UGANDA, Kampala | Real Muloodi News | You may think you are ready to hire a real estate agent to buy or sell your house, but there are several things to consider before you hire an agent including your budget, schedule, and more.
You’ll want to kick-start pre-listing tasks notorious for taking months to complete. Not to mention invest time in researching real estate agents to ensure you find the best agent for the job.
So before you make that call, here is a list of things that you should consider before buying or selling a house:
1. Financing
Look at the financing options available for you, such as various mortgage facilities with different lenders. This will help you decide what you can afford. It is important to stick within your budget – looking at houses that are outside of your price range will only lead to disappointment, or worse, financial strife.
2. Survey the Market
It is essential to learn and understand the current state of the market by doing ample research, whether you are buying or selling. If you are selling, look at homes similar to yours in your area, with the same number of bedrooms and bathrooms, around the same age and condition.
Also remember, the information you find online may be limited, such as you will only see asking prices, not prices homes actually sold for. Your real estate agent will help you with more details, such as how long a particular house has been on the market, are negotiations possible, and what the closing prices are.
While researching, try to avoid falling in love with the properties you find as they may not be in the market when you are ready to buy.
3. Make Your Home Presentable
You may have heard of staging your house for potential buyers, but you should also have it prepared before a visit from your agent. This will help your agent to see the full potential of your home so that they can better market the property.
To prepare your home to be put on the market, ensure you declutter. For example, pack away extra shoes and clothes, remove belongings that are on display so people can imagine living in the house without your stuff all around. For example, remove any family pictures or your kid’s drawings up on the walls, as they detract from prospective buyers imagining your house as their own. Have clean and clear counter-tops, and generally have more open spaces.
4. Clean
A clean home sells itself! It shows the nature of the owner and suggests it was maintained. Ensure that your door, mats, lights, shades, etc., are clean and free of insects. Ensure that your bathroom is also clean and tidy!
5. Do Cosmetic Renovations
You may need to fix several things before opening your house up to the market. One thing to consider is to repaint the house with neutral colours. This allows people to imagine themselves in your place. If you have a garden, make sure you tend to it. The front of your house will make the first impression. Ensure there are no broken things in your home. If buyers see things that need fixing, this may prevent them from buying altogether.
6. Scouting
Don’t settle for the first agent you see, do your research! Ask people you know for their recommendations and references. You can even ask the agent to provide you with references from clients they have recently worked with, and be sure to follow up with them.
Look for an experienced agent who knows your area and has a vast network. You want a real estate agent that knows the market, fits into your budget, can work with your schedule, comes with strong references, is professional, will respect your decisions as a seller, and will work hard to sell your old home quickly.
Remember, agents can charge up to 10% in commission for closing a deal. So, ensure they work for it and get you the best deal.
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