DRESS FOR SUCCESS IN TODAY'S HOUSING MARKET

When you're up against fierce competition in the job market, you might go out and buy a nice suit, polish your shoes, get a great haircut, and make sure you've got a resume that will "wow" the employer.

The same holds true when you're selling your home.  In today's Buyer's market, you need to pull out all the stops in order to draw Buyers to your home.

So how do you rise to the top in a sea of houses for sale?

1.   Set your price competitively from the very beginning.  It's self-defeating to "test the market" with an unreasonable listing price because you waste valuable and important marketing time.  The first 30 to 45 days are crucial, and the time when you're most likely to sell your home.  After that first 4 to 6 weeks, potential Buyers have seen your home over and over on the internet and begin to wonder why it hasn't sold yet.  Is it overpriced, or is there something wrong? 

2.    Think curb appeal.  A home shopper's first impression is everything.  The moment a potential Buyer pulls up to the curb, or sees that first photo online, they make an instant judgment.  Make sure leaves are raked up, shrubs are pruned, and toys and bicycles are out of sight.  Make sure your agent takes several photos of the front of your home and chooses one that showcases your home in its very best light.  A flat, boring shot of your home can make that Buyer pass you right on by.  It really needs to grab their attention and make them want to know more.

3.    Focus on the interior.  Make sure all walls are clean, and if necessary, add some fresh paint (and keep it neutral!)  Even though today's homes have interesting splashes of color, neutral colors are still the wisdom of the day when you're selling.  The last thing Buyers want to do is have to repair and paint walls.  And they especially loathe the idea of stripping wallpaper.  If they walk into your home and find clean, neutral walls, they're likely to choose your home over the one around the corner with the pink and purple daisy wallpaper in the kitchen.  If your carpeting is dated (either showing signs of wear or is an outdated color), strongly consider recarpeting those rooms.  If you can't afford to replace the carpeting, offer a carpet allowance to the Buyers.  But the better choice would be to replace it.  Remember - put your very best foot forward whenever possible.  

4.    Offer incentives.  Many Buyers today (especially first-time Buyers) can readily qualify for the monthly payment but are strapped for cash to pay for the down payment and closing costs.  Offering to pay for some or even all of the closing costs can be a very attractive incentive to Buyers who may be cash "challenged".  You can also "sweeten the pot" by offering the Buyer your riding lawn mower or your refrigerator. This can be a real motivator and could change your home from the Buyer's Choice "B" house to Choice "A".

5.    Get a professional home inspection before you put your home on the market.  Go ahead and take care of the repair items that were revealed in the inspection.  Your home will be marketed as having a "pre-purchase home inspection", and all repairs have been completed.  A Buyer will appreciate not having to go through the stress of all the "what ifs" and "unknowns" that go along with negotiating with the Seller over repair items.  This can be another compelling reason for a Buyer to choose your home over the one down the street that has not been inspected.  (Of course it should be made clear to the Buyers that they should have an independent home inspection of their own as well.)

6.    Be flexible on closing and possession.  In your marketing let the Buyers know you can give quick occupancy.  Be prepared in advance of your offer to stay in an apartment or with relatives if necessary until you are able to close on your new home.  This may give you a leg up on the Seller who need more time than the Buyers can allow.

7.    Clean and neat goes a long way to getting that SOLD sign up.  Get rid of all the clutter.  If you have oversized furniture, or too much furniture or knick-knacks, store them out of sight.  You may even need to rent a storage unit for awhile.  (We offer FREE use of our MOVING TRUCK locally to help our clients who need this service.)    Make sure there are no lingering pet or smoke odors.

8.    Set the stage!  Turn on the lights.  Open the blinds.  Set out some fresh flowers.  Turn on some light music.

Finally, be patient.   Don't be too hasty in reducing your asking price.  If you've priced home right and you're getting regular showings, your home should sell in a reasonable amount of time.  Your Realtor should provide you with frequent communication and feedback from the showings.  If the feedback is positive and the Buyers and/or Buyers' agents are saying that the home shows well and is priced in line with the competition, it's just a matter of time until you achieve success.