There are quite a few items that you should consider when you are thinking of putting your home on the market. For most home sellers, this is a busy time, as they are normally preparing for a move to another community, preparing to move to another home, or there are personal issues that need to be dealt with as the property is on the market.
Although anyone can sell their own home, it takes time, effort and expense. Here are some things to consider in putting your home on the market:
Understand the Market
Real Estate is local. It can’t be moved and thus you need to know what is selling (or not selling) in our area and what the current local economic conditions are like. In real estate markets home prices vary frequently and suddenly. Many articles about real estate are written in magazines, newspapers and blogs, but they may be quoting national, state or regional statistics. Make sure you know the market conditions that your home will be subject, if you plan to sell.
Price it RIGHT
If you set your selling price too high, you risk limited viewing from potential buyers. In the day and age of computers — most real estate websites ask for a price range and if home is listed to high, a potential buyer won’t even see it.
Price it too low and you may sell it more quickly, but at the possibility of making less money on the sale.
No matter how beautiful your home may be, buyers will compare it to other homes for sale in the market at that time. This is a very basic example, but most buyers (for any major purchase) will compare price and features. This is true for car shopping, major appliances and yes, real estate.
Therefore, pricing your home correctly is one of the most important factors in getting your home sold. To properly set your price, and your expectations, you will want to examine the record of home sales in your neighborhood over the past several months. It may sound daunting but we can provide you with a free Comparative Market Analysis (CMA).
The CMA will provide data regarding recent home sales (size, price and number of days on the market) as well as information about homes that have not yet sold. It allows you to view trends and other critical information that can be beneficial as you set a competitive price.
In addition to considering historical pricing information and market trends, it is recommended that sellers also think about including other incentives in the sales offering such as home warranty, assistance with closing costs, etc. You may want to even consider having a home inspection done before you put it on the market. This will give you and idea if there are any major problems that may need to be addressed. Many potential home purchasers will have this same home inspection done at the time that they purchase.
Get a Professional
By using a Realtor, we can help you prepare your home for sale by facilitating pricing, physically preparing a home for sale, navigating negotiations and much more. We are adept and experienced in working with other real estate professionals including home inspectors, home appraisers, mortgage bankers, title companies, and can guide you through the entire real estate process from selling a current home to purchasing a new home.
Being the real estate professionals, we know what buyers are looking for in the market and can help you maximize your home’s advantages. We can be much more objective about the homes ability to perform on the market, as we have not sentimental value. We also will be able to see things that a normal seller may not see, as they look (and live) with the defect or problem on a daily basis. Knowing these problems upfront and dealing with them is a huge advantage!
The real estate professional will be able to weed-out the unqualified buyers, thus when the phone call comes to you setting up the showing and you are staging your home and preparing it for the showing, you will have the satisfaction of knowing it will be to a qualified buyer.
If you are moving to a new home or relocating to a new town, you have many things on your mind and many things to do! By listing your home with a proven real estate professional, they can ease the burden of selling your home by taking care of all the details. They take all the initial calls and weed-out the unqualified buyers, answer questions about financing and schedule all the showings.
Curb Appeal is EVERYTHING!
Once your list your home, you want it to have the best first impression possible. Buyers will either rule out the home or “leave it on the list” depending on this impression.
Preparing your home for sale entails making your home appear “move in ready” in order to attract the greatest numbers of potential buyers. This is a critical element in your selling preparation. Creating curb appeal is no small feat but greatly worth it in the long run. To get started, follow the tips below.
- Inside your home, begin by removing personal effects such as photos and memorabilia. While these are the items that make your home yours, your goal is to create an environment that a potential buyer can envision as their own.
- Clean everything inside and outside of your home and develop a plan to keep your house attractive during the sales process. To help present the cleanest and brightest home, open the curtains and turn on the lights during open houses and when real estate agents are conducting showings.
- Consider enhancing rooms with a fresh coat of paint and be sure to repair items that need attention. While major remodels may not be necessary, broken items should be repaired.
- Outside, consistently maintain a mowed lawn and consider planting seasonal flowers. Also, trim hedges, trees and bushes.
Have an Open and Honest Dialog with Your Agent
The most important part of the real estate transaction is communication between the seller and their agent. It is important to get all your questions answered. There are no “silly” questions. We as agents do this on a daily basis. Most homeowners do this several times in a lifetime! Let your agent know if price or time is more important to you . If you need to maximize the price, you may need to wait longer; if you want a faster sale, you may need to be willing to negotiate on the sales price to achieve this result. These conversations are kept confidential, but it is important for your professional to know what is most important to you.
If there are items that you are aware that are wrong with the home, let your agent know. It is important to know as soon as possible so that a plan can be formulated to address the issues. Remember, most items are going to be “discovered” by the buyer, their agent, the home inspector of the appraiser during the the sales process. YOU will also be responsible (by state law) to complete a Seller’s Disclosure Form that if there are any defects to the property and they must be disclosed by you. Be pro-active with your agent, not reactive.
Exposure is Everything
Once the home is on the market, you need to get the word out to everyone. There are over 27 different websites that we send our listings. As always, there is home magazines, flyers and other advertising that is done. There are definite rules that need to be used to write an effective ad that will excite the buyer and get them interested in the home. Still one of the biggest advertising tools sill continues to be the sign in the front yard, along with the internet advertising. We can help with it all.
While the home is on the market, upkeep is so important by you. Piles of laundry, dirty dishes in the sink, dirt and lawns that need to be mowed all go back to that very important first impression and need your constant efforts.