10/06/2014 1. Know why you're selling your home.
The reasons behind your decision to sell affect everything
from setting a price to deciding how much time and money to invest in getting
your home ready for sale. Different goals will dictate different strategies.
However, don't reveal your motivation to anyone ,other than your agent, or they
may use it against you at the negotiating table. When asked, simply say that
your housing needs have changed.
2. Do your
homework before setting a price.
Settling on an offering price shouldn't be done lightly.
Pricing a home too high is dangerous to your equity. Remember that the average
buyer is looking at 15-20 homes at the same time they are considering yours.
This means that they have a basis of comparison, and if your home doesn't
compare favourably with others in the price range you've set, you won't be
taken seriously by prospects or agents, and its nearly impossible to get them
back!
3. Do your
homework.
(In fact, your agent should do this for you). Find out what
homes in your own and similar neighbourhoods have sold for in the past 6-12
months. That's certainly how prospective buyers will assess the worth of your
home.
4. Find a good
real estate agent to represent your needs.
Nearly three-quarters of homeowners claim that they wouldn't
use the same realtor who sold their last home. Dissatisfaction boils down to
poor communication which results in not enough feedback, lower pricing and
strained relations. This is a HUGE Decision!
5. Maximize your home's sales potential.
Each year, corporate North America
spends billions on product and packaging design. Appearance is critical, and it
would be foolish to ignore this when selling your home.
You may not be able to change your home's location or floor
plan, but you can do a lot to improve its appearance. The look and feel of your
home generates a greater emotional response than any other factor. Clean like
you've never cleaned before. Pick up, declutter, scrub, scour and dust. Fix
everything, no matter how insignificant it may appear.
6. Make it easy
for prospects to get information on your home.
You
may be surprised to know that some marketing tools that most agents use to sell
homes are actually not very effective. Furthermore, the prospects calling for
information on your home probably value their time as much as you do. The last
thing they want to be subjected to is either a game of telephone tag with an
agent, or an unwanted sales pitch. Make sure the ads your agent places for
your home are attached to a 24 hour information source about your property day
or night 7 days a week without having to talk to anyone. It's been proven that
3 times as many buyers call for information on your home under this system.
7. Learn about
your buyer.
In the negotiation process, your objective is to control the
pace and set the duration. What is your buyer's motivation? Does s/he need to
move quickly? Does s/he have enough money to pay you your asking price? Knowing
this information gives you the upper hand in the negotiation because you know
how far you can push to get what you want.
8. Make sure the
contract is complete.
For your part as a seller, make sure you disclose
everything. Smart sellers proactively go above and beyond the laws to disclose
all known defects to their buyers in writing. If the buyer knows about a
problem, s/he can't come back with a lawsuit later on. Make sure all terms,
costs and responsibilities are spelled out in the contract of sale.
9. Don't move
out before you sell.
Studies have shown that it is more difficult to sell a home
that is vacant because it looks forlorn, forgotten, and simply not appealing.
It could even cost you thousands. If you move, you're also telling buyers that
you have a new home and are probably highly motivated to sell fast. This, of
course, will give them the advantage at the negotiating table.
BestLondonHomes.com
We offer Free Real estate information, including FREE home value estimates for London and area, a Home Sellers help kit - Specifically for home owners who failed to sell the first time they were on the market or for sale by owners. We specilize in helping home owners maximize the sales price of thei…
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