Selling a home in Springfield may be as challenging as buying one, if not more difficult. Your property is already one of the hundreds of Springfield, MA, homes for sale, so you’re up against stiff competition.
You’ll also need to prepare your apartment for sale, and the required repairs will eat up a significant portion of your finances.
Let’s not forget the emotions that come with selling your house. You’ve likely lived in the building for years, with many memories attached to it. Parting with the property can sometimes feel like letting go of these emotional ties.
However, aside from these factors, the most shocking aspect of selling MA real estate for most home-sellers is how long it takes to get a home off the market.
Unless you live around neighborhoods where houses are selling fast, you may have to wait a few weeks to find a buyer.
Regardless, while selling real estate homes in Springfield isn’t a walk in the park, it’s certainly not impossible.
If you’re considering selling your single or multi-family apartment in Springfield, we’ve detailed some key real estate sales tips to help you get your property off the market faster than the average apartment. Dive in to find out how to sell houses in Springfield with relative ease!
Top Tips for Selling a House in Springfield
Selling residential real estate is a complex process that requires a defined plan. You won’t get your property off the market with a “For Sale” sign or by listing it on a real estate website.
You need to leverage proven real estate sales strategies to find your ideal buyer within your Springfield community. That said, here are some proven tips to help you sell your Springfield, MA, real estate without hassles:
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Set a Realistic Timeline
Considering the competition and complexities of the Springfield real estate sector, it may take a while to get your home off the market. In fact, houses in Massachusetts typically take around 70 days to close, and several factors can affect this timeline.
For example, your property’s price can impact how attracted buyers are to your property. According to data on Zillow, the typical value of Springfield, MA, houses for sale is $253,867. This figure could rise to as high as $275,101 if you live in Sixteen Acres.
That said, setting a price beyond what’s obtainable in the local market can keep your property up for sale longer than expected. Aside from your apartment’s price, your agent’s marketing strategy can also influence how quickly you can sell your house.
Opting for an agent who’s a terrible negotiator or doesn’t understand the local terrain can hinder you from getting a buyer for your Springfield property.
Considering all these factors, you should set a realistic timeline for getting your apartment off the market. Don’t expect to sell the building within 2 days or a week. At best, you should expect to get a buyer for your property within a month or two.
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Hire a Local Agent
An agent that understands the local market and knows how to sell Springfield real estate homes is your most valuable asset for getting a quick sale.
If you’re a newbie seller, you probably don’t know how the property investment market works. You’re unaware of buyer behaviors and what investors look for in a residential property.
You also don’t know how to price your property accurately to get a sale. In addition, when you eventually get a buyer, you probably don’t possess the negotiation skills to seal a favorable deal.
Thus, you need a property investment professional to help you to navigate these hurdles.
With a top-tier local agent on your side, you can position your multi-family property to stand out from the competition. You’ll also likely get value for money, as they’ll ensure your apartment sells for the right price.
However, we’d recommend executing due diligence before hiring a realtor to sell your house. You can start your search for an agent online, as the internet readily provides comprehensive information of top-tier local realtors.
Ensure you evaluate the website of any agent you’re considering, and look at their reviews, experience, and track record. Keep an eye out for how successful they’ve been at selling Springfield real estate homes for sale. This information will give you an idea of how quickly they can get your multi-family building off the market.
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Employ a Real Estate Attorney
An attorney is just as invaluable as your agent in a real estate transaction. While your agent understands the local market, they likely don’t have in-depth knowledge of the legal terminologies in a real estate contract.
They can’t spot any gray areas in the title deed that could delay your sale. Only an attorney can navigate these areas. As such, you need one on your side for a hassle-free transaction.
That said, conduct extensive research before hiring your property investment attorney in Springfield, MA. Similar to searching for an agent, look for experience and track record. However, you should also consider attorney fees. Don’t hire an attorney beyond your budget.
You can request a recommendation from your agent to make your search easier. Realtors typically have an extensive collection of associates that includes real estate attorneys. So ask your agent if they have any reliable property investment lawyers they’ve worked with in the past.
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Upgrade Your Property
After spending a couple of years in your house, it has probably experienced a bit of wear and tear. Therefore, you want to execute some upgrades to get it looking fit for the market.
These repairs are necessary because buyers evaluate every room in houses for sale in Springfield. They’ll review your bedrooms, bathrooms, and dining rooms to determine if it meets their standards.
Aside from the fact that homebuyers evaluate a property before purchasing, architectural upgrades can also increase the value of your single-family apartment.
That said, don’t hastily repair every inch of your property to increase the price or impress a buyer.
Housing repairs can be costly, so you want to be strategic with your renovations. First off, we’d recommend fixing any broken furniture. Replace damaged baths, and ensure you add a fresh coat of paint to the walls.
You can also pay for an inspection to spot defects you missed out on your own. Your buyer will probably conduct an inspection, so it helps to execute one beforehand to fix any issues with the property.
