 So
you are ready to sell your home! Whether you plan to sell it yourself or through
a licensed real estate agent, I hope you find this information useful.
Click on a major section or specific question below
or just page through the information.
Pricing Strategies For Selling
Pricing your home for sale is never an easy task. Of course, you want to get
the maximum price that the market will bear but if you overprice your home, it
may be on the market far longer than you can afford it to be. The questions below
are designed to help you establish a price range and a starting selling price.
If after a reasonable period of time, your house hasn't sold, you may want to
reduce the price or sweeten the deal for the prospective buyer in some other way
(e.g. pay a percentage of the buyer's closing costs).
How do I determine the market value of
my home?
Try to establish a market price range for your home. The low end of the price
range represents a "good buy" in the current market and is optimally
positioned to sell more quickly. The high end of the price range is more difficult
to establish but usually means that the home is above the market price for equivalent
homes in the same area and that you have solid reasoning for a premium price.
It is important to note that features of your home that are not customary for
your area may not substantially increase the market value of your home.
How do I determine the selling price of
my home?
I like to look at four major variables:
- Comparative analysis to other homes that have sold in your area
- General market conditions in your area at the time of sale
- How much time you have to sell your home
- Special features and general condition of your home in relation to other
homes for sale in your area
A comparative analysis to other homes that have sold in your area is the best
overall indicator of what you can expect to sell your house for. Don't rely exclusively
on your own judgment. If possible, get a market analysis from one or two licensed
real estate agents. If there is a large discrepancy between two estimates, ask
what the analysis was based on. It is normal to see some differences. Find out
the selling prices of similar homes in your area. Use all of the information to
help establish the initial price.
I would like to get a comparative market
analysis but I don't want to be pressured into listing my home. Is there anyway
I can do this?
If you want an honest assessment based on years of real estate marketing experience,
you've come to the right place. And if you do not want to list your home, that's
not a problem...you will still get my best effort. Click
here and we'll get started.
Preparing Your Home For The Sale
You need to make your home as presentable and defect free as you can reasonably
make it. Keep in mind that having a presentable home for sale usually has minimal
impact on the listing price but can substantially reduce the selling time and
may get you closer to a full-price offer. This is often the clincher that brings
an offer from a prospective buyer or better yet, brings offers from two or more
buyers competing to purchase your home.
What kinds of repairs should I make?
 This
is a complicated question. Structural and other non-cosmetic repairs need to be
made. Use your judgment for cosmetic repairs. If it would deter you from buying
the home, it probably needs some work.
The first step is to thoroughly inspect your home to determine if any repairs
need to be made. If you want to do the inspection yourself, obtain some written
information on the home inspection process. Some resources include:
- Worldwide Web: search the worldwide web using your favorite
search engine. A word of caution - always be wary of the source of information
as anyone can publish a web page and profess to be an expert.
- Online Bookstores: search online bookstores (e.g. amazon.com
and Barnes and Noble). Even if
you do not buy from an online bookstore, they are are great resources for finding
written material.
- Local Library or Bookstore: visit your local library or bookstore.
If you don't have time or are not "gifted" at home repairs, consider
hiring a home inspector to look for and document defects - especially if you own
an older home. Use a reputable inspector and make it clear that you want a thorough
top-to-bottom, inside-and-outside inspection. Spend time with the home inspector
during the inspection and don't be afraid to ask questions.
If you are working with a real estate agent, discuss it with her or him. A
good agent will work with you on this.
One final note: if you are one of the rare and gifted few that keep everything
in tiptop shape all the time...congratulations, you are well on your way to having
a pleasant selling experience!
What are some things I can do to make
the inside of my home more presentable?
Here are some general guidelines to follow:
- Eliminate clutter. If there is too much furniture, get it out of the home.
This will convey a feeling of spaciousness.
- Closets should be neat and orderly and not excessively loaded with clothing
or other items. Buy inexpensive storage boxes and shoe trees; remove off-season
apparel; paint closet walls if they are dirty; replace dim light bulbs in walk
in closets.
