Tips on Selling

There are a million different reasons why people sell their homes, but every seller has one thing in common: the desire to get as much money as possible from their existing residence as quickly and as hassle-free as possible. A complete analysis of your current position will set a good foundation for your next home hunt.

When is the Best Time to Sell Your Home?
Everyone seems to have specific ideas on when the right time is to sell. Some base their theories on the overall economy, while others will tell you that there are key buying months that you'll want to capitalize on.

If you're not buying and selling strategically or for investment, the best time to sell is really when you feel your existing home will not meet your future needs. The best reason to purchase a new home is to take advantage of your family and lifestyle changes. Do you wish to be closer to a school? Are you switching jobs? Do you have an aging parent to care for?

Are There Costs Involved in Selling?
Unfortunately, the answer is yes. Even if you think your home is perfect, you may have to do some minor repairs or upgrades to make your home more attractive to potential purchasers.

Buy or sell first?
That's tricky. After all, if you find a purchaser for your existing home, before you've found a new one, you may find yourself living out of a suitcase if convenient closing dates can not be negotiated. On the other hand, if you find your dream home before you've unloaded your old one, you may be disappointed as your “dream home” is sold to someone else, because you have to sell yours first. The closing date is something that can be negotiated in the offer; so hopefully, you are not faced with either scenario.

Determine Your Asking Price
Before you put your home up for sale, you must set the price. And before you can do that, you must know what the house is worth. That doesn't mean what you paid for it, or how you upgraded it. Determining worth is simply finding out what someone would pay for it.

The steps in determining worth are:
1. Understanding market conditions
2. Getting the details about recent sales in your neighborhood

RE/MAX agents have access to all of this information. Plus, they can objectively see the big picture and tell you what makes your home unique.

Once you've determined you home's worth, you and your agent will determine the asking price. Most often, the price of a home is set slightly higher than its worth, to give a little "bargaining space." Of course, if it is set too high, it may deter prospective buyers.

Make Your House More "Sellable"

Overall, your RE/MAX agent will work with you to position your home on the market so that your sales experience will take place as expeditiously as possible.

Provide a Professional Marketing Program

• The Multiple Listing Service (MLS) is the primary tool for most real estate agents, but not the only one. Your RE/MAX agent has a number of options depending on the location of your home and market conditions.
• Newspaper advertising is a very popular way of getting in front of those thinking of buying a new home. Another is the Real Estate Channel, carried by many cable companies.
• The FOR SALE sign! Home purchasers who are doing their homework often cruise through neighborhoods they are interested in. With your agent's phone number on the sign, passersby can easily get information about your home and set up a viewing time.
• Your RE/MAX agent and the brokerage will also have a number of potential buyers as clients and they may be looking for a home just like yours. There is also the RE/MAX national relocation service which directs purchasers from across the country directly to homes for sale.

What Your RE/MAX Agent Will Do for You
Complete a market analysis to determine a realistic asking price. Make recommendations on making your home more "sellable." Provide a professional marketing program. Advertise your home on the Multiple Listings Service (MLS). Arrange showings. Negotiate the best terms possible.

When You're Ready to List
One of the first things you and your RE/MAX agent will do is draft a listing agreement. It provides prospective purchasers with:

Advertise Your Home on the Multiple Listings Service (MLS)
This service is only available to real estate agents. It is a database of all the homes for sale through agents. Details about your home will be available to other agents searching for homes in your area, in the range of your asking price.

The Open House:
This is usually not a pleasant experience. The upside is that you usually won't have to be there to act as a guide. The downside is that you might have a series of open houses over a few weeks, with people poking through all areas of your home. And you'll have the constant pressure of keeping your home looking its best.

The Viewing:
When an agent has a client who is interested in your home, they will first call to make an appointment with your RE/MAX agent. If you're lucky, you'll have time for the last-minute tidying. Of course, you can say no if the prospective purchaser wishes to come at an inconvenient time.

During the viewing, make sure you give the viewer and the agent a feature sheet and get the agent's business card. Give viewers the freedom to wander around your home by themselves. Following may make them uncomfortable. The agent will stay with the prospects to offer some protection against theft or property damage.

Is Your House in Any Condition to Be Put Under a Microscope?
That's what they say about first impressions. Now, take a look at your house as if you were a buyer. With a critical eye, examine your home from outside and inside. Bring along a pad of paper and take notes! Determine what can be solved by a simple cleaning and what needs professional attention and repair. Your list should also include problems that are immediately evident and underlying problems you know of, like a leaky basement.

