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Home > Selling

Counteroffer Tips for Sellers

March 15, 2019 by engageRE

You’re selling your home at a price decided upon with the help of your real estate agent. Together you have researched the market and prepared to list your home at a price you believe to be viable and suited to the condition of the property. A potential buyer makes an offer, but it’s lower than the asking price. What do you do next?

When an offer is made, negotiations are underway. Your real estate agent will be invaluable to help you decide how to proceed. The buyer may be checking to see if you’ll accept a lower price. They might also want other conditions to be met – frequently home repair. You will need to determine if it’s a serious offer or if it’s unrealistically low. By industry standards, any offer that is 20 to 25 percent below asking price is a low-ball offer. You may choose to ignore it or to make a counteroffer.

In advance of the counteroffer, you want to recheck the property values of other homes in your area. To continue negotiations, discuss the price range you are willing to consider with your agent. Rely on the agent’s knowledge of the market to help you set a counteroffer price back to the buyer. Set it too high and they may leave to find a different seller. Set it too low and you might be leaving money on the table. You may consider lowering the price just a little, but add an incentive, such as a flexible closing date. Your agent will handle the counteroffer for you.

Knowledge is power in negotiations and you want to put yourself in the best position to make smart counteroffers. Perhaps you’re already in negotiations to purchase your next home. Maybe the buyers are facing a pressing timetable because of an imminent job transfer or because they want to be settled before a new school year begins. Have your agent discuss the situation with the buyer’s agent to gain as much information as you can.

With an informed approach and a reasonable attitude, you can quite likely reach an agreement that is acceptable to everyone. Don’t take the negotiation personally. This is a business transaction. Remember, if you don’t reach an outcome you want, you can always walk away from negotiations and wait for the next opportunity.

Filed Under: Blog Tagged With: Featured, Selling

What Agents Consider When Pricing Your Home

December 15, 2018 by

Although there is a great deal of information on the Internet that can help you decide how to set the price on your house, it takes a real estate professional to evaluate the data to your best advantage. A deep knowledge of your surrounding area and current market conditions is a big part of an agent’s expertise, and their sales experience working with many different clients gives them valuable insight into the psychology of buyers.

Finding the right price for your home is vital if you expect a quick sale. If potential buyers think your property is overpriced, they may move on, leaving your home on the market too long. A house that sits without an offer in the first two or three weeks will lead buyers to speculate why it hasn’t sold and assume there are problems. Studies show that homes priced 10% above market value are far less likely to sell within the first 30 days than those priced within 5% of market value.

Of course, if you price the home too low, you will probably be leaving money on the table. In either case, a real estate agent can help you find the sweet spot to price your property correctly the first time and make your sale as quickly and painlessly as possible. Here are the things to consider:

Sales History of the Area
Your agent will pull comparable listings and sales from your immediate neighborhood for the past three months. The radius of the search will be about ¼ to ½ mile from your home. Pay attention to dividing lines such a highways or other major dividing streets. Comps from “the other side of the track” will not apply to your home. The comps will only be effective when comparing apples to apples, including age of the property, square footage, and desirability (dream homes might be able to tack on a premium). Other considerations include lot size and configuration, amenities and upgrades. Your agent can also compare final sales prices against original list prices.

Check Out Your Competition
Your agent can find out the details on pending sales in your neighborhood and how long these homes have been on the market. Take a careful look at the active listings as well. Remember that sellers can ask whatever they like, so the prices you see might not reflect the final sales amount. Tour the homes if possible to experience what buyers will find when they visit. Your agent will help you evaluate what makes your home preferable to these and adjust your asking price accordingly.

Market Trends and Micro Trends
Your agent will consider national, regional and local market trends when setting the price for your home. National factors could include possible rising interest rates. Locally, consider whether sales prices in your neighborhood have been rising or falling. Micro trends are changes that could directly affect your neighborhood. For example, is a new shopping center or park being built nearby? These sorts of things can increase the value of your home.

