Top Ten List – Advice On Selling A House
The sources for advice on selling a house are so numerous these days it’s ridiculous. But that hasn’t stopped many individuals from shooting themselves in the foot instead of successfully selling their house. Being totally clueless about real estate value.
Here’s the deal – nobody gives a rodent’s derriere about what you perceive your home as being worth. And nobody will care a hootenanny either about the myriad improvements you made for the benefit of your family. It is the buyer’s perceived value and nobody else’s that matters here. What you enjoyed about your house may be irrelevant when it’s time to sell. Think WWBD – What Would the Buyer Do – and follow some of the quick and helpful hints below if you want proper advice on selling a house.
Research the market. What other similar houses have sold for? Educate your prospective buyers by detailing these examples.
Come up with a minimum price. Where anything below it would be a deal-breaker. This information would be proprietary, for lack of a better word – don’t tell your agent, but wink-wink your buyers with this value when they make an offer slightly above that price.
Concentrate on the visible things first. A new mailbox sounds neat, doesn’t it? When buyers fall in love with the house before they even enter it, they forgive a lot of problems.
Clean the neighborhood. If a neighbor’s yard is a mess, give their kids $10 to pick up the yard. Or a Jackson for said neighborhood children to decorate any common areas with flowers, so that way buyers would have a better impression of what they see around the property.
Perhaps a paradigm shift in terms of marketing would be needed if the calls aren’t coming in. Do you need more advertising? Price too high perhaps? If price is the problem, drop it fast. Oh, wouldn’t it be a shame if Mr. or Ms. Perfect Buyer would look at other properties while your home is still on the exorbitant side?
Don’t dismiss your buyers’ suggestions. Remember they see things from a neutral POV. If you hear several times that the kitchen is dark, get out the white paint.
Research how long it usually takes for a house to be sold. If your house is taking longer than average to sell, there’s a problem, and usually it’s the price.
Demand transparency from your real estate agent – what exactly do they plan to do? Write down what she says, and hold her to her promises.
If there are known problems, such as an old roof, get an estimate for repairs. You’ll have potential buyers turning a 360 if you show them a $4,000 estimate for roof repair, for instance, that is lower than their $7,000 asking allowance.
Make small improvements if you can, improvements that would guarantee a two-to-one return on your investment at least. Don’t hesitate to make that improvement if, say, $300 more to seal the driveway can ensure you of a $600 ROI. Always look towards those improvements pertaining to your home’s Curb Appeal.
There are dozens of things you can do to sell your house faster, and get a better price. Start with the ones that will get the most “bang for your buck.” And please, PLEASE, make sure each piece of advice on selling a house you find to your liking is followed!
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Tags: finance, home, investing, personal finance, real estate