7 Things You Need to Know Before Listing Your Home
Before You Begin
When selling a home a lot of things will matter before attempting to entertain any potential buyers.
As a REALTOR®, I speak with many potential sellers and there are a lot of things that must be accomplished before listing a home for sale.
For the sake of argument, I am going to assume that you are selling your primary residence, not an investment property. If the home is vacant then a few of the items I will be sharing will not apply unless you are staging the home.
Listing Your Home For Sale
When listing a home for the first time there are a lot of things which really matter.
The first one is that the new buyer who will be coming by your home is buying the home for themselves. They are the ones who will be enjoying the use of the home for their own purposes. I know that may sound redundant, but it is something most sellers tend to forget.
The Before Steps
Things to do BEFORE listing your home.
1) Remove all personal knickknacks and photos.
One of the first things that you will need to do is to de-clutter the home. This means packing away all of those personal ornaments that are scattered throughout the home.
You want the place to look like it is a staged home, not one that is heavily lived in.
Also, when you and your REALTOR® have an agreement, he or she or a professional will come by to take photos of the home. It needs to look amazing for those photos.
This is because the buyer will see the photos first and if those photos intrigue them then they will make an appointment to view the home.
2) Paint and do your basic cosmetic repairs.
The next item is to paint those glaring issues with the home. This will include young Bobby’s penciled growth on the door jamb or wall. As with the one above this is the personalization of your home. The new buyer will paint over it anyways.
By doing the minor repairs now means that it won’t be a potential negotiation killer in the future.
Remember the buyers are looking to buy a perfect place. The sellers are selling a home that they know is either not perfect or is pretending to be perfect.
3) Create wonderful curb appeal.
This is the first impression people have of your place. This is what your home looks like from the street. If you have a beautiful home on the inside make sure the outside whets their appetites as to what they will be seeing.
The curb appeal is their first sight of your home. A home that is beautiful inside with a bad curb appeal will be a turn-off before they even step inside.
4) Make sure the home is clean and looks it best.
This is especially true when your agent comes by to take photographs. This is, to me, the make or break of a good advertising campaign.
5) Get Comparable Sales
Learn what other homes are selling for in your area. This is more commonly known as “comps” or “comparables”.
When hiring an agent this person should get these numbers for you. The next thing is the pricing of the home. Overpricing it can lead to almost nobody coming to visit.
6) Setting the Price
As a REALTOR®, I have seen people overprice the home quite frequently. This is very true in an appreciating market.
It has been said in some sales and marketing classes that you can always come down on price, but if it is priced too high nobody is even going to want to negotiate at all.
One thing a good REALTOR® should never do is overprice the home. If they have a client who feels that their castle is better than everyone else’s needs to be shown that over time when there are not any offers or even viewings then its time to rethink the value and price it more accordingly.
One strategy is to underprice the home in hopes of getting a bidding war. This can be dangerous if there is no war and only one or two offers come in.
When pricing the home many factors come into place. Most importantly is what are you wanting to do with the proceeds and how soon do you need it. A quick sale may mean more along the lines of underpricing.
Setting the price will require market research and that is when you may want to get a REALTOR involved.
You will need to address this before you list your home. If you are going to buy something else and your down payment is coming from the proceeds of your home selling then this has to be known upfront.
And if that is the case it can become a little tricky if you haven’t found a new place yet.
7) Finding a REALTOR®
Now it is time to find the right agent to work with you.
This may seem more easily said than done. As someone that has been in the market for years, you need to be wary of any agent guaranteeing anything. The listing agent has little control over who is going to buy the home. Their job is to make your home seem as attractive as possible and to aid you in pricing it.
It is a rare event when a listing agent also represents the buyer. There may be thousands of other agents who have their own buyers who will come across your home in their searches.
I will admit that most sellers want guarantees but there are no real guarantees in life. If a listing agent is stating these then be wary of they are doing. They may be saying this just so that you will list with them. A more professional agent will not say these things because he or she knows what can happen when that guarantee starts to fall flat.
Now that you have the 7 Things you need to do BEFORE listing a home I do hope you the best of luck in your endeavors to sell your home.
As always, best of luck in your sale.