Home Selling Tips For Today's Tough Market
Selling a home in today's tough market is challenging even if your home's
features are outstanding and you think you have the hottest property on the block. Whether you decide to go the For Sale by Owner route or list with a local real estate agent, you still need to prepare your home for sale first. Here are some tips to get your started on the right track:1. Interview with at least three neighborhood Realtors and find out what your home is worth.
2. After choosing your realtor, then you will need to negotiate and sign a listing agreement with the Realtor's brokerage company. Typical listing terms are 6 months or a year in this market, but six months is probably long enough if you list your home at the right price.
3. Do not overprice. That is the biggest mistake that sellers tend to make. Especially in today's market, you are competing with distressed properties such as short sales and bank owned REO's. Buyers are looking for good deals. If you overprice the home, it will not sell. Other Realtors will show your home with the purpose of using it as a comparison to homes in the neighborhood that are well priced. Buyers will not make offers on overpriced homes because they know the sellers are unrealistic. Today buyers have so many other choices of homes, they will make an offer on one that is priced to sell. Your home should be listed at or slightly below the market value.
4. Start preparing your home for sale by cleaning, getting rid of clutter and sprucing up the outside as well. The buyer's first impressions when they pull up to the curb are very important.
5. You may want to consider hiring a home staging company or have your Realtor give you suggestions on how to make your home attractive to a large pool of buyers. Many times all you need to do is paint, remove clutter, rearrange some furniture and add some colorful accessories like pillows and baskets.
6. Make repairs that pay off. If you have hardwood floors, refinish them. Replace worn carpet and paint the walls and ceilings. Fix any cracked or chipped tiles. Resurface kitchen cabinets.
New faucets and sinks make the kitchen look updated. Since granite is expensive, you can use laminate on the counters. The buyers will appreciate the fresh look of the kitchen. They can always add granite after they purchase the house. Replace old bathroom floors with new floors.
7. If you have pets, make sure you keep them out of the way when showing the home. Also keep their food and areas clean and free of pet smells. Room diffusers or candles are an easy way to make a pet area smell good.
8. Roofs should be replaced if necessary. Buyers tend to shy away from homes that have leaky roofs or need new roofs. Resurface driveways and mend fences or replace them. Also plant flowers, trim bushes and hedges, and mow the grass. Good curb appeal is important.
Today's buyers are looking for move in condition homes that have updated plumbing, heating and electrical systems and need little or no maintenance with modern kitchens and bathrooms. If you plan on selling our home without making any repairs, then you will need to reflect this in a much lower listing price. Keep in mind that your home will then appeal to a much smaller group of buyers who are only looking for fixers that they can rehab and purchase at bargain prices.
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