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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 |
