Seller’s Resources

  Common Selling Mistakes (85.7 KiB, 420 hits)

  Home Selling Strategies (54.3 KiB, 423 hits)

  Home Showing Tips (71.2 KiB, 395 hits)

  Moving Checklist (82.5 KiB, 422 hits)

  Sell Your Home For More (96.8 KiB, 428 hits)

 COMMON SELLING MISTAKES

Overpricing Your Property

It’s important to refer to comparative market reports when pricing your property. Examples of such reports include the Comparative Market Analysis (CMA), and Uniform Residential Appraisal Report (URAR).

When your home is overpriced you help your competition. A technique sometimes used by real estate agents is to first show an overpriced home, then show a similar market priced home. This technique helps sell the market priced home since it is the better buy.

An overpriced home is often avoided altogether. By showing overpriced homes, an agent can jeopardize their relationship with the buyer. The buyer may think it’s a waste of time, or wonder if the agent has their best interests at heart.

An overpriced home can remain on the market, become “shop-worn” and even harder to sell. The longer a home remains on the market, the harder it is to generate interest in it, and the eventual selling price can be less than market value.

By listing your home at market value, you can generate the greatest amount of interest and competition for it, resulting in the best possible selling price.

Failing to Prepare Your Home

It’s essential that your home be clean, well-maintained and in turn-key condition just prior to marketing it for sale. The fewer repairs the buyer has to make, the more they’ll likely pay more for your home.

Assuming you’ve maintained major components of your home (roof, foundation, plumbing, electrical, heating, cooling, kitchen, baths, etc.), preparing your home for sale includes correcting normal deferred maintenance. Do not undertake major capital improvements unless necessary. You’ll likely not recover their cost when you sell.

A thorough inspection of the interior and exterior of the property is necessary to determine what maintenance is needed. Anything not in good condition should be repainted, repaired, replaced or otherwise corrected. Be willing to pay for professional inspections and repairs.

Two-stage exterior inspection

Walk around the exterior twice. The first time around, note the condition of the roof, gutters, downspouts, roof vents, TV antenna, chimney, etc. Depending on roof construction, look for roofing material (shingles, shakes, tiles, bitumen, felt, mineral aggregate, etc.) in need of replacement or repair. Access a flat pitched roof with a ladder or through an interior access opening. Do not walk on a built-up roof.

The second time around note the condition of the exterior paint, siding, windows, window openings, walkways, driveway, entry stairs and railings, landscaping, fences, vents, plumbing fixtures, etc.

Interior Inspection

Begin an interior inspection from the top floor and work your way down to the basement. On any given floor (including a single-level property), inspect contiguous areas systematically. Do not skip from one part of the home to another. Operate every door, window, electrical switch and outlet, plumbing fixture, etc. Note any ceiling stains (potential roof or plumbing leaks).

Professionally clean the interior. Replace floor coverings which display excessive wear. Paint where necessary. Consider hiring a gardener to keep the grounds in good condition while you’re selling.

Remodeling Prior to Selling

Remodeling your home prior to selling may not be economical.  For example, spending $50,000 on a bedroom addition may not increase the value of your home by $50,000.

Capital improvements which may be economical are those which result in your home conforming to the neighborhood. For example, if you own a home with one bathroom and the neighborhood consists of homes with two bathrooms, then adding a second bathroom might be economical. Adding a third bathroom would not be. Consult your Realtor before improving your home.

Not Marketing Your Property Well

If your property gets only limited exposure, you may not get the best price for it. A good marketing plan provides maximum exposure. Such a plan will differentiate your property from the others on the market.

Two familiar marketing methods, open houses and print advertising, are surprisingly ineffective. Only 1 percent of homes are sold at open houses, and advertising studies show that only 3 percent of people purchased their home because they called on a print ad! Select a Realtor who will employ a wide variety of marketing activities, particularly those best suited to selling your home.

Failing to Take the First Offer Seriously  

Some sellers believe that the first offer received will be one of many to come. As a result, there is a tendency not to take it seriously enough and to hold out for a higher price. This is especially true if the offer arrives soon after the home is placed on the market. A good offer is composed of more than just price. The terms of the offer, and the ability of the buyer to meet those terms are critical. Give sufficient weight to reasonable terms and a strong buyer.