Let's start with the exterior of your home. Think of what you would like to see when you're viewing a home, or better still what you wouldn't like to see -- cluttered yard, weeds crowding the garden, loose or dangling exterior features (like a broken door), paint peeling, broken fence, or an oil-stained, damaged driveway.

Take a good, objective look at the outside. Would what you're facing invite you to explore further or make you ready to leave?

Simply having the lawn mowed or the driveway shoveled in the winter will make a better impression. Also, remove any "cutesy" lawn decorations that may have home viewers rolling their eyes. And trim any overgrown shrubs or hedges. If you have a sizable property, you may also wish to hire a professional to weed and feed your lawn.

Flowers are a very effective way of adding color and warmth to your home. If you're selling during the spring, plant flowers to make the property colorful and inviting. A bouquet or two in your house also adds a nice touch.

The Next Step
You're in the home. Your five senses are alert. Is what you see clean and organized? Is there an odor? Old shoes? Stale cooking? Garbage? Pets? If there is, it could be a deterrent to potential purchases. Bake cookies or simmer potpourri before your home is shown to give your place a comforting smell. Also, clean your carpets and air out your home.

And speaking of carpets, cleaning them is fairly inexpensive. Without the grit, and with the carpet pile looking fresh, your home takes on a new appearance. While you're at it, take a broom around and brush your walls and light fixtures to remove any cobwebs. Work your way from the ground up. Wash the walls or repaint soiled areas. Touch up chips or plaster nicks. If you've used severe designs or dark colors on your walls, you may wish to repaint your home so that has a more neutral move-in appearance. Also check the ceiling and plaster and repaint it white if necessary.

Clean and Shine
Put extra emphasis on your kitchen and bathroom. Replace moldy shower curtains and clean mold and mildew off of bathroom tiles. Caulk if necessary. Repair leaky faucets and replace cracked toilet seats. Ensure that the toilet flushes properly. Make certain that the drains are unclogged. Everything should sparkle -- faucets, floors, counters, mirrors. What can be cleaned, should be!

In the kitchen, clean the stove and refrigerator, organize the cupboards and wash the floor. Make certain your appliances work. Wipe the walls, touch-up paint or re-stick wall paper if necessary. Clean the sink and ensure that it drains properly and the faucet doesn't leak. (When your home is shown, make sure there are no dirty dishes in the sink and don't forget to take out garbage out!)

Check All Floors and Stairs
Replace missing or damaged tiles. Is there any wood rot? Do the floors look clean? Does the wood need a good sanding and varnishing? Does the floor squeak? (There's a new device on the market that enables you to invisibly fix your squeaky floor right through the carpet. Ask your hardware retailer for details.)

Are your stairs creaky? Are the handrails loose? Are there any missing pieces?

Examine All Doors and Windows
That means all interior and exterior doors. Look for structural or surface damage. Do the doors need repainting? Do the hinges squeak? Are the door knobs worn - and do they work?

Are the windows drafty or are they properly caulked? Are they easy to open? Are they clean? It goes without saying that all window panes should be crystal clear and unbroken.

Take a Good Look At the Basement
If it is finished, make sure that it is as spotless as the rest of your home. If it is used as a storage area, eliminate the clutter and organize all boxes. (This will also help you with the move!) Check for any signs of dampness.

Have the Plumbing and Electricity Checked
Are there leaky pipes or electrical outlets that don't work? Have them repaired before you put your home on the market. Also, it's a good idea to replace any broken switch or outlet covers and match switches and covers to the room decor.

Make Sure the Furnace and Air Conditioner Work
Replace the furnace filter and have the furnace and air conditioner professionally serviced.

Don't Just Hide Clutter
Buyers will look everywhere -- into cabinets, under carpets, inside closets. (You think you had it bad with nosy relatives poking around!) Plus, a clean house gives the impression of being larger.

Home Inspection Checklist
Make notes on what needs minor clean up and what needs a major repair. Evaluate your home as if you were a potential buyer, so the key is to be honest with yourself!

Negotiate the Best Terms Possible

After many discussions, your RE/MAX agent will know the minimum conditions, acceptable closing dates, and lowest price you'll accept from a potential purchaser. Make certain that your agent also has some leveraging power with chattel you're willing to agree to in the offer.

By knowing your parameters, your agent can work with the potential purchaser's agent to create an offer that will be acceptable to you. After all, it comes down to bargaining and persuasion, and your RE/MAX agent is one of the top in this field.

If you are thinking of selling & would like a complimentary opinion of value on your property, please give Nicole a call or e-mail today. There is no obligation for this service, no pressure or hassles. When you are ready, so is Nicole!

More than just buying or selling homes!