Sellers – What to Expect

A year ago, we saw far fewer “For Sale” signs. And this year, there are even fewer. The surprising thing about the real estate market is its resiliency. It never fails to surprise how decisively a market turns. When it’s time, it’s time. And it’s clear to us that 2014 is looking very good for sellers in real estate.

Overcome any possible objections a buyer would have.

Buyers are always looking for a reason not to purchase your house. Your job as a seller is to eliminate any potential objections that would stand in the way for a buyer to make an offer. If you really want to sell quickly, you’ll work hard to exceed the buyer’s expectation of your home as well. If your home is competitively priced, and your home’s condition exceeds a buyer’s expectations based on other homes in the neighborhood, you’ll get an offer — even if it isn’t the offer you want.

Get your home into selling shape.

Cleaning your home is absolute must. After that, we will help you stage your home to look as unlived in and magazine ready as possible. (Yes, they want your home to look like something they’d see on HGTV.) Assess what other sort of work needs to be done, such as fixing things that don’t work, touching up paint, or cleaning or replacing your carpets. Decide if you need to update your landscaping, and paint, clean or tuck point your home’s exterior.

Listen to our very informed market analysis (CMA)

We will give you a market analysis based on recently sold homes in your neighborhood and surrounding areas. We go back at least 6 months and up to a year depending on the amount of homes recently sold in your area. Its important to focus on one’s with similar square footage, number of bedrooms and baths to assess your homes value. Its also important to look at pictures and see what kind of finishes sold homes had such as granite counters, wood flooring vs. carpet, upgraded appliances that can attribute to their selling price. Also consider your listing price in comparison to how fast you would like to sell and the amount of attention you want. We will guide as best we can but ultimately the listing price is your decision.

Understand what it will take to sell your home.

If you live in an area littered with foreclosures, you may have to meet that price point in order to sell. Is it worth it? Probably not, but you’ll have to really evaluate price and timing in order to get the most for your property. If homes have begun to appreciate, you might be pleasantly surprised. Again, a CMA will be incredibly helpful.

Be realistic about the market.

Find out what types of properties are selling in your area and how many days they’re sitting on the market. Accept the reality of your local market and make sure you price your home realistically. Don’t blame your broker if you don’t get three offers over your list price within 24 hours of putting your home on the market. Sellers who set sky-high (or even pretty high) prices could wait months or years for an offer and may wind up with the same price they would have had if they’d priced their home correctly the first time — or a lot less. In this real estate market, one of the worst things you can do is overprice your home from the start. The more realistic you are, the better off you’ll be.

Rent if you can’t sell and buy at the same time.

We don’t recommend putting in an offer on another property until you have some serious interest in your current property or unless you have enough cash to cover the expenses of both properties for six to 12 months. It’s fine to start researching other neighborhoods, but if you’re not sure what you want to do, consider renting on a short-term or month-to-month lease. While a double move is a pain, and does have some added costs, it’s a lot cheaper than carrying two mortgages for two years.

Read all documents thoroughly before you sign them.

Why would someone sign a legal document he or she hasn’t read? I’m not sure, but home sellers do it every day. If you’re going to sell (or buy) in the coming year, promise yourself that you’ll take the time to read and understand the listing contract, offer to purchase and loan documents for your next purchase. Unless you’ve got cash to spare, a mistake in these documents and the warranties they contain could seriously affect your finances.

Don’t be greedy.

One big mistake many sellers make is to get a little greedy, particularly if the first offer is above the minimum acceptable price you’ve set. Then the negotiation becomes a game of how much you can get. Remember, a successful sale means everyone walks away feeling happy. If you get so greedy that the buyer walks away, you’ve let the deal get the best of you. Resolve to be reasonable and you’ll end up shaking hands with the buyer at the closing. You should also know that there aren’t unlimited buyers out there, and if you lose one it might take you quite some time to find another.

Call today for a FREE no obligation Certified Market Analysis (CMA) 713 614 3813