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Selling Your Home In A Difficult Market – 1

How do you sell when competition is high and equity is low?

If you are a home owner and you need to sell, you are no doubt aware that the competition is fierce. Your reasons for selling will likely dictate the level of aggression that you put into marketing it, but here are some things you need to know to separate yourself from the pack.

Get ready to sell

Getting ready to sell your home can come in many forms. You need to have your home clean and tidy for buyers to view it. You need to make sure that the front yard is presentable and inviting. This is called curb appeal, and if buyers don’t even want to get out of the car, it will be hard to sell them your home.

Getting ready to sell is also a state of mind. You have to think like a seller, and picture your home the way that a buyer would. This can mean several things but here are the most important ones:

De-personalize your home

De-personalizing means to make your home look more like a model home and less like someone is currently living there. If you have lots of pictures on the mantle and knickknacks everywhere, go ahead and box them up (consider this as part of preparing to move since you will have to box it up anyway). The more clutter you have, the smaller the house will feel, and buyers are looking for space.

The cheer leading trophies and spelling bee awards are a tremendous source of pride to you and your family, but buyers don’t care. As a matter of fact, it may be a turn off.

Make Minor Fixes

If you have a hole in the drywall where the door knob hits it, take a little time to get some drywall patch at Lowes or Home Depot. It is not a big job, and depending on the size of the hole, it is a relatively easy fix.

Make sure all light bulbs work, and fix the ones that don’t. Make sure that there are no leaky faucets, and fix them if there are.

Check back on the next post for additional tips, and how to choose the right Realtor.

How Do You Choose The Right Realtor?

How Do I choose the right realtor?

Choosing the right realtor

I am not the first person to write about this, and will most certainly not be the last. Here are some simple things to look for.

We are in historic and interesting times in the real estate business. There are more choices, and at better prices for buyers than have existed for decades. This creates a problem whether you are a buyer or a seller as to who you choose to help you in the process. For buyers, the first thing you should know is that you need your own “Buyer’s Agent”. This is important for 2 reasons: 1) the agent that has the home listed represents the seller, and the seller is their primary responsibility, and 2) the seller pays the fee for both Realtors whether you get one yourself, or use theirs.

For sellers, the chore is more daunting. Finding a real estate professional is the most important part of selling your home. If you get the right one, they could potentially have it sold for you in weeks. And, if you get the wrong one, you might go into foreclosure without ever even getting an offer. As a seller, the relationship between you and your agent is complex, but it must be open minded to work. If you are unrealistic about the price or willingness to negotiate, you will not sell your home. If your agent is so hungry that they will tell you whatever you want to hear, rather than stick to hard market data, you also will not sell your home. Take a look at a few simple suggestions for choosing the right agent for your situation.

  • First, steer clear of the inexperienced agent. You may have a brother-in-law that is an auto mechanic, but just got his real estate license, and you feel more comfortable dealing with family. As you prepare to sell the largest asset that you and your family own, you need a professional in the same way that you would not go to a family practitioner to get open heart surgery.
  • Find someone who knows your neighborhood better than anyone. There’s an old saying in real estate that is “Live where you sell, and sell where you live”. If you find the “super agent” in the Sunday paper, but he lives 40 minutes away from your home, you will be dissatisfied with his service regardless how many awards he has.
  • Be open minded about the price, and decide if you want to “list” the property, or if you want to “sell” the property. The typical home owner may ask “what’s the difference?”, and someone in the business knows exactly what I am talking about. If you look at the comparable sales that have taken place for similar homes in your immediate area, and you are priced 20% above them because you refuse to accept less than “X” for your home, then you are wasting everyone’s time, including your own. You don’t dictate the price, the market does, and if the market is not in the right place for you right now, you need to either change your mind about selling, or change your mind about needs and wants on the price.

There is a lot more to selling your home than these simple pointers. But, the most important thing you need to take away from this article is to trust your Realtor and his(her) judgment. If you don’t….you have the wrong Realtor.