch.

How To Prepare Your Home To Sell Fast

The easiest way to tackle minor repairs, cleaning, and cosmetic issues is to take a walk through your home and make a list of all the tasks or cosmetic things that have been bugging you or need to be updated. Look for minor repairs, scrapes and gouges in walls, cracked or damaged paint, or anything else that makes your home look older and worn.  

Deep Cleaning With Meaning

• Have all the cleaning supplies on hand. Make sure you have anything you’re going to need to clean your home, including a vacuum and carpet steam cleaner. If you don’t have one, rent one. This is often a selling point, so either steam clean your carpets – or replace them. It’s an expense you’ll likely pay for, either now, on your own terms, or later, at closing, on the buyer’s terms. Unless the carpet is in top condition and you can get by with just a steam clean – only you know, for sure. 
• Clean inside and out. Make sure to thoroughly clean windows inside and out, baseboards and window frames, drawers, etc. Prospective buyers will be looking around every corner and door.

Minor Repairs To Raise Home Value

• Which spaces need more light? Lighting is one of the most requested features by buyers, and humans have emotional and physical responses to light. Bring in more natural light to dark spaces wherever possible. 
• Consider installing smart features. This is an inexpensive way to advertise energy efficiency – a good selling point, right now. 
• Replace cabinet door handles instead of new cabinets. This is a cost-effective upgrade that changes the look drastically.
• Schedule a handyman, and a contractor if necessary. It’s either now, on your terms, or later – during the home inspection, on theirs.
• Get a home improvement loan. Keep in mind, full disclosure is required by law. If money for repairs is a problem, consider getting a home improvement loan, or be prepared to adjust the price if any major repairs are found necessary during the home inspection

Fresh Paint Renews Your Home

• Neutral touch-ups. When cleaning is done, paint any interior rooms that may need a fresh coat – use NEUTRAL colors, whatever you do! (Don’t listen to that rebel inside you. Not this time, hipster.)
• Freshen the windows. While you’re at it, consider painting window frames and going “curtainless” in the kitchen – or any dark room.

Prepping Your Home To Sell

• Hire a professional photographer to take your listing photos. This is crucial; don’t make this common mistake. It’s not very expensive, at average costs between $150-$300, and will make all the difference.
• Have your home staged for the listing photos. Talk to your agent, they can often help you get this done or recommend someone.

Prepare Your Home For Sale Through Curb Appeal 

The importance of curb appeal cannot be overstated. The fact is, you only get one chance to make a first impression. And no matter how you look at it, your home’s curb appeal is any potential buyer’s first impression. Let’s face it – we’ve all seen some pretty run-down or dull-looking houses for sale. If you were out house-hunting, you’d see a house like that from the curb, and just drive on by. You know it’s true.

There are several tips below that fall under the header ‘curb appeal’, so get ready to work – or hire someone, and supervise from inside in the A/C. 

Lawn Care

• Hire a landscaper. Not the neighbor kid, though tempting. This is not the time to worry about saving money, so call a professional landscaping company. You’ll save yourself untold grief! 
• Landscape yourself. You’ll need to mow, weedeat, trim shrubs, and trees, plant some flowers if possible (pre-grown), clean up any trash, tools, toys, hoses, whatever – you want your property to look immaculate, and your yard to look manicured. 

Exterior Home Touch Ups 

• Power wash the exterior of your house. Again, if you don’t have one, borrow or rent one – this makes a huge difference. 
• Repaint the exterior. If the exterior needs to be painted, remember the rule: use a NEUTRAL color. And for a job like this, hire a professional. But if you don’t have the money for that, power washing really helps – plus, you can: 
• Accent with darker colors. Consider choosing a darker shade, or a contrasting – but complementary and tasteful – color, to accent the outside of your home. Paint window frames or shutters the accent color, and possibly the front door (see next tip). 
• Walkway Work on your walkway up to the door, the patio, porch, or front stoop, and the front door itself to remove loose tiles, weeds, or anything else that may catch the eye in a negative way.

Exterior Home Decor

• Welcome buyers in. Make sure you have a welcome mat in place. Remember: warm, inviting. 
• Replace your front door completely. Your front door is so important! You want it to have class, but be welcoming at the same time. Replacing your front door can give your house a completely new look! If not, give it a fresh coat of paint – and perhaps a nice door knocker.

• Add greenery. Put some potted plants or even a hanging plant around the entryway area. 
• Accessorize the decor. Hang some wind chimes or other outdoor decor. A porch swing or a rocking chair is always cozy and inviting. A birdhouse is a nice touch. (You get the picture.)

