Step 1: Reason for Selling you Home
It is often more emotional to sell a home than to buy a home, after all it is where you have made your memories. Also the reason for selling your home may be a determining factor in the urgency of the sale. The urgency may also have an effect on the price of the property.
It is important to take the following factors that can influence the sale of your home into consideration:
Reason for selling
Condition of property
Design / style
Step 2: The Cost of Selling
It is very important to first calculate the expenses that may be incurred while selling your home. This knowledge is absolutely necessary because it helps you to determine a good price for the house, as well as the potential profit that you can realize.
The cost of selling your home may include things like:
Step 3: Price
The most important factor when putting your home on the market to sell is setting the right price. The price at which your property is marketed can make or break the deal.
Over-pricing of the property may result in:
A smaller buyers' pool
A prolonged stay on the market that will result in lower offers being submitted
Under-pricing of the property may result in:
You losing money on your investment
When setting the right price for your home you must take in to consideration the following:
1. A Comparative Market Analysis (CMA): We will provide a professional analysis that goes deep into stats about recent sales and current listings similar to your home in size, age, condition and features. Sales within the past six months are especially relevant.
2. General market conditions: Is it a seller's market or a buyer's market in your community. It's important to note that what's happening nationally may not reflect local conditions. We can explain the difference and clear up any misconceptions you may have.
At Promised Land Realtors we know home to accurately price your home and make it stand out in the market.
Here are a few avenues will use to market your home, both online and off:
1. Numerous photos: Studies show that buyers are more likely to visit a home that includes numerous photos of the listing. Well-lit, photos highlight your home's best features and important rooms.
2. Virtual tours or videos, Giving buyers an inside look at your property online can get them interested enough to schedule a showing.
3. In home packets with details about the property and surrounding neighborhood.
3. Home search websites: More than 75 percent of buyers start their home search online. It’s important that your listing receives full exposure in the FMLS and in search engine results.
4. Posting your listing on Craigslist, Facebook, can also be effective in reaching potential buyers.
5. Flyer box
Step 4: Location
Although you cannot do anything about the location of your property, it plays a very important part in the marketability of your home.
It is important to take the following into consideration:
1. Is your property priced in relation to other offers in your area?
2. What type of neighborhood is your property located in - well-established, up-and-coming, and transitional?
3. Is your property located in an urban or rural area?
Step 5: Condition of Your Property
The condition of your property is always a factor in how quickly your home sells. It's a fact: acquiring the highest market value and elevating your home above the others in the same price range often comes down to first impressions. Potential buyers get an impression of your home – either positive or negative – within 30 seconds of walking through the door.
Having them see your home in tip-top selling shape is an absolute must.
There are countless ways to put the freshest face on your home, many of them costing little more than a bit of your time. Here are a few pointers for the most significant impact:
Here are some inexpensive ways to maximize your home's curb appeal:
Keep lawn decorations to a minimum.
Apply fresh paint to any wooden fences and your front door.
Clean windows inside and out.
Wash or paint your home's exterior.
Ensure gutters and other exterior fashions are firmly attached.
Mow your lawn and trim shrubs.
Add bushes and/or colorful flowers.
Sweep sidewalks, porch and driveway.
Put all toys away.
Add a tasteful welcome mat to the front door.
Here are some inexpensive ways to maximize your home's interior appearance:
Clean everything! Check for cobwebs on ceilings, dust on baseboards – everything.
De-clutter. Then de-clutter again. Rent a storage locker if you need to. This is very important for increasing your home's appeal.
Add a fresh coat of paint to the walls or clean the walls and ceilings.
Clean all flooring and fixtures - lights, fans.
Repair all plumbing leaks.
Remove excessive wall hangings, furniture and extra personal goods.
Turn on all lights and open the drapes during the daytime.
Play quiet background music and infuse your home with a comforting scent.
Remove family photos and excessive wall decorations.
Remove personal items, such as DVD collections and trophies.
Replace worn carpets, and shampoo carpets that are dirty but still in good shape.
Polish wood floors.
Do a smell check and address any odors.
Pet owners: Take them with you while your home is being shown.
Vacate the property when and if it's being show to prospective buyers.
Step 6: Staging
Did you know well-placed furniture can open up rooms and make them seem larger than they are? Or, that opening drapes and blinds and turning on lights make a room seem bright and cheery? It's true, which is why staging your home to look its absolute best is an important factor in the selling process.
Step 7: Accessibility
Accessibility is a major issue in many parts of the world. Again you cannot do anything about your home's accessibility to specific things, but it does play a role in the price of your property. Your agent will work with you to highlight the places of interest that are most accessible to your home.
Here are a few important areas to think about:
Schools and other educational institutions
Outdoor areas - public pools, parks, playgrounds