What else does a pandemic bring apart from disruptive changes and irresistible innovations? For homeowners, the pandemic creates a unique opportunity to sell their houses. It sounds like a twist of reality; however, critical situations haven’t ceased to offer golden opportunities. For house owners, the pandemic may be the goose that lays golden eggs.
How To Sell Your House
How do you sell your house? It’s a two-step process: find a qualified buyer who hands you the cash, and you give them the keys. Most home sellers will tell you how complicated this process can be, but it doesn’t have to be this way in your case. You can look at this to better understand the process.
Generally, selling your house begins with a decision to sell. After that decision, you’ll need to hire an agent who knows the market and get your home in front of the right prospects. Choosing the right agent for your situation will save you the stress of looking for buyers and give more exposure to your house through property listings.
Once you get an agent involved, you’ll prepare for a home inspection and set a realistic price that’ll be a good deal for you and your buyers.
Best Way To Sell Your House: Private Or Auction
During an auction, buyers bid on the property, and the person or entity that offers the highest bid at the end of the auction emerges as the winner. Private sales are more discreet. You list your property on multiple listing services (MLS) and have direct negotiations with interested buyers.
Auction sales enable you to set the timeline for the sale of your property and eliminate the stress and hassles of showing your property to prospects multiple times. However, a lot of sellers assume properties placed on auction are distressed, and this might affect their desire.
Private sales give you reasonable control over sales and save you from paying agent commission. The downside is that you might have a limited pool of prospective buyers and not get the best price for your house.
Depending on the situation, both options can be profitable. It’s up to you to choose the one that meets your needs and will give you the best profit for your house.
Reasons To Sell Your House Amid The Pandemic
The pandemic has created a shaky economy with increasing uncertainties, leaving so many people believing that now isn’t a good time to sell their houses. Such an assumption is understandable. Nevertheless, contrary to popular beliefs, this pandemic period is an excellent time to sell your house to potential buyers. Here are some reasons:
1. House Demands Are Increasing
COVID-19 has made house sales dormant due to quarantine and bans on open houses. Now that the lockdown is relaxing, house buyers are increasing demands to make up for the lost time. The real estate market is currently witnessing signs of rebounds, owing to the significant needs of house buyers. This means that placing your house on sale this time will attract sales.
2. Available Houses Are Low
One would think there’ll be more houses to sell than buyers willing to buy due to the pandemic. Interestingly, it’s a revered situation. Despite the glut of home buyers, the number of houses available for sale doesn’t meet the demand from buyers. With more people living in their houses longer than they used to and fewer distressed properties on the market, the number of available dwellings keeps dwindling. Selling your house now will mean supplying value to an already craving market.
3. Houses Now Cost More
With the demands for houses increasing and available homes for sale are low, sellers have the opportunity to price their houses higher than the usual range. As a seller, this is good news as higher pricing means more profit. You can be guaranteed more profit if you put your house on sale this period.
4. People Have More Money To Spend
Since the pandemic has restricted international travel, people who’d have spent money traveling overseas or enjoying entertainment experiences now have the opportunity to save a lot of money. This increases their buying power and makes them consider owning and investing in properties. With such individuals in the market willing to buy houses, you can be sure of your home getting a favorable buyer.
5. The Property Market Has Shown Great Resilience
Unlike many other markets that are having a hard time bouncing back from the debilitating effects of the pandemic, the property market has fared relatively well despite the economic shock. With this, you can concisely have a good sales record.
Conclusion
Aside from having a good house to sell and engaging the right professionals, selling at the right time is another critical factor that determines the profitability of your sales decision. Contrary to widespread assumption, selling amid the pandemic offers excellent earning potential.
