Thanks to historically low inventory and high demand for properties, in today’s market, bidding wars are the norm. And in order to give themselves a competitive edge in said bidding wars, many buyers are willing to go the extra mile to make their offers more attractive—including waiving contingencies.
According to the most recent REALTORS® Confidence Index from the National Association of REALTORS®, in May 2021, 28 percent of buyers waived their appraisal contingency—while 25 percent were willing to waive their inspection contingency.
Buyers are also putting more cash down in an effort to make their offer more attractive and win bidding wars. According to the index, in May, 52 percent of mortgages had at least a 20 percent down payment, including about one in three first-time buyers—a significant increase over the past 10 years (in 2011, 40 percent of mortgages and 25 percent of first-time home buyers put down a down payment of 20 percent or more).
So, what does this mean for you? In today’s market, competition for properties is fierce—and if you’re planning to buy a home, you may need to go the extra mile to make your offer stand out in a bidding war.
Once homeowners have arrived at the decision to sell their property, most want the transaction completed as quickly as possible. Sure, you can hire the best agent in town, price your home just right, and then market the heck out of it, but having a little bit of luck on your side and a few selling superstitions never hurt either.
When it comes to getting the deal done in a timely manner, sellers and agents have been known to rely on time-tested selling superstitions. Let’s take a look at 10 that are all but guaranteed to get that “Sold” sticker slapped on your “For Sale” sign in a hurry.
Selling Superstition #1. Appeal to the senses.
Here’s a sweet sellers superstition even if you’re not the least bit hungry, there’s something inherently appetizing about walking into a home and smelling a freshly-baked treat. While some experts recommend whipping up a batch of cookies, others say bread emits a scent that’s heartier, lasts longer, and offers greater olfactory appeal to buyers. Non-bakers will be glad to hear that sprinkling cinnamon inside a stove and turning it on low even for a few minutes will do the trick. Fans of savory versus sweet swear by roasting an onion, which is said to be enough to fool would-be buyers into envisioning hosting their very own Thanksgiving feasts in that home.
Selling Superstition #2. Bury a statue of St. Joseph in the yard.
Though St. Joseph was a carpenter by trade, he’d have made a pretty great Realtor ®, some say. It’s believed that burying a statue of the saint upside down (because this way he’ll want to get out faster) seems to have a mythical ability to sell homes in record time according to some seller superstitions . Unlike costly home renovations made in the hope of a quick sale, this statue won’t blow your budget. Kits, which include an accompanying prayer, start at $6.95.
Selling Superstition #3. Don’t do the math just yet.
Apparently the old phrase, “Don’t count your chickens before they’ve hatched!” also applies to real estate and selling superstitions. Triplemint agent Phil Reynolds says, “Don’t calculate your commission unless you’re negotiating it!! I’ve heard agents say it’s bad luck to calculate your commission before the deal closes.”
selling Superstition #4. A dimmer switch is a bright idea.
Some believe putting lights in dining rooms, bedrooms, hallways, and family rooms on dimmers will attract buyers who are drawn to the control they offer but wouldn’t necessarily devote to the time or trouble to adding the feature themselves, but not completely sure of this selling superstition.
Selling Superstition #5. Skip the zeros in superstitions.
While it might be tempting to price a home at a nice even number, selling superstition dictates that you’d be much better off choosing a random figure as it lends intrigue. Just do yourself a favor, and leave unlucky “13” out of it.
Selling Superstition #6. Throw in some amenities.
Buyers often fall in love with certain features only to be turned off when they learn that the exquisite chandelier or state-of-the-art appliance they coveted is leaving with the homeowner. Consider sweetening the pot by offering up a highly-desirable item and watch the bids roll in with this selling superstition.
Selling Superstition #7. Create a warm welcome.
If the home boasts a fireplace, and weather permits, set it ablaze. A roaring fire adds warmth — literally. Creating a charming ambience will definitely distinguish one property from another in a buyer’s mind. Make sure fireplace is clean for this selling superstition as to avoid the nasty smell of burnt wood.
Selling Superstition #8. Pretty it up with fresh flowers.
Another over-looked selling superstition is when a home is showing, you want it to look as fresh and inviting as possible. Flowers go a long way toward adding color and character to any space — even a pint-sized powder room. This trick holds true for the outdoors as well. Good landscaping has been known to shorten a property’s time on the market by as much as six weeks, experts note.
Selling Superstition #9. Don your lucky outfit.
