Monday, August 18, 2008

GET IT SOLD

1. The First Offer is Often the Best Offer. There’s a reason this is a real estate cliché. If you get an offer in todays market, MAKE IT WORK. Don't let that buyer go to their 2nd choice, which, don't kid yourself they do have and they most likely have a 3rd and a 4th choice that they can see themselves living in just as nicely as your home.

2. Be Realistic About Price. If a Realtor shows you what houses have sold for in your area don't add $10,000 to it because you just painted. If other homes with the same general characteristics sold for a price that means yours will too! So don't risk it! If you truely want to sell price is the key.

3. Listen to the Experts. When you ask an Realtor to come list your home you are asking for their advice. TAKE IT. When they tell you that you can list your home for $500,000 then list it at $500,000. They have the proof. They have the knowledge. Don't then add $50,000 to that price for "negotiating room". BUYERS CANT NEGOTIATE WHAT THEY CANT SEE and if I was there buyers agent I wouldn't show them a house I knew was $50,000 OVERPRICED.
When the agent gives you a list of items to repair before the house goes up for sale, fix them.
Do it before the first person sets foot in that door. The first handfull of buyers will be your best. Don't let them see your home in anything but prestine condition.

4. Beware of Getting Stale. Once the houses has been on the market for 6 months make a change. You/your realtor should be contantly re-evaluating the listing. Homeowners sometimes try to get around this problem by allowing a listing to lapse, then relisting the house to start the clock again. The multiple listing service’s computer will classify it as a new listing-but real estate agents who know the area will usually recognize that it’s the same old house, warned Randy Douglass of ERA Douglass Realtors in Montvale, N.J.
“You’re not going to fool a lot of people,” Douglass said. Better to avoid getting stale in the first place. To do that, you have to-you guessed it-price it right. “It’s all about the price,” Douglass said.

5. Go For the Pottery Barn Look. Buyers want what they see on HGTV. They want tile instead of vinyl and granite instead of laminte countertops. This doesn't mean you MUST have granite to sell your home. It just means that you need to do it ALL. Declutter, CLEAN CLEAN CLEAN, update accesories, replace hardware, paint nuetrals, and replace light switches and covers. I garantee it's the simple things that will sell your home quicker.

6. Understand Buyer Psychology. I hear sellers say time and time again "That buyer is so greedy." When in fact what is going on is buyers are scared to death. They are scared the value of the house will drop the second they get the keys, they are scared they will never be able to sell, and they are nervous about buying in general. They are not going to make the move unless the house is exactly what they are looking for and unless they know that it's the best "deal" on the market. In short terms, THEY WANT A DEAL.

7. Don’t Expect Buyers to Renovate- If you make the comment "it needs some work but it's in pretty good condition" or "If someone wants a new house they should be new construct" then you already know what you need to do. SO DO IT. There are some people who are "do-it-yourselfers" BUT VERY FEW. Don't limit your prospects! You want to make your home appeal to as many people as possible.

8. Play to Your Home’s Strengths- If your home is near a busy road, that could be a downside for most sellers... however the good news is there is a lot of drive by traffic. Play it up. That curb appeal better be UNBELIEVABLE.

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