Home Selling Tips

1)    Before Selling or Listing

*       Research the neighborhoods to which you plan to relocate, and then get pre-approval for a home loan before pricing yours on the market.

*       Calculate your current mortgage payoff.  Get your home appraised to estimate its current worth.

*       Calculate the costs of selling and buying a new home, and figure out the estimated proceeds.

2)    For Sale by Owner

*       Study housing markets and prepare professional fact sheets, contracts, and forms.  Assemble documents and get home repairs and cleanup in order for the sale.

*       Familiarize yourself with the neighborhood so you can answer questions & price your home accordingly with comparable properties.

*       Consider listing our home for a flat fee with the Multiple Listing Service (MLS). 

3)    Interviewing Real Estate Agents

*       Ask how many years they have worked in the real estate business, and how many homes have they sold in the area?

*       Ask how many total homes they have sold, and what percentage were sold at the original asking price or better?

*       Ask what are the commission rates, and if they are negotiable?

*       Ask how the home will be marketed and how will meetings with potential buyers be coordinated?

4)    Pre-listing Inspection

*       Hire a license or certified Home Inspector to help set realistic price expectations and to see the home through a third party.

*       Inspections provide opportunities to make repairs and prevent delays in obtaining use and occupancy permits.

*       It establishes trust and peace of mind, alleviating a potential buyer’s concern or suspicions about the property.

*       Make copies of the inspection and repairs available to buyers.

5)    Disclosures

*       Note “material” problems to the buyer in writing.

*       Disclose plumbing or electrical issues; hazards such as asbestos, radon gas or lead paint; foundation, roofing, pests and heating and ventilation issues; alterations to the properties without a building permit.

*       Shift as much responsibility as possible to a paid professional.

*       Check your state’s housing authority for legal disclosure rules.

6)    Creating First Impressions

*       Conduct curb-to-door cleanup.  Prune shrubs and trim trees and lawns, paint the front door and plant seasonal plants to enhance the attractiveness of the home.

*       Remove clutter and make the home look spacious.

*       Depersonalize – let the buyers imagine the home as their own.

*       Remove religious, political, and social artifacts before showing the home.

7)    Setting a Price

*       Prices can vary for comparable structures and depend on current market conditions. 

*        Take current market conditions into consideration when pricing your home for sale.  Is it a buyer’s, seller’s, or balanced market?

*       Study market listing no more than half a mile away from your home for pricing guidelines.  Look for common patterns.