"Erin & Jaime went the extra mile when the closing looked like it would not go through. They got on the phone and made calls to keep things moving. I’ve never worked with agents that were so willing to do whatever it takes to get the job done. Thanks!"
- Ron & Kim Baxter
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SELLER TIPS
TEN TIPS FOR SELLING YOUR HOUSE
One of the biggest mistakes people make when selling a house, is not
understanding real estate value. It doesn't matter at all what you think
your home is worth. The value of your home, and any improvements you
made, is determined by buyers. What you enjoyed about your house is
irrelevant when it's time to sell it. Think in terms of what other
people want, and use some of the following tips.
House Selling Tips
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Know your market. Find out what other similar houses have sold
for, and have those examples ready to show potential buyers.
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Decide on your minimum price - the price below which you will
just not move. Don't tell your agent what this minimum is, but
work with any buyers who make an offer above it.
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Clean the most visible things first. Buy a new mailbox, perhaps.
If buyers fall in love with the house before they even enter it,
they'll forgive a lot of problems.
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Clean up the neighborhood. If there's a neighbor who's yard is a
mess, give their kids $10 to pick up the yard. Spend another $20 to
put flowers in any common-areas, and buyers will have a better
first impression of the neighborhood.
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If you or your agent aren't getting many calls, find out why. Is
more advertising necessary, or is the price too high? Drop it fast,
if price is the problem.
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Listen to comments of prospects. They will be more objective than
you. If you hear several times that the kitchen is dark, get out
the white paint.
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Find out what the average sales time is in your area. If your house
is taking longer than average to sell, there is a problem. Usually
it's price.
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Be sure to ask your real estate agent what they plan to do - before
you sign a listing agreement. Write down what he says, and hold him
to his promises.
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If there are any known problems, such as an old roof, get an
estimate for repairs. The sellers may want a $7,000 allowance for
a new roof - until you show them your $4,000 estimate.
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Do any improvements that can realisically get you at least a
two-to-one return on investment. If $300 to seal the driveway is
likely to add $600 to the sales price of the home, do it. Consider
first those things that are most visible.
There are dozens of things you can do to sell your house faster, and get
a better price. If you don't have time to do them all, start with the
ones that will get the most "bang for your buck."
- Steven Gillman, Tucson, AZ
SELLING YOUR OWN HOME: 10 MORE TIPS
Selling your own home can be a time-consuming and frustrating process.
Sometimes, though, in the right market, it makes sense to save thousands
of dollars in commission and do it yourself. If you've decided to give
it a try, use the tips here to do it right, and to avoid common FSBO
(for sale by owner) mistakes.
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Understand value. It isn't what you think your house is worth,
and it doesn't even matter how much you put into it. It is only
what it's worth to potential buyers. Find out what they have paid
for other similar homes before you decide on a price.
-
Be objective. This is a difficult one. You may want to get your
most honest and outspoken friend to walk through the house with
you. He'll see problems you didn't know were problems.
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Have a plan. What will the kids or wife say to those who call?
Where will you be closing? Will you have documents prepared by an
attorney? A plan will help it all go smoother.
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Make a list. What needs to be fixed, cleaned, changed, or removed?
Do the most obvious things first.
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Be a prepared salesman. List every question a buyer might have,
and be ready with an answer. Have comparison sheets showing other
home sales, so buyers can see the value. Have a map showing where
nearby stores and libraries, etc. are.
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Sell benefits. Don't say "near stores." Say "You can walk to the
store in five minutes." Don't say "garage." Say "No chipping ice
off the windshield in the morning."
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Have all important information in ads. Square feet, number of
bedrooms and bathrooms, address, telephone number, and price.
Leaving out the price means some buyers just won't call, and you'll
waste time with others who shouldn't be calling.
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Listen to buyers. The biggest mistake sellers make talking to
buyers is to get defensive about their home. Listen to criticisms,
and resolve them or ask how important the issue is to the buyer.
In other words, learn a little about selling.
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Be careful with the sales agreement. Be sure that it is understood
by both sides. What happens, and when? What if the buyer doesn't
get their financing? What's included in the sale? When will the
buyer take possesion? Who pays the closing fee?
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Make closing easy. Have the documents all ready to sign. Be
prepared with answers to likely questions. This is likely the
largest financial transaction in your buyer's life. Make him
comfortable.
There is a lot more to selling your own home than can be covered in ten
tips, of course. Use these however, and you'll be doing better than the
average FSBO seller.
- Steven Gillman, Tucson, AZ
About The Author
Steve Gillman has invested real estate for years. To learn more, and to
see a photo of a beautiful house he and his wife bought for $17,500,
visit http://www.HousesUnderFiftyThousand.com
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