Buying and selling homes on the St. Louis housing market can be a stressful process at times, but the end result tends to be worth the effort. The stress of buying and selling can be compounded when you have to do both, so it’s essential to approach your real estate goals strategically. Take note of the following tips, find a real estate agent you can trust, and make your real estate goals a reality once you are ready to get started.
Plan everything first
The more that you plan a real estate transaction, the less stress you will feel. When you are buying or selling a home, there is enough uncertainty built into the process that you will want to plan out every detail that you possibly can. When buying and selling a home at the same time, it is highly advisable to do your planning with the help of a real estate agent who can ensure that you have realistic expectations and a solid plan on your side.
Speak with an expert agent early on
You can outline your real estate goals (e.g., selling your home at the best price, buying a second home, becoming an investor, etc.) prior to speaking with an agent. However, once you get to the planning stage, it’s time to pick up the phone or hop online and get in touch with a licensed real estate agent. It simply doesn’t make sense to plan your real estate sale or purchase in detail until you’ve at least consulted with the agent who will be working with you.
When choosing an agent, use the following criteria. Your agent must be licensed to work in your state, experienced in your local area, and successful in helping buyers and sellers for at least a few years prior. If you’re not sure whether or not a particular agent is right for you, reach out and see if you can set up a consultation or at least have a brief conversation with that agent. A real estate transaction is generally a huge undertaking, so you must have a high degree of confidence in the agent who is representing you.
Understand the effectiveness of good staging and photography
When you are selling a home, staging is one of the most effective strategies for increasing the speed of your sale and boosting the final sale price. The National Association of Realtors (NAR), a major real estate trade organization, has reported research that demonstrates faster sales and higher sale prices from homes that have been staged effectively. This is because staging can have a powerful influence on the mind of a prospective home buyer. This is a potential advantage that you should take seriously. You cannot change the appraisal value of your home, and you cannot control the real estate market. One of the main things that you can control, however, is staging, so take full advantage of the opportunity.
As a buyer, it is also worth understanding the power of staging. You should understand the influence that both staging and modern digital photography can have on your perceptions about a given property. In addition to the fabulous quality of modern, high-resolution digital photography, there is the even more formidable factor of digital photo editing. Modern home listings frequently feature photography that has been edited and enhanced so as to maximize the “wow” factor for the buyer. This is why you shouldn’t be phased by great listing photos alone. Always go and see a home in person, and always insist upon getting a home inspection before proceeding.
Remember that inspections are important
When you’re selling a home, you don’t necessarily need to get an inspection prior to listing your home for sale on the St. Louis housing market unless you want to. In most cases, the prospective buyer will get an inspection anyway. The buyer may sometimes choose to waive the inspection, but a savvy buyer won’t.
When you are a home buyer, getting an inspection is an essential step. The inspection is your opportunity to determine if there is anything that you should know about a home. There is much more to a home than meets the eye, and in fact, most of the critical infrastructure of a property is hidden from view. As such, you should rely on a home inspection to give you peace of mind before proceeding.
Be willing to negotiate
Negotiation is one of the most essential components of the process in any real estate transaction. Whatever your position in the market as a buyer or seller, you can improve that position with skillful negotiation. This means mostly a willingness to be flexible when it comes to factors such as price and inclusions, as well as a generally positive, win-win attitude. Other details — such as closing costs — may also come up for negotiation.
Work with the same agent when you’re buying and selling
Assuming that you are buying and selling a home at the same time, the most straightforward course of action is to partner with the same agent for both transactions. This will be much simpler for you, as you can plan out your entire real estate experience with one professional by your side.
However, in cases where you’re moving out of state, it may not be possible to work with the same agent for both your sale and purchase. In some cases, real estate license reciprocity may allow you to work with the same agent across two different states, but this is not always possible. When it is possible and practical for you to do so, work with the same agent for both transactions.
Start planning with an expert agent right now
The best tip for buying and selling a home at the same time is to work with an agent who understands your goals and can help you to achieve them with less stress. Bethany DeMaggio is a real estate agent who is highly in tune with the St. Louis housing market. In fact, she’s been rated as one of the top 5% of agents in her area. When you’re ready to start planning your real estate purchase or sale in the area, reach out to Bethany DeMaggio for trusted guidance.
*Header photo courtesy of Shutterstock
