Now that your house is ready to be put on the market, it is vital that it is priced so that it sells at, or close to, your asking price and so that it sells quickly. Houses are a market commodity that should therefore be priced at market value. A common definition of market value is “What a ready, willing buyer will pay, at a price a seller will accept.” In order to determine the market value of your home, I will be happy to do a CMA, or Competitive Market Analysis, of your home. The CMA compares your home to other houses in the area in terms of square footage, amenities, condition and relative age. You may want to provide your Realtor© with a list of items about the property that you feel are major advantages. Here are a few other things to keep in mind:
When Setting the Price, Keep in Mind:
- The asking price is not the same as an appraisal price. An appraisal value is what the lender will loan someone who wants to buy your home.
- It may not reflect the market value of the home.
- List price is not permanent. It may change and you should be prepared for negotiation.
- Overpricing will make your home sell more slowly, causing you to spend money to keep it in “selling condition” for a longer amount of time.
- Interest rates may also contribute to the price set on your home.
- Location is a large factor in figuring out a realistic price for your home. The same home in a different neighborhood would have a different price.
- You can make the price a little bit higher, but add that you will pay closing costs or give an allowance to the buyer for fixing the roof, etc.
- It is also important to be clear on what exactly is included in the sales price. Any exclusion (such as removable fixtures, decorative lighting, draperies, appliances, etc.) should be written into the contract.
It’s true what they say about first impressions; they really are important. Now that we are actively marketing your home and will soon be bringing potential buyers to view it, the home should be ready to show at all times. In addition to the steps you’ve already taken to get your home ready to be put on the market, here are some extra tips to help ensure that your home makes the best possible impression at showing.
General Tips for Showing Your Home
- Make the home welcoming and inviting by keeping it clean and tidy.
- Have everyone in the home make their bed every morning.
- As soon as you are finished with dishes, place them in the dishwasher or stack them neatly in the sink.
- Once again, keep the home clutter-free. Buyers won’t purchase a home they can’t see. Get rid of anything you don’t need or use.
- Eliminate bad smells by bathing your pets, cleaning out cat litter boxes frequently, shampooing the carpets, dry cleaning your drapes, emptying trash and ash trays often and refraining from cooking fish and other strong-smelling foods. Baking a frozen pie is another clever tactic some sellers use to make the home seem cozy and inviting.
- Let plenty of light in. Brightness improves a home’s atmosphere.
- Make sure the temperature is comfortable.
- You may want to set the dining room table to display a homey environment.
- Hiring a cleaning service once a week will make it easier to keep the house in “show condition”.
- During a showing, you may want to leave so that the buyers can feel free to ask the Realtor© candid questions.
- Be courteous, but don’t force conversation.
- Turn off radios and televisions; they can be distracting.
- Keep pets out of the way.
- Don’t apologize for the condition of the home. If there is a problem, pointing it out will only emphasize it.
A Realtor© representing a Buyer has called and will be arriving in 15 minutes to show your home. Here is a quick checklist to make sure you’re ready.
- Pick up debris (newspapers, clothes, etc.).
- Turn on lights and open curtains.
- Tidy the kitchen: __counter tops __dishes __take out trash
- Tidy the bathrooms: __flush toilets __shine fixtures __hang towels neatly __empty trash __wipe counters
- Make beds.
- Close garage door and turn on garage lights.
- Make sure outside walkway and entry porch are clear of debris.