Find a Stellar Real Estate Agent 

Other than the prep work, this is the most important step, hands down. DIY methods are great for just about anything these days, but there are still some things that just don’t pay to do yourself. One of those things is not using a realtor. Find an agent that feels right and understands your needs – don’t just take the first one that comes along. There are more realtors in the U.S. now than ever before, and there is definitely one out there that’s perfect for you. Finding a top real estate agent will help you sell your house faster and for more money, regardless of market conditions. 

Pricing Your Home

Once you’ve found a real estate agent you can trust, consult with them and LISTEN to what they advise. They will help you come to the perfect asking price. Do not overprice your home. 

If you are concerned the asking price is too low, ask your agent to walk you through how they came to the number. Real estate agents will look at comps to see what in the neighborhood or area has been selling and how it compares to your home. You can also do research on your own through listing sites that show recently sold homes or property transactions.

If you follow these tips and have the right real estate agent in your corner, you should have little problem selling your house – in any market conditions. Good luck! 

The post How To Sell Your Home Fast and Increase Its Value appeared first on CitySignal.

But the most profound rejection typically occurred as follows: I’d overcome the hurdle of establishing what we agents call “first substantive contact” in real estate, which is when you meet with a client for the first time face-to-face. In some cases, it also implies paying for the client’s coffee, tea, or full-fledged lunch in a snazzy restaurant.

Then I’d take us around Manhattan in cabs, showing the client the best apartments that fit their budget and wishlist. Like any good first date, I’d make sure to end on a high note by making plans to see more listings the next day or soon after.

But then I’d never hear from them again. Worse, I was now $100 poorer than I had been earlier that week.

I’m sharing this not to shame the clients I had zeroed in on, nor to embarrass myself for being such a naive agent. Rather, I’d like to use my experience in real estate to help the non-ghosters — renters, buyers, and sellers alike — who are currently working with an agent and feel like it’s time to break up with them.

How to Break Up With Your Real Estate Agent: Tips for Renters

In the above example, I dramatized myself as a victim, as most agents do when they’ve been burned. However, I was far from being perfect. Did I see the full picture each hundredth time I was out with a client? No way.

But at the very least, I expected to be “broken up with” gently, the way most humans prefer. And if you’re a renter who’s currently working with an agent who isn’t meeting your needs, that’s exactly what I’d like to help you do: part ways respectfully and professionally, without ghosting them.

First, you should understand that your agent is working for you, not the other way around. You are their client, and they should be doing their best to help you find a home that’s right for you. If you don’t feel like they’re doing that, let them know right away, either face-to-face or by phone. Heck, even a text message will do. (In the above example, I would have graciously accepted a post-it note!) Any sign of life is better than ghosting.

As a renter (and human being), you don’t need to get into the nitty-gritty of your decision, nor do you need to apologize for it. Just let your agent know what happened that caused you to rethink your working relationship or say something cliché like, “It’s not you, it’s me” or “I’m sorry, but I think it would be better if we parted ways.” You don’t have to stay and listen if the agent becomes pushy or reacts indignantly. You can end the conversation there and be done with it.

As for what to do next, you can ask a friend or family member for a referral to another agent, or you can start your search anew by yourself. Whatever you do, don’t feel guilty about it. You’re not obligated to work with someone you’re not comfortable with, no matter what they say.

As someone who was on the other side of this equation, I give you my full blessing.

How to Get Out of an Exclusive Representation Agreement

Attention, buyers: In New York City and other markets nationwide, you may be asked to sign a contract with an agent known as an Exclusive Representation Agreement or Exclusive Buyer’s Broker Agreement.

This contract binds the agent to work only with you and vice versa. It outlines the duties of both parties — what the agent must do for the buyer, what the buyer agrees to pay the agent, etc. — and is legally enforceable.

A standard buyer’s broker agreement can last between three to six months. In some cases, it can run for as long as one year. During that time, the buyer’s agent is obligated to help the client buy a home.

Before you sign on the dotted line, make sure you understand the terms of the contract. Pay attention to the length of the agreement, as well as any clauses that allow either party to opt out early. In some cases, buyers can terminate the contract with advance notice to their agent, but there may be a fee associated with doing so.

You should also be comfortable with the agent you’re signing with, as you’ll be working together closely during what is likely one of the biggest financial transactions of your life.