Lady’s will love this selling superstition,the right outfit can boost your confidence no doubt. Triplemint Sales Manager Joan Kagan says she owns a “lucky closings dress.” Hey, whatever works!
Selling Superstition #10. Smudge it.
Some believe a home may have a “negative energy” lurking inside, which of course, can cause it to linger on the market long after it should’ve been sold. Smudging, a Native American ritual, in which cedar and white sage are burned either together or separately. Next a prayer or intention is said requesting that only positive energy enter the space as the negative flows back out says this selling superstition. It’s said that strangers often feel these emotions more strongly than the home’s inhabitants.
“I had a buyer who found out there was a cemetery not far from their apartment and didn’t close because she didn’t want to have ‘evil spirits’ in the house ,” Triplemint agent Greg Moers recalled. “She backed out of the contract and lost her deposit, so she was really against it. In the Asian culture, along with Feng Shui, this is a very big thing. They are against evil spirits of the dead to enter the house.”
So the selling superstitions can mean tons to any potential home buyer or home seller and although some may believe, there may just be some truth to these. Lets discuss your selling superstitions and get your home sold for the most money possible!
You are probably wondering that if a person can buy a house on their own, then why can’t they sell one on their own as a For Sale By Owner (FBSO) . Homes for sale in Farmington Hills, Michigan deserve a great Real Estate agent to market, stage, arrange appointments and screen buyers to assure they are pre-qualified and able to purchase your home and get you the best price possible.
Houses that have the sign stating “FSBO” (for sale by owner) do not make much profit. According to the National Association of Realtors, in 2017, 89% of the sellers sold their house through a real estate agent and 87% of the buyers hired a real estate agent for the purchase. A house sale that was handled by a real estate agent went for $249,000, whereas one that was handled by the owner went for $190,000.
A few difficulties that FSBO houses face include:
- Inability to set the right price
- Unable to understand the paperwork
- Not being able to sell the house within the planned time
- Failing to stage the house properly for the sale
- Not having enough time for giving people a house tour
Now that you know what awaits you if you put up your home for sale in Farmington Hills, Michigan, on your own, let’s have a look at the following reasons why hiring a real estate agent is more beneficial:
1. They Have More Knowledge about the Real Estate Market
You won’t be able to make a sound deal on your home for sale in Farmington Hills, Michigan, because both the parties, you and the buyer, are not familiar with most of the real estate terms. A loophole might become visible in the future that will negatively affect you both. This is where a real estate agent proves his worth. Not only is he up to date with the current real estate market trends, but he also knows what documents are needed to make the transfer as easy as possible.
2. House Is Priced Competitively
The real estate agent knows more about comps than you will ever find out on the internet. Comps are necessary for setting the price. They are the key to multiple offers. Why would you pass up on such a good opportunity!
3. They Have Several Online Marketing Strategies up Their Sleeve
A real estate agent has several connections, which allows them to market your house to the right buyers. They are recognized in the industry, which gives them the power to sell your house within a month.
4. High Profits In Homes For Sale Farmington Hills, Michigan
When a trusted and reliable real estate agent handles home for sale in Farmington Hills, Michigan, you can be assured that you will receive a hefty profit. Clients with whom he has been working for a long time will trust his judgment and might even agree to the asking price without negotiations.
Convinced why hiring a real estate agent, who will ask for a small commission (did we mention small), is such a good idea? If you think about it, a real estate agent has magical powers—sort of— that help you sell your house easily. If you are looking for such a competent real estate agent who will help you with your house’s sale, then visit Homes2MoveYou or call me 248-790-5594 and get your house listed and beat the upcoming competition.
Christmas Holiday is just around the corner and we give you the green light to go a little crazy on the decorations, if you are planning to sell your house during the holidays. The more festive you are, the higher the attention your house will get. You are probably wondering how to spruce up your house during holiday season, the busiest month of the year but the good news is, buyers hunting for a house right now will appreciate your efforts if you play your cards right. In fact, we guarantee that if you pay special attention to staging, you will be sitting in your new house before Christmas.
So, how should you tackle this holiday season sale?
Let us educate you:
Make Sure the Online Listing Is Accurate
From pictures to the summary and other major details about your home for sale in Oakland County, Michigan should be mentioned on the listing. People are very busy running errands during the holiday season and you do not want to waste their time by promising something and then showing them something else.
Take Advantage of the Holidays
So, the Christmas light are probably going to go up, right? This is the time to use every decoration piece in your attic boxes and light up your house. Make the place look cozy by paying more attention to the fireplace, guestroom and the staircase. If you are willing to spend a little extra, then light up the tree too.
