Letting go of a home is not the easiest thing to do, especially when you’ve made the most beautiful memories in it with your loved ones; or, you may have bought an investment property, and now it’s losing you a lot of money — opposite to what you were hoping for. Regardless, the last thing on your mind would probably be facing the seemingly long process of selling a house.
If you are seeking a simpler, less complicated process, there are some things you can do to not make things more mentally and emotionally exhausting as they already are. But before that, you have to understand where you are at with your finances. Closing costs alone can average between 5% – 10% of the selling price in Georgia; and if you sell your house the traditional way, you might want to set aside a budget for this.
The good news is, if you don’t have any extra money, it doesn’t mean that you can’t sell your house. There are other options like selling your Lawrenceville home for cash! Either way, we encourage you to really think about what best fits your current situation and future plans.
Hire a Real Estate Agent
If you are willing to share a portion of your sales for an agent’s commission, you may be able to get the most value from your house if you hire a good agent. In Lawrenceville, the average commission price is around 5.94%. If this is too high for you, you can always negotiate with your agent.
When choosing an agent, more than their technical expertise or real estate knowledge, you might want to look at their personality as well. With this, you’d want an agent who is:
- a good listener (able to read what your buyers really prefer)
- a good negotiator (able to provide what the buyer needs without compromising your interests)
- attentive to details
- a problem solver (you’d want an agent who says “let’s find a way”)
- honest (able to disclose to you their limitations and your property’s true standing in the market)
If you are having doubts about getting an agent, you may want to reconsider because, in 2020, more than 73% of sellers in the U.S. were satisfied with their real estate agents.
Consider “For Sale By Owner” (FSBO)
If you aren’t fond of working with real estate agents and save the commission for other purposes, you can also sell your Lawrenceville house on your own. This is not highly recommended if you need to sell your house fast, unless you already have a potential buyer. And if you do go with this, this is not going to be a walk in the park, but it is doable with patience and due diligence.
1. Is Today the Best Time to Sell Your House in Lawrenceville?
According to Neighborhood Scout, prices of homes in Lawrenceville have appreciated by more than 70% (2010-2020). This means that houses in Lawrenceville are good long-term investments that can help attract more buyers for you. However, this isn’t the only figure that will help you sell your Lawrenceville house fast. The ratio of inventory to the number of buyers also matters.
If there are a lot of houses for sale in your community, you have to step up your selling game. You can follow real estate news about housing market supply and demand in Georgia to help you know when it’s the best time to sell your house or not.
2. Get to Know Your Neighborhood Comps
Comps are basically recently sold homes in your area with similar features, conditions, and square footage as your house. It is important to know your comps so you can set the correct selling price for your house (they give you an idea of how much buyers are willing to pay for your location). You can find previous selling prices from your county records, or, search online for recently sold homes in Lawrenceville.
3. Create an Irresistible Ad/Listing
You have to remember that the priority of your buyers will always be to get the house that they want at the lowest price. So when you create a listing, you can start with a price that is lower than the market price to ignite demand. NAR reported that in 2020, sellers were able to sell their houses for 99% of the listing price, and that only less than 39% of them experienced a reduction from their listing price.
If you fear that your buyers will bargain a much lower price, try to see how you can compromise. You can offer to pay the closing costs, highlight that your price is already lower than what they will encounter with other houses, or try rejecting their offer right away (buyers usually offer a lower price the first time than what they can actually afford).
Pictures-wise, you may want to add a lot of pictures to your listing because this is where your buyers will get an initial impression of your house. If your home is not in the best condition, you can always stage it to help your buyers envision what the house could be like for them.
4. If You’re Renovating, Do Not Overdo It
If you have extra money to renovate your house before selling, do not renovate without checking market trends. You would want to save on expenses because renovations do not guarantee a sale. According to NAR, for example, 44% of buyers don’t prefer homes that had plumbing and electrical problems. Upgrades-wise, minor kitchen refurbishments can have a greater ROI than the more upscale improvements. Targeted renovations are key.
5. Practice Negotiating
When you sell your Lawrenceville home, you shouldn’t expect that the first person you talk to is your sure buyer. Likewise, you shouldn’t expect that your listing price is your final purchase price. A vital attitude in the house selling process is patience and flexibility, which is why you should find time to learn about the different strategies in handling disputes. For example, you can say yes to a lower purchase price but ask to shorten the mortgage, increase the interest rate, and set a late payment penalty.
Sell to an iBuyer
iBuyers are sometimes referred to as disruptors in the real estate industry. Not only will you be able to sell your home fast for cash to them, but you’ll also be able to do that remotely without any in-person discussion. However, selling to an iBuyer would mean that you’ll probably get way less than the market value of your house because they charge an average of 13%-15%. Some of the biggest iBuyers in the U.S. include Zillow, Opendoor, and Redfin. If you don’t mind getting a lower price for your home, then you can consider selling your Georgia house to an iBuyer.
Sell Your House to Other Professional Home Buying Companies
There are other direct home buyers apart from iBuyers. Traditional cash home buyers like us can also close as fast as seven days. The difference between us and iBuyers is that we will value and listen to your concerns before we make an offer. If you want to sell your Georgia house as is, we are also open to buying unrepaired houses. Lastly, if closing costs are the main concern for you, you do not need to worry about it with us because we cover all of them for you.
If you want to know more about your different options, feel free to contact us anytime via the form below, or call us at (678) 318-1801!