It is not enough if the appearance of the home is impressive. The selling price should be competitive to gain high return on investment. Here are some tips the we, at the Cerkin Agency, encourage you to consider.
Suggestions on establishing your selling priceComparative Market Analysis:
What is a CMA?
A CMA is an approximate fair market value (see below)
that is given for the property.
The CMA is determined by an on-site view of your property for sale. We will examine the condition and features offered. Next, similar properties that have recently sold and current similar listings are compared to your property and adjustments in value are added or subtracted based on the varying features and conditions of the other properties for sale that are similar to yours.
Fair Market Value:
The value of an item as established by a consideration
of how much an independent buyer would pay to an independent seller
in a completely free transaction for the item.
Establishing Your Selling Price
If you start out with too high a price on your home, you may find that you have just added more stress to yourself -- and selling a home is stressful enough.
Our agents market and promote your home to many of other local real estate agents who work with homebuyers, dramatically increasing your personal sales force. During the first couple of weeks your home should be a flurry of activity with buyer’s agents coming to preview your home so they can sell it to their clients, providing the price is right.
If you have overpriced your home then you can be certain that fewer agents will be willing to preview your home - They are Realtors and it is their job to know local market conditions and home values - Their time is better spent previewing homes that are priced realistically and if your house is priced dramatically above market why would they waste a prospective buyers time when they can show an equally comparable home priced for less.
Benefits of Proper Pricing
Proper pricing reduces these demands on you by helping your home sell faster. You may already know how much energy it takes to prepare your house for showings (cleaning, etc..)
At fair market value you open your home up to more people who can afford the asking price. Sellers who list at a higher price hope that they’ll find the one purchaser who will pay it but often do not realize that they have discouraged many potential buyers who could have afforded the price that the seller will end up accepting at a later date.
When salespeople are excited about a home and its price, they make special efforts to contact all of their potential buyers. Knowing that it is priced properly for its market, they expect it to sell soon and encourage their prospects to act quickly. Their excitement is contagious!
When a home is priced right, buyers fear they might lose out on a good home, so they will be less likely to make "low ball offers."
If a home is priced right, the excitement of the market produces higher sale prices. You net more both in terms of actual sale price and in mortgage payments and other ownership costs.
It is very important to sell your house for a handsome price to gain high return on real estate investment. The buyer will be prepared to pay a good price only if he is impressed by you home. Here are some tips for selling your home.
De-Personalizing Your Home:
The reason you want to make your home "anonymous" is because
you want buyers to view it as their potential home. When a potential homebuyer
sees your family photos hanging on the wall, it puts your own brand on the
home and momentarily shatters their illusions about living in the house themselves.
Be sure to put away any family photos, sports trophies, collectibles, knick-knacks, and souvenirs as part of preparing your house to sell. This will aid in your mission to remove "clutter" and create more space. See How to "enlarge" your rooms
Consider this - If you were to visit a new model home you may notice there may be a baseball glove in the boy's bedroom, but no family photos on the walls. Why you may ask? It gives the home "personality" but no person to attach it to.
In today's age of consumerism, every buyer is comparative shopping and a small investment in time and money can give your home a solid advantage over other competing properties for sale. The following are some helpful suggestions for preparing your home prior to showing prospective buyers.
- Repair leaking faucets and toilets
- Clean the furnace and all filters (if applicable)
- Tighten up the door knobs and latches
- Touch up paint where needed
- Clean the windows and repair any broken ones
- Repair seals around tubs and sink basins
- Replace any defective light bulbs
- Apply oil to any squeaking hinges on the doors
- Clean and freshen all bathrooms
- Clean the refrigerator and stove (inside and outside)
- Clean around heating and A/C vents
- Clean clothes washer and dryer
- Clean carpets, drapes and window blinds
At The Entrance:
- Keep porch and foyer areas clean
- Make sure the door bell works
- Apply fresh paint or varnish on the front door
- Repair any door locks that may need it
Contact us for an on site review of your property.