As a seller you will get a lot of advice from your real estate agent, your family and friends. Sellers are sometimes conflicted and confused by all the information they receive. Here are tips worth paying attention to – my 4 best tips for sellers.
1. Know what you are going to net from the sale of your home.
The first thing you should ask from your realtor, is an estimate of what you will net from the sale of the house. Make sure you are provided; A. Best case scenario B. Ok scenario C. Worst case scenario. Make sure your agent includes all your selling costs so you can see what your net income from the sale will be. Understanding your financial position will help you make smart decision during the sale of the home. You will negotiate knowing what your bottom line is.
2. Price your home fairly or should I say, stay away from over pricing your home.
Sometimes home owners have a hard time accepting what their realtor or what the numbers are telling them. Some home owners already have a number in their head. If homes similar to yours sell for $400,000 in your neighborhood and you want to sell yours for $500,000 because you have a half bath more than the other homes, you are making a mistake. Ask yourself, what reason does a buyer have to want to overpay for your home? NONE! I once heard that if you buy a mug and ask 5 people to be sellers and 5 to be buyers of this same mug, you will get different results based on whether they are in the seller group or buyer group. The sellers will say the mug is worth $10.00 and buyer group will say the mug is worth $6.00. So there is little chance that a buyer will agree with your price. Worse a house that lingers on the market will cost you money.
3. Paint the house.
Here is one piece of advice you should just take to the bank. Find a neutral color and use it.
4. Get emotional but don’t get emotional.
I never want to tell anyone not to be emotional because selling a home is a very emotional process. It is hard to hand over a home you have lived in and made memories in to a stranger. However when selling or in negotiations try to remember the buyer does not have the great memories you have of your house. This is a new thing to the buyer and they must check it out. So when the buyer makes unreasonable repair demands, remember this is just an ask. Consider the cost of this ask, if its something easily taken care of or the cost is minimal then get it done.
