Pricing Your Home To Sell
One of the most difficult aspects of selling a home is establishing a sales price. Pricing a home can be emotional for sellers. Many want a price to reflect personal memories and experiences but these do not qualify as features of a home. Price, location and conditions are the three most important items for a successful sale.
If you want to sell your home faster and for more money, it is best to establish a sound pricing strategy from the very beginning. Statistics from the National Association of Realtors reveal that if homeowners overprice their home when listing it, the home remains on the market longer and ultimately sells for much less than the original asking price. Remember, there is also a degree of value in being able to move on with your life. The following graph illustrates how the final sale price is adversely affected by time on the market.
Properties get the most attention from buyers just after they are put on the market. Therefore, it is imperative that sellers have the home in showing condition and priced well during the first four weeks of the marketing effort. There are many instances when the best offer we receive is the first one submitted.
Some sellers might be tempted to choose another salesperson who quotes them a higher asking price. This begs the question, “Does the salesperson want a successful sale or a listing?” A salesperson that gives an unrealistically high price is making an empty promise.
In some cases, when sellers insist on overpricing their home, we offer to hire an appraiser and agree to pay the fee if the appraisal is closer to their price estimate than ours.
Preparing/Staging A House
The way you live in a home and how it is sold are two different things. It is extremely important to present your home in its most impressive state. The following guidelines will help sell your home at the best possible price, in the shortest possible time.
We have all been warned not to judge a book by its cover, but homebuyers do and will. The look of your home’s exterior (its curb appeal) is crucial.
● Trim shrubbery, mow and edge lawn, weed and cultivate flower gardens
● Remove all pet toys and debris
● Repair fences and gates, give them a fresh coat of paint
● Wash down driveways and sidewalks, remove weeds from edges and cracks
● Store bikes, toys, hoses, garden tools, lawn chairs, clay pots, etc., out of sight
● Repair/paint/wash front door, doorbell, locks, doorknobs
● Buy a new doormat
● Clean all exterior and interior windows and repair and replace torn screens
● Sweep out and de-clutter garage
● Touch up exterior paint and trim
● Check the roof, gutters and downspouts to make sure they are in good condition
Walk through your home observing it as a potential buyer would. You want it to appeal to a broad range of buyers. Remember, it’s what’s on the inside that counts.
● Clean all windows so they sparkle
● Consider painting walls, ceiling and trim
● Repair leaky faucets and clogged drains
● Clean walls, doors, window sills, window covering, light fixtures, carpets and flooring
● Have the furnace serviced and replace filter
● Organize and de-clutter mantels, bookcases, closets and basement
● Kitchen should be spotless, de-clutter counters organize cabinets and pantry
● Clean bathrooms, fold towels, hide plunger (consider new shower curtain and bath mat)
● Make sure house is free from odors
● Set an attractive dining room table as if you were having dinner guests
● Remove family photos to depersonalize the space
● Hide pet toys, bowls and litter boxes
Remember, if all this seems overwhelming we have professional stagers and contractors available to help!