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4 Things-to-Do Before Listing Your House for Sale

By Bigg Success Staff
03-17-08

Life Changes

home_interior 

You want to sell your house. As we’ve said before, we highly recommend that you 290 hire a good realtor] to help you through the process. Among other things, they are a great resource for 313 determining your asking price].

No house is perfect. A reasonable buyer won’t expect yours to be. However, with the counsel of your realtor, there are things you can do to increase the likelihood that your house sells sooner rather than later for more rather than less.

Here are four things you should do before listing your house for sale.

#1 – Get a professional inspection
Chances are high that your buyer will want an inspection. So be proactive and get one before you take your house to market. Talk to your realtor to see which, if any, repairs you should do before you list it.

Your buyer will take comfort in knowing that an inspection has already been done. You’ll have receipts for work that you’ve already completed. Then your inspection report can be a marketing tool.

#2 – Make cosmetic improvements

Talk with your realtor about the aesthetic changes you should make. Minor things – like a fresh coat of paint, fashionable window treatments, refaced cabinets, or refinished bathtubs – often make a huge difference.

If you can’t do the work yourself and don’t know someone, ask your realtor for a referral. They’ll almost certainly have a stable of people with whom they regularly work.

#3 – Clean it
When you bring it to market, your house should be cleaner than it ever has before. Remember cleaning your apartment to get your security deposit back? That’s not good enough!

Simply stated, the cleaner your house, the better it will show. If you don’t want to do it yourself, pay someone to do it. Your realtor can help you find a good cleaning company, if you don’t know one. 

#4 – Stage it
Discuss staging with your realtor. If you’ll be moving out of the house before putting it on the market, you may want to work with a professional staging firm. If you’ll continue to live in the home while it’s on the market, you may do some minor redecoration. For example, you may want to remove photos of your family so potential buyers can picture their family in the house

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How Do You Determine the Asking Price for Your House?

By Bigg Success Staff
03-11-08

Life Changes

price_is_right 

Determining the initial asking price for your house is an important decision. If you set it too low, you may leave money on the table. If you set it too high, potential buyers may just pass you by.

We’ve said before that we highly recommend selling your house through a good realtor. They’ll earn every penny you pay them. Helping you determine your asking price is one of the ways they’ll do it.

5 things you need to know to determine your asking price

#1 – Time on market
Your realtor will know about how long it takes, on average, to sell a house in your market. This is good information to have. If it fits with the schedule you have in mind, you can price with the market. If you want to sell it faster, consider setting your asking price a little lower than you otherwise might.

#2 – Spread between ask and sell
Most buyers assume that your asking price is not your selling price. Your realtor should be able to give you an idea of how much sellers are reducing their asking prices to move their home. If you set your asking price much higher than that assumed spread, buyers will move on without even looking at your place.

#3 – Comparable transactions
How much are sellers getting for houses like yours? Your realtor will look at actual sales of houses like yours so you get a feel for the market in which you’ll be competing. This is probably the single most important thing for you to understand to set your price appropriately.

#4 – Comparable listings
You also need to understand how listed houses like yours are currently priced. That’s what your buyers will see. Buyers see a lot of houses; you only see one. They get to know the market relatively quickly.

Also, try to get a feel for who the sellers are. If there are a lot of empty houses on the market, you’ll know that you’re competing with investors, homeowners who have already moved on, and financial institutions who have repossessed the house. They are likely to discount more heavily than your typical homeowner.

#5 – Price levels
Finally, talk to your realtor about strategies. Sometimes there are price points that heat up – houses selling in a certain price range are in demand. This will help you determine if you should put your house on the market at it is or if it might pay to do a little work before you list it.

Your realtor works for you. They are in the market every day. They know it. However, they can only make recommendations. You have to make the final decision on price.

Hear today's lesson and laugh on The Bigg Success Show.

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7 Steps To Sell Your House … Fast!

By Bigg Success Staff
02-26-08

Life changes

for_sale_sign 

What’s a homeowner to do in a market like this one? That’s not an easy question to answer, but keep in mind that this isn’t the first time, nor will it be the last, that the market has turned against sellers.

You may need to move on or want to move up, but you have to sell your house before you can afford to do it. You’re worried because you keep hearing horror tales of homeowners struggling to sell their homes. It’s a buyer’s market, we’re told.

Don’t believe it outright!

Real estate is still very much a local market. What happens nationally to mortgage rates may affect markets as a whole. However, what drives the market you’re in is the market you’re in.

It’s simply the ageless law of supply-and-demand. If there are more buyers than sellers, prices will rise. When the opposite is true, they will fall.

If that’s the case in your market, consider holding out for awhile. Sit tight and wait for the demand to catch up with the supply.

If you can’t wait, then you should approach the sale purposefully. Here are seven steps to sell your house … fast!

#1 – Select your realtor.
Good real estate agents earn every penny that you pay them. Selecting the right one for you, your home, and your situation will save you an immense amount of frustration. They also will be a tremendous resource for the following steps.

#2 – Establish your asking price.

With the help of your realtor, get a feel for your market so you can set your price. You’ll need to understand how many houses are on the market, how fast they’re moving, the best price points for houses like yours, how those houses compare to yours, and more.

#3 – Get it ready to market.
Avoid untimely surprises by getting an inspection before you put your house on the market. Discuss cosmetic improvements and staging with your realtor. Make sure it’s cleaner than it ever has been.

#4 – Agree on a marketing plan.
You should know upfront exactly how your agent will promote your house. Insist on an attack on multiple fronts – web sites, advertisements, a brochure, open houses, “realtor caravans”, and more.

#5 – Differentiate your offer.
Discuss incentives with your realtor. You may offer a bonus of some sort if your property sells within a pre-determined period of time. More likely, you’ll offer some sort of incentive to your buyer. Don’t be afraid to get creative – your realtor should welcome a flexible seller.

#6 – Insist on a weekly report.
Agree upfront to regular reviews. Your realtor should be happy to update you on marketing activities, showings, comments, and suggestions every week. This serves two purposes: it makes your realtor accountable and it keeps you from bugging them too much!

#7 – Have a contingency plan
As part of your initial pricing strategy, you should discuss alternative plans. You may drop your price or consider an additional incentive for buyers if your house hasn’t moved by a certain date. Plan these things upfront to remove your emotion, but remain flexible and listen to your realtor’s advice.

You can’t control the market, but if you follow these steps you’ll more likely be the first one on your block to sell your house. Selling your house is no different than selling anything else. You just need to be a willing seller with a realtor who can connect you with a willing buyer!

Hear today's 5-minute lesson and laugh on The Bigg Success Show 

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