Friday, 27 January 2012

House Selling Tips From The Pros

By Harold Spencer


It is lamentable that so many people don't bother to understand the concepts of real estate before selling their homes. Truth be told, the estimated worth of your home (in your view) doesn't matter. The value of your home, and any improvements you made, is determined by buyers. One person's idea of a great home is enough for another person to say "next!" and move on to other options. Remember that your buyers' needs and wants matter more than anything else, and keep these ideas in mind.

House Selling Tips

Know your market. Do your research on how much similar houses have sold for in the past, and use this as your basis when presenting your house to would-be buyers.

Decide on your minimum price - the price below which you will just not move. You would want to keep this value hush-hush when dealing with your agent while dealing with anybody who makes an offer above that minimum.

Clean the most visible things first. Buy a new mailbox, perhaps. You want to infatuate your potential buyers with your home because they just might overlook quite a few minor issues.

Be proactive and make sure nearby houses are clean. If there's a neighbor who's yard is a mess, give their kids $10 to pick up the yard. You may want to collect $20 from neighbors to put flowers on shared areas to give potential buyers a great first look at your neighborhood.

If neither you nor your agent are fielding a lot of calls, there must be a reason. Does your sales pitch need some work, or is the home overpriced, perhaps? Drop it fast, if price is the problem.

Listen to comments of prospects. Don't think of them as the second coming of Simon Cowell - they're just being unbiased. So if they keep making side comments about your leaky bathtub, then call a plumber post-haste!

Research on what is the turnaround time for sales in your location. If your house is taking longer than average to sell, there is a problem. Usually it's price.

Before signing on the dotted line for a listing agreement, ask your real estate agent about his/her plans. If you write down what they say, that can constitute as a binding contract.

If there are potential issues in your home that need fixing, get a repair quote. The sellers may want a $7,000 allowance for a new roof - until you show them your $4,000 estimate.

Make any improvements that could possibly ensure you of about two-to-one or more return on investment. You want to increase your home's value in ways such as sealing your driveway for $300 to get an additional $600 tacked on to your sales price. Consider first those things that are most visible.

These are just ten of the best ways you could sell your house faster and improve on its value. If you don't have time to do them all, start with the ones that will get the most "bang for your buck."




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