Be Aware of Your Immediate Neighbors
Even the most luxurious house can be adversely affected if the people living across the street never mow the lawn or have a fence that is falling down. On the other hand, if they have a lovely garden and pristine curb appeal, that could help you as you determine the asking price for your home.

Your agent will be invaluable to you as you evaluate all of these details. Working with a reputable, experienced agent will make all the difference as you negotiate the entire sales process. Lean on your agent to guide you successfully to set just the right price and meet your goal for the sale of your home.

Filed Under: Blog Tagged With: Featured, Selling

Get Rid of Clutter with a Quick Garage Sale

April 15, 2018 by

Yard sale, rummage sale, garage sale, tag sale. Whatever the preferred name is in your part of the country, it is a great way to get rid of all the extra stuff you don’t want to move to your next house. Decluttering is key to presenting your home at its best when it is on the market. There are likely plenty of collectibles, wall hangings and family photos that you want to get boxed and stored in the basement or garage while your house is for sale, but you may have a great inventory for a yard sale, too.

Whether you are a garage sale pro or novice, there are plenty of helpful hints to make the sale run more smoothly and net you the best results.

Declutter Everywhere

Go through your house room by room hitting each closet, drawer, surface and wall. Box up the keepers and set aside the items for sale. If you haven’t used it for months, get rid of it.

Sort and Price

It’s easiest if you sort all your things into categories before pricing. Dedicate the garage or a room in your house as your sale headquarters. Organize into kitchen items, clothes, toys, books, electronics, etc. Then spend the time to price everything individually. With the exception of a category that you plan to price identically, such as paperback books, you need to put a price tag on each piece. It will make your sale go much more smoothly if you don’t have to price things on the spot when your customers make inquiries. Try not to overprice; this is a yard sale, after all. Also, round to the nearest dollar to make check out easier for you and the buyers.

Advertise Your Sale

Run an ad in the local newspaper if that is still customary in your town. However, much of your advertising will be done online. There are dozens of websites that promote garage sales. Choose as many as you like, including community ones like Craigslist and Facebook pages that promote local garage sales. Include photos of a few items you think might be especially enticing for buyers. Put up signs where they will get the most traffic, making sure your lettering is large and easy to read. If your subdivision is having a neighborhood sale that coincides with your time frame, plan your sale for those dates. Many garage sales means lots of customers coming to buy and your neighborhood will handle the advertising.

Get Ready for the Sale

  • Display things on long tables and hanging racks that people can browse through easily.
  • Put a few interesting items near the end of your driveway to encourage people to stop and shop.
  • Have a power strip ready so customers can see that appliances, lamps, and other electronics are in working order.
  • Get a cash box or money pouch with plenty of small bills for making change.
  • Expect early birds even if your ads clearly state your start time. They nearly always come.

Plan for Leftovers

You will have items left when your sale ends. If you still have large pieces, such as furniture, consider selling them on Craigslist. For everything else, do a quick inventory and take it all to a charitable or resale store. Have a plan in mind that you can execute immediately so none of your clutter makes its way back into your house.

A yard sale is your opportunity to get rid of your unwanted odds and ends while turning a profit. You can put the money towards moving costs or redecorating your new home. Definitely a win-win with the clutter gone and new cash in hand.

Filed Under: Blog Tagged With: Featured, Selling

Be Ready for the Spring Selling Season

March 26, 2018 by

Spring is an optimum time for home sales as the largest number of buyers start their search. Take advantage of this busiest sales season by sprucing up your home inside and out. Strong curb appeal is extremely important for making the best first impression and you want potential buyers to be delighted when they step inside your front door.

