Rob K. Blake, a mortgage and real estate industry expert, has a few new tips for selling your home called, Real Estate House Selling Tips, also, Is Selling My Home After I Buy Dangerous?, and lastly, Real Estate Help.
It is not good enough to simply stick a sign in the yard and call that “selling your home”. You have to compete with new construction and all the existing homes for sale. And if that wasn’t enough, housing prices are dropping almost everywhere. So, what is the plan?
Good, you are asking the right question. You need to have a plan to sell your house. The most important place to start is the price. If you pick a real estate agent only because they said they could sell your house for the most money…that is the wrong thing to do.
Over pricing your house is a selling technique for most listing agents. It is as old as the day is long. They know if they told you the real value…the price they can actually sell your house for…you would move on to the next agent. Please do not fall for this.
You are treating your home like an old stereo at a garage sale. Overpricing and then dropping the price as negotiations take place is a guarantee you will not get the price you wanted for selling your home….if you sell it at all!
The worst thing you can do is slap an overpriced home up for sale in this market. Most of the traffic you get is in the first week or so and if you got greedy, you will not have anyone even looking at it much less putting in offers. Then the longer your home sits on the market, the more unattractive it is to buyers. To sell it, you have to cut your price much lower than you wanted to go.
If your listing expires because you did overprice, wait 30 days to list it again. It will be like a brand new listing which will attract the new buzz that you want. But for gosh sakes…price it right!
When pricing your home, make sure you look at the comparables your potential agents bring you. A comparable home is very specific and it is how the buyer and their lender determine if the house is worth the selling price.
The comparables must be the same kind of home. If your home is a ranch, you should only look at comparables that are ranches. They should have similar square feet, bathrooms, and bedrooms. And they should also be around the same age, in the same neighborhood, and have sold in the last 6 months. Anything else is not a comparable and should not be used to price your home.
The other most important thing when selling your home is staging. Staging is making your home attractive to buyers and not to you. Right now your home has all the things you enjoy but that is not what prospective buyers want to see.
Staging showcases square feet and any architectural details your home has. The buyer has to come in your home and be able to visualize their things in it not yours. So, if your home has too much of you there, the buyer gets confused. And a confused mind always says…NO!
Once you decide to put your home up for sale then pack up all your personal items like pictures. Mentally disconnect from your home…it is not your home anymore. If you wanted it so much, you would not be selling it…right? Once you do that then staging is easy. If your house is not staged, you will lose out to others that are.
I hope this helps and good luck!
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