Home Selling Tips Category
Most people don’t know enough to sell their own house. Here’s why.
1. They Can’t List It!
– Only licensed brokers and agents can create a listing in the MLS sale-by-owner houses will be invisible to agents and unavailable on the Web.
2. Agents Won’t Show It.
– Typically, a buyer’s agent gets part of the commission paid to the seller’s agent. Sale-by-owner houses don’t have that commission commitment so a buyer’s agent might not get paid. No agents makes the pool of buyers MUCH smaller.
3. It’s Probably Overpriced.
– Most homeowners don’t have enough data and emotional distance to put a market price on their own home. and overpricing is another deterrent to potential buyers.
4. Buyers Prefer Neutrality
– Buyers will spend less time in the home and be less likely to make an offer because owners aren’t neutral about the transaction.
5. Legalities & Complexities.
-Real estate transactions are complicated. Most homeowners don’t know enough to avoid potentially expensive liabilities Overlooking a form or required disclosure exposes the seller to lawsuits AFTER the transaction is closed.
There are some sellers with a real estate background that do have enough experience to sell their own home but in most cases you probably shouldn’t try selling your own home.
There’s at least one good thing about the drop in the dollar and it’s boosting the real estate market. Many high-end Europeans are now looking toward the U.S. for a vacation home or permanent residence, and that could mean big hope for your home for sale. However, this also means a different way of selling.
Stage A Benefit
No open house for high-end buyers. Host an event instead – maybe even a benefit dinner for a worthy charity. Let people come and view the property, but give them an avenue to mix and mingle as well. In addition, they get to see how the house handles a bunch of guests.
Showcase A Chef
If you have a gourmet kitchen (or two), check with chefs that would like to showcase their cooking abilities. This creates an entire “house-buying” experience for your guests. Again, they see what the featured kitchen can handle as well as being able to enjoy the culinary arts of a professional chef.
Host A Private Tour
If your home has beautiful gardens and a large landscape, add a private concert or tour of the gardens. A wine cellar and large sitting rooms can turn the event into a stylish wine tasting event.
The biggest trick in attracting high-end buyers is showing off the house’s best features. If the event is hosted at night, you can show how attractive the home is with an overall “candlelight” appearance. You might even go so far as to set the time for when the sky is at it’s best and frames the home just right.
First impressions are everything, so pull out all the stops. Don’t let any great feature go undiscovered, from indoor swimming pools to music rooms and manly dens. Let your home shine!
Just when you think you’ve done everything you need to do to get your home ready for the market, months pass and your home doesn’t sell. Consider a few factors that can effect your goal of selling your home.
Priced Too High – If your home has an excessive asking price, it will be harder to sell. With so many homes available today, a big price tag may turn buyers off.
And, your competition down the street may have the same home but a better price.
The Market – No longer can you simply put a home on the market and watch the offers roll in. Nowadays, you have to be diligent and knowledgeable in your approach.
Research the market value of homes in your neighborhood and know what kind of competition you’re up against. And, understand today’s buyers and what they need in order to make a good offer on a home.
Unfavorable Location – No matter how gorgeous a home is a bad location can hurt sales. Although you can’t change the location, you can be creative in figuring out ways to appeal to buyers. Offer incentives to attract buyers or lower your asking price.
The Appearance – Does your home need some work? If so, you want to attack those issues first before putting your home on the market.
Things like dirty carpets and broken appliances can turn buyers off. Try staging your home. This will help to ensure your home dazzles potential buyers.
You Didn’t Consult A Professional – Trying to sell a home yourself can be an extremely daunting task. That’s why you need a real estate professional who knows the ins and outs of the industry and can market your home in the right way.
The good thing is that you can make changes that will improve the situation. Go over all the points listed and address any problems. Once that’s done, you’ll have a better chance of watching your home sell.
Many home owners putting up their home for sale on the market don’t have a lot of available cash to spruce it up. While staging houses is a definite plus, it can cost a fair amount of money, as do many of the other suggested “to-dos.” Here are a few inexpensive and easy ways to make your home look more inviting to buyers.
Put Up Your Personal Stuff
Not every buyer looking at a home for sale appreciates the fact that someone still lives there. Putting away the your personal things can help the buyers’ see themselves in the home.
You will want to put your pet’s things (toys, litter box, bowls) away and out of sight. The same goes for your medications, toothbrushes and toilet accessories.
Clean up your kids’ rooms and put away any toys around the house. Minimize or put away knick-knacks and personal pictures. Remember that you want the buyer to imagine themselves in the home.
Create More Space
Small, closed-in spaces are major turnoffs for buyers. Create the illusion of more space by putting up out-of-season clothes or clothes you don’t wear very often to make your closets look bigger. A good way to make your bedrooms look bigger is by taking one piece of furniture out of each bedroom.
Packing up the small appliances in your kitchen is a great way to make your countertops seem larger. You can also take out all but four chairs in your dining room, as well as extra table leaves to give that illusion of space.
