Selling your property can be a rewarding experience. However, there are obstacles that can delay a quick sale. As a seller, you are in a position to avoid many of these obstacles by simply preparing yourself for the process and considering the list of items that follow.
- Consider your property’s curb appeal
A buyer’s first impression is generally established by your property’s appearance from the street. It is worth your time and effort to consider the perspective of potential buyers BEFORE your property is actively marketed. Consult with your Realtor to find out what improvements should be made to ensure your home shows at its very best.
2. Wisely select your agent
There is no shortage of real estate agents in the marketplace. Of primary importance is your ability to trust this individual and his/her ability to successfully navigate you through the process, while minimizing the obstacles and maximizing the benefits. Specific items you should address with any prospective Realtor:
· Is your Realtor doing business in your immediate area?
o Out of area agents often insist on ‘lockboxes’ and have difficulty coordinating the transaction from an ‘out-of-area’ location. In addition, they may not enjoy the relationships within the local brokerage community and marketing channels that ensures the strongest response to your opportunity.
· Is your Realtor willing and able to provide a comprehensive marketing campaign prior to signing the listing agreement?
o Agents may claim to do everything every other agent can do. Even if you don’t care about the details, you must ask for proof about what EXACTLY an agent is going to do. They may underprice your property and try to sell it to the first bidder rather than go through the energy of marketing to the entire community.
· Does the presence of the prospective Realtor instill a sense of dependability and trust?
o When you meet, does the Realtor ask questions? Listen? Or simply talk? Were the materials professional in appearance? Content?
· Is your prospective agent willing to provide list of client references that you can talk to?
o These resources are a great start to understand how knowledgible and dependable your prospective Realtor will be throughout the process.
· What is your prospective agent’s professional reputation in the market?
o Often seller’s don’t understand how a poor prospective agent’s reputation can affect another agents interest in involving their client in a transaction. It is not unwise to request a list of the last five agents most recently involved in a transaction with your prospective Realtor. You can then get a sense of his/her professional ethic in a transaction.
· Did you want to work with a ‘discount’ agent? How well can this agent represent your interests in a transaction?
o If they discount their own services, how well are they going to negotiate your interests in the transaction? Understand that by discounting the commission, despite what the Realtor may tell you, you may not be getting the same level of exposure that a standard commission warrants. In addition, certain red flags may be raised within the brokerage community about the quality of agent and represented opportunity. To secure the strongest offer possible, these are not concerns you want associated with your property.
- Insist on a comprehensive marketing strategy
A comprehensive campaign should involve more than a ‘for sale’ sign in your front yard. Though a home can sell without being made publicly available, your best chance of securing the highest price is often when there are multiple buyers competing for a single opportunity. Your Realtor should present a plan that incorporates your needs as a seller with a solid strategy for attracting buyers from ALL possible sources. This marketing plan should be substantiated with publication dates and specific activities. You should feel comfortable that your Realtor has cast the broadest ‘net’ possible to capture the best buyer candidates for your property.
- Do not hide problems with your house
'Honesty is the best policy’ holds true when selling real estate. Though most buyers will reserve the right to conduct their own inspections during the escrow process, sellers are not relieved of their responsibility to disclose material facts regarding the property’s condition. Often the concealed defects are discovered during the buyer’s home inspection. Frequently the discovery may cause the buyer to back out of the transaction as concerns may be raised about what else the seller might be concealing. If the problem is not revealed during inspections but is discovered after the close of escrow, the buyer may very well sue if they can prove the seller had prior knowledge of the condition (ie. evidence of attempted repairs, etc…).
- Look at your home from the perspective of a buyer
Many of us have made our homes comfortable for our given lifestyle. Clutter and personal possessions are things that many of us have grown to tolerate or not even notice in our homes. Buyers will compare your home to the condition, quality and ‘staging’ they see in other homes on the market. Your Realtor should consult with you to address all of the specific elements that will ensure the strongest response from buyer candidates, including:
Exterior:
· Painting your home WITH THE RIGHT COLORS will make your home look younger and cleaner. It is true, new paint will make your home look cleaner, but sellers often ignore color choice. Color selection can transform a dull flat monolith into an architectural masterpiece. I’ve seen it over and over. Worse yet, selecting the WRONG color actually defeats the capital investment altogether and can turn your masterpiece into the monolith.
· Landscaping: Consult with your Realtor about what will work best for your property. In some cases, lush vegetation sets a calm serene mood for the property vs. a formally manicured garden - which sets a more traditional tone. Often removing leaf/vegetation debris and planting front entrances with some seasonal plants/color can do a lot to freshen up a home.
· Keep visible areas well kept. Sweep, rake, and prune areas (including roof)
· Clean windows: A clean window makes your home brighter in and out. It also suggests that your home is AND HAS BEEN well maintained
· Store extra motor vehicles, trailers, campers, boats, toys, bikes and other miscellaneous ‘stuff’ at a location other than your driveway or other visible storage area. ‘Less is more’ when it comes to possessions on your property. Your goal is to make the spaces appear to be as large and as clean as possible.
