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M&D RESIDENTIAL BLOG
Published By: Danny Perez & Paige Kimball
Published June 10, 2022 | 3:34 p.m.
How to Manage the Stress of Selling Your Home:
We have compiled the most comprehensive list of information, statistics, to-do’s and guides, all in one place, to help you feel less stressed about selling your home.
Did you know that a whopping 36 percent of home sellers cry during the home selling process? According to a study by Zillow, you are certainly not alone if you have found yourself stressing over everything from whether your home will sell during your specified timeframe to moving because of a big life event, getting the price you want, or even about the lack of control with the overall selling process.
That’s why I want to break down the entire home selling process for you and explain how a good real estate agent and great real estate firm can simplify the process, take the stress out of the situation, and keep you from basically losing your mind while preparing to sell, putting your home on the market and getting yourself into your new home with the least amount of frazzle and strain possible.
Here is your ultimate guide to feeling prepared, being in-the-know with what we know, so that we can make this experience a good one for you and not a big, scary unknown! These are the top items that people report being stressed about when it comes to selling. So we are going to address each of these stressors, thoroughly, one by one, to give you some peace of mind!
According to the latest data from the North Texas Real Estate Information System, homes in the North Texas area are selling like hot potatoes still. The average home right now in our area sits for only 8.25 days on the market before being snatched up.
In Hunt County, the average is 10 days, in Rockwall County it is 7 days, in Kaufman County it is 10 days and in Dallas County, just 6 days! So have no fear on the selling front if you need things to move quickly for you, the market is your friend right now. So try and not stress about this point too much.
Research has shown that moving can be more stressful than divorce. We get it. The amount of details involved can surely add up and make you feel like having a nice, big cry. Then, moving due to a breakup or divorce? Well, that can really make things overwhelming.
So why do people move? The top reasons include: relocating to a better home or newer home, establishing their own household, family reasons, new job or job transfer, cheaper housing, to own instead of renting, change in marital status or wanting a better neighborhood with less crime.
A survey conducted by OnePoll on behalf of North American Van Lines found that 64 percent of people said their most recent move was one of the most stressful things they had ever experienced. But on the other side, of those who said they hired movers, 94 percent said it was completely and totally worth it! Hiring movers is one thing you can do to take the stress off!
Another thing you can do to take the stress out of moving, whatever major life event is occurring, is to make a list! Make a list of everything you need to do and take it step by step. Here is a list of the most important items so you do not get lost in all the research and hundreds of item task-lists on the web trying to Google what to do!
This is where we have your back at M&D. Our agents ALL have 5-Star ratings. This is rare and unique, and we hope you will take advantage of our regularly trained, seasoned agents that can make whatever circumstance you’re going through ten times easier by being competent, understanding, guiding you through the process and getting you the best price by utilizing their top-notch negotiating skills.
Just do easy fixes, like painting the front door or planting some flowers and ensuring your grass stays mowed and limbs stay trimmed!
Go ahead and start that packing process. Take out everything you do not use regularly and most personal items. Box these up and put them in the garage, as this area will not be photographed for the home selling process. The general rule of thumb is to remove 50 percent of the items in the home. This will help it sell better and help buyers picture themselves living in the home.
Neutral colors are safer because you do not have to worry whether the buyer will hate that one red wall that you love! This is one thing you can do to make the home sell faster and for a higher price.
Walk through with your realtor. They will help you to identify the small things worth fixing up and what you can do to get your house ready to put on the market.
Instead of stressing about the house being clean, go ahead and hire that cleaning company once you are decluttered to help you get everything spic and span. This will make it easier for you to maintain throughout the home selling process (which, remember, might only last for 1 week! So don’t stress too much about this point!).
This may mean rearranging some furniture to showcase each room in its best light, you might want to buy some fresh flowers or plants to place strategically around the home (again, your excellent real estate agent will help advise you on all of this so you aren’t going it alone!). The last thing you want to do is definitely remove any pet smells!
Get your deed, homeowners insurance information, loan information, property tax statements, appliance warranties, title report, purchase agreement and any other information regarding the property all where you can find it.
This is where your real estate agent will really shine, as well as the firm that backs them up. There are two important aspects that you have GOT TO GET RIGHT if you are going to get top dollar for your home. The first aspect is setting the right price and the second is how well the home is marketed and what kind of exposure it gets in the marketplace, especially digitally (online).
So what does this mean? You don’t want to leave money on the table, but you also do not want to price your home too high to where it sits and gets zero interest. Here’s is what can happen in both scenarios when you do not have an agent at your side that can advise you on the “sweet spot” for selling your home.
If the home is priced too low, you risk decreased buying power moving forward, lost value in your home, and it can even deter buyers who may think there is something wrong with the home.
However, if you price too high then you risk it sitting on the market a long time, deterring buyers due to being overpriced and then risk having to do a price drop, which can really set the wrong tone and make people again think there is something wrong.
At M&D, we understand all of this. This is where we really can help. And, we’ll fill you in on a secret. We tend to not like to price too high but would rather select just the right amount that will get you multiple offers, likely over the asking price. What we try to do is set the perfect price that will create a frenzy for the home, as opposed to buyers being wary of viewing your home and making an offer! Read more about why setting the right price matters here.
And if you’re still concerned, don’t be overly so. Here is a glimpse into how much home prices have risen over the past year and where they sit right now – so your forecast if you get in touch today looks pretty good for getting a great price on your home from where we are sitting! Look at those numbers!
