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7 important Real Estate Tips for a Home Seller
There comes a time in your life when you wanna sell your own property and since there are so many steps involve from pricing the property correctly, making the marketing materials, doing the viewings, doing follow up, answering the inquiries, concerns, drafting the paperwork, negotiation, closing, there are just so many task involve in completing in one real estate transaction. And it could be quite confusing to a person who just simply want to sell his property because unlike most items wherein, for example you wanna sell a laptop or a gadget. It just simply has to work and then you show it to the person and if he likes it, he buys it and that’s it. Of course, they are specs and things you want check, but can you imagine how much more things you have to check in to a home, before you actually pull the trigger and investing that seven-figure price tag. So today we’d like to talk to you about some of the tips that we can give you as a seller of your home, to make it easier and so that you will avoid common pitfalls, that people go through when they are selling their own property.
1st TIP: Price your property accurately or precisely (as much as possible)
The first tip that we will give you as far selling your home is concerned is, price your property accurately or precisely as much as possible.
What’s the importance of pricing your home correctly?
Setting the price correctly is highly critical to the success in selling your property. In this modern day and age people search for a property though the internet.
That means gone are the long old days when you actually post a property for sale in the newspaper and you only have so few of details that they have to call you to inquire more about it.
In the old days it goes like this, you have a property for sale, and it’s a two-bedroom, and its price at so and so price and your contact details are there. So, since it’s incomplete, the buyer calls the seller and inquires about the property and you have that opportunity to defuse some of the objection or probably simply put answers some of the concerns the buyer has. Nowadays we don’t have that opportunity.
If a person see’s the price and it’s not price correctly if it’s over price, it simply skips the property and go to the next one. Or if the property is so undervalued, people might think that there’s something wrong with the property, and there’s a catch.
So, it’s very important that you price your property correctly. So that you will catch the correct buyers’ attention and you will have an opportunity for them to really be interested in the property and to call you, so that you will have opportunity to engage them and help them out.
Overpricing a property will also result to higher days on market or what we called in real estate terms D.O.M. That’s not the “Dirty Old Man” that’s the “days on market”.
And the higher the days on market, the more seemingly and I say seeming be because it may or might not be correct. Some people might have the impression that there’s something wrong with the property. Because its days on the market it’s so high that they think nobody likes the property whereas in reality there’s really nothing wrong with it.
2nd TIP: Make sure your property is at its best
The second important tip that we will give you as a seller of your property is, make sure your property is at its best look.
This is the stage when you are selling your property. You don’t have to make up things that are not there. You just have to make sure the property is in its best look. You have to show the buyer what the property can be, not just what property is.
So just say for example, if you have an empty loft it might be helpful for you color it up a little bit. You actually put some furniture to make it look nicer, there’s some appeal. It’s about letting them see what the property could be. Or as simple as you make sure in its best look. Because most of the buyers they really don’t have any imagination as far as when they’re buying a property is concerned, it’s not their fault. Because buying a property is a very physical and tangible business.
So, when they see it, they feel like – that’s it. And they usually don’t see it for what it could be.
And if your property is not well kept, it’s not on its best look, it’s not clean, they would feel like there’s something wrong with the property or it’s not being taken cared of. So, they might resort to another property, you’re lucky if they still consider it but it’s not the best way to go when you’re actually marketing your property out there.
3rd TIP: Consult Professionals
The third tip that we would like to give you is, to consult professionals. And I don’t mean to just to consult a professional just for the sake of it. There are so many different aspects as far as real estate is concerned.
So, you have a contractor, you have an architect, you have an engineer, you have an appraiser, you have real estate broker, there is an interior designer.
If you have a certain goal when you are handling your property if you wanna resell it or if you wanna rent it out and you wanted to be a botique property.
Say for example, you wanna have a building with very nice spaces on it, neatly designed, you might need to consult a good interior designer as to what furniture will worked best. For the rental property you have to consult a professional real estate brokers so that you know what typically marketing value it will rent for. And you have to consult a professional contractor so that you would know how much time and how much it would cost to fix to get all of these into action. Bringing your ideas into life is a good thing but sometimes since you don’t know everything it would be helpful if you have these professionals at your side. Helping you make your dream a reality.
See a sample video of a professional showing a property for you:
4th TIP: Be flexible with property showing schedules
The number four tip that we’d like to give is, to be flexible with property showings.
Property showing is a very important process most especially in today’s world. Many people don’t just shop for a property. They look for a property online and once they like it that’s the only time that’s they schedule a viewing. So that’s a filtered prospect that really wants to see the property.
It’s a very viable buyer, more likely. When you are advertising a property through newspapers, there are no photos, there’s just text “it’s a house for sale in so and so village and there’s a price and your contact number” because they’re trying to save a space for that little classified ad that they put up. There has to be so many showings that has to take place before one real estate transaction transpires. Because they don’t how the properties look like, they have no idea as far as the details are, they don’t know how many rooms there are, there’s just so many things that are not visible in the tiny newspaper clipping. So, in the old days there has to be a lot of viewings and you have to be flexible as far as accommodating them, both buyers and on lookers.
But nowadays given the advent of the internet, people search for a property through the web. They were able filter out and search the properties they like and don’t like. And once they ask for the viewing you have to be open to showing the property to them at the correct time, because that’s the time that they’re ready to buy and absorb whatever it is.
This is a very important thing to know your property when you are selling – so you have to be flexible to unit showings.
There are just some sellers that are not open to this and it’s quite difficult they want to do it at their own time at the buyers’ time so it’s difficult.
