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What Sells a House

In today’s market many sellers want to know the secret to selling their homes quickly. They want to know ways to hold on to the equity they’ve build over the past decade.

Unfortunately, there is no golden equation that equals the perfect sale. Yet, while there is no “sure thing” in the housing market these days, there are certain factors that affect how quickly and for how much your home sells.
Here are the top ten. Consider how these apply to your own home, how that affects marketing, as well as what aspects of your home you should “play up” to elicit a better response from buyers.
1. Price: It’s a common misconception that location is the leading factor of whether or not a home sells. It is, instead, price. Think about this scenario. You have a home located in a prestigious and sought-after neighborhood, yet the list price is tens of thousand of dollars over the comps for the area. No one will be interested. This same property priced just below the competition will fly off the market.
2. Location: Okay, location is still important. A home that sits next to a refinery, crime-ridden neighborhood, or busy street is less desirable than one that backs up to green space. If your home has a boastable location, then by all means boast about it in your marketing.
3. Liveability: This is fast becoming a hot button word in real estate. Buyers today are looking for neighborhoods that deliver amenities such as golf parks, restaurants, theaters. They want good schools, walkable neighborhoods, and plenty of things to keep them entertained.
4. Condition: There is a certain segment of the market that is made up of renovators, flippers, and investors. You won’t find as many people these days eager to buy your run-down property that is in a good location. They simply can’t sell the property fast enough before monthly mortgage payments begin eating up their profit. Homes that are well-maintained or in move-in ready condition appeal to a broader range of buyers. Even simple fixes, such as new paint, cleaned carpets, or power-washed decks, can have an effect.
5. Competitive Advantage: Don’t make the mistake of assuming that you’re in this race alone. Past area sales, as well as current listings and foreclosures, are your direct competition. You must take these into consideration when settling on a list price for your home. What amenities and upgrades do these homes have? Do the homes in your neighborhood all have updated baths, kitchens, or landscaped yards? In order to price in line with them you must be able to boast these same things.
6. Curb Appeal: Curb appeal is the first impression of the home world. You must keep the yard orderly and maintained when your home is on the market.
7. Staging: Once inside your home, a buyer must be wowed. Intoxicate their senses. They want to see up-to-date furnishings, smell a clean home, touch cabinets that are in good repair, hear peace and quiet, and of course “taste the good life.”
8. Kitchens: A kitchen sells a house. It is where families gather and connect. Minor kitchen remodels rank high among the list of top remodeling projects, with owners updating cabinets, counters, and floors. Nobody wants an outdated kitchen. What fixes are in your budget? If your kitchen is already spectacular, be sure you play this up in any marketing.
9. Agents: An accomplished, knowledgeable agent can be your biggest ally during the selling process. They know the latest market trends and have built a network of agents and contacts to market your home to. With an arsenal of marketing tools available to agents today, from video tours and webcasts to brochures, websites, and mls listings, they are part of your selling team.
10. Marketing: Marketing has gone global. With the power of the Internet, you can showcase your home to millions of potential buyers. Sit down with your agent and develop a solid marketing plan. This is why you are paying them a commission. Make them earn it!
The market is not what it once was. You must be realistic about what selling in today’s market means. You value your home, but it may not be “worth” as much today as it was yesterday, last month, or last year. Consider these top ten ways a home sells and help your home put it’s best face forward.
Published: August 3, 2011
by: Carla Hill

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For sale by owner usually a mistake

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Question: I would like to sell my house myself and want to put on an effective advertising campaign.

I don’t want to deal with the real estate agents and multiple listings because I think they are too expensive. Do you have any suggestions?

Answer: No one really likes the idea of paying a real estate sales commission. The typical commission rate is 6 percent of the sales price. That’s a lot of money, and many sellers think, “Why don’t we just sell it ourselves and keep the extra money?”

But frankly, it most cases that’s a mistake. Good real estate agents earn their money and they will probably get a higher price for your home than you could get on your own. That’s especially true in the slow real estate market that we have today.

But since you asked how to go the “For Sale By Owner” route, here are a few tips:

First, you have to realize that the odds are against you. The vast majority of all real estate sales are closed through real estate agents.

As a FSBO –pronounced “fiz-bo” in real estate parlance — you will not have an army of agents working to sell your home, and the buyers who are already working with real estate agents will probably never see your house.

After all, why would an agent show your home for free when there are many other homes for sale in your neighborhood that pay a sales commission?

So my first tip is to offer to pay a commission to any agent who presents an offer from a qualified buyer. Now, you’re probably thinking, “We don’t want to pay a commission, that’s why we’re selling the home ourselves!”

I’m not suggesting that you pay a full 6 percent real estate commission, just the half that would normally go to the selling agent. Typically, the listing agent who markets the home receives half of the commission and the selling agent who produces the buyer receives the other half of the commission.

So if you offer to pay a 3 percent sales commission to a real estate agent, he or she would earn the same amount as if they were selling a home listed by a real estate agent, but you would save half the normal commission rate. That will open your home up to many more prospective buyers.

All you have to do is include the words “brokers welcome” in any advertising and marketing materials prepared for your home.

But what if you are adamant about not paying any real estate commission at all?

You will have to “earn” the real estate commission that you are saving because selling a home can be hard work, especially in this market.

First, if you haven’t already done so, clean up your house to make it present well. A fresh coat of paint makes a big improvement for a relatively small investment.

You also may want to clean your carpets and refinish badly worn hardwood floors.

You want your home to make a good first impression. But don’t go overboard with expensive projects that won’t significantly increase the market value of your home. For example, don’t do a major kitchen remodel just before putting your home on the market.

You want to concentrate on relatively inexpensive “cosmetic” improvements.

Once your home is ready to hit the market, you need to establish the asking price. This is where many FSBOs make a serious mistake. Not only do they want to keep all the money that would go to the real estate agents, they also tend to get greedy and set their asking price too high.

Remember, you are at a competitive disadvantage when selling your home without a real estate agent, so you have to do something to stand out from the crowd.

In my opinion, you should price your home for a little less than you would list it for with a real estate agent. For example, if a real estate agent suggests pricing the home at $310,000, you might advertise it for sale at $299,000. You would attract savvy buyers who recognize that the home is well-priced and your chances of a quick sale are greatly improved.

The mistake many FSBOs make is that when the agent suggests listing their home for $310,000 they think “my house is worth more than that” so they try to sell it themselves for $325,000.

Even a good real estate agent can’t sell an overpriced home, and it’s doubly hard when you’re trying to sell by owner.

Be realistic. Tour Sunday open houses in your neighborhood and check out the competition. Try to put yourselves in the buyers’ shoes. How much would you be willing to pay for your home compared to similar homes currently on the market?

Be honest with yourself. We all tend to think that our home is “better” than the neighbor’s house, but prospective buyers don’t have the same emotional attachment. To them, it’s just another house among the many options available.

I believe in trying to sell a home fast, so I recommend figuring out the lowest price you would be willing to accept and start there. By pricing your home low, you will get maximum attention from the serious home buyers.

If you price it high to “build in some negotiating room,” you may end up having to drop your price down to your minimum in a couple of months, but by that time your house is “shopworn” because it has been on the market so long.

Your best chance to sell is in the first two to three weeks on the market, so be aggressive and price your home as low as you can stand it.

By Steve Tytler

Life vs Apple & Blackberry

“Life was real life when apple and blackberry where only fruits”

When it comes to make a mistake

When it comes to make a mistake, I 100 times rather make the call myself and take the blame than allow someone else make the mistake for me!

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