Get More Money For Your Home
HOME SELLING TIPS
10 Things You Must Consider Before Accepting a Buyer’s Offer
As a home seller, one of your chief concerns is maximizing the sale price of your home. Making mistakes in selling can cost you hundreds or thousands of dollars in lost profit. But avoiding these mistakes is easy and takes little time and effort on your part to learn and apply. Follow the guidelines in this report for a variety of ways to save on costs and attract higher offers.
1. AVOID DISTRESS SELLING
Sometimes selling quickly is unavoidable. That is when knowing the right technique to sell your home, without looking desperate and making yourself a target for low bidders, really pays off. The technique is to know all there is to know about your market before you determine an asking price and list your home. Working hand-in-hand with a knowledgable real estate professional will ensure the highest payoff. Even though you might need a fast sale, you need to ensure you’re not selling for a distress price or communicating that through your marketing.
2. “BEST HOME IN THE NEIGHBORHOOD” SYNDROME
Your home is one of your most personal possessions. You might not realize it but being blind to any flaws or needed improvements can lead to overvaluing the home, hurting its chances to be sold. Listing with the right agent gives you a more objective opinion that will support your list price. Agents that never discuss flaws do a disservice to their clients because those flaws will eventually come to light during inspections. Best policy is to be up-front and totally transparent with everybody, most of all yourself, about your property’s strengths and weaknesses.
3. DON’T LIMIT YOUR POOL OF BUYERS
Buyers want to view a home on their own terms, not yours. Not accommodating a prospective buyer’s schedule decreases the pool of offers you might be able to receive. You should definitely allow a lock box or leave a key with your agent so your home can be shown when you are not around. You never know if the one who you couldn’t block in was going to be your best offer.
4. RESTRAIN EMOTIONAL DECISIONS
Do not allow a few dollars, which will mean very little to you in the long run, ruin a sale. I have seen too many transactions fall through because the seller wanted to quibble over what amounted to a few thousands dollars in concessions. Keep your eyes on the big picture, keep your original reasons for selling in mind, and approach each step in the journey with a rational mind and sound judgement.
5. MAKE COSMETIC IMPROVEMENTS
First impressions can make all the difference in selling your home since prospects make up their minds within the first twenty minutes. Spending $3,000 on new carpet might add another $6,000 to the selling price of your home. Get an objective point of view from your real estate professional who can provide you with a list of items that will maximize the profitability of your home sale, but cost little in comparison.
6. DISCLOSE PROPERTY FLAWS
Property disclosure laws require sellers to list any flaws up front. If you are unaware of flaws, or attempt to hide them, you risk losing the sale and finding yourself in court. Get professional assistance from your agent, who can introduce you to qualified inspectors and ensure the smooth sale of your home.
7. AVOID THE “FSBO TRAP”
Most homeowners who decide to sell their own home do so because they believe they can save the commission paid to the real estate agent. Everything has a price, and selling a home yourself carries a high one. The enormous amount of time and effort required to sell a home often surprises the For Sale by Owner. Dedicated FSBO’s also fail to take into account how much more they could have sold their property for with a reliable and competent professional at their side. Many costly mistakes can be avoided with the help of a real estate agent. Remember, a FSBOs buyer wants to save the commission, also!
8. CHOOSE AN AGENT YOU TRUST FROM THE START
Would you tell a physician that you have decided to run your own tests and diagnose yourself? By choosing a REALTOR® whose judgement you trust, you can relax. The right agent is a valuable team member, who will protect your best interests and make your sale as profitable as possible. Choosing a REALTOR® may be a hard decision, so evaluate their teams track record! Invite them to present all the ways they’re going to make your home selling experience easier and more profitable. The good one will not be shy about the opportunity to share how they’re different.
9. KNOW YOUR MARKET
If a home does not sell in its first listing period, it may be priced too high, but if sells very quickly, it may have been priced too low, cheating the homeowner out of profits they could have otherwise achieved. You need to understand your market and evaluate the value of your home based on objective reality and facts, not gut instinct or conventional wisdom. A professional agent knows the market, and can price your home appropriately, accounting for the fair market value as well as the “marketable value.”
10. CHOOSING A REALTOR® BASED ON PERSONAL RELATIONSHIPS
Home sellers often pick a friend or family member as their agent, when they should choose an agent with a strong track record and aggressive marketing plan. Top producers know their market well, generating many interested buyers and qualified offers. Selling your home is one of the most important business transactions you will ever make! Base the sale on good, sound business principles and the rewards will add up.
READY TO SELECT A REAL ESTATE AGENT?
We sincerely hope these tips and ideas are of value to you. We would consider it a privilege to be of service! Get the backing of a top agent to ensure that all the important issues and seemingly insignificant—but important—details are handled professionally. Selling your home should not be a grueling ordeal.
We pay our own commission by selling our client’s homes for an average of 8% above market value. Our agents are extensively trained to identify and emphasize the most valuable features of your property throughout the home selling process. If you’d like to see how we’d market your home, get in touch with us for a personal, “no obligation” appointment.
Home Selling Tips provided courtesy of:
Tyler West
Realtor
(530) 852-1512
tyler@premiers.co
DRE: 02135475
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