Selling
|
Determining the Value of Your Home |
|||
|
|
|
|
Prepare Your Home to Sell
From enhancing the curbside appeal of your home to decorating, cleaning, and repairing, it's important to improve the marketability of your home when it comes to preparing your home for sale. Simple changes in furniture layout, lighting, decor, odor, and home maintenance can directly affect the amount of an offer and time on the market. The Klapperich team has knowledge and experience you'll need when it comes to preparing your home for sale. For a free consultation and literature on preparing your home for sale, CLICK HERE.
Determining the Value of Your Home
One of the most important and difficult decisions you'll have to make when selling is deciding on the price you're going to ask for the home. Buyers select by comparison shopping, so your home needs to have a fair market price in order for it to sell. The best price to select can vary according to its condition, location, the time of year, interest rates, and other houses for sale in the area. A Klapperich agent will conduct a free Comparative Market Analysis (CMA) on your home. This is the fairest, most accurate way to set the asking price for your home. The analysis will show you what similar homes in your area have recently sold for, and how long the homes were on the market. To request a free market value update on your home, CLICK HERE.
Marketing Your Home
It's important to put forth a successful marketing campaign in order to reach your goals when selling your home. Advertising and promotions must be customized to each property to reach as many buyers as possible. Careful considerations should be made in advertising and in conversations with buyers to minimize liability exposure. The time and energy involved can often be quite consuming, so it's important to adjust your weekly schedule accordingly.
The Klapperich team will expose your home to more buyers, increasing the potential of selling your home quickly and at the best price. Various media such as print advertising, direct mail, signage, Internet, realtor database, television, and specialty marketing pieces can all be customized for your property. To contact one of our agents to discuss how the Klapperich Marketing Program can be tailored to sell your home, CLICK HERE.Real Estate Tips
Cover the Basics
While a good realtor typically recommends the best changes to prepare your home for the market, it's always a good idea to address a few areas of concern. First impressions are crucial, so take a close look at your house and yard from the street and address any areas in need of maintenance and fine tune the lawn and landscaping. Remove extra clutter from all areas of the house and garage. Lighting is important, so utilize windows and lamps where needed. Most importantly, clean the entire house or hire a cleaning service. Cleanliness sells homes!
Buyer's vs. Seller's Market
The type of marketplace has a direct impact on selling your home and affects not only pricing but also how your property should be marketed. A common mistake is to assume a specific area is either one or the other. On the contrary, buyer demand and availability of homes can be quite different from one neighborhood and price range to another. A lack of understanding in regards to your specific home marketplace can make it impossible to properly market your home for the best offer. To request a free, no obligation market study on your home, CLICK HERE.
Leave Premises during Showings
An uncomfortable buyer will never buy. The majority are reluctant to communicate directly with a seller and therefore typically work with realtors. A model marketing campaign is designed to attract all the buyers in the marketplace, but is useless with this common level of discomfort. It's therefore important to leave your property during showings and open houses to reach all potential buyers. Only then can top market value truly be obtained.
List with a Realtor
Working with a realtor is advantageous and will be rewarding to you for several reasons:
- They are familiar with the do's and don'ts of selling a home and can answer your questions and concerns
- They offer all the marketing tools and technology needed to obtain the highest price
- They are an intermediary party who will attract all the buyers to your home not wishing to work directly with sellers
- They understand various state and federal statutes and will reduce your exposure to liability concerns
- They can help you with all the paperwork needed during the offer process
- They will be at the home inspection to represent you regarding the condition of the property
- They will prepare the closing documents, attend closing with you, and address any problem that may surface
- They, on average according to mass surveys by the National Association of Realtors, will help you net 5% more in the offer price from the buyer
- They are worth the time and energy spent on selling your home
For Sale by Owner Facts
Despite a booming real estate industry, the number of homeowners electing to market and sell their homes themselves has remained idle at 10-15% over the past decade. The main reason homeowners opt to sell on their own is to avoid paying a commission. Many simply believe they have saved the commission amount if they are successful in selling independently. However, mass surveys to the For Sale By Owner (FSBO) market indicate FSBOs, on average, receive 5% less on their homes compared to selling through a realtor. The actual difference in savings is simply not worth the trouble to the savvy investor. It's no wonder that most who trial the FSBO experience never do so again. In fact, it's these homeowners who typically appreciate the services of a realtor the most.
FSBO FACTS:
- Many of the buyers who contact a FSBO are not pre-approved
- The majority of buyers ideal for the FSBO home never even know the FSBO exists through signage and classified ads
- The majority of buyers are uncomfortable negotiating directly with a seller
- FSBOs are limited on ways to attract potential buyers and normally take longer to sell
- Buyers who contact FSBOs typically expect to buy at a lower price due to commission savings
- First time home buyers and out-of-towners rarely shop FSBOs
- Most FSBOs are unaware of liability exposure and lack understanding in real estate statutes and real estate contracts
- The most effective tool used to sell a home is having it listed in the Multiple Listing Service (MLS) of area realtors
- The vast majority of property transfers are handled by Realtors
Choosing a Realtor
While there are a number of real estate agents in your area, it's important to consider an agent who will benefit you during the home buying process. Since most spend a considerable amount of time with their realtor, it's important to select a realtor you're comfortable with and one who understands your specific needs and expectations. The following questions may help you decide if a particular realtor is right for you:
- Are they easy to communicate with?
- Do you feel comfortable spending time with them?
- Do they seem knowledgeable about the industry?
- Do they explain things clearly?
- Do they fully understand offer paperwork?
- Do they have access to technology to reach your real estate goals?
- Do you consider them an asset to your real estate investment?