Selling a home can be an emotional experience, but rather than allow your emotions to get the best of you, think of selling your home from a new perspective.

When you approach the home-selling process as a business or financial transaction, it can become a more relaxing and practical experience.

Use these five tips that every home seller needs to know to get you through the process.

Know the Inventory Level

 inventory-levelImage via Flickr by Images_of_Money

Selling a home has two sides. There’s your side as the seller and the side of the buyer. You have to know and understand both sides. Overall, it comes down to understanding the law of supply and demand. When you know the inventory level of the homes for sale, you can decide if it is a seller’s market or a buyer’s market. Setting the price, negotiating tactics, and so much more of the process depends on whether the market is on your side or if it is on the side of the buyer.

New Construction vs. Existing

In addition to finding out the existing homes that are on the market, you also need to know about new construction homes. New construction can also affect the price you set for your home, and when you choose to put your home on the market. If homebuyers know they can wait a few months to buy a brand new home with the same amenities and in the same price range as your home, they can choose to wait. On the other hand, if new homes are on hold, it can help you get your home off the market quicker and to sell it at the price you want.

Price it Right

While your home might feel like it is worth a million bucks to you, you have to be realistic when you set the sales price for your home. Compare homes on the market in your neighborhood and within a few miles of your home that have the same square footage and amenities that your home has. Additionally, look at recent home sales that meet the same criteria. This gives you an idea of how much you can expect to sell your home for, so you can price your home in the market instead of pricing your home out of the market.

Prep Your Home

Your home only has one chance to make a great first impression. Before you take listing pictures or allow the first interested buyer through the front door, take as much time as necessary to prepare your home for visitors. This means the home requires scrubbing and cleaning, as well as making repairs and replacements of broken items. De-clutter storage spaces, pack up personal belongings and arrange furniture so that it highlights the best features of each room.

Follow these four tips to help you through the process of selling your home. It can make the process faster and easier for you as the seller. If you have any questions, turn to the Fortress Investment Group, LLC to aid in your selling research.