Feb 20, 2014 | Home Selling Tips
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.
Feb 11, 2014 | Home Selling Tips
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.
Feb 6, 2014 | Home Selling Tips
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.
Jan 16, 2014 | Home Selling Tips
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.
Determined Seller
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.
Jan 12, 2014 | Home Selling Tips
Anyone preparing their home for sale can get focused on all the little updates they need to make before it’s ready to be put on the market. However, once the property is listed, they usually just sit back and wait for the offers to roll in — which can be disappointing.
For A Fast Sale
Real estate agents know that the work never stops. Below are insightful tips from property experts to create buzz around your house and get it sold quickly!
Bait Buyers With Visuals
Most buyers do their preliminary searches online, so this will be their first impression of your place. Hire a professional photographer if your photography skills are lacking. Or, take it one step further and have a virtual tour video made — the extra effort might clench the deal.
Create An Online Social Life
Just posting your home online might not be enough to attract buyers. However, if you give it a persona on Facebook or tweet about its beautifully refinished hardwood floors, you’ll reach more potential buyers and establish an emotional connection before they ever set foot inside.
Be Flexible
If the market isn’t cooperating with your current strategy, then be prepared to change it. This could mean dropping the price, hosting impromptu open houses or even taking the property off the market for a couple of months. Be sure to stay abreast of local selling trends by speaking with real estate agents and tracking area comparable.
Spread It Through Word Of Mouth
Enlist the help of all your friends and family to help spread the word. Put flyers out front and pass them around to all of your neighbors — they might want their friends to move in down the street. Also, let local real estate agents know your house is available.
To get your home sold quickly, take the advice above from successful professionals who know that no effort is too small when it comes to the real estate game. If you’re getting ready to put your house on the market and would like more selling strategies, please call your trusted real estate professional.
Jan 9, 2014 | Home Selling Tips
When you sell your home, you want it look as good as possible. To do this, your real estate agent will help you stage your home or, if needed, help you find a professional to stage your home.
This means de-cluttering your home, re-arranging furniture, and de-personalizing each room.
A staged home is more appealing to buyers and helps to highlight your home’s positive features. However, staging is not meant to cover major flaws in your home. Some things just have to be repaired.
Roof Problems
It doesn’t matter how pretty your home is, your buyer is going to expect you to fix roof problems or adjust your price to cover them. Your roof is one of the most important parts of your home.
Cracked Tile
Of course, you can use throw rugs to cover cracks in your tile, but chances are your buyers are going to look under them. Then they may think you are trying to hide a serious problem like a shifting foundation. Save yourself the headache and have your floors fixed.
Broken Windows
You have to expect your buyers to walk around your home checking out the views from the windows. They’re going to notice any cracks. If you have the budget, consider upgrading your windows and making your home more marketable. At the very least, you should have the glass replaced.
Torn Screens
If you have torn screens, your buyers may think you don’t take care of your property. Yet, screens are fairly easy to fix on your own. With the right supplies from your local hardware store, you can have new, sleek screens in less than a day.
As your agent, I will make sure your home is ready to sell fast. Call your trusted real estate professional today.
