20 Eye Opening Facts To Real Estate Home Selling

Dated: 07/11/2018

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20 Eye Opening Facts To Real Estate Home Selling

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1. KNOW THE MARKET CONDITIONS - Your agent should be familiar with the local and current market conditions with how the market is moving. 

2. CLEAN & TIDY HOMES SELL - A dirty home will result in less money in the end. It is crucial to invest the time and money into preparing to open your door to buyers. One of the biggest payoffs to selling your home is the cleaning and decluttering.

3. HOMES PRICED RIGHT WILL SELL - Price your home to sell! The first few days on the market your home should shine the most. A new listing attracts all buyers who are waiting for a home in their criteria to pop up on the market. A listing that sits on the market for an extended period of time will make buyers wonder what is wrong with the home. A way to avoid this stigma are to reduce the price or make updates to drive up the interest. 

4. UNDERSTAND THE INCONVENIENCE - From the beginning, understanding selling a home will be an inconvenience for a short period of time will make it easier throughout the process. The time you will spend packing, cleaning/decluttering, and opening the door the showings will interrupt your daily life and schedule. Ultimately, realizing your life will be hectic during the process will make it a smoother experience.

5. REPAIRS LEFT UNFINISHED WILL COST MORE IN THE END - Repairs that you've held off on will cost a LOT less if you do them BEFORE listing your home. The reasoning for this is ultimately that once a potential buyer notices flaws, they'll start to wonder what else is wrong that the naked eye cannot see. 

6. OVERPRICING WILL SELL YOUR NEIGHBORS HOUSE NOT YOURS - It's TRUE! Can you imagine your home being priced to high and your neighbors home selling not yours! Buyer's are approved at a specific price point which means they are only looking at homes they can afford. Buyer's that have a portal set up will never see your home if it is priced to high, rather lower priced homes such as your neighbors could be, will appear in their price point. 

7. BUYERS WILL TRY TO NEGOTIATE THE PRICE AFTER THE INSPECTION - When it comes time for the inspection, you may be surprised when their are numerous little things that need repairs. With this being said, you the seller will know ahead of time to disclose prior to receiving any offers. The buyer will nickle and dime the seller for any small or large repairs needed if you don't prepare correctly. 

8. DON'T BE PRESENT FOR SHOWINGS - There is a reason it is suggested for sellers NOT to be home for showings. The biggest reason is to allow privacy to buyers who may be interested in making an offer. You want the buyer to feel comfortable with asking the agent questions. The biggest reason to avoid being home is in case the buyer starts asking questions that could create any awkwardness resulting in no offer or a poor offer if they know any details about the move. 

9. PREPARE YOUR HOME FOR SHOWINGS - Smoking, pets, laundry or even cooking smells that you as a seller don't smell, WILL be apparent to the buyer! Taking the time to again prepare your home will result in a better experience for the buyer at the showing. 

10. CASH DOESN'T ALWAYS WIN - Financed buyers versus cash buyers can create controversy when comparing the two. A good rule of thumb while submitting a finance offer is to submit an error-free, clean offer that is accurate and complete as well as an up to date, strong pre-approval letter. Another way a finance offer can win is having quick timelines for contingencies and closing. 

11. WELL MAINTAINED HOMES SELL FOR MORE - A well maintained home appears to the buyer as though the seller took care and kept up on all maintenance.  This often leads buyers to think worry-free  after they've bought the home. 

12. POOR COMMUNICATION WILL RUIN THE SALE - Once you have an accepted offer, your cooperation in a timely and prompt manor is required for a smooth transaction. Any questions the buyers have during this time are crucial throughout the process so being ready and available will result in closing on time. 

13. PREPARE YOUR HOME FOR THE BUYER TO ENVISION THEMSELVES THERE - Taking all of the personal touches out of your home is a good idea to prepare for listing your home. We recommend you begin your packing slightly prior to showings to make the home feel fresh and welcoming. Often times buyer's can't look past the "Youness" o f your home to picture themselves there if not. 

14. PICTURES/VIDEOS CAN BOOST THE LISTING - By not having photos or a video your home could be skipped by the buyer online. Studies show over 90% of buyers start by looking at photos before setting up a showing to narrow down their showings. High quality photos and videos are completely worth the investment. 

15. HIDING DEFECTS WILL HURT YOU IN THE END - Hiding defects that you are aware of could lead to a law suit. Always disclose of any defects you are aware of to cover yourself in case of any mishaps when it comes to the sale of your home. 

16. COOPERATION FROM BOTH PARTIES IS KEY - While working through a real estate transaction, give and take is necessary for a successful closing. Once the seller starts fighting everything, the buyer will continue firing needed repairs until you compromise. 

17. YOU AND THE BUYER'S WON'T ALWAYS LOVE THE SAME THING - Your style and taste isn't necessarily the buyer's. By neutralizing your home of the bold colors and accents, the buyer will be able to envision themselves in the home. 

18. CLOSING DAY IS MOVE OUT DAY - On closing day, all of your belongings must be packed up and moved leaving the property clean. There will not be time to finish odds and ends after you hand over the keys to the new owners. 

19. VERIFY YOUR BUYER IS QUALIFIED! - Prior to an agent showing your home they should verify the buyers have approved credit, income and assets for a pre-approval. However, there are some agents that fail to do so. It's important you verify that the agent you hire verifies this before moving forward. 

20. HIRE THE RIGHT REAL ESTATE AGENT - WE CANT STRESS THIS ENOUGH! There are so many important factors that go into choosing the right real estate agent for this huge decision in your life. Researching your agents skill set, experience and education is crucial for success. 

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Jim Geracie

#1 Realty Executives Agent in Wisconsin 2002-2017 Top 10 International Realty Executives Agent 2017 More than 3,500 families have successfully bought and sold real estate with Jim The Jim Ger....

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