Touch On The Trends
Chances are that some of the buyers are paying attention to celebrity trends. Feng shui is a big one, and you can do your part with just a few touches like adding a fresh bowl of fruit to the kitchen. Put a comfortable couch or chair on the east side of your living room or den. Place a green welcome mat on your porch to symbolize opportunity. Go through your house and get rid of reds.
Whether you see or feel a difference doesn’t matter. Keep in mind that you’re trying to appeal to potential buyers of your home, not make the home more livable for you. If it helps, pretend that you’re the buyer, seeing the house for the first time.
If you’re trying to get your home ready to sell, I can help. Get in touch with me for more information.
Selling your home is a complex process and there are a lot of factors that you will need to consider. Your goal will be to sell your home in a timely manner, while getting the highest price you can.
However, many properties sell at a discount because the buyer is able to negotiate a lower price on the property.
Although it is impossible to guarantee that you will receive your full asking price when you sell your home, there are things that you can do to increase the likelihood of this happening. You will need to have a strategy that attracts highly motivated buyers and improves competition.
Here Are Some Tips To Keep In Mind That Will Help You To Get The Full Asking Price When You Are Selling Your Home:
- First of all, make sure that you have a reasonable asking price to start with. Research your local real estate market and find out what other buyers paid for homes comparable to yours.
- Hire a home inspector to perform a full inspection of your home, so that you can fix any problems. If you can show the buyer the repair receipts and inspection report, you will be in a better position to ask for full price.
- First impressions are very important and can improve a buyer’s perception of your home’s value. Make sure that your property has plenty of curb appeal and feels welcoming.
- De-clutter and clean your home – this makes it appear more spacious and luxurious and will make a buyer willing to pay more.
- Ask your real estate agent to create a flyer that compares your home’s price to other similar listings in the area – showing that your home is a great deal. This will convince buyers that your asking price is already discounted.
- Schedule your property tours as close together as possible. This can mean that you get multiple offers at around the same time, which will encourage the buyer who is eager to seal the deal to pay full price.
- If you have any rooms with bright colours that might not appeal to the average buyer, give them a quick makeover with neutral tones. These are safe colours that will increase the odds that your home will sell.
- If you have the budget to renovate one of the rooms in your home, it should be the kitchen or the bathroom. Studies have shown that renovations and upgrades in those two rooms have the most impact on the potential selling price of the home.
With these tips, you should be more likely to achieve the full asking price when you are selling your home. For more tips, contact your trusted real estate professional.
Let’s face it, selling your home can be an emotionally difficult process – especially if you have lived there for a long time. When you make a house your home, it holds many of your memories and it becomes a part of your identity.
How can you sell the house in which your child took their first steps, where you held many dinner parties and where your family celebrated so many birthdays and holidays together?
You will go through a period of transition when moving house, which can be mentally and emotionally tiring.
It might be hard to sell your home, but time marches on and eventually it is time to move to a different location or simply downsize or up-size to suit your changing family situation.
The problem with being too emotionally attached to your home is that it makes it difficult to sell. When you have a sentimental attachment to your home you will estimate its value as higher than it really is and you will have trouble accepting counter offers.
Which could mean that your home is on the market for a long time when it could possibly have been sold for a reasonable price.
Here are some tips for emotionally detaching from your home so that it is easier to sell:
Remove Your Personal Items
Taking any of your personal items out of the house will make it a lot easier to sell, because the buyer will be able to imagine a blank slate filled with their items instead. Also, it will make the process easier on you if you can remove your family photos, keepsakes and personal items – because it will make the house feel less like yours.
Think About Your New Home
Whether or not you have already bought your next property, it’s time to start thinking about it as your new home. It will take some time, but you can transfer that emotional connection to the new place where you will live.
Start to focus on all of the things that you are looking forward to about living in your new home.
Preserve A Record Of Your Old Home
Take photos and even make a video tour of your old home before you move – so that you can always remember where you used to live.
Get An Outside Opinion
Ask your real estate agent or a professional home stager to take a look at your home with unbiased eyes to let you know what you should change to help it sell faster.
They might tell you to eliminate the jungle wallpaper in your son’s bedroom that you love – but they are probably correct in a way that you can’t see because your emotions cloud your judgement.
With these tips, you should be able to emotionally detach from your old home, so that it is easier to sell. For more information contact your real estate professional.
Oh, the dreaded/happy DOM question: “How long has this house been up for sale?” If it’s your home for sale we’re talking about, you’re probably wondering about the split “dreaded/happy” bit. For that matter, whether you’re a buyer or a seller, you’re probably asking, “what the heck is ‘DOM’?”
Days On Market
“DOM” is the shortened industry term for Days On Market, used by the multiple listing services. It’s exactly what it sounds like: the number of days your home for sale has been on the market. This metric covers the time it actually goes on sale to the time the deal is closed.
Why Is DOM Important?
Remember the “dreaded/happy” part at the beginning of this article? As a buyer’s agent, I might gleefully answer, “Fifty days.” I say “gleefully,” because a house that has sat on the market for a long time is a good thing for my client.
