Selling Tips That Make A Difference

Selling Tips That Make A Difference

Today’s real estate market is a bonanza for buyers with great credit, and deep pockets. There are great deals for single family residences, condominiums, town homes and land, but prospective buyers are looking for sellers to sweeten the pot. If you’re a first time home seller or you’ve owned your home for a while and want to cash out your equity, “welcome to the NFL.”

This real estate market is a much different animal than years gone by and you need to recognize that and deal with it from the get-go.

Here are some tips that will help you sell your home:

1. Price it ahead of the market! When your home first comes on the market, it has to be priced realistically so that it’s shown. I’m telling you that the largest number of showings happens in the first several weeks of a new listing coming on the market. If it isn’t priced ahead of the competition, it will sit and that’s the kiss of death. Take advantage of this initial time-frame by understanding who your competition is, visit those listings, compare them to your home, then price your home ahead of them so you stand out.

2 Know what you’re selling! Do you have any additions/repairs that were done without permit? Is the square footage of your home/lot based on tax records? These are potentially big issues. In any market, buyers don’t want to deal with uncertainties. They want to buy a property where they know the square footage of the home/lot and know that all work done has been done in compliance with local ordinances and by a licensed contractor. If you have any work that has been done without a permit, in my opinion, it’s not good enough to disclose it in the MLS. You should get it inspected by the local building inspector, have him/her prepare a report of findings, contact a local licensed contractor to get an estimate and get the work corrected/ inspected/approved. Additionally, your lot/ home should be surveyed so that the corners are marked and gross square footage is calculated for the home. By doing this, you now know what you’re selling AND the buyer knows what he or she is buying. No surprises! You’re putting your best product forward! Buyers appreciate sellers who take the time to prepare their home for sale and provide current information on the size and condition of the property. Do your listing due diligence and it will pay off!

3 Be Prepared to Lose Some Equity! The longer your home sits, the more money you’re losing. By pricing your home aggressively to begin with, you are positioning your property to spend less time on the market. Which also means that you are also going to lose less equity in the long run. Today’s market is very price sensitive. Be acutely aware of that as you discuss the list price of your home. Don’t let your emotional ties to your property over-ride common sense and market direction.

4 Market Your Property! Work with your Realtor to sell your home. Share ideas. Figure out who your ideal client is and go after them. Have extra property flyers prepared that you can distribute, via email or by hand, to friends/family/ business associates who may be or know someone who fits your client profile. Spread the word about what a great deal your home is. Get excited when you talk about it and share your enthusiasm with others. There’s a certain synchronicity/ serendipity you create when you reach out to others and share a genuine enthusiasm/interest.