Pricing Your Home To Sell
For The Most Money Possible In The Shortest Time Frame
By Tracy Tkac
Evers & Co.
The single most important factor to consider when selling a house is pricing the house correctly; it’s choosing the right list price: how much your house is worth. Over pricing the house will cause it to sit on the market and lose the freshness of the home’s appeal after the first two to three weeks of showings. After a month on the market, demand and interest can wane and after that a listing can become stale to potential buyers. It is a tough concept, because no one wants to chance leaving money on the table, but pricing the home just below fair market value will often cause a seller to receive multiple offers, which will then drive up the price to market price or above. Pricing is all about supply and demand. It’s part art and part science. Beware of the realtor that advises a list price way above the range of sold home prices in your neighborhood, choosing to list with that agent may be setting you up for the delay or even failure to sell your home.
Pricing your home to sell may not be as simple as you think. Looking at what similar homes in your immediate neighborhood that have sold for in the past 6 months to a year will give you some, but not all of the data you will need to calculate the list price. It is important to compare apples to apples when looking at the comparable recently sold homes. Compare and consider not just how many bedrooms or bathrooms, but also is the basement finished, is the yard nicely landscaped, how many garage spaces are offered? Look at homes’ sizes (square feet), style, condition and if updates and renovations have been done. A good real estate professional will format all of the information for you and help you to make the comparisons to come to the right listing price that will get you the most money possible for your home sale.
Using a real estate professional can save you money in the end by helping in pricing your home to sell quickly and for the best sale price. A good agent will assess what improvements should be made prior to putting your house on the market. Many times the first step is to de-clutter; when selling your home, the less-is-more concept is the way to go. Your agent should be honest and direct in telling you what needs painting and repair or replacing before making your listing “active on the market”. You only have one chance to make a good impression, and that goes for the list price and your homes presentation.
If you’ve lived happily in your home for years, it can be difficult to detach yourself from cherished memories and look at your house as a commodity you’re attempting to sell.
But no matter how much you love your home, you’ll need to spruce it up before it hits the market.
For a smooth transaction that garners the most possible profit from your sale, avoid these eight common, and costly, home seller mistakes.
- Skipping a home inspection. Depending on the age of your home, scheduling a pre-listing home inspection could save you a lot of time and aggravation. You can address issues on your own time and budget before negotiating with a buyer to fix problems.
- Skimping on your sales prep. While you may be tempted to “test the waters” and put your home on the market without painting it or making minor repairs, your home is likely to languish on the market and get a reputation for having a major problem. A thorough,professional-level cleaning should be your bare minimum seller prep. Your eventual sales price is likely to be lower if you don’t sell within the first few weeks after you list your home.
- Choosing the wrong REALTOR®. Instead of picking a REALTOR® who’s a friend of a friend, a relative or perhaps someone who’s great at working with buyers, take the time to pick a REALTOR®with an excellent reputation for listing homes. Your payoff will be much larger if you list your home with a REALTOR® with local market knowledge and sales expertise.
- Neglecting to ramp up your curb appeal. If you polish and primp inside your home but neglect to pull weeds or paint your front door, you run the risk of potential buyers leaving without ever entering your home.
- Withholding information from buyers. If you hope that the buyers or their inspectorwon’t find out about the leak under your bathroom sink or the fact that your basement gets flooded every winter, you run the risk of a nasty negotiating period—or worse, a lawsuit after the settlement.
- Overpricing your home. If you’ve hired the right REALTOR®, someone who can give you a strong market analysis and help you determine a reasonable price for your home, then you can avoid overpricing your home. If you don’t listen to a REALTOR® and base your listing price on an inflated view of your home’s value, you’re likely to end up selling after multiple price drops for less than you would have if you priced it right the first time.
- Being unprepared for your next step. Whether you should buy your next home or sell your current home first is only one part of the preparation you need to make to move. You need a back-up plan in case your transaction on either end takes longer or shorter than you think, and you need to understand your mortgage payoff and the closing costs you must pay.
- Letting your pets and kids spoil a sale. Part of your emotional detachment from your home is recognizing that while you love Fluffy and your darling twins, buyers want to visualize themselves and their own family in your home. Bribe your kids if you have to, but make sure the house is neat and as neutral-looking and smelling as possible. Take the kids and your pets out (or lock up your pets) when prospective buyers are visiting: You never know if someone who is terrified of dogs or cats will be turned off from making an offer because of your adorable pet.
Selling a home can be challenging, but with the help of a reliable REALTOR®, you can avoid making mistakes and reap the rewards of your sale.
Strategic Marketing – Internet Marketing for Sellers
by Lindy Gelb
Washington Homes Group
Research tells us that 92% of buyers are on the internet searching for their next home even if they are working with an agent. They are sending a list to their agent of the homes they would like to see in person. We cast a very wide net to not only reach all potential buyers on all the top websites, but to generate our own buyers. Internet marketing for sellers is a very important aspect of selling your home in todays market.
Your home will be widely advertised on the Internet as well as print publications. Listings will automatically appear on the following sites:
www.eversco.com Our Company website
www.washingtonpost.com All open houses will be listed on this site
Backpage classified ad syndication for real estate. Your property will be on the following sites;
Facebook Fan Page, we have hundreds of fans who will see your home when it is listed.
Our marketing includes outstanding descriptions of your home, professional grade photographs and a true panoramic virtual tour that we upload as a video to YouTube, full color fact sheets and more.