Be Flexible In Booking House Tours
As mentioned earlier, this is going to be a busy, so try to accommodate as many buyers as you can for the viewings. Try to work with their schedule and make sure when they arrive, you are there to greet them at the door.
The Home Should Be Move-In Ready
Buyers will be looking towards making a quick deal, so get the home inspection out of the way early. Do not leave boxes lying around in your home for sale in Oakland County, Michigan because it might give buyers the impression that you are still in the stage of moving. This way, when the buyer will step foot in the house and you will hand them home inspection report, they will be more interested in exploring the house. To sweeten the deal, offer them incentives such as paying the closing cost and warranty for some of the big appliances.
Pay Attention to the Curb Appeal
This goes without saying that the more beautiful your house looks from the outside, the more offers you will receive. So take out those sheers and start clipping the overgrown hedges.
Do place some cookies and eggnog on the kitchen counter for people to enjoy. Even a small things such as this goes a long way in making up the buyers’ minds. Looking for a real estate agent to help you put up your home for sale in Oakland County, Michigan? Visit Homes2MoveYou now and get yourself a real estate agent for the right listing.
When you’re in the business of helping people buy and sell homes — arguably the largest investment of their lives — it goes without saying that there’s a lot at stake. While real estate agents are typically unflappable pros who, in many cases, have experienced just about every scenario you can imagine, there are still some things that strike fear into their hearts.
Buying a home is the biggest investment you’ll likely ever make, and it has all sorts of implications for your personal and financial future. This is why it’s so important to work with the right agent and not the wrong agent.
Too many people don’t realize just how much can go wrong if they make the wrong hire. There are some very serious problems that can arise if you accidentally work with the wrong person to buy or sell a home. Here are some of them:
1. The wrong agent is not listening
A professional real estate agent (or any other professional for that matter) will take the time to listen and understand their client and the client’s needs. The wrong one, however, isn’t going to listen to what you have to say, and will instead focus on what they want for themselves.
This will set the precedent for the rest of the process and make any real estate transaction a miserable experience. An agent who doesn’t take the time to know your wants and needs will cause you stress, confusion and heartache.
2. Bad advice
If there’s one thing you need a competent agent for, it’s the advice they’re able to provide. A good agent will serve as your trusted advisor, guiding you through the myriad of decisions you’ll make when buying or selling a home.
A bad agent, however, will either give you advice that’s not based on any experience or research, or is just plain self-serving. This can cost you financially or prevent you from accomplishing your goals altogether.
3. Failed negotiations
Lots of people consider themselves good negotiators, but very few actually are. While negotiating might be just one part of real estate, it’s an important one. You need someone on your side who’s working in your best interests in a competent and effective way.
A bad agent will either negotiate in such a way that attainable deals fall through, or will simply negotiate in their own best-interests rather than the interest of their clients (you).
4. Lack of responsiveness
This may or may not be one of your pet-peeves, but unresponsiveness in something as complex as a real estate transaction can be an absolute nightmare for the person whose money, home, and future are on the line.
A great agent and is available most any time you need them (within reason). The wrong one, however, will let your calls, messages, and emails go unanswered while you worry yourself sick about what’s happening (or not happening).
5. Missed opportunities
Real estate is a business that moves quickly, especially when the market is hot. Even when there’s high demand, there are still opportunities for buyers, and a good agent will know how to spot them and take advantage quickly.
The wrong agent will miss good opportunities because they’re unable to recognize them, will move too slowly and miss them, or just generally not care.
6. Legal pitfalls
Real estate is complex by nature, and legal questions arise on a frequent basis. Thankfully, good agents have the knowledge and resourcefulness to help you navigate them and can find solutions even if they’re not immediately apparent.
Hiring the wrong agent will mean that when the inevitable problems creep up during the transaction, they’ll either give you the wrong advice on what to do, or will simply look at you and shrug their shoulders.
7. The process won’t be enjoyable
There’s no rule that says a real estate transaction has to unpleasant. Yes, it’s a lengthy process that has lots of implications. But if you take a step back and think about it, buying or selling a home is usually a positive thing—whether it’s an upgrade, a money-saving downgrade, or a general lifestyle change. You should work with someone who can at least make it a pleasant experience.
And that’s the thing about hiring the wrong agent. They’re all but guaranteed to make the process one that you won’t enjoy.
So choose your next real estate agent wisely; your happiness—and the height of your high five when it’s over—will likely depend on it.