Highlights: The top goal is to sell the home for the best price possible! There are many small projects that you can do to ensure this happens! Your real estate agent will have a list of specific suggestions for getting your house ready for marke
Valuating the home for sale
A Comparative Market Analysis (CMA) makes adjustments to the home for sale as compared to others sold or list price based on differences in amenities. Keep in mind, ranch style homes have the highest resale value of all floor plans.
Pricing the home for sale
After filtering for distressed and non-arms length transactions, the CMA will provide a range of market values. Contrary to popular belief, pricing the home for sale at or below value actually shortens time on market. In the competitive seller’s market we find ourselves, it also has a tendency to create bidding wars. Conversely, pricing the home for sale too high may end with a property stigmatized by excessive time on market, negatively affecting perceived value and price.
Once determined, adjust the home for sale’s value according to condition, upgrades, style and appeal. This is crucial, because the assumption is that it is as good if not better than the homes used in comparison. Failure to do so will either price the property too high, resulting in a longer time on market or too low, leaving money on the table.
Selling the home
Ensure the buyer is qualified with a lender letter for financed offers, proof of funds for cash ones or a combination of the two as appropriate. Look for any concessions being requested and how they affect the bottom line. Sometimes a low ball, cash offer is actually better than a full priced financed offer which may take 45 days or more to close, resulting in additional mortgage, insurance, utilities and other monthly holding costs of the home for sale.
Don’t be the fool
“He who represents himself has a fool for a client” – Abraham Lincoln
There’s a reason 70% of all real estate transactions happen through a licensed broker. Prepared with tools such as a MLS and its thousands of member brokers, net sheets, contracts and more, getting a licensed, experienced broker on your team is most likely to result in receiving the highest price in the shortest amount of time for the home.
Thanks for reading.