Sell Your Home Fast and for More Money

When you have your home on the market, it needs to be ready to show at all times. Of course you won’t have someone showing up at 7:00 a.m. or 10:00 p.m., but during reasonable hours, your home could be shown multiple times throughout the day and evening. Have your agent put a lock box outside.

This will allow them easy access without bothering you. Lock boxes contain a house key, are completely secure, and only licensed agents will have access. If you have indoor pets or some other situation where a lock box wouldn’t work, agents can schedule appointments, which give you advanced notice. Keep in mind that they could call 10 minutes before a showing, although usually you will get an hour or two notice.

Therefore, the best plan of action is to be prepared at all times. If an agent requests a showing and you refuse, instead of rescheduling, more than likely the potential buyers will just move on to the next house, meaning you’ve lost a possible sale. You never know what showing will turn into a contract. Stay away If possible, don’t be home when agents show your home.

This allows the prospective buyer to look around at leisure and ask questions without pressure. If you’re home, for example, in the middle of cooking dinner, stay out of the way and don’t volunteer any information unless directly asked a question. Otherwise, let the agent do the talking.

Environment If your home is being shown in the summer, make sure your home is cool on the inside – just as you would keep it warm in the winter. You want to do everything possible to make your home feel like a home, which is what appeals to potential buyers and leaves a lasting memory. Cleanliness Your home doesn’t have to look like it was just featured on the cover of Better Homes and Gardens, but do your best to have it clean and tidy. Make sure there are not papers scattered about, the sink is empty of dirty dishes, toys are picked up and put away, furniture and items are dusted, and rugs are vacuumed.

Lighting When you know someone is coming, ensure appropriate lighting. At night, this would include flipping on front and backyard lights. This provides a cozy feeling and makes your home more inviting. Repairs If you notice rooms or areas that need paint touch-up or complete repainting, this is the time to do it. Make sure there is no torn wallpaper, gouges in the wall, etc.

These types of things should all be fixed prior to your home going on the market. Fragrances Try to avoid scented sprays such as room fresheners or carpet deodorizers. Even if you use these products on a normal basis, to the buyer, it might appear as though you’re trying to mask some other type of odor. If you do want to have a nice fresh fragrance, consider fresh cut flowers, potpourri, or a soft-scented candle.

A great home remedy is to mix one tablespoon of each – nutmeg, cinnamon, ginger, and pumpkin spice. Pour all into a small saucepan filled with one cup of water, blend well, and simmer. Another option is to place a couple drops of vanilla extract directly onto the stove burner and heat quickly. The aroma is wonderful. Either option will give your home the fragrance of a nice home-cooked meal. Don’t use anything too overpowering; the potential buyers might have allergies. Visuals Set a bowl of colorful, fresh fruit out on the kitchen table.

Drape a soft throw blanket over the back of a recliner, fan magazines neatly on the coffee table, or light candles that glow in the bathroom. These charming touches make your home more cozy and inviting. Take a quick look around each room and see if there are things you can do to add a nice, finished touch. If you need more ideas, look through some home decorating magazines for quick tips. Trash Make sure all trashcans are kept emptied, especially in the kitchen where food items are thrown.

Check bathroom trashcans that might contain personal items. When people look at your home, you want to leave a positive impression. Seeing overflowing trash is derogative to a sale.

Don’t forget the garage Make sure you don’t forget the garage. Keep your tools and storage items neatly arranged. If there are oil stains on the garage floor, use sand and newspaper to wipe it up. This is considered another room of the house and should get the same level of attention. Pets This can be a little tricky. Make sure your listing mentions that you have pets. First, you don’t want them to accidentally escape and second, you want people who might have allergies or are fearful of pets to be aware they’re in the home. If possible, remove your pets prior to the showing.

If you can’t do this, try to put them in a kennel, the backyard, or garage where they will be out of the way.

You are ready to sell your house and want to know if selling your home on your own is the best solution. The truth to this question can come with a bias, so I will provide both sides. If you do sell your own home (known as a FSBO – for sale by owner), you’re incurring a lot of responsibility, but can save a fair amount of money. Generally, the seller pays between 5-8 percent of the sale, to the agents.

Selling your home without an agent will save you that 5-8 percent. And since the majority of buyers have an agent, you will have to cover the 2-3 percent for the buyer’s agent, meaning you save around 2-3 percent on average. This is around $4,000 – $6,000 dollars on a $200,000 home.

