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At first, selling your home seems daunting: Most of you haven't sold a home before, the market looks complex, and what worked for owners 10 or 20 years ago seems inappropriate today.
What steps should you take? Here's a simple list to get you started.
1. Define your goal. Do you want the highest sales price? The bottom line: to have a successful sale you need to look at both price and terms -- you must have a strong negotiator in your corner.
2. Times have changed. Today's real estate marketplace is radically different when compared with that of 10 years ago. Purchasers now use the Internet, get architects, civil/structural engineers, professional valuers etc. in the process and are routinely represented by buyer brokers. The result is that buyers are generally better prepared than in the past.
3. Sparkle and shine. Imagine going to a supermarket and seeing dusty fruit or aisles filled with old shelving and cans. You are turned off. You must make sure your potential buyer will not be similarly turned off. Get rid of things you don't want to move, organize closets and storage areas, and keep things clean. Presentation matter.
4. Mechanics count. Buyers expect everything to work. Fix and paint things now and they won't be an issue in the future.
5. Set the stage. When buyers see your home, it's ‘Showtime’. They want an environment that they can relate to. De-clutter and hide knick knacks that will distract them from dreaming their dreams. Given them a show where everything is painted, arranged, and attractive; a home where the only issue is when to move in.
6. Know the market. Real estate is local. Your Real Estate Professional can explain current market trends in your community, including what's selling, what isn't selling, why and why not. This information is central to getting the optimal price and terms.
7. Know the competition. Your property will be competing with other homes for buyer attention. Ask your Real Estate Professional how to be competitive -- and how to have an edge.
8. Be realistic. Markets differ by location and time. When interest rates are low it's great to be a seller. However when times are slack and mortgage rates are rising, homes also sell. The trick is to be realistic, to get as much as market conditions will allow. If there are 1000 home sellers catering to only 300 prospective home buyers, 700 houses will not get sold. Think carefully.
9. Have a plan. Real estate marketing involves far more than an ad in the paper. Successful Real Estate Professionals use a variety of methods to attract and qualify prospects, including the latest Internet and communication methodologies.
10. Have your documents in order. Many real estate transactions fall through at the final hour due to unavailability of important connecting documents on time. Obtain a title report if possible. Ensure you have a copy of each and every document referred to in the title report in your file. Apply for local authority documents and have them up-to-date. You have to impress your buyer’s lawyer with the completeness of your file. |