Tip for the first-time home SELLER
Just like there are First Time Home Buyers there's First Time Home Sellers too.
Its a different world out there
Times have changed since mom and pop last sold their home, its not your father's housing market out there so keep that in mind. Today's buyers are fence-sitters with great credit just waiting for that perfect deal to come along.
Here are 7 things experienced sellers would tell you, if they could.
1) Price your property realistically from the beginning
NAR states that your most important time on the market is the first two weeks. If your getting showings, but no offers then you're over priced for the market. If your not getting any showings then you've priced yourself out of the market. The largest number of showings will occur in the first two weeks if you're priced right. Take advantage of that sweet spot by pricing your property competitively right out of the gate.
2) Be prepared to lose some money
You put your property on the market to sell it not watch it sit on the market. If you want to sell your property to expect what you paid for it a few years ago or what your tax assessor say's its worth. The market has changed dramatically.
"It seems like there's no relationship between your assessed value, taxable value and the actual market value of our house," says Pat Vredevoogd Combs, past president of the National Association of Realtors and vice president of Coldwell Banker AJS Schmidt in Grand Rapids, Mich. "There doesn't seem to be any correlation."
The hard truth is, your property is worth what a prospective buyer is willing to pay for it. This market is totally based on supply and demand.
BEWARE of the agent who promises big profits. That person may just be after your business to feed their own business.
3) Presentation, promotion & value
Ask any agent you interview "How will you market my property?"
You have to consider who your buyers will be and where they will come from. If you're targeting 20-somethings who live on their smartphones, you will need effective access to networks, social networks and new innovative tools, such as the QR Code, for home searching. You must not neglect the modern version of curb appeal, use lots of clear, professional, well-lit, staged pictures to show your property at its best.
4) Throw in extras
Offer buyers those top of the line washer & dryer set that you just so had to have but can't take it with you, or those difficult items to move, like the two wall-mounted flat screen TVs. These extra's could turn out to be great selling points.
5) Clear out the Clutter
Clean, clean, clean, pack, pack, pack, you're moving anyway when your property sells. Always imperative to keep your property clean. Clutter can mean the difference between cozy or cramped to buyers.
6) Appeal to the Lazy Buyers
Get your property move in ready for they buyers. Moving is tough work for everybody and the last thing a buyer wants to do is a "to-do" list when they move into their new home and make their fresh start easier. No buyer wants to tackle the jobs that you avoided or neglected.
Get a pre-home inspection - if you do this, you'll know what items need to be repairs and it can also cut down on closing time if they buyers accept your home inspection.
"From a presentation standpoint, you want them to feel it's turnkey -- ready to go," Ramsey says. "Because your competition is doing that. In this market, it's not just a price war but a beauty contest at the same time."
7) Putting your money where it counts
If you're looking to spend money on making your property memorable, seek someone who know's what will improve your market value.
A fancy upgraded kitchen or new bathroom may not always bring in value if your property is older or dated, your value is what it is. Something as small as painting that pink room or repainting the off eggshell white a soft neutral color, something easy on the eyes can make a big impact.
Don't disregard replacing the old dingy carpet either. A fresh new smell and look will bring in the buyers.
If you would like more tips on selling your home or you would like to find out how I get homes sold, give me call TODAY!
#Firsttimehomeseller
Its a different world out there
Times have changed since mom and pop last sold their home, its not your father's housing market out there so keep that in mind. Today's buyers are fence-sitters with great credit just waiting for that perfect deal to come along.
Here are 7 things experienced sellers would tell you, if they could.
1) Price your property realistically from the beginning
NAR states that your most important time on the market is the first two weeks. If your getting showings, but no offers then you're over priced for the market. If your not getting any showings then you've priced yourself out of the market. The largest number of showings will occur in the first two weeks if you're priced right. Take advantage of that sweet spot by pricing your property competitively right out of the gate.
2) Be prepared to lose some money
You put your property on the market to sell it not watch it sit on the market. If you want to sell your property to expect what you paid for it a few years ago or what your tax assessor say's its worth. The market has changed dramatically.
"It seems like there's no relationship between your assessed value, taxable value and the actual market value of our house," says Pat Vredevoogd Combs, past president of the National Association of Realtors and vice president of Coldwell Banker AJS Schmidt in Grand Rapids, Mich. "There doesn't seem to be any correlation."
The hard truth is, your property is worth what a prospective buyer is willing to pay for it. This market is totally based on supply and demand.
BEWARE of the agent who promises big profits. That person may just be after your business to feed their own business.
3) Presentation, promotion & value
Ask any agent you interview "How will you market my property?"
You have to consider who your buyers will be and where they will come from. If you're targeting 20-somethings who live on their smartphones, you will need effective access to networks, social networks and new innovative tools, such as the QR Code, for home searching. You must not neglect the modern version of curb appeal, use lots of clear, professional, well-lit, staged pictures to show your property at its best.
4) Throw in extras
Offer buyers those top of the line washer & dryer set that you just so had to have but can't take it with you, or those difficult items to move, like the two wall-mounted flat screen TVs. These extra's could turn out to be great selling points.
5) Clear out the Clutter
Clean, clean, clean, pack, pack, pack, you're moving anyway when your property sells. Always imperative to keep your property clean. Clutter can mean the difference between cozy or cramped to buyers.
6) Appeal to the Lazy Buyers
Get your property move in ready for they buyers. Moving is tough work for everybody and the last thing a buyer wants to do is a "to-do" list when they move into their new home and make their fresh start easier. No buyer wants to tackle the jobs that you avoided or neglected.
Get a pre-home inspection - if you do this, you'll know what items need to be repairs and it can also cut down on closing time if they buyers accept your home inspection.
"From a presentation standpoint, you want them to feel it's turnkey -- ready to go," Ramsey says. "Because your competition is doing that. In this market, it's not just a price war but a beauty contest at the same time."
7) Putting your money where it counts
If you're looking to spend money on making your property memorable, seek someone who know's what will improve your market value.
A fancy upgraded kitchen or new bathroom may not always bring in value if your property is older or dated, your value is what it is. Something as small as painting that pink room or repainting the off eggshell white a soft neutral color, something easy on the eyes can make a big impact.
Don't disregard replacing the old dingy carpet either. A fresh new smell and look will bring in the buyers.
If you would like more tips on selling your home or you would like to find out how I get homes sold, give me call TODAY!
#Firsttimehomeseller
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