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House for Sale 101: Basic Guidelines for Home Sellers

House for Sale 101: Basic Guidelines for Home Sellers

     
August 29, 2014  |  Real Estate

Planning on listing your home in the market? Seems overwhelming but it can be done. Today’s market is gearing towards more home buyers and several easy loan programs that buyers can take advantage of, so it is a win-win situation for both sellers and buyers. To put your property up for grabs is all about the right marketing and pricing. And yes, it will help make the job of selling way easier with the right people listing beside you. Getting acquainted with the basics of selling a home is essential, especially for first-time home sellers. Going back to the basics is just as important for those who have been in the market before. These five factors will help you sell your home in record time.   Price Your Home Right, From the Start Pricing can sometimes make or break the closing of a sale. You may not be able to control the buyers’ price range in their home search, but you can definitely control and decide (wisely!) on how much you can and will sell your home for. Find a good Realtor who will help you determine the correct price for your property. This can be done through a home valuation. The condition of the home is evaluated, with all the upgrades and improvements, and based on a comparative market analysis (CMA); your home will be compared to other similar homes in the area in terms of price range and marketability. The CMA will look at recent sales and those listings that fell through, as well as current listings to guide you price your home appropriately. As a home seller, you can get the most out of a home appraisal and land a bigger chance of a buyer meeting your actual selling price.

Related article: Preparing for your Home Appraisal

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Having the correct price is important to attract potential buyers without compromising value for your home and sacrificing your profits or sales as a seller. Listing with the right price is crucial early on because if priced too high, you could fail in the market without any offers. Even if you lower your price sometime after, you will have lost the momentum of the initial listing period and in doing so, will create a negative impression on your home. Why has it been in the market for that long? Why has been the selling price decreased? Is there something wrong with your home? Priced too low meanwhile and you have lost potential profit that you deserve. Sure, a time will come that you will sell, especially with a persistent, dedicated Realtor to help you. But do expect that most likely, the final sales price will be lower than your correct initial price would have been. Go for a Listing Specialist who can help you price your home correctly based on the current real estate condition in your area.   Home staging What’s your Home Like? Buyers have high expectations for finding the right home and they have every right to be. You were once in their shoes and you were as careful and deliberate in your search for a place you would call your home. Spending for a house can never be compared with buying any other material things. It’s like having a child to look out for, care for, and be a major part of your life. I guess that’s what big investments can do to our psyche. It is scary but exciting at the same time. So prepping your home to be in its tip-top shape is a favor you owe your buyer. It is also a pride you can wear in your sleeve – owning and living in a beautiful home for years and leaving gracefully with the place in an equally beautiful condition just as it has always been. While you don’t necessarily have to spend a lot of money to beautify your home, as a home seller who wants to close a sale as quickly as possible with a really good offer (full listing price and multiple offers, if possible!), you do need to raise the level of your home appeal with some sweat equity. Home improvement is a must. There are big time turn-offs for potential buyers and you have to be wary of these things. You must create a good and lasting impression to make a positive impact for home buyers in the market. No, make that an unforgettable impact to the buyers. There should be several soon to be home owners who can’t get your house out of their minds, enough to make them give an offer you can’t resist. Your Realtor should be able to suggest strategies in preparing your home for a sale. One effective way is home staging.

Marketing Your Home Effectively   Choose a real estate company or team that specializes in selling properties. In this way, you know that there is a lot of experience behind every step of putting your home in the market and statistics of successful sales to back you up. In other words, Listing Specialists who know what they are doing and will do the work for you in order to deliver the results that you want. There should be a marketing plan customized for you.

Is Your Home Available? One of the more challenging things of putting your home up for sale is that you must make it available to buyers as easily as possible. Some buyers have a preference of viewing a home without the owner there, so make sure there’s a lockbox at your property and that you allow nearly unlimited access to prospective buyers. Discuss this with your Realtor and see which methods of making your home available work for you best.

Overcome Challenges We have to accept that there are certain things we cannot control. Sometimes market conditions or a specific flaw in your home make it more difficult to sell as soon as you would like. Your Realtor or Listing Specialist can help you evaluate the market and let you know if you need to offer particular incentives, such as closing-cost help. You and your Realtor can collaborate on ways to emphasize positive aspects of your home and deemphasize any flaws it might have. If your house has a small kitchen for instance, then highlight the other bigger spaces in your home. It is all about the right staging and marketing, and drawing attention to the nicer, more attractive aspects of your home.

Selling your Colorado home? At The Blake Team, we are known for our expertise in selling homes within the Greater Denver/Aurora Area. We can also provide you with a free valuation of your home with absolutely no obligation.

Check out our Free Home Valuation Form  

About the author

The Blake Team is a full-service Real Estate team based in Aurora, Colorado specializing in working with Buyers & Sellers, foreclosures/HUD, short sales, and luxury properties. A team with years of experience and an impressive success rate that made it the No.18 real estate brokerage in the nation, as well as the No.1 Keller Williams agent in Colorado led by CEO & Founder Lisa Blake. The Blake Team is your No. 1 choice for getting your dream home!