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Selling your home in Today's Real Estate market requires extra attention to details and understanding what the buyer wants and where the buyer is searching for their next home.
Know what the buyers want ~
First and foremost buyers want to make a good investment. They want a sound home that does not have problems. Sure there are buyers looking to put their personal touch on a home by updating an outdated home, and even a few who are willing to take on a fixer. But the largest buyer segment today is looking to buy a well maintained home, that is move-in ready, and free of drips, leaks or deterioration.
Sellers, whether you have lived in your home for 2 years or 40 years, or have a rental that has reached your investment goal, the simple fact that a home that is market ready, meaning the buyer can “move in” at closing, is going to sell at the maximum market value. Next to price, it really is a beauty contest!
Know what is selling and why ~
Working with buyers is paramont to guiding sellers. If an agent only works the list side of real estate transactions, they have limited understanding of the buyer today. Clean, uncluttered, well maintained homes are the first to contract. These are homes that have been prepared for the market: depersonalized, neutral colors, natural light, and flowing floor plans that allow the buyer to visually move in.
The way you live in your home is different than the way it is prepared for buyers and their agents. By working closely with my sellers, we find ways to highlight your home's features, and market in the broadest market. Our plan is put into place BEFORE your home ever has a single showing.
Where are the buyers looking for homes ~
Home Buyers search listings on the net ~ In the real estate market today, buyers jump from one site to the next in search of what they are looking for in a home or advice. We want to have YOUR HOME on these sites.
Why do home buyers look at so many web sites?
Each site is targeted to varying consumers, based on the consumers' preferences, search style and information. New sites are always just around the corner. You can count on us to make sure that if consumers are looking, we will have our listings posted there. There are new sites popping up and our listings will be there as well.
     
Why do Sellers need to understand current financing?
Price range determines financing options and target buyer for your home. By just turning on the radio or TV we understand the critical financial state of the mortgage industry, but we must take it a step further to understand why the buyer make the offer on certain homes and not others. 100% financing is scarce, FHA has increased to 3.5% down, and most down payment requirements leave most buyers with no cash to put into the home right after closing. Again, preparing a home is critical, even if it is a short sale.
Preparing your home ~
Many list agents will suggest to the seller some minor cosmetic changes and a few times that may be all it needs. The agent wants that listing, does not want to insult the seller by too many suggestions and the agent wants to quickly put the home on the market.
Minimal preparation is correcting any signs of visible wear and tear. To move your home to the top of the list, consider a full home inspection. Once in contract the buyer is going to have one. Wouldn't you like to know of any potential problems before you set the price of your home?
Consider this scenario ~
- Offer is received and accepted.
- Next is the buyer's home inspection with a detailed report of the condition of your home.
- The buyer and their agent consult about what repairs are necessary.
Every real estate professional has had a transaction fall apart over a few needed repairs. As a seller, you feel you have given your best price, and the buyer now feels the home is overpriced based on needed repairs. Many times at this point, the home falls out of escrow.
Sellers, buyers and sgents need to start over - No Win/Win here!
Eliminate potential problems ~
Here’s how:
- In order to fully understand the condition of your property we will start with a complete inspection from a licensed home inspector.
- Together we will review the inspectors report and determine what items should be repaired.
- Repairs are scheduled. Some may be minor such as a dripping faucet or a tub in need of new caulking; some may be maintenance items like a furnace tune up or chimney cleaning.
Your home is now ready, and we have the inspector’s report and documented our list of performed repairs, thus eliminating the nightmare of repair issues and addenda. Plus we have covered all the hot-spot issues that would be top of the list for any buyer’s inspection. This simple guide will strengthen the selling position of you home.
Setting the Selling Price for your home ~
We have inspected, repaired, cleaned and prepared your home for sale. Now we need to set the price. As a seller, you want to get top dollar for your home, but by setting an artificially high price may cause your property to sit on the market week after week. Thinking a buyer will submit a “lowball” offer to get things started, may not happen in todays market. Reducing your asking price later may lead buyers to wonder if it will go lower still or something may be wrong with your home.
Set the price right from the start. There are basic factors that will determine the pricing of your home.
- Location, Location, Location
- Economic conditions/Seasonal influences of your community
- Local housing market – Supply of homes vs Demand
- Local Schools
- Average price of homes in your neighborhood
- Your homes amenities; fireplace, central air, etc.
Finally and most important is what the buyer is willing to pay. Short sales, REOs and motivated sellers are your competition. Understanding the buyer and being prepared for the competition will ensure your home is on the top of the list. Homes that are well maintained, well priced, and well marketed will be the first to contract.
Let's sit down and discuss your selling needs. I would welcome the opportunity to earn your business.
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