7 Ways to Make Life Easier When Selling Your Home
When it’s time to sell a home, we all dream of a flawlessly executed transaction where everything goes smoothly and ends with a win-win for you and the buyer. Here are seven tips to help make that happen—and avoid surprise expenses along the way…
1. Repair Your Home First
Making repairs to your home before you sell not only makes it more appealing to buyers, but it can also help you avoid the additional costs that can result from the buyer’s inspection. Disclosing any repairs that still need to be made will help you move smoothly to closing and avoid problems that could otherwise kill the deal. Consider conducting a pre-listing inspection to make sure everything is out in the open before you sell.
2. Make Sure Your Price is Right
The key to selling your home quickly is to find the right buyers. To find the right buyers, your home must be correctly priced. I use a Comparative Market Analysis (CMA)—a thorough, data-backed examination of your home and how it compares to other listings in your area—to accurately price your home. Without an agent’s CMA, it’s easy for your home to be listed at the wrong price.
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- Avoid Overpricing: Overpricing your home will attract the wrong buyers because you will force your home into competition with other listings that are fundamentally superior or have more to offer. When comparing other homes to yours, buyers will focus on the discrepancies and the features your home lacks. Overpricing will often cause homes to sit on the market for extended periods of time and become less appealing to buyers.
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- Avoid Underpricing: Under competitive market conditions, intentionally underpricing a home is a common strategy to attract buyer attention with the goal of starting a bidding war to drive the price of the home up. However, several things must go correctly for this to happen. In all other cases, underpricing your home reflects a lack of knowledge about where its market value fits into the fabric of current local market conditions and can leave you, the seller, unsatisfied with the price your home ultimately fetches.
3. Invest In Staging & Professional Photography
First impressions matter when selling a home. The vast majority of buyers are searching online and taking virtual tours of homes they’re interested in. As such, it’s well worth the time and money to hire a high-quality photographer and I always provide this for my sellers. The right photography can make all the difference in the minds of buyers.
Home staging is also a critical element for getting the most value for a home and selling it quickly. You can even DIY if you have the time and modern decor. It’s also the perfect time to inspect your home for any minor or cosmetic repairs that can be addressed quickly. An aesthetically pleasing home will attract more eyes, and any edge you can give your home over competing listings may be just the ticket to getting it sold.
4. Keep Your Emotions in Check
Selling your home is an act of learning how to let it go. Once you know you’re ready to sell, you’ll need to be able to look at it with an objective eye. This will allow you to approach decisions from a neutral standpoint and work towards what is best for the sale of the home. Having clear judgement will also help you get through the negotiating process and steer yourself toward a smooth closing. Stepping back can be tough, but a good agent will always be happy to give you guidance and help you keep perspective.
5. Wait Until You’re Ready
It may be tempting to rush your listing to take advantage of local market conditions, but waiting until you have all your ducks in a row will make life so much easier. Knowing when to sell your home is a mixture of being financially prepared, having the right agent, and understanding how your home fits into the current local market landscape. Once you’re ready, here are some tips on timing the market.
6. Use an Agent
…and I’m not just saying it because I’m an agent! Selling a home “For Sale By Owner” (FSBO) can save on commission fees, but is a complex and risky process that can easily lead to serious costs. An agent will help you front marketing costs, provide sound advice to help you avoid legal trouble, and ultimately shoulder some of the liability for the transaction. Being represented by an experienced professional will help you avoid mistakes during the offer process, negotiations, and closing that could otherwise be costly or jeopardize the sale. It’s no wonder that a vast majority of sellers choose to work with an agent.
7. Be Willing to Negotiate
Approaching buyers’ offers with an open mind will ensure you don’t miss any opportunities. Before the offers start to come in, it’s important to work with your agent to understand your expectations and strategize which terms and contingencies you’re willing to negotiate on. That way, you can quickly identify the right offer when it comes along. Showing a willingness to work with buyers will also keep them engaged and make sure you don’t leave potential deals on the table.
© Copyright 2023 Windermere Mercer Island.
Adapted from articles that originally appeared on the Windermere blog, November 22, 2021 & April 7, 2021, by Sandy Dodge.
Properties For Sale, what I look for, are you looking at them the same way?
Every day I am looking at properties, for my clients (Buyers & Investors) all over town from Capitol Hill heading South thru Mt. Baker, Seward Park and then West to West Seattle and then NW, to Magnolia and Ballard. Don't get me wrong; I hit a lot more neighborhoods besides these.
What I saw and continue to see from some other Brokers is disappointing; these are listings that come on to the market and they are not prepared for the buyers. The sellers have one opportunity to make a first impression and when I walk up the house and grab onto a post to open a gate and the post is wobbly, I loose trust, then I say, well let’s see maybe that was overlooked. Then I see other items that make me nervous and concerned. These are minor items such as cover plates missing off electrical devices and poorly executed finishes. These are items that should have been addressed prior to putting this home on the market. Why? If these are not an issue then these items don’t turn off people.
As a professional I am coaching my clients on getting the best return for their investment and this means installing cover-plates on switches and receptacles, fixing a wiggly post for a fence and dealing with a heap fix to meet a code issue. Oh I forgot to mention, the house smelled! I work hard for my clients and my clients know that when I ask them to do something, they know it is in their best interest, not mine and for them to maximize their return, they do what makes sense.
