Thursday, February 13, 2014

Selling a "hard to sell" home

If you’ve been waiting for your home to sell, it’s time to dig a little deeper to find out why you have had to wait. There are plenty of reasons houses don’t sell, most of which you might not have control over, but these two problems are an easy fix:

Price it Right

Overpricing your home is one of the most common real estate mistakes.  It can be difficult to separate emotions from the facts about a home’s worth, so some owners make their asking price way too high for the market based on sentimental value rather than monetary value. Some sellers price their homes based on the amount they need to pay off the mortgage and walk away with a good down payment on a new home, but unfortunately that is not a good strategy either.
Your home is worth what someone will pay for it. The best way to get an idea about that number is to compare recent sale prices of homes like yours in your area. A real estate agent can do that research by doing a comparative market analysis (CMA). A CMA will help you set a price that will bring in buyers.

Get it "show" ready

Another area to consider is your home itself. If it isn’t "show"ready by the time the for-sale sign goes up , there’s work to be done! First, get rid of clutter; you don’t want potential buyers to be so distracted by dust bunnies or nick knacks that they miss out on  your home’s best features.
And speaking of your home’s best features, it is not some odd painting or decoration that you love.  Everyone has different taste, so ditch the extra "stuff."  You want to make it easy as possible for buyers to picture your house as their home and that can’t happen until you have a a blank canvas. That means put away your personal effects and make room for the buyer’s imagination.
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Thursday, February 6, 2014

Reasons not to sell your home on your own

Before trying to sell your home on your own, consider some reasons it may make sense to higher a Realtor:

Dealing with negotiations

You will not just negotiate with  buyers on the price of your home.  You will deal with their agent, their attorney, their home inspector (if there are issues with the home which there always are) , the appraiser (if he/she questions the value), and the buyer's bank.

Internet exposure

These days almost ALL buyers start shopping for a home online (about 92%).  Sure, you can throw it on MLS or Craigslist, but a good agent pays good money for premier space on popular sites like, Trulia, and Zillow.  Trulia and Zillow are among the top apps for real estate searches in the United States.  To put it into perspective, here is where buyers find the home they actually purchase:
  • 43% on the internet
  • 9% from a yard sign
  • 1% from newspapers
Having a strong internet strategy is an integral part of marketing your home.

FSBO'ing has become increasingly difficult

Since industry regulations have become tighter in the past few years, the paperwork involved in selling and buying a home has increased dramatically. This is one reason that the number of FSBO's have dropped 10% in the past 20 years.

You will walk away with more money using an agent.....really!

Homeowners believe that they will save the real estate commission by selling on their own.  The catch?  Most buyers looking at FSBO's are looking because they believe they can save that amount off asking price because you are not paying a real estate commission.  Note: People are usually more likely to FSBO in markets with lower price points.

In conclusion: Before trying to take on the task of selling your home on your own sit down with a Realtor and know all of your options.   You will most likely end up saving time, money and a lot of headaches.
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