How to Successfully Sell Your Home
Do you want to
know the importance of pricing your home right the first time? How can the home's
price, terms, conditions, and marketing make the difference in selling YOUR
home? What should a professional do to help market and sell your home? Read
this report to learn the answers!
Making the decision
to sell your home is an important decision. Once you have made that decision,
you want your home to sell in the shortest time, at the best price, and without
hassles or problems. You may have asked yourself, What can I do to help
facilitate this process?
One of the most important
things for you and your real estate professional to do is to look at your
home through the eyes of the buyer. And remember, those eyes
may change from week to week depending upon the availability of other properties.
Once you have done this, you and your real estate professional need to market
your home so that buyers see and feel the benefits and value in ownership of
So what is it that
a buyer will want? First of all, all home buyers comparison shop for value.
They judge price and condition against the features and
benefits offered by each of the homes they are considering. Some homes
may be easily eliminated because of poor condition or overpricing. After the
two or three homes with the highest value are identified, the final selection
is usually based on pure emotion.
- Be aware of
your competition. Before you even list your home for sale, your real estate
professional should provide you with a summary of other properties that have
recently sold, are under contract, and/or are currently listed. An effective
Realtor will be able to tell you how your home compares to the competition.
In other words, your home might be priced higher than other homes because
of the location, the size, the condition of the property, or features you
have in your home that are not present in others. On the other hand, your
home might need to be priced lower than other homes because of these very
- Assess the condition
of your home. When buyers look at several homes, the condition of each
home plays a significant role in their decision to consider it further. Therefore,
you and your real estate professional should honestly evaluate the condition
of your home. What can you do to improve the curb appeal and first impressions?
Repainting the home, making sure the lawn is well maintained, cleaning the
carpets, removing any pets from the home when it is being shown, eliminating
any unnecessary furniture, making sure that basements and garages are not
cluttered...these are only a few of the things you can do to improve the appeal
of the home. Remember...the first impressions are the most important. Most
buyers decide to buy in the first 5 minutes they are in a home...then they
spend the rest of the time justifying their decision. Many times, you
will not have a second chance to appeal to a buyer. The more concerns a buyer
has with the condition of your home, the less appealing it becomes, especially
if there is another home that is comparably priced that they are considering.
Once you have assessed the condition of your home, it is important that you
make any repairs or improvements BEFORE you place it on the market!
The first impression for another real estate agent is just as critical
as it is for potential buyers. Once an agent has shown a property that
is in need of repair, it can be much more difficult to get them to bring back
another buyer to that home.
- Set the right
price the FIRST time. If you price your home right from the onset, you
will minimize the chances of a buyer not selecting your home simply because
of price. The price that you and your real estate professional have established
often affects both the final sale price and the time that your property will
be on market. If it is fairly priced and you know there are features that
will appeal to a buyer, it is easier to get them into the home and see for
themselves why this is such a great value and why they should select it for
their next home.
One question to ask a real estate professional when you are interviewing them
to sell your home is to share their list to sales price ratio and their
average days on market. The lower these numbers are, the better it is for
you...it means that your real estate professional truly understands the market,
and that your goal of selling your home in the fastest time at the best price
is accomplished! The last thing you want is an agent who suggests you
list a home at a price that does not compete with the current market. The
higher the price, the longer the home will be on the market, the less appealing
it will become to agents and buyers, and the more frustrated you will become.
So when a real estate agent says they can sell your home for a certain price,
you may want to ask them to prove it!
- What happens
after I sign the listing agreement? Another question to ask real estate
professionals you are considering is, What will happen after I sign the listing
agreement? If the response is something similar to placing a sign in the
yard and an ad in the paper, you may want to reconsider.
Research shows that, very few individuals actually buy property from advertisements
in the newspaper. Therefore, you need a real estate professional who knows
how to reach potential buyers.
For us that includes using the Internet, a strategic plan for marketing to
other real estate agents who might have a buyer for your home, targeted mailings
to potential buyers, using all forms of the media, property flyers for buyers
who visit your home, referral network throughout North America, weekly staff
meetings to review the status and generate new ideas to find a buyer, monthly
mailing to over 6,000 individuals who might be or might know of someone interested
in purchasing your home.
- Make your home
easy to show. Many sellers list their homes and then make it very difficult
for agents to show it to prospective buyers. Although there are times when
an agent has the luxury of 24 to 48 hours to set up a showing, many times
they have an impromptu buyer who wants to look now. The more accommodating
you can be, the more chances you have of finding the right buyer. So what
should you do? Always keep your home spotless so that it can be easily shown.
Make sure the windows are clean, lights are on, lots of light comes into the
home, the dishes are done, the closets are clean, that the home smells like
a home (perhaps a pie in the oven, baked bread, or potpourri). And
then, LEAVE THE HOME. Buyers many times want to really look through
a home. Having the seller in the house may be too intimidating, causing them
to go onto another home they are considering. If showings are being set
up through your real estate agent, ask them how accessible they are
so that agents are able to show the house at virtually any time. If all
they get is an answering machine and no return phone calls over the weekend,
the best buyer may have been missed!
- So tell me what's
going on. One of the most common complaints sellers have is that their
real estate agent never communicates with them. They don't know if the
house has been shown, whether there has been any interest, or whether or not
there are changes in the market that are causing the home not to sell. Again,
this is the responsibility of your real estate professional. An effective
agent will send you periodic updates on the market as well as showing
activity, speak directly with you on a regular basis regarding activities
that are occurring to find the right buyer, and most importantly, be honest
with you. If market conditions change, you want someone who will be
honest with you and let you know why your home is not being shown or selling.
Homes do not sell
by accident. The sale of your home will be the direct result of a carefully
planned, effectively executed marketing program that is custom tailored to your
home - a plan that addresses each of the areas presented in this report. What
works for a home in one area may or may not work in another. You made an important
decision when you decided to sell your home...you deserve to work with professionals
who know what your goal is and want to help you achieve it.
As you make this very
important decision, we encourage you to ask your real estate professional lots
of questions about how they are going to design a marketing plan that is custom
tailored to your home - and what they are going to do to help you accomplish
your goal... to sell your home in the fastest time, at the best
price, and with no hassles!