I can see that several items feel thru the cracks for this listing, and I don't know where it was but I am glad to say I am thoroughly disappointed in what I saw. I saw another property that was on the market for a while and I can say the pictures online look great! The in person comments are, peeling paint and cracks in the walls. For a fixer upper, not a problem, but overpriced is what we see and this will attract the low ballers.
Look at the listing as what the buyer will see, the “Buyers Eyes”. Remember if a buyer sees items that don't look good, they start thinking what else is wrong with the house?
Don’t let the buyer drive the price down, get the price up.
Let me know if I can help you.
Tom Fine
Windermere RE, Capitol Hill, Inc.
Options to Keep our Parents in their Homes as Long as Possible
Many seniors prefer to stay in their homes as long as possible. Of course, your ability to do this hinges on many factors, including the nature of the challenges you face in your current home. Major home renovations may be required, but there are also numerous inexpensive steps you can take to improve your living situation, including:
SAFETY IMPROVEMENTS
Flooring: carpeting is preferable to area rugs because it reduces tripping hazards and can cushion falls. But if area rugs are used, make sure they’re secured to the floor.
Handrails: on stairways, add a second handrail along the opposite wall for improved stability.
Footwear: to prevent falls, non-slip shoes are preferable to slippers or socks.
Non-skid safety strips: adhered to the floor of a tub/ shower, non-skid strips are preferable to removable in-shower bath mats.
Bathroom grab bars: ideally these should be anchored into the wall, but if that’s not possible opt for a safety rail clamped onto the side of the tub.
Quality step ladder: purchase a broad-based heavy-duty step ladder with a hand-hold bar across the top to safely reach items stored out of reach.
Lighting: whether it’s making a bathtub brighter or installing motion-activated night lights in the hallway, better lighting can help prevent falls and make hobbies, reading, etc. more enjoyable. Lighting improvements might be as simple as changing the bulbs (to higher wattages or to bulbs that mimic daylight instead of “yellow” soft lighting) or adding battery-operated units.
CONVENIENCE FACTORS
Hand shower: convert a standard fixed shower head into a hand-held system with a flexible hose.
Raised toilet seats: no need to buy a new toilet when a removable seat can be added to most standard toilets.
Mail catcher: mail delivered via a slot in the door may be easier to retrieve than from a mail box, especially if a narrow basket is mounted below the door opening so the recipient doesn’t have to pick mail off the floor.
Knobs: replace round door and/or faucet knobs with lever styles, which are easier to turn. Likewise, loop pulls can make drawers easier to open.
Eating: specially-designed cups and eating utensils can minimize food spills, including weighted options that help counterbalance shake-prone hands.
Cooking utensils: lightweight and ergonomically-designed options are readily available now, many offering non-slip handles and bright, attractive colors.
Keep things handy: move often-used items to easy-to- access locations.
Eliminate excess “stuff”: having fewer items to store, sort, juggle and handle can make aging in place an easier and more enjoyable proposition.
How to Sell your Home, Several Simple Steps to Increase the Value of you Home
This is scary, challenging and exciting all at the same time. The thought of selling your biggest investment. Well being wise and realistic you'll do fine. I knw you're thinking you can do the FSBO, of course as a realtor I don't believe in FSBO (For Sale By Owner), here you have your biggest asset and you have a fulltime job and know you are thinking of taking on this huge endeavor, is this smart? Do you know how much time it will take? Do you have experience in selling a home? Marketing a home, Interacting with potential buyers? Do you know what to say and how to close the deal or negotiate? What are these values worth?
The right realtor will make the cost of their services pay off, they will make you as much money as possible and will engage with potential buyers and buyers agents. Well let's get down to why you are here.
Here are some steps to get your home prepared for selling for the maximum amount.
1. Curb Appeal, this is the first impressions a potential buyer will see your home, beside the pictures online. Clean the yard, make the yard attractive, simple plants and bark in the beds can make your yard stand out from other homes for sale.
2. The first thing to do is to declutter your home, this means getting rid if all the excess items, possibly too many chairs in the living room, too much furniture is a turn off. The rooms should feel larger and by minimizing them, making the rooms look clean, larger this will give the rooms more volume. Clean your home, this means dusting, washing windows, this means deep cleaning and keep it clean, you never know when a potential buyer will want to see your home.
3. Make necessary repairs, do a walk thru and look at everything and make a list, that is what a good inspector will do and you'll loose money on the house if there any issues. Once you have the list, prioritize the list and go over the list with your realtor, they can help make key judgments on what should be repaired or replaced.
4. Prepare a list of what you like about the house and what repairs and improvements you've made on the property.
5. How about another list of what shops, restaurants and other great places are around your home that buyers can associate with and can see the proximity of these places. Anything special like this: "Look thru Living room window to see the Space Needle", "Walk to the Waterfront", "Pike Place Market are within walking distance from the house".
6. Once you hire a realtor to represent your home, they will provide a CMA, (Comparative Market Analysis) which will have comparative properties to provide you with a good idea of what your home is worth and what price range the home can sell for. A realtor is here to provide you with details and information and it is your job top make the decision on price from t he information they have provided. It's important to try to leave the emotion out of this process and try to look at it as a business transaction. i know that's tough, but emotions get in the way of a realistic price. Emotions increase the price. Keep your emotions out, be realistic what your home is worth, otherwise it's a waste of time to try to sell an overpriced home
7. Tell your friends and neighbors that you are selling your home, word of mouth is an incredible power full source, utilize it. Spread the word.
With the right presentation and price and terms, it should sell fast in the right market.
Good luck on your home sale and I hope you do well.
Contact me to help you sell your home.
Tom Fine