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Alex Nova Real Estate Team
RE/MAX Allegiance
Team: 757-217-2929
Fax: 757-819-1200
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  Alex Tips for Sellers

 
Start with the best price. Your Alex Nova Team, Realtors sales representatives start marketing aggressively the first day your home is listed. Others, if they list high, may just wait 3 to 6 weeks, then come ask for a price adjustment. When this happens, you have lost the best selling period and window of opportunity.

For a competitive market analysis to determine the value of your property, please
click here

Prior to the showing, your sales representative can inform agents showing your property that you have priced the house at what you wanted, not at a high starting or asking price. At this point, a showing is scheduled, the buyer is seeing your house, and your home is being carefully and seriously considered.

Usually, buyers want the best, most attractively priced home they look at.

Pitfalls of Overpricing
When you overprice your home you run the risk of turning off the very people you need most to sell your home.

Overpricing makes it difficult to get:
· Salespeople excited.
· Qualified buyers to view property.
· Interested buyers to make an offer.
· Lenders to provide sufficient financing.

Pricing Myth and Reality
MYTH: The longer you are willing to wait, the more you will be able to sell the home for.

REALITY: Experienced real estate professionals will tell you that the longer a home is on the market, the more likely it is to sell below its real market value.

Usually, the best price a home will receive comes within the first 45 days. It is important to have proper pricing during this period.

Afterwards, enthusiasm and excitement wane, and a property is shopworn. Agents become reticent to show the property because of a concern that "there must be something wrong with it."

 Before you hire an Agent

  • Determine and communicate your priorities to your listing agent. For example, is getting the best price more important than finding a buyer within a certain time period? What does "success" look like to you? Spell out your thoughts and feelings as clearly as you can for your agent right up front. If your thought and feelings change during the sales process, don't hesitate to keep your agent informed.
  • Once you have signed the listing agreement, insist on continuous communications from your listing agent. For example, how many buyers have seen the house? Of these, how many have shown interest? What has prevented them from making offers? What marketing activities are on tap for your property over the next week or two? Is there anything you, the seller, can do to help the agent make viewing your home a more appealing prospect for buyers?
  • Ask your agent to see the marketing plan s/he has prepared for your property. Do you have additional ideas that may help the selling effort? Do you feel the marketing activities properly reflect the best aspects of your house and property? If not, do you have ideas that would help sharpen the marketing target, or otherwise help make the property more appealing?
  • Demand a candid response from your agent when you ask what changes or improvements you can make to increase the chances of getting your desired asking price. For example, are there some improvements that are more likely to have better ROI than others? Is there some feature of your house or property that seems to stop people from moving ahead?
  • If you have not had many offers from qualified buyers over a certain period of time, ask your agent to advise you as to how the marketing plan or pricing strategy can be modified to stimulate interest. For example, would the agent recommend lowering the asking price, or adding more attractive contingencies for the buyer? Can the marketing verbiage be altered to emphasize a particular feature that may be especially attractive to a targeted set of buyers? A good agent should act as a consultant, involving you in decisions, and letting you know the reasons for their suggestions.
  • Let the agent know now s/he is doing. If you feel that the agent, or the company s/he represents is falling short of stated commitments, say so. The more specific solutions and ideas you can offer, the better. If you have expectations you feel have not been met, let your agent know what you were expecting, and what changes you would like to see.

Preparing your home

The Outside

1. Clean Front Yard
- The first impression any agent or buyer has is of the outside of your home as they pull up to the curb. Toys and tools should be put away, and hoses should be put up properly. The lawn should be mowed, walks trimmed, hedges shaped (cut below any windows), trees pruned. Window screens and screen doors should be in place and serviceable.

2. Clean Façade - Window coverings should appear correct from outside. Wash the windows - try to make them sparkle. Also wash the window frames and screens. Porch lights and rain gutters should be clean and neat. The roof should not have any missing shingles or tiles. The house number should be clear and visible. If necessary, remove rooftop antennae and other unnecessary items in the yard or house.

