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10 Tips For First-Time
Sellers
At first the task seems
daunting: You haven't sold a home before, the market
looks complex, and what worked for owners 10 or 20
years ago seems inappropriate today.
What steps should you
take? Here's a baseline list to get you started.
You Can Do It.
Other owners have done
it and so can you.
Define Your Goal.
Do you want the highest sales price -- or the
biggest check at closing? They're not necessarily the
same. Imagine that two homes sell for $300,000, but
one owner pays 2 points and agrees to replace the
roof. The owner who sold without such costs got a
bigger check at settlement. The bottom line: To have a
successful sale you need to look at both price and
terms -- you must have a strong negotiator in your
corner.
Times Have Changed.
Today's real estate marketplace is radically
different when compared with 10 years ago. Purchasers
now use the Internet, receive seller disclosure forms,
get home inspections, and are routinely represented by
buyer brokers. The result is that buyers can be better
prepared than in the past.
Sparkle And Shine.
Imagine going to a supermarket and seeing dusty
fruit or aisles filled with old shelving and cans. It
doesn't happen because the grocery store knows how to
present its goods. Sellers must do the same. Get rid
of things you don't want to move, organize closets and
storage areas, and clean everywhere.
Mechanics Count.
Buyers expect everything to work. Home inspections
are now entirely common and what buyers miss home
inspectors will catch. Fix and paint things now and
they won't be an issue in the future.
Think Broadway.
When buyers see your home, it's show-time. They
want an environment where they can see themselves.
Give them a show where everything is painted,
arranged, and attractive… a home where the only issue
is when to move in.
How's The Market?
Real estate is local. Your broker can explain current
market trends in your community, including what's
selling, what isn't selling, and why. This information
is central to getting the best possible price and
terms.
Know Your Rivals.
Your property will be competing with other homes for
buyer attention. Ask your broker how to be competitive
-- and how to have an edge.
What Time Is It?
Markets differ by location and time.
When interest rates are low and the local job base is
growing, it's great to be a seller. But when times are
slack and mortgage rates are rising, homes also sell.
In 1981, when the prime rate topped 20 percent and the
population was smaller, 2.4 million existing homes
were sold. The trick is to be realistic, to get as
much as market conditions will allow.
Understand The Plan.
Real estate marketing involves far more than a sign in
the yard and an ad in the paper. Successful brokers
use a variety of methods to attract and qualify
prospects, including the latest Internet and
communication advances.
Article
written by
Peter G. Miller |
