Pricing
Pricing your home to sell
Professional appraisers sum up their entire body of knowledge
in three words - "Buyers Make Value."
As your real estate agent, I can give you up-to-date information
on what is happening in the marketplace and the price, financing,
terms, and condition of competing property
When listing your property for sale, require your agent
to be candid with you. Most agents simply don't want to tell
the seller the true value of their home, if it's obvious
the seller wants more than it's worth. By allowing your agent
to be completely honest with you, you'll save time and money.
Consider the market analysis carefully with your agent...The
numbers should make just as much sense to you as they do
to your agent, the appraiser, and most importantly potential
buyers.
Remember! Your home is worth as much as a buyer is willing
to pay for it. Sometimes the home is simply worth more to
the seller than it is to the buying public. If the property
has been on the market for more than 4-5 weeks, with few
prospects coming to see it or those that have seen your home
do not make a second or third visit and no offers have been
submitted, you've been given a clear message that the property
may not be worth what you're asking for it. What you do at
that point depends on whether you really need to sell, and
whether you're working with a time limit.
If you're not really motivated to move soon, you can always
wait - years if necessary - and hope inflation will catch
up with the price you want. The problem is that in that time,
your home begins to feel shopworn. Buyers become suspicious
of a house that has been for sale for a long time. If, however,
you really do need to sell, I understand the marketplace
and how to price it right. There's no point in saying, "We
simply can't sell our house." It will sell when the
price is right.
Tips on Showing
Each property has just one chance to make a great impression
with a potential buyer. Keep up with cleaning and tidiness
every day to ensure that the property is ready to be shown
to potential buyers, even on short notice. In other words,
keep the property in “Show Time” condition, so
that it’s always ready to make the great first impression
that can make the sale!
During the Entire Marketing Period
Keep the landscaping neatly trimmed, weeded and free
of debris and clutter.
Add a new front door mat; keep walkways, driveway and front
door entry area clean.
Clean outside lighting fixtures; make sure the doorbell
works.
Repair anything that is not in proper
working order, including loose doorknobs, broken door locks,
leaking taps and toilets, squeaky doors, closets or screen
doors
that go off their tracks.
Repair any broken windows, fogged or leaking windows or
windows that don’t
open and close properly.
Quiet squeaks or noisy appliance fans with a squirt of lubricant.
Keep kitchen spotless and fresh smelling at all times --
regularly grind a quarter of a lemon in the garbage disposal
and keep fresh boxes of
baking soda in refrigerator and freezer.
Unclutter kitchen counter spaces, pantry and cabinets and
under sink area.
Remove items hanging on the refrigerator.
Make sure all kitchen appliances are spotless inside and
out.
Make sure all appliances and systems are in perfect working
order.
Keep bathrooms spotless and fresh smelling! Place all personal
care items out of sight. Tile, fixtures, shower doors, tubs
must be shining and immaculate. Remove all rust and mildew
stains; neatly recaulk around the top edges of the tub, countertops,
etc.
Place dishes of potpourri in rooms throughout the house
or add a drop of vanilla or bath oil on light bulbs for scent.
Keep windows, windowsills and all light fixtures clean.
Don’t forget the storage and car parking areas – keep
them
organized, neat and tidy.
Keep all pet areas clean and odor-free; change litter box
frequently!
Secure jewelry, cash and other valuable.
Before Each Showing:
Open all drapes, shades and blinds and turn on ALL lights.
Pick up clutter.
Make beds and put away clothes and shoes.
Give floors a quick vacuuming.
Add some strategically placed fresh flowers.
Place a dish of vanilla or cinnamon in a warm oven to create
the aroma of fresh baking.
Turn off the television and turn on music at low volume.
Secure pets in the garage, yard or other secured area. Even
better, take them out of the house with your or arrange for
a friend to keep them.
Make sure all pet areas are clean and odor-free, including
litter box.
Make sure all trash is disposed of in neatly covered bins.
Make the temperature comfortably cool.
The Actual Showing:
The selling agent will call your listing agent to set an
appointment to show your home. Your agent will contact you
to determine if the time is convenient and to arrange the
details.