Wash away all signs of winter grime around your property. Scrub ice melt, sand and salt off the driveway and sidewalks. Rent a power washer if necessary. Clean away leaves, sticks and debris and freshen flowerbeds with new mulch. Trim hedges and overhanging branches. Flowers add so much charm, so check out the kinds of plants that will thrive in cool early spring days. Some good choices might include pansies, viola, creeping phlox, alyssum and snapdragons. If it is too early in your area to start bedding plants, put potted plants outside. You can bring them in if frost threatens and they will brighten your front steps and patio. If your lawn is ready to mow, cut it on the diagonal to make your yard appear larger.

Make the front of your house look bright and clean. It’s the first thing buyers see when they arrive for a showing. A fresh coat of paint on the front door is an excellent idea. If the door’s hardware is tarnished beyond repair, replace it. You might need to touch up the paint on exterior trim and the garage doors as well. Buy a new outside mat so everyone can wipe their feet before entering. Clean up your outside furniture and set it in place.

Do everything you can to bring the light into your home. Sell the sparkle! Wash windows inside and out. Polish all the mirrors so they reflect back the light. The heavy drapes that have kept out the winter cold need to be taken down or tied back. Rooms look brighter when the sunshine can stream in unhindered. Try sheers for a lighter look. On mild days, open the windows so the breeze can blow through.

Now that the light is in, make a serious evaluation of what it shows. Clean the carpets and decide if any should be replaced or re-stretched. Shine your tile floors and bleach dull grout. Polish wood floors and keep the dust off. Check for cobwebs in the corners and grit on air registers. Clean window blinds, window sills and all the other nooks and crannies that have gathered winter grime.

Declutter everywhere: closets, basement, cupboards and garage. Toss and donate the things you no longer need and get a head start packing away the items you will move to your new home. Minimize table top decorations and wall hangings. Your house will feel bigger when you remove unnecessary clutter and it will be ready for staging the rooms to show.

Put plenty of focus on the kitchen and bathrooms. Even if they haven’t been updated recently, a few simple fixes, such as caulking or new faucets, can give them a fresh look. Check all your doors, door frames and cabinets for nicks. Repair them with a good scratch cover or touch up the paint where necessary. Replace old, droopy shower curtains. If you make some small repairs, your home will have a polished look. It’s easy to ignore these little fixes, but the flaws may really jump out at the potential buyers.

When you’re finally ready, get your house on the market right away. It’s better to be first on the market before you have a lot of competition. All the shining, primping and decluttering you’ve done will pay off. Your potential buyers may not even know why they find your home so appealing, but they’ll have a feeling they are seeing a clean, well-cared-for residence that may be perfect for their next home.

Filed Under: Blog Tagged With: Featured, Selling

Advice for a First Time Seller

January 15, 2018 by

Selling your first home can be exciting, exhausting and daunting. You have already navigated your home buying experience, but now you are on the other side. Your primary goal is to maximize your profit and there is much to consider before sticking a sign in your front yard.

Be prepared to put aside the feelings you have for your home. You have to think of it as a property in a business transaction, not as the place where you have memories and emotional ties. Once you have decided to sell, you must be as detached as possible, especially during negotiations. Then and throughout all the rest of the selling process, you need to hire a professional real estate agent. Don’t think you will be saving money by avoiding fees if you sell by owner. A home sale is loaded with landmines. For the best results and the biggest profit, let an agent market your home, explain the best ways to prepare it for sale and get you the best plan for closing the deal quickly. Find a top producing listing agent who can give you a comprehensive marketing plan.

You have work to do to get your home ready to show. First impressions are extremely important so you need to declutter everything: closets, tabletops, walls, garage, basement, lawn, everything. You need to depersonalize your house so that potential buyers can easily picture themselves living there. Plan to stage your home to show it at its best, both in person and in the marketing photos. The cost of a professional stager is a smart expense to maximize your selling power.

Freshen up your home with a few low cost improvements. New paint is the single best change, especially if you need to neutralize some vivid colors. Professionally cleaned floors and carpets will provide a bright look and a clean smell. You might want to replace outdated light fixtures and cabinet hardware. Cover dings in any woodwork and polish cabinets. Enhance curb appeal with trimmed bushes, repaired fencing and a manicured lawn. First impressions are key.

