The housing market has responded to the spread of COVID-19 by increasing prices. The shocking current median home price of $450,000 is proof enough of this. That’s not only an outrageous price, it’s a new June high as well. As a seller, you may be tempted to take advantage of the real estate market’s seemingly unstoppable ascent. Nonetheless, a cooling of the U.S. real estate market and a drop in home prices may be on the horizon. As both home prices and mortgage interest rates are at record highs, some would-be buyers have given up on the market altogether. Interested buyers are trying to haggle down the price and get better deals on the landing fees. There were twice as many price reductions on newly listed homes in June than there were in June 2017.
It’s understandable that the present situation of the market has many homeowners questioning how to set a reasonable price for their homes. First things first, make sure you choose a competent real estate listing agent. Today’s market is characterised by fast change, but these professionals will have the tools and knowledge to help you sell your home in this environment. Yet, there are certain inquiries you must make to zero in on the most suitable specialist. Here are the questions to ask realtor when selling.
Please tell me about your background and experience.
As soon as you decide to sell your home, you should choose a real estate agent who is licenced by the state and a member of the local real estate trade organisation. That’s the barest essential need. This means that they may use the MLS (Multiple Listing Service) to market your house to a wider audience, increasing the likelihood of a sale.
In all, how many sales were closed in the prior year?
Past performance in the real estate industry is no guarantee of a quick sale. But, you can be certain that they know what they’re doing when it comes to selling your home since they have a proven track record of success with buyers and sellers.
Ask potential real estate agents about the average sale price of homes they’ve closed and how many clients they’ve worked with in the past. You need to find someone who is well-versed in the features of real estate that are likely to appeal to buyers in the target income bracket. Asking for feedback from satisfied consumers is another option.
Do you have a great deal of practical experience in this field?
For those looking to sell their homes, working with a local expert might be quite beneficial. Your home’s worth, the speed with which it sells, and the price you’re likely to acquire may all be affected by upcoming developments in the neighbourhood, and local real estate agents will know about any such plans for businesses or other amenities. They’ll also know what kind of homes local buyers seem to be interested in.
How did you settle on that price point?
Few things are as important to a seller as sitting down with their real estate agent and talking about pricing their home so that it is competitive in the local market. If you price your home too low, you risk losing potential buyers, but if you price it too high, you risk having it remain on the market for a long period without any takers.