Important Tips for a Successful Sale

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Help Ensure Success When Selling

 *Price Competitively

An agent can do a Comparative Market Analysis (CMA) to determine the correct list price for your property based on recent sales in your area. The properties should have similar criteria and be in similar shape. Pricing a home competitively from the beginning (instead of starting higher and having to adjust the price later) will create a buzz from prospective buyers and may lead to a quicker sale for a higher dollar amount.

 *Do Repairs Before Listing

It is always better to make repairs prior to listing a property rather than waiting to see if a buyer makes a request as a result of their home inspection. Sellers will almost always leave money on the table if they let a buyer determine how much less to offer on a home based on repairs that need to be made. You wouldn’t pay $5000 to replace some old trim & repaint scuffed walls. But a buyer will calculate the cost of repairs at a much higher rate and proceed to take it off the top when making an offer. When determining which repairs to make, it is good to fix anything where health and safety would be an issue. And, small    repairs can go a long way towards giving your home the finishing touches that impress a buyer. Some examples are: new switch plate covers, new doors, and  new light fixtures.

 *Staging

Buyers have a hard time with cluttered and cramped houses; they become too overwhelmed with the “stuff” and cannot see the size of the rooms or the architectural features. They also have difficulty with empty houses because they don’t show furniture placement and the starkness doesn’t give a warm and inviting feeling. Staging creates a visually appealing room that allows a prospective buyer to envision themselves in the home and to better see it’s potential. There are different degrees of staging and depending on your home you may need more or less. For some it means removing most of the contents of the house– storing furniture and personal affects– to create more space and allow the buyer to see the rooms. If the house is empty, it is a good idea to add in some furniture such as a dining table or chairs and rugs. According to CRS Magazine 67% of seller’s agents believe that staging homes increases the dollar value a buyer is willing to offer.

 *Give Buyers Privacy

It is best to stay away during showings and open houses. Buyer’s like to have privacy to view a home with their Realtor. They may feel uncomfortable about asking questions or making comments with a seller present. It is also a good idea for a seller to have limited contact with a prospective buyer to ensure that they don’t say anything that will compromise their   negotiating power. If a seller reveals anything about their motivations, a buyer can use this when writing an offer and negotiating a deal.  And because the seller is more emotionally invested in the transaction it’s best to leave the communication to the Realtor.

 *Open Mindedness

While a Realtor can help anticipate potential problems that may arise in a sale, they cannot predict everything. A real estate transaction is a very complicated process involving many different parties– buyer, seller, usually 2 Realtors, lawyers, mortgage lender. The real estate market can shift with no warning and buyers and sellers may need to shift with it.  Also, if an offer comes in on your home that is not what you’d hoped for, it’s always best to consider all terms of the offer and make a counter offer instead of turning it down completely. You never know what the other party is willing to agree to.

 

 

 

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