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Free CMA for your Home
First impressions are probably more important in selling your house than almost any other factor, except the price. So when you put the house on the market, it will pay to get it in tiptop shape. Deciding to let a reputable real estate agent sell your home is a wise decision. Real estate is a field where it pays to use the services of a professional. Rosamond Properties can save you time, get the most money for your property, and can help with details you probably wouldn't consider.
The following information gives you tips on how to price your home, readying your home for sale, and finding a buyer.
Setting the Listing Price
Pricing your home is both an art and a science. Achieving the optimal price is the result of objective research into comparable properties and a feeling about your property and the current market.
The Right Price Should:
- Attract buyers
- Allow you to earn the most money possible
- Help you sell as quickly as possible
The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. It's important to remember that, although the price is set by you, the value of the home is determined by the buyer.
Overpricing is a common mistake that can cost you in the end.
The Importance of Proper Pricing
- Faster sale and less inconvenience
- Exposure to more buyers
- Increased realtor response
- More advertising/sign calls
- Attracts higher offers
- Means more money to seller
- Avoids being "shopworn"
What really matters is how your home compares to others currently offered for sale and recently sold in your neighborhood. Buyers will be comparing.
Common Reasons for Overpricing
- Over-improvement
- Need
- Purchasing in higher priced area
- Original purchase price too high
- Lack factual data
- Bargaining room
- Move isn't necessary
- Assessed value
- Emotional attachment
- Opinion of family and neighbors
Dangers of Overpricing
Most of the activity on your home will occur in the first few weeks.
Pricing a home properly and then creating immediate urgency in the minds
of agents and buyers is critical.
Buyers who have seen most available homes in their price range are
waiting for the "right house" to come on the market. That's why is a house
is priced right, it will sell quickly. The buyers are there waiting for
it.
Don't start with a high price and the assumption that you can reduce
it later. By the time you decide to lower the price, it may be too late,
as interest will have already waned.
A major cause for concern is appraisal problems; overpricing can
lead to loan rejections and lost time.
Even if your home is nicer than other homes in the same area, your
house won't be picked for viewing if you set the price too high.
Buyers and agents become aware of the long exposure period and often
are hesitant to make an offer because they fear something is wrong with
the property.
Attracting the wrong buyers.
Fewer potentially qualified buyers will respond.
You might help sell similar homes that are priced low.
You could lose money as a result of making extra mortgage payments
while incurring taxes, insurance and unplanned maintenance costs.
The Role of a Real Estate Agent in Pricing
Provide you with a comparative market analysis (CMA), a comparison
of the prices of recently sold homes that are similar in terms of location,
style, and amenities. A CMA is performed by comparing previously sold homes
in the area, and currently active homes to know your competition.
* There is no "exact price" for real estate
* I don't tell you what I think your home is "worth"
* The market determines value…together we determine the price
* You determine the price based on the factors you control:
- Marketing time
- Financing alternatives provided
- Condition
- Exposure method
* Keep in touch with market trends and current market activity of
comparable homes
* Estimate your net proceeds
* Help to determine offering incentives
An agent has NO control over the market, only the marketing plan.
Never select an agent based on price.
Rosamond Properties have up-to-the-minute information about the market.
We know what properties like yours are selling for. We can point out other
features that add value to your property, such as favorable location, convenient
transportation or popular architectural design. We can help you to quickly
arrive at your best asking price.
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Locating Buyers
There's more to finding buyers than putting a "For Sale" sign on your lawn. And a "For Sale by Owner" sign has serious drawbacks. Prospects and curiosity seekers alike can ring your doorbell at all hours without regard to your convenience. And they'll expect you to answer difficult questions about financing, settlement, etc.
Rosamond Properties can screen prospects in advance and show your home only to those who have the interest and ability to buy. We won't waste your time with someone who's not a serious prospect. Rosamond Properties already has a list of buyers who are looking for properties like yours. We know where to place ads for best results, how often to run ads and how to word them for maximum effectiveness. We can continue with the selling job even if you're out of town for awhile.
Bargaining
The buyer usually offers less than you're asking. At this stage of the sale, Rosamond Properties knows how to bargain easily and effectively, and is experienced at making counter offers and discussing price, amount of cash, date of delivery of the deed, amount of mortgage and other important business matters. Simply stated, Rosamond Properties will make sure the sale proceeds smoothly and quickly as possible, at the best price.
How You Can Help Your Broker
While Rosamond Properties can provide invaluable services to you in selling your home, it's up to you to cooperate with your broker's sales efforts by making sure your house looks its best.
First impressions are probably more important in selling your house than almost any other factor except the price. So when you put your house on the market, it will pay to get it in tiptop shape.
Look at your property as if you were a prospective buyer. Pretend you're seeing it for the first time and try to notice its highlights and drawbacks. Then start sprucing up in order to emphasize and add to the good points.
That's often easier said than done, however. It's easy to overlook something unless you spruce up systematically. So we have prepared the following checklist that can help virtually any property look its best.
Proceed critically down the list. Check off the items that apply to your house. If an item calls for an expenditure, your broker can help you decide whether it's worth the investment.
Outside
Trim shrubs
Mow lawn
Weed flower beds
Edge lawn
Repair walk, driveway
Repair porch, steps
Clean porch light, lamppost
Shovel walk, driveway in winter
Clean siding
Paint trim, front of house
Paint sides, back of house
Repair roof, gutters, downspouts
Paint front door, mailbox
Repair/replace storm door
Clean/repair screens, storm windows
Clean/paint/repair garage - dispose of what you don't intend to
keep
Inside - general
Paint where necessary
Clean/fix windows
Clean/polish floors
Replace burned out light bulbs and brighten lighting with more
powerful bulbs
Make sure doors, windows are operating freely - lubricate with wax
if necessary
Fix squeaking floors
Fix light switches
Repair/repaint cracked walls, ceilings
Fix faucet drips
Clear clogged drains
Clean fireplace, lay logs for fire
Straighten all closets
Use room deodorants to remove mustiness
Vacuum/shampoo rugs
Clean/polish heating elements - furnace, boiler etc.
Neaten up, throw away what you're not going to move
Kitchen
Clean/paint cabinets
Use bright curtains
Clean ventilating hood, fan
Repair/clean/wax floor
Clear off counter tops to make kitchen look spacious and neat
Make sure drawers slide smoothly
Put appliances out of sight, stack items neatly in cabinets
Clean/polish appliances - inside and out
Bathroom/powder room
Put out fresh towels
Clean fixtures, tub, toilet
Replace toilet seat
Clean shower curtain
Bedrooms
Make beds
Use most attractive bedspread, curtains
Living room/den
Plump cushions
Stack newspaapers, magazines
Clean television screen
Dining room
Polish table, buffet, etc.
Clean glass in china cabinet
Make sure chair seats are in good shape
Laundry area
Remove hanging clothes
Put away powders, sprays, etc.
Clean/polish washer, dryer, tub
Let the Broker Sell
If you and your family are at home when the broker brings in a prospect, relax and let the expert show and tell. Don't tag along. Answer questions carefully when they're asked, but don't offer answers to unasked questions.
If you've looked at your house like a buyer and attended to the items on our list that apply to it, your house will sell itself - with help from the friendly staff at Rosamond Properties, of course.