From leaving the house for showings and open houses to having to keep the place spotless at all times, having a home on the market can be a nerve-wracking endeavor. Once you’ve made the decision to sell, you want to know that you won’t be in this anxiety-filled limbo forever. You want to hand over those keys, collect your check and move on — literally!
So, without lowering your asking price, what can you do to sell your home in a hurry? Here are 11 strategies that will help your property sell quickly without your wallet taking a heavy hit.
Few things detract from the beauty of a home quite like clutter. Though straightening and organizing is rarely the way most homeowners want to spend their days, it makes a huge difference. We’re not just talking about scrapping the junk mail either. Rid your entryways and mud rooms of extra coats, bags, and boots. Keep your countertops clear, and don’t forget to straighten up inside the kitchen and bathroom cabinets! Yes, buyers look there.
2. Rent a storage unit.
Try removing one third of your items — especially from closets — before putting your home on the market. This will make your home appear more spacious. Consider renting a storage unit rather than stuffing your basement or attic — because buyers look there as well!
3. Clean like you’ve never cleaned before!
Whether you’ve lived in a home for a few months or a few decades, some stains become invisible to you. While not every visitor will perform the old white glove test, they will notice things like dirty windowsills and dusty shelves. (And that crusty stuff on the bottom of your oven needs to go too.) Don’t forget the ceiling fans! Continue reading Laugh All The Way To The Bank!→
When homeowners are preparing to place their properties on the market, one aspect looms large in their minds: money. And it should. Setting the asking price accurately can mean the difference between getting an offer quickly and having a house languish for months, accruing days on the market and drawing little interest.
How do you block out the noise that often surrounds the intricate art and science of pricing? How do you separate fact from fiction? The question can cause you to lose sleep. The truth?
1. If we keep waiting, a better offer will come along.
Occasionally. When sellers receive an offer from the first showing, they may be skeptical or hesitant to accept it. Would other prospective buyers be inclined to pay more? Thoughts of bidding wars can cause sellers to want to wait and see. There’s no guarantee other would-be buyers are waiting around the corner. If the offer is fair, entertain it. Consider the time, mortgage payments, and inconvenience involved in keeping your home on the market.
2. Getting an offer right away, means the agent priced it too low!
An offer early on in the process may provoke the questions, “Should we have asked for more money? Did our agent price it too cheaply?”. It’s natural to be skeptical, but receiving an offer quickly most likely means your home was priced accurately and attractively. If you trust your agent (and read my book), you know he or she didn’t pick a number out of the sky. It’s based on extensive market research and discussed at length prior to signing your agreement. It’s an occasion to celebrate!
3. We should price it so there’s room to negotiate.
Sellers – and their agents – want to get top dollar. But overpricing it with the intention of being willing to accept a lower offer may leave you empty handed. (It’s explained in my book) Plus, if you have to drop your asking price multiple times, buyers may begin to wonder what’s wrong with the property — other than the price, that is.
4. That’s not what my Zestimate says it’s worth!
I love Zillow. But have you ever noticed how homeowners are eager to believe Zestimates or other automated valuation models (Even my Bestimate can go wide of the mark!) when that price exceeds their expectations? Yet, when the opposite happens, they assume it’s outdated or erroneous information. Did your agent use the 2-step process to prepare your estimate of value? (Have you read that part of my book?) Don’t do your home a disservice by asking it to yield more than the market will bear.
5. We can add all renovation costs to the asking price!
No. Yes, you’ve made improvements. And the upgrades look great! But remember, not every change is going to land a huge return on investment. If you’re curious about the value added, check out Remodeling Magazine‘s annual ‘Cost Versus Value’ report. You’ll find which upgrades yield the biggest bang for your buck. Also, as you’re making changes, bear in mind that the infinity pool you view as an asset may just seem like a huge liability to a buyer. Perspective is everything.
6. My Realtor® overpriced my house to make a larger commission.
Agents are paid a percentage of the selling price of the home. However, even if they were to raise the ask by $25,000, that might yield an additional $1,500 in commission, to be divvied up between with agent’s broker and the buyer’s agent, leaving your agent to realize an additional $750. It’s hard to imagine an agent would blow the possibility of a quick sale — and take on weeks or months of additional showings and marketing expenses — for a few hundred dollars. It’s not logical.
7. Reducing the price is a sign of weakness.
Definitely not. It’s not about being eager to drop the listing price. It’s about constant evaluation of all the data available to you. If time has passed and interest is waning, talk to your agent. Ask for an updated CMA. The market changes. (Seriously, ask for my book.) Remember, time is money. While you’re waiting for someone to meet your price, you’re still paying the mortgage, taxes, utilities, and insurance etc. Plus, lowering the price (even a small amount), may put your home in front of a new group of buyers. This translates to increased interest and an opportunity to negotiate the price closer to where it was in the first place.
Have you ever gone to an open house? Or called a real estate agent because you were curious about a listing? Maybe you e-mailed an agent about a property he/she has listed?
Did you just want to check out the house? Maybe you’re curious about amenities. Or, perhaps you’re really serious about buying a house. Doesn’t matter. All you’re doing is asking a question. That’s it. You just want an answer.
It must seem like one of the first questions we ask you is, “Do you have a house to sell?”
I’m sure you wonder what difference it makes and I suppose it does seem a bit cart-before-the-horse. It might even come across as pushy and forward, and beside the point. (Well…that’s sort of characteristic of Realtors, right?)
You don’t even know if you like the house – and you aren’t even really thinking about selling your house, until and unless you find the house you want and actually have an offer accepted.
So, why is it asked?
Maybe you think it’s because we’re hoping you do have a house to sell, so we can list the home you own, sell you the one you’re asking about, and get two sales off you. Or that we want you to list your home, and get it under contract, so that you have to move…(again, so we can get two sales off you).
Which makes you feel like we’re just looking to make as much money as possible, as quickly as possible, and all from you! All of your fears and perceptions about real estate agents seem justified…but… Continue reading Why Do Realtors Ask That?→