Tips for Sellers:
The Five Fatal Mistakes that Most Home Sellers Make When Pricing Their Home
- Sellers often price based on "need" rather than the market.
- Sellers allow positive emotions associated with the property to influence their pricing decisions.
- Sellers use the "wrong" properties for comparison.
- Sellers improperly use the "negotiating cushion" stategy.
- Sellers take advice from the wrong parties...the "well meaning" but often uninformed.
Questions to ask that Help Make a House Sell Faster
- Does any part of the house need painting?
- Does the carpet need cleaning? How about replacing?
- Do any cabinets need to be touched up or refinished?
- Should I remove an ornate item that a buyer may want as part of the house? For example, a special chandelier? Or, a wall system?
- What is the buyer's first impression as they step inside my house? What can I do to improve it?
- Is there any furniture or item I could store or dispose of to make rooms appear larger?
- Since the buyer will be looking in closets, should I take some of the clothes out to make them look roomier?
- Are all light bulbs in working condition? Should I increase the wattage?
- Can I take items from the kitchen cabinets to make them more spacious?
- Are the garage and storage areas as clean and neat as they should be?
- What is the buyer's first impression of the exterior of our house? What can we do to improve it?
- Shall I reseed the lawn and get my landscaping in top condition?
- What about the door mats? Should I replace them with new ones that are neutral and omit our family's name?
- What about the screens? Any holes? What about the windows? Do they work well, or do they need attention?
- Are pets under control at all times?
- Are appliances in good working order?
- Does the house have a clean, pleasant smell?
- Should I "set up" the house prior to showing by turning on lights and music?
- Should I stay out of the prospective buyer's way?
- What can I do to help make the house sell faster?
Remodel or Sell?
|Project||Estimated Cost||% Recoverable|
|Add a full bath:|
To a 1/12 bath home
To a 2-bath home
|Add a half-bath:|
To a 1-1/2 bath home
|Add a bedroom:|
To a 3 bedroom house
To a 4 bedroom house
In existing space
Add on space
|Add a garage:||$3,500-6,000||up to 50%|
|Add a fireplace:||$1,500-3,000||up to 75%|
|Turn basement into a|
|$3,000-6,000+||up to 15%|
|Enclose a porch:||$5,000-6,000||50-60%|
|Install central air:|
|up to 75%|
|Install new heating plant:||$1,200-2,000||0-100%|
|Repaint frame house:||$1,000-2,000||30-80%|
|Install new exterior siding||$3,000-8,000||up to 75%|
|Add a pool:||$10,000+||0-40%|
|Add a patio:||$2,000-4,000||35-60%|
10 Reasons to Sell Your Home With a Realtor
- A realtor knows the local housing market and can help you set a fair market price.
- The Professional maintains objectivity in responding to buyer objections
- A realtor is primarily interested in bringing together buyer and seller to negotiate an agreement satisfactory to both parties.
- A realtor will advise prospects of all aspects and conditions of your home, even faults that you don't intend to correct. This protects you from later objections and if a buyer likes everything else, one objection need not be a serious drawback.
- A realtor is a skilled sales person who knows how to merchandise your home.
- A realtor is knowledgeable of current financing methods that allow prospects to become homeowners.
- A realtor frees you from the time, effort and not-so-obvious details involving the sale of your home.
- A realtor, by listing your home in a Multiple Listing Service, can work with many other realtors to assure you a fair wider range of prospective buyers.
- A realtor does a lot of homework- the home is listed, ads are placed, telephone inquiries are handled and appointments for showing are arranged with your convenience in mind.
- A realtor will initiate, carry out and follow through on every phase of the important and complex homeselling transaction.
Avoid the 5 fatal mistakes made by homebuyers!
- Ask the right questions?
- Act quickly on the right house!
- Package yourself and your offer so as to look great!
- Think resale BEFORE buying!
- Select the right agent!