When your house is ready, price it to sell. Your agent will help you evaluate comparative home sales in your area, discuss the current market and set a realistic price. You don’t want to “test the market” with an inflated price and then have your house sit without offers. Buyers worry about houses that have been on the market for a long time, so a quick sale is better. Of course, you don’t want to underprice it either, so count on the counsel of your agent to price it right. Also, discuss closing costs and other selling expenses with your agent so you aren’t taken by surprise later.

Once your house is listed, keep it neat and be ready to leave when prospective buyers come for a showing. Buyers will feel more relaxed and will spend more time looking at your home if you aren’t hovering nearby. Be as flexible as you can with showing times and be prepared for several appointments within the first week. If a low-ball bid comes in, don’t take it personally or react emotionally. This is the start of the negotiation process and you have your agent in your corner to get you the best price.

Finally, have your movers lined up early. You can start packing as you declutter the house and be ready to go as soon as the closing is complete. Get excited – and be prepared for the next chapter as you leave your first home behind.

Filed Under: Blog Tagged With: Featured, Selling

A Packing Tip Sheet

November 15, 2017 by

“Moving is easy and packing is fun,” said nobody ever! Packing up everything you own is stressful and tedious, so follow a few simple tips to make your move more streamlined.

Give yourself time

Packing can be overwhelming, so pace yourself to help keep things organized. Pack non-essential or off-season items weeks before your move. Books, knick-knacks, framed art and anything else you won’t use until you are in your new home can all be packed early. Eliminate some of the stress by packing a little bit at a time.

Downsize and donate

Now is the time for cleaning out closets, cupboards, the attic, basement and garage. Be ruthless! Donate or toss everything you don’t use. The more you get rid of, the less you have to pack, move and organize in your new home.

Stock up on moving supplies

Sometimes boxes from grocery or liquor stores work well and they don’t cost you anything. However, they may not be clean or hold the weight of your items and many different sizes of boxes are harder to stack in a moving truck. Use boxes designed for moving when necessary. Keep items clean by using white packing paper. Newsprint may work for some things, but the ink can smear on other pieces. Get plenty of packing tape and markers. You will probably need more than you think you do.

Label each box carefully

Unpacking is harder than packing because you have to decide where everything goes in your new place. Give yourself a break by labeling boxes clearly with their contents and destination. For example, “Kitchen: Dishes and Glasses” or “Master Bedroom:  Shoes and Purses.” Label the tops and sides of the boxes and be sure to mark “Fragile” when appropriate.

Keep “just in case” items handy

Don’t pack all your tools. You might need a screwdriver for taking the mirror off the dresser and other possible last minute projects. You’ll need them at your new home, too, along with light bulbs, extension cords and power strips. Make a complete “just in case” list and keep those items handy.

Keep essential items close, too

There are several things you will need immediately at the new house. These include toilet paper, hand soap, bed linens, cleaning supplies and anything else you will want your first night at the new house. Snacks and medications should be handy, as well as a small first aid kit. You might want to pack these in a clear plastic box so they stay in plain sight.

Don’t ship everything with the movers

Transport legal documents and other important papers yourself. You might also choose to move heirlooms or precious breakables in your own vehicle. There are some things that you actually can’t move, so review the rules about what you can’t pack in a moving van. Some common household chemicals can’t be shipped because they are hazardous or flammable.

Pack an overnight bag

Everyone in your family needs pajamas, clean underwear and a change of clothes, along with basic toiletries and other essentials. You will probably be too tired to unpack everything, so keep the overnight bag in your car until you need it. Make the beds, go out to eat and get a good night’s sleep before tackling the unpacking in the morning.

Filed Under: Blog Tagged With: Featured, Selling

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