· Address pets and their debris: Buyers often visit every corner of your property during a showing. You don’t want these people tracking poop through every room of your home after a visit to the yard. Likewise a barking dog that can’t be contained to a specific area during a showing doesn’t make for anything less than a distracted experience for a buyer.
Interior:
· GET A TEMPORARY STORAGE UNIT: This is my strongest advice to anyone listing their home. Most people have some degree of clutter in their homes, closets and/or garage. It is a VERY wise investment to move the non-essentials out of the home. This opens up spaces and buyer imagination and makes showings easier. Understand that often the listing agent, buyer’s agent, and buyer(s) are all present during a showing. The more space in a home to navigate parties of three or more individuals thru helps significantly to combat the perception of a cramped and confined floor plan.
· Carpets and other flooring should be vacuumed and/or cleaned. Particular attention should be spent on anything with pet odors. Urine stains/odors should be dealt with prior to buyers visiting your house. These are BIG problems for people with sensitive noses, allergies and/or those that will equate the presence of odors with the cleanliness and condition of the home.
· Fresh flowers do A LOT to put people in a good mood and beautify your home. Stay away from pungent plants as they also may trigger an allergic reaction.
· Address unmade beds, toys, and dirty clothes: I’ll attempt to do the best job I can when showing your home. Your help and consideration will make a big difference. Dirty clothes on the floor can make buyers uncomfortable as they feel they are intruding if stepping over clothing and/or trying to pretend or ignore superficial details.
· Make sure that windows are not in disrepair, and curtains, shades, etc… can easily be opened to make the home as bright as possible during a showing
· Unless your property is vacant, DO NOT put your home on ‘lockbox’. A ‘lockbox’ is a commonly used devise to store keys for agents to show a home at their convenience. Though convenient for the agent community, you rob your Realtor of the opportunity to truly ‘sell’ your home. In addition, there have been security concerns in the past with unauthorized access to homes from individuals outside the real estate community.
· CLEAN and ORGANIZE YOUR KITCHEN: People are often extra-sensitive to the amount of clutter in a kitchen. Additional small appliances, spices, and miscellaneous crap take away from a clean and spacious image many buyers are looking for.
· CLEAN and ORGANIZE YOUR BATHROOMS: Same reasons as above
· SECURE VALUABLES: Jewelry, cash, prescription medication, trinkets that easily fit into a pocket or purse should be either locked up or stored off-site.
· Discard furniture and other miscellaneous items that won’t be needed at your new home. Don’t make more work for yourself by storing things you’ll be eventually getting rid of.
- Remain quiet if present during a showing
I recommend that sellers not be present at scheduled showings. Buyers don’t feel comfortable to take their time and express their feelings when trying to avoid ‘earshot’ of the sellers. In addition, many sellers (when present) have a tendency to ‘offer up’ suggestions on perceived flaws that the buyers haven’t noticed and wouldn’t have considered. (“we were going to update the kitchen, but…”)
- Price your home wisely and understand the consequences
There are many valid pricing strategies used to sell a home. Some confer a greater benefit to the seller, some to the listing agent. It is important to understand the market factors and related activity that affects the buyer demand for a property. Thoroughly understanding the pros and cons of possible pricing strategies in light of your needs as a seller leads to fulfilled expectations.
- Keep reasonable access to your home
Accessibility restrictions can sometimes work to your benefit, but it is important to maintain ‘windows’ of time where your property can be shown. You need to make the home reasonably accessible to the buyer public if you expect to sell it for the most money in the shortest period of time.
- Plan your move prior to the close of escrow
It’s difficult to anticipate the scope of tasks involved with a move as every single one is different in some way. It is important to make certain considerations prior to the actual move. These, though obvious, include:
· Where are you moving?
· Does your move require a concurrent close on another property?
· Have you identified that property?
· How and when will your belongings be transported?
· Do you have the professional resources established to help you through the process?
- Keep communication open
Selling a home can be an emotional experience. Your feelings and concerns are of primary importance throughout the transaction. Simple miscommunication can lead to a misunderstanding that can spin out of control when sensitive parties are involved. Your Realtor should be attentive to the sensitivity of your situation. Meanwhile you should have no reservations about voicing and/or expressing concerns with any element of the process.
Overwhelmed? Perfect! Your Realtor’s job is not an easy one. With the right assistance, the preceding tasks can be challenging, but also financially rewarding. The information is provided to you as a guide to secure the best offer in the shortest amount of time. Your needs and individual situation will determine the extent to which many of the listed items may be addressed or simply extracted from the process. This would be my job as your Realtor. Thanks for visiting and please let me know if there’s anything more I can do for you.
ã Andrew Morrison 2003
