Lets face it, in today's market, it is harder to attract and maintain potentially solid buyers. Cheer up! There are more steps you can take to add a little sizzle and luster to your home.
In a slow market ( like now ), sellers often list their homes at what they believe is a realistic price but assume they'll have to lop off a few thousand to get the deal done. Would you do better by lopping the money off the top and listing your home for less. Probably not. Price cuts may be taken for granted in bad markets, and the buyer Will probably offer less than your asking price anyway.
Instead, look for ways to HELP the buyer! Thats right I said it. HELP THE BUYER! Don't automatically shy away from unconventional deals. Perhaps you could have your home inspected and repaired before putting it on the market.
The key to success is to start with inexpensive and risk free enticements, then follow u as you need to with more complex strategies to custom-design an approach that will sell your house. Get your house really ready. Go beyond fresh paint, spotless floors and a perfectly groomed yard by offering a Home Warranty, Inspetions and, in some cases, repairs.
Get You Home INSPECTED!
Having your home inspected before you list it can pay off because you have time to decide what to do about a problem before a BUYER finds it. Ask the home inspector for repair recommendations on these big ticket items: ROOF, HEATING AND AIR CONDITIONING SYSTEMS, SHINGLES, FOUNDATION, BASEMENT, OR CRAWL SPACE, STRUCTURE, ELECTRICAL AND PLUMBING SYSTEMS. Should YOU FIX THE PROBLEM OR CUT THE PRICE. Find out what it will cost to correct the problem and compare that to what a BUYER may ask for. Keep in mind that Buyers often insist on an discount that is more than the cost of the repair. If you offer to pay for the repair, your motives may be suspect. You may get a green light, but with conditions if a buyer believes you'd have the repairs done too cheap and with the wrong contractor.
Your AGENTshould be able to give you the names of home inspectors in your area, or you can look most of them up in the yellow pages or Internet. Find an inspector that is a member of ASHI ( AMERICAN SOCIETY OF HOME INSPECTORS). They are sworn to higher standards and code of ethics.
Expect to pay 250-500 for a qualified inspection, depending on your area. You maybe able to defer payment until closing , even if you hire an inspector on your own. Some REALTORS could also arrainge this for you if you are uncomfortable asking for these terms. Remember WE work for you and in your BEST INTEREST!
OFFER AN ALLOWANCE FOR DECORATING!
Say you've spruced up the place along the lines suggested but along comes a couple who love the house but hate the carpet and can;t stand your choice of Wallpaper. Offer a decorating allowance- to be paid at SETTLEMENT-COVERING ONLY THE AGREED ON REDECORATING EXPENSE. Just keep an open mind and remember for-most that not everyone has your taste in trim and color choice.
CONSIDER A HOME WARRANTY POLICY
This protects the buyer by paying for certain repairs and costs of replacing heating and air conditioning systems, major appliances, in the case of failure, after the sale. REMEMBER: THE MORE YOU CAN MAKE YOUR BUYER AT EASE AND COMFORTABLE IN THE WHOLE BUYING PROCESS WILL GO A LONG WAY TO MAKE IT CLOSE. LETS FACE IT, SOME PEOPLE FEEL THE SAME WAY WITH BUYING A NEW CAR FROM A PUSHY SALESMAN. THAT'S THE LAST THING YOU WANT! COMPLETE TRANSPARENCY IN YOUR TRANSACTION WILL GO A LONG WAY TOWARDS SETTLEMENT. Hopefully ALL the way to Setlement.
TARGET YOUR BUYERS
Ordinary ads are of little use when buyers are scarce. So are fliers and the other scatter-shot approaches. What you need is something to CATCH THE BUYERS EYE! Something that makes YOUR HOUSE STAND OUT FROM THE REST!That ma be as simple as paying for a larger classified ad, for one example. Today's day and age, Make sure your AGENT features your home on the Internet and insure it's Internet presence is great and impressive. Lets Face it, in today's world, over 70% of buyers surf the Internet for listing on their own time at home. MAKE SURE YOUR BEING SEEN FIRST AND FOREMOST!
OTHER QUICK TIPS
1- Buy Down the Mortgage Rate- A VERY powerful tool to reduce the buyers interest rate. Not complex and keeps you from lending directly. Speak to your Realtor about the cost associated with this type ATTRACTION. THINK ABOUT IT! If you could save your BUYERS money EVERY MONTH, Why wouldn't they be more inclined to buy your home instead of your neighbors.
