Your home is likely your most expensive asset. That is why when you sell your home I can assist you in making sure you understand all the terms and conditions involved to ensure you end up on top. I have compiled these tips to help sellers like yourself understand the key points to watch over and to help you better understand the home selling process.
1. Shop The Market
To learn how to make your home look better, you can visit other homes on sale and see what you like and don’t like. Chances are other buyers will feel the same way and this can help you identify the do’s and don’ts for your home. A particularly important thing to note is not just the asking prices but the selling prices as well. You don’t want to price higher than your neighbors or it could end up taking you a long time to sell. I can assist you in determining how to make your home its most attractive to prospective Buyers.
2. Always Counter Submitted Offers
Even if an offer is ridiculously lower than you were asking, always counter it. You never know how flexible a buyer may be, or how high they may actually be willing to go. If you walk away from a low offer, you may be walking away from a sale. A buyer wants to buy as low as possible. Remember, it’s not where the Buyer starts but where they end up that is important.
3. Selecting a Realtor
According to the National Association of Realtors, nearly two-thirds of the people surveyed who sell their own homes say they wouldn't do it again themselves. Most people find it hard to choose a price and market their property. In addition it can be difficult to understand the liability involved and can add stresses to an already stressful time. Since the Agent you choose will be entrusted with your most valuable financial asset, that Agent must be someone you trust and can relate to. Evaluate any prospective Agent carefully as to the specifics of the service they provide. Check out my service…a key to my success. I can offer years of experience and a dedication to professionalism. Regular contact from the Agent is essential.
A professional Realtor® knows the market and your area and can provide you with information on past sales, current listings and can develop a marketing plan for your home.
4. Set the list price of your home realistically !
Overpriced homes do not sell and in fact can be used to sell other more realistically priced homes. Review the comparables carefully. Be wary of an Agent that says they can secure an above average price for you. This is not a bidding war between Agents.
5. Tax Assessments Aren’t Always Accurate
Many consider tax assessments as a way to determine the value of a home. Unfortunately they do not always serve that purpose. Tax assessments are based on criteria that may not be related to the value of your property and thus may not indicate the real value of your home.
6. Get A Second Opinion
A second opinion can never hurt. Sometimes something you may not notice in your own home, someone else may be able to point out. Never be shy to ask for another opinion. Remember, if someone else notices a problem with your home, buyers will too! Fortunately, your Realtor® will be honest about what you need to do to make your home marketable.
7. First Impressions Do Matter!
The look and feel of a home can be the difference between a bidding war and an offer-less home. When people come to see your home, the first impression they get will determine whether or not they believe it is worth pursuing. The look and feel of your home will generate an emotional response from buyers and help them feel at home. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell.
8. Odors Can Drive Buyers Away
Pets, smoke and food smells can be deal killers in real estate. Even the tiniest odor can make buyers uncomfortable. It is your job as the seller to hide these odors and make sure signs of smoking and pets are not visible. Buyers assume that homes owned by smokers or homes that have pets will not be in the same condition.
9. Don’t Tell Buyers Why You Are Selling
Why you are selling your home can affect the way you negotiate and market it. Keeping these ideas to yourself gives you the upper hand in negotiations with potential buyers. If you are asked, simply say that you need something different from what you currently have. Whenever possible, it is best to be out of the home during showings. Let the Agents do their job. If you are at home, avoid being in the same room as the Buyer and their Agent. Again, let the Agent do their job.
10. Let Buyers Envision Themselves Living in Your Home
You want to avoid making potential buyers feel like they cannot see themselves living in your home. It is important to make the home look welcoming yet neutral so that the buyer is not forced to think of the home in a particular way. They can use their imagination to arrange items in the home and make it comfortable for them. Remember, if a buyer cant see themselves living in your home, why would they even consider buying it?
11. Don’t Let Emotions Get In The Way
Approach selling your home as a business deal. Even though you may have years and years of memories in the home, if you want to successfully sell the home, you will have to detach yourself and focus on the business aspects. You'll definitely have an advantage over those who get caught up emotionally in the situation.
12. Make Sure You Know Why You Are Selling
Make sure you have a clear understanding of why you want to sell your house and what are the key things you are looking for in return. Some people put price above all else, while others are more concerned about dates and conditions. Be sure you know what is important to you so that you can define your approach and stick to it. An experienced Agent like myself can assist you with this aspect. Depending on your goals, your approach can become very different.
13. More Interested Buyers Can Bring Higher Prices
The better you are able to market your home, the more buyers you can attract. If you have multiple interested buyers this can give you the luxury of choosing the price and terms that fit what you want. You will have control over the sale and may even be able to create a bidding war to increase the price of your home. Competitively pricing and marketing your home can ensure you get the maximum exposure, thereby increasing your chances of good offers.
14. Research Before You Price
Price is key in selling your home. Pricing can indicate to potential buyers that your house is over priced or under valued. In either case, this can have a negative impact and can reduce the number of potential interested buyers. You also want to see what other homes have gone for in your area and the prices of homes you would be competing against. If you start out by pricing too high you run the risk of not being taken seriously by buyers and their agents.
In subdivision neighborhoods, typically you find homes that have similar floor plans. You can select your price by looking at recent sales in your neighborhood to give you a good idea of the value of your home. In older neighborhoods, homes can change over time as owners replace or upgrade various aspects of their home. This can cause homes that were initially the same to have very different values. In this case, as an experienced Agent, I can help you with determining your price.
15. Understand Why Your Buyer Is Interested
Appreciate the fact that Buyers have their own agenda as to which home they buy and at what price and under what terms. What you may want (if you are motivated to sell) is controlled by what a buyer is prepared to offer you. If their scenario is not acceptable, you must be prepared to move on to the next Buyer.
16. Make Your House Look Brand New
Wash, wax, dust, clean up, repair and do whatever else you need to do to make your home look like the day you bought it. Even the smallest mistake can be costly in attracting a discriminating buyer. Remember, you're competing with brand-new homes as well.
17. Sell before you Buy vs. Buy before you Sell
In today’s market it is very difficult to find a Seller that will accept an offer conditional on the sale of a home. And even if you do, you could get “bumped” out by a firm offer. The best scenario is to sell first with a long closing or buy first with a long closing. I can help you determine what is the right scenario for you.
18. Be Sure Your Contract Is Secure
By having a good Realtor® by your side, they can help you through the myriad of details and contracts etc. that are part of the process. The average person has neither the training nor experience to handle these matters themselves.