You can only speak to buyers that do not have an agent, but then you are quickly limiting your potential customer base. If you do find an unrepresented buyer though, immediately your savings rise dramatically! This is the juicy part of being a FSBO. But let’s examine the reality of selling your own home.

First and foremost, let’s stand in the corner of common sense. Being an FSBO can save you money. But, if this approach saves significant cash, why do only a small percentage of FSBO’s exist? There are many reasons. If you sell your home, you’re responsible for learning everything. However, learning is only the first stage; you also have to do everything, including taking the responsibility for marketing your home.

The marketing classes you took in college will now pay off. The downside, as you may have guessed, are cost options of advertising funds. Plus, your competition consists of experienced agents who are adept at catching the attention of buyers. To get around this issue, I suggest you mimic ads that catch your eye – and learn from their experience. Depending on the market, you could easily spend anywhere between $100- $200 advertising per week. *A note to remember – when advertising, you have to abide by certain state laws.

Be sure to speak with an attorney or an experienced agent who is willing to give you free assistance. Lets not jump the gun here, though. First, you need to price your home. You can do this with a pre-appraisal or by paying for a Comparative Market Analysis, called a CMA. Although the CMA will not provide the exact amount you should charge, it will give you a ballpark price.

We always suggest starting slightly above your ideal target, because the buyer will try to negotiate and get you to lower your asking price. Here is where agents can practically pay for themselves. Agents have access to key data for identifying market trends and experience in pricing your home properly.

Over or under pricing can have a devastating affect on your result as a FSBO. This is why most people use an agent. Those who fail to properly price may end up getting less than possible (even after commissions) if they had used an agent. As a FSBO, though, you’ll find that you will get less traffic walking through your home, especially if you have not paid to be included in your local MLS (multiple listing service).

You can do this for an inclusion fee, which varies with MLS. The fee will range between $300-$500. If you fail to get good results from the MLS and advertising, the risk of lack of potential buyers looms. This means your odds of getting a strong asking price are reduced.

If you have an agent, the agent will do the majority of negotiating for you. This is where their experience shines: They know how to deal with the other buyer’s agent, as well as any concerns arising from the transaction. If you are a FSBO, you have to deal with this process and we warn you, a seasoned agent might take advantage of your lack of knowledge and pressure you into doing more than you need too. To combat this, we suggest hiring an attorney.

Let him or her look over the paperwork and ask for his/her presence at the closing. Without an attorney, you’re really taking the risk of missing something.

Therefore, if you sidestep an agent, make sure your attorney becomes your friend. Depending on their involvement, their cost will run a couple hundred dollars (to look over the contract), to a thousand dollars (being involved during each step to the closing). If you take the FSBO approach, be careful to find an attorney that peruses the documents. Another aspect you will need (as a FSBO) is flexible time.

When someone wants to look at your home, you need to be ready to show it and be there! This means you have to meet the buyer’s needs. Whereas working with an agent, he or she will take care of this and will work with the buyer’s agent, reducing your involvement dramatically. Once again, we run into another legal issue.

When you work and show your home with the buyer, by law you are required to take certain steps and provide the buyer with specific disclosers. Again, we recommend that you find a good real estate attorney to tell you what things, by law, have to be disclosed to the buyer prior to a sale. It’s imperative that they read any contracts, and ensure you do not inadvertently discriminate against potential buyers.

These are some plus and minuses in entering the FSBO world. Although we are obviously biased to using an agent, there have been many successful FSBO’s transactions. Therefore, if you take this approach, just be sure to hire legal advice to keep you on the right track. If you are going to sell your own home, still feel free to contact my office. I can assist you in some areas.

Here are some other facts about FSBO’s to take into consideration. For Sale By Owner (FSBO) Statistics Did you know? The typical FSBO home sold for $145,000, compared to $175,000 for agent-assisted home sales.

FSBO Methods Used to Market Home Yard sign 72% Friends/neighbors 27% Newspaper ad 61% Open House 41% Internet 20% Most Difficult Tasks for FSBO Sellers Getting the right price 19% Understanding paperwork 30% Preparing / fixing up home for sale 26% Attracting potential buyers 7% Having enough time to devote to all aspects of the sale

The fair market value is the amount a buyer will pay and the amount a home seller will accept.

Assessed value has nothing to do with market value. The assessed value is nothing more than a figure the local municipality uses to collect the appropriate amount of taxes.