Sellers
Selling a house can be as exciting as buying your first home. Whether it is an equity sale, pre-foreclosure property, there are no guarantees that a buyer will simply walk in to purchase your home instantly.
Sellers need to understand the following:
a) Comparative Market Analysis. This is a presentation of the recent solds within the neighborhood. It will determine the high, average days in the market, average price per square feet & average market value of properties around which will become the basis of the seller’s asking price of his / her property. Fair market value attracts buyers, overpricing never does!
b) Fair market value. This is what a willing buyer and a willing seller agree by contract is a fair price for the home. Values can be impacted by a wide range of reasons but the two largest are location and condition. Generally, fair market value can be determined by comparables – other similar homes that have sold or are currently for sale in the same area. Sellers often view their homes as special and sentimental which tempts them to put a higher price on the home, believing they can always come down later, but that’s a serious mistake. Overpricing prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers shop by price range and look for the best value in that range.
c) Intelligent Pricing and Timing. Your best chance of selling your home is in the first two weeks of marketing. Your home is fresh and exciting to buyers and to their agents. This is a very precious time to shout out your home in the market. This crucial time can either make or break the opportunity of getting your home sold in this market. Place in a for sale sign the yard attracts anyone passing by even neighbors. Neighbors may pass this information to their friends & family especially if there is an open house schedule coming up. If you don’t get any showings within that time, you must consult with your agent. Perhaps you overpriced on your home or staging is not as appealing to buyers.
Intelligent pricing isn’t about getting the most for your home – it’s about getting your home sold quickly at fair market value.
| Selling Your Home in a Tough Market |
| CMA’s vs. Appraisals |
| Showing the Property |
First impressions always last. There are many ways to make your property appealing to buyers at any market condition:
a) Make it a clutter free property. Regardless if the house is an old or new house, it is always refreshing to see a clean home.
a.1) Clear the kitchen counters.
a.2) Organize all toys or other things in one basket & keep it inside a closet or pantry.
b) Make it look pleasant and inviting. Spray in some sweet scent air freshers around the house. Open the window blinds or curtains so natural lights blossom into the house.
c) Throw in some classical music. This makes guests want to stay & explore the house without in a hurry.
d) Put in some flowers on the main dining table and living room. Let these flowers add beauty to the property naturally.
e) Vacuum the carpets and clean the floors. Minimal and decent cleaning of the entire house is needed when showing the property.
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