Top 10 lists are immensely popular blogs because they give people a bullet point list of things they need to know right away. Some of these seem like logical do’s and don’ts, but think again. We would not be writing about them if they did not occur day in and day out. We have split our very popular list into Sellers and Buyers. Today is part one with our do’s and don’t for anyone selling a home.
1 – DO PRICE YOUR HOME TO SELL! Pricing your home right in the first 30 days is critical. Just because your friends and neighbors have told you your home is worth a lot more doesn’t mean it’s true. Your neighbors have an interest in you selling your home at a higher price and your friends want to be nice. What are they going to tell you…”it’s worth less?” Base the price of your home on good data driven information provided by a competent Realtor.
2- DON’T SWEAT THE SMALL STUFF! The public remarks in the MLS don’t say anything about the fact the fence in the back is just two years old and it’s large enough to park an RV. While that’s good it’s NOT going to sell the home. When a buyer walks into your home they need to answer three questions A. Do I love the location, B. Do I love the layout and finishes, C. Do I think it’s appropriately priced for both A&B? If they answer YES to all three questions, you are getting an offer. If they answer NO to even one of those questions, you are not getting an offer. It’s as simple as this!
3- DON’T JUST HIRE ANY AGENT OR THE LOCAL NEIGHBORHOOD EXPERT. You have heard me say this before the local neighborhood expert may not be the best Realtor for the job. You want the Realtor that offers the best results!!! Which Realtor has the best marketing? Which one sells the most homes? Which one sells for a higher percentage of asking price? Which one sells them the fastest? Which one is going to get you the most money? Which one has the professional experience to get the transaction to close smoothly or with the least amount of headaches?
4- DO MAKE ADJUSTMENTS WHEN NECESSARY! If your home has been on the market a while and you have no offers, what adjustments are you ready to make? Take a good objective look at feedback and start to make adjustments where necessary. Sometimes, there are some updates, that are easy to make, to have your home show better. Most of the time a price adjustment will fix all ills. This is not just some Realtor speak either. Listen to the market. If the buyers are telling you that your home is overpriced…they’re right. Buyers have their finger on the pulse of current market conditions better than you and I combined.
5- DO GO INTO THE SALE OF YOUR HOME WITH A WIN-WIN ATTITUDE! If you are going to sell your home get comfortable with the fact that you will need to compromise. There will be some give and take on the price, the terms, and conditions. There will need to be some additional compromise on the inspection items, as well as, other issues that will come during the course of the transaction. This is not a one-sided transaction. This should be a win-win for both parties when all is said and done. Anything less than this only hurts you in the form of stress, time, and money.
You may disagree with my first five seller do’s and don’ts but, like it or not, they come from years of experience and being involved in thousands of transactions. I pass along this advice only to make your real estate experience smoother, more enjoyable, and better, yet more profitable. Please join me next week for the final five buyer do’s and don’ts.
