How should I prepare to sell my house?

2008-06-18T13:34:00.000-07:00

When you are preparing to put your home on the market, there are a few "key ingredients" to the recipe you must remember in order to maximize the buyer pool for your home.

First, all major repairs that will become an issue in negotiations, should be repaired. These are things like, broken HVAC system, leaky roof, bad carpet, etc. You can always deduct the value of these items from the sale price of the home, but usually the seller comes out on the short end of that deal. Fix the issues before showing, and now you have a few more bullet points to showcase to your buyers pool. i.e. New Roof!, Brand New Heat Pump! These additions although cost you money out of pocket, will usually be reimbursed and then some with the higher sales price your home now commands.

Secondly, you need to "stage your home" for prospective buyers. There are various levels of staging that a homeowner can go to, but I always recommend at least three things. Keep the outside looking neat and maintained, keep the inside clean and organized, and set your home up so that others could easily see themselves living there.

This means, take family photos down, and replace with art. Eliminate the clutter of "your junk" in drawers, coffee tables, etc. Take 1/2 your clothes out of the closet while on the market, to make your closet appear larger. Repaint any stark colors with neutral tones that appeal to a larger group of people. Mow your lawn, trim hedges, and weed the flowerbeds.

Your goal is to turn what has been your home for so many years into a desirable product for as many buyers as possible. A clean organized and well thought out staging will shorten your listing time and likely add more to your overall sale price.

Finally, prepare to be accessable. Often times clients will list their homes and refuse to take showings between certain hours, certain days, or if no one is home. The easier you make it to show your home, the more likely you are to get a buyer, sooner. Buyers will not wait days for you to set an appointment, they will go to the next house and not think twice about yours. Have your home show ready at all times during the listing phase and be ready to walk out the door when the appointment comes in. It is a pain sometimes, but it is a necessary evil to sell your home quicker.

As a seller, if you prepare yourself and your home by staging properly, fix the problems ahead of time, and make your home accessable to buyers, you can dramatically reduce your homes time on the market, and the stress hanging over your head while trying to sell a house.

If I've found the house I want, do I really need a buyer's agent?

2008-06-17T12:17:00.000-07:00

Well, to answer this question, you must first ask your self two more. First, "Am I a licensed real estate broker with the knowledge and experience of hudreds of transactions to guide myself through this particular sale?" If the answer is yes, you can proceed with the sale under your own watchful eye. If you answered no to the first question, then go to question two. "Do I really care about having a negotiator on my side of the deal working for my best interests?" If you answered yes to this question, then you may need to hire a buyers agent.

Before you get all worked up and think, "there goes more money out the door," the first thing that most real estate novices do not realize is, that in NC the seller typically pays the commision to the agents in the transaction. Most times, you can hire a buyers agent at no cost to you. Most sellers are willing to compensate an outside buyers agent with commission for bringing a qualified buyer to him. So your first objection to the buyers agent has been shot down.

Secondly, whether you realize it or not, if you arent working with a buyers agent, under a buyer agency contract, then you have no representation in the deal. If you call the agent that has her sign in front of a listed home youd like to see, that agent is an employee of the seller. Anything you tell her will, by her duty to the seller, be reported to the seller. And guess what, when it comes time to negotiate that contract, she's still working for the seller (barring any dual agency agreement) and she's still working to get the highest price possible for that seller. You have no advantage without a buyers agent, and many more with one.

The short of it is, its almost always free to hire a buyers agent, they are bound to represent you during negotiations, your confidential information will not be transmitted to the seller, as it would if you were dealing with the listing agent, and your buyers agent's main goal is to find you the property you want at the lowest price possible.

The advantages are countless for using a buyers agent. If you have questions or would like a further explanation, as always, please contact me at 919-329-8166 or edwin@yellowdogrealty.com

Yellow Dog Real Estate Blog

How should I prepare to sell my house?

If I've found the house I want, do I really need a buyer's agent?