Real estate is more likely to command a higher price early in the marketing process. The longer a property is on the market, the less likely it will sell at market value.  “Who wants a property that no one else wants?”  Take the first offer seriously; often it is the best. Many sellers would give anything to find that prospective buyer who made the first, and only offer.

Trying to Sell Your Home

Buying a home is an emotional decision. It’s important to help prospective buyers feel as comfortable as possible in your home. If your Realtor asks you to be absent from your home while it’s being shown–be absent!

Out of respect for you, buyers viewing your home in your presence usually won’t state their genuine concerns. Addressing a buyer’s concerns is part of a Realtor’s job. If the Realtor doesn’t know their concerns, she can’t address them and sell your home!

Some sellers want to guide the potential buyer through their home in order to point out particular upgrades and valuable amenities. Discuss these with your Realtor so that she may relay this information.

Not Understanding Your Contractual Obligations

Carefully read and understand your contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you money. Make sure that it’s clear who pays for the various fees incurred in the transaction. Review the dates on the contract and understand any penalties potentially caused by missing them. Also, its important to know under what circumstances the contract may be terminated.

Ask your Realtor about other tips!

 

 

 

• 6-foot stepladder: attic access

• flash light: crawl space and attic inspection

• ice pick: to indicate wood rot and termite infestation

• magnet: to determine if plumbing pipes are iron

• marble: to note if the floors are relatively level

• electrical tester: for checking electrical ground connection, particularly in kitchen and bathroom

• binoculars: for a closer look at the roof and roof-mounted structures

• compass: to determine the building’s exposure (helpful in evaluating various structural elements and components)

Before any potential buyer inspects your home, go beyond the obvious tasks of cleaning out closets, drawers, and removing extra furniture. Inspect items and areas you may have overlooked such as interior and exterior walls, electrical switches and outlets, crawlspace, attic, foundation, plumbing, roof and roof structures.

Below is a checklist designed to systematically draw your attention to often overlooked items. This is not a complete list, nor is it designed to replace the services of a competent home inspector. We strongly urge you to educate yourself regarding home inspection and obtain the services of a professional inspector. A home inspector will check all areas of interest and recommend needed repairs. You won’t have to worry about what a potential buyer might find and use to his advantage. To learn more, visit your favorite local or on­line book seller and search for “home inspection.”

Worthwhile Repairs

Making small but necessary repairs will increase the value of your home and help you get a good offer. Making last-minute capital improvements, such as adding a room, probably won’t be economical. Capital improvements may be economical, however, when improving the kitchen or bathroom. Ask your Realtor about which repairs and improvements are worthwhile.

Pre-sale Inspection Checklist

When your inspection, organizing, cleaning, polishing and repair of the following items is complete, check it off.

Interior

___Windows, Doors and Door Frames

___Floors

___Carpets

___Ceilings

___Paint and Wallpaper

___Light Fixtures, Wall Switches and Plugs

___Kitchen Cabinets, Exterior

___Kitchen Cabinets, Interior

___Kitchen Appliances

___Kitchen Counters

___Bathroom Counters and Wall Fixtures

___Bathroom Plumbing Fixtures

___Bathroom Tile, Ceilings, Walls & Floor

___Mirrors

___Fireplaces & Heaters

___Crawl Space – Overhead and Under the House

___Basement

___Stairs

___Attic

___Closets & Pantry

Exterior

___Paint, Color, Siding and Trim

___Porches

___Decks

___Gutters

___Roof

___Windows

___Doors

___Garage or Carport

___Garbage Cans and Garbage Can Space

___Rubbish & Refuse

___Outdoor Sheds

___Pool or Spa

Foundation and Infrastructure

___Foundation

___Supports

___Slab

___Plumbing & Pipes

___Heating, Furnace, Air Conditioning

___Electrical

___Water Heater

___Water

Safety Issues & Devices

___Detectors

___Asbestos

___Lead, Formaldehyde, Radon

Landscaping

___View

___Boundaries & Fences

___Walls

___Soil

___Ponds

___Driveways & walkways

___Landscaping

___Drainage

___Sewer & Septic

Additional Considerations

• The first impression is the most important. Make the front of your home a standout in every way.
• The living areas must be open, spacious, well lighted and fresh smelling. Remove and rearrange furniture as needed, turn on the lights, open a window and bake an apple pie!
• The kitchen must appear, above all else, spacious and spotless. Store some of your overflow to make the shelves look roomier. Grind a lemon peel in the garbage disposal.
• Master bedroom and bath must give the impression of space and flow. Thin your closets, remove all extra furniture. Create enough space so that a potential buyer can imagine filling it with their own possessions.

