No matter which side of the fence you happen to land on, buying or selling a home is one of the most stress-inducing activities known to mankind. With an abundance of homes for sale on the market, home sellers are left with too much competition while home buyers are simply left with too many options to consider. The real estate market is always evolving, here’s what buyers and sellers alike ought to know about the inner workings of the house market.
Home Sellers
The sad reality of the business is clear, but many people refuse to believe that no one will buy the home if it is priced on its value alone. Too many home sellers believe that their equity is something that can be recouped; this can ultimately scare away potential home buyers once they see the asking price of a home. Since up to 92% of people use the internet to find homes, home buyers don’t even need to see your home to determine whether they are interested or not. Outdated or poorly maintained homes have no chance of competing in the modern housing market — investing in home improvement projects is one way to add value to your home and thereby increase its potential to sell.
Home Buyers
Buying a home is a new experience for 32% of home buyers, and generally an unfamiliar experience for everyone else. Up to 59% of homeowners feel that they do not fully understand the terms of their mortgage, which can result in several costly issues down the line. Recent studies found that home buyers, when left to their own devices, would generally see close to 20 homes over the course of 10 weeks; many of which still could not settle on a home to buy.
The Benefits of a Real Estate Service
Real estate agents can help home buyers hone-in on the most suitable homes to fit their needs and budget while simultaneously helping home sellers direct buyer attention towards their property. While online resources are certainly becoming one of the most popular methods for buying or selling a home, up to 78% of buyers found their real estate agent to be a wealth of information and crucial to their real estate experience.
