Take a Look at What's Inside

When Should I Sell?

6 Selling Mistakes

How Do I Select a Broker To Help Me Sell?

What Details Can I Ask Brokers In Advance?

How Do I Calculate My Price?

How Do I Set The Price On My House?

Which Square Footage Figure Should I Use?
How Is a Home Marketed?

 

When Should I Sell?

As you'll see in this video, real estate marketplaces are generally most active in summer because families with children want to move in before school starts. So more homes are typically available in summer as well. But buyers and sellers tend to balance out in other seasons, too especially in today's tight market. There may be fewer buyers in late December but usually fewer homes, too. So, prices tend to rise or fall on general demand in that market rather than time of year. It's best to sell when you & your house are ready to sell. Start working with a real estate professional as early as possible to make the most of your sale in any season.

 

6 Selling Mistakes

If you're selling, don￐t do these things - take some notes from the video!

1. Don't Sell Before The House Is Ready. If it doesn't present well, it wont sell well.

2. Don't Over-Improve. People buy houses in neighborhoods. If yours is so improved that it sticks out you're hurting your chances at selling.

3. Hire Wrong. Make your agent choice for business reasons. Personal relationships matter, but experience and expertise will determine financial success in your sale.

4. Don't Hide Anything. Covering up or failing to mention real problems doesn't work. State disclosure laws are strict and you can be sued after the sale for anything that should have been made clear.

5. Don't Rush. You should know about your mortgage, including pre-payment penalties your market conditions and trends and your options for your next home before jumping on the market.

6. Don't Get Too Emotional. Your attachment to your house and your own financial needs don't really matter in the transaction. If you cant set them aside the sale won't go as you'd like it to. Remember - it was your home but to the buyer it's as a house.

 

How Do I Select a Broker To Help Me Sell?

Like the video shows, it's a good idea to compare several. And ask these questions. What is your experience in my community and neighborhood? What type of representation do you offer? Different states have different types. Some brokers represent buyers, some represent sellers some act as neutral parties between both. and in some states, different people at a single firm can handle each side in a transaction. And of course, what are your terms and fees? Get the key facts in writing to help you compare your options. Then make the best choice for your situation.

 

What Details Can I Ask Brokers In Advance?

This video tells you what any real estate professional would tell you. Ask them: how long do homes in my neighborhood currently stay on the market? How would you price my home? What data did you use to arrive at that price? How would you market my home? What activities would you expect of me to market my home? How will you handle representation if one of your buyers is interested in my home? May I speak with sellers you've recently represented? How long a period would you want on a listing agreement for my house? It's best to ask these questions, and be comfortable with your choices before signing a listing agreement.

 

How Do I Calculate My Price?

The best answer is get help from a real estate professional. But...if you only have a few minutes for a video, here are five points to consider.

1. Start With Measurement. Learn the average per-square-foot price for recent sales in your neighborhood. That won't set your final price, but its a baseline buyers will use.

2. Get Comparisons. Ask for Comparative Market Analysis - comps - from several agents. Go through each comp with each agent to understand both competitive homes on the market AND each agent's potential approach to yours.

3. Market Research. Do your own! - not just online, but in person. That will help you understand your market conditions and the buyers perspective realistically. Markets get hot and cold, up and down, and yours defines the sales envelope for your home.

4. Consider All Terms. Price isn't all there is to a sale. Can you close faster? Finance or lease-option the sale yourself? Cover some closing costs? Your flexibility can make sales leverage.

5. Its Not Personal. The hardest tip of all. Most people are emotional about their home. Pricing, in the long run, is going to logical. They're buying your house, not your home & memories. Find a real estate professional you like and trust and let them help you through the process.

 

How Do I Set The Price On My House?

While this video simplifies things to help you remember: your aim is to get the best price AND terms in your market during the period you're selling. Market conditions interest rates and competition all matter. The price you want, and the price a buyer will pay are framed by those complex conditions So pricing isn't completely predictable. Other factors include: How your home compares to other homes for the same buyers The inventory of homes and the level of buyer demand Your needs also affect negotiations - for example, if you must sell quickly - but the final price will be determined by the market not by your needs. Buyers look at the same comparable's and market conditions and they want to pay as little as possible while meeting their needs. Remember that the price isn't the entire deal - repairs, closing, points, appliances and other factors can all change the value you finally receive. Listen to your broker, stay informed, be patient if you can and make your best reasonable, unemotional decisions.

 

Which Square Footage Figure Should I Use?

Home size is one of the key figures used in comparisons. But you may have different measurements to choose from, as you'll learn in this video, including builder, appraiser, tax records and possibly owner records. Which one is right, and which one is best? The official figure is the one in tax records - typically, the county. Any other figure must be documented by a builders floor plan, an appraisal or an official floor plan, prepared by a company for a fee. If your house has been remodeled and you￐re planning to sell you may want to confirm that the official record matches your actual house - and update if required. Most lenders will require an appraisal which will verify the figures you used. So be accurate and keep records to make the most of your sale.

 

How Is a Home Marketed?

As you'll see in the video, every home and market is a unique situation. Good marketing plans are specific to both. But every plan will include: Preparation Pricing and Marketing Activities. Preparation takes time typically, months. Homes must be in show condition all repairs and upgrades complete and all photos and video completed before the home goes on the market. Pricing, likewise, should be planned in advance. Your broker will advise on both the best price and the best TERMS things like closing costs and seller credits to balance sales speed with sales price. Once the home is on the market it will quickly be entered in the MLS and will show up in Internet searches by agents and buyers. Your broker will advise other marketing activities including advertising, signage, showing and open house events so make the best of your situation. Their aim is to get negotiable offers, and then take the offer you accept through the closing process.

 

These videos are for informational purposes only when thinking about buying or selling a house. These are not intended to supersede any information or transaction that you may be involved in with a Broker, Lender or other Real Estate Professional.