You’ve made the decision. You’re Selling your home. Although you’re not likely to get an hour long special like LeBron when he decided to move, this choice is one of the most important you and your family will make. Now, the anxiety sets in. How much can we get ? What about repairs? Is anything selling in this market? There’s good news for Sellers in todays market. Price it right, put some marketing behind it and throw a competent Realtor in the mix and you have a recipe for success. I outline the ingredients to a Succesful Sale below.
Get a Sellers Mindset.
The BIGGEST and MOST important thing you can do for your self and your family is to prepare mentally for the sale of your home. Try to take as much emotion out of the scenario as you can. Sometimes Buyers begin negotiations with low offers, don’t take it personally. In the Orlando market where I sell, we are experiencing a shortage of homes in some areas, so Sellers are cautioned to keep the home in showing condition at all times. Just understanding that you will be showing the home, keeping it in tip top shape and being prepared to consider offers from people will ease your mind tremendously.
Prepare Your Property
Put away those dishes, sweep the porch in the a.m. and keep the dirty laundry out of view. Does your home need touch up paint, or have fraying carpet? Walk your home with your Realtor and outline potential “Value Vampires”. If at all possible, paint where needed, clean or replace dirty carpet and cracked tiles, spruce up your curb appeal with new flowers and shrubs etc. In the case of luxury homes you have more invested (read:more to lose) so it’s well worth your while to spring for bigger ticket items like landscaping, new appliances and cabinetry. At the least clean your home top to bottom and keep it that way.
Price it Right, the First Time.
This is one of the big ones. Consult with your Realtor regarding recent neighborhood sales to see what the true current market value of your home ACTUALLY is. I spoke with a Seller recently, she informed me she bought the home and added $50k in upgrades, and to break even she would need to get at least $150k. Unfortunately for her the recent neighborhood sales were between $90 and $100k. Her story is not unique. Just be aware that retail for upgrades in your home do not translate directly into resale dollars. An Appraiser will have a value range for such upgrades. The best indication of value is the solds within the past 3 to 6 months in your direct area. If your home has unique features or is custom these factors will definitely come into play and your Realtor will be able to show you the market trends for your area. The good news is in many markets we are seeing values stabilize and often times multiple offers on homes that are priced well and marketed properly. Also, dont price it much more than market value, or it may languish on the market and deter ready willing and able Buyers. Homes typically sell here around 96% of their original list price so do it right the first time for success. Your first offer is often your best offer, and traditionally Sellers see lower priced offers as their homes reamin on the market.
