TIPS FOR SELLERS

Setting A Price

The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.

Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA. The CMA will reflect the following:

1. Homes in your price ranger and location sold in the last 6 months
2. Asking and Selling Prices of Homes
3. Current inventory of homes on the market
4. Features of the homes currently on the market

Always be realistic. And understand and set your price to reflect the current market situation.

Have a Plan of Action

1. Analyze why you are selling - If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.
2. Prepare your home for the buyer - Maximize the strengths of your property and fix up it's weaknesses. You want the buyer to walk away from your home with a lasting good impression.
3. Find a good real estate agent that understands your needs - Make sure that your agent is loyal to you, and can negotiate to help you achieve your goals. They should be assertive and honest with both you and the buyer.
4. Be prepared for negotiation - Learn and understand your buyer's situation; what are their motives? Can you demand a big deposit from them? Try to lock in the buyer so that the deal goes through.
5. Negotiate for the best price and the best terms - Learn how to counter offer to get more from every offer.
6. Make sure the contract is complete - Be honest with your disclosures; you do not want to lose the deal because you were lying or diminishing your home's defects. Insist the buyers get a professional inspection. This will protect both you and the buyer.

Make a Great First Impression

If you want buyers to be interested in your home, you need to show it in its best light. A good first impression can influence a buyer into making an offer; it influences a buyer emotionally and visually. In addition, what the buyer first sees is what they think of when they consider the asking price.

A bad first impression can dissuade a potential buyer. Don't show your property until it's all fixed up. You do not want to give buyers the chance to use the negative first impression they have as means of negotiation.

Ask around for the opinions others have of your home. Real estate agents who see houses everyday can give solid advice on what needs to be done. Consider what architects or landscape designers have to say. What you need are objective opinions, and it's sometimes hard to separate the personal and emotional ties you have for the home from the property itself.