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Tips For Selling Your Home
The following is based on 30 years of helping people sell their homes. I hope this helps you sell your home.
1. Streetscape is critical. People may not decide to buy your house when they pull up in front of it, but they will make a decision NOT to buy it if the appeal is not good.
2. When you focus on the landscape, DON’T REPEAT, DON’T FORGET the backyard and your view. The front gets the buyer in the door, but the back is what they see every minute they are in the home.
3. Get rid of the clutter inside. You may love the 5,000 photos of Elvis you’ve collected over the years, but it distracts from the people who see the house. Also clean out the garage and other areas where you store “stuff”. This includes attics and warehouses.
4. If it’s broken, fix it, if it needs paint, paint it, if it needs cleaning, clean it. Whatever makes your home show better, do it and do it before you show it.
5. Eliminate surprises. Have a home inspection done. This eliminates any surprises later that could delay or cost you the sale. Needless to say, fix any problems found. Eventually, you’ll have to do it anyway. The buyer will do their own inspection and demand that you make repairs or lower the price so they can do it and most buyers won’t want to deal with your issues.
6. Make your home available to show up on a potential buyer’s plan. Your schedule is not important to buyers. Accommodate them.
7. Have your agent prepare a “Financing Options” sheet for you to give to people viewing your home.
8. Prepare a table of expenses that you have every month and year. Things like taxes, monthly electricity, water/sewer, association fees, etc. Whatever you have to pay, they will have to pay and they will want to know. Add any transfer fees associated with the sale.
9. Review the purchase agreement until you know it backwards and forwards. This will help you when you get an offer. It will allow you to get back to the buyer much faster.
10. When your home is to be shown, turn on all the lights and open all the curtains. The more light, the better. Increase the wattage of the light bulbs you use.
11. Cook cinnamon sticks or bake some cookies before the demonstration. Put that “grandma’s kitchen smell” in the house. Do not, I repeat, spray some fruity air freshener. This makes people think you’re covering up some smell you’re not telling them about.
12. If you smoke, try to air out the house before it shows. Hide all ashtrays, matches, lighters and smokes. Cooked cinnamon sticks or cookies will help.
13. Take your pet for a walk or a drive when the house shows up. Not everyone loves Fido or Kitty like you and I do. Put away their food bowls.
14. Trash cans must be placed outside and away from the stand during the exhibition.
15. If you have to be there when your house is shown, and I don’t suggest that, don’t try to sell your house. Let people walk alone. Don’t follow them around or hover. Let the agent do his job.
16. Prepare a list of recent improvements you have made to your home, listing any warranties that are still in effect. Buy a 1 or 2 year home warranty and include it in the price. These are around $400-500 per year.
17. Kitchen counters should be cleared so you can show how much counter space there is.
18. Timing is critical when listing your home. Have all your repairs done and your home on the market in time to take advantage of the shopping season in your area.
19. Get a market analysis done so you know how many homes like yours are on the market and what the SALE PRICE of recent homes like yours have been. Do your homework before pricing and listing your home. Half the battle in selling your home is getting it right on the market. Overpriced houses sit. The key is what homes like yours SOLD for, not what homes like yours are listed for. Don’t fall into the “I’ll list high and people can always offer me” trap. Not only will people NOT make you an offer, they won’t come look at your house and unshown houses won’t sell.
20. Cleanliness is next to godliness. Make sure your home is always clean, every room, porch and garage before showing.
21. Obtain a copy of the Home Disclosure Report, fill it out and have it available to potential buyers.
22. DON’T GO AHEAD OF YOUR APPOINTMENT! Make sure the lock box is out, the door is open, or you are there. They will probably keep you waiting, but don’t you dare keep them waiting.
23. Review #15.
24. Ladies, DO NOT SHOW YOUR HOME ALONE, ESPECIALLY AT NIGHT. NEVER BREAK THIS RULE!
25. Take every opportunity to let people know your house is for sale. Network, network, network.
26. List your home with an experienced, full-time agent who has the resources of a large firm with a proven track record of getting results in your community. Choose an agent who does it to support their family. Agents who support their families are motivated to achieve your results by the strongest motivation in the world, which is taking care of their family.
27. Lifting the curtain. Make your home the best. Moving a piece of furniture from one wall to another can make a world of difference in the way a room looks. Flowers, paint etc. There are people who help with this for very reasonable fees. This is called Staging and it is worth the money.
28. Buyers are looking for a home to move into. They don’t want to inherit your problems. Therefore, you need to fix it, paint it, clean it, etc. before the buyers come through. This also helps to justify the price in the mind of buyers.
29. Here’s the real shocker. For the most part, real estate agents are lazy. They don’t want to show property that is hard to get to, doesn’t show well, or is overpriced. They are in this business to make money. They show homes where they get paid full commission. Especially in times like this. In boom times like 05/04 when stocks were thin, they would show anything. Not now. Do not reduce your commission in this market. It will only hurt you in the long run.
30. Deadlines. Have your attorney estimate your closing costs so you can figure out what your net worth will be. It may not be exact, but it will give you a good idea. This will really help when negotiating a deal.
31. Choosing the right company to represent you is essential. Look for a company that is a leader in your field. When you do this, you are assured that you have a company that focuses on your area. Anyone else is just hoping that someone from that leading company will sell it. The odds are against you if you buy it.
32. Open houses work, but not if you do it every week. Open days should be held in conjunction with other open days. The more houses open, the more people usually come. Reviews 10-15.
33. A buyer for your house is as close as next door and as far away as Europe. Marketing a home isn’t just a matter of placing ads in a magazine. In fact, very few buyers actually come from seeing your home in a magazine. New age marketing is more targeted and targeted. Make sure your agent does more than just run ads in newspapers and magazines.
34. Selling your home is your agent’s job. If you have chosen the right company and the right agent, listen to them. They are experts.
35. Remember that selling your home is a partnership between you and your agent. It requires effort on both sides.
36. The hardest part of this process for you as an owner will be understanding the market. Your agent will have no problem because they deal with it every day. The owner only sees how nice the home is, how much he has in it and how much he wants for it. You need to be realistic when listing your home. Numbers don’t lie, agents can, but numbers don’t. As cruel as it sounds, the market doesn’t care what you have in your home, how much you want or need to get out of it. The market is what it is. If you can successfully distract yourself from owning and look at selling your home as a “goal” and focus on achieving that goal, your home will sell faster.
37. Treat all offers with respect, no matter how offensive they may be. You don’t have to accept the offer, but keep the dialogue open. With all offers you don’t accept, ask your agent to say, and you’ll need to tell your agent to say this: “Thank you for the offer. My client cannot accept this offer, but would like to propose the following.” Again, focus on the goal and do the things that will achieve it.
Selling a home, especially in this market, takes work. Consider these 37 points a road map to achieving your goal of selling your home.
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