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Seller's Tips

Pricing a home

If you're planning on selling a house, you'll have to decide what price you're going to ask for the home. This is one of the most important and difficult decisions you'll have to make. Buyers select by comparison shopping, so your home will have to have a fair market price in order for it to sell. A real estate professional can help you determine the market value of your home while still obtaining the top-dollar price for your piece of property.

Some of the things to consider when choosing your home price are:

  • What is the age & condition of your home?
  • Does it need updating?
  • What have similar homes in your area sold for?
  • Have homes in your area been increasing or decreasing in value?
  • Are there a lot of homes for sale in your area?

Remember, your home is only worth what someone is willing to pay for it. By working with a qualified real estate professional, you can ensure that your property will receive the needed exposure to attract interested parties who are willing to make an offer.

Benefits of Proper Pricing

Faster sale
When your home sells faster, you save carrying costs, mortgage payments and other ownership costs. A quicker sale creates less inconvenience for you. If you've moved before, you know the energy it takes to prepare for showings: keeping the home clean, making child care arrangements and altering your lifestyle. Proper pricing reduces these demands on you, by helping your home sell faster. At market value your home will gain exposure to more prospects who can afford the price. Sellers who list at a high price are looking for that one buyer who will pay it. Sellers often do not realize that they have discouraged many potential buyers who could have afforded the home. The final sales price is probably one that will be affordable by more purchasers. This is because sellers many times accept a much lower price at a much later date since that one buyer willing to pay the higher price never comes.

Increased salesperson response
When salespeople are excited about a home and its price, they make special efforts to contact all of their potential buyers. Knowing that it is priced properly for its market, they expect it to sell soon and encourage their prospects to act quickly. Their excitement is contagious!

Better response from advertising and sign calls
Ad calls and sign calls to Realtors turn into showings when price is not a deterrent. Most serious prospects are well educated about asking prices in the areas they are seeking. They will not waste their time on a home they consider overpriced.

Higher offers attracted
Buyers fear they might lose out on a good home when it is priced right. They are less likely to make "low ball offers." Better pricing attracts multiple offers, too!

Means more money to sellers
If a home is priced right, the excitement of the market produces higher sale prices. You net more both in terms of actual sale price and in less carrying costs.

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Making Your Home Look Its Best

When you're selling your home you'll want to put forth the very best product.

Buyers aren't coming for just a quick look but for a careful inspection. Keep the exterior neat by painting the trim, clipping the hedges, mowing, edging, and weeding the lawn and you may even want to plant a few flowers.

Inside you'll want to lighten up the darker corners, perhaps add some fresh paint and put the clutter away to give the rooms an open feeling. Make sure there are no "stale" odors in the home. This can be especially important for remote areas such as a basement or attic. On the day of your open house, you may want to consider baking some cookies or bring in some fragrant fresh flowers. This will add a cheery and pleasant scent to your home. These little things just may help you sell your home a bit more quickly.

Make a Good First Impression

In today's age of consumerism, every buyer is comparative shopping. Make a small investment in time, money and effort to give your home a solid advantage over competing properties. Pay attention to detail now because first impressions count with buyers. You only have one chance and it starts with curb appeal.

Create A Buying Mood

  • Turn on lights
  • Turn on air conditioner/heater
  • Open the drapes
  • Light the fireplace
Exterior Appearance
  • Keep lawns cut
  • Trim hedges and shrubs
  • Weed and edge gardens
  • Clear driveway and clean up oil spills
  • Clean out garage
  • Touch up paint
  • Make repairs where needed
Create Space
  • Clear halls and stairs of clutter
  • Store surplus furniture
  • Clear kitchen counter and stove top
  • Clear closets of unnecessary clothing
  • Remove empty boxes and containers
Maintenance
  • Repair leaking taps and toilets
  • Clean furnace and filters
  • Tighten door knobs and latches
  • Repair cracked plaster
  • Touch up paint
  • Clean and repair windows
  • Repair seals around tubs and basins
  • Replace defective light bulbs
  • Oil squeaking doors
  • Repair squeaking floor boards
Squeaky Clean
  • Clean and freshen bathrooms
  • Clean fridge and stove (in and out)
  • Clean around heating vents
  • Clean washer and dryer
  • Clean carpets, drapes and window blinds
At The Front Door
  • Clean porch and foyer
  • Ensure door bell works
  • Repair screen on door
  • Fresh paint or varnish front door
  • Repair door locks and key access
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Marketing Your Home

When selling your home, you must realize that it's not likely that the right buyer will simply walk through your door on their own. Generally, you have to bring your home to the buyer, and that means counting on a real estate professional to put forth a successful marketing campaign.

You'll want an agent who will make the best use of television and newspaper advertising, and one who uses state-of-the-art techniques such as an interactive voice-response system, a front end MLS system and the internet. And, you'll want to have a number of open houses to expose your property to a wide variety of "window shoppers". Make sure your agent is trained not only in the financial aspect of a real estate transaction, but the marketing aspect as well.

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An Offer!

When you have a home for sale, eventually a prospective buyer will "make an offer." As the seller, you basically have three options: you can accept the offer, reject the offer or give a counter offer. A counter offer usually will encourage a buyer to continue their negotiations. You may also receive multiple offers.

You may prefer to take slightly less for your property from someone who is willing to pay cash, versus someone who needs to sell their current home first. Contingencies, move-in dates, and financing are all things to consider when weighing an offer. If things seem a bit overwhelming, rely on your experienced real estate professional, who can go over the various points with you, and help you choose the best offer.

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The Closing

Once you've accepted an offer on your property there's a number of details that still need to be finished. There will probably be an inspection of your home by a professional who will determine the condition and integrity of your property for the buyer. The buyer's mortgage company may chose to send out an appraiser who will assure the lender of your property's worth. The title company will warranty that there are no liens or existing encumbrances which would inhibit a transfer of title to the buyer.

Either you or the buyer may chose to be represented by an attorney. First time sellers and buyers often feel more comfortable to have the paper work reviewed prior to signing. Rest assured that you can always rely on your real estate professional to make sure the entire home selling process proceeds smoothly.

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