The days when you could throw a "For Sale" sign in the front yard and have your home sell quickly are over, at least for now. Around our town, home inventories are up, and the result has been a drastic increase in average selling times. Add to that the fact that your home may not be worth what it was a year ago, and you've got the makings of a rather lengthy, potentially miserable, sales process.
But, it doesn't have to be that way. All you need to do is make sure that your home is one of the better looking ones in its price range. Of course, this is easier said than done, especially when you consider the number of owners who are willing to go to extreme measures to prepare their homes for sale. Let's put it this way: remodeling a kitchen or reflooring the entire house would not be considered that uncommon.
If this scares you, here's some news that may lift your spirits. Although selling a home has become harder, buying your new home will be much easier and cheaper! This is because the seller of your future home will be taking the same steps you are to secure the sale. Now that we're looking at the glass as half-full, let's concentrate on getting your home sold.
Hint #1: Adapt a "seller's state of mind"! While you have lived in your home for a number of years and become accustomed to its look and feel, a prospective buyer has not. Your home is now a product ... a commodity, and it's your job to prepare it for sale. All of the decisions you make now are business decisions, and emotions should be avoided. It's time to bring in a professional real estate broker and home stager regarding what needs to be done and then act on their advice.
Hint #2: You must be pro-active! Why not obtain a home inspection before putting your home on the market ... then take care of the necessary repairs. Be prepared to offer a copy of the report to prospective buyers. They will appreciate knowing that you've already taken care of these issues in advance.
Hint #3: Find out how the real estate agent you are interviewing plans to market your home. Is it a "generic" pre-packaged company plan, or has the agent developed a marketing strategy exclusively for your home?
Hint #4: Be sure your agent is active within your specific marketplace. Just as you would go see a specialist for a medical or legal situation, the real estate agent you choose should know the ins and outs of your neighborhood.
Hint #5: Don't hesitate to ask for references, including phone numbers and testimonials, from satisfied clients.
Hint #6: The homebuying process today begins at a computer. How your property is positioned on the internet is crucial to a successful sale. Check out Realtor.com for listings that the agent you're considering has. Compare to other listings on that site. Look at the agent's personal website. Do you like what you see? Does it get you excited?
Hint #7: Ask about a VisualTour. If an agent isn't willing to produce and pay for this ultimate marketing tool, why should you hire that agent? Statistics show that homebuyers gravitate toward properties that offer multiple internet photos and/or some sort of virtual tour.
Hint #8: Examine the agent's support staff. This includes everything from the agent's personal assistant(s) to the industry-related professionals (i.e., title/escrow companies, inspectors, contractors, lenders, etc.) that comprise the agent's expanded team.
Hint #10: Price your home just below the high-end range of value for your property. If the market analysis dictates a selling range between $290,000 and $300,000, resist the temptation to list it at $309,000, rather than $299,000.
Hint #11: Finally, you really need to like the agent. You're going to be "partnering" with the agent for weeks or months. You want a comfortable relationship and above all, an agent who understands and is responsive to your needs during what may be a stressful experience in a sluggish market.
Spring is on its way and that means that potential homebuyers will soon be looking for a house. If you're thinking about selling your home, then NOW is the time to focus on "catching their eye". If you start transforming your home now, you'll gain a leg up on all the other sellers. Call us for personal advice ... we're glad to help ... AND we pay for that professional home stager you need!