Tips, Tricks & Tidbits
Get the Most From Your Sale
Upgrades & Updates - What Buyers Are Expecting to See -
The expectations of a buyer when previewing a home are often influenced by what they have to compare it to. The current trend of solid kitchen countertops at certain home price levels are a good example. If for instance three homes they've viewed had granite counters and the forth did not they likely would perceive the forth home to have less value. Or perhaps alternatively consider the addition of solid counters a future expense.
With this in mind we see great opportunity for additional sale profits. Knowing with certainty what items within your property boundaries to repair, replace, update or upgrade (or not) can return your investment many fold. But guessing what to do or following middling advice can be costly. Don't gamble on lesser experience for advice.
Knowledge of buyer trend expectations, and remodel/repair cost analysis are a must if you wish to take full advantage. Finding a professional with that combination of skill sets may prove challenging however diligence when interviewing for a competent agent may land you just such a person.
Because this opportunity has so much potential to boost net sale profits our customers will have ready access to this service. We will waive the standard fee of $450.00 and provide it at no charge.
Pre-Market Your Home
Have you ever seen a For-Sale sign that also says 'Coming soon'? It's rare to see and a missed opportunity for the home seller that never had one. The 'Coming Soon' statement is an indication of a pre-marketing plan in action. By announcing your home will be coming on the market soon you can actually line up potential Buyers prior to listing. If your agent seizes the opportunity and knows how to take full advantage of this short 'pre-marketing' period it's possible to do two very important things: 1) Procure a Buyer the first week of your listing. 2) Sell your home at or above current market value.
You see, Buyers too want little competition. They prefer being the first to offer in hopes of getting a home without the price being run up by other Buyers. This helps to create additional motivation and emotional investment. The worst that can happen is getting your asking price within days. The best case scenario; multiple Buyers vying for the same early bird position potentially running the price up. As an added bonus you, as the Seller, have a better opportunity to select a 'best qualified' Buyer.
Showcase Unique & Appealing Qualities
The qualities referred to herein are those likely to display value to a perspective buyer. Attribute's found to have been convenient or economical during your time in the home. Some examples are: a walk-in pantry, his & hers master closets, added garage storage, attic storage, energy efficient items, jetted tub, paid for solar system… You get the idea, write yourself a list.
Next comes the important step. Creatively bringing them to the attention of all potential buyers. Let their imagination do the selling. Perhaps laminated 3x5 cards used to highlight the less noticeable, sweet food fragrances in a pantry, a copy of the yearend true-up bill utility bill enlarged on display? There are many ways to draw attention to your homes' amenities. Make sure they don't go unnoticed.
Don't Let Profits Slip Away
There are many creative ways to increase your net profit upon sale. Examples are scattered throughout this site. But consider with equal measure the importance of your convenience and safety, also addressed.
Your greatest chance in finding this profit/ease/protection combination will be hiring a stellar agent/broker combination to represent you. Approximately 65% of home sellers nationally hire the first agent they meet with. That says little for the amount of time spent being selective. What a shame, so much a stake and such disregard for the possibilities good or bad.
Interviewing for agent representation is imperative but having the wherewithal to do it comfortably and competently can be difficult for many homeowners. Our aim is to make it painless and simple. Look to our 'Agent Interview' (downloadable). It not only guides you through essential questions that should be asked but explains what answers you should be listening for. If your interviewee can satisfactorily answer all questions without hesitation chances are… you've got a winner!
Listing With An Agent's Broker
- An Extremely Important Fact -
Know that your listing agreement is a legally binding contract. The contract is between you and your agent's Broker. Not you and the agent. If at any time during the listing period your agent doesn't live up to promises made or your expectations, without a written guarantee, you cannot simply walk away in search of a more responsible agent. You are still legally obligated by the listing contract and its terms. Choose your agent wisely and review the brokerage policies carefully.
Open Houses - Good or Bad?
They sound like a great idea. Open Houses expose your home to lots of folks at one time. A time savings right? But how many actual interested Buyers are in that crowd? How do you screen that many people all at once? Truth be told, statistically as a national average only about 1% of homes sell because of an open house. But lucky you… not only potential Buyers but your neighbors, tire kickers, competing Sellers and perhaps thieves get to peruse your home and belongings. Consider the open house an optional tool to be used under conditional circumstances.
Offering Buyer Incentives
It's often suggested offering Buyer incentives will allow for a faster sale and a higher sale price. Under certain market conditions this may be true. However, locally this is not a circumstance we will be experiencing for years to come. In fact, offering incentives at this time merely serves to lessen your bottom-line net profit rather than your agent doing a more competent job. Simply put, Buyer incentives, needlessly cost you money. Place the burden of doing exceptional marketing squarely on the back of your selected agent where it belongs.
Any Time Can be a Good Time to Sell
The misconception that spring and summer are the optimum times to sell is just plain false. In fact, listing during the 'off season' can be quite beneficial. Typically there will be much less competition and buyers often are more motivated/serious in their search (less tire kickers). Let's dispel the myth. With the correct marketing approach, any time can be the right time to sell.