Homes are up an average of 22% in North Texas from where they were this time last year… And they are up a WHOPPING 60+ percent on average from what they were just three years ago. So you stand to make a pretty good profit with all of that equity you’ve gained. For instance, if you bought a home for $338,000 in June 2019 in Rockwall County, that same home is worth $552,500 today! That’s a HUGE jump! And demand is still pretty high in the area. While true, there are a few less buyers due to rising interest rates, we are still seeing our clients get over-asking offers and seeing homes selling within a week or so on average.
Take a look…
If your real estate agent and company is not known for its marketing, you are with the wrong company and realtor! You should always ask before choosing an agent what all they will do to market your home.
Here is what the list SHOULD include and what we do for clients at M&D. M&D realizes how important this is to our clients being able to get the best price with the least days on the market, which is why it’s part of our company’s mission to utilize cutting-edge marketing and why our company is one of the only firms around that has its very own in-house marketing team comprised of the best assembled experts in real estate marketing, including social media experts, videographers, photographers, database specialists, SEO experts, digital ad experts and more.
This is what the marketing for your home SHOULD include:
According to a study by Unbounce, including a video on a landing page can increase conversion rates by 80 percent. Also, viewers retain 95 percent of a message seen in a video compared to just 10 PERCENT when reading it (Forbes). Want a sample of our work to get a better idea? Just check out our Facebook, YouTube or TikTok where you can see videos on all of our recent listings!
Why is utilizing social media important? According to a recent study, there are more than 3.78 billion social media users who on average, spend 2 ½ hours per day on social media. This is where your potential customers are – and if your agent does not know how to reach them and target them and speak to them, you’re way less likely to gain the exposure you need on your home to get more interest and offers. At M&D, we utilize targeted digital media ads, and post regularly our listings to our 20,000+ followers on Facebook, as well as our fans on Instagram, LinkedIn, TikTok, YouTube and Google. We post video, photos of the property as well as Facebook and Instagram stories to ensure your home gets MAX exposure! It’s what we’re known for and what any good firm and agent should be doing for their client!
Utilizing all of the media does nothing without the foundation of providing a true glimpse of the home. This is done through professional photography that shows your home in the best lighting and angles possible, as well as through detailed beautiful descriptions that discuss the best features of the home (and do so in a way that makes people feel like they are actually right there in the living room just drooling over your beautiful floors, fireplace and oh, that kitchen!)! You also want a beautiful sign right out front so that people will see your home is for sale when they drive by and know how to get in contact with your agent. We have beautiful, visible signage created to get the attention of those passing by.
Just like when we were discussing the importance of being visible online above, this is another way at M&D that we ensure you are SUPER visible. We utilize a key service that will actually post your listing to more than 100+ internet sites. So whether someone comes to the M&D site or goes to Zillow, Trulia or MLS, Remax or anywhere else, they are going to see your home listing! Awesome, right?
Some agents may not want to take the time to do an open house, or perhaps they are inexperienced with doing one – but this can be a key advantage to selling your home! Did you know that 53% of buyers, according to NAR, said they used information gained at an open house to make their final buying decision? Open Houses give the buyers a glimpse into the home, provide you with a feedback mechanism, and can lead to more serious offers.
Two additional worries that seem to be top of mind for a lot of home sellers, and might be on your mind as well, is whether potential buyers are ACTUALLY interested, and, about having to negotiate with potential buyers when and if that time comes. In fact, 44 percent of home sellers who were surveyed said they worried about whether buyers were seriously interested, and another 40 percent said they were stressed about negotiating with buyers, according to the Zillow study.
So let’s address each of these stressors one at a time…
This is something that someone who is anxious about selling their home will commonly feel…just because that’s a natural worry. To be honest, in this market, YES, they are truly interested! In fact, many buyers out there have been at it for a little while putting in multiple offers above-asking price trying to find the home of their dreams. If you own a home in North Texas right now, odds are good that you are definitely going to have AT LEAST an interested buyer or two in a fairly short timeframe as long as the home is not overpriced.
According to NTREIS (North Texas Real Estate Information System), as of June 10, 2022, the average number of showings per listing in North Texas is 7.65. Granted, that is somewhat lower than it was at this time last year, when it was an average of 9.5 showings per listing… However, it still shows the average home has at least several seriously interested potential buyers. Hopefully that alleviates your fears a little on this particular point.
First off, try and not worry about this one AT ALL. This is going to be the job of your experienced agent. If they are experienced enough, they will know EXACTLY what to say and do how to do it in order to negotiate the best deal possible. At M&D Real Estate, we were recently ranked #1, compared to the other local top-rated brokerages in Rockwall County, for getting clients the most money over list price, according to a BrokerMetrics report. How do we do this? We train our agents every single week, over and over again, on contracts and how to negotiate for their clients. So get a good agent who knows what they’re doing and has a proven track record of doing it well.
And next, to be honest, this is still a seller’s market big time. Homes are, on average, still getting multiple offers, even if those offers are less forthcoming than they were just a year ago due to rising interest rates. The Dallas Fort Worth market is, after all, slightly insulated due to the large population growth and high demand in general for homes. Did you know that DFW’s population increased more than any other metropolitan area in the nation from July 2020 to July 2021, according to the U.S. Census Bureau? And it’s expected to continue! So because of this high demand, this particular seller’s market we have going on in our area might be here to stay. When it comes time to negotiate, have the right agent on your side and try not to fret knowing your starting off in a good position due to all the demand for housing in the North Texas area.
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