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The 5 Do's & Don'ts of Selling Your Home

Wednesday, March 25, 2015

The 5 Do's & Don'ts
of Selling Your Home

Colorado Springs Co Realtor

A home is an investment. When it comes time to reap the financial rewards of that investment, you want to be sure that you are doing everything you can to get the best price. While the real estate market has bounced back dramatically in many areas around the country in recent years, making a deal that is profitable for both buyer and seller does take some finesse.
Knowing what to do (and not do) in today’s real estate market can make the difference between a home that sells quickly and one that sits on the market. So what should sellers be aware of to make a quick sale? Here are five do’s and don’t of selling your home:

1.  Price Your Home Correctly

Yes, you want to get the most out of your home, but if you don’t price it carefully, you aren’t going to generate any interest at all.  Consider the market and look at comparative sales in your neighborhood. Maybe your house is nicer than the rest, but buyers are looking for a deal and are not going to pay thousands more for your home when a  cheaper version is available down the street.

Keep in mind that fair market value for your home may not meet its appraised value.  This can be hard for some sellers to understand.  Buyers usually can not always pay the appraised value unless they are willing to put about 20% down on a house.  The days of 100% home loans are over, making it harder for buyers to acquire financing. This had led many to look for homes offering instant equity.

2. Think Like a Buyer

You love your home and think it is perfect. But, what will a potential buyer think?  Take a look at your home.  Be brutal. Maybe you love that pink bedroom, but will a buyer? The best way to grab attention is to make sure that your home appeals to the general masses.  Spruce up each room with a good cleaning; repaint bold colored walls with more neutral colors; and clean out the clutter.  A clean, clutter free home will look bigger and appeal to more people.  Lighter colors like white and creams also open up tight spaces, giving the illusion that a room is larger than it is.

Walk through your home looking at things as a buyer would and make the appropriate changes.  Maybe you prefer your privacy so you installed shades and drapes in your windows.  Open up those windows and let some light in.  Biers like lots of natural light.

It’s time to forget what you like and think like a buyer so you can stage your house in a way that will make a buyer feel as if they can live there.

3.  Be Sure Everything Is In Good Working Order

Maybe that leaky faucet in the laundry room doesn’t bother you, but it signals trouble to a potential buyer.  Fix all of those small (and big) problems before putting your house on the market.  Tighten loose knobs; oil squeaky doors; touch up mark on the walls, etc. It doesn’t matter how small the problem, buyers will take notice.  Leaving small things broken sends a signal that you haven’t been taking care of your home – even if that assumption is false, that is the impression buyers will leave with.

4.  Be Honest

Make a list of any major repairs you have made in recent years and highlight problems that you know exist right now.  Be honest. Not only is full disclosure important when it comes to making a sale – in many states it is the law.  Trying to hide the fact that you had termites three years ago could land you in court should the house sell and the new owners find out later.

5.  Be Flexible

Selling a home can be frustrating. Buyers often ask for more than a seller can offer. While you don’t have to give in to every demand, it is important to be somewhat flexible during the selling process.  If a buyer asks you to install a handrail to the porch, do so.  Or if they want to negotiate the closing date, at least consider it.  By showing your willingness to work with the buyer and their agent, you are showing your commitment to making the sale.

There are a lot of things a homeowners can do to help the selling process.  These are just 5 do’s and don’t that can help make a sale. Talk with your real agent professional to find out other things you should being doing (and not doing) in order to make their job selling your home easier – and generate a better deal.


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