The Real Estate Market Has Changed . . .
“Buyers are far more discriminating, and a large percentage of the homes listed for sale don’t sell the first time. (You are competing with New Construction here in Loudoun County, in most cases. Plus, the builders offer many incentives that lure away your buyer.) It’s more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money.”
Remember not so long ago, when you could make your fortune in real estate? It was nothing then to buy a home, wait a short while, and then sell it at a tidy profit.
And then do it all over again.
Well, as you probably know, times have changed. As good as the market is right now, home prices are fast approaching what they were at their peak of 2005 Levels. Buyers are far more discriminating Today (2018.)
The 7 Deadly Mistakes Most Home Sellers Make
- Selling without a Professional Realtor.
- Using a Realtor who marketed to you based upon a Low Commission. Big red flag! (Ask yourself, who’s interest you think they going to represent?)
- Selling/marketing your home in ‘AS IS’ condition.
- Not preparing their home for the buyer’s eye.
- Over-Pricing your home. Not to mention failing to recognize the liability the mortgage note represents to you.
- Making it difficult for buyers to get in the property.
- Failing to obtain a pre-approved mortgage for your next home.
The 7 Step System to Get Your Home Sold Fast and For Top Dollar
Selling your home is one of the most important steps in your life. This 7-step system will give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the home selling process:
1. Know why you’re selling and keep it to yourself.
The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. What’s more important to you: the money you walk away with, or the length of time your property is on the market? Different goals will dictate different strategies.
However, don’t reveal your motivation to anyone else or they may use it against you at the negotiating table. When asked, simply say that your housing needs have changed. Mike works very hard to keep you out of direct contact with a buyer or their agent. As often innocent conversation can give away some of your needs.
2. Do your homework before setting a price.
Once you’ve set your price, you’ve told buyers the absolute maximum they have to pay for your home, but pricing too high is as dangerous as pricing too low. Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours. This means that they have a basis of comparison, and if your home doesn’t compare favorably with others in the price range you’ve set, you won’t be taken seriously by prospects or their agents. As a result, your home will sit on the market for a long time and, knowing this, new buyers on the market will think there must be something wrong with your home.
3. Do your homework.
(In fact, your agent should do this for you). Find out what homes in your own and similar neighborhoods have sold for in the past 6-12 months, and research what current homes are listed for. That’s certainly how prospective buyers will assess the worth of your home.
4. Use a professional Broker/Agent (Mike Flannagan) to represent your needs.
Nearly three-quarters of homeowners claim that they wouldn’t use the same realtor who sold their last home. Dissatisfaction boils down to poor communication which results in not enough feedback, lower pricing and strained relations.
5. Maximize your home’s sales potential.
Each year, corporate North America spends billions on product and packaging design. Appearance is critical, and it would be foolish to ignore this when selling your home.
You may not be able to change your home’s location or floor plan, but you can do a lot to improve its appearance. The look and feel of your home generates a greater emotional response than any other factor. Clean like you’ve never cleaned before. Pick up, straighten, unclutter, scrub, scour and dust. Fix everything, no matter how insignificant it may appear. Present your home to get a “wow” response from prospective buyers. Consult with Mike on this before going to market.
Allow the buyers to imagine themselves living in your home. The decision to buy a home is based on emotion, not logic. Prospective buyers want to try on your home just like they would a new suit of clothes. If you follow them around pointing out improvements or if your decor is so different that it’s difficult for a buyer to strip it away in his or her mind, you make it difficult for them to feel comfortable enough to imagine themselves an owner.
6. Professional Photos are a Must!
Professional pictures are more important today than EVER! Today’s buyers are shopping hundreds of houses online before nailing down the 10-15 they will tour before making a buying decision. Mike uses professional photographers for every home we sell. We also track how many times people view which pictures most. This will allow us to understand which features are trending as most important to today’s buyers. Also increases the amount of internet exposure we can bring to a property.
7. Know your buyer.
In the negotiation process, our objective is to control the pace and set the duration. What is your buyer’s motivation? Does she/he need to move quickly? Does she/he have enough money to pay you are asking? These are just a few things Mike finds out when dealing with them or their agent. Knowing this information gives us the upper hand in the negotiation because we know how far you can push to get what you want.
When you invite me in, I bring Results!