Selling a Home in Bedford Stuyvesant

Home sellers in Bedford Stuyvesant have plenty working in their favor when listing their properties. Buyers searching in the neighborhood are drawn to its historical architecture and artistic flare. However, it’s equally as important for sellers to prepare their properties to show. When selling a home in Bedford Stuyvesant, follow this guide for everything you need to know.

When preparing a home to sell, determining its value helps sellers set a competitive listing price. It’s always best to work with a local agent equipped with resources and connections to bolster a sale. With an agent’s guidance, sellers can stage their home to appeal to buyers.

 

Before selling a home in Bedford Stuyvesant, sellers should determine their home’s value. One way to do this is to research the prices of similar listings in the area. Agents can complete a comparative market analysis to help sellers accurately assess their home’s value based on size, location, and condition. Currently, the median sales price for Bedford Stuyvesant properties is $820K. Sellers may also consider making high ROI improvements to increase their home’s value, such as bathroom or kitchen renovations.

 

Sellers should interview at least three agents to find a professional that best matches their needs. During an interview, sellers should ask an agent about their experience selling in the area, their methods for selling homes, and their communication style. Agents should also be willing to provide positive references upon request. Sellers should choose an agent that they feel comfortable communicating with, and that has a track record of success.

 

After finding the right agent, sellers can start preparing their homes to list on the market. Begin by deep cleaning the property and decluttering belongings. Then stage the property by taking down family photos, making minor repairs, and redecorating in light and neutral colors. As buyers enter the property through the front door, make the entryway welcoming by wiping down the door or replacing an old doormat. When a seller’s property is picture-perfect, an agent can order professional photos for the listing.

A seller’s agent is invaluable during the listing process as they market the home on and offline. Agents also represent sellers through the negotiation process and will explain closing steps after a seller and buyer come to an agreement.

 

To list a seller’s home on the MLS, an agent will use professional photos and write a compelling description that catches a buyer’s attention. Although the MLS is only accessible to licensed agents, listings trickle into popular sites like Zillow, Redfin, and Realtor for the public to see. An agent will also market the property by scheduling home showings, holding open houses, and providing virtual tours to potential buyers.

 

When selling a home in Bedford Stuyvesant, sellers may receive a mix of cash offers and traditional offers. Both come with their own advantages and disadvantages. Cash offers are usually ideal since financing is guaranteed, making for a shorter closing process. However, traditional offers are usually higher priced and can provide sellers with extra time to pack or finish their own home search.

 

After coming to an agreement with a buyer, an agent will guide sellers through the closing steps. Buyers who finance with a mortgage will order a home inspection and home appraisal to finalize the loan. This may cause both parties to reenter negotiations. Then buyers will complete a final walkthrough to ensure everything is right with the property. Sellers will also have to pay closing costs totaling 3.25% of a home’s sale price. Using the median sales price of $820K, sellers can expect costs averaging $26,650. This covers title service fees, transfer tax, and recording fees.

Selling a home in Bedford Stuyvesant is a multi-step process that can leave sellers with many questions. Review the answers below for answers to some common concerns.

 

Demand for areas like Bedford Stuyvesant is still high, although buyers aren’t as competitive as they once were. The annual average home selling time is 101 days but may fluctuate depending on market trends and seasonality. For a faster sale, home sellers should list in June and avoid January. Homes listed in May sold for 3.3% more than the annual average.

 

Staging a home is worth it, even in a seller’s market. Staging helps buyers visualize a home as their own, which makes them more likely to consider the property. Effective home staging also results in higher offers, as 23% of buyers offered 1-5% more than comparable unstaged properties. Staging can also decrease the time a listing spends on the market. Sellers should focus on rooms with the most effectiveness, like the living room, kitchen, and master bedroom.

 

Sellers can choose to list their home FSBO as a way of avoiding commission fees, although it might not be worth the time and effort. If a seller doesn’t already have a buyer in mind, then listing FSBO can take longer and result in a lower-priced sale. This is because sellers don’t have the same access to information or connections that an agent has. Buyers’ agents are also less willing to work directly with a seller.

Sellers in Bedford Stuyvesant should always partner with an agent when planning out a home sale. An agent has access to market data that they’ll use to competitively price a property and time out a home sale. Agents also market listings for buyers to find and can provide advice through the negotiation and closing process. When you’re ready to list your home in the area, contact the professionals on the Marlene Burns Team for expert help.