Before Selling:
1. Select a Realtor
A professional Realtor knows the market and your area and can provide you with information on past sales, current listings and develop a marketing plan for your home. Make sure you see multiple candidates before making your decision. Evaluate each candidate carefully on the basis of their experience, qualifications, enthusiasm and personality. Always choose somebody you can trust and somebody that you have confidence in.
2. Shop the Market
To learn how to make your home look better, you can visit other homes on sale and see what you like and don’t like. Chances are other buyers will feel the same way and this can help you identify the dos and don’ts for your home. A particularly important thing to note is not just the asking prices but the selling prices as well. You don’t want to price higher than other comparable homes or it could end up taking you a long time to sell.
3. Make Sure You Know Why You Are Selling
Make sure you have a clear understanding of why you want to sell your house and what are the key things you are looking for in return. Some people put price above all else, while others are more concerned about dates and conditions. Be sure you know what is important to you so that you can define your approach and stick to it. Depending on your goals, your approach can become very different.
Setting an Asking Price:
4. Research before You Price
Price is key in selling your home. Pricing can indicate to potential buyers that your house is over priced or under valued. In either case, this can have a negative impact and can reduce the number of potential interested buyers. You also want to be aware of what other similar homes have sold for in your area. If you start out by pricing too high, you run the risk of being overlooked by potential buyers and their agents. If you are pricing too low, it can result in selling for much less than you were hoping for.
5. Remember Tax Assessments Aren’t Always Accurate
Many consider tax assessments as a way to determine the value of a home. Unfortunately, they do not always serve that purpose. Tax assessments are based on criteria that may not be related to the value of your property and thus may not indicate the real value of your home.
Preparing your home:
6. First Impressions Do Matter!
The look and feel of a home can be the difference between a bidding war and a home with no offers. When people come to see your home, the first impression they get will determine whether or not they believe it is the home for them. The look and feel of your home will generate an emotional response from buyers and help them feel at home. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell. Wash, wax, dust, clean up, repair and do whatever else you need to do to make your home look like the day you bought it. Even the smallest mistake can be costly in attracting a discriminating buyer.
7. Odours Can Drive Buyers Away
Pets, smoke and food smells can be deal killers in real estate. Even the tiniest odour can make buyers uncomfortable. It is your job as the seller to make sure signs of smoking and pets are not visible. Buyers assume that homes owned by smokers or homes that have pets will not be in the same condition as homes where there are no pets or smokers.
8. Let Buyers Envision Themselves Living in Your Home
You want to make potential buyers feel like they can envision themselves living in your home. It is important to make the home look welcoming yet neutral so that the buyer is not forced to think of the home in a particular way. They can use their imagination to arrange items in the home and make it comfortable for them. Remember, if a buyer can’t see themselves living in your home, why would they even consider buying it? It is often more difficult to sell a home when it is empty. Buyers see the home as forgotten, unwanted and unwelcoming. Try to sell your home before you move to make your home more marketable to potential buyers.
During Negotiations:
9. Always Counter Submitted Offers
Even if an offer is lower than you were asking, nothing is lost if you make a counter offer to it. You never know how flexible a buyer may be, or how high they may actually be willing to go. If you walk away from a low offer, you may be walking away from a sale.
10. Don’t Tell Buyers Why You Are Selling
Why you are selling your home can affect the way you negotiate and market it. Keeping these ideas to yourself gives you the upper hand in negotiations with potential buyers. If you are asked, simply say that you need something different from what you currently have.
11. Disclose Facts About Your Home
Be open with your buyers. Answer questions and disclose relevant information. Buyers will feel more comfortable purchasing a house from someone they can trust. This can also reduce liability and prevent lawsuits later on.
12. Don’t Let Emotions Get in the Way
Approach selling your home as a business deal. Even though you may have years and years of memories in the home, if you want to successfully sell it, you will have to detach yourself and focus on the business aspects. You'll definitely have an advantage over those who get caught up emotionally in the situation.
13. More Interested Buyers Can Bring Higher Prices
The better you are able to market your home, the more buyers you can attract. If you have multiple interested buyers this can give you the luxury of choosing the price and terms that fit what you want. You will have control over the sale which may develop into a bidding war and ultimately increase the price of your home.
14. Determine when the Buyer Wants to Close
Quite often, when buyers would "like" to close is when they “need” to close. Knowledge of their deadlines for completing negotiations creates a negotiating advantage for you and can help you get the closing date that you want. The better you know your buyers, the better you can use the negotiation process to your advantage. This allows you to control the pace and duration of the process.
15. Be Sure Your Contract Is Secure
To avoid problems, ensure that all terms, costs and responsibilities are spelled out clearly in the contract. With us by your side, we can help you through these details. Make sure the offer includes items such as the date it was written, names of parties involved, address of property being sold, purchase price, where deposit monies will be held, date of closing and what personal property is included (or not) in the sale.
Finally:
16. Consider the Risks of Buying a New Home without Selling Your Current One
Beware of closing on your new home while you're still making payments on the old one. This could land you in a sticky situation and may force you to sell quickly and not get the value you deserve for your home.
