10 THINGS YOU MUST KNOW WHEN SELLING
1. PRICE YOUR HOME RIGHT
In a buyer’s market, to successfully sell your home, you must price your home competitively based upon its competition. In other words, you can get an idea of what your home is worth from an appraisal or a CMA(pending and sold comparables in your neighborhood). However, to actually sell your home, you must be at the top of the competition in your price range. If you or your realtor do not abide by this rule, then you will have a difficult time selling your home.
2. MAKE YOUR HOME SHOW LIKE IT NEVER HAS BEFORE
If you are planning to show your home in its present condition, then you are more likely presenting it wrong. It is hard to make the interior of your home look like a new construction model home, but you should make every attempt to have it resemble one. Clean your home like you never have before. Once you have done that, immediately clean it again. It is so important to have an extremely clean home. Try and exclude all clutter in your house. Depersonalize and neutralize your home to tend to all buyers, including putting away a lot of the personal items lying around.
3. PAY THE CORRECT COMMISSION
In a buyer’s market, the last thing you want to do is start cutting the realtor commissions or using a discount realtor. This is one of the main reasons a home gets less showings or no showings. Once that happens, you will probably be dropping your price drastically to get a showing. You will lose more money than if you just paid the correct commission. There are enough homes on the market in your price range that realtors tend to only show homes that offer at least 4%. Please understand that this is one of the biggest mistakes homeowners make to try and save money.
4. PICK THE SILVANO GROUP MARKETING PLAN
Some of the most important qualities to look for is the reputation of a brokerage firm. Also, finding a successful agent with the best marketing plan within that brokerage firm should also be your main concern. This will ensure you the best chance of selling your home at the price you expect.
5. SHOWING YOUR HOME
Make sure your home is always clean and ready to show! Accept every opportunity to show your home no matter what the circumstances are. Make sure you leave your home at every showing to make the potential buyers more comfortable.
6. IF YOU HAVE PETS, SMOKE, OR ANY OTHER ODORS FOLLOW THESE STEPS
If your home has an odor because someone has smoked indoors, you must do everything to eliminate the smell. You may have to clean all the air ducts, spray and/or repaint the entire interior of your home, and possibly replace the carpet. Obviously it would be a good idea to not smoke in the house during the time your home is on the market. Most people who smoke themselves do not like to walk into a home and have that smell lingering around.
Most families have at least one pet. If you are one of these pet owners, you may be immune to the odors that are actually there. If you think “not your house” or “not your pet,” you are probably unaware. When selling your home, you must go out of your way to make sure the home is odor-free and smells clean and refreshing at all times. You must do everything you can to keep all of their necessities put away and, if at all possible, do not have any pets at the showings. All pet owners love their animals, but please remember that there are many buyers that are not pet owners and they may be allergic to cats or dogs. It is to your advantage to attract all potential buyers. Other odors may include dirty laundry, garbage, and cooking spices.
7. IMPROVE YOUR CURB APPEAL
Improve your landscaping as much as possible, including the front and back. Make sure the exterior of the home is clean and there is no debris on the property. Remember that the front of the home is usually the first picture a buyer may see when choosing what homes to view, so understand the importance of the first impression of your home.
8. UPDATE YOUR HOME
Some of the smallest changes make the biggest difference. These may include replacing the carpet, appliances, floors, countertops, sinks, hardware or repainting the interior or exterior. Find out what is the most popular at the time and always try to use neutral colors.
9. KNOW YOUR MARKET AND ADAPT / STAY INFORMED
At least once a month, you need to get an update on the real estate market. You need to know your competition, so get a report showing homes that are active in your area and in the same price range. Also, take a look at the homes that have gone pending over the past month. This way you will know which homes are selling instead of yours. If prices are falling, you need to know so you can adapt to your competition. This is one of the most important aspects and often overlooked by realtors and homeowners.
10. KNOW YOUR PAYOFF AND ESTIMATED NET SHEET
You should know approximately what you are going to make once you sell your home. Unwanted surprises and hidden costs that show up at the end of escrow can be devastating and may affect a potential purchase. Call the company who owns the loan on your home and make sure you do not have a prepayment penalty (ask your realtor if you are unfamiliar with this). Find out if there are any liens or unpaid child support on the home that must be paid through escrow. Always make sure your realtor provides you with an estimated net sheet that shows all the costs you incur when selling your home. Some of these costs consist of escrow fees, realtor fees, closing costs, roof cert estimate, termite inspection estimate, septic certification, home inspection repairs, home warranty, and so forth. If you get an offer on your home that is not your asking price, always get a new estimated net sheet that will reflect the new price.