Selling your house in Los Angeles may feel like it will be a stressful experience, but with the right knowledge, it could be easier and stress free. There are many things to consider when selling your home in Los Angeles, from finding the right agent to pricing it correctly. But did you know that, in some cases, selling your house directly to a professional home buyer (yes, they are the end buyer) can be a better option than hiring an agent?
Here are four surprising things you should know about selling your house.
You May Not Need an Agent When Selling Your House in Los Angeles
One common misconception about selling your house in Los Angeles is that you need to hire a real estate agent to do it for you. While agents can be helpful in many cases, they are not always necessary. For example, if you have experience selling homes or have a good understanding of the real estate market, you may be able to sell your home on your own. This can save you money on commission fees and give you more control over the selling process.
How To Identify an End Buyer of Real Estate Without a Local Agent? If your research and travels take you through Los Angeles County, Orange County, or San Diego County, you often see a lot of real estate construction, either flips or ground up construction. This signals that there’s an additional type of property buyer in your local area, the direct buyer (also known as investor/flipper).
Or you could opt to work with a professional buyer who can purchase your property outright and close on your schedule. Professional buyers are the most qualifed because they are often times paying all cash and can close quickly.
Staging Can Make a Big Difference
When it comes to selling your house in Los Angeles, especially in competitive market like Los Angeles, first impressions are everything. That’s why staging your home is so important. Staging involves setting up your home in a way that makes it look its best to potential buyers. Staging can help your home sell faster and for a higher price, so it’s definitely worth considering some or all of these steps in staging.
- Clean: Clean your entire home, including floors and ceilings
- Declutter: Remove clutter and personal items, and organize storage areas
- Depersonalize: Minimize family photos and other specific decorations
- Create a neutral atmosphere: Use neutral colors and lighting to brighten up the space
- Stage key rooms: Focus on the living room, primary bedroom, kitchen, dining room, and outdoor space
- Highlight features: Show off your home’s best features, such as hardwood floors, nice views, and storage
- Rearrange furniture: Consider floating furniture away from walls to make the space feel more open and spacious
Another perk of decluttering and depersonalizing is that you’ll have a leg up when it is time to move. Many of your important things will already be packed away, making it even easier for you when you find yourself heading somewhere new.
Your Pricing Can Impact Your Success
Another important factor in selling your home in Los Angeles is pricing it correctly. If you price your home too high, it may sit on the market for a long time and ultimately sell for less than it’s worth. On the other hand, if you price your home too low, you may miss out on potential profits. You will need to determine the home’s fair market value (FMV).
What is Fair Market Value? Fair market value (FMV) in real estate is the determined price that a property will sell for in an open market. The FMV is agreed upon between a willing buyer and seller, both of whom are reasonably knowledgeable about the property in question.
With this in mind, here are the following ways a rough FMV can be calculated:
- Use a comp analysis: A comparative market analysis will check out similar properties in the area to give you a better idea of what the fair market value of your property could be.
- Get an appraised value: A real estate appraiser can determine the property’s valuation. While not the final word on FMV, the appraised value can often suffice in the event a fair market value is needed. An appraisal also reinforces what a lender will allow a consumer to borrow on a home which often becomes by default an approximation of value on the open market.
- Find the price per square foot: You can also calculate a rough price per square foot. Look at comparable homes in your neighborhood then divide by square footage. Then take that dollar amount and multiply by the number of square feet in your home.
Keep in mind that the three ways listed above should be informed by a physical walkthrough of the property. No two properties are exactly the same, so only taking into account recent sales and price per square foot might not account for major upgrades that have been completed or deferred maintenance that needs to get done.
That’s why it’s important to work with a real estate agent, a professional real estate buyer, or do your own research to determine the best price for your home. Factors like location, market trends, and the condition of your home can all impact its value.
A Direct Sale Can Be a Better Option
As mentioned earlier, selling your house directly can be a good option in some cases. When listing the house on your own, this is known as a “for sale by owner” or FSBO sale. In an FSBO sale, you handle all aspects of the sale yourself, from listing the property to negotiating with buyers. This can save you money on commission fees and give you more control over the selling process. However, it’s important to note that selling your home on your own can also be more challenging and time-consuming than hiring an agent. It can be much simpler to work with an investor who will handle all of the details for you.
Selling your house in Los Angeles can come with a lot of variables. The process can be complex, but with the right knowledge, you can make things run much more smoothly. By considering these four surprising things, you’ll be well on your way to a successful sale of your Los Angeles property. Whether you choose to work with an agent or sell your home on your own, remember that the most important thing is to find the approach that works best for you. Fair Sale Homes is happy to answer all of the questions you have about selling your house in Los Angeles. Whether you choose to list or sell your house directly, our team can help you! Reach out to us today to learn more about what we can do for you. (626) 863-7006