Next, you should install features buyers consider appealing in real estate for sale in Springfield, MA. Your realtor will know what you need to remodel to attract buyers, so you should seek their opinion on this aspect.
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Leverage Professional Photos for Your Listings
After upgrading your apartment, your agent will probably list it on an MLS (multiple listing service). This platform will be most sellers’ first contact with the building. As such, you want to make it look as attractive as possible.
To do this, ensure the listing has high-quality photographs that showcase the best features of the property. Getting your listing pictures spot-on can significantly increase the demand for your property.
With this in mind, we recommend hiring a professional photographer for the job. If you don’t know any photographer, you can ask your agent if they have someone they’ve worked with in the past.
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Set the Right Value for Your Property
When selling a home in Springfield, MA, accurate pricing probably has the most significant influence on how quickly you’ll get a property off the market. Unfortunately, most sellers make more mistakes with their apartment’s price than any other aspect of the sale.
Several homeowners who list their Springfield, Massachusetts, homes for sale often opt for a selling fee that’s too high so they can recoup as much money for the property as possible. However, no one will buy your multi-family building if they sense it’s overpriced.
Conversely, some individuals set the property’s value too low to attract buyers. While this method might work, you could lose out on a substantial part of your apartment’s actual worth if you sell it for a lower fee.
Rather than listing an over or underpriced property, you should conduct due diligence to ensure you get the correct value for your residence. One handy tool you can use for this task is Zestimate from Zillow.
Alternatively, your agent can create a comparative market analysis to determine your property’s selling fee based on the value of real estate in Springfield, Massachusetts.
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Consider Closing Costs
To accurately determine how much you’ll recoup from selling your single-family apartment, you need to consider the closing costs you’ll pay during the transaction.
Your agent will have information about all the closing fees that come with selling your property, so you should discuss it with them.
Nonetheless, you’ll typically have to pay around 6% of the apartment’s selling fee as your realtor’s commission.
If you hire an attorney to facilitate the sale, you’ll also be responsible for attorney fees. Transfer taxes and recording costs are part of a seller’s closing costs, as well.
However, you may not pay IRS taxes on the profits from the transaction if the single-family building was your permanent residence or you lived in it for about two of the last five years.
Conclusion
Selling a home in Springfield, MA, may look easy on paper, but it’s a rollercoaster journey in practice. With multiple real estate homes for sale in SPFLD, MA, the chances of getting an early buyer seems slim.
However, getting your property off the market quicker than you expected is still possible if you leverage the right strategies. As we’ve mentioned, you want to start the selling process by hiring a realtor.
An experienced local realtor knows proven techniques to get the right buyer for your home for sale in Springfield. You should also work with your agent to set the correct value for the property and remodel the apartment. Finally, don’t forget to hire an attorney to help you to navigate the contracts for the transaction.
By utilizing these tips, you’ll oversee a hassle-free sale and recoup enough money to purchase your next dream apartment.
First-time home-sellers typically struggle to navigate the Springfield, MA, housing market. With little knowledge or experience about the local property investment sector, they’ll likely make a handful of mistakes that prevent them from recouping substantial value for their property.
However, rather than try hit-and-miss selling strategies, you can hire our team at Homes By Ardor to facilitate your apartment’s sale.
As the leading and fastest resource to buy and sell houses in America, we possess in-depth insight into the US housing market alongside a dedicated team of realtors that can help you get your property off the market in a heartbeat. The best part? We’ll ensure you get the best value for your residence with no compromises whatsoever.
In need of expert realtors to help you sell your property in Springfield, MA? Reach out to us now, and let’s begin the process of sealing the building’s sale!
FAQs
Do I Need a Lawyer to Sell Residential Property in Springfield, MA?
No, Massachusetts’ state laws don’t require you to have an attorney before selling rental property. However, it helps to have a lawyer on your side to help you review paperwork and contracts during the transaction.
Will I Have to Pay Taxes When Selling Houses in Springfield, MA?
Yes, you’ll have to pay transfer taxes after selling your apartment in Springfield, MA. Transfer taxes in Springfield, MA, are fixed at $2.28 per $500 of value.
Can I Sell Homes in Springfield, MA, Without a Realtor?
You can sell your rental property in Springfield, Massachusetts, without a realtor (typically called For Sale By Owner or FSBO). However, an agent is your best bet at navigating the market and getting the correct value for your building, especially if you’re a newbie seller.
Kris Reid is the CEO of Ardor SEO, a company that helps real estate professionals get more leads and customers to predictably grow their business.
Over the years, Kris acquired extensive knowledge of SEO and its practical applications in various industries, with the main focus on real estate.
In 2021 Ardor launched the Icons of Real Estate Podcast to share proven strategies from the top producing icon agents with the real estate community.
After obtaining the real estate license in 2022, Kris joined eXp Realty and launched Homes by Ardor, the platform that was built to be the fastest way to buy or sell a house. Homes by Ardor also provides leads for its partner companies and realtors.
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