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Dodie's Guide to Selling a Home

Choosing a Realtor

When thinking about selling your home, you need to find that certain someone that can help you navigate this path of selling one of your biggest assets- your home. How do you find that person you can trust to help you with what will most likely be the biggest, most important sale of your life so far?  Talk with your friends, ask around to see who may have a recommendation of a good real estate agent and interview your prospective realtor- ask questions such as: what is your marketing strategy? Can I review documents before the time that I will be asked to sign? How much do you charge? What are the top three things that separate you from your competition? Can I call/email/text you when I have a question? 

Pricing your Home

Location

It is important to calculate the expenses that may be incurred while selling your home. This knowledge is necessary because it helps you determine the profit from selling your home.  The cost of selling your home includes things like real estate commissions, taxes, costs of needed repairs, etc. 

The most important factor when putting your home on the market 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 which may result in buyer wariness as to why your home is on the market for so long

 

Under-pricing of the property may result in:

  1. Losing money on your investment

  2. A buyer offering an even lower amount due to a negative perception of the property OR conversely: potentially increased buyer interest and multiple offers on the property

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Although you cannot do anything about the 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:

  1. How is your property priced in relation to other homes that are for sale in your area?

  2. What type of neighborhood is your property located in - well-established, up-and-coming, transitional?

  3. Is your property located in an urban or rural area?

Condition of your Home

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:

  1. Keep the grass cut and yard clutter to a minimum, plant some flowers

  2. Apply fresh paint to your front door, prospective buyers will spend time at your front door waiting for the agent to unlock the door and let them in, they will spend this time looking around and taking note of the entrance to the home, the yard and view from the door 

  3. Clean windows inside and out

  4. Wash or paint your home's exterior

  5. Modernize/update what you are able to, many buyers do not want to or are unable to work on the home after purchasing it 

 

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Staging

Did you know well-placed furniture can open rooms and make them seem larger than vacant rooms? Or, that opening drapes and blinds and turning on lights make a room seem bright and cheery? It's true, which is why staging your home to look it's absolute best is an important factor in the selling process.

Here are some inexpensive ways to highlight your home's best features:

  1. Clean or paint walls and ceilings.

  2. Clean all flooring and fixtures - lights, fans.

  3. Repair all plumbing leaks.

  4. Remove excessive wall hangings, furniture and extra personal goods.

  5. Turn on all lights and open the drapes during the daytime.

  6. Play quiet background music and infuse your home with a comforting scent.

  7. Vacate the property when it's being show to prospective buyers.

 

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Accessibility

Accessibility is a major issue to many people. 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:

  1. Public transportation

  2. Main roads

  3. Shopping centers

  4. Access to work

  5. Schools and other educational institutions

  6. Outdoor areas - public parks, playgrounds, pools

  7. Entertainment

  8. Stairs inside and outside the home

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