The seller is probably more eager to sell than a month before, and is most likely willing to work a deal. An eager seller makes a happy buyer in most cases.
On the other hand, as a seller’s agent, I might not be so happy about it, and for the same reason. My seller is now an eager seller. I want to get the best deal for my client, but I know the buyer has the upper hand. It is then up to me to help my client get the home sold without giving away the barn, the pool, the tool shed and the tools.
Already, you may be beginning to understand how the DOM metric can affect the sale of your home.
The problem with the DOM metric is that it causes buyers and agents to build false assumptions. If a home has been on the market for an above-average length of time, we start to wonder, “what’s the matter with that listing?” Even though I know there are other reasons for a home to go static and not sell, many people automatically think there’s something wrong.
Reasons For An Extended DOM Metric:
- The Home May Be Overpriced – Nothing is wrong with the property itself; it’s just priced too high.
- Testing The Market – Although it’s a big mistake and agents will tell you so, some sellers test the market by throwing a high price on a home they don’t care if they sell – just to see if somebody is foolish enough to take it.
- Sticking To Your Guns – Often, sellers get fixed on a price and won’t budge, come hell or high water. They figure they can wait around until the market can meet their price, not the other way around.
- Renovations – Sometimes, a home will go on the market in the middle of renovations. The sellers aren’t ready to let the home be seen, so it just sits there.
- Availability – A growing problem is the lack of access to a home for sale. Sadly, agents and FSBOs alike seem to be unavailable when a buyer wants to view the home. Obviously, no viewing means no sale.
Don’t let your DOM get high because of simple mistakes. If you’re serious about selling your home, remember the five reasons above and make sure you aren’t doing them.
If you’re ready to sell your home with a professional who understands how to keep the DOM to a minimum, contact your real estate professional today.
Have you made it your New Year’s resolution to find that perfect home for you and your family? You might have thought that you needed to wait until spring to start house shopping, but the fact is that January is a great time to begin.
Put on your winter jacket and get out there while the leftovers from the New Year’s party are still in the fridge – you’ll have the upper hand.
House hunting in January offers a number of advantages that will work in your favor. Here are some of the main reasons:
Busy Social Calendars
First of all, most other people will be busy with parties, holidays and getting back to work after Christmas and they won’t want to venture out in the cold weather to go look at houses – so there will be less competition when bidding on homes.
This means that you can get in there and put in an offer that the seller can’t refuse.
Also, if the home is on the market at this time of year, there is a chance that the home sale is somewhat urgent.
If they were not as determined, they might pull their home out of the market and wait until spring to try again. With a motivated seller you are more likely to get a better price.
A Dedicated Real Estate Agent
Your real estate agent will have more time on their hands at this time of the year, because they will be less busy. This means that they will be able to dedicate more attention to you and help you move through the closing and moving process faster.
Cheap Deals On Furniture
Also, during the month of January, retailers will sell off their excess inventory from over Christmas in order to make room for the new models. This means that when you move into your new home you will be able to furnish it at a great discount.
These are just a few of the reasons why you might want to consider getting out this January and searching for your new home. House hunting during this time of year can offer you a number of advantages and you could possibly find that dream home you have been looking for at a great price.
For more helpful tips, contact your trusted real estate professional.
After all of the excitement of the holidays, the sparkle of the lights and the overstimulation of decorations, the rest of winter can seem lackluster. Don’t let your home add to the dreariness of the season.
Spruce up your curb appeal with the tips below and inspire your neighbors to create well-groomed street that will make driver’s passing through smile.
Tend The Plants
If you’re currently located in a winter wonderland, then dig up any dead plants that won’t grow back. Replace them with cold-loving flowers, such as snowberry or lambs ear.
In warmer climates, this is the time for any landscaping changes you’d like to make. It will give your plants a chance to flourish by spring and have solid roots before the harsh heat of summer.
Light The Way
With daylight hours dwindling, well-placed outdoor lighting will help highlight your home’s best features in the evening.
Not only do they make your home look warm and cozy, but they also provide much-needed walkway lighting so that your guests arrive safely.
For a festive New Year’s sparkle, wrap white lights around the porch and in the trees.
Create A Custom Mailbox
Reclaim a vintage mailbox or get creative with paint to let the neighborhood know your family’s favorite sports team. A personalized letterbox says a lot about your household, so make it something special that doesn’t look like every other box on the street.
Also, visitors trying to find your home always appreciate large, easy-to-read address numbers visible from both directions.
Place Pots Strategically
Create focal points with terra cotta or colorful pots. Place them around your door to make a cozy entrance. Use evergreens and holly to give the curb appeal of your home a wintry feeling or brighten up a dark doorstep with cheerful pansies.
Paint Your Front Door
Perk up your curb appeal when the weather is dreary by painting your front door in a color that packs a punch. Try a vibrant red, bright blue or sage green. These colors will make your home feel warm and cheerful. However, don’t apply paint if the weather is below 40 degrees, because it will dry brittle and crack.