Don’t forget to ask your Realtor for additional tips on “staging” and decorating!

Home Showing Tips

It’s a challenge to keep your home in tip-top, showing condition at all times. Children, pets, and personal living habits tend to add some “clutter.” Also, the Realtor’s call informing you that he’s coming by with a potential buyer often comes as a surprise.

Here is a list of last-minute items to attend to between the Realtor’s call and his arrival to show your home.

• Clean up all messes.
• Clean and put away dirty dishes.
• Clear tables of newspapers and clutter.
• Send children and pets outdoors to play, or have them visit a neighbor. You should also prepare to step out for a few minutes. It is better if you are not at home while it is being shown.
• Turn off appliances, including the television and radio.
• Day or evening, turn on all the lights. Your home will appear brighter. Shadows will be reduced. During daytime, open the drapes. At night, turn on the porch light.
• Close the garage door.
• Put away children’s toys.
• Open some windows unless there are noise considerations.  (Weather permitting).
• Remove any ashtrays and evidence of tobacco.
• Eliminate any bad or stale odors. Use air freshener, especially if you smoke, have pets, or the house has been sealed for some time. Gingerbread cooling in the oven is a great touch! Other good fragrances are cinnamon and spices.
• In Winter, light a fire in the fireplace. In Summer, have the wood stacked neatly beside the fireplace.
• Be sure your plants have been watered and look healthy.

 

It is best to leave your home whenever possible. If you can’t leave, greet your guests politely and retreat to another room.  By staying out of the way, your Realtor can expertly guide prospective buyers, answer their questions, and more effectively sell your home.

By following these guidelines, you’ll know you’ve done your part in helping to elicit an offer for your home.

Ask your Realtor for additional home showing  tips!

 

 

 

Moving Checklist

Moving involves numerous different tasks. A checklist can help you remember what needs to be done. A good list can also help make moving less stressful.

One Month Before Moving

• Submit a US Postal Service change of address form.

• Submit an IRS change of address form.

• Make arrangements with moving company truck rental agency.

• Make any necessary travel arrangements with airlines, buses, car rental agencies

and hotels.

• Transfer or cancel memberships (church, clubs, civic organizations).

• Obtain (or locate for mailing) medical and dental records, x-rays and prescription histories. Ask your doctor and dentist for referrals. Transfer prescriptions.

• Open a checking account in your new city.

• Research your new city’s rules and regulations affecting your business, profession or hobbies.

• Inventory your belongings before packing. You may later need to file an insurance claim. If possible, take pictures or video record your belongings. Record serial numbers of electronic equipment.

• Make arrangements for transporting pets.

• Consume perishable food and items in open packages. There will be less to pack, spill and spoil.

One To Two Weeks Before Moving

• Coordinate stop (old residence) and start (new residence) dates for utilities and other service providers (gas, electric, water, refuse collection, newspaper, magazine subscriptions, cable, telephone, etc.)

• Arrange for help on moving day.

• Confirm travel reservations.

• Reserve elevator if moving from an apartment.

• Have appliances serviced for moving.

• Clean rugs and clothing and have them wrapped for moving.

• Plan ahead for special needs of infants.

• Close bank accounts and have your funds wired to your new bank. Before closing, be sure there are no outstanding checks or automatic payments that haven’t been processed.

• Collect valuables from safe-deposit box. Make copies of any important

documents before mailing or hand carry them to your new address.

• Check with your insurance agent to ensure you’ll be covered through your

homeowner’s or renter’s policy during the move.

• Defrost freezer and refrigerator. Place deodorizer inside to control odors.

• Give a close friend or relative your travel route and schedule so you may be reached if needed.

On Moving Day

• Double check closets, drawers, shelves, attic and garage to be sure they are empty.

• Carry important documents, currency and jewelry, or forward via registered mail.

• Carry travelers checks for quick, available funds.

After Arriving At Your New Home

• Renew your driver’s license and registration.

• Shop around for new insurance policies, especially auto coverage.

• Revise your will and other legal papers to avoid longer probate and higher legal fees.

• Locate hospitals, police stations, veterinarian and fire stations near your home.