3. Remove Clutter - Keep the garage door closed. If the garage is filled with lots of things and storage items, move them to a storage locker. Garages need to appear big and roomy. Also, motor homes, boats, trailers and extra cars visually shrink the size of a yard and home. It is a good idea to store these elsewhere during the home for sale period.

4. A Front Door That Invites You In - The front door is very important. It seems to have a much greater impact on buyers than seems reasonable. If you paint anything, it is recommended that you seriously consider painting the front door. Also, colorful, flowering potted plants near the front door and a nice welcome mat help. Now we enter the home.

The Inside

1. A Great Entry - The entry way needs to be very neat and clean. It make a big impact on buyers. Extra coats, jackets, gloves and umbrellas should be put away.

2. Get Rid of Clutter - One of the most important things you can do to sell your home for top dollar is to remove clutter before its first showing. An important part of the price is based on the size, or square footage, of the house. You do not want it to look like you have outgrown your home because there is not enough storage or square footage for all of your belongings and furniture. Do everything you can to improve the visual apparent size of your home. The best thing to do is to get rid of any extraneous furniture and put it in storage. Also, you should go through the house - all of the rooms, closets, cupboards, even the attic and basement, and, as noted earlier, the garage, and send as much as you can to storage.

3. Floors You Can Eat Off Of - Tile, linoleum and wood floors should be kept clean and in good condition. Carpeting should be vacuumed, and if necessary cleaned or replaced. Interior walls should be cleaned, and painted if necessary. Electrical and switch face plates should be repaired and cleaned.

4. High Wattage Lights Create More Space - It is very helpful to replace any low wattage bulbs with the highest possible safe wattage in every lamp and light fixture in the house. It is good to have at least three light sources in each room. The brighter a room is, the larger it will feel and appear. The more space you have to sell, the more money you will receive.

5. Sparkle From the Inside, Too - It was earlier recommended that you clean your windows, window frames and screens from the outside. It is equally important that you make them sparkle from the inside, as well.

6. Clean Rooms, Counters and Appliances - It is very helpful during the marketing period of your home, especially during the first 3-5 weeks, that you keep all rooms clean, including the kitchen and kitchen counters and sinks. The bathroom should be kept smelling fresh, with the toilet seat down. Sometimes, something as small as replacing a bathroom curtain can make a big difference in a buyers perception of your house. The kitchen is very important, and clean appliances, especially the stove, are necessary if a home is to sell quickly for its best price. Also, sometimes updating an outdated or broken light fixture can pay back ten times.

7. Get Rid of the Orange Formica and Avocado Appliances - There are some items that age a home significantly that are not too expensive too change or replace. It is wise to explore the options and if nothing else, at least be able to share with a buyer what it would cost to change a particular item.

8. Distractions - It is helpful in selling your home if items that could distract potential buyers be put away. This includes political signs and posters, rock music signs and posters, religious items, pictures of models, etc. Prospective buyers may or may not share your views and tastes, and could be offended. In any case, you want them focusing on your house, not being distracted by these other items.

9. Make it Smell Nice - Pets, smoking, cooking and mildew are all elements that can cause odors in a home. You may not notice these smells, but buyers may. These odors can be reduced by steam cleaning your carpets and upholstered furniture. Floors can be cleaned with a disinfectant. Clean ash trays and be very vigorous about keeping a clean, often-changed litter box. You can also cook a few cinnamon sticks in a pot of hot water or bake bread or cookies before an open house. You can create the illusion of fresh baked cookies by placing a dish of vanilla in a warm oven. You can also create a nice scent by sending a lemon through your garbage disposal.

For a competitive market analysis to determine the value of your property, please click here

 
RE/MAX Allegiance
575 Lynnhaven Parkway Ste 100
Virginia Beach, VA 23452
Last modified 9/8/2008