Helpful Tips For Sellers

 

14 IMPORTANT FACTS TO CONSIDER BEFORE YOU TRY TO SELL YOUR OWN HOME

Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional. Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market. Here are a few of the reasons why:
 
 
1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.
 
 
2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long... there must be something wrong with the home.
 
 
3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor... and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence.
 
 
4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.
 
 
5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.
 
 
6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.
 
 
7. The majority of qualified buyers are working with experienced real estate professionals.
 
 
8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.
 
 
9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.
 
 
10. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate sales representatives to bring potential buyers.
 
 
11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher.
 
 
12. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.
 
 
13. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.
 
 
14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer's to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Real Estate professional can act as a great mediator. Lawyers MUST act only on their client's instructions and are not paid to negotiate.
 
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Preparing for Showings

First Impressions
Remember, when a prospect comes to look at your house, the first thing they will see is your home's front door! Make it look fresh and clean. Be sure your lawn and landscaping is well manicured and trim looking. Be sure the yard is free of refuse and leaves. If it has snowed, be certain the ice and snow is removed from walks and steps.

What You Show Is What You Get
Faded walls and worn woodwork will reduce the appeal of your home. Why try to tell a prospect how your home could look when you can show them by a reasonable amount of redecoration? A quicker sale at a higher price will result. Invest in wallpaper in the kitchen or bathroom. It will pay dividends for you.

Let the Sun Shine In
Open those drapes and curtains all the way, so the prospect can see how bright and cheerful your home is.

Fix That Leaky Faucet
Dripping water discolours sinks and suggests to the buyer that the plumbing may be faulty or worn out.

Little Things Mean A Lot
Take a few minutes to check to be sure that your doors don't stick or have loose knobs on them. Don't forget your windows and cabinet drawers. Try and repair any minor flaws since they do detract from your home's value.

Safety First and Always
Be certain stairways are clear and clean since this will avoid injuries around your home, as well as avoid distraction to the potential buyers.

From Top To Bottom
Display your attic, basement, utility space and crawl spaces by removing all unnecessary articles. A coat of paint can do wonders if your basement appears dark and dreary.

Big Closets
Make them look bigger by having them neat and well organized to show that your home has ample closet space.

Bathrooms Sell Homes
Make those rooms absolutely sparkle. Check and repair any damaged or discoloured caulking in the bathtubs and showers, and be sure that the towels and area rugs are bright.

Bedrooms Shouldn't Sleep
Keep those rooms bright and cheerful. Remove any excess furniture and be sure to use attractive and colourful bedspreads, and fresh curtains.

Shine On
Your home's illumination can be a "welcome sign" to that prospective buyer! Turn on all your outside and inside lights when showing your home at night and they'll feel a glowing warmth as a result of your lighting.

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