The 3 Unchanging Rules Selling Your Home

Jeff Peterson
Jeff Peterson
Published on August 29, 2017
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The sun will always rise in the east and set in the west. All people will someday die and, as long as you make a certain amount of money, you’ll always pay taxes. There are some things in life we cannot change, no matter how much we wish otherwise.

Real estate, too, has its immutable laws and there are three very important ones you should pay attention to as you get ready to put your home on the market.

1. If your home is in need of repair, it won’t be popular; unless you price it at rock bottom!

Unless you absolutely cannot afford to fix what’s broken in your home, making repairs is a must. At least if you want to make the most money possible when selling your home.

If you don’t make repairs, selling your is like chum in shark-infested waters. The buyers most attracted will be investors who won’t pay you anywhere near what you hope to make.

And, if the necessary repairs are major, few lenders will even loan a buyer the money to purchase the home unless and until the repairs are made.

When selling your home in need of minor repairs – dripping faucets, ratty carpet, walls in need of patching – will lose perceived value. Right now, the majority of homebuyers are millennials and a recent National Association of Realtors study finds, these buyers neither have the money nor the desire to make repairs after they purchase a home.

“They want to cook in that kitchen from day one and entertain in the backyard that very weekend,” according to Consumer Report’s Dan DiClerico.

Want to make a profit when you are selling your home? Fix anything that needs it.

2. Overprice your home and it will stay on the market longer. And trust me, you won’t like the offers you get!

It’s truly a wakeup-call for many homeowners when they learn that, no, they don’t determine what their homes are worth. Homebuyers do and, ultimately, the lender’s appraiser will.

Homebuyers today are savvy enough to have either researched market values in your neighborhood or had their real estate agent do it for them. When selling your home, a higher-than-market-value price then, isn’t fooling anyone.

Often, a homeowner’s rationale for overpricing is to leave “wiggle room” for negotiations. The problem with this tactic is that buyers who can afford what your home is actually worth won’t even see your listing. Your listing will appear in the MLS adjacent to homes that are larger, newer or better-maintained.

Thus, you’ll have few potential buyers to negotiate with.

Now, suppose someone does offer what you’re asking. What are the chances that the appraiser will come up with an inflated value for your home? Slim to none, actually. So, to keep the buyer or attract another, you’ll need to lower the price of selling your home to where it should have been in the beginning.

3. Signs don’t sell homes, my marketing does!

Yes, that’s a nifty for-sale sign in your front yard and, yes, those full-color fliers are attractive. But it takes a lot more to sell a home than an MLS listing, a sign, and a lockbox. Sure, selling your home is easier now when we’re in a hot sellers’ market, but it won’t always be this easy.

Even though right now buyers are lining up for certain types of homes, homes in good condition and in decent areas, still won’t get top dollar if it isn’t marketed properly.

The internet has changed just about everything when it comes to selling your home. The biggest change however, is that potential buyers can and do begin their home search from the comfort of their homes or offices.

They’ll surf the internet, both real estate brokerage sites and the big real estate aggregators, pouring over listings of homes in the areas in which they want to live.

While it is your agent’s responsibility to market your home, it’s you who bears the responsibility of giving that agent something to work with when selling your home.

Ensure that both the exterior and the interior are captivating enough that when potential buyers view photos of the home online, they’re compelled to want to tour it.

In eye-tracking studies, “We find that the photo is overwhelmingly viewed first,” according to Michael Seiler, founder of the Institute for Behavioral and Experimental Real Estate at Old Dominion University in Virginia.

In the age of technology, the basics of readying a home for the market – decluttering, deep cleaning, and increasing its curb appeal – are no longer choices, they are necessities. At least if you hope to get the most money possible when selling your home.

As your agent, my unique marketing strategies gain over 5,000 unique visitors to my website each month! This allows my client’s listing to be seen by the most amount of potential buyers. If this is the right time for you to be selling your home, I’d love to show you my marketing plan. Selling your home will be less stressful with me representing you as your agent!

 

Another way I assure a successful transaction when selling your home, I will give you a FREE copy of my book, Secrets Every Home Seller Needs to Know.  Just click on this link and you will be directed to ordering your FREE copy.

So make those necessary repairs, don’t overprice your home, and watch how my marketing strategies bring in the most traffic and actually get your house SOLD!

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