Tips For Entering The Real Estate Market

Entering the real estate market can be quite frightening, especially if you know absolutely nothing about it. This is why we have come up with 5 tips to help you ease into the process!

1. Look Into Timing

While there technically are four seasons of real estate, the two most prominent ones are summer and winter. Summer is the busiest month by far, meaning that customers are usually more aggressive and ready to close on deals. On the contrary, winter has been found to be one of the slower months, with very few good sales going on.

If you’re a buyer looking to purchase a house, you’ll find less competition in the winter. Additionally, the prices of homes may drop in the winter. It’s not a guarantee though. If you’re selling a home, you’ll receive much more attention in the summer months, seeing as people have more time away from work and school.

Aside from seasons, the health of the general economy will determine what state that of real estate is in.

2. Don’t Reject Offer Without Trying To Negotiate

When selling a home, you’re bound to get some low offers. Instead of merely rejecting them, try negotiating a little. If someone really wants to buy the home, they can be talked up.

If you’re buying or renting, always try to negotiate the selling price, depending on the value that it’s listed for. In order to determine how much a home’s value actually is, you’ll want to look into all aspects of it. These aspects include the neighborhood, what amenities it has, as well as what nearby homes of similar size are listed for.

3. Factor In Additional Fees

So many monetary factors go into selling a home. You need to be sure that you have the right assets to be able to successfully partake in the real estate market. Some things you’ll have to pay for include:

  • flat fee MLS
  • Repairs and renovations
  • Comparative Market Analysis (CMA)

Even if you are simply buying a house, there are still several monetary factors to account for aside from the closing cost, such as:

  • Escrow
  • Downpayments
  • Lenders

4. Location Matters

Whether you’re buying, renting, or selling, the location of a property has a great influence on its value and price.

For sellers or landlords, you’ll want to really boost the neighborhood that your property resides to not only get a bigger audience but to potentially get higher offers. Places to include in your listing are movie theaters, nightlife, restaurants, schools, malls, grocery stores, and recreational areas.

5. Tidiness Plays A Role

This last tip plays an important role solely for sellers. When a customer sees themselves living in your home, they are likely to buy it. This can’t be done if it is a mess, so make sure to declutter as best possible.

Additionally, you’ll to have a good curb appeal. The lawn is the first thing somebody sees when driving past. Try adding some foliage, flowers, and light decor to spice it up!