5 Crucial Tips to a Successful Home Sale
BY: EMILIO DISPIRITO, TEAM LEADER OF THE DISPIRITO TEAM
When selling a home, you may be faced with so many questions, obstacles and all around confusion!! Not only are you moving your house, but if you are moving to entirely new town, you are moving your routines, your activities and your way of life as you know it!! This is why, I felt it would be helpful to provide you with a list of 5 crucial tips to a successful home sale that you should focus on when getting prepared to sell your property.
If you missed it, we spoke about it on air, on The Round Table on Newsradio 920 Sunday January 18th, 2015 and you can listen to the segment here! http://www.920whjj.com/TheRoundTableRadio Jan 18 2015
- You may want to stay away from part time agents. It's impossible to effectively service buyers for your home or accommodate buyer agents. Furthermore, the often times lack the experience a professional full time agent brings to the table. There are over 180 steps in the real estate process of listing and selling a home, many of which are delicate and time sensitive.
- Find out how many homes have they listed and sold in the past year? If its less than 12... 1 per month, you may want to continue looking for someone with better credentials.
- How well do they know the market?
- Do they have support? A full time admin to help with the behind the scenes work like marketing and getting your home out there!
- Do they pay to advertise their listings? If so where? Buyers come in from all areas.
- For example, we advertise our listings on billboards, radio, internet, magazines, newspapers, post cards, signage, open houses, etc.
- Most importantly, what are their clients saying!? We don't go out to eat anymore without reading restaurant reviews!! Why not do that kind of homework when entrusting someone to sell your home!? You can use 3rd party sites to see reviews for agents you are considering. Here is an example of my teams Zillow profile and client testimonials: http://www.zillow.com/profile/theDiSpiritoTeam/Reviews/
- When a buyer understands that its February 20th and you need to start your new consulting job in San Diego California on March 1st and can't afford to pay two mortgages for an extended period of time, you better believe a low offer is probably going to be coming in!
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3.) Set reasonable expectations for yourself when it comes to pricing! Do your homework in addition to your agents!
- Check listings in your neighborhood and see what homes are selling for in your area.
- When homes in your neighborhood are all alike in size and are listed and selling at $320,000 for example, you should not expect $390,000. Situations may vary, so your agent can confirm this.
- NOTE: Keep and eye on "high and low bidders" these are agents who suggest a higher than market value to hopefully secure the listing while low bidders are more concerned about volume and pushing homes fast than an overall quality transaction.. it's easy to sell a Mercedes that is priced less than the competition! Be mindful.. an agent that knows the market will have supporting data for you.
- Pickup a free copy of Homes Magazine at your local Stop and Shop, cafe or store. See what other homes are listed at in your town. These may be your competition!
- Understand that, when your home is priced too high, you are setting yourself up for failure and your home will become "stale" to buyers. "Something must be wrong with that home", they will say.
- National Association of Realtors released their statistics from 2014 that state homes priced too high that sit on the market for 17 weeks sell at 93% of list price, vs. homes that are priced at market value and sold under 2 weeks sold for 100% of list price! That is $7,000 additional per $100,000 in your pocket! Price wisely!!
4.) Clean, declutter and stage!
- Clutter will distract buyers attention away from your home and space
- Messy homes overwhelm potential buyers and cause buyers to see "all the flaws"!
- Depersonalize your home. Often times when buyers walk in and see dozens of photos of you and your family, they have a hard time imagining themselves in your house.
- Odors are deal killers!! Pets, trash, smoke, etc. Make sure to keep floors cleaned and rugs vacuumed. Many people have animals and can understand that they are hard to keep up on ;).
- If the home is vacant or outdated, hire a professional stager. The cost is very low compared to the return on investment. Only about 10% of people can envision themselves in a home without furniture. We use RISE Interiors which cover RI and MA.
5.) Order a home inspection before your home goes live!
- Home inspector can give you a typed, detailed report of items that may need immediate attention. We found Mike Auger with Auger Enterprises to be the best value for inspections in RI and surrounding MA.
- Handle the pressing items like faulty wiring, leaky plumbing, outdated heating system, etc. if you can afford to. This will give the buyers less reason to bark at your pricing.
- Cosmetic fixes go a mile! Chipped paint, lack of hand railings and other safety hazards will disqualify your home for many popular financing options like FHA, VA and USDA mortgages. Not to mention your home will show better!
For more information, please call Emilio DiSpirito at 401-359-2338 or tune in each Sunday as Emilio & Zach Levesque with Maverick Funding share expert and inside information while they interview the top short sale experts, CPA's, financial planners, bankruptcy attorneys, credit specialists, title companies, loan modification experts, stagers, inspectors, estate planers and many more!
"Real Estate Simplified!"
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Check out Staging for the Senses, 7 Ways to Increase Your Homes Value and Mortgage Matters with all time low mortgage rates! And The Lighting Round!! http://www.920whjj.com/media/
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