If you’re still unsure about your agent after signing the contract, talk to them about it. Request an in-person meeting or schedule a call. Describe the reasons for terminating your contract in detail. Follow up with a letter or email confirming the details of your discussion.

If the agent doesn’t want to let you out of the contract, you can file a complaint with your state’s real estate commission or local board. Alternatively, you can seek out legal advice. But if you’d rather not, you might consider posting a detailed and honest review of your experience online, so that other house hunters can be warned.

As a former real estate professional, I can assure you that most agents care more about their reputation than they do about any commission they might lose. Some agencies would rather terminate the contract amicably than risk a bad review online.

How to Cancel an Exclusive Sale Agreement

As a seller, you may find yourself in an agreement with an agent who’s not putting in the effort to sell your home. On the other hand, you may have listed your home with an agent but then receive a better vibe or work ethic from another real estate professional.

It’s not uncommon for sellers to try and back out of an Exclusive Right to Sell Agreement, only to find themselves in hot water. After all, this contract is just as binding for the agent and seller as a buyer’s broker agreement.

That said, if you’re unhappy with your agent’s service, offer clear reasons and examples of their lack of performance in your conversation. At the same time, be reasonable with your expectations. It’s unrealistic to expect an agent to sell your home in one week, for example.

On the other hand, if the agent isn’t returning your calls, isn’t providing feedback from showings, or seems generally uninterested in helping you sell your home, those are all valid reasons to seek an early termination of the contract.

You can try negotiating with your agent directly to see if they’re willing to let you out of the agreement early. If not, then you might consider filing a complaint with your state’s real estate commission.

Another option is to let the relationship run its course, especially if the exclusive listing period is between 60 and 90 days. At that point, you can list your home with another agency, and when you do, some online platforms like Zillow and Streeteasy will reset the number of days your home has been listed on the market.

The Takeaway

In real estate, as in life, breaking up can be difficult. No one likes to be rejected. And as I see it, very few prefer to be the rejecter. But professional relationships need to be mutually beneficial. If you’re not getting what you need out of your agent, you should address the problem early on by communicating your thoughts.

Who knows? You might be able to work out a solution that benefits both parties. But if not, don’t be afraid to end things, even if it means going through the hassle of breaking a contract.

The post How to Break Up With Your Real Estate Agent: A Former Agent’s Advice for Renters, Buyers, and Sellers appeared first on CitySignal.

Because of the COVID-19 pandemic, one survey shows online shopping has been more popular than ever. “The pandemic has accelerated the shift towards a more digital world and triggered changes in online shopping behaviors that are likely to have lasting effects.”

That said, where you buy and sell is nearly as important as the furniture on your list. Let’s now dive into top online businesses for finding and selling your household goods:

Amazon

It’s no wonder that many people rely on this e-commerce giant with its many product options to choose from. On Amazon, you can filter your price of furniture to very affordable options. To become a seller, all you have to do is create a seller account and pay a small fee of $0.99, unless you want to build a professional account.

Second Chance

The greatest thing about this website is that it’s a non-profit, and you can even donate your own furniture so other people can have a shot at it. This place has way more than furniture too. They sell paintings, building supplies, and even musical instruments. This place has a bit of everything.

Bonanza

For this online venue, you can filter your options to “used”, certain style or color choices, etc. as you shop. This is suitable for buyers looking for a specific type of house good. As a seller, an extra perk is the absence of any startup fees for your business.

Etsy

The online shopping interface at Etsy is extremely user-friendly. After searching for a desired piece of furniture, you can save your options by clicking on the item’s heart symbol. At a low cost, Etsy’s marketing strategy tools allow sellers to optimize their business if they choose to do so.

Charish

This website has been recognized by Forbes, MyDomaine, and other news outlets because of its notable furniture listings. Users can start from the top by checking out “All Vintage Furniture” on its website. Sellers can transfer their money very quickly through its PayPal feature.

1stDibs

1stDibs is a store that pushes the boundaries of when and where the product was made. When searching for armchairs or any other goods you need, you can search for items from as early as the 19th Century or even hunt down finds produced in other countries, like France or Sweden. It’s also a great resource to sell your furniture to top collectors internationally.

OfferUp

On their website, OfferUp offers local and nationwide shipping options, which are suitable for those finicky buyers who are searching for a particular brand and make. For sellers, this high-end store offers promotion options to stand out in the crowd and increase their chances of landing a sale on each product.

The post 7 Best Websites for Buying and Selling Used Furniture appeared first on CitySignal.