Develop a Plan of Action
Analyze why you are selling
If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.
Find a good real estate agent that understands your needs
Make sure that your agent is loyal to you, and can negotiate to help you achieve your goals. In addition, they should be assertive and honest with both you and the buyer.
Prepare you home for the buyer
Maximize the strengths of your property and fix up it's weaknesses. You want the buyer to walk away from your home with a lasting good impression.
Set the Right Price
The most important factor of marketing your home is pricing it right. Your price should be adjusted to reflect the market, and the property's worth. The key is to get many people checking out your property at a fair price instead of having no buyers because your price is set to high.
Negotiate for the best price and the best terms
Learn and understand your buyer's situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through. Learn how to counter offer to get more from every offer.
Make sure the contract is complete
Be honest with your disclosures; you do not want to lose the deal inspection. This will protect both you and the buyer.
Know Why You are Selling
If you know exactly why you are selling, then it is easier for you to set the right plan of action to get what it is that you want.
If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won't or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing times drag on.
It's always good to know how low you will go, in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously and take into consideration the terms of each offer, sometimes, if you know the bottom line and are strict about it, you can save yourself time.
Once you know what your limits and reasons are, discuss them with your agent so that they can help you set your goals realistically. If you decide to list your home on your own, make sure you do research on the current market, and you get the proper advice you need in terms of legal issues, etc. The key is to be realistic and to know what your goals are so that they can be met.
Why Use a Realtor?
Pricing your home correctly
Realtors are familiar with the housing market and can make sure you are asking the right price for your home. Properly priced homes typically sell quickly. Finding the right buyer. Real estate professionals have access to a multitude of buyers. They know the market and can direct serious buyers to your home.
Developing effective marketing strategy
Real estate professionals can market your home through a vast amount of resources including signage, Internet and networking. They know to list your home in the most appealing way-bringing out your home's best selling features.
Real estate professionals can handle all of the paperwork and decipher real estate jargon to both buyers and sellers.
Watching the market
Realtors have access to Multiple Listing Service - a database with all of the available housing information.
Real estate professional take away the stress and time consuming components of selling your home. You won't have to deal with all the phone calls from buyers or worry about showing your home and "making the sale."
Real estate professionals will act as a go-between for you and a potential buyer. As experts, they will ensure that you are getting the best deal possible and save you a lot of headaches associated with negotiating an offer.
Preparing Your Home for Showing
With almost all buyers, the first impression counts. A small investment in time and money will give your home an edge over the other listings in the area when the time comes to showing it to a prospective buyer.
Here are some suggestions that will help you to get top market value:
Oil Squeaky Doors; Tighten Doorknobs; Replace Burned Out Lights; Clean and Repair Windows; Touch Up Chipped Paint
Cut Lawns; Trim Shrubs; Weed and Edge Gardens; Pick Up Any Litter; Clear Walk and Driveway of Leaves
Spic and Span
Shampoo Carpets; Clean Washer and Dryer; Clean Tubs and Sinks; Clean Furnace and Change Filter; Clean Refrigerator and Stove; Clean and Freshen Bathrooms
The Buying Atmosphere
Be Absent During Showings; Turn On All Lights; Light Fireplace; Open Drapes in Daytime; Play Quiet Background Music; Keep Pets Outdoors
The First Impression
Clean and Tidy Entrance; Functional Doorbell; Polish Door Hardware; House Numbers Visible
The Spacious Look
Clear Stairs and Halls; Store Excess Furniture; Clear Counters and Stove; Make Closets Neat and Tidy
Setting the Right Price
The price is the first thing buyers notice about your property. If you set your price too high, then the reflects how serious you are about selling your home.
Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA. The CMA will reflect the following:
- houses in your price range and area sold within the last half-year
- asking and selling prices of houses
- current inventory of houses on the market
- features of each house on the market
From the CMA, you will find out the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.
Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.
Always be realistic; and understand and set your price to reflect the current market situation.