Whether your house has been sitting on the market or your planning on putting it up this spring, the more salable your house is the better it is for you. You want more money and short market times, so you need to get competitive to make your home’s value stand out above the rest. Use these tips to give your house the competitive advantage to get your home sold.
- Price! Trying to sell a home for $700,000 when like homes go for $525,000 is a sure way to fail. The days of “testing” the market with huge price increases is finished. Overprice and you may end up selling for less than you would if you priced it properly in the first place.
- Go for the junk – and get rid of it. A house with less stuff looks bigger and roomier. If what you want to throw out can have value to others, see if you can help by donating goods to local charities.
- Use the best local broker you can find. Experience, connections and reputation can be a real edge when marketing a property.
- Require your broker to have a marketing plan that makes sense for you and your property. Be sure that it includes internet marketing as well as the more traditional methods.
- If the home doesn’t sell within a reasonable time period, think about changing the deal rather than lowering the price. In other words, rather than cutting the price from $500,000 to $480,000, instead keep the $500,000 price and offer a 2 percent “seller contribution” to help a buyer pay for closing costs. This approach is cheaper ($10,000 in closing cost help rather than a $20,000 price reduction) plus it gets to the real need of many buyers, closing assistance.
- Have a home equity line of credit in place – even if you don’t expect to sell for several years. This way you can have funds available if you want to buy a replacement home while the current property is being sold. Just be aware of the risk – if your current home does not sell in a reasonable period you could face lots of mortgage payments.
- Make sure everything works – and nothing leaks. Expect buyers to ask for a home inspection and be prepared to make reasonable repairs if requested. Remember that it may be better to upgrade an electrical service box than to look for a new buyer.
- Find out what buyers thought after a showing or open house. Don’t take negative comments personally. Look for ideas that can help you make a better impression with the next prospect.
- Don’t get upset with small inconveniences. If a prospect wants to see a home with little notice or at an odd hour, don’t worry about it. It’s better to show the property than to have a home which is both undisturbed and unsold.
In today’s market it’s the homes that have multiple competitive edges that get sold. For more advise on getting your home sold call Helen today at 847.967.0022 or email [email protected].