Here are 20 Tips for Getting the Maximum Return on Your Investment...
Tip No. 1 Know Your Reasons for Selling.
Your reasons will affect everything from setting a price to deciding how much time and money you’ll invest to getting your home ready for selling.
Tip No. 2 Once You Know, Keep the Reasons to Yourself.
Your reasons will affect how we negotiate the sale of your home, but they shouldn’t be given as ammunition to the person who wants to buy it.
Tip No. 3 Know the Market Before Setting the Price.
Setting the price shouldn’t be taken lightly. An updated market analysis must be done to maximize the sale price of your home.
Tip No. 4 Find a Great REALTOR®.
Nearly two-thirds of the people who sell their own home say they wouldn’t do it themselves again, according to research by the National Association of REALTORS®. Sellers surveyed point to difficulties in setting a price, marketing handicaps and liability concerns among the primary reasons they would turn to a REALTOR® next time. Selling a home yourself usually eats up more time and effort than you might initially expect. A good REALTOR® knows the market and your neighborhood in particular. They will supply you with information on past sales, current listings, a marketing plan, something on their own background, and references from past clients. Most importantly, make sure you choose someone who is going to put in a lot of hard work on your behalf.
Tip No. 5 The More Potential Buyers, the Better.
By maximizing your home’s marketability, you’ll increase your chances of attracting more than one prospective buyer. Why is this better? Because several buyers compete with each other; a single buyer ends up competing with you.
Tip No. 6 Curb Appeal
When a prospective buyer pulls up in front of your home, are they visually impressed with what they see? Remember, a buyer’s first impression will determine whether he or she wants to walk through the front door or not.
Tip No. 7 Front Door & Entry.
This is the feature of your home that the buyer sees first so extra attention here is essential. Make it welcoming by purchasing a new doormat and mailbox. Polish the brass doorknocker until it gleams or set out pots of geraniums. A flower wreath on the door or if you have a porch, a cedar bench to sit on would be a nice touch. Most importantly and if needed, repaint or re-stain your door.
Tip No. 8 Landscaping.
If your yard is well landscaped and sculpted, chances are your home will fetch a higher price. Regularly water and mow your grass, clip hedges, prune bushes and weed. Bring colour to your garden if seasonally possible with flowering baskets and tubs of flowers. If you have one, set up your sundeck and/or patio with outdoor patio furniture. Repair any fencing that needs mending. If you have a view, make sure that any greenery is trimmed back so that the full impact of your view is not impaired. Add a little fertilizer to your lawn for instant growth of fresh green shoots.
Tip No. 9 De-Clutter
This tip cannot be over-stated. A cluttered home is an un-attractive home. To maximize the saleability of your home, throw out or store anything and everything that does not need to be there. The more neutral your home looks, the better.
Tip No. 10 Be the Shiny Apple
You may not be able to change your home’s location or its floor plan, but you can do a lot to improve its appearance and you should. The look and “feel” of your home generates a greater emotional response than any other factor. You may price your home to sell, but a prospective buyer reacts to what they see, hear, feel and smell. Go look at homes that are for sale in your neighbourhood and get to know your competition. Your home should be the “shiny apple.”
Tip No. 11 Take Others People’s Opinions Seriously.
Remember this is your home, a place of fond memories. There are bound to be emotional issues that can impair your ability to make an honest assessment of your home’s strengths and weaknesses.
Tip No. 12 Clean Like You’ve Never Cleaned Before.
Pick up, straighten, un-clutter, scrub, scour, dust...well, you get the idea. If your living room feels crowded, take out every piece of furniture you can get away with. If your home still isn’t ready to appear in a magazine, then keep on cleaning.
Tip No. 13 Fix Everything No Matter How Insignificant it May Appear.
The step that squeaks, the light switch that doesn’t work, the hairline crack in the bathroom mirror—they might be minor annoyances to you, but they can also be deal-killers.
Tip No. 14 Remove All Traces of You from Your Home.
Make your home as neutral as possible. Anything that interferes with a prospective buyers’ ability to see themselves living in your home must be eliminated. A few carefully chosen knickknacks and family portraits may add warmth and character to the home, too many are a distraction. Avoid unique or trendy color schemes—paint and carpet in neutral shades of white or beige.
Tip No. 15 The Little Touches Make the Difference.
A well-placed vase of flowers, accent pieces of sculpture, potpourri in the bathroom—all can enhance the attractiveness of your home in a subtle, soft-spoken way.
Tip No. 16 Odours
Odd smells kill deals quickly. All traces of food, pet and smoking odours must be eliminated. Even when you’re sure they’re gone, don’t encourage prospective buyers to imagine things. If they know that you’re a smoker or that you have a dog, they’ll start smelling odours and seeing stains that may not even exist. Be safe—don’t leave any clues.
Tip No. 17 Leave the Negotiating to the Expert.
REALTORS® are experienced and trained professionals in the field of negotiating. Your REALTOR® has an obligation to work in your best interest and to keep your information confidential.
Tip No. 18 Don’t Get Emotional During Negotiations.
The extent of most people’s experience in the art of negotiation begins and ends at their local auto dealership. Few of us have pleasant memories of haggling with car salesmen. If you can let go of the emotion you’ve invested in your home and approach negotiations in a detached, businesslike manner, you’ll find the process to be a lot more enjoyable. You’ll also have an advantage over prospective buyers who get caught up in the emotion of the situation.
Tip No. 19 Know Your Buyer.
In the negotiation process, my objective is to control the pace and set the duration. The better I know the buyer, the more easily I can maintain control. As a rule, buyers want the best property they can afford for the least amount of money. Knowing specifically what motivates the buyer enables me to negotiate more effectively. Maybe the buyer needs to move quickly or the maximum amount he can spend is just a little below your asking price. Knowing this information puts us in a better bargaining position.
Tip No. 20 If Your Home is Vacant, Have it Staged.
Studies have shown that it is more difficult to sell a home that is vacant—it looks forgotten, simply not appealing. It could cost you thousands of dollars. If the home is vacant, you’re also telling buyers that you have a new home and are probably motivated to sell.
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