A recent article on Realtor.com provided some practical advice for homeowners looking to sell in the near future and get the most out of their home sale. Following is a brief recap of their helpful information:
• Get the price right. Reaching for a price that’s well above market price for your area is a recipe for disaster. Remember that any home that sits on the market for an extended period of time will turn off potential buyers who might suspect something is wrong with the property. Sellers who work with an experienced Realtor on proper pricing are often able to receive the highest price and sell more quickly.
• Timing is everything. Just because we’re in the middle of a holiday season doesn’t mean that the housing market stops. In fact, now is the time to make plans to list your house in early 2017!
An experienced Realtor can provide incredible insight into the real estate market and much-need guidance through the buying or selling process. Contact your Realtor today to schedule an appointment.
Today we’ll conclude our recent series of articles in which we’ve recapped a story that first appeared on Forbes.com highlighting some easy tips for selling your home quickly and efficiently. If you like articles featuring helpful real estate tips, check back again soon because we’re always unearthing new stories!
When attempting to sell a home …
• Group your living room furniture into arrangements that inspire conversation. Buyers like to picture themselves relaxing and conversing with family and friends.
• Do a practice run through your house to make sure nothing disrupts the flow. You don’t want your guests bumping into furniture as they walk through the house.
• Baking cookies just before an open house will connect buyers with the kitchen. If you’re not prepared, you can fake it with a delightfully scented candle.
• Get creative and showcase how your space can be utilized. For example, a chair or rocker with a strategically placed coffee cup and a book can turn an empty corner into a comfortable reading nook.
• Draw attention to focal points. For example, red throw pillows can draw attention to a window seat, while a striking fern on the mantle can highlight the fireplace.
• Spend some time outdoors and trim the shrubs, weed the flowerbed, touch up the paint, etc. And remember, first impressions are the most important!
The role of the power of attorney — an individual authorized to act for another person in legal or financial matters — is an important one. And, it’s a role that we often encounter in real estate proceedings.
A power of attorney may take responsibility for any number of decisions, including issues involving payment of debts, distributing assets, selling real estate and personal belongings, and much more. With numerous responsibilities to fulfill, you may wonder if multiple powers or attorney would be more efficient. In a word, the answer would be “No!”
Decisions can be easily short-circuited when two powers of attorney must agree on everything. Dealing with one trusted individual simplifies the process and makes it easier for all parties involved. And when real estate is involved in the process, the power of attorney needs to sign off on all paperwork. Therefore, multiple powers of attorney can lead to delays, especially if they are located in different geographic areas.
If more than one close family members wants to serve in that capacity, consider appointing one as power of attorney and the other as a “back up.” This may help family members who feel obligated to serve feel more involved in the overall process.
Tips for selling your home quickly was the topic of a recent story on Forbes.com that we’ve been examining the past few weeks. Today we’ll review a few more of those tips that we hope will help you when you make the decision to post that “for sale” sign.
• You know that honey-do list you’ve been avoiding? Well, it’s time to knock some items off that list! Let’s face it, they’re on that list for a reason, and most of the jobs are fairly small. Take half a day and knock off as many projects as possible. If you notice them, potential buyers will also notice them.
• Rather than renovate an entire room, which can take lots of time and dollars, make little tweaks. For example, if your kitchen is looking a little outdated, try replacing fixtures, faucets and hinges for a fresher look.
• Each room should have a purpose, and it should be staged for that purpose whether it’s an office, craft room, or guest room. Under no circumstances show it appear as a dumping ground.
• For just a few dollars you can make your bathroom seem more like a spa by adding pretty washcloths and towels, scented candles, a new bathmat, etc. This is one room where you’d like to feel relaxed, not stressed.
• Close the toilet when showing or photographing your home. It’s a little tip that makes a big difference.
Stop by again next week for more helpful tips from Forbes.com and The Olear Team!
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
Where did buyers find the home they actually purchased?
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
3. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
The buyer who wants the best deal possible
The buyer’s agent who solely represents the best interest of the buyer
The buyer’s attorney (in some parts of the country)
The home inspection companies, which work for the buyer and will almost always find some problems with the house
The appraiser if there is a question of value
4. FSBOing Has Become More And More Difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.
The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.
5. You Net More Money When Using an Agent
Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.
Studies have shown that the typical house sold by the homeowner sells for $210,000, while the typical house sold by an agent sells for $249,000. This doesn’t mean that an agent can get $39,000 more for your home, as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.
Bottom Line
Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.
Today we’ll continue our recap of a recent Forbes.com article which offered multiple tips for preparing your home for sale. As they say in the article, “A few minor touch-ups can go a long way toward making a favorable impression on potential buyers.”
• When preparing to show your house, remove personal items such as family photos and your child’s artwork because potential buyers want to envision themselves in your home.
• Opens windows and allow natural light to flood your rooms, and add lamps to rooms that appear dark.
• Add healthy and bug-free indoor plants and flowers to help create positive energy.
• Get rid of bulky or oversized furniture that might make your rooms look small and cluttered.
• Organize your closet by adding nice boxes, dividers and other suitable solutions.
We’ll be back next week with more tips … so stay tuned!
