The sun will always rise in the east and set in the west. All people will someday die and, as long as you make a certain amount of money, you’ll always pay taxes.
There are some things in life we cannot change, no matter how much we wish otherwise.
Real estate, too, has its immutable laws and there are three very important ones you should pay attention to as you get ready to put your home on the market.
1. No, your home in need of repair won’t be popular, unless you price it at rock bottom
Unless you absolutely cannot afford to fix what’s broken in your home, making repairs is a must. At least if you want to make the most money possible.
Don’t make repairs and your home is like chum in shark-infested waters. The buyers most attracted will be investors who won’t pay you anywhere near what you hope to make.
And, if the necessary repairs are major, it will be harder for the buyers to borrow money for their mortgage. The Valuer will report everything with full-disclosure to the lender.
Even a home in need of minor repairs – dripping faucets, ratty carpet, walls in need of patching – loses perceived value. Right now, the majority of homebuyers are millennials. (A recent US Study by National Association of Realtors) found that these buyers neither have the money nor the desire to make repairs after they purchase a home.
“They want to cook in that kitchen from day one and entertain in the backyard that very weekend,” according to Consumer Report’s Dan DiClerico.
Want to make a profit when you sell your home? Fix anything that needs it.
2.Overprice your home and it will stay on the market longer and trust us, you won’t like the offers you get on it
It’s truly a wakeup-call for many homeowners when they learn that, no, they don’t determine what their homes are worth.
Homebuyers do… and, ultimately, the lender’s valuer will.
Homebuyers today are savvy enough to have either researched market values in your neighbourhood or had a real estate agent do it for them. A higher-than-market-value price then isn’t fooling anyone.
Often, a homeowner’s rationale for overpricing is to leave “wiggle room” for negotiations. The problem with this tactic is that buyers who can afford what your home is actually worth won’t even see your listing. Your listing will be compared to homes that are larger, newer or better-maintained.
Thus, you’ll have few potential buyers to negotiate with.
Now, suppose someone does offer what you’re asking. What are the chances that the valuer will come up with an inflated value of your home? Slim to none, actually. So, to keep the buyer, or attract another, you’ll need to lower the price to where it should have been in the beginning.
3. It’s more than signs that sell homes, marketing does
Yes, that’s a nifty for-sale sign in your front yard and, yes, those full-colour flyers are attractive. But it takes a lot more to sell a home than an ad, a sign and a lockbox.
And, even though right now buyers are lining up for certain types of homes, homes in good condition in decent areas, you won’t get top dollar for yours if it isn’t marketed properly.
The internet has changed just about everything when it comes to home sales. The biggest change, however, is that potential buyers can and do begin their home search from the comfort of their homes or offices.
They’ll surf the internet, real estate sites and the big real estate portals, poring over listings of homes in the areas in which they want to live.
And, while it is your agent’s responsibility to market your home, it’s you who bears the responsibility of giving that agent something to work with.
Ensure that both the exterior and the interior are captivating enough that when potential buyers view photos of the home online, they’re compelled to want to tour it.
In eye-tracking studies, “We find that the photo is overwhelmingly viewed first,” according to Michael Seiler, founder of the Institute for Behavioral and Experimental Real Estate at Old Dominion University in Virginia.
Discover more about Marketing here.
In the age of technology, the basics of readying a home for the market – decluttering, deep cleaning and increasing its curb appeal – are no longer choices, they are necessities. At least if you hope to get the most money possible when the home sells.
Making needed repairs and properly readying your home for the market will increase its perceived value. Pricing it competitively will help it sell quickly.
It’s like hitting the trifecta!
Got questions, comments or feedback? Email [email protected]
To find out more, you’re welcome to call 08 83961100 to arrange a chat with people that care.
Alternatively, Book a Free Consultation or Get Your Home Value Here. We’ll Guide You Home!
Feel free to browse the rest of our Blog for more tips tricks and helpful info you can use.
Not sure of some of the terms & meanings used? Check our comprehensive Glossary, Abbreviations and FAQ’s!
P.S. If you are part of a Club, Group, School or Organisation and need someone to ‘Speak about Real Estate & Property’, You’re Welcome to ask or Click Here. For Sponsorship, Click Here.
Want to read in Another Language? Go to our Home page & Scroll to the bottom and choose Translation.
Want Proof of our ability? Check Client References.
Your Home SOLD in 90 Days or Less or We SELL it for FREE!
Our FEES are Less than Your First Price Reduction with the Wrong Agent.
Thanks for reading…
What else would YOU like to know about? What would make a great story?
Do you have any specific questions or advice on buying, selling, renting or investing? Real Estate trends? Local, interstate international? Info on the buying or selling process? How to sell or buy? What NOT to do?
What can you TELL us about?
Your neighbourhood – What do you love? Shops, Parks for families, pets, to relax? Restaurants, pubs, hotels, places to go, things to do? Anything else at all? Share Your Own Real Estate, Property, Wisdom & Experiences… The Good, The Bad or The Ugly? What have you learned that other people should know?
Know someone who needs help?
You can REFER them here.
Whatever Topic or Suggestion you have… email us at [email protected] or call 08 83961100. We’d love to hear about your ideas.
Like most things in life, these are recommendations only. It is not legal advice, it may or may not suit your own circumstances and you may need to make your own additional enquiries.
Regards Eriks & Team Plaza Real Estate
Powered by WPeMatico
home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas, home selling ideas,