Selling Your Home – Ten Things To Remember
Posted on Wednesday, January 25th, 2012
Not everybody understands real estate value and how it works when in the process of selling their homes. Truth be told, the estimated worth of your home (in your view) doesn’t matter. The value of your home, and any improvements you made, is determined by buyers. One person’s idea of a great home is enough for another person to say “next!” and move on to other options. Adapt a broad-minded point of view, and give the following tips more than token consideration.
Tips for House Sellers
Do your research. Have something ready for those prospective buyers, such as information on how much similar houses to yours have sold for.
Come up with a firm value for your minimum selling price and don’t move if someone offers below that minimum. If you encounter buyers happy to offer above that minimum value, transact with them, but don’t let your agent know about the minimum price.
Prioritize cleaning up whatever is most visible. That would mean replacing your mailbox, for instance. If buyers fall in love with the house before they even enter it, they’ll forgive a lot of problems.
Be proactive and make sure nearby houses are clean. The kids, especially – have your children or the neighbors’ kids clean up messy yards for something like about $5 or $10. You may want to collect $20 from neighbors to put flowers on shared areas to give potential buyers a great first look at your neighborhood.
If you or your agent aren’t getting many calls, find out why. Does your sales pitch need some work, or is the home overpriced, perhaps? If the price is the issue, then drop it ASAP.
Listen to what your potential buyers say. Don’t think of them as the second coming of Simon Cowell – they’re just being unbiased. So if they keep making side comments about your leaky bathtub, then call a plumber post-haste!
Find out what the average sales time is in your area. If your house is not fielding a lot of offers and not getting sold “on time”, find out what’s the reason why. Perhaps your price is not right?
Be sure to ask your real estate agent what they plan to do – before you sign a listing agreement. If you write down what they say, that can constitute as a binding contract.
Get a reliable quote for repairs if your home has any evident problems. You will have the last laugh on your buyers who demand extremely high allowances for repairs when you show them the repairman’s quote.
Work on adding value to your home by making improvements that could give you a two-fold return on the cost to make them. You want to increase your home’s value in ways such as sealing your driveway for $300 to get an additional $600 tacked on to your sales price. Consider first those things that are most visible.
These are just ten of the best ways you could sell your house faster and improve on its value. If you don’t have time to do them all, start with the ones that will get the most “bang for your buck.”
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