Selling your home is one of the most important steps in your life. Here are 7 essential tips you must know…..This guide is written with one goal in mind: to give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the home selling process.
This is part one in a three part post by Pam Larkin, First Weber Group, Wausau-Rib Mountain
Tip #1 Know why you’re selling.
Look closely at why you want to sell; your motivations play an important role in the process. They affect everything from setting a price to deciding how much time and money you’ll invest to getting your home ready.
Tip #2 Once you know, keep it to yourself.
Your reasons will affect how you negotiate the sale of your home, but they shouldn’t be given as ammunition to the person who wants to buy it.
Tip #3 Do your homework before setting a price.
The trick for the seller is to get a selling price as close to the offering price as possible. If you start out by pricing too high, you might not be taken seriously by prospective buyers and their agents. A price too low can result in selling for much less than you had hoped for. Your realtor will do market research and provide you with comparables showing where your home should be priced to best meet your goals—a fast sale, maximum profit, etc.
Tip #4 Go home shopping yourself.
The best way to get to know your competition, identify features that are popular and learn what turns buyers off is to check out other open houses. Be sure to note the floor plan, condition, appearance, size of lot, location, and what other “buyers” are saying.
Tip #5. Your tax assessment means almost nothing.
Assessments are based on a number of criteria unrelated to property values, so they often don’t necessarily reflect the true value of your home. Have you ever heard of two identical homes in the same neighborhood with dramatically different assessed values because one was purchased more recently than the other?
Tip # 6 Find a good Realtor
Nearly two-thirds of the people who sell their own home say they wouldn’t do it themselves again, according to research by the National Association of Realtors. Sellers surveyed point to difficulties in setting a price, marketing handicaps and liability concerns among the primary reasons they would turn to a Realtor next time. And selling a home yourself usually eats up more time and effort than you might initially expect.
Contact a couple of Realtors, you probably met a few that you liked during your open house tour. Explain to each that you’re thinking about putting your home on the market and you’d like to meet to talk about pricing and marketing. By having this group evaluation done, you should end up with a fairly tight price range to help guide your decision. Any Realtor who is substantially higher or lower than the group should be able to justify their estimate. Just as you should be concerned with the too low of a price, beware of an agent who gives you the highest price-they may be trying to buy your listing.
A good Realtor knows the market and your neighborhood in particular. They will supply you with information on past sales, current listings, a marketing plan, something on their own background, and references from past clients. Take time to carefully evaluate candidates on the basis of their experience, qualifications, enthusiasm and personality. Most importantly, make sure you choose someone who is going to put in a lot of hard work on your behalf.
Tip # 7 Maximize your home’s sales potential.
Appearance is critical-and it would be foolish to ignore this when selling your home.
The look and “feel” of your home generates a greater emotional response than any other factor. You may price your home to sell, but a prospective buyer reacts to what they see, hear, feel and smell.
Check back next week for more. Part one of a three part post written by:
Pam Larkin, First Weber Group Wausau-Rib Mountain