The Real Estate market in Laguna Beach has been really crazy over the last several years which is leaving many to wonder how long this real estate boom will last. It's not uncommon in today's real estate market to have multiple offers on them which typically drives up the asking price. The question then comes into many homeowners minds is do we really need to use a real estate agent? We are starting to see more for sale by owners popping up in this hot market and if they can save a little bit of money by doing it themselves then more power to them. If you are thinking about selling your home by yourself you need to make sure you aware of these simple mistakes than many for sale by owners make. If you can avoid these then you will be in good shape.
First, make sure you understand the value of your home. Real Estate prices have been increasing so fast that it's really hard to figure out the exact value of your home. The value is often time not what properties have sold for 3 or 6 months ago but rather current homes that are in-escrow and scheduled to close soon. It's crucial that you find what these are homes are going for in your neighborhood so you have a better value of what your property is worth.
Second, pricing your home in Laguna Beach is all about perceiving value so we always recommend listing it a little bit under the market value so you can look like a really good deal which will drive prices up. If you are property is worth $3.1 million then sometimes pricing it at around $2,999,000 will make it look more attractive and hopefully attract multiple bidders that will drive the price up. This is a tricky strategy so make sure you really understand the value first before doing this. Also, if you price the home too high then that can cause your home to sit on the market and not receive any offers.
Third, make sure to use good photography on your home. There is nothing worse than looking at photos online of a property and have them be appealing. Hiring a professional photographer will go a long way to maximize the profit you may achieve on your home. We have previously listed the best real estate photographers in Laguna Beach but there are always a lot more to choose from as well. Just make sure to ask them for previous property examples and check to see if the photos look professional with correct lighting.
Finally, be open to pay a real estate agent to handle the paperwork for you. The amount of legal paperwork involved when selling a home is a lot and the last thing you don't want is to get sued or get into legal trouble while you are in-escrow. Having a real estate agent prepare the offer will also shift some of the liability on to that company which can really be valuable if a problem arrises. Selling a home can be tricky so if you have any question feel free to reach out to any of our local real estate agents at 949-355-1622 today.