The presence of the owner or family members makes the potential
buyer feel like an intruder. It’s best to leave the
house while the buyers are touring the home. If it is not
possible to leave, excuse yourself and stay in one part of
the house or outside.
If the prospective buyer or their agent asks you questions,
respond honestly but diplomatically refer additional questions
to your agent. It is best not to discuss price, terms, possession
or other factors with the buyer or their agent.
If a prospective buyer calls directly or comes by unexpectedly
without an agent, get their name and phone number. Explain
that it is not a convenient time and say you will have your
listing agent contact them. For your benefit and protection
do not allow them in your home.
After Each Showing
We follow up with the showing agent to obtain feedback concerning
the potential buyer’s feelings about how well the property
fits their needs.
We evaluate the feedback and comments received from other
agents that tour the property during our office and association
caravans, to share with you ideas that may make the property
more marketable. We discuss price reductions and other buyer
incentives with you if offers are not being received within
the first three weeks of listing the property.
Tips to Upgrade Your Home for
Potentially Increased Property Value
A home is arguably one of the largest financial investments
a person will make in their lifetime. While property values
over time are determined by national variables, the economy
and local market conditions, the care and upkeep of a property
is also a crucial element toward achieving a solid re-sell.
Whether you are planning on adding more rooms to create extra
space, upgrading your kitchen with new appliances or are
thinking of putting your home on the market, Coldwell Banker
Real Estate Corporation offers some essential home improvement
tips that might increase the value of your home.
Kitchen Makeover: Out of all the rooms in the house, the
kitchen is the most popular to remodel. According to Remodeling
Magazine, money spent to upgrade a kitchen produces the highest
return on investment. "Hot" kitchen makeover trends
include adding dual sinks, cooking stations, extra-long dishwashers,
under-cabinet lighting, warming ovens and wine coolers.
Bathroom Fixer-Upper: Upgrading a bathroom is also a sound
choice and will usually provide a significant return on investment.
Large bathrooms are typically on the top of the list of priorities
for those seeking to purchase a home. Adding skylights, glass
block windows, ceiling fans and sunken whirlpool baths are
also attractive selling features. If you don't have the room
to expand or to accommodate larger appliances, or you don't
think you'll be living in your home long enough to enjoy
the changes and/or see a return on this kind of investment,
stick with neutral, mid-builder level updated cabinetry,
refreshed flooring and shower/tub, or a new sink and toilet.
Room to Grow: Adding a room or two, such as a spare bedroom
or a study, is a significant home improvement that you will
be able to take advantage of every day. In addition to the
much-needed extra space, it can also potentially provide
you with a good return on your investment when it comes to
selling the property.
Landscaping the Lot: A professionally landscaped yard can
certainly increase the "curb appeal" or desirability
of a home. In fact, beautifying your lawn can be one of the
most inexpensive home improvements. Additional simple landscaping
projects include trimming and edging the grass, manicuring
the trees and shrubs to open up the view of the house, removing
any dead plants and planting flowers to brighten up the yard.
Repair Jobs: While many homeowners may want to update and
remodel their kitchen, if the roof needs fixing or the chimney
has to be reappointed, then they should prioritize these
necessary repairs over any cosmetic changes. This applies
to both sellers and those who plan to stay in the home for
years to come, as these essential repairs must be taken care
of before they cause the house to lose value. It is vital
to look after the minor problems such as a leaky faucet or
a loose cabinet to ensure that your house doesn't undergo
any long-term damage. As soon as you notice a problem, fix
it since this will help avoid a larger expense later on.
Cosmetic Touch-Ups: A paint job, new double-paned windows
and new carpeting will increase the price of a house virtually
dollar-for-dollar. Neutral colored paint and eliminating
clutter can make a world of difference. However, don't go
overboard with home improvement projects that will push a
house too much above the current average value of homes in
your neighborhood. It is important to make sure that your
home has standards that are in-line with the other houses
in the neighborhood, but you do not want to price yourself
out of the market.