- Consider renting temporary storage space if you have nowhere else to store
excess furniture and other items.
- Paint or paper rooms that need it - including rooms with unusual or bold colors.
Use neutral colors to appeal to a wider audience. Re-glue peeling wallpaper.
- Refinish trim, moldings, window frames and door frames that show signs of
wear and tear.
- Keep floors clean and shining. Have carpets cleaned; keep wood and vinyl floors
waxed and clean; clean tile floors including the grout.
- Consider replacing dated or worn out carpet.
- Clean all windows inside and out.
- Change the furnace filter and clean all ducts.
- Take care of miscellaneous minor repairs including sticking doors/windows,
cracked glass, damaged screens, double-paned windows with broken seals, wall blemishes
and creaking floors.
- Do what you can to eliminate pet odors or other unpleasant odors.
- If you are working with a real estate agent, he/she should walk through your
home with you and make recommendations. If you aren't working with an agent, ask
someone who's judgment you trust to go through your home as a prospective buyer
and point out areas that need work.
- If you are selling your home with no furniture, imperfections in walls and
on floors (e.g. faded areas, stains, nail holes) are highly noticeable and may
require extra attention.
 What about bathrooms and the kitchen?
- After making non-cosmetic repairs, judge the appearance of your bathrooms
and kitchen. If there are inexpensive means of correcting cosmetic problems, then
by all means do so. Repair leaky faucets, clean all grout thoroughly, add grout
where there are cracks, polish fixtures, replace that old shower curtain, put
out your best towels and make all tile and mirror surfaces shine.
- Never leave a messy or cluttered kitchen or bathroom for a home showing. Always
keep toilet lids closed. Never leave dirty dishes in sight.
- If cosmetic repairs are expensive, you may have a tough decision to make.
Determine how much of a detraction you are dealing with. Fixing the problem is
always the best route to take but if you choose not to, consider bundling a "repair
allowance" in the selling price.
What are some things I should do for the
exterior of my home?
 Of
course, all non-cosmetic repairs should be completed. - You have one chance to make a first impression. Keep the walkway to your front
door as neat and attractive as possible. The front entranceway should not be in
need of repair. Make sure the door fits the frame correctly and that locks function
easily and smoothly. Paint the door, door trim and porch rails if there is even
a hint of a problem. Add a new door mat.
- Check all painted, stained and natural wood surfaces for defects. Refinish
if necessary. If the exterior of your home looks somewhat dirty but is in good
repair, consider washing it or having it power washed. That includes your wood
deck.
 Clean
all debris out of your yard (I know that block from a '57 Chevy will come in handy
some day, but it won't help to sell your home).- Keep the yard neat and orderly - shrubs trimmed, grass mowed,
leaves raked, garden beds weed-free and mulched, tools put away and hoses neatly
wound or stored out of sight.
What about home showings?
- Keep your home ready to be shown. It does make a difference. Dust, mop and
vacuum regularly.
- Keep the temperature at a comfortable setting.
- Turn on accent lights, especially in dark areas and stairwells.
 Keep
window treatments open. - I have known clients to bake cookies or bread or to play soft music just before
a prospective buyer arrives. These are not deal makers but do convey a feeling
of homeyness.
- Having pets in the home during a showing - especially roaming freely - is
not a good practice.
What else should I do?
- Solicit feedback from prospective buyers. If you are working with a real
estate agent, he or she should work directly with the prospective buyer's agent
to get this information for you.
- A home warranty, especially for older homes is a relatively inexpensive way
to give a higher degree of comfort to prospective buyers. Home warranties typically
cover major electrical, plumbing, heating and air conditioning systems for one
year. Exact coverage varies by company.
- Try to keep potential buyers in mind as you improve your home's appearance.
The investment in getting your home ready for sale will prove itself worthwhile
when you accept an offer to purchase.
I hope you find the information on this page useful. Of course,
your feedback and suggestions are always welcome and appreciated.
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