We want you to get the most out of your real estate transaction.
If you would like a market analysis of your property, please call me. I will do a comparison of your property with prices of homes that have recently sold in your neighborhood, and show you currently active homes for sale so you will know your competition. Call me at 249-4725 to schedule a time to go over this information.
How to get Your Home Ready for the Market
First Impressions Are Lasting
The exterior of your home often determines how buyers will see the inside, so:
- Make sure your front entrance and walkways are clean, inviting, and free of trash.
- Paint or replace your front door if it's faded or worn.
- Add some paint to shutters, trim and any other outside features showing signs of wear.
Beauty is More Than Skin Deep
Buyers often see the surface condition of your home as a sign of what's underneath, so:
- Keep windows and floors clean.
- Replace faded wallpaper and glue any areas that have come away from the wall.
- Repair worn woodwork.
- Repaint scarred or dirty walls in a neutral color.
- Steam clean carpeting or replace it if necessary.
- Repair loose knobs, dripping faucets, sticking doors and windows, warped cabinet drawers, broken light switches and other minor flaws.
- Check and repair caulking in bathtubs and showers.
- Make sure bathroom surfaces are free of mildew and soap film.
Accentuate the Positive
Try to look at your house "through the buyer's eyes" as though you've never seen it or been there before. Try to see your home with a fresh perspective and arrange each room to bring out its best attributes, including:
- Open drapes and curtains to let the light in during the showings..
- Remove all unnecessary clutter to better display spacious rooms (consider storage or a garage sale to dispose of extraneous items).
- Arrange all your rooms neatly and remove excess furniture.
- Organize closets to make the space appear more functional.
- Keep fresh, clean towels in the bathroom.
- Use candles or air fresheners to make the room smell pleasant.
- Keep trash cans empty.
- It is important that all pets (no matter how wonderful they are) not be present during a showing.
- Be creative and arrange lamps to highlight certain areas of your home.
- During showings, turn on all lights.
- Make sure beds are made and clothing, laundry, dishes, papers, toys, etc. are put away.
- Make sure family and pets are away for showings to avoid distractions that might cause buyers to rush through the house.
- Soft music can create a comfortable atmosphere, but shouldn't interfere with conversations.
Setting the List Price
Pricing your home is both an art and a science. Achieving the optimal price is the result both of objective research into comparable properties and a gut feeling about your property and the current market. The right price should:
- Attract buyers
- Allow you to earn the most money possible
- Help you sell as quickly as possible
The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. And it's important to remember that, although the price is set by you, the value of the home is determined by the buyer. Try to avoid allowing your enthusiasm to impact your better judgment - overpricing is a common mistake that can cost you in the end.
The Importance of Proper Pricing
- Faster sale and less inconvenience
- Exposure to more buyers
- Increased realtor response
- More advertising/sign calls
- Attracts higher offers
- Means more money to seller
- Avoids being "shopworn"
What really matters is how your home stacks up against the others currently offered for sale and recently sold in your neighborhood. Buyers will be comparing.
Common Reasons for Overpricing
- Over-improvement for the area
- Need the money
- Purchasing in higher priced area
- Original purchase price too high
- Lack factual data
- Leave room for bargaining
- Don't really have to move
- Going by assessed value
- Emotional attachment
- Opinion of family and neighbors
Dangers of Overpricing
- Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating immediate urgency in the minds of agents and buyers is critical.
- Buyers who have seen most available homes in their price range are waiting for the "right house" to come on the market. That's why when a house is priced right, it will sell quickly. The buyers are there waiting for it.
- Don't start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be too late, as interest will have already waned.
- A major cause for concern is appraisal problems; overpricing can lead to loan rejections and lost time.
- Even if your home is nicer than other homes in the same area, your house won't be picked for viewing if you set the price too high.
- Buyers and agents become aware of the long exposure period and often are hesitant to make an offer because they fear something is wrong with the property.
- Attracting the wrong buyers.
- Fewer potentially qualified buyers will respond.
- You might help sell similar homes that are priced low.
- You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.
The Role of a Real Estate Agent in Pricing
- Provides you with a comparative market analysis (CMA), a comparison of the prices of recently sold homes that are similar in terms of location, style, and amenities. A CMA is performed by comparing previously sold homes in the area, and currently active homes for sale to know your competition.
- There is no "exact price" for real estate
- I don't tell you what I think your home is "worth"
- The market determines value…together we determine the price
- You determine the price based on the factors you control:
- Marketing time
- Financing alternatives provided
- Exposure method
- We keep in touch with market trends and keep up to date with market activity of comparable homes
- Estimate your net proceeds
- Help to determine offering incentives
An agent has NO control over the market, only the marketing plan. Never select an agent based on price.