The Five Fatal Mistakes that Most Home Sellers Make When Pricing Their Home

1. Sellers often price based on "need" rather than the market.
2. Sellers allow positive emotions associated with the property to influence their pricing decisions.
3. Sellers use the "wrong" properties for comparison.
4. Sellers improperly use the "negotiating cushion" stategy.
5. Sellers take advice from the wrong parties...the "well meaning" but often uninformed.
   

1. Does any part of the house need painting?
2. Does the carpet need cleaning? How about replacing?
3. Do any cabinets need to be touched up or refinished?
4. 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?
5. What is the buyer's first impression as they step inside my house? What can I do to improve it?
6. Is there any furniture or item I could store or dispose of to make rooms appear larger?
7. Since the buyer will be looking in closets, should I take some of the clothes out to make them look roomier?
8. Are all light bulbs in working condition? Should I increase the wattage?
9. Can I take items from the kitchen cabinets to make them more spacious?
10. Are the garage and storage areas as clean and neat as they should be?
11. What is the buyer's first impression of the exterior of our house? What can we do to improve it?
12. Shall I reseed the lawn and get my landscaping in top condition?
13. What about the door mats? Should I replace them with new ones that are neutral and omit our family's name?
14. What about the screens? Any holes? What about the windows? Do they work well, or do they need attention?
15. Are pets under control at all times?
16. Are appliances in good working order?
17. Does the house have a clean, pleasant smell?
18. Should I "set up" the house prior to showing by turning on lights and music?
19. Should I stay out of the prospective buyer's way?
20. What can I do to help make the house sell faster?
    

Project	Estimated Cost	% Recoverable
Add a full bath: To a 1/12 bath home To a 2-bath home	$5,000-10,000	80% 50%
Add a half-bath: To a 1-1/2 bath home	$2,000-3,000	60%
Add a bedroom: To a 3 bedroom house To a 4 bedroom house	$6,000-$8,000+ In existing space $10,000-15,000 Add on space	75-85% 65%
Add a garage:	$3,500-6,000	up to 50%
Add a fireplace:	$1,500-3,000	up to 75%
Turn basement into a recreation room:	$3,000-6,000+	up to 15%
Enclose a porch:	$5,000-6,000	50-60%
Install central air: room units:	$2,500-4,500 $ 500-1,000	up to 75% 0-50%
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%
Landscape:	$500-2,000	40-60%
Add a pool:	$10,000+	0-40%
Add a patio:	$2,000-4,000	35-60%

1. A realtor knows the local housing market and can help you set a fair market price.
2. The Professional maintains objectivity in responding to buyer objections
3. A realtor is primarily interested in bringing together buyer and seller to negotiate an agreement satisfactory to both parties.
4. 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.
5. A realtor is a skilled sales person who knows how to merchandise your home.
6. A realtor is knowledgeable of current financing methods that allow prospects to become homeowners.
7. A realtor frees you from the time, effort and not-so-obvious details involving the sale of your home.
8. 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.
9. 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.
10. A realtor will initiate, carry out and follow through on every phase of the important and complex homeselling transaction.
    

1. Ask the right questions?
2. Act quickly on the right house!
3. Package yourself and your offer so as to look great!
4. Think resale BEFORE buying!
5. Select the right agent!