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Summer Sale Tips:
Home Selling: Selling in
a buyer's market, with an oversupply of homes and/or falling home values, does
not occur often, but certainly presents challenges. The top nine tips listed
here should help you and most tips are applicable in any home selling
environment. The final net sales proceeds may not be what you wish for or need
or what a neighbor received 2-3 years ago, but, will most likely be what the
market dictates now.
- Prepare Yourself for Market Conditions - the
"market" sets the final sales price and terms. Prepare yourself
mentally for fewer probable showings and a longer "time on
market" and possible future price reductions. Also, if you can, put
your home on the market in the spring. I've seen some sellers drag their
feet during the summer and put their home on the market just as summer
ends.
- Make a Good First Impression - It starts
outside... I've had many buyers say "NO" just when we pull in
front of a home if it is not neat. That first few seconds in front of a
home can make or break a possible sale. Typically, the good indicator is
that if the home is not neat outside, it's probably not neat inside. Mow
the grass, get rid of weeds, rake the leaves, plant or exhibit colorful
flowers or shrubs, trim back excessive or low hanging limbs and branches
on trees that block the home, trim shrubbery down and away from the home,
trim or cut limbs hanging against the home or roof, clean the front door,
clean or paint railings on the front porch, replace the worn out welcome
mat, put away the bikes and children's toys, clean gutters, clean the
walkway for a clear path to your door!. Okay, now you have done the front
yard, check out your backyard and give it the same attention.
- Prepare Your Home for Showing - CLEAN the
inside, paint where necessary, clean windows, apply or have applied a pest
control treatment if necessary, eliminate odors, clean or replace air
filters, clean the air filter returns, clean the dust off ceiling fans
(they do get yucky), really clean the kitchen and bathrooms, organize,
remove clutter, straighten up or put away children's toys, clean and
organize the garage, make your home look like Mr. & Mrs. Clean live
there!
- Hire an inspector - Very few sellers do it,
but, a home pre-inspection may be of great assistance to you in
determining what's wrong and what needs to be repaired in your home. You
may not have been under your home or in your attic in a long time (or
ever). Things change and things happen. These items WILL be found when the
Buyer does a home inspection or termite or HVAC inspection. If your home
has some age, you may want to do this before you put your home on the
market to eliminate these concerns from the start. You can take care of
major items at the start rather than in a time crunch running up to
closing. You can also provide the home inspection report and any
associated repair invoices to show that issues have been found and taken
care of as a selling bonus. Consider doing a home inspection, HVAC
inspection and termite inspection.
- Make repairs - Make repairs that are
profitable or will be necessary for the sale of your home. Oftentimes, I
see rotten wood on the outside of a home or water damaged ceilings for
example. A home inspection will most likely require that these be repaired
anyway, so do it now. Be sure to make NICE and professional repairs. I've
seen some repair jobs that look they needed repair. Replace cracked floor
or counter tiles, patch holes in walls, fix leaky faucets, fix doors that
don't close properly, consider painting your walls neutral colors
(especially if you have grown accustomed to purple or pink walls), replace
burned-out light bulbs.
- Special touches inside the home - If you
smoke inside your home, stop now. Most folks will stop at the door if they
smell smoking odors inside a home. Add seasonal touches or flowers. Give
your home a nice aroma with freshly baked apple pie, chocolate
chip cookies or a faint pine scent. But don’t overdo it, as buyers might
wonder what you’re trying to cover up. Turn on some classical music or
soft jazz at LOW volume. If you know home buying prospects are due to
arrive (or may arrive) for a showing, be sure to turn on some
lighting and open blinds especially in the fall and winter.
- Set a Competitive Price - Your home is in a
competition... to SELL! Set your price competitively. If your home isn't
moving, check the price first—too high, and potential buyers may not
even consider it. It's best not to waste time on the market, so set your
home price right from the beginning. Rely on an experienced Realtor to
provide you with a written market analysis package. This market analysis
may include current active listings and recent closed sales that are
similar to your home. The best and most important "comps" are
recent closed sales.
- Offer a Home Warranty - I typically negotiate
for a Buyer to get a home warranty paid for by the Seller and typically
this negotiation strategy works. Offer a home warranty from the start and
get an extra marketing advantage. A home warranty gives buyers additional
confidence in a real estate transaction—they know that a good warranty
stands behind the covered systems or appliances in the house. If they
break down, buyers are covered for repair or replacement. An added benefit to the seller is
that buyers will be calling the home warranty company with their
problems—not you. Also, the Seller typically has some degree of coverage
during the listing period at no additional cost. Homes with a warranty are
more attractive to buyers.
- Be Flexible and patient - Follow the
suggestions of your Realtor related to showings. Try to always accommodate
showings of Realtors and sales agents. Use showing feedback from your
sales agent to improve or make changes during the process of marketing
your home for sale. If the home is not getting sufficient showings after a
reasonable period of time and with adequate marketing, review comps again
and consider a price reduction.
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