6 Best Tips on How To Sell Your Home Faster

We don’t know what will happen in 2008, but to date some Real Estate markets, both here and south of the border have stalled, if not declined. But still, owners are looking to maximize profits. What to do? If you’re a seller, here are a number of steps you can take to make sure your home has the best chance for a top price and a quick sale.

Know Your Marketplace.  

It’s not good enough to know the sale prices in your neighbourhood, they frequently don’t tell the whole story. You also need to look at expired and terminated listings, these listings will give you information on homes that have stayed on the market far too long and the possible reasons why.

Reduce Deposit Requirements

To make a contract work there’s a need for a buyer deposit, the “consideration” necessary to bind a deal. If you’re the seller you want the largest possible deposit, but if you’re in a slower market you may want to settle for less. Buyers want the smallest deposit possible, avoiding tying up larger amounts money with little or no return on their funds.

Throw in Stuff

Do you really want to take the swing set or a washer/dryer with you? In some cases it may be best to “reluctantly” part with such items in order to entice an offer.

Update MLS Photos

If it’s June and your listing photos show a home with 4 feet of snow in the front yard, buyers can guess that the property has been for sale some time — meaning the price and terms are flexible. Perhaps more “flexible” than you would like. Have your agent post newer photos, and lots of them.

Visit Open Houses

It’s always good to visit open houses or, as they are sometimes called, the competition. It’s not easy to be objective, but is there something other owners have done that might work for your property? Maybe re-painting the kitchen or brightening up the basement.

Keep Things in Perspective

It’s silly to worry about small costs and concessions when the goal is to sell your home.  A buyer may ask for an extra $500 to resolve a concern just before closing.  What happens if the market slows and prices soften?  Would it not be cheaper to “lose” the $500 than to find another buyer a few weeks or months later when the market may be tougher and your final sale price could be thousands of dollars less?   Something to think about.

**Nothing on this website should be confused with financial or legal advice. If you need this, or any other type of advice, please seek the help of a competent professional. In addition, because real estate laws change all the time and differ from state to state, and even city to city in the same state, everything in these pages should be considered general marketing advice and ideas. Please see link to full Disclaimer at the bottom of this page.

Avoid These Mistakes When Selling Your Home

Are you ready to sell your home? If you are and you’re not careful, there are a number of potholes that could slow you down.  Individually or collectively they could prove to be very costly. Here are a few to watch for.

Pricing Your Home Incorrectly

Every seller wants as much money as possible when they sell their home. But listing too high will often get the seller less than market value. If your house is not priced competitively, people looking in your price range will disregard your home in favour of larger homes in the same price range. At the same time, people who should be looking at your home won’t see it because it is above their price range!

Overpricing typically increases time on the market and adds to your overall costs! Overpriced homes become stale and generally sell below market value.

Failing To “Showcase” Your Home

Buyers look for homes, not houses, and they buy the home they can see themselves living in. Owners who do not make the necessary repairs, who don’t spruce up their home inside and out, touch up the paint and landscaping, and keep it neat and clean, chase buyers away faster than agents can bring them.

If you were selling a car, you would wash it, maybe even detail it to get the highest possible price. Houses are no different.

Are Newspaper Ads & A For Sale Sign Enough Marketing?

The two most obvious marketing tools, open houses and newspaper ads, are only moderately effective as a means of selling your home. Surprisingly, less than 1% of homes are sold at an open house, agents generally use open houses to attract future prospects, not to sell the house!

Advertising studies show that less than 3% of buyers purchased their home because they called on an ad. Statistics also show that 80% of buyers start their home search on the internet.  You need to choose an agent that is technological and internet savvy to attract and capitalize on these buyers.

**Nothing on this website should be confused with financial or legal advice. If you need this, or any other type of advice, please seek the help of a competent professional. In addition, because real estate laws change all the time and differ from state to state, and even city to city in the same state, everything in these pages should be considered general marketing advice and ideas. Please see link to full Disclaimer at the bottom of this page.

What’s Your Home Worth In Today’s Market

It’s unfortunate, but many sellers fall into the trap of setting the price of their home based on some of these common misconceptions:

“I bought my home for XX dollars, it must be worth more now”

Fact is, markets change. Your home may be much worth more or much less, than when you bought it.

“But we made so many improvements” – Wrong!

Some homes depending on size or neighbourhood are over-improved. Many improvements add value, while others are a matter of style or taste.

“It would take this much money just to replace it and get my investment out of it” – Not quite.

Replacement cost is not a valid measure of existing property value, just as a used car isn’t worth the same as a new one, no matter how well it as been maintained.

“I need this much for my home”

The market is only concerned with what your home is worth now, not how much you need to get for your property to break even.

“I just had a refinancing appraisal done”

Many lenders will appraise your home higher than what your home may sell for in order to lend you more money, i.e. if you need additional money for personal needs. The truth is your home is only worth what someone else is willing to pay for it.

The first step in pricing your home right is getting a CMA (Comparative Market Evaluation.)

This is a comparison of other properties that have sold in your area, comparing size, age, condition, and other variables of your home. The CMA will also show the listed and sale prices of these properties. Click Here for more info on a CMA for your home.

**Nothing on this website should be confused with financial or legal advice. If you need this, or any other type of advice, please seek the help of a competent professional. In addition, because real estate laws change all the time and differ from state to state, and even city to city in the same state, everything in these pages should be considered general marketing advice and ideas. Please see link to full Disclaimer at the bottom of this page.

Why Should You Sign A Buyer’s Agreement?

Your Interests Are Professionally Represented

Enlisting the services of a professional Buyer’s Agent is similar to using an accountant to help you with your taxes, a doctor to help you with your health care, or a mechanic to help you with your car.  If you had the time to devote to learning everything about accounting, medicine, and automotive mechanics, you could do these services yourself.  But who has the time?  This is why you allow other professionals to help you in their specific areas of expertise.

We will take care of the hassles of your real estate transaction.  We let you concentrate on your full-time job, while we do our job.  We will guide you through the home-buying process and exclusively represent your interests as we help you find a home, present and negotiate your offer, then close on your home!

You Get A Personal Specialist Who Knows Your Needs

Just as your accountant, doctor, and mechanic understand your specific needs, your Buyer’s Agent gets to know your real estate needs and concerns.  This type of relationship is built through open communication at all times.  Your Agent will save you time by providing details about a home before you see it.  In addition, your Agent will listen to your feedback and concerns about each home you see.

You Will Quickly and Conveniently Get A Great Home

The advantage to signing a Buyer’s Agency Agreement is that you will have a professional agent working to find and secure the ideal home for you.  It is next impossible to find a home that meets your needs, get a contract negotiated, and close the transaction without an experienced agent.  You won’t need to spend endless evenings and weekends driving around looking for homes or searching the internet by yourself.  When you see homes with your Agent, you will already know that the homes meet your criteria and are within your price range.

What Is The Buyer’s Agency Agreement

Entering into a Buyer’s Agency Agreement has countless advantages.  When you sign the agreement, you are simply agreeing to “hire” a personal representative who, by law, must represent your best interests to the best of his or her ability.  All of this personal service is available at absolutely NO COST TO YOU!  The Seller’s Agent is responsible for paying your Buyer’s Agent fee.  You get a professional agent devoted to protecting your needs and helping you make one of the most important investment decisions of your life — and you don’t pay the fee

**Nothing on this website should be confused with financial or legal advice. If you need this, or any other type of advice, please seek the help of a competent professional. In addition, because real estate laws change all the time and differ from state to state, and even city to city in the same state, everything in these pages should be considered general marketing advice and ideas. Please see link to full Disclaimer at the bottom of this page.