Equal Housing Opportunity
A real estate broker
licensed in Texas
Selling a house can be a bit like having a baby -- everyone gives you advice that you may or may not have asked for, in spite of the fact that the experience is unique to each individual every time. And just like having a baby, there are many myths and "old wives' tales" to be de-bunked. Among the truths are the following ten:
You should always price your home high and gradually correct the sales
in listing high may be that you will always have the chance to accept a
lower offer. But the truth is that if the listing price is too high, you'll
miss out on a percentage of buyers looking in the price range where your
home should be. Offers may not even come in, because the buyers who would
be most interested in your home are scared off by the price and won't even
take the time to look. By the time the listing price is corrected, you
may have already lost exposure to a large group of potential buyers. Your
real estate agent will be able to offer you a comparable market analysis
for your home. This is essentially a document that compares your home to
other similar homes in your area, with the goal of helping you to accurately
assess your home's true market value.
Minor repairs can wait until later. There are more important things to
By and large,
buyers are looking for an inviting home in move-in condition. Buyers who
are willing to tackle the repairs after moving in automatically subtract
the cost of needed fix-ups from the price they offer. You save nothing
by putting off these items, and you may likely slow the sale of your home.
Once potential buyers see the inside of your home, curb appeal won't matter.
today will drive by a home before deciding whether or not to look inside.
Your home's exterior will have less than a minute to make a good first
impression. Spruce up the view of the house by keeping the lawn mowed,
shrubs and trees trimmed, and gardens weeded and edged. Clear the walkways
and driveways of leaves and other debris. Repair gutters and eaves, touch
up the exterior paint, and repair or resurface cracked driveways and sidewalks.
You can also add additional appeal by placing potted flowers out front,
hanging a wreath on the outside of the door, positioning new street numbers,
and putting out a pleasing welcome mat.
Once potential buyers fall in love with the exterior look of your home,
you put interior improvements on the back burner.
most buyers are looking for an inviting home in move-in condition. You
might consider spending a few dollars on: painting, if the existing paint
is in bad shape or an unusual color; carpeting, if it shows excessive wear
or an outdated color or style; refacing kitchen cabinets; scrubbing bathrooms
until they are sparkling clean; or several other key repairs or replacements.
Although you may be uncomfortable with spending a few thousand dollars
on your home right before you sell it, it's not uncommon for the right
work to more than pay for itself in a higher selling price and shorter
marketing time. Your real estate agent will consult with you about the
repairs and replacements that will benefit you most.
Your home must be every home buyer's dream home.
At some point,
improvements that you make to your home can rise far above and beyond what
is customary for comparable homes in your area. For instance, there may
not be another swimming pool in your entire subdivision. After spending
$20,000 to install an in-ground swimming pool that you hope will lure buyers,
you may find that it only raises the market value of your home by $10,000
because there are no other comparable properties to support the market
value of the pool. As a rule of thumb, if your improvements push your home's
value higher than 20% above average neighboring home values, don't expect
to recoup the entire amount of improvements. Your real estate agent can
advise you as to the scope of projects you might consider in preparing
your house for sale.
Buyers are unswayed by sellers that offer creative financing options.
You might consider
offering seller financing, paying some of the buyer's closing costs, including
a one-year home warranty, or other buyer incentives. Your real estate agent,
who has professional knowledge of local market activity, can help you decide
what incentives, if any, to offer.
You are better off selling your home on your own, thus saving the commission
you would have paid to a real estate agent.
And those sellers
who are successful in selling without a real estate agent often net less
from the sale than sellers who use do a professional real estate agent.
You probably visit a doctor when you are in ill health. You also likely
take your car to a mechanic for repair and maintenance. When you require
legal advice, chances are that you seek the services of an attorney. Doesn't
it make sense that you should contact a real estate professional when you
are preparing to sell your biggest asset?
Good sellers are available to guide prospective buyers through the home,
giving the whole process a more personal touch.
of homeowners and/ or their family members in the home while it is being
previewed can make buyers feel like they are intruding. They really do
need to be able to visualize this house as their home, which can be difficult
to do when they are acutely aware that it is still your home. Your real
estate agent will be happy to look out for your home during open houses
Successful sellers insist that the terms of the sale happen their way or
that both you and the buyer have the same basic end goal: for you to sell
your home and for the buyer to buy your home. Your real estate agent will
join you in approaching negotiations in a positive frame of mind, which
often results in a win-win proposition for both you and the buyer. And
if both parties are satisfied with the outcome of negotiations, very few
things will come between you and the closing table.
When you receive an offer, you should make the buyer wait. This gives you
a better negotiating position.
When a buyer makes an offer, that buyer is, at that moment in time, ready to buy your home. Moods can change, and you don't want to lose the sale because you have stalled in replying.
C & B Realty
8323 Culebra Rd., Suite #103
San Antonio, Tx. 78251
Fax (210) 647-4988
Equal Housing Opportunity
A real estate broker licensed in Texas