Considering a Relocation? How does owning a house affect your decision?
Are you a homeowner considering a relocation? If you watch TV, read the paper or just plain talk with friends you may have heard that the housing market is not doing so well these days. But is what you’ve heard really the whole truth and nothing but the truth? How do you know that everything you hear is an absolute fact? You don’t. So how do you seriously consider a new job that you have to relocate for? Consider these important items before moving forward:
Review your market:
Knowing the facts about your home, neighborhood, and city are critical when considering the sale of your home. How long will it take to sell your home? How much is it worth? Do you have to do anything to get it ready for sale? A valuable tool can help you get a no-obligation picture of your home.
Home Value Analysis Tool - Cyberhomes™
This tool powered by Fidelity National Financial pulls data from property ownership, sales, and mortgage records covering more than 85% of the United States population and over 100 million properties. The site allows a prospective seller or buyer to review a particular market area by zip code or name. Consumers can pull up heat maps that give home values, change in home values over time, cost per sq ft., and even if the area is a buyers or sellers market. The market is not equal and the truth is that every neighborhood is different. Don’t assume your home can’t be sold.
Understand your relocation benefits:
Relocation benefits are just that…..benefits. Some companies will have different benefits than others and not all companies will pay for relocation. It is important to understand that relocation is a benefit to you and guaranteed if you move for a position. Know what it is that you will need in order to make a move, but also understand that the employer may not be able to provide those benefits to you. Regardless of what your new company offers you for relocation, it is important to make sure that you know what you need. If you are requesting anything outside their offer to you, you will need to support your request with substantial reasoning behind it.
You’ve accepted – Congratulations – Now how do you sell the house?
Select the right agent:
You wouldn’t have your car fixed for $10,000 without having a few estimates done first would you? Why should it be any different for your home? Interview several agents, request marketing plans in writing, and hold your agent accountable. Before signing a listing agreement ask hard questions about the agent’s track record. Try not to use a family member or friend if you don’t feel comfortable sharing financial information with them. Remember you are the customer and you are interviewing the agent to market and sell your home. Make sure that you are making the right decision as this is a very critical job.
Stage your home:
There are companies out there that you can pay to stage your home to appeal to a buyer. In fact some real estate agents even have interior decorating degrees. Rely on those people to help you and listen to their recommendations. They may not sound logical or look right to you, but it may be the best way to market to a buyer. Make sure your home is in tip top shape and feels like a model. The more you have to ask the buyer to use their imagination, the hard the sell.
Check out a few articles on About.com for more help.
Getting your home ready to sell
http://homebuying.about.com/od/sellingahouse/ht/homeprep.htm
How to stage your home
http://homebuying.about.com/od/sellingahouse/qt/WhatisStaging.htm
Price your home right:
Any real estate agent will tell you that pricing your home right is critical in a buyers market. Be realistic. Some agents are even recommending an appraisal prior to listing the home to get a certified value on the home before it hits the market.
Talk to your agent about price reductions in the future. What is the plan, do they have one, and will you need to reduce the price? Know what you are getting into so that you are not surprised.
Offer Incentives:
Offering buyer incentives is not uncommon in this type of market. Throwing in a home warranty, appliances if they are not customary in your area, closing costs, and even cash for redecorating are regularly used. Another way to entice agents to bring their buyers to you is to throw an incentive towards the agents. This market is hard on everyone and the real estate agents have fewer sales than this time last year. If an agent knows that they will make an extra $1,000 by having their client look at your home it will motivate them.
Consider alternatives to selling:
Some candidates considering a relocation are pondering renting out their homes versus selling. In order to rent out your home there are many facts to gather to ensure a smart financial decision. If you are in a situation where you may have to sell at a loss, will the appreciation of your home make up for the loss after your rental period? What is the potential tax impact? Are you ready to become a landlord? Can you really afford to rent out the home? Many people are quick to jump into this option and don’t often consider all the facts. Doing your research before renting out your home is a good idea to make sure that you are not adding undue complications.
Sell or Rent Calculator - Forbes
The best possible scenario is to consider all aspects of renting versus selling the home to ensure that it is a smart financial decision.
The bottom line is that this is not the strongest housing market. This makes it critical to really do your research. If you are not sure where to start a relocation professional can help. Working with someone inside the industry puts you ahead; they can give you ideas, and other options outside the box. Do not take advice from someone you talk to at work or at the local supermarket. Your home is an investment and should not be sold without considering all your options and getting help from all possible professional sources.
How FPC Can Help – Partnering with a Relocation Professional
FPC partners with Recruiter Relocation to help you determine what is best for you and your family.
When working with Recruiter Relocation you will be assigned a dedicated Relocation Coach to assist you with all aspects of your relocation. Their assistance starts prior to your first face to face interview with a potential employer. They have a wide-range of relocation services in addition to pre-hire support. The Relocation Coach is there to strategize with you and help you gather information and consider all your options when selling your home.
FPC will work hard to match you with the right client company while Recruiter Relocation works to help match you with your new community completely free of charge. These services are all compliments of working with FPC to help you make the next step in your career.