How To Get Top Dollar In Any Market
The three main factors in real estate sales that assist sellers in netting the most money in the shortest time period are preparing a property for a great first impression, making showings as easy and convenient and pricing the property at the current market value. Here are a few things to do before putting a sign in the front yard and an ad in the paper.
Real estate professionals often talk about the importance of first impressions---that subjective, intangible quality that has buyers thinking emotionally rather than logically. We've all experienced it: you know, that singular moment when you know that this place is special! Something about it has your heart beating just a little bit faster. Perhaps it's the way the home sits on the property, or the lush landscaping, the fabulous fairway view, or how the emerald waters touch the sugar white sand taking your breath away as you peek from the balcony. Something calls to you and you respond, "Yes. This is it. I want it."
First impressions are very important. Look at your property objectively, compare it to other properties, then sit down with your Realtor and review your findings identifying what features are positive and what areas need work. Develop a "to do" list to bring your property to show condition. Small enhancements can make a big difference. Here are some ideas to get you started:
- Clean. You want buyers to see that this property has been well maintained.
- Unclutter and Organize. Now is the time to have a garage sale and to remove unneeded items. Replace or remove any items that will not be included in the home sale. Organize storage areas to promote a clean, spacious feel.
- Repair.Work your way through your "to do" list. Don't forget to replace dim and burned-out bulbs.
- Spruce up the yard and landscaping.Mow the grass and trim the trees and bushes. You can also add a splash of color and life with hanging flower baskets and green plants.
- Paint and polish.A clean coat of paint makes an area smell clean and look neat. Polishing the accessories brings out the details.
Make Showings Easy
Next, you'll want to make your property easily accessible to potential Buyers. A lock-box on your property is generally the simplest way for making showing appointments as smooth and hassle-free as possible. Also rental information, the covenants/restrictions and a seller's disclosure should be readily available to ensure that these potential buyers have all necessary information about the property so a contract can go smoothly.
The third feature that must be addressed is the need to initially price a property at a competitive market value. The market is so competitive that even overpricing by a few thousand dollars could mean that your home would not sell. An overpriced property minimizes showings and reduces agent-buyer response resulting in diminished offers. Overpriced listings also limit financing. In the end, overpricing results in less net proceeds for the seller and a property on the market for a longer time period.
Real Estate is a process, so take the steps to prepare your property for that first impression, make showings easy and convenient and set the price to the current market value. Then your real estate experience should run smoothly and you'll be able to sit back and enjoy the process.
Note:Each transaction is different and the above description is not intended to represent your actual situation and may not apply to your circumstance, nor is it intended as legal of binding advice.