1. Convert your Home back into a House…
When you purchased your existing house, generally speaking, you had no attachment to the property other than the price and terms required to purchase…. Now as a seller your Beautiful HOME is the place where your family has lived, the place you decorated, the place you celebrated milestone and events, and the place you upgraded and decorated needs to be converted back into a HOUSE… A place where only price and terms will matter… Don't bring personal baggage into the transaction…2. Establish a timeline…
"Let's put it on the market and see what happens…" I wish I had a dollar for every time I have heard that line… I am also guilty of not emphasizing the importance of a timeline… The main reason people don't like to declare a timeline is the belief that a timeline will make them vulnerable for negotiations… Nothing could be further from the truth… a timeline is an essential measurement for success; Time is truly money especially in a declining market.
3. Fair Market Value Pricing…
That sounds easy… The trap most home sellers fall into is allowing the neighbors to price the home… "My neighbors just sold their home for $350,000 and my home is larger and better, so I should get $450,000…" I agree that your neighbor's home will, on occasion, impact the sale price of your home… but so many other factors will play into finding a Buyer for your House… Price verses Qualified Buyers, Price Range Expectations, Competition, Financing, and completion outside of the general neighborhood, and overall market conditions. I recommend consulting a Real Estate professional with a proven track record of results, gather "Raw Data" from websites like, Zillow.com, RealLivingRES.com, and BankofAmerica.com, just to name a few that process raw data to get you a price range for your home… Then discuss the results with a professional to determine the best course of action… If you and the Real Estate professional do not have a meeting of the minds… perhaps ask for a 2nd opinion from another Real Estate Professional.
4. Understand the difference between Listing a home and Marketing a home…
A listing generally refers to a contract between you and a Real Estate professional. Within that agreement are some general terms regarding marketing and at a very minimum it should include presenting the home on the Multiple Listing Service (MLS)… Marketing your house is a specific plan outlined for "You"… Not all marketing plans are created equal… so ask specific questions and get specific answers on how "Your House" is going to be presented to the public… The number one complaints regarding Real Estate professionals is a lack of contact… and close behind is that the customer's did not see their property being advertised… You're paying the freight… Ask before you sign…
5. Discover Hidden defects…
When was the last time you walked across your roof looking for Nail Pops or broken tiles… That's sounds like one abstract example… but hiring an inspector for a basic home inspection for between $250-600… is the easiest way to catch most of the defects… The other way, if you have a bit of experience with home maintenance… is to walk your home with a clipboard checking walls, wood, electrical, plumbing, roofing, etc. looking for defects…Checking all appliance operations, reviewing maintenance history on AC… and so on…Fixing basic items could be the difference between a sale or a cancellation… Don't forget Buyer's Math is generally 4 to 5 times greater than actual cost…
6. Showcase your home…
The easiest is to hire a Professional Stagger… but here are a few tips… for most of you… maximize floor space, counter space, and closet space even if you have to sacrifice garage space… take a close look at front landscaping… then check entryways to maximize space…remember your entry will have 3 to 5 people in a very small area when they walk in to show your home…Beige or White is normally a safe color for walls… if your walls are neither… it's ok.. but the more extreme, perhaps the longer it will take to find a buyer who is ok with painting over it or may have the same color preferences as you do… put everything in its proper place before leaving the house… If you have children, give them a checklist and make them part of getting the house sold… ask them before they go to school if their room is Realtor ready…and remember, baked cookies and fresh flowers are always a good touch…
7. Finding a New Home to Live in…
Most Real Estate professionals would tell you that the most important thing is to get your home sold… which we agree, but we suggest you call a lender to get the financing started for your new home purchase… the rules have changed so you will want to make sure that you qualify for the loan terms that you have in mind…Don't rely on the internet banks… get a local contact…you can always use the internet for raw data… but a market specific lender has a reputation to protect… then I would ask a Real Estate Professional to shop 10-12 homes on the market in your future price range… just to get a more accurate picture of the home you really need… and as a side benefit, you get to see the difference in presentations that stand out…
8. Don't choose an agent for the wrong reason…
Hiring friends and family may not be a slam dunk…It's always good to get a personal referral but the most important factor is results… Over 10,000 agents are licensed to practice Real Estate in Central Florida…Interview all agents even family and friends… What area do you primarily service? How Long? Do you work Full time? Weekends? Sales in the Last 6 months…? Do you work with Buyers? Marketing Plan? Do you have an Easy exit contract?...
9. Read the contracts before you sign…
In the case of a listing contract or purchase and sale contract… Ask for a blank copy to read so you can ask questions… best to get a copy before you are under pressure to sign… normally not the best time to get familiar with any document…
10. Understand when to move…
Nothing is more aggravating or costly than having your possessions on a moving truck and having the financing approval fall apart delaying or perhaps even cancelling your transaction… The best time to discuss these issues is before you sign your purchase and sales contract… ask your Real Estate professional for a timeline of events…Ask when to expect a written underwriting approval with all conditions met and even better, a clear to close… make sure your agent has a copy in the file… even the best prepared agent can have problems prior to closing, but if you know the right questions then you will be less likely to have any surprises.
10 Biggest Mistakes...
