“It’s a challenging market for home sellers right now.
Buyers have a lot of options!
Your house is likely just one located among a hundred for-sale signs, so don’t mess around when you are serious about selling it!”
1. Don’t do it yourself, unless you are a Pro. “Most people don’t buy and sell houses more than once or twice in a lifetime, and there’s a lot of money at stake!
If you’ve bought and sold half a dozen homes on your own, and are familiar with disclosure laws, contracts, closing transactions, etc… then you might be able to pull off a For Sale By Owner.
If you aren’t a seasoned pro, let a professional work with you. “
Leonard Real Estate Group suggests: If you can, get a realtor recommendation from a friend or colleague. Check references, conduct interviews, check out our website article on Selecting an Agent
2. Don’t overprice!
“Yes, you know what you paid for the house. But that doesn’t mean that it’s still worth that amount—or that it’s appreciated in value since you bought it. Your house is only worth what the market says it is worth. What is inside does not matter, and neither does your mortgage amount.
If you have a bunch of, what you consider, high end upgrade, but you are the only home in the area with them, you may not recuperate that investment.
If other properties’ kitchens in the neighborhood don’t have similar upgrades, buyers aren’t expecting a major update in yours, and probably won’t want to pay the extra. It really is all about location!”
Realtors have their eyes on the market and should be experts in their areas market values. Pricing your home too high will discourage interested parties from making an offer, and your property could sit for months!”
Leonard Real Estate Group suggests: Get a Comparative Market Analysis (CMA) from a Realtor and USE that information! Contact us for a Free Cma Charlie@leonardrealestategroup.com, or Charlie (305) 726-8416, Sean (784) 205-0187. Check out a Sample CMA
Setting the right price is important, chances are your buyer will come from the first wave of people viewing your home. If you overprice, your house sits on the market and becomes stale, without too many return visitors. You may very well be left waiting by the phone.
Dropping your price later may bring a new wave, but it indicates your level of interest in selling and may hurt your leverage in negotiating.
3. Don’t skip the marketing.
“You may think that all you have to do is take a few pictures of the house and stick a For Sale sign in your yard and the buyers will start to notice you. NOPE!
The HUGE majority of houses are bought by people working with Realtors which have found the home on the MLS.”
Leonard Real Estate Group suggests: Contact us and we’ll tell you all the ways we will market your home. Charlie@leonardrealestategroup.com, or Charlie (305) 726-8416, Sean (784) 205-0187.
4. Don’t leave pending projects.
“If sellers walk through your house and spot a handful of items that need immediate repair, they’re going to wonder how well you’ve maintained the things they can’t see. “
Leonard Real Estate Group suggests: Spend a few weekends dealing with all of those projects you’ve been meaning to tackle, and get your home in show-worthy shape. Also don’t underestimate curb appeal. First impressions set a prospective buyer’s expectations before they even walk through the front door. Check out Home Improvements: Under $100
5. Don’t get emotionally involved.
“Yes, it’s your house. Yes, you sweated blood and tears to get it just the way you wanted it. But, no, that does not make it someone else’s idea of perfect.
You want the space to look as neutral as possible, so buyers can envision themselves in the space. Let go of the features you love, and make it a house most people could love—and that might mean painting all of the walls a soft, neutral color. “
Leonard Real Estate Group suggests: It’s still a buyer’s market in most of the U.S., and the bidding wars are long gone. Get a storage unit if necessary. Clean everything out the basement, the attic, and the top shelves of every closest that you won’t need in the next two months. 3 Things You Must Do to Position Your House as a Buyers’ #1 Choice
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