2-PAY A FEW MONTHS OF THEIR MORTGAGE!- Yes I Said it. Offering to pay the first 3 months mortgage payments could be really enticing to buyers going usda, fha or basically any other financing terms. It could also be a great bargaining chip when the buyer is asking for 6% for closing costs. Do The Math, It saves money and most of all IT WORKS! ALWAYS, ALWAYS get it in writing and signed!!!!!!!!!!!!!!!
3-OFFER HELPING COVERING CLOSING COSTS- Some buyers will love your home but may be shy of the 20% needed to cover the down payment. Don't let them walk! Offer to help if possible with a portion of the closing costs.
4- PAY PROPERTY TAXS- Who in their right mind would not love the idea of someone else pay our property taxs for us? This is an Awesome bargaining tool. Let your AD read: NO PROPERTY TAXS FOR 2 YEARS! PAID BY SELLER. Ever see that? I have and every time when the right homework it done the home sells under 60 DAYS!
5- CONSIDER ADDING INCENTIVES TO BUYERS AGENTS! Lets face it money drives a lot people. Sadly there are few in this business that see dollar signs in everything. Offer a $2000.00 Buyers Agent Bonus to get more agent to bring ( YES ) MORE clients through your front door! Sounds a little off but does it really matter if your house sells instead of the one down the street.
6- HIRE THE BEST- Agree to pay a larger commission to a top selling agent with a track record of selling homes fast in a bad market.
7- Negotiate a shorter contract- Keep you listing contract to 90 days max. IF your agent cant get it done by then , find another one.
8-INSIST YOU HOME BE LISTED ON THE MULTIPLE LISTING SERVCE WITHIN 24 HOURS
9- MAKE SURE YOUR AGENT IS KNOWLEDGEABLE IN THE MULTIPLE AND VARIOUS FINANCING OPTIONS OUT THERE. DON'T GET STUCK WITH THE CONVENTIONAL COOKIE CUTTER AGENT THAT JUST KNOWS HOW TO SELL A HOME AND LEAVES EVERYTHING TO EVERYONE ELSE TO PUT TOGETHER. YOU WILL NEED STRONG GUIDANCE IN THIS AREA, SO MAKE SURE YOU HAVE THE RIGHT REALTOR FOR THE JOB
10- MAKE SURE ALL OFFER RECEIVED ARE FROM PRE-QUALIFIED BUYERS!This still happens in todays market, Newer Agent forget to have clients pre-qualified before showing home. This is a really big time saver, no one want to receive an offer and then find out the Buyers are NOT able to purchase your home for any reason.
11- Check to see if your home qualifies for USDA ( Rural Housing ) or some other type of special financing before putting on the market. USDA finances upto 102% with NO MONEY DOWN, but has restrictions on the distance from the city limits.
12- Check out the guidelines for FHA funding. They offer lower down payments, lower interest and flexable payment arraigments if bad time occur after the sale. Make sure your home is up to par with FHA standards. Your home inspector and Realtor can assist you with this.
13- BE PATIENT AND KEEP AN OPEN MIND TO ALL NEGOTIATION AND OBSTICALS. REMEMBER THEY ARE NOT AIMED AT YOU PERSONALLY IT IS JUST PART OF THE BUYING/SELLING PROCESS.
14- KEEP IN TOUCH WITH YOUR AGENT AT LEAST EVERY OTHER WEEK. WE ARE HERE TO GUIDE YOU THROGH SELLING YOUR HOME.
15- REMEMBER LOWERING YOUR SELLING PRICE IS NOT AN INSULT BUT AN IMPROVEMENT ON YOUR CHANCES IN SELLING YOUR HOME. SERIOUSLY CONSIDER ALL THE ADVICE YOUR REALTOR GIVES YOU, IT IS OUR JOB, OUR CAREER AND OUR PROFESSION.
GOOD LUCK TO ALL WHO ARE SELLING, I ONLY WISH THIS ADVICE WILL HELP YOU SELL YOUR HOME WITH GOD SPEED.
IF YOU HAVE ANY QUESTIONS OR WANT ADDITIONAL ADVICE ON ANY TOPIC INVOLVING REAL ESTATE TRANSACTIONS FEEL FREE TO EMAIL ME DIRECT AT WWW.BERKSREALTOR@YAHOO.COMOR VISIT MY WEBSITE AT WWW. TBRINTZENHOFE.TOPPRODUCERWEBSITE.COM
THANKS FOR READING
