One of the most frequently asked questions we get at St. Louis Realty Advisors is regarding how sell a home in St. Louis. If you are asking how to how to sell a home in St. Louis, the below 6 point plan is a great place to start!
- Find Your Bottom Line
Get a feel for what your home could sell for; search online for nearby, recently sold homes similar to your home and then check out open houses in person. Once you have a ballpark price, subtract 6% to 9% for agent fees, closing costs, and taxes, and then see what’s left to pay off your mortgage balance.
- Renting vs. Selling
If you can rent your home for more — and you don’t mind being a landlord — you can buy a new home without selling your old one. Look at Craigslist rentals in your area to get an idea of how much your home could get per month. Most lenders say that rents have to be at least 25% higher than your mortgage payment for you to make money because of vacancy, taxes, and repairs. Multiply the monthly rent by 180 — 15 years worth of rent — and compare it to the price you could get for your home. If the sale price is higher than what you can make in rent, it usually makes sense to look into how sell a home in St. Louis
- Choose an Agent
Evaluate two or three agents to assist in your quest to sell a home in St. Louis; don’t just hire the one who promises the highest price and promises they know how to sell a home. Ask each agent which homes they’ve sold in your area, how they’ll market your home, what they charge in fees, and how quickly their last five to 10 listings sold. Read customer reviews. Be wary of agents who will lock you in for six months with a listing contract. What’s most important is an agent who will fight to get the deal that’s best for you, not just the one that’s easiest for them.
- Decide When to Sell is Important as How to Sell a Home in St. Louis
For the best chance of selling your home quickly and for the best price, list it in the spring. According to a CoreLogic study that analyzed more than 7 million homes in 2014 through 2016, 39% of homes listed in the spring sold within 30 days and 15% of them sold for more than list price. Winter came close at a second place, followed by summer, then fall.
- Set the Stage
Your home will need to impress prospective buyers all on its own. Consider staging an empty room with furniture or clearing the clutter from a crowded space. Fill each room with natural light. Do what it takes to ensure your home photographs well and looks its best in person, grabbing the attention of every potential buyer who walks through the door.
- Don’t Remodel
Aside from renovating a severely outdated kitchen or bathroom, any home improvement that doesn’t add square footage isn’t worth it. Some less drastic, cosmetic improvements are exceptions: steam cleaning the carpets (especially if you smoke or have pets), washing the windows, overhauling the lawn, hiring a home-cleaning service, pressure washing the deck, and cleaning the gutters. That stuff can cost more than $1,000 but it’s worth it. Your agent should know good, local people for everything involved in how to sell a home.
Phew, that sounds like a lot of work just to sell a home in St. Louis! Of course, you can skip the traditional process and choose to work with an area home buyer to sell a home in St. Louis. St. Louis Realty Advisors buys homes in any condition regardless of your situation and best of all; you don’t need to go through the tedious steps above to list your home on the real estate market. Give us a call today at 314-227-0000.