Selling a home in today’s changing market isn’t always easy, but your Windermere agent can help you improve your chances of success by providing accurate, up-to-date information on your local market, guidance on how to prepare your house for sale, and insights on negotiating the best possible price. There’s a lot to consider as you make your way through the selling process, but remember, you have a tremendous resource in Windermere. We offer the expertise of our real estate pros and marketing resources, including our website, Windermere.com.
Do your homework Every real estate market is different. You can get to know yours by visiting nearby open houses. In addition, your Windermere agent can show you list prices, actual selling prices and days on the market for homes that have recently sold in your area. Although knowing the selling prices is important, understand that it’s only part of the story. Sometimes sellers make concessions to homebuyers that are not disclosed to the public. The sellers may have paid part of the closing costs, replaced an older furnace or offered some other high-ticket concession.
Your agent can also provide an overview of your competition and what they’re offering. What you’ll really want to pay attention to are home sale prices in similar neighborhoods with homes that are comparable to yours in terms of:
square footage
layout
lot size
amenities, updates and additions
year they were built
overall condition
Your agent will help you determine your price based on these real-world market factors.
Be strategic about pricing After reviewing what you’ve learned with your agent, compare list prices and sale prices in your area. Are most homes selling for more or less than their asking price? This is an important factor to consider when you set your price. According to the National Association of Realtors, in 2009, buyers typically paid slightly less than asking price, with the median purchase price at 96 percent of the asking price. Conversely, roughly one in 10 buyers paid more than the asking price.
Let’s say the last three comparable home sales in your neighborhood were for $600,000. In a buyer’s market (one in which there are more homes for sale than interested buyers), you might want to price your home at $599,600—a price strong enough to get potential buyers to tour your home. But be prepared to negotiate. If you’re in a seller’s market (where there are far more buyers than homes), you might want to add as much as 10 percent to the price of the last comparable house sold in your area. That means you could ask for as much as $660,000 for your home.
Another factor to think about is how quickly you need to sell your home. If you have time, you might go a little higher, but you don’t want to have to drop your price later. On the other hand, a lower price can start a bidding war between prospective homebuyers.
The fact is, pricing your home is complex, but you have a professional you can turn to. No one is more familiar with property values and market trends in your neighborhood than your Windermere agent.
Get the word out When your home is in order, your yard is immaculate and your house is finally on the market, make sure your prospective buyers know about it. Buyers increasingly use the Internet to look for houses, so get your property listed on Windermere.com. Your Windermere agent will ensure that your listing ad shows your home to best advantage, with attractive photos, an appealing description and all the facts a buyer needs. Your agent will also print flyers and host open houses where buyers can check your property out in person.
Try something different In a seller’s market, you can often choose among multiple offers. But in a buyer’s market, you may need to move a sale along by getting a little creative. That’s something you’ll want to discuss with your Windermere agent. For example, you might come up with an incentive. You could help your buyer cover closing costs, offer a one-year home warranty, or include major appliances, such as your washer and dryer, with the sale. If you have an older home, consider getting a pre-sale home inspection; you could use a clean inspection report to reassure buyers who are on the fence.
Keep an Open Mind When you decide to sell your home, it's time to detach emotionally and think of it as a financial asset, not as your family's much-loved dream house. Bear in mind that in a buyer's market, people expect to pay less. If they make a low-ball offer, don't reject it out of hand. Talk to your Windermere agent about making a reasonable counter offer and see what happens. With a little negotiating, you may do quite well. Get the facts on your local housing market. Call your Windermere agent today!
Tips Making the Right First Impression
You get one chance to make a first impression. Make sure your house looks attractive, well maintained and move-in ready at a glance. Before you put out your “for sale” sign, put these tasks on your to-do list.
Get your yard in shape Mow the lawn; trim the hedges; haul away debris; sweep the walk, porches and patio; and consider adding some potted plants or hanging baskets for a touch of color.
Keep it clean Make sure your house can pass the white-glove test. Polish windows and scrub bathrooms, appliances, counters and floors until they gleam. Vacuum carpets, rugs, drapes and upholstery. Dust shelves, floorboards and molding.
Give it a fresh coat Paint the front door, walls leading to entrances, ceiling stains, cracks, chipped or damaged areas. A little paint goes a long way to improve the look of your home.
Just fix it Repair anything that needs it, including broken doorbells, torn screens, leaky faucets, broken deck railings or banisters, damaged floor tiles or doors that don’t close properly.
Lose the chaos Organize your rooms, closets and basement—anywhere a prospective buyer is likely to look. And don’t forget to remove pets and litter boxes.
Set the stage Help prospective buyers imagine life in your house. Remove excess furniture and rearrange what remains so that rooms look spacious and welcoming. Light scented candles, play soft music, add flowers here and there. You might even bake cookies.
Reach buyers where they are—on the Internet.
According to a recent survey conducted by the California Association of Realtors, a whopping 84 percent of homebuyers shop online first and spend up to six weeks doing so before contacting an agent. Now, more than ever, you need to reach those prospective buyers online with the information they require to take the next step. And Windermere is here to help you do just that.
Your Windermere agent has access to the most advanced online marketing system in the industry. This system enables you to reach an enormous pool of prospective buyers through a wide variety of media, including such popular online vehicles as Google Base, Trulia, Yahoo! Real Estate, Realtor.com, Zillow, Craigslist and our own website, Windermere.com.
Windermere.com is designed to make searching for homes fast, easy and appealing for prospective buyers. Our powerful search engine is downright buyer-friendly: potential buyers can find your ad by address, city, state, zip code or MLS number (a unique number given to a home listed in the multiple listing service used by real estate professionals).
Windermere agents are proven marketers who know how to interest potential buyers in your home. Your agent will make sure your listing includes all the information prospective buyers need, along with an appealing, well-written description and attractive professional photographs of your home.
In today’s market you need an online strategy to get your home in front of prospective buyers. Talk to your Windermere agent to get started on yours today.
