· I'm ready to sell! How do I get my home market-ready?
Step 1: Reason for Selling
Step 1: Reason for Selling
It is often more emotional to sell a
home than to buy a home. The reason for selling your home may be a
determining factor in the urgency of the sale. Urgency may also have an
effect on the price of the property. It is important to take the
following factors into consideration. They can influence the sale of your home:
1.
> Reason for selling
2.
> Price
3.
> Location
4.
> Condition of property
5.
> Size
6.
> Design / style
7.
> Accessibility
· Step 2: The Cost of Selling
It is very important to first calculate the expenses that may be incurred while selling your home. This knowledge is necessary because it helps you to determine a good price for the house, as well as the potential profit you can realize. The cost of selling your home may include things like commission to be paid to the agent, taxes, advertising costs or specific reports, such as a property inspection.
·
Step 3:
Price
The most important factor when
putting your home on the market to sell is setting the right price. The price
at which your property is marketed can make or break the deal.
Over-pricing of the property may
result in:
1.
> A smaller buyers' pool
2.
> A prolonged stay on the market
that will result in lower offers being submitted
Under-pricing of the property may
result in:
3.
> You losing money on your
investment
4.
> A buyer offering an even lower
amount due to a negative perception of the property or area
Step 4: Location
It is often said that the three most important factors in selling a home are "LOCATION-LOCATION-LOCATION." Although you cannot do anything
about the physical location of your property, it plays a very important part in the
marketability of your home. So, it is important to take the following into
consideration:
- > Is your property priced in relation to other offers in your area?
- > What type of neighborhood is your property located in - well-established, up-and-coming, transitional?
- > Is your property located in an urban or rural area?
The condition of your property is
always a factor in how quickly your home sells. It's a fact: acquiring the
highest market value and elevating your home above the others in the same price
range often comes down to first impressions. Here are some inexpensive ways to
maximize your home's curb appeal:
- > Keep the grass cut and yard clutter to a minimum.
- > Apply fresh paint to any wooden fences and your front door.
- > Clean windows inside and out.
- > Wash or paint your home's exterior.
- > Ensure gutters and other exterior fashions are firmly attached.
Did you know well-placed furniture
can open up rooms and make them seem larger than they are? Or, that opening
drapes/blinds and turning on lights make a room seem bright and cheery?
It's true, which is why staging your home to look its absolute best is an
important factor in the selling process.
Here are some inexpensive ways to
highlight your home's best features:
- > Clean or paint walls and ceilings.
- > Clean all flooring and fixtures - lights, fans.
- > Repair all plumbing leaks.
- > Remove excessive wall hangings, furniture and extra personal goods.
- > Turn on all lights and open the drapes during the daytime.
- > Play quiet background music and infuse your home with a comforting scent.
- > Vacate the property when and if it's being show to prospective buyers.
Step 7: Accessibility
Accessibility is a major issue in
many cities. Again, you cannot do anything about your home's
accessibility to specific things, but it does play a role in the price of your
property. Your agent will work with you to highlight the places of interest
that are most accessible to your home.
Here are a few important areas to
think about:
- > Public transportation
- > Main roads
- > Shopping centers
- > Schools and other educational institutions
- > Outdoor areas - public pools, parks, playgrounds
- > Entertainment
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