Selling Your Home – Part 1

If you are thinking of selling your home, “thinking” is the best place to start.  Do you need to sell right now or is it more of a want?  You may need to move if your job is being relocated or if you have completely outgrown your space.  But that does not necessarily mean you need to sell.  Remember the real estate market is cyclical.  If you can hang on to your home until the market improves you are likely to enjoy a higher rate of return.  So the first thing you should do is to consider your motivations, requirements and alternatives.  If you are going to sell your home in today’s market, you’ll need every advantage you can get.  The following steps should help to start you off on the right foot.

The first step is preparing your home to show/sell.  With buyers, first impressions count.  A small investment in time and money can give your home an edge over other listings in the area and create the stunning first impression you need in a competitive market.  First and foremost, you must remove clutter.  Too much “stuff” in any room will make the room look smaller.  Even your favorite collectibles can take a buyer’s focus off the benefits of the room.  So, if it’s not essential to the room, pack it up or give it away.  Once you have de-cluttered the house, its time to clean.  Shampoo the carpets, clear and clean all surfaces and appliances.  Make sure both the kitchen and bathrooms are sparkling.  Paint touch up inside and out can make a world of difference.  You want your home to look bright and airy so replace all burned out light bulbs and clean the windows.  The lawn and shrubs should be trimmed.  The yard should be free of debris and weeds.  And the front porch and back patio should be well swept and free of cobwebs and leaves.  Remember, potential buyers spend quite a few minutes on the front porch when their Realtor is getting the key out of the lock box.  Look at your front door way and then your entire home from their perspective.

The next step is a big one – now you must determine a pricing strategy.  First there are a few factors you’ll need to take into consideration, the state of the local market, the condition of your home and the sales of comparable homes in the neighborhood.  Your agent can help you with this in a couple of ways: First, by preparing a complete market analysis for you to review together, and second by taking you on a tour of competitive properties.  It can be hard to maintain a non-biased view of your property, so try to put yourself in potential buyer’s shoes as you view the competition.  This should help you to be reasonable about the price you set.  Setting your price at fair market value right off the bat will usually get you the best price in the end.  Those who choose to set their price high at first will often have fewer showings and eventually end up with too many “days on market.”  A high number of “days on market” can be a red flag to potential buyers, fearing that something is wrong with the property.

These first couple of steps should start you off on the right path for a successful sale.  Watch for Selling Your Home – Part 2 with tips for marketing and successful showings!