HOME SELLING ARTICLES AND ADVICE
Things To Consider Before Selling Your Property “By Owner”
Most of us do not like to spend money unnecessarily, especially when we feel we could do the job at hand as well as the person or persons we are hiring to complete the task. It would be a good idea to consider the following questions to assess the process of handling the sale of your property yourself, before attempting to do so:
• Do you know how to determine the current market value of your home?
• Do you know how and where to advertise your home most effectively and what the costs will be?
• Did you know that each REALTOR® has access to a Multiple Listing Service (MLS), which is a database of properties listed for sale by REALTORS®. Real Estate Agents refer to MLS for prospective properties to show their clients and for comparable sales when determining value for a prospective listing. Only Real Estate Agents have access to this information.
• Have you made arrangements for your home to be available for showing 12 hours a day, 7 days a week. If not, each hour that you do not provide this availability your home is “off the market”.
• Are you concerned about having strangers walking through your home?
• Do you know how to determine whether or not a buyer can qualify for a home?
• Are you conversant enough with real estate law to write a legal and binding real estate contract?
• Do you understand the steps of an escrow and what is required of you and the buyer to complete the transaction?
• Do you know which title company, real estate attorney, termite company, inspection company and lender to hire that will provide the best service and costs to you?
• Do you have experience with resolving problems and protecting your rights in a real estate transaction?
Your home is probably your largest investment. You are the only one who can determine whether or not you should attempt to sell your home by yourself. Talk to a REALTOR® before you decide. You may find that working with a professional is a lot less expensive and will get the job at hand done in a more timely and less stressful manner than attempting to do it yourself.
Home Listing Tips
1. Price Your Home Right Your agent can research comparable sales in your area and advise you of the appropriate price range for your property.
2. Be Flexible on Financing Terms Have your agent explain what financing options are available. Flexibility on financing terms may secure a better selling price.
3. Time it Right Ask a real estate professional to determine whether the market cycle is poised to net you the most money.
4. Make Your Property Accessible to Buyers Lock boxes are a great way to make your home most accessible to agents for showing. Appointment-only showings are the most restrictive. If your lifestyle is not compatible with frequent showings, your agent will help you determine a solution to suit your needs. Remember, the easier a home is to show, the better the odds are of getting the deal you want.
5. Use the Latest Marketing Technology Make sure your agent utilizes the latest technology, such as Internet sites and social media that cater to home-buyers. In some areas, cable advertising is popular. Others use 800-number interactive voice response systems. A good agent will know where you can get the best exposure.
6. Stage Your Property Correctly Put some items in storage, create more light, play music or otherwise improve the ambience. Your agent can offer helpful advice to create the right first impression.
7. Remember that Selling Property is not Seasonal Do not base selling decisions on the seasons. Property sells year-round.
8. Re-Evaluate the Marketing Plan Re-evaluate your agent’s marketing plan periodically. Make needed adjustments based on the current market and buyers.
9. Analyze Why You Are Not Getting Offers Eighty percent of all buyer activity comes from signs and MLS listings. So, if you are not getting offers and are flexible with showing your home, it may be time to re-evaluate your price, not necessarily your agent.
10. First Impressions are Golden Sales have gone south thanks to unkempt lawns, cluttered closets, unpainted front doors, hard-to-work locks, blown light bulbs, bad color, stains, unlit areas, and foul smells. Spend time on the little things. Double up on your gardening. Keep things cleaner than usual. Take serious control of your pets during this time period.
11. Make the Right Kind of Repairs Before making improvements, prior to listing, consult a real estate professional. Some upgrades will not yield any real increase in value, while others may increase property value substantially. Ask for low-cost solutions to minor repairs that will yield the best profits.
12. Give the Sales Process Enough Time Homes may take three to six months in any market. Estimate how much time you have before you need to sell and then plan ahead to allow extra time. You don’t want to be forced to accept a disappointing offer.
13. Screen Prospects Adequately One of the best reasons for hiring an agent is his or her ability to pre-qualify a prospect financially so that you don’t lose valuable negotiation time. Your agent may discover when a prospect has an ulterior motive for shopping homes.
14. Believe that You Can Make a Difference The top agents in the industry report that their sellers are responsible for at least one out of ten sales. You can network with your business and personal friends, hand out flyers, and keep your house in move-in condition. Your agent should be ready to hand you all sorts of assignments to make the team effort successful.
15. Test the Market Never put your property on the market unless you really want a sale! Get ready for a professional sales push when you list. If your plan harbors some indecision, resolve it before you list because success is every great agent’s objective! llawyerstitlearizona.com page 8 Home