9 step system to get your home sold fast and for top dollar
The Real Estate Market Has Changed….
“Buyers are far more discriminating, and many of the homes listed for sale don’t sell the first time. It’s more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money.”
It’s more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money.
The 7 Deadly Mistakes Most Home sellers Make
Selling your home is one of the most important steps in your life. This 9 step system will give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the home-selling process:
1. Know why you’re selling, and keep it to yourself.
The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale.
What’s more important to you: the money you walk away with, or the length of time your property is on the market? Different goals will dictate different strategies.
However, don’t reveal your motivations to anyone else or they may be used against you at the negotiating table. When asked, simply say that your housing needs have changed.
2. Do your homework before setting a price.
Settling on an offering price shouldn’t be done lightly. Once you’ve set your price, you’ve told buyers the absolute maximum they have to pay for your home, but pricing too high is as dangerous as pricing too low.
Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours. This means that they have a basis of comparison, and if your home doesn’t compare favourably with others in the price range you’ve set, you won’t be taken seriously by buyers or agents.
As a result, your home will sit “as an invisible listing” on the market for a long time and, knowing this, new buyers on the market will think there must be something wrong with your home.
Do your homework; in fact, your agent should do this for you. Find out what homes in your own and similar neighbourhoods have sold for in the past 6-12 months, and research what current homes are listed for. It’s called a “competitive market analysis”, CMA for short.
That’s certainly how prospective buyers will assess the worth of your home.
We offer 3 ways to find out value.... depending upon what you are going to do with it. Go here for more information.
3. Find a good real estate agent to represent your needs.
A significant percentage of homeowners claim that they wouldn’t reuse the agent who sold their last home.
Dissatisfaction boils down to poor communication, which results in not enough feedback, lower pricing and strained relations.
Read our How to Select your Realtor (10 Questions to Ask Before You Hire an Agent) gives you the straight, to-the-point questions you should be asking when you interview agents who want to list your home.
4. Maximize your home’s sales potential.
Each year, corporate North America spends billions on product and packaging design. Appearance is critical, and it would be foolish to ignore this when selling your home.
You may not be able to change your home’s location or floor plan, but you can do a lot to improve its appearance. The look and feel of your home generates a greater emotional response than any other factor.
Read “20 critical steps to help you sell your home” itemizes what you should do to get your home in top selling shape and get a “wow” response from your prospective buyers.
5. Allow the buyers to imagine themselves living in your home.
The decision to buy a home is based on emotion, not logic. Prospective buyers want to try on your home just like they would a new suit of clothes.
If you follow them around pointing out this improvement and that, or if your décor is so different that it’s difficult for a buyer to strip it away in his or her mind, you make it difficult for them to feel comfortable enough to imagine themselves as owner.
6. Make it easy for buyers to get information on your home.
You may be surprised to know that the two marketing tools that most agents use to sell homes (open houses and classified ads) are actually not very effective at all.
In fact, very few home buyers purchase their home as a result of calling on a classified ad, and even less are sold at an open house.
Furthermore, the buyers calling for information on your home probably value their time as much as you do. The last thing they want to be subjected to is either a game of telephone tag with an agent, or an unwanted sales pitch. Make sure your agent is easy to contact.
And remember, the more buyers you have competing for your home the better, because it sets up an auction-like atmosphere that puts you in the driver’s seat.
7. Know your buyer.
In the negotiation process, your objective is to control the pace and set the duration. What is your buyer’s motivation? Does he/she need to move quickly? Does he/she have enough money to pay you your asking price?
Knowing this information gives you the upper hand in the negotiation because you know how far you can push to get what you want.
8. Make sure the contract is complete.
For your part as a seller, make sure you disclose everything.
Smart sellers proactively go above and beyond the laws to disclose all known defects to their buyers – in writing. If the buyer knows about a problem, he can’t come back with a lawsuit later on.
Make sure all terms, costs and responsibilities are spelled out in the contract of sale, and resist the temptation to diverge from the contract. For example, if the buyer requests a move-in prior to closing, just say no. Now is not the time to take any chances of the deal falling through.
9. Don’t move out before you sell.
Studies have shown that it is more difficult to sell a home that is vacant – it looks forlorn, forgotten, simply not appealing.
It could even cost you thousands. If you move, you’re also telling buyers that you have a new home and are probably highly motivated to sell fast. This of course, will give them the advantage at the negotiating table.