Ask your Realtor for more moving tips!

 

SELL YOUR HOME FOR MORE

Creating the “WOW! Factor”

Before potential buyers start arriving with their checklists in hand, know this:  Their decision to buy will be based primarily upon emotional considerations. Your informed efforts can elicit the emotional “buying” responses you want. Creating the “WOW! Factor” of a glowing presentation, as outlined below, will encourage the buyer’s attention, intrigue and desire. Eliciting these emotional states will be your primary job as a seller. The simple procedures outlined below can help turn heads and create the desire to purchase.

Start With A GREAT First Impression

First impressions are the most lasting and important factors in the sale. You gain a powerful competitive edge when you invest some time, money and effort toward making  your home as attractive as possible. The results? A home that “pops” with possibilities in the buyer’s eye.

Curb Appeal

The exterior of your home is the first thing a buyer sees. Walk into the street and take a look. Does your property convey impeccable order, cleanliness and good repair? This is referred to as “curb appeal.” If your curb appeal is less than the desired “WOW! Factor”, consider:

• Are your flower gardens neatly planted and weeded? Putting down some fresh bark is a great touch.

• Are your lawns green, neatly mowed and trimmed around the edges? Hire someone if you don’t have the time or equipment to do it yourself.

• Are your shrubs healthy and trimmed? Remove and replace anything unhealthy or unsightly.

• Are your fences and gates in good repair and freshly painted?

• Remove hoses, sprinklers, toys, garden tools or debris – anything lying around that isn’t where it belongs.

• Does your paint and trim look fresh and sparkling? Paint or power wash. Anything dull, cracked or dusty kills the “WOW! Factor” in a heartbeat.

• Are the gutters and downspouts clean and in good repair?

• Is the roof in good repair?

• Are your windows, screens and ledges clean? Replace torn screens or cracked glass.

• Is your driveway oil stained? Clean it up.

Here are some inexpensive touches to really put on the sparkle:

• A clean, shining mailbox. No dents, no dust.

• A brass kickplate on the bottom of the front door.

• A new doormat.

• Impeccably polished and functioning doorknobs, door knocker, doorbell and front light.

A Glowing Interior

You got their attention at the curb, now keep the “WOW! Factor” going with a glowing interior. Start with a full housecleaning from top to bottom. Do not store unused or unnecessary items in closets and storage areas. Before putting your home on the market, remove clutter by donating items to charity, storing them offsite, or selling them at a garage sale  Eliminate clutter and your home will be noticeably more spacious.

Even minor improvements will often yield as much as three to five times the repair cost at the time of sale. Ask your Realtor to point out what repairs will significantly increase the value of your home. Seemingly small fix up jobs can have quite an impact.

Take an inspection tour of your home as if you were a potential buyer. Is it clean and uncluttered? Does it sparkle?  Does it smell fresh? Make sure that:

• Walls are clean and free of nail holes or dents. Paint them if necessary.

• Woodwork and wallpaper are clean and in good condition.

• Old furniture is removed.

• Curtains and drapes are clean.

• Rugs and carpets are shampooed and floors are waxed.

• Loose doorknobs and window fixtures are repaired.

• Leaky fixtures are fixed, water discoloration in sink and toilets is eliminated.

• Loose banisters are tightened and steps are free of objects.

• Light fixtures work and old switch plates are replaced.

• All closets, shelves and drawers are organized to display spaciousness.

• Clothing is hung neatly and shoes and other objects are neatly arranged.

• Bathrooms are sparkling clean, and tub and shower caulking is repaired.

• Bedrooms are neat, bedspreads and curtains are attractive.

• The kitchen is clean and tidy, including cupboards, stove and oven.

• The basement, attic and garage are clean and well organized.

• Mirrors, picture frames and glass covering pictures are clean.

• Mirrors are strategically placed to create an impression of added space in problem areas.

• Lamp shades are in good condition.

• Houseplants are healthy and dust-free.

• Does electrical lighting create cheer and a sense of spaciousness?

• Are your garage and basement neat, clean and orderly? Consider applying a coat of fresh white paint to these areas.

For “space-creating” ideas, visit a model home or apartment. Notice how the rooms are sparsely furnished to make small rooms appear larger. Traffic patterns appear more open and accessible. You can easily apply this strategy at home!

Ask your Realtor for additional staging and decorating tips!