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10
Tips For First-Time Sellers
by: Peter G.
Miller
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At first the
task seems daunting: You
haven't sold a home before,
the market looks complex,
and what worked for owners
10 or 20 years ago seems
inappropriate today.
What steps should you
take? Here's a baseline list
to get you started.
1.
You Can Do It.
Some 5.25 million existing
homes were sold in 2001,
more than 14,000 a day.
Other owners have done it
and so can you.
2. Define Your
Goal.
Do you want the highest
sales price -- or the
biggest check at closing?
They're not necessarily the
same. Imagine that two homes
sell for $300,000, but one
owner pays 2 points and
agrees to replace the roof.
The owner who sold without
such costs got a bigger
check at settlement. The
bottom line: To have a
successful sale you need to
look at both price and terms
-- you must have a strong
negotiator in your corner.
3. Times Have
Changed.
Today's real estate
marketplace is radically
different when compared with
10 years ago. Purchasers now
use the Internet, receive
seller disclosure forms, get
home inspections, and are
routinely represented by
buyer brokers. The result is
that buyers can be better
prepared than in the past.
4. Sparkle And
Shine.
Imagine going to a
supermarket and seeing dusty
fruit or aisles filled with
old shelving and cans. It
doesn't happen because the
grocery store knows how to
present its goods. Sellers
must do the same. Get rid of
things you don't want to
move, organize closets and
storage areas, and clean
everywhere.
5. Mechanics Count.
Buyers expect everything to
work. Home inspections are
now entirely common and what
buyers miss home inspectors
will catch. Fix and paint
things now and they won't be
an issue in the future.
6. Think Broadway.
When buyers see your home,
it's show-time. They want an
environment where they can
see themselves. Give them a
show where everything is
painted, arranged, and
attractive… a home where the
only issue is when to move
in.
7. How's The
Market?
Real estate is local. Your
broker can explain current
market trends in your
community, including what's
selling, what isn't selling,
and why. This information is
central to getting the best
possible price and terms.
8. Know Your
Rivals.
Your property will be
competing with other homes
for buyer attention. Ask
your broker how to be
competitive -- and how to
have an edge.
9. What Time Is It?
Markets differ by location
and time.
When interest rates are low
and the local job base is
growing, it's great to be a
seller. But when times are
slack and mortgage rates are
rising, homes also sell. In
1981, when the prime rate
topped 20 percent and the
population was smaller, 2.4
million existing homes were
sold. The trick is to be
realistic, to get as much as
market conditions will
allow.
10. Understand The
Plan.
Real estate marketing
involves far more than a
sign in the yard and an ad
in the paper. Successful
brokers use a variety of
methods to attract and
qualify prospects, including
the latest Internet and
communication advances.
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Terrence Tully
Certified Buyer Representative
Certified Residential Appraiser
eMail Terry
978-317-2467 |
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