This is also where a professional comes in if you’re able to entrust the property viewing to a proper professional it can save you a lot of time since you don’t have to reschedule based on your availability. The professionals should be there ready to assist them, the potential buyers for you.
5th TIP: Hire a professional who can do the showings for you
And since were talking in about it… the fifth tip that we would like to give you is: to hire a professional who can do the property showings for you.
Having a third-party person who is trusted by the buyer could be highly beneficial for you in selling your home. When a buyer meets you for the first time and you shake hands and you’re showing the property and you’re trying to show all the different advantages that your home has over the others. Depending on how they take it, they would sometimes misunderstand that you’re trying to just sell your home. Well of course you are, but what am trying to say is if there’s a third party trying to give in partial advice to a buyer that the buyer trusts and its try to talk the language that the buyer understands instead of you just trying to sell the property it could be beneficial for you because they would feel more comfortable that way.
Also, it takes you so much less effort all you have to do is let the showing happen and you stand on the side and that’s it, it’s very simple. Also, the trained professional has the negotiating experience and the professional realtor would know how to thread these lines very carefully.
And you know in this kind of situation it’s also not the sellers’ fault, because in his excitement to show the home to the buyer he sometimes gives up all of the possible advantages, and sometimes they don’t also know it but the advantages that they thought of was a good thing is actually a disadvantage as far as the buyers concerns. For example, “All these properties near the club house. I love it my kids you know run ride across and it’s good” that’s what the sellers thinks. But to the buyer he likes to be on the private side of the village, he doesn’t like being ride across the club house because every weekend there’s a party going on. So, it’s gonna compromise his privacy.
And of course, the buyer’s gonna be polite and say, “It’s okay, thank you” and he can’t tell that to you. But with the Realtor a third-party consultant he can tell his real concerns because it’s not gonna be rude for him to do that because he is a consultant. “You know I don’t like this house, it’s actually near or right across the club house it could be a problem for me during the weekends”. And then the Realtor will have real opportunities to solve your problem as the seller. “Yes Mr. buyer, there are parts in this club house, it happens but not as often as you may think. As you can see this is the schedule of what is the average of what happens in this village, it’s usually only happens once a month. Is that tolerable Mr. Buyer?”. And the buyer says “Yes it’s okay. I thought it was every day or every other week. So, this is fine with me”. And if the buyer responds in such a way,“Okay Mr. Broker, I though this happens on a weekly basis if it only happens once a month and unusually gone during this time of the month or towards the end of the month it should be okay with me”. You as the seller will have no way of knowing that, because you are so busy getting excited telling the buyer what the advantage of your home is. But if you have the third-party professionals doing the real grunt work for you it is highly valuable for you as a seller to be able for you to close the sale as fast as possible. Also, not to mention titled transfers is a highly time-consuming task. If you have a licensed professional at your side, him and his office can take good care of it for you. So, all you have to do is sign of the deed of sale and then you’re ready to go.
6th TIP: Take beautiful photos
The six tip we’d like to give you as a home seller is, take beautiful photos. In today’s internet given world, photos are almost everything and I say almost. Because if you misrepresent that’s really cheating and that’s not good at all. You have to take the best photos that represent your home. If you have angles that shows the best side of the house without misrepresenting the house go on and do it. Don’t put other photos in place of your own property, or if it’s a preselling property meaning to say it’s not built yet always put the label “artist’s perspective or artist’s rendition”, so that you will have truth in advertising when you are putting your property in the market. You can’t go out there and just you know put a nice photo of a home and then when the buyer comes in and “Oh it’s so different from what I saw on the online”. It’s a violation of the buyer’s trust. And if your deals start of like that chances are it might not go through further down from the line as far as selling your property is concern. So, buying properties is a highly trust business you have to reflect it for what it is. It doesn’t mean you can’t reflect the best side of your property, because you trying to represent it for what it could actually be. But just the bottom line, take nice photos or if you can’t do it cause your hands is shaky or you just don’t know how, let the professional do it. It should be easy for you. Or get your license broker also to go there. They would know which angles to take. Because some buyers they look for certain parts of the house and the real curve the goods ones, they know how to present this properly. So, bottom line for that portion consult to the professional.
7th TIP: Declutter
The seventh and I think one of the critical portions as far as a good tip is concern when your selling your home is, declutter. Remove the clutter, the things that makes your home look disorganize, take them out. Don’t just do it for the viewings, do it because you also want a make the house look nice. Cause when you are selling a property there’s a reason why most showrooms, say for example whether it’s a model unit, or a showroom, or a car, they’re clean and tidy and nice. It is so that it will give a good impression to the buyer. Can you imagine when your buyer comes in to your home and there’s just a lot of clutter, what kind of lifestyle are we representing. So, it’s difficult to make the buyer imagine what it could be. Not all buyers have a painter like imagination wherein they can like imagine like what your property can be. It’s difficult if you’re trying to represent a lifestyle most especially you are selling a high-end property it has to look good so that you will also attract the correct buyers, you will have a nice photo and you will provide a good experience for the buyer while he’s there looking at the property. Remember when they’re looking at your property it might take few a minute probably less than an hour. But that is highly critical to their decision-making process with their seeing the property in the flesh. It’s just important so that we could present the buyer what the potential of the property is. It is simple as making the property presentable.
So, what did we learn today? Today we learned that there are a lot of things that you can do to help sell your home in a better and more timely manner and that’s it for today. I hope you were able to give you a better idea of how to sell your home more effectively and thank you we look forward to seeing you again here.
